STERIS (STE) 10-Q 7 Aug 20 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	3 Months Ended
	Jun. 30, 2020	Jul. 31, 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	1 232 2000
Entity Central Index Key	0001757898
Document Type	10-Q
Entity File Number	001-38848
Document Period End Date	Jun. 30, 2020
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--03-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		85,053,103
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,
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
City Area Code	353

CONSOLIDATED BALANCE SHEETS (un

CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Current assets:
Cash and cash equivalents	$ 255,627	$ 319,581
Accounts receivable (net of allowances of $10,839 and $12,051 respectively)	503,172	586,481
Inventories, net	276,970	248,259
Prepaid expenses and other current assets	61,359	54,430
Total current assets	1,097,128	1,208,751
Property, plant, and equipment, net	1,148,052	1,111,855
Operating Lease, Right-of-Use Asset	143,463	131,837
Goodwill	2,371,789	2,356,085
Intangible Assets, Net (Excluding Goodwill)	551,526	565,473
Other assets	51,969	51,581
Total assets	5,363,927	5,425,582
Current liabilities:
Accounts payable	133,532	149,341
Accrued income taxes	28,205	14,013
Accrued payroll and other related liabilities	82,039	128,261
Short-term Debt	35,000	0
Capital Lease Obligations, Current	20,575	19,809
Accrued expenses and other	180,198	192,183
Total current liabilities	479,549	503,607
Long-term indebtedness	1,022,156	1,150,521
Deferred income taxes, net	160,972	160,270
Capital Lease Obligations, Noncurrent	125,151	114,114
Other Liabilities, Noncurrent	86,386	90,346
Total liabilities	1,874,214	2,018,858
Commitments and contingencies (see Note 8)
Common shares, with $.001 par value; 500,000 shares authorized; 85,060 and 84,924 shares issued and outstanding	1,983,047	1,982,164
Retained earnings	1,699,971	1,647,175
Accumulated other comprehensive income	(208,354)	(235,463)
Total shareholders' equity	3,474,664	3,393,876
Noncontrolling interest	15,049	12,848
Total equity	3,489,713	3,406,724
Total liabilities and equity	$ 5,363,927	$ 5,425,582

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (unaudited) Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Accounts Receivable, Allowance for Credit Loss, Current	$ 10,839	$ 12,051
Preferred Stock, Shares Authorized	50,000,000
Preferred Stock, Par or Stated Value Per Share	$ 0.001
Common Stock, Shares Authorized	$ 500,000	$ 500,000
Common Stock, Shares, Issued	500,000,000	500,000,000
Common Stock, Shares, Outstanding	85,060,000	84,924,000
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Intangible Assets, Net (Excluding Goodwill)	$ 551,526	$ 565,473

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Total revenues	$ 668,932	$ 696,803
Cost of revenues:
Total cost of revenues	383,364	390,960
Gross Profit	285,568	305,843
Operating expenses:
Selling, general, and administrative	155,170	178,781
Research and development	16,231	15,585
Restructuring Costs	166	1,389
Total operating expenses	171,567	195,755
Income from operations	114,001	110,088
Non-operating expenses, net:
Interest expense	9,492	10,445
Interest income and miscellaneous expense	(2,289)	233
Total non-operating expenses, net	7,203	10,678
Income before income tax expense	106,798	99,410
Income tax expense	18,674	14,633
Net Income	88,124	84,777
Less: Net Income Attributable to Noncontrolling Interest	(66)	187
Net income (loss) attributable to shareholders	$ 88,190	$ 84,590
Net income per common share [Abstract]
Basic	$ 1.04	$ 1
Diluted	1.03	0.99
Cash dividends declared per common share outstanding	$ 0.37	$ 0.34
Product [Member]
Revenues:
Total revenues	$ 301,108	$ 307,735
Cost of revenues:
Cost of Goods and Services Sold	156,555	160,959
Service [Member]
Revenues:
Total revenues	367,824	389,068
Cost of revenues:
Cost of Goods and Services Sold	$ 226,809	$ 230,001

