STERIS (STE) 10-Q 10 Feb 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Dec. 31, 2019	Feb. 05, 2020
Entity Information [Line Items]
Document Transition Report	false
Title of 12(b) Security	Ordinary Shares, $0.001 par value
Entity Incorporation, State or Country Code	L2
Document Quarterly Report	true
Entity Registrant Name	STERIS plc
Local Phone Number	232 2000
Entity Central Index Key	0001757898
Document Type	10-Q
Entity File Number	001-38848
Document Period End Date	Dec. 31, 2019
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--03-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		84,813,121
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Tax Identification Number	98-1455064
Entity Address, Address Line One	70 Sir John Rogerson's Quay,
Entity Address, City or Town	Dublin 2,
Country Region	353
City Area Code	1
Entity Address, State or Province	IE
Entity Address, Postal Zip Code	D02 R296
Trading Symbol	STE
Security Exchange Name	NYSE
Entity Interactive Data Current	Yes
Entity Shell Company	false

CONSOLIDATED BALANCE SHEETS (un

CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Current assets:
Cash and cash equivalents	$ 199,230	$ 220,633
Accounts receivable (net of allowances of $10,973 and $9,645 respectively)	544,405	564,830
Inventories, net	252,046	208,243
Prepaid expenses and other current assets	57,190	60,029
Total current assets	1,052,871	1,053,735
Property, plant, and equipment, net	1,102,604	1,031,582
Operating Lease, Right-of-Use Asset	123,080	0
Goodwill	2,403,503	2,322,928
Intangible Assets, Net (Excluding Goodwill)	594,167	604,614
Other assets	59,356	60,212
Total assets	5,335,581	5,073,071
Current liabilities:
Accounts payable	139,808	152,913
Accrued income taxes	12,916	15,460
Accrued payroll and other related liabilities	101,246	109,058
Capital Lease Obligations, Current	19,189	0
Accrued expenses and other	177,647	187,765
Total current liabilities	450,806	465,196
Long-term indebtedness	1,136,964	1,183,227
Deferred income taxes, net	156,333	151,038
Capital Lease Obligations, Noncurrent	104,064	0
Other Liabilities, Noncurrent	91,348	87,812
Total liabilities	1,939,515	1,887,273
Commitments and contingencies (see Note 8)
Common shares, with $.001 and $75 par value; 500,000 shares authorized; 84,791 and 84,517 shares issued and outstanding	1,987,107	1,998,564
Retained earnings	1,544,495	1,339,024
Accumulated other comprehensive income	(148,922)	(159,778)
Total shareholders' equity	3,382,680	3,177,810
Noncontrolling interest	13,386	7,988
Total equity	3,396,066	3,185,798
Total liabilities and equity	$ 5,335,581	$ 5,073,071

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (unaudited) Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Accounts Receivable, Allowance for Credit Loss, Current	$ 10,973	$ 9,645
Preferred Stock, Shares Authorized	50,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001
Common Stock, Shares Authorized	500,000,000	500,000,000
Common Stock, Shares, Issued	84,791,000	84,517,000
Common Stock, Shares, Outstanding	84,791,000	84,517,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 75
Intangible Assets, Net (Excluding Goodwill)	$ 594,167	$ 604,614

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Total revenues	$ 774,261	$ 696,238	$ 2,207,904	$ 2,013,957
Cost of revenues:
Cost of Goods and Services Sold	442,908	409,241	1,252,041	1,173,246
Gross Profit	331,353	286,997	955,863	840,711
Operating expenses:
Selling, general, and administrative	172,927	176,099	527,667	496,817
Research and development	16,487	15,167	48,321	47,160
Restructuring Costs	(448)	26,147	667	26,147
Total operating expenses	188,966	217,413	576,655	570,124
Income from operations	142,387	69,584	379,208	270,587
Non-operating expenses, net:
Interest expense	9,813	10,879	30,702	34,014
Interest income and miscellaneous expense	(1,378)	945	(2,163)	503
Total non-operating expenses, net	8,435	11,824	28,539	34,517
Income before income tax expense	133,952	57,760	350,669	236,070
Income tax expense	29,285	9,334	66,083	39,871
Net Income	104,667	48,426	284,586	196,199
Less: Net Income Attributable to Noncontrolling Interest	(263)	568	297	893
Net income (loss) attributable to shareholders	$ 104,930	$ 47,858	$ 284,289	$ 195,306
Net income per common share [Abstract]
Basic	$ 1.24	$ 0.57	$ 3.35	$ 2.31
Diluted	1.23	0.56	3.32	2.28
Cash dividends declared per common share outstanding	$ 0.37	$ 0.34	$ 1.08	$ 0.99
Product [Member]
Revenues:
Total revenues	$ 363,795	$ 327,639	$ 1,009,196	$ 921,088
Cost of revenues:
Cost of Goods and Services Sold	195,105	182,229	539,664	500,938
Service [Member]
Revenues:
Total revenues	410,466	368,599	1,198,708	1,092,869
Cost of revenues:
Cost of Goods and Services Sold	$ 247,803	$ 227,012	$ 712,377	$ 672,308

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Net Income	$ 104,667	$ 48,426	$ 284,586	$ 196,199
Less: Net Income Attributable to Noncontrolling Interest	(263)	568	297	893
Net income (loss) attributable to shareholders	104,930	47,858	284,289	195,306
Other comprehensive (loss) income
Amortization of pension and postretirement benefits plans costs, (net of taxes of $170, $169, $512 and $507, respectively)	(504)	(415)	(1,515)	(1,238)
Change in cumulative foreign current translation adjustment	77,299	(39,830)	12,371	(175,502)
Total other comprehensive (loss) income	76,795	(40,245)	10,856	(176,740)
Comprehensive income	181,725	7,613	295,145	18,566
Other comprehensive (loss) income (parenthetical)
Amortization of pension and postretirement benefits plans costs, tax	$ 170	$ 169	$ 512	$ 507

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands		9 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Net Income		$ 284,586	$ 196,199
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, and amortization		146,294	175,658
Deferred income taxes		(1,139)	2,218
Share-based compensation		18,862	18,357
(Gain) loss on the disposal of property, plant, and equipment, and intangibles, net		(540)	(208)
Loss on sale of businesses, net	[1]	2,553	(508)
Other items		(2,506)	(9,767)
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable, net		29,860	9,318
Inventories, net		(32,816)	(32,083)
Other current assets		3,615	(5,816)
Accounts payable		(18,610)	5,119
Accruals and other, net		(38,833)	2,092
Net cash provided by operating activities		391,326	360,579
Investing activities:
Purchases of property, plant, equipment, and intangibles, net		(153,649)	(113,236)
Proceeds from the sale of property, plant, equipment, and intangibles		387	5,563
Proceeds from Divestiture of Businesses, Net of Cash Divested		439	(196)
Purchase of investments		0	(4,955)
Acquisition of businesses, net of cash acquired		(107,166)	(13,313)
Payments for (Proceeds from) Other Investing Activities		0	(13,425)
Net cash used in investing activities		(259,989)	(139,562)
Financing activities:
Payments on long-term obligations		0	(85,000)
Proceeds (Payments) under credit facilities, net		(48,467)	35,416
Deferred financing fees and debt issuance costs		(1,206)	(298)
Acquisition related deferred or contingent consideration		(452)	(1,277)
Repurchases of ordinary shares		(40,322)	(56,254)
Cash dividends paid to ordinary shareholders		(91,595)	(83,750)
Payments of Dividends		(840)	(255)
Proceeds from issuance of equity to minority shareholders		6,050	0
Stock option and other equity transactions, net		22,958	7,610
Net cash used in financing activities		(153,874)	(183,808)
Effect of exchange rate changes on cash and cash equivalents		1,134	(13,837)
Increase (decrease) in cash and cash equivalents		(21,403)	23,372
Cash and cash equivalents at beginning of period		220,633	201,534
Cash and cash equivalents at end of period		$ 199,230	$ 224,906
[1]	For more information regarding our recent acquisitions and divestitures see Note 17 titled, "Business Acquisitions and Divestitures", as well as our Annual Report on Form 10-K for the year ended March 31, 2019 , dated May 30, 2019 .

CONSOLIDATED STATEMENT OF SHARE

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY Statement - USD ($) shares in Thousands, $ in Thousands	Total	AOCI Attributable to Noncontrolling Interest [Member]	Noncontrolling Interest [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Common Stock [Member]
Shares, Issued						84,747
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 3,217,300		$ 11,340	$ 11,685	$ 1,146,223	$ 2,048,037
Preferred Stock, Shares Outstanding	100
Preferred Stock, Value, issued	$ 15
Common Stock, Dividends, Per Share, Cash Paid	$ 0.99
Net Income (Loss) Attributable to Parent	$ 195,306			0	195,306	$ 0
Net Income (Loss) Attributable to Noncontrolling Interest	893		893
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	196,199
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(176,740)			(176,740)
Treasury Stock, Shares, Acquired						(556)
Payments for Repurchase of Common Stock	(56,254)			0	(611)	$ (55,643)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture						379
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	25,651		0	0	0	$ 25,651
Dividends, Common Stock, Cash	(83,750)		0	0	(83,750)	0
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	(5,637)	$ (1,970)			(3,667)
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(255)		(255)
Noncontrolling Interest, Change in Redemption Value	(4,207)		(4,207)	0	0	$ 0
Shares, Issued						84,495
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 3,124,977		7,114	(126,780)	1,232,062	$ 2,012,566
Preferred Stock, Shares Outstanding	100
Preferred Stock, Value, issued	$ 15
Common Stock, Dividends, Per Share, Cash Paid	$ 0.34
Net Income (Loss) Attributable to Parent	$ 47,858			0	47,858	$ 0
Net Income (Loss) Attributable to Noncontrolling Interest	568		568
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	48,426
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	(40,245)			(40,245)
Treasury Stock, Shares, Acquired						(9)
Payments for Repurchase of Common Stock	(354)			0	2,326	$ (2,680)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture						84
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	8,159		0	0	0	$ 8,159
Dividends, Common Stock, Cash	(28,745)		0	0	(28,745)	0
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(255)		(255)
Noncontrolling Interest, Change in Redemption Value	344		344	0	0	$ 0
Shares, Issued						84,570
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 3,112,307
Preferred Stock, Shares Outstanding	100
Preferred Stock, Value, issued	$ 15
Stockholders' Equity Attributable to Parent				(167,025)	1,253,501	$ 2,018,045
Stockholders' Equity Attributable to Noncontrolling Interest			7,771
Shares, Issued						84,517
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	3,185,798		7,988	(159,778)	1,339,024	$ 1,998,564
Stockholders' Equity Attributable to Parent	3,177,810
Stockholders' Equity Attributable to Noncontrolling Interest	$ 7,988
Common Stock, Dividends, Per Share, Cash Paid	$ 1.08
Net Income (Loss) Attributable to Parent	$ 284,289			0	284,289	$ 0
Net Income (Loss) Attributable to Noncontrolling Interest	297		297
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	284,586
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	10,856			10,856
Treasury Stock, Shares, Acquired						(304)
Payments for Repurchase of Common Stock	(40,322)			0	12,777	$ (53,099)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture						578
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	41,642		0	0	0	$ 41,642
Dividends, Common Stock, Cash	(91,595)		0	0	(91,595)	0
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(840)		(840)
Contributions from noncontrolling interests	6,050		6,050
Noncontrolling Interest, Change in Redemption Value	(109)		(109)	0	0	$ 0
Shares, Issued						84,797
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	$ 3,237,645		8,977	(225,717)	1,472,725	$ 1,981,660
Common Stock, Dividends, Per Share, Cash Paid	$ 0.37
Net Income (Loss) Attributable to Parent	$ 104,930			0	104,930	$ 0
Net Income (Loss) Attributable to Noncontrolling Interest	(263)		(263)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	104,667
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	76,795			76,795
Treasury Stock, Shares, Acquired						(25)
Payments for Repurchase of Common Stock	(2,454)			0	(1,785)	$ (669)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture						19
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	6,116		0	0	0	$ 6,116
Dividends, Common Stock, Cash	(31,375)		0	0	(31,375)	0
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	(840)		(840)
Contributions from noncontrolling interests	6,050		6,050
Noncontrolling Interest, Change in Redemption Value	(538)		(538)	0	0	$ 0
Shares, Issued						84,791
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	3,396,066
Stockholders' Equity Attributable to Parent	3,382,680			$ (148,922)	$ 1,544,495	$ 1,987,107
Stockholders' Equity Attributable to Noncontrolling Interest	$ 13,386		$ 13,386