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Net Income	$ 88,124	$ 84,777
Less: Net Income Attributable to Noncontrolling Interest	(66)	187
Net income (loss) attributable to shareholders	88,190	84,590
Other comprehensive (loss) income
Amortization of pension and postretirement benefits plans costs, (net of taxes of $170 and $169, respectively)	(510)	(505)
Change in cumulative foreign current translation adjustment	27,619	3,439
Total other comprehensive (loss) income	27,109	2,934
Comprehensive income	115,299	87,524
Other comprehensive (loss) income (parenthetical)
Amortization of pension and postretirement benefits plans costs, tax	$ 174	$ 170

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands		3 Months Ended
		Jun. 30, 2020	Jun. 30, 2019
Net Income		$ 88,124	$ 84,777
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, and amortization		48,954	47,102
Deferred income taxes		(189)	(612)
Share-based compensation		5,962	5,537
(Gain) loss on the disposal of property, plant, and equipment, and intangibles, net		237	61
Loss on sale of businesses, net	[1]	10	2,426
Other items		6,842	596
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable, net		84,665	57,620
Inventories, net		(27,015)	(24,622)
Other current assets		(6,729)	(2,480)
Accounts payable		(17,011)	(17,276)
Accruals and other, net		(49,728)	(43,792)
Net cash provided by operating activities		134,122	109,337
Investing activities:
Purchases of property, plant, equipment, and intangibles, net		(66,861)	(49,794)
Proceeds from the sale of property, plant, equipment, and intangibles		137	18
Proceeds from Divestiture of Businesses, Net of Cash Divested		0	439
Acquisition of businesses, net of cash acquired		0	(34,970)
Net cash used in investing activities		(66,724)	(84,307)
Financing activities:
Proceeds (Payments) under credit facilities, net		(95,837)	27,861
Deferred financing fees and debt issuance costs		0	(1,206)
Acquisition related deferred or contingent consideration		(21)	(452)
Repurchases of ordinary shares		(14,296)	(14,886)
Cash dividends paid to ordinary shareholders		(31,471)	(28,823)
Proceeds from issuance of equity to minority shareholders		2,258	0
Stock option and other equity transactions, net		5,367	9,899
Net cash used in financing activities		(134,000)	(7,607)
Effect of exchange rate changes on cash and cash equivalents		2,648	11
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect		(63,954)	17,434
Cash and cash equivalents at beginning of period		319,581	220,633
Cash and cash equivalents at end of period		$ 255,627	$ 238,067
[1]	For more information regarding our recent acquisitions and divestitures refer to our Annual Report on Form 10-K for the year ended March 31, 2020 , dated May 29, 2020 .

CONSOLIDATED STATEMENT OF SHARE

CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY Statement - USD ($) shares in Thousands, $ in Thousands	Total	Noncontrolling Interest [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Common Stock [Member]
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
Common Stock, Dividends, Per Share, Cash Paid	$ 0.34
Net Income (Loss) Attributable to Parent	$ 84,590		0	84,590	$ 0
Net Income (Loss) Attributable to Noncontrolling Interest	187	187
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	84,777
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	2,934		2,934
Treasury Stock, Shares, Acquired					(127)
Payments for Repurchase of Common Stock	(14,886)		0	2,599	$ (17,485)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture					364
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	15,275	0	0	0	$ 15,275
Dividends, Common Stock, Cash	(28,823)	0	0	(28,823)	0
Noncontrolling Interest, Change in Redemption Value	(73)	(73)	0	0	$ 0
Shares, Issued					84,754
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	3,245,002
Stockholders' Equity Attributable to Parent			(156,844)	1,397,390	$ 1,996,354
Stockholders' Equity Attributable to Noncontrolling Interest		8,102
Shares, Issued					84,924
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	3,406,724	12,848	(235,463)	1,647,175	$ 1,982,164
Stockholders' Equity Attributable to Parent	3,393,876
Stockholders' Equity Attributable to Noncontrolling Interest	$ 12,848
Common Stock, Dividends, Per Share, Cash Paid	$ 0.37
Net Income (Loss) Attributable to Parent	$ 88,190		0	88,190	$ 0
Net Income (Loss) Attributable to Noncontrolling Interest	(66)	(66)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	88,124
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	27,109		27,109
Treasury Stock, Shares, Acquired					(98)
Payments for Repurchase of Common Stock	(14,296)		0	(3,923)	$ (10,373)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture					234
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture	11,256	0	0	0	$ 11,256
Dividends, Common Stock, Cash	(31,471)	0	0	(31,471)	0
Contributions from noncontrolling interest	(2,258)	2,258
Noncontrolling Interest, Change in Redemption Value	9	9	0	0	$ 0
Shares, Issued					85,060
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	3,489,713
Stockholders' Equity Attributable to Parent	3,474,664		$ (208,354)	$ 1,699,971	$ 1,983,047
Stockholders' Equity Attributable to Noncontrolling Interest	$ 15,049	$ 15,049

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies(Notes)	3 Months Ended
	Jun. 30, 2020
Notes To Financial Statements [Abstract]
Nature of Operations	Nature of Operations and Summary of Significant Accounting Policies Nature of Operations STERIS plc is a leading provider of infection prevention and other procedural products and services. Our MISSION IS TO HELP OUR CUSTOMERS CREATE A HEALTHIER AND SAFER WORLD by providing innovative healthcare and life science product and service solutions around the globe. We offer our Customers a unique mix of innovative consumable products, such as detergents, gastrointestinal ("GI") endoscopy accessories, barrier product solutions, and other products and services, including: equipment installation and maintenance, microbial reduction of medical devices, instrument and scope repair solutions, laboratory testing services, on-site and off-site reprocessing, and capital equipment products, such as sterilizers and surgical tables, and connectivity solutions such as operating room (“OR”) integration. 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, and cash flows 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, 2020 dated May 29, 2020 . The Consolidated Balance Sheet at March 31, 2020 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 month period ended June 30, 2020 are not necessarily indicative of results that may be expected for future quarters or for the full fiscal year ending March 31, 2021. 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. At the time of adoption, certain of our capital equipment contracts were comprised of a single integrated performance obligation, which resulted in the deferral of the corresponding capital equipment revenue and cost of revenues until installation was complete. Since the adoption of the standard, there have been changes made in our selling philosophy, product architecture, and manufacturing processes with respect to this product line, that impact whether the promises to transfer the individual goods or services to the Customer are separately identifiable from other promises in the contract. After review of these changes, we have concluded that these contracts consist of multiple performance obligations that are capable of being distinct and meet the criteria for revenue to be recognized when the Customer obtains control of the asset, which is upon delivery of each performance obligation. Revenues and costs of revenues related to these contracts totaling $14,609 and $7,560 , respectively, that had previously been deferred were recognized in our fiscal 2021 first quarter. 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 June 30, 2020, 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 capital equipment products is deferred until installation is complete if the capital equipment and installation are highly integrated and form a single performance obligation. Service Revenue Within our Healthcare 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 Group Purchasing Organization ("GPO") agreement. For maintenance, repair and installation of capital equipment, revenue is recognized upon completion of the service. Healthcare service revenues also include 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. 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 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 three months of fiscal 2021, $30,804 of the March 31, 2020 deferred revenue balance was recorded as revenue. During the first three months of fiscal 2020, $39,484 of the March 31, 2019 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 preventive 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 June 30, 2020, the transaction price allocated to remaining performance obligations was approximately $930,000 . We expect to recognize approximately 48% of the transaction price within one year and approximately 46% 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 been adopted in fiscal 2021 ASU 2016-13, "Measurement of Credit Losses on Financial Instruments" June 2016 The standard required 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 was effective for annual periods beginning after December 15, 2019. First Quarter Fiscal 2021 We adopted this standard effective April 1, 2020 with no material impact to 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 modified 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 was effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. First Quarter Fiscal 2021 We adopted this standard effective April 1, 2020 with no 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 modified 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 clarified disclosure requirements for defined benefit pension plans relating to the projected benefit obligation and accumulated benefit obligation. The standard was effective for fiscal years ending after December 15, 2019. First Quarter Fiscal 2021 We adopted this standard effective April 1, 2020 with no 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 aligned 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 was effective for fiscal years beginning after December 15, 2019. First Quarter Fiscal 2021 We adopted this standard on April 1, 2020 using the prospective method. The adoption of this standard did not have a material impact on our consolidated financial statements and disclosures. Standards that have not yet been adopted ASU 2019-12 "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 beginning 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, 2020 dated May 29, 2020 . Our significant and critical accounting policies, estimates, and assumptions have not changed materially from March 31, 2020 .