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies(Notes)	9 Months Ended
	Dec. 31, 2019
Notes To Financial Statements [Abstract]
Nature of Operations	Nature of Operations and Summary of Significant Accounting Policies Nature of Operations On March 28, 2019, STERIS plc, a public limited company organized under the laws of England and Wales (“STERIS UK”), completed a redomiciliation from the United Kingdom to Ireland (the “Redomiciliation”). The Redomiciliation was achieved through the insertion of a new Irish public limited holding company (“STERIS plc”) on top of STERIS UK pursuant to a court-approved scheme of arrangement under English law (the “Scheme”). Following the Scheme effectiveness, STERIS UK was re-registered as a private limited company with the name STERIS Limited, and STERIS Emerald IE Limited, a company established in Ireland and a wholly-owned direct subsidiary of STERIS plc, was interposed as the direct parent company of STERIS UK. STERIS is a leading provider of infection prevention and other procedural products and services. Our focus is primarily on healthcare, pharmaceutical and medical device Customers. We offer Customers a unique mix of innovative capital equipment products, such as sterilizers and washers, surgical tables, lights and equipment management systems and connectivity solutions such as operating room integration; consumable products such as detergents and gastrointestinal endoscopy accessories and other products; and services, including capital equipment installation and maintenance, contract sterilization and microbial reduction of medical devices, instrument and scope repair solutions, testing and validation services and instrument reprocessing. Our fiscal year ends on March 31. References in this Quarterly Report to a particular “year” or “year-end” mean our fiscal year. The significant accounting policies applied in preparing the accompanying consolidated financial statements of the Company are summarized below: Interim Financial Statements We prepared the accompanying unaudited consolidated financial statements of the Company according to accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and the instructions to the Quarterly Report on Form 10-Q and Rule 10-01 of Regulation S-X. This means that they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Our unaudited interim consolidated financial statements contain all material adjustments (including normal recurring accruals and adjustments) management believes are necessary to fairly state our financial condition, results of operations, cash flows and shareholders' equity for the periods presented. These interim consolidated financial statements should be read together with the consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended March 31, 2019 , dated May 30, 2019 . The Consolidated Balance Sheet at March 31, 2019 was derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Principles of Consolidation We use the consolidation method to report our investment in our subsidiaries. Therefore, the accompanying consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned subsidiaries. We eliminate inter-company accounts and transactions when we consolidate these accounts. Investments in equity of unconsolidated affiliates, over which the Company has significant influence, but not control, over the financial and operating polices, are accounted for primarily using the equity method. These investments are immaterial to the Company's Consolidated Financial Statements. Use of Estimates We make certain estimates and assumptions when preparing financial statements according to U.S. GAAP that affect the reported amounts of assets and liabilities at the financial statement dates and the reported amounts of revenues and expenses during the periods presented. These estimates and assumptions involve judgments with respect to many factors that are difficult to predict and are beyond our control. Actual results could be materially different from these estimates. We revise the estimates and assumptions as new information becomes available. This means that operating results for the three and nine month periods ended December 31, 2019 are not necessarily indicative of results that may be expected for future quarters or for the full fiscal year ending March 31, 2020. Revenue Recognition and Associated Liabilities We adopted Accounting Standards Update ("ASU") 2014-09 “Revenue from Contracts with Customers” and the subsequently issued amendments on April 1, 2018 using the modified retrospective approach to contracts that were not completed as of April 1, 2018. Under this standard, certain capital equipment contracts are comprised of a single performance obligation, resulting in the deferral of the corresponding capital equipment revenue and cost of revenues until installation is complete. Previously, these capital equipment revenues and cost of revenues were recognized based upon shipping terms. We recorded a cumulative effect adjustment in the beginning of fiscal 2019 to Retained earnings of $5,637 , based on the current terms and conditions for certain open capital equipment contracts as of March 31, 2018. Revenue is recognized when obligations under the terms of the contract are satisfied and control of the promised products or services have transferred to the Customer. Revenues are measured at the amount of consideration that we expect to be paid in exchange for the products or services. Product revenue is recognized when control passes to the Customer, which is generally based on contract or shipping terms. Service revenue is recognized when the Customer benefits from the service, which occurs either upon completion of the service or as it is provided to the Customer. Our Customers include end users as well as dealers and distributors who market and sell our products. Our revenue is not contingent upon resale by the dealer or distributor, and we have no further obligations related to bringing about resale. Our standard return and restocking fee policies are applied to sales of products. Shipping and handling costs charged to Customers are included in Product revenues. The associated expenses are treated as fulfillment costs and are included in Cost of revenues. Revenues are reported net of sales and value-added taxes collected from Customers. We have individual Customer contracts that offer discounted pricing. Dealers and distributors may be offered sales incentives in the form of rebates. We reduce revenue for discounts and estimated returns, rebates, and other similar allowances in the same period the related revenues are recorded. The reduction in revenue for these items is estimated based on historical experience and trend analysis to the extent that it is probable that a significant reversal of revenue will not occur. Estimated returns are recorded gross on the Consolidated Balance Sheets. In transactions that contain multiple performance obligations, such as when products, maintenance services, and other services are combined, we recognize revenue as each product is delivered or service is provided to the Customer. We allocate the total arrangement consideration to each performance obligation based on its relative standalone selling price, which is the price for the product or service when it is sold separately. Payment terms vary by the type and location of the Customer and the products or services offered. Generally, the time between when revenue is recognized and when payment is due is not significant. We do not evaluate whether the selling price contains a financing component for contracts that have a duration of less than one year. We do not capitalize sales commissions as substantially all of our sales commission programs have an amortization period of one year or less. Certain costs to fulfill a contract are capitalized and amortized over the term of the contract if they are recoverable, directly related to a contract and generate resources that we will use to fulfill the contract in the future. At December 31, 2019 , assets related to costs to fulfill a contract were not material to our Consolidated Financial Statements. Refer to Note 9, titled "Business Segment Information" for disaggregation of revenue. Product Revenue Product revenues consist of revenues generated from sales of consumables and capital equipment. These contracts are primarily based on a Customer’s purchase order and may include a Distributor, Dealer or Group Purchasing Organization (GPO) agreement. We recognize revenue for sales of product when control passes to the Customer, which generally occurs either when the products are shipped or when they are received by the Customer. Revenue related to certain capital equipment products is deferred until installation is complete as the capital equipment and installation are highly integrated and form a single performance obligation. Service Revenue Within our Healthcare Products and Life Sciences segments, service revenues consist of revenue generated from parts and labor associated with the maintenance, repair and installation of capital equipment. These contracts are primarily based on a Customer’s purchase order and may include a Distributor, Dealer, or GPO agreement. For maintenance, repair and installation of capital equipment, revenue is recognized upon completion of the service. We also offer preventive maintenance and separately priced extended warranty agreements to our Customers, which require us to maintain and repair our products over the duration of the contract. Generally, these contract terms are cancelable without penalty and range from one to five years. Amounts received under these Customer contracts are initially recorded as a service liability and are recognized as service revenue ratably over the contract term using a time-based input measure. Within our Healthcare Specialty Services segment, revenues relate primarily to outsourced reprocessing services and instrument repairs. Contracts for outsourced reprocessing services are primarily based on an agreement with a Customer, ranging in length from several months to 15 years. Outsourced reprocessing services revenue is recognized ratably over the contract term using a time-based input measure, adjusted for volume and other performance metrics, to the extent that it is probable that a significant reversal of revenue will not occur. Contracts for instrument repairs are primarily based on a Customer’s purchase order, and the associated revenue is recognized upon completion of the repair. Within our Applied Sterilization Technologies segment, service revenues include contract sterilization and laboratory services. Sales contracts for contract sterilization and laboratory services are primarily based on a Customer’s purchase order and associated Customer agreement and revenues are generally recognized upon completion of the service. Contract Liabilities Payments received from Customers are based on invoices or billing schedules as established in contracts with Customers. Deferred revenue is recorded when payment is received in advance of performance under the contract. Deferred revenue is recognized as revenue upon completion of the performance obligation, which generally occurs within one year. During the first nine months of fiscal 2020, $46,744 of the March 31, 2019 deferred revenue balance was recorded as revenue. During the first nine months of fiscal 2019, $25,590 of the March 31, 2018 deferred revenue balance was recorded as revenue. Refer to Note 6, titled "Additional Consolidated Balance Sheet Information" for Deferred revenue balances. Service Liabilities Payments received in advance of performance for cancelable preventative maintenance and separately priced extended warranty contracts are recorded as service liabilities. Service liabilities are recognized as revenue as performance is rendered under the contract. Refer to Note 6, titled "Additional Consolidated Balance Sheet Information" for Service liability balances. Remaining Performance Obligations Remaining performance obligations reflect only the performance obligations related to agreements for which we have a firm commitment from a Customer to purchase, and exclude variable consideration related to unsatisfied performance obligations. With regard to products, these remaining performance obligations include capital equipment and consumable orders which have not shipped. With regard to service, these remaining performance obligations primarily include installation, certification, and outsourced reprocessing services. As of December 31, 2019, the transaction price allocated to remaining performance obligations was approximately $960,000 . We expect to recognize approximately 48% of the transaction price within one year and approximately 44% beyond one year. The remainder has yet to be scheduled for delivery. Recently Issued Accounting Standards Impacting the Company Recently Issued Accounting Standards Impacting the Company are presented in the following table: Standard Date of Issuance Description Date of Adoption Effect on the financial statements or other significant matters Standards that have recently been adopted ASU 2016-02, "Leases" (Topic 842) February 2016 The standard requires lessees to record all leases, whether finance or operating, on the balance sheet. An asset will be recorded to represent the right to use the leased asset, and a liability will be recorded to represent the lease obligation. The standard is effective for annual periods beginning after December 15, 2018 and interim periods within that period. Early adoption is permitted. First Quarter Fiscal 2020 We adopted this standard, and related amendments, effective April 1, 2019 using the modified retrospective transition method and have not restated prior periods. We elected to use the package of practical expedients permitted under the transition guidance, which allows the carry forward of historical lease classification of existing leases. We also elected the practical expedient related to land easements, allowing us to carry forward our accounting treatment for land easements on existing or expired agreements. We made an accounting policy election to not recognize lease assets or liabilities for leases with a term of 12 months or less and elected to not separate non-lease components from lease components to which they relate for all asset classes. We recorded lease right-of-use assets and lease liabilities for operating leases totaling $120,562. The adoption of the standard did not have a material impact to the Consolidated Statements of Income or Cash Flows. Additional information is disclosed in Note 8 under the heading "Leases". ASU 2017-12 "Targeted Improvements to Accounting for Hedging Activities" (Topic 815) August 2017 The standard provides targeted improvements to accounting for hedging activities by expanding an entity’s ability to hedge non-financial and financial risk components and reduce complexity in fair value hedges of interest rate risk. The guidance eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. The guidance also eases certain documentation and assessment requirements and modifies the accounting for components excluded from the assessment of hedge effectiveness. The standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted in any interim period after issuance of the standard. First Quarter Fiscal 2020 We adopted this standard effective April 1, 2019 with no material impact to our Consolidated Balance Sheets. The impact to our Consolidated Statements of Income will depend on the value of future hedging activities. ASU 2018-02 "Income Statement - Reporting Comprehensive Income" (Topic 220) February 2018 The standard allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act ("TCJA") and requires certain disclosures about stranded tax effects. The underlying guidance requiring that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. This standard is effective for fiscal years beginning after December 15, 2018 and interim periods within those years. Early adoption is permitted. First Quarter Fiscal 2020 We have elected not to reclassify the income tax effects of the TCJA from Accumulated Other Comprehensive Income ("AOCI") to retained earnings. Our policy is to release income tax effects from AOCI when individual units of account are sold or terminated. Standards that have not yet been adopted ASU 2016-13, "Measurement of Credit Losses on Financial Instruments" June 2016 The standard requires a financial asset (or group of financial assets) measured at amortized cost to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. Credit losses relating to available-for-sale debt securities should be recorded through an allowance for credit losses. The standard is effective for annual periods beginning after December 15, 2019. Early adoption is permitted. N/A We are in the process of evaluating the impact that the standard will have on our consolidated financial statements. ASU 2018-13 "Fair Value Measurement (Topic 820) Disclosure Framework- Changes to Disclosure Requirements for Fair Value Measurement” August 2018 The standard modifies the disclosure requirements by adding, removing, and modifying certain required disclosures for fair value measurements for assets and liabilities disclosed within the fair value hierarchy. The standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019 and early adoption is permitted. N/A We do not expect this standard to have a material impact on our consolidated financial statements as it modifies disclosure requirements only. ASU 2018-14 "Compensation- Retirement Benefits - Defined Benefit Plans- General Topic (715-20): Disclosure Framework- Changes to the Disclosure Requirements for Defined Benefit Plans" August 2018 The standard modifies the disclosure requirements by adding, removing, and modifying certain required disclosures for employers that sponsor defined benefit pension or other post-retirement benefit plans. The standard also clarifies disclosure requirements for defined benefit pension plans relating to the projected benefit obligation and accumulated benefit obligation. The standard is effective for fiscal years ending after December 15, 2019 and early adoption is permitted. N/A We do not expect this standard to have a material impact on our consolidated financial statements as it modifies disclosure requirements only. ASU 2018-15 "Intangibles- Goodwill and Other- Internal Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract" August 2018 The standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The standard is effective for fiscal years beginning after December 15, 2019 and early adoption is permitted. N/A We do not expect this standard to have a material impact on our consolidated financial statements. ASU 2018-12 “Income Taxes (Topic 740) December 2019 The standard provides final guidance that simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in ASC 740 related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The guidance simplifies accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The standard is effective for fiscal years ending after December 15, 2020 and early adoption is permitted. N/A We are in the process of evaluating the impact that the standard will have on our consolidated financial statements. A detailed description of our significant and critical accounting policies, estimates, and assumptions is included in our consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2019 , dated May 30, 2019 . Our significant and critical accounting policies, estimates, and assumptions have not changed materially from March 31, 2019 .

Inventories, Net (Notes)

Inventories, Net (Notes)	9 Months Ended
	Dec. 31, 2019
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, Net We use the last-in, first-out (“LIFO”) and first-in, first-out (“FIFO”) cost methods to value inventory. Inventory valued using the LIFO cost method is stated at the lower of cost or market. Inventory valued using the FIFO cost method is stated at the lower of cost or net realizable value. An actual valuation of inventory under the LIFO method is made only at the end of the fiscal year based on the inventory levels and costs at that time. Accordingly, interim LIFO calculations are based on management’s estimates of expected year-end inventory levels and are subject to the final fiscal year-end LIFO inventory valuation. Inventory costs include material, labor, and overhead. Inventories, net consisted of the following: December 31, March 31, Raw materials $ 93,687 $ 83,009 Work in process 35,936 30,694 Finished goods 158,889 131,051 LIFO reserve (17,804 ) (16,757 ) Reserve for excess and obsolete inventory (18,662 ) (19,754 ) Inventories, net $ 252,046 $ 208,243

Property, Plant and Equipment (

Property, Plant and Equipment (Notes)	9 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Information related to the major categories of our depreciable assets is as follows: December 31, March 31, Land and land improvements (1) $ 66,874 $ 63,522 Buildings and leasehold improvements 510,027 480,359 Machinery and equipment 683,657 656,956 Information systems 174,945 169,711 Radioisotope 509,609 483,080 Construction in progress (1) 180,172 133,689 Total property, plant, and equipment 2,125,284 1,987,317 Less: accumulated depreciation and depletion (1,022,680 ) (955,735 ) Property, plant, and equipment, net $ 1,102,604 $ 1,031,582 (1) Land is not depreciated. Construction in progress is not depreciated until placed in service.

Debt (Notes)

Debt (Notes)	9 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Debt	Debt Indebtedness was as follows: December 31, March 31, Credit Agreement $ 255,217 $ 301,846 Private Placement 885,237 884,967 Deferred financing costs (3,490 ) (3,619 ) Other — 33 Total long term debt $ 1,136,964 $ 1,183,227 Additional information regarding our indebtedness is included in the notes to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2019 , dated May 30, 2019 .

Additional Consolidated Balance

Additional Consolidated Balance Sheets Information (Notes)	9 Months Ended
	Dec. 31, 2019
Notes To Financial Statements [Abstract]
Additional Consolidated Balance Sheets Information	Additional Consolidated Balance Sheet Information Additional information related to our Consolidated Balance Sheets is as follows: December 31, March 31, Accrued payroll and other related liabilities: Compensation and related items $ 29,744 $ 37,251 Accrued vacation/paid time off 11,113 10,191 Accrued bonuses 40,902 40,194 Accrued employee commissions 15,808 17,854 Other postretirement benefit obligations-current portion 1,633 1,633 Other employee benefit plans obligations-current portion 2,046 1,935 Total accrued payroll and other related liabilities $ 101,246 $ 109,058 Accrued expenses and other: Deferred revenues $ 45,355 $ 55,333 Service liabilities 44,701 42,101 Self-insured risk reserves-current portion 7,475 6,537 Accrued dealer commissions 16,621 15,283 Accrued warranty 7,128 7,194 Asset retirement obligation-current portion 2,669 2,656 Other 53,698 58,661 Total accrued expenses and other $ 177,647 $ 187,765 Other liabilities: Self-insured risk reserves-long-term portion $ 14,445 $ 14,445 Other postretirement benefit obligations-long-term portion 8,740 10,918 Defined benefit pension plans obligations-long-term portion 15,001 16,168 Other employee benefit plans obligations-long-term portion 2,645 4,711 Accrued long-term income taxes 13,586 13,515 Asset retirement obligation-long-term portion 10,077 9,730 Other 26,854 18,325 Total other liabilities $ 91,348 $ 87,812

Income Tax Expense (Notes)

Income Tax Expense (Notes)	9 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income Tax Expense	Income Tax Expense The Tax Cuts and Jobs Act (the “TCJA”) was enacted on December 22, 2017. The TCJA reduced the maximum U.S. federal corporate income tax rate to 21.0% , required companies to pay a one-time transition tax on earnings of certain foreign subsidiaries that were previously tax deferred and created new taxes on certain foreign sourced earnings. The Company applied the guidance in Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cut and Jobs Act when accounting for the enactment-date effects of the TCJA. We consider the tax expense recorded for the TCJA to be complete at this time. However, it is possible that additional legislation, regulations, interpretations and/or guidance may be issued in the future that may result in additional adjustments to the tax expense recorded related to the TCJA. We will continue to monitor and assess the impact of any new developments. The effective income tax rates for the three month periods ended December 31, 2019 and 2018 were 21.9% and 16.2% , respectively. The effective income tax rates for the nine month periods ended December 31, 2019 and 2018 were 18.8% and 16.9% , respectively. The increase in the fiscal 2020 rates compared to the prior year periods is primarily attributable to increased profits earned in higher tax jurisdictions. Income tax expense is provided on an interim basis based upon our estimate of the annual effective income tax rate, adjusted each quarter for discrete items. In determining the estimated annual effective income tax rate, we analyze various factors, including projections of our annual earnings and taxing jurisdictions in which the earnings will be generated, the impact of state and local income taxes, our ability to use tax credits and net operating loss carry forwards, and available tax planning alternatives. We operate in numerous taxing jurisdictions and are subject to regular examinations by various United States federal, state and local, as well as foreign jurisdictions. We are no longer subject to United States federal examinations for years before fiscal 2016 and, with limited exceptions, we are no longer subject to United States state and local, or non-United States, income tax examinations by tax authorities for years before fiscal 2015. We remain subject to tax authority audits in various jurisdictions wherever we do business. In May 2019, we received two notices of proposed tax adjustment from the U.S. Internal Revenue Service (the “IRS”) regarding the deductibility of interest paid on certain intercompany debt. The notices relate to fiscal years 2016 and 2017. In September 2019, we received another notice of proposed adjustment for the same issue, for the 2018 fiscal year. The IRS adjustments would result in a cumulative tax liability of approximately $40,000 . We are contesting the IRS’s assertions, and intend to pursue available remedies such as appeals and litigation, if necessary. We have not established reserves related to these notices. An unfavorable outcome is not expected to have a material adverse impact on our consolidated financial position but could be material to our consolidated results of operations and cash flows for any one period.

Contingencies (Notes)

Contingencies (Notes)	9 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Commitments and Contingencies We are, and will likely continue to be, involved in a number of legal proceedings, government investigations, and claims, which we believe generally arise in the course of our business, given our size, history, complexity, and the nature of our business, products, Customers, regulatory environment, and industries in which we participate. These legal proceedings, investigations and claims generally involve a variety of legal theories and allegations, including, without limitation, personal injury (e.g., slip and falls, burns, vehicle accidents), product liability or regulation (e.g., based on product operation or claimed malfunction, failure to warn, failure to meet specification, or failure to comply with regulatory requirements), product exposure (e.g., claimed exposure to chemicals, asbestos, contaminants, radiation), property damage (e.g., claimed damage due to leaking equipment, fire, vehicles, chemicals), commercial claims (e.g., breach of contract, economic loss, warranty, misrepresentation), financial (e.g., taxes, reporting), employment (e.g., wrongful termination, discrimination, benefits matters), and other claims for damage and relief. We believe we have adequately reserved for our current litigation and claims that are probable and estimable, and further believe that the ultimate outcome of these pending lawsuits and claims will not have a material adverse effect on our consolidated financial position or results of operations taken as a whole. Due to their inherent uncertainty, however, there can be no assurance of the ultimate outcome or effect of current or future litigation, investigations, claims or other proceedings (including without limitation the matters discussed below). For certain types of claims, we presently maintain insurance coverage for personal injury and property damage and other liability coverages in amounts and with deductibles that we believe are prudent, but there can be no assurance that these coverages will be applicable or adequate to cover adverse outcomes of claims or legal proceedings against us. On May 31, 2012, our Albert Browne Limited subsidiary received a warning letter from the FDA regarding chemical indicators manufactured in the United Kingdom. These devices are intended for the monitoring of certain sterilization and other processes. The FDA warning letter states that the agency has concerns regarding operational business processes. We do not believe that the FDA's concerns are related to product performance, or that they result from Customer complaints. We have reviewed our processes with the agency and finalized our remediation measures. We do not currently believe that the impact of this event will have a material adverse effect on our financial results. Civil, criminal, regulatory or other proceedings involving our products or services could possibly result in judgments, settlements or administrative or judicial decrees requiring us, among other actions, to pay damages or fines or effect recalls, or be subject to other governmental, Customer or other third party claims or remedies, which could materially effect our business, performance, prospects, value, financial condition, and results of operations. For additional information regarding these matters, see the following portions of our Annual Report on Form 10-K for the year ended March 31, 2019, dated May 30, 2019: Item 1 titled, "Business - Information with respect to our Business in General - Government Regulation", the "Risk Factors" in Item 1A thereof titled, "Product related regulations and claims", and the "Risk Factors", in Part II Item 1A hereof. From time to time, STERIS is also involved in legal proceedings as a plaintiff involving contract, patent protection, and other claims asserted by us. Gains, if any, from these proceedings are recognized when they are realized. We are subject to taxation from United States federal, state and local, and non-U.S. jurisdictions. Tax positions are settled primarily through the completion of audits within each individual jurisdiction or the closing of statutes of limitation. Changes in applicable tax law or other events may also require us to revise past estimates. We describe income taxes further in Note 7 to our consolidated financial statements titled, “Income Tax Expense” in this Quarterly Report on Form 10-Q. Leases We lease manufacturing, warehouse and office space, service facilities, vehicles, equipment and communication systems. Certain leases contain options that provide us with the ability to extend the lease term. Such options are included in the lease term when it is reasonably certain that the option will be exercised. We made an accounting policy election to not recognize lease assets or lease liabilities for leases with a lease term of twelve months or less. We determine if an agreement contains a lease and classify our leases as operating or finance at the lease commencement date. Finance leases are generally those leases for which we will pay substantially all the underlying asset’s fair value or will use the asset for all or a major part of its economic life, including circumstances in which we will ultimately own the asset. Lease assets arising from finance leases are included in property, plant and equipment, net and the liabilities are included in other liabilities. For finance leases, we recognize interest expense using the effective interest method and we recognize amortization expense on the lease asset over the shorter of the lease term or the useful life of the asset. Our finance leases are not material as of December 31, 2019 and for the nine month period then ended. Operating lease assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term. Lease assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. As most leases do not provide an implicit interest rate, we estimate an incremental borrowing rate to determine the present value of lease payments. Our estimated incremental borrowing rate reflects a secured rate based on recent debt issuances, our estimated credit rating, lease term, as well as publicly available data for instruments with similar characteristics. For operating leases, we recognize lease cost on a straight-line basis over the term of the lease. When accounting for leases, we combine payments for leased assets, related services and other components of a lease. The components of operating lease expense are as follows: Three months ended December 31, 2019 Nine months ended December 31, 2019 Fixed operating lease expense $ 7,079 $ 20,894 Variable operating lease expense 1,981 4,240 Total operating lease expense $ 9,060 $ 25,134 Supplemental cash flow information related to operating leases is as follows: Nine months ended December 31, 2019 Cash paid for amounts included in the measurement of operating lease liabilities $ 20,656 Right-of-use assets obtained in exchange for operating lease obligations, net $ 27,089 Maturities of lease liabilities at December 31, 2019 are as follows : December 31, Remainder of 2020: $ 6,732 2021 22,915 2022 18,564 2023 15,185 2024 12,647 2025 and thereafter 85,388 Total operating lease payments 161,431 Less imputed interest 38,178 Total operating lease liabilities $ 123,253 Supplemental information related to operating leases is as follows: December 31, 2019 Weighted-average remaining lease term of operating leases 11.6 years Weighted-average discount rate of operating leases 4.6 % Prior to the adoption of ASU 2016-02, " Leases" (Topic 842) future minimum annual rentals payable under noncancelable operating lease agreements in excess of one year as of March 31, 2019 were as follows: March 31, 2019 2020 $ 24,008 2021 18,567 2022 13,917 2023 11,929 2024 and thereafter 93,939 Total minimum lease payments $ 162,360 In the preceding table, the future minimum annual rentals payable under noncancelable leases denominated in foreign currencies have been calculated using March 31, 2019 foreign currency exchange rates.

Business Segment Information (N

Business Segment Information (Notes)	9 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information We operate and report our financial information in four reportable business segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. Non-allocated operating costs that support the entire Company and items not indicative of operating trends are excluded from segment operating income. Our Healthcare Products segment offers infection prevention and procedural solutions for healthcare providers worldwide, including consumable products, equipment maintenance and installation services, and capital equipment. Our Healthcare Specialty Services segment provides a range of specialty services for healthcare providers including hospital sterilization services, and instrument and scope repairs. Our Life Sciences segment offers consumable products, equipment maintenance, specialty services and capital equipment for pharmaceutical manufacturers and research facilities. Our Applied Sterilization Technologies segment offers contract sterilization and testing services for medical device and pharmaceutical manufacturers . We disclose a measure of segment income that is consistent with the way management operates and views the business. The accounting policies for reportable segments are the same as those for the consolidated Company. For the three and nine months ended December 31, 2019 , revenues from a single Customer did not represent ten percent or more of any reportable segment’s revenues. Additional information regarding our segments is included in our consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2019 , dated May 30, 2019 . Financial information for each of our segments is presented in the following table: Three Months Ended December 31, Nine Months Ended December 31, 2019 2018 2019 2018 Revenues: Healthcare Products $ 365,353 $ 338,264 $ 1,025,421 $ 951,779 Healthcare Specialty Services 143,869 127,761 414,816 374,564 Life Sciences 108,773 93,451 304,208 275,571 Applied Sterilization Technologies 156,266 136,762 463,459 412,043 Total revenues $ 774,261 $ 696,238 $ 2,207,904 $ 2,013,957 Operating income (loss): Healthcare Products $ 89,849 $ 82,820 $ 250,510 $ 217,011 Healthcare Specialty Services 15,378 16,007 48,267 44,422 Life Sciences 37,731 33,129 103,085 96,260 Applied Sterilization Technologies 65,468 54,798 198,889 164,417 Corporate (45,260 ) (42,025 ) (151,613 ) (135,053 ) Total operating income before adjustments $ 163,166 $ 144,729 $ 449,138 $ 387,057 Less: Adjustments Amortization of acquired intangible assets (1) $ 17,508 $ 33,894 $ 53,407 $ 68,907 Acquisition and integration related charges (2) 1,721 1,816 5,585 6,197 Redomiciliation and tax restructuring costs (3) 487 4,747 3,274 5,633 (Gain) on fair value adjustment of acquisition related contingent consideration (1) — — — (842 ) Net loss (gain) on divestiture of businesses (1) 76 (1,170 ) 2,553 (508 ) Amortization of property "step up" to fair value (1) 602 615 1,783 1,840 Restructuring charges (4) 385 35,243 3,328 35,243 Total operating income $ 142,387 $ 69,584 $ 379,208 $ 270,587 (1) For more information regarding our recent acquisitions and divestitures see Note 17 titled, "Business Acquisitions and Divestitures", as well as our Annual Report on Form 10-K for the year ended March 31, 2019 , dated May 30, 2019 . (2) Acquisition and integration related charges include transaction costs and integration expenses associated with acquisitions. (3) Costs incurred in connection with the Redomiciliation. (4) For more information regarding our restructuring activities see Note 2 titled, "Restructuring". Additional information regarding our fiscal 2020 and fiscal 2019 revenue is disclosed in the following tables: Three Months Ended December 31, Nine Months Ended December 31, 2019 2018 2019 2018 Healthcare Products: Capital equipment $ 148,016 $ 143,180 $ 410,249 $ 384,086 Consumables 121,517 107,451 338,691 309,545 Service 95,820 87,633 276,481 258,148 Total Healthcare Products Revenues $ 365,353 $ 338,264 $ 1,025,421 $ 951,779 Total Healthcare Specialty Services Revenues $ 143,869 $ 127,761 $ 414,816 $ 374,564 Life Sciences: Capital equipment $ 31,762 $ 23,363 $ 84,993 $ 72,289 Consumables 46,370 41,157 132,939 119,844 Service 30,641 28,931 86,276 83,438 Total Life Sciences Revenues $ 108,773 $ 93,451 $ 304,208 $ 275,571 Applied Sterilization Technologies Service Revenues $ 156,266 $ 136,762 $ 463,459 $ 412,043 Total Revenues $ 774,261 $ 696,238 $ 2,207,904 $ 2,013,957 Three Months Ended December 31, Nine Months Ended December 31, 2019 2018 2019 2018 Revenues: Ireland $ 16,126 $ 14,215 $ 46,405 $ 40,873 United States 562,502 494,328 1,611,755 1,423,101 Other locations 195,633 187,695 549,744 549,983 Total Revenues $ 774,261 $ 696,238 $ 2,207,904 $ 2,013,957

Shares and Preferred Shares (No

Shares and Preferred Shares (Notes)	9 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Ordinary shares In connection with the Redomiciliation, STERIS UK shareholders received STERIS plc shares pursuant to a scheme of arrangement under UK law. Each STERIS UK ordinary shareholder received one ordinary share, par value $75.00 , of STERIS plc for each STERIS UK ordinary share held, which STERIS UK shares were canceled. On May 3, 2019, the par value of STERIS plc shares issued pursuit to the scheme of arrangement was reduced to $0.001 per share. We calculate basic earnings per share based upon the weighted average number of shares outstanding. We calculate diluted earnings per share based upon the weighted average number of shares outstanding plus the dilutive effect of share equivalents calculated using the treasury stock method. The following is a summary of shares and share equivalents outstanding used in the calculations of basic and diluted earnings per share: Three Months Ended December 31, Nine Months Ended December 31, Denominator (shares in thousands): 2019 2018 2019 2018 Weighted average shares outstanding—basic 84,788 84,540 84,740 84,587 Dilutive effect of share equivalents 840 901 890 889 Weighted average shares outstanding and share equivalents—diluted 85,628 85,441 85,630 85,476 Options to purchase the following number of shares were outstanding but excluded from the computation of diluted earnings per share because the combined exercise prices, unamortized fair values, and assumed tax benefits upon exercise were greater than the average market price for the shares during the periods, so including these options would be anti-dilutive: Three Months Ended December 31, Nine Months Ended December 31, (shares in thousands) 2019 2018 2019 2018 Number of share options 347 435 270 331 Additional Authorized Shares The Company has an additional authorized share capital of 50,000,000 preferred shares of $0.001 par value each, plus 25,000 deferred ordinary shares of €1.00 par value each, in order to satisfy minimum statutory capital requirements for all Irish public limited companies.

Repurchases of Shares (Notes)

Repurchases of Shares (Notes)	9 Months Ended
	Dec. 31, 2019
Notes To Financial Statements [Abstract]
Repurchases of shares	Repurchases of Ordinary Shares On August 9, 2016, STERIS UK announced that its Board of Directors had authorized the purchase of up to $300,000 (net of taxes, fees and commissions) of our ordinary shares. As a result of the Redomiciliation, that share repurchase authorization terminated. On May 7, 2019, our Board of Directors authorized the continuation of the share repurchase program resulting in a share repurchase authorization of $78,979 (net of taxes, fees and commissions). On July 30, 2019, our Board of Directors approved an increase to the May 7, 2019 authorization of an additional amount of $300,000 (net of taxes, fees and commissions). As of December 31, 2019, there was approximately $348,979 (net of taxes, fees and commissions) of remaining availability under the authorization. Under the authorizations, the Company may repurchase its shares from time to time through open market purchases, including 10b5-1 plans. Any repurchase program may be activated, suspended or discontinued at any time. During the first nine months of fiscal 2020 , we repurchased 205,059 of our ordinary shares for the aggregate amount of $30,000 (net of fees and commissions) pursuant to this authorization. During the first nine months of fiscal 2019, we repurchased 445,700 of our ordinary shares for the aggregate amount of $47,082 (net of fees and commissions) pursuant to the 2016 authorization. During the first nine months of fiscal 2020 , we obtained 100,124 of our ordinary shares in the aggregate amount of $10,318 in connection with share based compensation award programs. During the first nine months of fiscal 2019, we obtained 110,445 of our ordinary shares in the aggregate amount of $8,151