Inventories, Net (Notes)

Inventories, Net (Notes)	3 Months Ended
	Jun. 30, 2020
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: June 30, March 31, Raw materials $ 104,557 $ 94,321 Work in process 40,833 35,643 Finished goods 167,277 151,381 LIFO reserve (18,753 ) (16,937 ) Reserve for excess and obsolete inventory (16,944 ) (16,149 ) Inventories, net $ 276,970 $ 248,259

Property, Plant and Equipment (

Property, Plant and Equipment (Notes)	3 Months Ended
	Jun. 30, 2020
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: June 30, March 31, Land and land improvements (1) $ 66,390 $ 65,994 Buildings and leasehold improvements 534,095 531,267 Machinery and equipment 692,188 682,488 Information systems 180,378 181,112 Radioisotope 524,356 508,593 Construction in progress (1) 198,600 159,731 Total property, plant, and equipment 2,196,007 2,129,185 Less: accumulated depreciation and depletion (1,047,955 ) (1,017,330 ) Property, plant, and equipment, net $ 1,148,052 $ 1,111,855 (1) Land is not depreciated. Construction in progress is not depreciated until placed in service.

Debt (Notes)

Debt (Notes)	3 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	Debt Indebtedness was as follows: June 30, March 31, Short term debt Private Placement $ 35,000 $ — Total short term debt $ 35,000 $ — Long term debt Credit Agreement $ 180,574 $ 275,449 Private Placement 844,765 878,409 Deferred financing costs (3,183 ) (3,337 ) Total long term debt $ 1,022,156 $ 1,150,521 Total debt $ 1,057,156 $ 1,150,521

Additional Consolidated Balance

Additional Consolidated Balance Sheets Information (Notes)	3 Months Ended
	Jun. 30, 2020
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: June 30, March 31, Accrued payroll and other related liabilities: Compensation and related items $ 45,787 $ 42,205 Accrued vacation/paid time off 10,899 9,917 Accrued bonuses 12,621 53,041 Accrued employee commissions 8,876 19,298 Other postretirement benefit obligations-current portion 1,488 1,488 Other employee benefit plans obligations-current portion 2,368 2,312 Total accrued payroll and other related liabilities $ 82,039 $ 128,261 Accrued expenses and other: Deferred revenues $ 39,975 $ 53,299 Service liabilities 45,423 47,505 Self-insured risk reserves-current portion 7,942 7,342 Accrued dealer commissions 18,841 15,827 Accrued warranty 7,002 7,381 Asset retirement obligation-current portion 908 2,671 Other 60,107 58,158 Total accrued expenses and other $ 180,198 $ 192,183 Other liabilities: Self-insured risk reserves-long-term portion $ 17,452 $ 17,452 Other postretirement benefit obligations-long-term portion 9,012 9,880 Defined benefit pension plans obligations-long-term portion 11,632 10,987 Other employee benefit plans obligations-long-term portion 2,371 2,333 Accrued long-term income taxes 11,991 11,959 Asset retirement obligation-long-term portion 11,120 9,843 Other 22,808 27,892 Total other liabilities $ 86,386 $ 90,346

Income Tax Expense (Notes)

Income Tax Expense (Notes)	3 Months Ended
	Jun. 30, 2020
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 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 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 June 30, 2020 and 2019 were 17.5% and 14.7% , respectively. The fiscal 2021 effective tax rate increased when compared to fiscal 2020 primarily due to an increased percentage of profits earned and taxed in jurisdictions with a higher tax rate. 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 . Notices have not been received for subsequent periods. 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.