Share-Based Compensation (Notes

Share-Based Compensation (Notes)	9 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation We maintain a long-term incentive plan that makes available shares for grants, at the discretion of the Board of Directors or Compensation Committee of the Board of Directors, to officers, directors, and key employees in the form of stock options, restricted shares, restricted share units, stock appreciation rights and share grants. We satisfy share award incentives through the issuance of new ordinary shares. Stock options provide the right to purchase our shares at the market price on the date of grant, or for options granted to employees in fiscal 2019 and thereafter, 110% of the market price on the date of grant, subject to the terms of the plan and agreements. Generally, one-fourth of the stock options granted to employees become exercisable for each full year of employment following the grant date. Stock options granted generally expire 10 years after the grant date, or in some cases earlier if the option holder is no longer employed by us. Restricted shares and restricted share units generally cliff vest after a four year period or vest in tranches of one-fourth of the number granted for each year of employment after the grant date. As of December 31, 2019 , 3,921,680 ordinary shares remained available for grant under the long-term incentive plan. The fair value of stock option awards was estimated at their grant date using the Black-Scholes-Merton option pricing model. This model was developed for use in estimating the fair value of traded options that have no vesting restrictions and are fully transferable, characteristics that are not present in our option grants. If the model permitted consideration of the unique characteristics of employee stock options, the resulting estimate of the fair value of the stock options could be different. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in our Consolidated Statements of Income. The expense is classified as cost of goods sold or selling, general and administrative expenses in a manner consistent with the employee’s compensation and benefits. The following weighted-average assumptions were used for options granted during the first nine months of fiscal 2020 and 2019: Fiscal 2020 Fiscal 2019 Risk-free interest rate 2.26 % 2.64 % Expected life of options 6.2 years 6.2 years Expected dividend yield of stock 1.22 % 1.47 % Expected volatility of stock 20.27 % 19.91 % The risk-free interest rate is based upon the U.S. Treasury yield curve. The expected life of options is reflective of historical experience, vesting schedules and contractual terms. The expected dividend yield of stock represents our best estimate of the expected future dividend yield. The expected volatility of stock is derived by referring to our historical stock prices over a time frame similar to that of the expected life of the grant. An estimated forfeiture rate of 2.77% and 2.37% was applied in fiscal 2020 and 2019 , respectively. This rate is calculated based upon historical activity and represents an estimate of the granted options not expected to vest. If actual forfeitures differ from this calculated rate, we may be required to make additional adjustments to compensation expense in future periods. The assumptions used above are reviewed at the time of each significant option grant, or at least annually. A summary of share option activity is as follows: Number of Options Weighted Average Exercise Price Per Share Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at March 31, 2019 2,104,685 $ 72.82 Granted 345,138 147.22 Exercised (415,072 ) 55.24 Forfeited (13,264 ) 102.06 Outstanding at December 31, 2019 2,021,487 $ 88.94 6.9 years $ 128,323 Exercisable at December 31, 2019 1,120,722 $ 68.12 5.7 years $ 94,476 We estimate that 879,534 of the non-vested stock options outstanding at December 31, 2019 will ultimately vest. The aggregate intrinsic value in the table above represents the total pre-tax difference between the $152.42 closing price of our ordinary shares on December 31, 2019 over the exercise prices of the stock options, multiplied by the number of options outstanding or outstanding and exercisable, as applicable. The aggregate intrinsic value is not recorded for financial accounting purposes and the value changes daily based on the daily changes in the fair market value of ordinary shares. The total intrinsic value of stock options exercised during the first nine months of fiscal 2020 and fiscal 2019 was $36,939 and $13,773 , respectively. Net cash proceeds from the exercise of stock options were $22,958 and $7,534 for the first nine months of fiscal 2020 and fiscal 2019 , respectively. The weighted average grant date fair value of stock option grants was $23.52 and $18.12 for the first nine months of fiscal 2020 and fiscal 2019 , respectively. Stock appreciation rights (“SARS”) carry generally the same terms and vesting requirements as stock options except that they are settled in cash upon exercise and therefore, are classified as liabilities. The fair value of the outstanding SARS as of December 31, 2019 and 2018 was $629 and $692 , respectively. A summary of the non-vested restricted share and share unit activity is presented below: Number of Restricted Shares Number of Restricted Share Units Weighted-Average Grant Date Fair Value Non-vested at March 31, 2019 676,373 33,219 $ 80.86 Granted 156,126 13,081 135.65 Vested (214,645 ) (14,999 ) 74.63 Forfeited (20,620 ) (1,879 ) 88.84 Non-vested at December 31, 2019 597,234 29,422 $ 97.68 Restricted shares granted are valued based on the closing stock price at the grant date. The value of restricted shares and units that vested during the first nine months of fiscal 2020 at the time of grant was $17,138 . As of December 31, 2019 , there was a total of $48,301 in unrecognized compensation cost related to non-vested share-based compensation granted under our share-based compensation plan. We expect to recognize the cost over a weighted average period of 2.2 years .

Financial and Other Guarantees(

Financial and Other Guarantees(Notes)	9 Months Ended
	Dec. 31, 2019
Product Warranties Disclosures [Abstract]
Product Warranty Disclosure	Financial and Other Guarantees We generally offer a limited parts and labor warranty on capital equipment. The specific terms and conditions of those warranties vary depending on the product sold and the countries where we conduct business. We record a liability for the estimated cost of product warranties at the time product revenues are recognized. The amounts we expect to incur on behalf of our Customers for the future estimated cost of these warranties are recorded as a current liability on the accompanying Consolidated Balance Sheets. Factors that affect the amount of our warranty liability include the number and type of installed units, historical and anticipated rates of product failures, and material and service costs per claim. We periodically assess the adequacy of our recorded warranty liabilities and adjust the amounts as necessary. Changes in our warranty liability during the first nine months of fiscal 2020 were as follows: Warranties Balance, March 31, 2019 $ 7,194 Warranties issued during the period 8,885 Settlements made during the period (8,951 ) Balance, December 31, 2019 $ 7,128

Deritvatives and Hedging (Notes

Deritvatives and Hedging (Notes)	9 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure	Derivatives and Hedging From time to time, we enter into forward contracts to hedge potential foreign currency gains and losses that arise from transactions denominated in foreign currencies, including inter-company transactions. We may also enter into commodity swap contracts to hedge price changes in nickel that impact raw materials included in our cost of revenues. During the third quarter of fiscal 2020, we also held forward foreign currency contracts to hedge a portion of our expected non-U.S. dollar denominated earnings against our reporting currency, the U.S. dollar. These foreign currency exchange contracts will mature during fiscal 2020. We did not elect hedge accounting for these forward foreign currency contracts; however, we may seek to apply hedge accounting in future scenarios. We do not use derivative financial instruments for speculative purposes. None of these contracts are designated as hedging instruments and do not receive hedge accounting treatment; therefore, changes in their fair value are not deferred but are recognized immediately in the Consolidated Statements of Income. At December 31, 2019 , we held foreign currency forward contracts to buy 33.3 million Mexican pesos and 3.6 million Canadian dollars; and to sell 3.6 million euros. At December 31, 2019 we held commodity swap contracts to buy 867.0 thousand pounds of nickel. Asset Derivatives Liability Derivatives Fair Value at Fair Value at Fair Value at Fair Value at Balance sheet location December 31, 2019 March 31, 2019 December 31, 2019 March 31, 2019 Prepaid & Other $ 423 $ 552 $ — $ — Accrued expenses and other $ — $ — $ 69 $ 278 The following table presents the impact of derivative instruments and their location within the Consolidated Statements of Income: Location of gain (loss) recognized in income Amount of gain (loss) recognized in income Three Months Ended December 31, Nine Months Ended December 31, 2019 2018 2019 2018 Foreign currency forward contracts Selling, general and administrative $ 79 $ (488 ) $ 784 $ (100 ) Commodity swap contracts Cost of revenues $ (398 ) $ (252 ) $ 271 $ (283 ) Additionally, we hold our debt in multiple currencies to fund our operations and investments in certain subsidiaries. We designate portions of foreign currency denominated intercompany loans as hedges of portions of net investments in foreign operations. Net debt designated as non-derivative net investment hedging instruments totaled $46,185 at December 31, 2019 . These hedges are designed to be fully effective and any associated gain or loss is recognized in Accumulated Other Comprehensive Income and will be reclassified to income in the same period when a gain or loss related to the net investment in the foreign operation is included in income.

Fair Value Measurements (Notes)

Fair Value Measurements (Notes)	9 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block]	Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or that would be paid to transfer a liability in an orderly transaction between market participants at the measurement date. We estimate the fair value of financial assets and liabilities using available market information and generally accepted valuation methodologies. The inputs used to measure fair value are classified into three tiers. These tiers include Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring the entity to develop its own assumptions. The following table shows the fair value of our financial assets and liabilities at December 31, 2019 and March 31, 2019 : Fair Value Measurements Carrying Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Level 1 Level 2 Level 3 December 31, March 31, December 31, March 31, December 31, March 31, December 31, March 31, Assets: Cash and cash equivalents $ 199,230 $ 220,633 $ 199,230 $ 220,633 $ — $ — $ — $ — Forward and swap contracts (1) 423 552 — — 423 552 — — Equity investments (2) 12,034 13,873 12,034 13,873 — — — — — — Other investments 2,539 2,545 2,539 2,545 — — — — Liabilities: Forward and swap contracts (1) $ 69 $ 278 $ — $ — $ 69 $ 278 $ — $ — Deferred compensation plans (2) 1,728 1,564 1,728 1,564 — — — — Long term debt (3) 1,136,964 1,183,227 — — 1,160,460 1,200,558 — — Contingent consideration obligations (4) 15,272 5,950 — — — — 15,272 5,950 (1) The fair values of forward and swap contracts are based on period-end forward rates and reflect the value of the amount that we would pay or receive for the contracts involving the same notional amounts and maturity dates. (2) We maintain a frozen domestic non-qualified deferred compensation plan covering certain employees, which allows for the deferral of payment of previously earned compensation for an employee-specified term or until retirement or termination. Amounts deferred can be allocated to various hypothetical investment options (compensation deferrals have been frozen under the plan). We hold investments to satisfy the future obligations of the plan. Employees who made deferrals are entitled to receive distributions of their hypothetical account balances (amounts deferred, together with earnings (losses)). We also hold an investment in the common stock of Servizi Italia, S.p.A, a leading provider of integrated linen washing and outsourced sterile processing services to hospital Customers. Changes in the fair value of these investments are recorded in the "Interest income and miscellaneous expense line" of the Consolidated Statement of Income. During the third quarter and first nine months of fiscal 2020, we recorded a gain of $636 and a loss of $(1,843) respectively, related to these investments. During the third quarter and first nine months of fiscal 2019, we recorded losses of $(2,154) and $ (4,663) respectively, related to these investments. (3) We estimate the fair value of our long-term debt using discounted cash flow analyses, based on our current incremental borrowing rates for similar types of borrowing arrangements. (4) Contingent consideration obligations arise from business acquisitions. The fair values are based on discounted cash flow analyses reflecting the possible achievement of specified performance measures or events and captures the contractual nature of the contingencies, commercial risk, and the time value of money. Contingent consideration obligations are classified in the consolidated balance sheets as accrued expense (short-term) and other liabilities (long-term), as appropriate based on the contractual payment dates. The changes in Level 3 assets and liabilities measured at fair value on a recurring basis at December 31, 2019 are summarized as follows: Contingent Consideration Balance at March 31, 2019 $ 5,950 Additions 9,220 Currency translation adjustments 102 Balance at December 31, 2019 $ 15,272

Reclassifications out of Accumu

Reclassifications out of Accumulated Other Comprehensive Income Reclassification out of Accumulated Other Comprehensive Income (Notes)	9 Months Ended
	Dec. 31, 2019
Reclassifications out of AOCI [Abstract]
Comprehensive Income (Loss) Note [Text Block]	Reclassifications Out of Accumulated Other Comprehensive Income (Loss) Amounts in Accumulated Other Comprehensive Income (Loss) are presented net of the related tax. Currency Translation is not adjusted for income taxes. Changes in our Accumulated Other Comprehensive Income (Loss) balances, net of tax, for the three months ended December 31, 2019 and 2018 were as follows: Defined Benefit Plans (1) Currency Translation (2) Total Accumulated Other Comprehensive Income (Loss) Three Months Nine Months Three Months Nine Months Three Months Nine Months Beginning Balance $ (5,215 ) $ (4,204 ) $ (220,502 ) $ (155,574 ) $ (225,717 ) $ (159,778 ) Other comprehensive income before reclassifications 195 576 77,299 12,371 77,494 12,947 Amounts reclassified from accumulated other comprehensive (loss) (699 ) (2,091 ) — — (699 ) (2,091 ) Net current-period other comprehensive (loss) income (504 ) (1,515 ) 77,299 12,371 76,795 10,856 Balance at December 31, 2019 $ (5,719 ) $ (5,719 ) $ (143,203 ) $ (143,203 ) $ (148,922 ) $ (148,922 ) (1) The amortization (gain) of defined benefit pension items is reported in the Interest income and miscellaneous expense line of our Consolidated Statements of Income. (2) The effective portion of gain or loss on net debt designated as non-derivative net investment hedging instruments is recognized in Accumulated Other Comprehensive Income and is reclassified to income in the same period when a gain or loss related to the net investment is included in income. Gain (Loss) on Available for Sale Securities Defined Benefit Plans (2) Currency Translation (3) Total Accumulated Other Comprehensive Income (Loss) Three Months Nine Months Three Months Nine Months Three Months Nine Months Three Months Nine Months Beginning Balance $ — $ 1,970 $ (7,565 ) $ (6,742 ) $ (119,215 ) $ 16,457 $ (126,780 ) $ 11,685 Other comprehensive income (loss) before reclassifications — — 148 452 (39,830 ) (175,502 ) (39,682 ) (175,050 ) Amounts reclassified from accumulated other comprehensive (loss) — — (563 ) (1,690 ) — — (563 ) (1,690 ) Net current-period other comprehensive (loss) — — (415 ) (1,238 ) (39,830 ) (175,502 ) (40,245 ) (176,740 ) Cumulative adjustment to retained earnings (1) — (1,970 ) — — — — — (1,970 ) Balance at December 31, 2018 $ — $ — $ (7,980 ) $ (7,980 ) $ (159,045 ) $ (159,045 ) $ (167,025 ) $ (167,025 ) (1) As a result of the adoption of ASC 2016-01, we recorded a cumulative effect adjustment to our opening fiscal 2019 retained earnings balance that increased retained earnings and decreased accumulated other comprehensive income. Refer to our Annual Report filed on Form 10-K for the year ended March 31, 2019, for more information. (2) Amortization (gain) of defined benefit pension items is reported in the Interest income and miscellaneous expense line of our Consolidated Statements of Income. (3) The effective portion of gain or loss on net debt designated as non-derivative net investment hedging instruments is recognized in Accumulated Other Comprehensive Income and is reclassified to income in the same period when a gain or loss related to the net investment is included in income.

Loans Receivable (Notes)

Loans Receivable (Notes)	9 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	18. Loans Receivable In connection with an equity investment of $4,955 , we agreed to provide a credit facility of up to approximately $10,000 for a term of up to seven years ending in 2025. The loan carries an interest rate of 4% compounded daily and payable annually. Outstanding borrowings under the agreement totaled $7,652 at December 31, 2019 and $7,465 at March 31, 2019. In connection with the fiscal 2017 divestiture of Synergy Health Netherlands Linen Management Services, we entered into a loan agreement to provide financing of up to €15,000 for a term of up to 15 years . The loan carried an interest rate of 4% for the first four years and 12% thereafter. The loan was renegotiated during the third quarter of fiscal 2020. According to the new terms of the loan agreement, the outstanding balance at October 31, 2019, of €7,300 , will be repaid in six equal annual installments beginning on October 18, 2022. The loan carries an interest rate of 4% for the first four years and 8% thereafter. Outstanding borrowings under the agreement totaled $8,175 (or €7,300 ) at December 31, 2019 and $8,494 (or €7,550 ) at March 31, 2019.

Restructuring (Notes)

Restructuring (Notes)	9 Months Ended
	Dec. 31, 2019
Restructuring [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	Restructuring Fiscal 2019 Restructuring Plan. During the third quarter of fiscal 2019, we adopted and announced a targeted restructuring plan (the "Fiscal 2019 Restructuring Plan"), which included the closure of two manufacturing facilities, one in Brazil and one in England, as well as other actions including the rationalization of certain products. Fewer than 200 positions were eliminated. The Company has relocated the production of certain impacted products to other existing manufacturing operations during fiscal 2020. These restructuring actions were designed to enhance profitability and improve efficiency. Since inception of the Fiscal 2019 Restructuring Plan we have incurred pre-tax expenses totaling $44,036 related to these restructuring actions, of which $31,654 was recorded as restructuring expenses and $12,382 was recorded in cost of revenues, with a total of $31,278 , $2,518 , $668 and $7,798 related to the Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies segments, respectively. Corporate related restructuring charges were $1,774 . Additional restructuring expenses related to this plan are not expected to be material to our results of operations. The following table summarizes our total pre-tax restructuring expenses for fiscal 2020 and 2019: Three Months Ended December 31, Nine Months Ended December 31, 2019 2018 2019 2018 Fiscal 2019 Restructuring Plan Severance and other compensation related costs $ (696 ) $ 2,743 $ 1,407 $ 2,743 Loss (gain) on disposal of asset — 15,251 (1,164 ) 15,251 Asset impairment — 4,312 — 4,312 Lease termination costs and other 248 3,841 424 3,841 Product rationalization (1) 833 9,096 2,661 9,096 Total restructuring expenses $ 385 $ 35,243 $ 3,328 $ 35,243 (1) Recorded in cost of revenues on the Consolidated Statements of Income. Liabilities related to restructuring activities are recorded as current liabilities on the accompanying Consolidated Balance Sheets within “Accrued payroll and other related liabilities” and “Accrued expenses and other.” The following table summarizes our restructuring liability balances: Fiscal 2019 Restructuring Plan March 31, Provisions Payments (1) December 31, Severance and termination benefits $ 4,102 $ 1,407 $ (4,279 ) $ 1,230 Lease termination obligations and other 2,029 424 (2,020 ) 433 Total $ 6,131 — $ 1,831 — $ (6,299 ) — $ 1,663 (1) Certain amounts reported include the impact of foreign currency movements relative to the U.S. dollar.

Nature of Operations and Summ_2

Nature of Operations and Summary of Significant Accounting Policies Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation We use the consolidation method to report our investment in our subsidiaries. Therefore, the accompanying consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned subsidiaries. We eliminate inter-company accounts and transactions when we consolidate these accounts. Investments in equity of unconsolidated affiliates, over which the Company has significant influence, but not control, over the financial and operating polices, are accounted for primarily using the equity method. These investments are immaterial to the Company's Consolidated Financial Statements.
Use of Estimates	Use of Estimates We make certain estimates and assumptions when preparing financial statements according to U.S. GAAP that affect the reported amounts of assets and liabilities at the financial statement dates and the reported amounts of revenues and expenses during the periods presented. These estimates and assumptions involve judgments with respect to many factors that are difficult to predict and are beyond our control. Actual results could be materially different from these estimates. We revise the estimates and assumptions as new information becomes available. This means that operating results for the three and nine month periods ended December 31, 2019 are not necessarily indicative of results that may be expected for future quarters or for the full fiscal year ending March 31, 2020.
Recently Issued Accounting Standards Impacting the Company	Recently Issued Accounting Standards Impacting the Company are presented in the following table: Standard Date of Issuance Description Date of Adoption Effect on the financial statements or other significant matters Standards that have recently been adopted ASU 2016-02, "Leases" (Topic 842) February 2016 The standard requires lessees to record all leases, whether finance or operating, on the balance sheet. An asset will be recorded to represent the right to use the leased asset, and a liability will be recorded to represent the lease obligation. The standard is effective for annual periods beginning after December 15, 2018 and interim periods within that period. Early adoption is permitted. First Quarter Fiscal 2020 We adopted this standard, and related amendments, effective April 1, 2019 using the modified retrospective transition method and have not restated prior periods. We elected to use the package of practical expedients permitted under the transition guidance, which allows the carry forward of historical lease classification of existing leases. We also elected the practical expedient related to land easements, allowing us to carry forward our accounting treatment for land easements on existing or expired agreements. We made an accounting policy election to not recognize lease assets or liabilities for leases with a term of 12 months or less and elected to not separate non-lease components from lease components to which they relate for all asset classes. We recorded lease right-of-use assets and lease liabilities for operating leases totaling $120,562. The adoption of the standard did not have a material impact to the Consolidated Statements of Income or Cash Flows. Additional information is disclosed in Note 8 under the heading "Leases". ASU 2017-12 "Targeted Improvements to Accounting for Hedging Activities" (Topic 815) August 2017 The standard provides targeted improvements to accounting for hedging activities by expanding an entity’s ability to hedge non-financial and financial risk components and reduce complexity in fair value hedges of interest rate risk. The guidance eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. The guidance also eases certain documentation and assessment requirements and modifies the accounting for components excluded from the assessment of hedge effectiveness. The standard is effective for fiscal years, and interim periods within those years, beginning after December 15, 2018. Early adoption is permitted in any interim period after issuance of the standard. First Quarter Fiscal 2020 We adopted this standard effective April 1, 2019 with no material impact to our Consolidated Balance Sheets. The impact to our Consolidated Statements of Income will depend on the value of future hedging activities. ASU 2018-02 "Income Statement - Reporting Comprehensive Income" (Topic 220) February 2018 The standard allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act ("TCJA") and requires certain disclosures about stranded tax effects. The underlying guidance requiring that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. This standard is effective for fiscal years beginning after December 15, 2018 and interim periods within those years. Early adoption is permitted. First Quarter Fiscal 2020 We have elected not to reclassify the income tax effects of the TCJA from Accumulated Other Comprehensive Income ("AOCI") to retained earnings. Our policy is to release income tax effects from AOCI when individual units of account are sold or terminated. Standards that have not yet been adopted ASU 2016-13, "Measurement of Credit Losses on Financial Instruments" June 2016 The standard requires a financial asset (or group of financial assets) measured at amortized cost to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. Credit losses relating to available-for-sale debt securities should be recorded through an allowance for credit losses. The standard is effective for annual periods beginning after December 15, 2019. Early adoption is permitted. N/A We are in the process of evaluating the impact that the standard will have on our consolidated financial statements. ASU 2018-13 "Fair Value Measurement (Topic 820) Disclosure Framework- Changes to Disclosure Requirements for Fair Value Measurement” August 2018 The standard modifies the disclosure requirements by adding, removing, and modifying certain required disclosures for fair value measurements for assets and liabilities disclosed within the fair value hierarchy. The standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019 and early adoption is permitted. N/A We do not expect this standard to have a material impact on our consolidated financial statements as it modifies disclosure requirements only. ASU 2018-14 "Compensation- Retirement Benefits - Defined Benefit Plans- General Topic (715-20): Disclosure Framework- Changes to the Disclosure Requirements for Defined Benefit Plans" August 2018 The standard modifies the disclosure requirements by adding, removing, and modifying certain required disclosures for employers that sponsor defined benefit pension or other post-retirement benefit plans. The standard also clarifies disclosure requirements for defined benefit pension plans relating to the projected benefit obligation and accumulated benefit obligation. The standard is effective for fiscal years ending after December 15, 2019 and early adoption is permitted. N/A We do not expect this standard to have a material impact on our consolidated financial statements as it modifies disclosure requirements only. ASU 2018-15 "Intangibles- Goodwill and Other- Internal Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract" August 2018 The standard aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The standard is effective for fiscal years beginning after December 15, 2019 and early adoption is permitted. N/A We do not expect this standard to have a material impact on our consolidated financial statements. ASU 2018-12 “Income Taxes (Topic 740) December 2019 The standard provides final guidance that simplifies the accounting for income taxes by eliminating certain exceptions to the guidance in ASC 740 related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The guidance simplifies accounting for franchise taxes and enacted changes in tax laws or rates and clarifies the accounting for transactions that result in a step-up in the tax basis of goodwill. The standard is effective for fiscal years ending after December 15, 2020 and early adoption is permitted. N/A We are in the process of evaluating the impact that the standard will have on our consolidated financial statements.
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition and Associated Liabilities We adopted Accounting Standards Update ("ASU") 2014-09 “Revenue from Contracts with Customers” and the subsequently issued amendments on April 1, 2018 using the modified retrospective approach to contracts that were not completed as of April 1, 2018. Under this standard, certain capital equipment contracts are comprised of a single performance obligation, resulting in the deferral of the corresponding capital equipment revenue and cost of revenues until installation is complete. Previously, these capital equipment revenues and cost of revenues were recognized based upon shipping terms. We recorded a cumulative effect adjustment in the beginning of fiscal 2019 to Retained earnings of $5,637 , based on the current terms and conditions for certain open capital equipment contracts as of March 31, 2018. Revenue is recognized when obligations under the terms of the contract are satisfied and control of the promised products or services have transferred to the Customer. Revenues are measured at the amount of consideration that we expect to be paid in exchange for the products or services. Product revenue is recognized when control passes to the Customer, which is generally based on contract or shipping terms. Service revenue is recognized when the Customer benefits from the service, which occurs either upon completion of the service or as it is provided to the Customer. Our Customers include end users as well as dealers and distributors who market and sell our products. Our revenue is not contingent upon resale by the dealer or distributor, and we have no further obligations related to bringing about resale. Our standard return and restocking fee policies are applied to sales of products. Shipping and handling costs charged to Customers are included in Product revenues. The associated expenses are treated as fulfillment costs and are included in Cost of revenues. Revenues are reported net of sales and value-added taxes collected from Customers. We have individual Customer contracts that offer discounted pricing. Dealers and distributors may be offered sales incentives in the form of rebates. We reduce revenue for discounts and estimated returns, rebates, and other similar allowances in the same period the related revenues are recorded. The reduction in revenue for these items is estimated based on historical experience and trend analysis to the extent that it is probable that a significant reversal of revenue will not occur. Estimated returns are recorded gross on the Consolidated Balance Sheets. In transactions that contain multiple performance obligations, such as when products, maintenance services, and other services are combined, we recognize revenue as each product is delivered or service is provided to the Customer. We allocate the total arrangement consideration to each performance obligation based on its relative standalone selling price, which is the price for the product or service when it is sold separately. Payment terms vary by the type and location of the Customer and the products or services offered. Generally, the time between when revenue is recognized and when payment is due is not significant. We do not evaluate whether the selling price contains a financing component for contracts that have a duration of less than one year. We do not capitalize sales commissions as substantially all of our sales commission programs have an amortization period of one year or less. Certain costs to fulfill a contract are capitalized and amortized over the term of the contract if they are recoverable, directly related to a contract and generate resources that we will use to fulfill the contract in the future. At December 31, 2019 , assets related to costs to fulfill a contract were not material to our Consolidated Financial Statements. Refer to Note 9, titled "Business Segment Information" for disaggregation of revenue. Product Revenue Product revenues consist of revenues generated from sales of consumables and capital equipment. These contracts are primarily based on a Customer’s purchase order and may include a Distributor, Dealer or Group Purchasing Organization (GPO) agreement. We recognize revenue for sales of product when control passes to the Customer, which generally occurs either when the products are shipped or when they are received by the Customer. Revenue related to certain capital equipment products is deferred until installation is complete as the capital equipment and installation are highly integrated and form a single performance obligation. Service Revenue Within our Healthcare Products and Life Sciences segments, service revenues consist of revenue generated from parts and labor associated with the maintenance, repair and installation of capital equipment. These contracts are primarily based on a Customer’s purchase order and may include a Distributor, Dealer, or GPO agreement. For maintenance, repair and installation of capital equipment, revenue is recognized upon completion of the service. We also offer preventive maintenance and separately priced extended warranty agreements to our Customers, which require us to maintain and repair our products over the duration of the contract. Generally, these contract terms are cancelable without penalty and range from one to five years. Amounts received under these Customer contracts are initially recorded as a service liability and are recognized as service revenue ratably over the contract term using a time-based input measure. Within our Healthcare Specialty Services segment, revenues relate primarily to outsourced reprocessing services and instrument repairs. Contracts for outsourced reprocessing services are primarily based on an agreement with a Customer, ranging in length from several months to 15 years. Outsourced reprocessing services revenue is recognized ratably over the contract term using a time-based input measure, adjusted for volume and other performance metrics, to the extent that it is probable that a significant reversal of revenue will not occur. Contracts for instrument repairs are primarily based on a Customer’s purchase order, and the associated revenue is recognized upon completion of the repair. Within our Applied Sterilization Technologies segment, service revenues include contract sterilization and laboratory services. Sales contracts for contract sterilization and laboratory services are primarily based on a Customer’s purchase order and associated Customer agreement and revenues are generally recognized upon completion of the service. Contract Liabilities Payments received from Customers are based on invoices or billing schedules as established in contracts with Customers. Deferred revenue is recorded when payment is received in advance of performance under the contract. Deferred revenue is recognized as revenue upon completion of the performance obligation, which generally occurs within one year. During the first nine months of fiscal 2020, $46,744 of the March 31, 2019 deferred revenue balance was recorded as revenue. During the first nine months of fiscal 2019, $25,590 of the March 31, 2018 deferred revenue balance was recorded as revenue. Refer to Note 6, titled "Additional Consolidated Balance Sheet Information" for Deferred revenue balances. Service Liabilities Payments received in advance of performance for cancelable preventative maintenance and separately priced extended warranty contracts are recorded as service liabilities. Service liabilities are recognized as revenue as performance is rendered under the contract. Refer to Note 6, titled "Additional Consolidated Balance Sheet Information" for Service liability balances. Remaining Performance Obligations Remaining performance obligations reflect only the performance obligations related to agreements for which we have a firm commitment from a Customer to purchase, and exclude variable consideration related to unsatisfied performance obligations. With regard to products, these remaining performance obligations include capital equipment and consumable orders which have not shipped. With regard to service, these remaining performance obligations primarily include installation, certification, and outsourced reprocessing services. As of December 31, 2019, the transaction price allocated to remaining performance obligations was approximately $960,000 . We expect to recognize approximately 48% of the transaction price within one year and approximately 44% beyond one year. The remainder has yet to be scheduled for delivery.

Contingencies Lease (Policies)

Contingencies Lease (Policies)	9 Months Ended
	Dec. 31, 2019
Statement of Financial Position [Abstract]
Lessee, Leases [Policy Text Block]	We lease manufacturing, warehouse and office space, service facilities, vehicles, equipment and communication systems. Certain leases contain options that provide us with the ability to extend the lease term. Such options are included in the lease term when it is reasonably certain that the option will be exercised. We made an accounting policy election to not recognize lease assets or lease liabilities for leases with a lease term of twelve months or less. We determine if an agreement contains a lease and classify our leases as operating or finance at the lease commencement date. Finance leases are generally those leases for which we will pay substantially all the underlying asset’s fair value or will use the asset for all or a major part of its economic life, including circumstances in which we will ultimately own the asset. Lease assets arising from finance leases are included in property, plant and equipment, net and the liabilities are included in other liabilities. For finance leases, we recognize interest expense using the effective interest method and we recognize amortization expense on the lease asset over the shorter of the lease term or the useful life of the asset. Our finance leases are not material as of December 31, 2019 and for the nine month period then ended. Operating lease assets and liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term. Lease assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. As most leases do not provide an implicit interest rate, we estimate an incremental borrowing rate to determine the present value of lease payments. Our estimated incremental borrowing rate reflects a secured rate based on recent debt issuances, our estimated credit rating, lease term, as well as publicly available data for instruments with similar characteristics. For operating leases, we recognize lease cost on a straight-line basis over the term of the lease. When accounting for leases, we combine payments for leased assets, related services and other components of a lease.

Inventories, Net Inventories, N

Inventories, Net Inventories, Net (Tables)	9 Months Ended
	Dec. 31, 2019
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory costs include material, labor, and overhead. Inventories, net consisted of the following: December 31, March 31, Raw materials $ 93,687 $ 83,009 Work in process 35,936 30,694 Finished goods 158,889 131,051 LIFO reserve (17,804 ) (16,757 ) Reserve for excess and obsolete inventory (18,662 ) (19,754 ) Inventories, net $ 252,046 $ 208,243

Property, Plant and Equipment P

Property, Plant and Equipment Property, Plant and Equipment (Tables)	9 Months Ended
	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Information related to the major categories of our depreciable assets is as follows: December 31, March 31, Land and land improvements (1) $ 66,874 $ 63,522 Buildings and leasehold improvements 510,027 480,359 Machinery and equipment 683,657 656,956 Information systems 174,945 169,711 Radioisotope 509,609 483,080 Construction in progress (1) 180,172 133,689 Total property, plant, and equipment 2,125,284 1,987,317 Less: accumulated depreciation and depletion (1,022,680 ) (955,735 ) Property, plant, and equipment, net $ 1,102,604 $ 1,031,582 (1) Land is not depreciated. Construction in progress is not depreciated until placed in service.