Business Segment Information (N

Business Segment Information (Notes)	3 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information We operate and report our financial information in three reportable business segments: Healthcare, Applied Sterilization Technologies and Life Sciences. Non-allocated operating costs that support the entire Company and items not indicative of operating trends are excluded from segment operating income. Prior to April 1, 2020, we operated and reported our financial information in four reportable business segments: Healthcare Products, Healthcare Specialty Services, Life Sciences, and Applied Sterilization Technologies. The Healthcare Products and Healthcare Specialty Services segments were combined and are now reported as one segment, simply called Healthcare, consistent with the way management now operates and views the business. Prior periods have been recasted in the financial tables below for comparability. Our Healthcare segment offers infection prevention and procedural solutions for healthcare providers worldwide, including consumable products, equipment maintenance and installation services, and capital equipment. The segment also provides a range of specialty services for healthcare providers including hospital sterilization services and instrument and scope repairs. Our Applied Sterilization Technologies ("AST") segment provides contract sterilization and testing services for medical device and pharmaceutical manufacturers. Our Life Sciences segment designs, manufactures and sells consumable products, equipment maintenance, specialty services and capital equipment primarily to pharmaceutical manufacturers around the world. 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 months ended June 30, 2020 , 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, 2020 , dated May 29, 2020 . Financial information for each of our segments is presented in the following table: Three Months Ended June 30, 2020 2019 Revenues: Healthcare $ 399,658 $ 445,732 Applied Sterilization Technologies 152,362 154,286 Life Sciences 116,912 96,785 Total revenues $ 668,932 $ 696,803 Operating income (loss): Healthcare $ 82,357 $ 90,515 Applied Sterilization Technologies 63,955 68,035 Life Sciences 48,461 33,039 Corporate (52,367 ) (55,397 ) Total operating income before adjustments $ 142,406 $ 136,192 Less: Adjustments Amortization of acquired intangible assets (1) $ 17,500 $ 16,949 Acquisition and integration related charges (2) 1,286 1,917 Redomiciliation and tax restructuring costs (3) 170 1,770 Net loss on divestiture of businesses (1) 10 2,426 Amortization of property "step up" to fair value (1) 603 735 COVID-19 incremental costs (4) 8,670 — Restructuring charges (5) 166 2,307 Total operating income $ 114,001 $ 110,088 (1) For more information regarding our recent acquisitions and divestitures refer to our Annual Report on Form 10-K for the year ended March 31, 2020 , dated May 29, 2020 . (2) Acquisition and integration related charges include transaction costs and integration expenses associated with acquisitions. (3) Costs incurred in connection with the Redomiciliation. (4) COVID-19 incremental costs includes the additional costs attributable to COVID-19 such as enhanced cleaning protocols, personal protective equipment for our employees, event cancellation fees, and payroll costs associated with our response to COVID-19, net of any government subsidies available. (5) For more information regarding our restructuring efforts refer to Note 2 titled, "Restructuring". Additional information regarding our fiscal 2021 and fiscal 2020 first quarter revenue is disclosed in the following tables: Three Months Ended June 30, 2020 2019 Healthcare: Consumables $ 83,754 $ 116,082 Capital equipment 128,082 120,855 Service 187,822 208,795 Total Healthcare Revenues $ 399,658 $ 445,732 Applied Sterilization Technologies Service Revenues $ 152,362 $ 154,286 Life Sciences: Consumables $ 58,842 $ 44,029 Capital equipment 30,430 26,769 Service 27,640 25,987 Total Life Sciences Revenues $ 116,912 $ 96,785 Total Revenues $ 668,932 $ 696,803 Three Months Ended June 30, 2020 2019 Revenues: Ireland $ 14,373 $ 15,108 United States 491,708 511,152 Other locations 162,851 170,543 Total Revenues $ 668,932 $ 696,803 Assets include the current and long-lived assets directly attributable to the segment based on the management of the location or on utilization. Certain corporate assets were allocated to the reportable segments based on revenues. Assets attributed to sales and distribution locations are only allocated to the Healthcare and Life Sciences segments. Individual facilities, equipment, and intellectual properties are utilized for production by both the Healthcare and Life Sciences segments at varying levels over time. As a result, an allocation of total assets, capital expenditures, and depreciation and amortization is not meaningful to the individual performance of the Healthcare and Life Sciences segments. Therefore, their respective amounts are reported together. June 30, 2020 March 31, 2020 Assets: Healthcare and Life Sciences $ 2,607,490 $ 2,705,377 Applied Sterilization Technologies 2,756,437 2,720,205 Total assets $ 5,363,927 $ 5,425,582