Debt Debt (Tables)

Debt Debt (Tables)	9 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Schedule of Debt	Indebtedness was as follows: December 31, March 31, Credit Agreement $ 255,217 $ 301,846 Private Placement 885,237 884,967 Deferred financing costs (3,490 ) (3,619 ) Other — 33 Total long term debt $ 1,136,964 $ 1,183,227

Additional Consolidated Balan_2

Additional Consolidated Balance Sheets Information Additional Consolidated Balance Sheets Information (Tables)	9 Months Ended
	Dec. 31, 2019
Notes To Financial Statements [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	Additional information related to our Consolidated Balance Sheets is as follows: December 31, March 31, Accrued payroll and other related liabilities: Compensation and related items $ 29,744 $ 37,251 Accrued vacation/paid time off 11,113 10,191 Accrued bonuses 40,902 40,194 Accrued employee commissions 15,808 17,854 Other postretirement benefit obligations-current portion 1,633 1,633 Other employee benefit plans obligations-current portion 2,046 1,935 Total accrued payroll and other related liabilities $ 101,246 $ 109,058 Accrued expenses and other: Deferred revenues $ 45,355 $ 55,333 Service liabilities 44,701 42,101 Self-insured risk reserves-current portion 7,475 6,537 Accrued dealer commissions 16,621 15,283 Accrued warranty 7,128 7,194 Asset retirement obligation-current portion 2,669 2,656 Other 53,698 58,661 Total accrued expenses and other $ 177,647 $ 187,765 Other liabilities: Self-insured risk reserves-long-term portion $ 14,445 $ 14,445 Other postretirement benefit obligations-long-term portion 8,740 10,918 Defined benefit pension plans obligations-long-term portion 15,001 16,168 Other employee benefit plans obligations-long-term portion 2,645 4,711 Accrued long-term income taxes 13,586 13,515 Asset retirement obligation-long-term portion 10,077 9,730 Other 26,854 18,325 Total other liabilities $ 91,348 $ 87,812

Contingencies Leases (Tables)

Contingencies Leases (Tables)	9 Months Ended
	Dec. 31, 2019
Statement of Financial Position [Abstract]
Schedule of Rent Expense [Table Text Block]	The components of operating lease expense are as follows: Three months ended December 31, 2019 Nine months ended December 31, 2019 Fixed operating lease expense $ 7,079 $ 20,894 Variable operating lease expense 1,981 4,240 Total operating lease expense $ 9,060 $ 25,134
Lessee, Operating Lease, Disclosure [Table Text Block]	Supplemental cash flow information related to operating leases is as follows: Nine months ended December 31, 2019 Cash paid for amounts included in the measurement of operating lease liabilities $ 20,656 Right-of-use assets obtained in exchange for operating lease obligations, net $ 27,089
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Maturities of lease liabilities at December 31, 2019 are as follows : December 31, Remainder of 2020: $ 6,732 2021 22,915 2022 18,564 2023 15,185 2024 12,647 2025 and thereafter 85,388 Total operating lease payments 161,431 Less imputed interest 38,178 Total operating lease liabilities $ 123,253 Supplemental information related to operating leases is as follows: December 31, 2019 Weighted-average remaining lease term of operating leases 11.6 years Weighted-average discount rate of operating leases 4.6 % Prior to the adoption of ASU 2016-02, " Leases" (Topic 842) future minimum annual rentals payable under noncancelable operating lease agreements in excess of one year as of March 31, 2019 were as follows: March 31, 2019 2020 $ 24,008 2021 18,567 2022 13,917 2023 11,929 2024 and thereafter 93,939 Total minimum lease payments $ 162,360 In the preceding table, the future minimum annual rentals payable under noncancelable leases denominated in foreign currencies have been calculated using March 31, 2019 foreign currency exchange rates.

Business Segment Information Bu

Business Segment Information Business Segment Information (Tables)	9 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Financial information for each of our segments is presented in the following table: Three Months Ended December 31, Nine Months Ended December 31, 2019 2018 2019 2018 Revenues: Healthcare Products $ 365,353 $ 338,264 $ 1,025,421 $ 951,779 Healthcare Specialty Services 143,869 127,761 414,816 374,564 Life Sciences 108,773 93,451 304,208 275,571 Applied Sterilization Technologies 156,266 136,762 463,459 412,043 Total revenues $ 774,261 $ 696,238 $ 2,207,904 $ 2,013,957 Operating income (loss): Healthcare Products $ 89,849 $ 82,820 $ 250,510 $ 217,011 Healthcare Specialty Services 15,378 16,007 48,267 44,422 Life Sciences 37,731 33,129 103,085 96,260 Applied Sterilization Technologies 65,468 54,798 198,889 164,417 Corporate (45,260 ) (42,025 ) (151,613 ) (135,053 ) Total operating income before adjustments $ 163,166 $ 144,729 $ 449,138 $ 387,057 Less: Adjustments Amortization of acquired intangible assets (1) $ 17,508 $ 33,894 $ 53,407 $ 68,907 Acquisition and integration related charges (2) 1,721 1,816 5,585 6,197 Redomiciliation and tax restructuring costs (3) 487 4,747 3,274 5,633 (Gain) on fair value adjustment of acquisition related contingent consideration (1) — — — (842 ) Net loss (gain) on divestiture of businesses (1) 76 (1,170 ) 2,553 (508 ) Amortization of property "step up" to fair value (1) 602 615 1,783 1,840 Restructuring charges (4) 385 35,243 3,328 35,243 Total operating income $ 142,387 $ 69,584 $ 379,208 $ 270,587
Revenue from External Customers by Products and Services [Table Text Block]	Three Months Ended December 31, Nine Months Ended December 31, 2019 2018 2019 2018 Healthcare Products: Capital equipment $ 148,016 $ 143,180 $ 410,249 $ 384,086 Consumables 121,517 107,451 338,691 309,545 Service 95,820 87,633 276,481 258,148 Total Healthcare Products Revenues $ 365,353 $ 338,264 $ 1,025,421 $ 951,779 Total Healthcare Specialty Services Revenues $ 143,869 $ 127,761 $ 414,816 $ 374,564 Life Sciences: Capital equipment $ 31,762 $ 23,363 $ 84,993 $ 72,289 Consumables 46,370 41,157 132,939 119,844 Service 30,641 28,931 86,276 83,438 Total Life Sciences Revenues $ 108,773 $ 93,451 $ 304,208 $ 275,571 Applied Sterilization Technologies Service Revenues $ 156,266 $ 136,762 $ 463,459 $ 412,043 Total Revenues $ 774,261 $ 696,238 $ 2,207,904 $ 2,013,957
Revenue from External Customers by Geographic Areas [Table Text Block]	Three Months Ended December 31, Nine Months Ended December 31, 2019 2018 2019 2018 Revenues: Ireland $ 16,126 $ 14,215 $ 46,405 $ 40,873 United States 562,502 494,328 1,611,755 1,423,101 Other locations 195,633 187,695 549,744 549,983 Total Revenues $ 774,261 $ 696,238 $ 2,207,904 $ 2,013,957

Shares and Preferred Shares Sha

Shares and Preferred Shares Shares and Preferred Shares (Tables)	9 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares [Table Text Block]	The following is a summary of shares and share equivalents outstanding used in the calculations of basic and diluted earnings per share: Three Months Ended December 31, Nine Months Ended December 31, Denominator (shares in thousands): 2019 2018 2019 2018 Weighted average shares outstanding—basic 84,788 84,540 84,740 84,587 Dilutive effect of share equivalents 840 901 890 889 Weighted average shares outstanding and share equivalents—diluted 85,628 85,441 85,630 85,476
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Options to purchase the following number of shares were outstanding but excluded from the computation of diluted earnings per share because the combined exercise prices, unamortized fair values, and assumed tax benefits upon exercise were greater than the average market price for the shares during the periods, so including these options would be anti-dilutive: Three Months Ended December 31, Nine Months Ended December 31, (shares in thousands) 2019 2018 2019 2018 Number of share options 347 435 270 331

Share-Based Compensation Share-

Share-Based Compensation Share-Based Compensation (Tables)	9 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Schedule of Assumptions Used	The following weighted-average assumptions were used for options granted during the first nine months of fiscal 2020 and 2019: Fiscal 2020 Fiscal 2019 Risk-free interest rate 2.26 % 2.64 % Expected life of options 6.2 years 6.2 years Expected dividend yield of stock 1.22 % 1.47 % Expected volatility of stock 20.27 % 19.91 %
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding	A summary of share option activity is as follows: Number of Options Weighted Average Exercise Price Per Share Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at March 31, 2019 2,104,685 $ 72.82 Granted 345,138 147.22 Exercised (415,072 ) 55.24 Forfeited (13,264 ) 102.06 Outstanding at December 31, 2019 2,021,487 $ 88.94 6.9 years $ 128,323 Exercisable at December 31, 2019 1,120,722 $ 68.12 5.7 years $ 94,476
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	ly. A summary of the non-vested restricted share and share unit activity is presented below: Number of Restricted Shares Number of Restricted Share Units Weighted-Average Grant Date Fair Value Non-vested at March 31, 2019 676,373 33,219 $ 80.86 Granted 156,126 13,081 135.65 Vested (214,645 ) (14,999 ) 74.63 Forfeited (20,620 ) (1,879 ) 88.84 Non-vested at December 31, 2019 597,234 29,422 $ 97.68

Financial and Other Guarantees

Financial and Other Guarantees Financial and Other Gurantees (Tables)	9 Months Ended
	Dec. 31, 2019
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	Changes in our warranty liability during the first nine months of fiscal 2020 were as follows: Warranties Balance, March 31, 2019 $ 7,194 Warranties issued during the period 8,885 Settlements made during the period (8,951 ) Balance, December 31, 2019 $ 7,128

Derivatives and Hedging Derivat

Derivatives and Hedging Derivatives and Hedging (Tables)	9 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	Asset Derivatives Liability Derivatives Fair Value at Fair Value at Fair Value at Fair Value at Balance sheet location December 31, 2019 March 31, 2019 December 31, 2019 March 31, 2019 Prepaid & Other $ 423 $ 552 $ — $ — Accrued expenses and other $ — $ — $ 69 $ 278
Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance	The following table presents the impact of derivative instruments and their location within the Consolidated Statements of Income: Location of gain (loss) recognized in income Amount of gain (loss) recognized in income Three Months Ended December 31, Nine Months Ended December 31, 2019 2018 2019 2018 Foreign currency forward contracts Selling, general and administrative $ 79 $ (488 ) $ 784 $ (100 ) Commodity swap contracts Cost of revenues $ (398 ) $ (252 ) $ 271 $ (283 )

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements (Tables)	9 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	The following table shows the fair value of our financial assets and liabilities at December 31, 2019 and March 31, 2019 : Fair Value Measurements Carrying Value Quoted Prices in Active Markets for Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs Level 1 Level 2 Level 3 December 31, March 31, December 31, March 31, December 31, March 31, December 31, March 31, Assets: Cash and cash equivalents $ 199,230 $ 220,633 $ 199,230 $ 220,633 $ — $ — $ — $ — Forward and swap contracts (1) 423 552 — — 423 552 — — Equity investments (2) 12,034 13,873 12,034 13,873 — — — — — — Other investments 2,539 2,545 2,539 2,545 — — — — Liabilities: Forward and swap contracts (1) $ 69 $ 278 $ — $ — $ 69 $ 278 $ — $ — Deferred compensation plans (2) 1,728 1,564 1,728 1,564 — — — — Long term debt (3) 1,136,964 1,183,227 — — 1,160,460 1,200,558 — — Contingent consideration obligations (4) 15,272 5,950 — — — — 15,272 5,950 (1) The fair values of forward and swap contracts are based on period-end forward rates and reflect the value of the amount that we would pay or receive for the contracts involving the same notional amounts and maturity dates. (2) We maintain a frozen domestic non-qualified deferred compensation plan covering certain employees, which allows for the deferral of payment of previously earned compensation for an employee-specified term or until retirement or termination. Amounts deferred can be allocated to various hypothetical investment options (compensation deferrals have been frozen under the plan). We hold investments to satisfy the future obligations of the plan. Employees who made deferrals are entitled to receive distributions of their hypothetical account balances (amounts deferred, together with earnings (losses)). We also hold an investment in the common stock of Servizi Italia, S.p.A, a leading provider of integrated linen washing and outsourced sterile processing services to hospital Customers. Changes in the fair value of these investments are recorded in the "Interest income and miscellaneous expense line" of the Consolidated Statement of Income. During the third quarter and first nine months of fiscal 2020, we recorded a gain of $636 and a loss of $(1,843) respectively, related to these investments. During the third quarter and first nine months of fiscal 2019, we recorded losses of $(2,154) and $ (4,663) respectively, related to these investments. (3) We estimate the fair value of our long-term debt using discounted cash flow analyses, based on our current incremental borrowing rates for similar types of borrowing arrangements. (4) Contingent consideration obligations arise from business acquisitions. The fair values are based on discounted cash flow analyses reflecting the possible achievement of specified performance measures or events and captures the contractual nature of the contingencies, commercial risk, and the time value of money. Contingent consideration obligations are classified in the consolidated balance sheets as accrued expense (short-term) and other liabilities (long-term), as appropriate based on the contractual payment dates.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	The changes in Level 3 assets and liabilities measured at fair value on a recurring basis at December 31, 2019 are summarized as follows: Contingent Consideration Balance at March 31, 2019 $ 5,950 Additions 9,220 Currency translation adjustments 102 Balance at December 31, 2019 $ 15,272

Reclassifications out of Accu_2

Reclassifications out of Accumulated Other Comprehensive Income Reclassification out of Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Dec. 31, 2019
Reclassifications out of AOCI [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	Changes in our Accumulated Other Comprehensive Income (Loss) balances, net of tax, for the three months ended December 31, 2019 and 2018 were as follows: Defined Benefit Plans (1) Currency Translation (2) Total Accumulated Other Comprehensive Income (Loss) Three Months Nine Months Three Months Nine Months Three Months Nine Months Beginning Balance $ (5,215 ) $ (4,204 ) $ (220,502 ) $ (155,574 ) $ (225,717 ) $ (159,778 ) Other comprehensive income before reclassifications 195 576 77,299 12,371 77,494 12,947 Amounts reclassified from accumulated other comprehensive (loss) (699 ) (2,091 ) — — (699 ) (2,091 ) Net current-period other comprehensive (loss) income (504 ) (1,515 ) 77,299 12,371 76,795 10,856 Balance at December 31, 2019 $ (5,719 ) $ (5,719 ) $ (143,203 ) $ (143,203 ) $ (148,922 ) $ (148,922 ) (1) The amortization (gain) of defined benefit pension items is reported in the Interest income and miscellaneous expense line of our Consolidated Statements of Income. (2) The effective portion of gain or loss on net debt designated as non-derivative net investment hedging instruments is recognized in Accumulated Other Comprehensive Income and is reclassified to income in the same period when a gain or loss related to the net investment is included in income. Gain (Loss) on Available for Sale Securities Defined Benefit Plans (2) Currency Translation (3) Total Accumulated Other Comprehensive Income (Loss) Three Months Nine Months Three Months Nine Months Three Months Nine Months Three Months Nine Months Beginning Balance $ — $ 1,970 $ (7,565 ) $ (6,742 ) $ (119,215 ) $ 16,457 $ (126,780 ) $ 11,685 Other comprehensive income (loss) before reclassifications — — 148 452 (39,830 ) (175,502 ) (39,682 ) (175,050 ) Amounts reclassified from accumulated other comprehensive (loss) — — (563 ) (1,690 ) — — (563 ) (1,690 ) Net current-period other comprehensive (loss) — — (415 ) (1,238 ) (39,830 ) (175,502 ) (40,245 ) (176,740 ) Cumulative adjustment to retained earnings (1) — (1,970 ) — — — — — (1,970 ) Balance at December 31, 2018 $ — $ — $ (7,980 ) $ (7,980 ) $ (159,045 ) $ (159,045 ) $ (167,025 ) $ (167,025 ) (1) As a result of the adoption of ASC 2016-01, we recorded a cumulative effect adjustment to our opening fiscal 2019 retained earnings balance that increased retained earnings and decreased accumulated other comprehensive income. Refer to our Annual Report filed on Form 10-K for the year ended March 31, 2019, for more information. (2) Amortization (gain) of defined benefit pension items is reported in the Interest income and miscellaneous expense line of our Consolidated Statements of Income. (3)

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Dec. 31, 2019
Restructuring [Abstract]
Restructuring and Related Costs [Table Text Block]	The following table summarizes our total pre-tax restructuring expenses for fiscal 2020 and 2019: Three Months Ended December 31, Nine Months Ended December 31, 2019 2018 2019 2018 Fiscal 2019 Restructuring Plan Severance and other compensation related costs $ (696 ) $ 2,743 $ 1,407 $ 2,743 Loss (gain) on disposal of asset — 15,251 (1,164 ) 15,251 Asset impairment — 4,312 — 4,312 Lease termination costs and other 248 3,841 424 3,841 Product rationalization (1) 833 9,096 2,661 9,096 Total restructuring expenses $ 385 $ 35,243 $ 3,328 $ 35,243
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	Fiscal 2019 Restructuring Plan March 31, Provisions Payments (1) December 31, Severance and termination benefits $ 4,102 $ 1,407 $ (4,279 ) $ 1,230 Lease termination obligations and other 2,029 424 (2,020 ) 433 Total $ 6,131 — $ 1,831 — $ (6,299 ) — $ 1,663 (1) Certain amounts reported include the impact of foreign currency movements relative to the U.S. dollar.

Nature of Operations and Summ_3

Nature of Operations and Summary of Significant Accounting Policies Revenue Intial Application period (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Deferred Revenue, Revenue Recognized	$ 46,744	$ 25,590

Nature of Operations and Summ_4

Nature of Operations and Summary of Significant Accounting Policies Revenue Table (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Apr. 01, 2018	Mar. 31, 2018
Assets		$ 5,335,581			$ 5,073,071
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification			$ 5,637
Deferred Revenue, Revenue Recognized		46,744	25,590
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		3,396,066	$ 3,112,307	$ 3,237,645	3,185,798	$ 3,124,977		$ 3,217,300
Liabilities		1,939,515			1,887,273
Accounts Receivable, after Allowance for Credit Loss, Current		544,405			564,830
Inventory, Net		252,046			208,243
Other Prepaid Expense, Current		57,190			60,029
Accrued Liabilities, Current		177,647			187,765
Retained Earnings (Accumulated Deficit)		1,544,495			$ 1,339,024
Revenue, Remaining Performance Obligation, Amount		$ 960,000
Assets [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 120,562
Equity [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption							$ 5,637
Liability [Member]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	$ 120,562
Expected recognition within the next year [Member]
Revenue, Remaining Performance Obligation, Percentage		48.00%
Expected recognition beyond the next year [Member] [Member]
Revenue, Remaining Performance Obligation, Percentage		44.00%

Business Acquisitions and Dives

Business Acquisitions and Divestitures Fiscal 2018 Acquisitions (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Business Combination, Contingent Consideration, Liability	$ 15,272	$ 5,950
Deferred consideration business acquisition	893
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Approximate purchase price of entity	117,259		$ 13,313
Business Combination, Contingent Consideration, Liability	$ 9,200

Business Acquisitions and Div_2

Business Acquisitions and Divestitures Fiscal 2017 Acquisitions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2019
Business Acquisition [Line Items]
Revenues	$ 774,261	$ 696,238	$ 2,207,904	$ 2,013,957
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Goodwill	$ 2,403,503		$ 2,403,503		$ 2,322,928

Business Acquisitions and Div_3

Business Acquisitions and Divestitures Fiscal 2017 Divestitures (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues		$ 774,261	$ 696,238	$ 2,207,904	$ 2,013,957
Proceeds from sale of business				(439)
Pre-tax gain or loss on sale of business	[1]	$ (76)	$ 1,170	2,553	$ (508)
China HCS [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain or loss on sale of business				$ (2,365)
HCS China Divestiture [Domain]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues						$ 5,000
[1]	For more information regarding our recent acquisitions and divestitures see Note 17 titled, "Business Acquisitions and Divestitures", as well as our Annual Report on Form 10-K for the year ended March 31, 2019 , dated May 30, 2019 .

Inventories, Net Inventories,_2

Inventories, Net Inventories, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Raw materials	$ 93,687	$ 83,009
Work in process	35,936	30,694
Finished goods	158,889	131,051
LIFO reserve	(17,804)	(16,757)
Reserve for excess and obsolete inventory	(18,662)	(19,754)
Inventories, net	$ 252,046	$ 208,243

Property, Plant and Equipment_2

Property, Plant and Equipment Property, Plant and Equipment (Details) - USD ($) $ in Thousands		Dec. 31, 2019	Mar. 31, 2019
Property, Plant and Equipment [Line Items]
Land and land improvements	[1]	$ 66,874	$ 63,522
Buildings and leasehold improvements		510,027	480,359
Machinery and equipment		683,657	656,956
Information systems		174,945	169,711
Radioisotope		509,609	483,080
Construction in progress	[1]	180,172	133,689
Total property, plant, and equipment		2,125,284	1,987,317
Less: accumulated depreciation and depletion		(1,022,680)	(955,735)
Property, plant, and equipment, net		$ 1,102,604	$ 1,031,582
[1]	Land is not depreciated. Construction in progress is not depreciated until placed in service.

Debt Debt (Details)

Debt Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Debt Instrument [Line Items]
Private Placement	$ 885,237	$ 884,967
Deferred financing costs	3,490	3,619
Other Long-term Debt	0	33
Credit Agreement	255,217	301,846
Total long term debt	$ 1,136,964	$ 1,183,227

Additional Consolidated Balan_3

Additional Consolidated Balance Sheets Information Additional Consolidated Balance Sheets Information (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Accrued payroll and other related liabilities:
Compensation and related items	$ 29,744	$ 37,251
Accrued vacation/paid time off	11,113	10,191
Accrued bonuses	40,902	40,194
Accrued employee commissions	15,808	17,854
Other postretirement benefit obligations-current portion	1,633	1,633
Other employee benefit plans obligations-current portion	2,046	1,935
Total accrued payroll and other related liabilities	101,246	109,058
Accrued expenses and other:
Deferred revenues	45,355	55,333
Service liabilities	44,701	42,101
Self-insured risk reserves-current portion	7,475	6,537
Accrued dealer commissions	16,621	15,283
Accrued warranty	7,128	7,194
Asset retirement obligation-current portion	2,669	2,656
Other	53,698	58,661
Total accrued expenses and other	177,647	187,765
Other liabilities:
Self-insured risk reserves-long-term portion	14,445	14,445
Other postretirement benefit obligations-long-term portion	8,740	10,918
Defined benefit pension plans obligations-long-term portion	15,001	16,168
Other employee benefit plans obligations-long-term portion	2,645	4,711
Accrued long-term income taxes	13,586	13,515
Asset retirement obligation-long-term portion	10,077	9,730
Other	26,854	18,325
Total other liabilities	$ 91,348	$ 87,812

Income Tax Expense Income Tax E

Income Tax Expense Income Tax Expense (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018	Dec. 31, 2019USD ($)	Dec. 31, 2018
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Effective Income Tax Rate, Continuing Operations	21.90%	16.20%	18.80%	16.90%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			0.210
Uncertain Tax Liability Resulting From IRS Notice	$ 40,000		$ 40,000

Contingencies Leases (Details)

Contingencies Leases (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2019	Mar. 31, 2019
Loss Contingencies [Line Items]
Lessee, Operating Lease, Liability, Payments, Remainder of Fiscal Year	$ 6,732	$ 6,732
Operating Leases, Future Minimum Payments Due, Next Twelve Months			$ 24,008
Operating Leases, Future Minimum Payments Receivable, in Two Years			18,567
Operating Leases, Future Minimum Payments Receivable, in Three Years			13,917
Operating Leases, Future Minimum Payments Receivable, in Four Years			11,929
Operating Leases, Future Minimum Payments, Due Thereafter			93,939
Operating Leases, Future Minimum Payments Due			162,360
Lessor, Operating Lease, Payments to be Received, Five Years	12,647	12,647
Fixed Operating Lease Expense	7,079	20,894
Capital Lease Obligations, Current	19,189	19,189	0
Capital Lease Obligations, Noncurrent	$ 104,064	$ 104,064	0
Operating Lease, Weighted Average Remaining Lease Term	11 years 7 months 6 days	11 years 7 months 6 days
Operating Leases, Future Minimum Payments, Due in Two Years	$ 22,915	$ 22,915
Lessor, Operating Lease, Payments to be Received, Four Years	18,564	18,564
Lessor, Operating Lease, Payments to be Received, Five Years	15,185	15,185
Finance Lease, Liability, Payments, Due after Year Five	85,388	85,388
Lessee, Operating Lease, Liability, Payments, Due	161,431	161,431
Lessee, Operating Lease, Liability, Undiscounted Excess Amount	38,178	38,178
Operating Lease, Liability	$ 123,253	$ 123,253
Operating Lease, Weighted Average Discount Rate, Percent	4.60%	4.60%
Operating Lease, Payments		$ 20,656
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability		27,089
Operating Lease, Right-of-Use Asset	$ 123,080	123,080	$ 0
Variable Operating Lease Expense	1,981	4,240
Operating Lease, Payments	$ 9,060	$ 25,134

Business Segment Information _2

Business Segment Information Business Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended				9 Months Ended
		Dec. 31, 2019		Dec. 31, 2018		Dec. 31, 2019		Dec. 31, 2018
Segment Reporting Information [Line Items]
Revenues		$ 774,261		$ 696,238		$ 2,207,904		$ 2,013,957
Segment operating income		142,387		69,584		379,208		270,587
Restructuring Charges	[1]	385		35,243		3,328		35,243
Amortization of acquired intangible assets	[2]	17,508		33,894		53,407		68,907
Acquisition and integration related charges		1,721	[2]	1,816	[2]	5,585	[3]	6,197	[3]
loss (gain) on fair value contingent consideration adjustments		0		0	[2]	0		(842)	[2]
Impact of TCJA	[4]	487		4,747		3,274		5,633
Net loss on divestiture of businesses	[2]	(76)		1,170		2,553		(508)
Amortization of inventory and property step-up to fair value	[2]	602		615		1,783		1,840
Healthcare Products
Segment Reporting Information [Line Items]
Revenues		365,353		338,264		1,025,421		951,779
Segment operating income		89,849		82,820		250,510		217,011
Restructuring Charges						31,278
Healthcare Specialty Services
Segment Reporting Information [Line Items]
Revenues		143,869		127,761		414,816		374,564
Segment operating income		15,378		16,007		48,267		44,422
Restructuring Charges						2,518
Life Sciences
Segment Reporting Information [Line Items]
Revenues		108,773		93,451		304,208		275,571
Segment operating income		37,731		33,129		103,085		96,260
Restructuring Charges						668
Applied Sterilization Technologies
Segment Reporting Information [Line Items]
Revenues		156,266		136,762		463,459		412,043
Segment operating income		65,468		54,798		198,889		164,417
Restructuring Charges						7,798
Corporate
Segment Reporting Information [Line Items]
Segment operating income		(45,260)		(42,025)		(151,613)		(135,053)
Segment operating income
Segment Reporting Information [Line Items]
Revenues		774,261		696,238		2,207,904		2,013,957
Segment operating income		163,166		144,729		449,138		387,057
Other foreign locations [Member]
Segment Reporting Information [Line Items]
Revenues		195,633		187,695		549,744		549,983
UNITED STATES
Segment Reporting Information [Line Items]
Revenues		562,502		494,328		1,611,755		1,423,101
UNITED KINGDOM
Segment Reporting Information [Line Items]
Revenues		16,126		14,215		46,405		40,873
Consumable revenues [Member] | Healthcare Products
Segment Reporting Information [Line Items]
Revenues		121,517		107,451		338,691		309,545
Consumable revenues [Member] | Life Sciences
Segment Reporting Information [Line Items]
Revenues		46,370		41,157		132,939		119,844
Sales Revenue, Services, Net [Member] | Healthcare Products
Segment Reporting Information [Line Items]
Revenues		95,820		87,633		276,481		258,148
Sales Revenue, Services, Net [Member] | Life Sciences
Segment Reporting Information [Line Items]
Revenues		30,641		28,931		86,276		83,438
Capital equipment revenues [Member] | Healthcare Products
Segment Reporting Information [Line Items]
Revenues		148,016		143,180		410,249		384,086
Capital equipment revenues [Member] | Life Sciences
Segment Reporting Information [Line Items]
Revenues		$ 31,762		$ 23,363		$ 84,993		$ 72,289
[1]	(4) For more information regarding our restructuring activities see Note 2 titled, "Restructuring".
[2]	For more information regarding our recent acquisitions and divestitures see Note 17 titled, "Business Acquisitions and Divestitures", as well as our Annual Report on Form 10-K for the year ended March 31, 2019 , dated May 30, 2019 .
[3]	Acquisition and integration related charges include transaction costs and integration expenses associated with acquisitions.
[4]	(3)

Shares and Preferred Shares Ord

Shares and Preferred Shares Ordinary Shares (Details)	3 Months Ended		9 Months Ended
	Dec. 31, 2019$ / sharesshares	Dec. 31, 2018shares	Dec. 31, 2019$ / sharesshares	Dec. 31, 2018shares	Dec. 31, 2019EUR (€)shares	May 03, 2019$ / shares	Mar. 31, 2019$ / shares
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Weighted average shares outstanding - basic	84,788,000	84,540,000	84,740,000	84,587,000
Dilutive effect of share equivalents	840,000	901,000	890,000	889,000
Weighted average shares outstanding and share equivalents - diluted	85,628,000	85,441,000	85,630,000	85,476,000
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Preferred Stock, Shares Authorized					50,000,000
Common Stock, Par or Stated Value Per Share | $ / shares	$ 0.001		$ 0.001			$ 75	$ 75
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 0.001		$ 0.001
Deferred Ordinary Shares					25,000
Employee share option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of share options that are antidilutive	347,000	435,000	270,000	331,000
Euro Member Countries, Euro
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Par Value (Euros) of Deferred Ordinary Shares | €					€ 1

Shares and Preferred Shares Pre

Shares and Preferred Shares Preferred Shares (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Mar. 31, 2018
Class of Stock [Line Items]
Preferred shares, par value	$ 0.001
Preferred Stock, Value, issued		$ 15	$ 15	$ 15

Repurchases of Shares Repurchas

Repurchases of Shares Repurchases of Shares (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Jul. 30, 2019	May 07, 2019	Aug. 09, 2016
Equity, Class of Treasury Stock [Line Items]
Share repurchase program, number of shares authorized	$ 348,979		$ 300,000	$ 78,979	$ 300,000
Shares repurchased during period, number	205,059	445,700
Aggregate value of shares repurchased pursuant to authorization	$ 30,000	$ 47,082
Shares obtained in connection with share based compensation award programs	100,124	110,445
Payments for shares obtained in connection with share based compensation programs	$ 10,318	$ 8,151