Shares and Preferred Shares (No

Shares and Preferred Shares (Notes)	3 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	Ordinary shares 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 June 30, Denominator (shares in thousands): 2020 2019 Weighted average shares outstanding—basic 84,959 84,638 Dilutive effect of share equivalents 717 928 Weighted average shares outstanding and share equivalents—diluted 85,676 85,566 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 June 30, (shares in thousands) 2020 2019 Number of share options 330 122 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)	3 Months Ended
	Jun. 30, 2020
Notes To Financial Statements [Abstract]
Repurchases of shares	Repurchases of Ordinary Shares On May 7, 2019, our Board of Directors authorized a share repurchase program resulting in a share repurchase authorization of approximately $78,979 (net of taxes, fees and commissions). On July 30, 2019, our Board of Directors approved an increase in the May 7, 2019 authorization of an additional amount of $300,000 (net of taxes, fees and commissions). As of June 30, 2020, there was approximately $333,932 (net of taxes, fees and commissions) of remaining availability under a Board authorized share repurchase program. The share repurchase program has no specified expiration date. Under the authorization, the Company may repurchase its shares from time to time through open market purchases, including 10b5-1 plans. Any share repurchases may be activated, suspended or discontinued at any time. Due to the uncertainty surrounding the COVID-19 pandemic, share repurchases were suspended on April 9, 2020. During the first three months of fiscal 2021 through April 9, 2020, we repurchased 35,000 of our ordinary shares for the aggregate amount of $5,047 (net of fees and commissions) pursuant to the authorizations. During the first three months of fiscal 2020, we repurchased 60,000 of our ordinary shares for the aggregate amount of $8,612 (net of fees and commissions) pursuant to the authorizations. During the first three months of fiscal 2021 we obtained 63,150 of our ordinary shares in the aggregate amount of $9,248 in connection with share based compensation award programs. During the first three months of fiscal 2020, we obtained 66,745 of our ordinary shares in the aggregate amount of $7,446

Share-Based Compensation (Notes

Share-Based Compensation (Notes)	3 Months Ended
	Jun. 30, 2020
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 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 option 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 June 30, 2020 , 3,554,149 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 three months of fiscal 2021 and 2020: Fiscal 2021 Fiscal 2020 Risk-free interest rate 0.46 % 2.27 % Expected life of options 6.0 years 6.2 years Expected dividend yield of stock 0.96 % 1.23 % Expected volatility of stock 23.04 % 20.27 % 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 2.78% and 2.77% was applied in fiscal 2021 and 2020 , 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 Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at March 31, 2020 1,796,126 $ 91.29 Granted 278,364 182.22 Exercised (96,435 ) 59.65 Forfeited (1,951 ) 97.56 Outstanding at June 30, 2020 1,976,104 $ 105.64 7.2 years $ 102,472 Exercisable at June 30, 2020 1,173,669 $ 79.79 6.0 years $ 86,437 We estimate that 772,889 of the non-vested stock options outstanding at June 30, 2020 will ultimately vest. The aggregate intrinsic value in the table above represents the total pre-tax difference between the $153.44 closing price of our ordinary shares on June 30, 2020 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 three months of fiscal 2021 and fiscal 2020 was $9,581 and $18,843 , respectively. Net cash proceeds from the exercise of stock options were $5,367 and $9,899 for the first three months of fiscal 2021 and fiscal 2020 , respectively. The weighted average grant date fair value of stock option grants was $27.44 and $23.19 for the first three months of fiscal 2021 and fiscal 2020 , 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 June 30, 2020 and 2019 was $493 and $610 , 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, 2020 575,830 30,894 $ 98.07 Granted 129,495 5,952 165.30 Vested (152,741 ) (7,857 ) 80.34 Forfeited (4,011 ) — 100.80 Non-vested at June 30, 2020 548,573 28,989 $ 118.80 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 three months of fiscal 2021 was $12,902 . As of June 30, 2020 , there was a total of $63,875 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 2.4 years .

Financial and Other Guarantees(

Financial and Other Guarantees(Notes)	3 Months Ended
	Jun. 30, 2020
Product Warranties Disclosures [Abstract]
Commitments Contingencies and Guarantees [Text Block]	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. 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, 2020 dated May 29, 2020 : Item 1 titled “Business - Information with respect to our Business in General - Government Regulation”, and the “Risk Factors” in Item 1A titled "Product related regulations and claims". 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.
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 three months of fiscal 2021 were as follows: Warranties Balance, March 31, 2020 $ 7,381 Warranties issued during the period 2,234 Settlements made during the period (2,613 ) Balance, June 30, 2020 $ 7,002

Derivatives and Hedging (Notes)

Derivatives and Hedging (Notes)	3 Months Ended
	Jun. 30, 2020
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 first quarter of fiscal 2021, we also entered into forward foreign currency contracts in order 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 2021. 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 June 30, 2020 , we held foreign currency forward contracts to buy 99.0 million Mexican pesos, 6.3 million Canadian dollars; and to sell 11.3 million euros. At June 30, 2020 we held commodity swap contracts to buy 536.4 thousand pounds of nickel. Asset Derivatives Liability Derivatives Fair Value at Fair Value at Fair Value at Fair Value at Balance sheet location June 30, 2020 March 31, 2020 June 30, 2020 March 31, 2020 Prepaid & Other $ 451 $ 124 $ — $ — Accrued expenses and other $ — $ — $ 777 $ 912 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 June 30, 2020 2019 Foreign currency forward contracts Selling, general and administrative $ 143 $ 406 Commodity swap contracts Cost of revenues $ 364 $ (127 ) 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 $46,698 at June 30, 2020 . 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)	3 Months Ended
	Jun. 30, 2020
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 June 30, 2020 and March 31, 2020 : 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 June 30, March 31, June 30, March 31, June 30, March 31, June 30, March 31, Assets: Cash and cash equivalents $ 255,627 $ 319,581 $ 255,627 $ 319,581 $ — $ — $ — $ — Forward and swap contracts (1) 451 124 — — 451 124 — — Equity investments (2) 9,979 9,624 9,979 9,624 — — — — — — Other investments 2,550 2,507 2,550 2,507 — — — — Liabilities: Forward and swap contracts (1) $ 777 $ 912 $ — $ — $ 777 $ 912 $ — $ — Deferred compensation plans (2) 1,630 1,475 1,630 1,475 — — — — Total debt (3) 1,057,156 1,150,521 — — 1,095,965 1,143,978 — — Contingent consideration obligations (4) 15,976 15,988 — — — — 15,976 15,988 (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 first quarter of fiscal 2021 and 2020, we recorded a gains (losses) of $309 and $(1,758) , respectively, related to these investments. (3) We estimate the fair value of our 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 June 30, 2020 are summarized as follows: Contingent Consideration Balance at March 31, 2020 $ 15,988 Additions 111 Payments (21 ) Currency translation adjustments (102 ) Balance at June 30, 2020 $ 15,976

Reclassifications out of Accumu

Reclassifications out of Accumulated Other Comprehensive Income Reclassification out of Accumulated Other Comprehensive Income (Notes)	3 Months Ended
	Jun. 30, 2020
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 June 30, 2020 and 2019 were as follows: Defined Benefit Plans (1) Currency Translation (2) Total Accumulated Other Comprehensive Income (Loss) Balance at March 31, 2020 $ (6,813 ) $ (228,650 ) $ (235,463 ) Other Comprehensive (Loss) Income before reclassifications 318 27,619 27,937 Amounts reclassified from Accumulated Other Comprehensive (Loss) Income (828 ) — (828 ) Net current-period Other Comprehensive (Loss) Income (510 ) 27,619 27,109 Balance at June 30, 2020 $ (7,323 ) $ (201,031 ) $ (208,354 ) (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. Defined Benefit Plans (1) Currency Translation (2) Total Accumulated Other Comprehensive Income (Loss) Balance at March 31, 2019 $ (4,204 ) $ (155,574 ) $ (159,778 ) Other Comprehensive Income (Loss) before reclassifications 190 3,439 3,629 Amounts reclassified from Accumulated Other Comprehensive (Loss) (695 ) — (695 ) Net current-period Other Comprehensive (Loss) (505 ) 3,439 2,934 Balance at June 30, 2019 $ (4,709 ) $ (152,135 ) $ (156,844 ) (1) 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.

Loans Receivable (Notes)

Loans Receivable (Notes)	3 Months Ended
	Jun. 30, 2020
Receivables [Abstract]
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	17. Loans Receivable In connection with an equity investment of $4,955 , we agreed to provide a credit facility of up to approximately $11,000 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 $7,316 at June 30, 2020 and $7,084 at March 31, 2020. 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 $8,210 (or €7,300 ) at June 30, 2020 and $8,072 (or €7,300 ) at March 31, 2020.