Share-Based Compensation Shar_2

Share-Based Compensation Share-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Item]
Remaining shares available for grant	3,921,680
Weighted-average assumptions used for options granted:
Risk-free interest rate	2.26%	2.64%
Expected life of options	6 years 2 months 12 days	6 years 2 months 12 days
Exptected dividend yield of stock	1.22%	1.47%
Expected volatility of stock	20.27%	19.91%
Estimated forfeiture rate	2.77%	2.37%
Summary of share option activity:
Outstanding at March 31, 2017	2,104,685
Granted	345,138
Exercised	(415,072)
Forfeited	(13,264)
Outstanding at June 30, 2017	2,021,487
Exercisable at June 30, 2017	1,120,722
Weighted average exercise price:
Outstanding at March 31, 2017	$ 72.82
Granted	147.22
Exercised	55.24
Forfeited	102.06
Outstanding at June 30, 2017	88.94
Exercisable at June 30, 2017	$ 68.12
Average Remaining Contractual Term, Outstanding at June 30, 2017	6 years 10 months 24 days
Aggregate Intrinsic Value, Outstanding at June 30, 2017	$ 128,323
Average Remaining Contractual Term, Exercisable at June 30, 2017	5 years 8 months 12 days
Aggregate Intrinsic Value, Exercisable at June 30, 2017	$ 94,476
Non-vested stock options outstanding expected to vest	879,534
Ordinary shares, closing price	$ 152.42
Total intrinsic value of stock options exercised	$ 36,939	$ 13,773
Net cash proceeds from the exercise of stock options	$ 22,958	$ 7,534
Weighted average grant date fair value of stock option grants, per share	$ 23.52	$ 18.12
Summary of non-vested restricted share activity:
Unrecognized compensation cost related to nonvested share-based compensation granted	$ 48,301
Weighted Average Period For Total Compensation Expense Not Yet Recognized	2 years 2 months 12 days
Stock Appreciation Rights (SARs) [Member]
Weighted average exercise price:
FairValueOfOutstandingStockAppreciationRights	$ 629	$ 692
Restricted Stock
Summary of non-vested restricted share activity:
Number of Restricted Shares, Non-vested at Beginning of Period	676,373
Weighted-Average Grant Date Fair Value, Non-vested at Beginning of Period	$ 80.86
Number of Restricted Shares, Granted	156,126
Weighted-Average Grant Date Fair Value, Granted	$ 135.65
Number of Restricted Shares, Vested	(214,645)
Weighted-Average Grant Date Fair Value, Vested	$ 74.63
Number of Restricted Shares, Canceled	(20,620)
Weighted-Average Grant Date Fair Value, Canceled	$ 88.84
Number of Restricted Shares, Non-vested at End of Period	597,234
Weighted-Average Grant Date Fair Value, Non-vested at End of Period	$ 97.68
Fair Value, Share-based Payment Awards, Other than Options	$ 17,138
Restricted Stock Units (RSUs)
Summary of non-vested restricted share activity:
Number of Restricted Shares, Non-vested at Beginning of Period	33,219
Number of Restricted Shares, Granted	13,081
Number of Restricted Shares, Vested	(14,999)
Number of Restricted Shares, Canceled	(1,879)
Number of Restricted Shares, Non-vested at End of Period	29,422

Financial and Other Guarantee_2

Financial and Other Guarantees Financial and Other Guarantees (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2019USD ($)
Product Warranty Liability [Line Items]
Balance, March 31, 2017	$ 7,194
Warranties issued during the period	8,885
Settlement made during the period	(8,951)
Balance, June 30, 2017	$ 7,128

Derivatives and Hedging Fair Va

Derivatives and Hedging Fair Value of Derivatives, Balance Sheet Location (Details) $ in Thousands, € in Millions, $ in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2019USD ($)lb	Dec. 31, 2018USD ($)	Dec. 31, 2019MXN ($)	Dec. 31, 2019CAD ($)	Dec. 31, 2019EUR (€)	Mar. 31, 2019USD ($)
Derivative [Line Items]
Non-derivative Net Investment Hedge	$ 46,185		$ 46,185
Prepaid & Other
Derivative [Line Items]
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	0		0					$ 0
Derivative, notional amount	423		423					552
Accrued expenses and other
Derivative [Line Items]
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	69		69					278
Derivative, notional amount	0		$ 0					$ 0
Commodity swap contracts
Derivative [Line Items]
Derivative, notional amount, weight | lb			867,000
Mexican peso | Foreign currency forward contracts
Derivative [Line Items]
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value					$ 33.3
Canadian dollar | Foreign currency forward contracts
Derivative [Line Items]
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value						$ 3.6
euro | Foreign currency forward contracts
Derivative [Line Items]
Derivative, notional amount | €							€ 3.6
Selling, General and Administrative Expenses [Member] | Foreign currency forward contracts
Derivative [Line Items]
Gain (Loss) on Derivative Instruments, Net, Pretax	(79)	$ 488	$ (784)	$ 100
Cost of Sales [Member] | Commodity swap contracts
Derivative [Line Items]
Gain (Loss) on Derivative Instruments, Net, Pretax	$ 398	$ 252	$ (271)	$ 283

Derivatives and Hedging Gain (L

Derivatives and Hedging Gain (Loss) on Derivatives, Income Statement Location (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Foreign currency forward contracts | Selling, general, and administrative expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in income	$ 79	$ (488)	$ 784	$ (100)
Commodity swap contracts | Cost of revenues
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in income	$ (398)	$ (252)	$ 271	$ (283)

Fair Value Measurements Fair _2

Fair Value Measurements Fair Value Hierarchy (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2019	Jun. 30, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt and Equity Securities, Gain (Loss)		$ 636	$ (2,154)	$ (1,843)	$ (4,663)
Assets:
Investment Owned, at Cost							$ 4,955
Liabilities:
Contingent consideration		15,272		15,272		$ 5,950
Level 1
Assets:
Cash and cash equivalents		199,230		199,230		220,633
Forward and swap contracts	[1]	0		0		0
Equity Securities, FV-NI	[2]	12,034		12,034		13,873
Investments		2,539		2,539		2,545
Liabilities:
Forward and swap contracts	[1]	0		0		0
Deferred compensation plans	[2]	1,728		1,728		1,564
Long term debt	[3]	0		0		0
Contingent consideration	[4]	0		0		0
Level 2
Assets:
Cash and cash equivalents		0		0		0
Forward and swap contracts	[1]	423		423		552
Equity Securities, FV-NI	[2]	0		0
Investments		0		0		0
Liabilities:
Forward and swap contracts	[1]	69		69		278
Deferred compensation plans	[2]	0		0		0
Long term debt	[3]	1,160,460		1,160,460		1,200,558
Contingent consideration	[4]	0		0		0
Level 3
Assets:
Cash and cash equivalents		0		0		0
Forward and swap contracts	[1]	0		0		0
Investments						0
Liabilities:
Forward and swap contracts	[1]	0		0		0
Deferred compensation plans	[2]	0		0		0
Long term debt	[3]	0		0		0
Contingent consideration	[4]	15,272		15,272		5,950
Carrying Value
Assets:
Cash and cash equivalents		199,230		199,230		220,633
Forward and swap contracts	[1]	423		423		552
Equity Securities, FV-NI	[2]	12,034		12,034		13,873
Investments		2,539		2,539		2,545
Liabilities:
Forward and swap contracts	[1]	69		69		278
Deferred compensation plans	[2]	1,728		1,728		1,564
Long term debt	[3]	1,136,964		1,136,964		1,183,227
Contingent consideration	[4]	$ 15,272		$ 15,272		$ 5,950
[1]	(1) The fair values of forward and swap contracts are based on period-end forward rates and reflect the value of the amount that we would pay or receive for the contracts involving the same notional amounts and maturity dates.
[2]	We maintain a frozen domestic non-qualified deferred compensation plan covering certain employees, which allows for the deferral of payment of previously earned compensation for an employee-specified term or until retirement or termination. Amounts deferred can be allocated to various hypothetical investment options (compensation deferrals have been frozen under the plan). We hold investments to satisfy the future obligations of the plan. Employees who made deferrals are entitled to receive distributions of their hypothetical account balances (amounts deferred, together with earnings (losses)). We also hold an investment in the common stock of Servizi Italia, S.p.A, a leading provider of integrated linen washing and outsourced sterile processing services to hospital Customers. Changes in the fair value of these investments are recorded in the "Interest income and miscellaneous expense line" of the Consolidated Statement of Income. During the third quarter and first nine months of fiscal 2020, we recorded a gain of $636 and a loss of $(1,843)
[3]	We estimate the fair value of our long-term debt using discounted cash flow analyses, based on our current incremental borrowing rates for similar types of borrowing arrangements.
[4]	Contingent consideration obligations arise from business acquisitions. The fair values are based on discounted cash flow analyses reflecting the possible achievement of specified performance measures or events and captures the contractual nature of the contingencies, commercial risk, and the time value of money. Contingent consideration obligations are classified in the consolidated balance sheets as accrued expense (short-term) and other liabilities (long-term), as appropriate based on the contractual payment dates.

Fair Value Measurements Conting

Fair Value Measurements Contingent Consideration Rollforward (Details) - USD ($) $ in Thousands		9 Months Ended
		Dec. 31, 2019	Mar. 31, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration		$ 15,272	$ 5,950
Additions
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in contingent consideration		9,220
Foreign currency translation adjustment
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in contingent consideration		102
Fair Value, Inputs, Level 3 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration	[1]	$ 15,272	5,950
Fair value			$ 0
[1]	Contingent consideration obligations arise from business acquisitions. The fair values are based on discounted cash flow analyses reflecting the possible achievement of specified performance measures or events and captures the contractual nature of the contingencies, commercial risk, and the time value of money. Contingent consideration obligations are classified in the consolidated balance sheets as accrued expense (short-term) and other liabilities (long-term), as appropriate based on the contractual payment dates.

Fair Value Measurements Availab

Fair Value Measurements Available-for-sale securities (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Equity Securities, FV-NI, Gain (Loss)	$ 636	$ (2,154)	$ (1,843)	$ (4,663)

Reclassifications out of Accu_3

Reclassifications out of Accumulated Other Comprehensive Income Reclassification out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands		3 Months Ended				9 Months Ended
		Dec. 31, 2019		Dec. 31, 2018		Dec. 31, 2019		Dec. 31, 2018		Sep. 30, 2019		Mar. 31, 2019	Sep. 30, 2018		Mar. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax		$ (148,922)		$ (167,025)		$ (148,922)		$ (167,025)		$ (225,717)		$ (159,778)	$ (126,780)		$ 11,685
Other Comprehensive Income (Loss), Net of Tax		77,494		(39,682)		12,947		(175,050)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		699		563		2,091		1,690
Other Comprehensive (Loss) Income, Net of Tax, Portion Attributable to Parent		(76,795)		40,245		(10,856)		176,740
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification								(5,637)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
AOCI, Debt Securities, Available-for-sale, Adjustment, after Tax				0				0					0
Other Comprehensive (Loss) Income, Available-for-sale Securities Adjustment, Net of Tax				0				0
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax				0				0
Other Comprehensive (Loss) Income, Net of Tax, Portion Attributable to Parent				0				0
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax		5,719	[1]	7,980	[2]	5,719	[1]	7,980	[2]	5,215	[1]	4,204	7,565	[2]	6,742	[2]
Other Comprehensive Income (Loss), Net of Tax		(195)	[1]	(148)	[2]	(576)	[1]	(452)	[2]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		699	[1]	563	[2]	2,091	[1]	1,690	[2]
Other Comprehensive (Loss) Income, Net of Tax, Portion Attributable to Parent		504	[1]	415	[2]	1,515	[1]	1,238	[2]
Accumulated Foreign Currency Adjustment Attributable to Parent [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	[3]	(143,203)		(159,045)		(143,203)		(159,045)		$ (220,502)		$ (155,574)	$ (119,215)		$ 16,457
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	[3]	77,299		(39,830)		12,371		(175,502)
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		0		0	[3]	0	[3]	0	[3]
Other Comprehensive (Loss) Income, Net of Tax, Portion Attributable to Parent	[3]	$ (77,299)		$ 39,830		$ (12,371)		175,502
Including Impact of Adoption of ASU 2016-01 [Domain]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other Comprehensive (Loss) Income, Net of Tax, Portion Attributable to Parent								176,740
Accounting Standards Update 2016-01 [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification	[4]							$ (1,970)
[1]	The amortization (gain) of defined benefit pension items is reported in the Interest income and miscellaneous expense line of our Consolidated Statements of Income.
[2]	Amortization (gain) of defined benefit pension items is reported in the Interest income and miscellaneous expense line of our Consolidated Statements of Income.
[3]	The effective portion of gain or loss on net debt designated as non-derivative net investment hedging instruments is recognized in Accumulated Other Comprehensive Income and is reclassified to income in the same period when a gain or loss related to the net investment is included in income.
[4]	As a result of the adoption of ASC 2016-01, we recorded a cumulative effect adjustment to our opening fiscal 2019 retained earnings balance that increased retained earnings and decreased accumulated other comprehensive income.

Loans Receivable (Details)

Loans Receivable (Details) € in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Dec. 31, 2019USD ($)	Mar. 31, 2017EUR (€)	Dec. 31, 2019EUR (€)	Oct. 31, 2019EUR (€)	Mar. 31, 2019USD ($)	Mar. 31, 2019EUR (€)	Jun. 30, 2018USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investments							$ 4,955
Line of Credit Provide							$ 10,000
Equity Investee Loan [Domain]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Term of Loan in Years	7 years
Financing Receivable, after Allowance for Credit Loss	$ 7,652				$ 7,465
Dutch Linen Loan [Domain]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Term of Loan in Years	4 years	15 years
Financing Receivable, after Allowance for Credit Loss	$ 8,175		€ 7,300	€ 7,300	$ 8,494	€ 7,550
Loan Agreement Max Borrowing Amount Dutch Linen Sale | €		€ 15,000
Years 1-4, 4% Int Rate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate on loan receivable		4.00%		4.00%
Loan Rate 4% [Member] [Domain]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate on loan receivable							4.00%
Years 5-15, 12% Int Rate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate on loan receivable		12.00%
Years 5-6,8% Int Rate [Member] [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate on loan receivable				8.00%

Restructuring (Details)

Restructuring (Details) $ in Thousands		3 Months Ended		9 Months Ended
		Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2019USD ($)plan	Dec. 31, 2018USD ($)	Mar. 31, 2019USD ($)
Restructuring and Related Cost, Expected Number of Positions Eliminated | plan				200
Restructuring expense incurred since Plan inception				$ 44,036
Restructuring Reserve		$ 1,663		1,663		$ 6,131
Restructuring Costs		(448)	$ 26,147	667	$ 26,147
Restructuring Charges	[1]	385	35,243	3,328	35,243
Restructuring Reserve, Accrual Adjustment				1,831
Increase (Decrease) in Restructuring Reserve	[2]			(6,299)
Operating Expense [Member]
Restructuring Charges				31,654
Cost of Goods and Service Benchmark [Member]
Restructuring Charges				12,382
Product Rationalization [Member]
Restructuring Costs	[3]	833	9,096	2,661	9,096
Employee Severance [Member]
Restructuring Reserve		1,230		1,230		4,102
Restructuring Costs		(696)	2,743	1,407	2,743
Restructuring Reserve, Accrual Adjustment				1,407
Increase (Decrease) in Restructuring Reserve	[2]			4,279
Accelerated depreciation and amortization [Member]
Restructuring Costs		0	15,251	(1,164)	15,251
Contract Termination [Member]
Restructuring Reserve		433		433		$ 2,029
Restructuring Costs		248	3,841	424	3,841
Restructuring Reserve, Accrual Adjustment				424
Increase (Decrease) in Restructuring Reserve	[2]			2,020
Asset impairment charges [Member]
Restructuring Costs		$ 0	$ 4,312	0	$ 4,312
Healthcare Products [Member] [Member]
Restructuring Charges				31,278
Healthcare Specialty Services [Member]
Restructuring Charges				2,518
Life Science Member [Member]
Restructuring Charges				668
Applied Sterilization Technologies [Member]
Restructuring Charges				7,798
Corporate, Non-Segment [Member]
Restructuring Charges				$ 1,774
[1]	(4) For more information regarding our restructuring activities see Note 2 titled, "Restructuring".
[2]	Certain amounts reported include the impact of foreign currency movements relative to the U.S. dollar.
[3]	Recorded in cost of revenues on the Consolidated Statements of Income.