Restructuring (Notes)

Restructuring (Notes)	3 Months Ended
	Jun. 30, 2020
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 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 $44,017 related to these restructuring actions, of which $31,826 was recorded as restructuring expenses and $12,191 was recorded in cost of revenues, with a total of $33,819 , $7,798 and $668 related to the Healthcare, Applied Sterilization Technologies and Life Sciences segments, respectively. Corporate related restructuring charges were $1,732 . Additional restructuring expenses related to this plan are not expected to be material to our results of operations. 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 remaining liability balances at June 30, 2020 and March 31, 2020 are not material. For more information relating to our restructuring efforts, please refer to our Annual Report on Form 10-K for the year ended March 31, 2020 , dated May 29, 2020

COVID-19 Pandemic (Notes)

COVID-19 Pandemic (Notes)	3 Months Ended
	Jun. 30, 2020
Statement of Financial Position [Abstract]
COVID-19 Pandemic [Text Block]	COVID-19 Pandemic The COVID-19 pandemic began to impact our business late in fiscal 2020. The pandemic and related public health recommendations and mandated precautions to mitigate the spread of COVID-19, including deferral of medical procedures and treatments and shelter-in-place orders or similar measures, have negatively affected and are expected to continue to negatively affect some of our operations, which may impact our financial position and cash flows. We have experienced and expect to continue to experience unpredictable fluctuations in demand for certain of our products and services, including some products and services that are experiencing increased demand. To date, we do not believe that the COVID-19 pandemic has had a significant impact on our operations, as we have been able to continue to operate our manufacturing facilities and meet the demand for essential products and services of our Customers. In response to the pandemic, we have implemented several measures that we believe will help us to protect the health and safety of our employees, preserve liquidity and enhance our financial flexibility. For our employees, we allowed employees to work remotely when possible and have implemented additional safety measures in compliance with applicable regulations to allow personnel to continue to work in our facilities. We suspended all non-essential travel and enacted a temporary hiring freeze on certain positions. To manage liquidity, we have suspended our stock repurchase program and deferred certain planned capital expenditures; however, we have continued to invest in expansion projects as planned. We do not believe that these actions will negatively impact our long-term ability to generate revenues or meet existing and future financial obligations. While we expect this situation to have an impact on our business, the full impact to our results of operations and financial position cannot be reasonably estimated at this time. For additional information and our risk factors related to the COVID-19 pandemic, please refer to our Annual Report on Form 10-K for the year ended March 31, 2020 dated May 29, 2020.

Nature of Operations and Summ_2

Nature of Operations and Summary of Significant Accounting Policies Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2020
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 month period ended June 30, 2020 are not necessarily indicative of results that may be expected for future quarters or for the full fiscal year ending March 31, 2021.
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 been adopted in fiscal 2021 ASU 2016-13, "Measurement of Credit Losses on Financial Instruments" June 2016 The standard required 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 was effective for annual periods beginning after December 15, 2019. First Quarter Fiscal 2021 We adopted this standard effective April 1, 2020 with no material impact to 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 modified 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 was effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. First Quarter Fiscal 2021 We adopted this standard effective April 1, 2020 with no 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 modified 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 clarified disclosure requirements for defined benefit pension plans relating to the projected benefit obligation and accumulated benefit obligation. The standard was effective for fiscal years ending after December 15, 2019. First Quarter Fiscal 2021 We adopted this standard effective April 1, 2020 with no 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 aligned 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 was effective for fiscal years beginning after December 15, 2019. First Quarter Fiscal 2021 We adopted this standard on April 1, 2020 using the prospective method. The adoption of this standard did not have a material impact on our consolidated financial statements and disclosures. Standards that have not yet been adopted ASU 2019-12 "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 beginning 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. At the time of adoption, certain of our capital equipment contracts were comprised of a single integrated performance obligation, which resulted in the deferral of the corresponding capital equipment revenue and cost of revenues until installation was complete. Since the adoption of the standard, there have been changes made in our selling philosophy, product architecture, and manufacturing processes with respect to this product line, that impact whether the promises to transfer the individual goods or services to the Customer are separately identifiable from other promises in the contract. After review of these changes, we have concluded that these contracts consist of multiple performance obligations that are capable of being distinct and meet the criteria for revenue to be recognized when the Customer obtains control of the asset, which is upon delivery of each performance obligation. Revenues and costs of revenues related to these contracts totaling $14,609 and $7,560 , respectively, that had previously been deferred were recognized in our fiscal 2021 first quarter. 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 June 30, 2020, 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 capital equipment products is deferred until installation is complete if the capital equipment and installation are highly integrated and form a single performance obligation. Service Revenue Within our Healthcare 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 Group Purchasing Organization ("GPO") agreement. For maintenance, repair and installation of capital equipment, revenue is recognized upon completion of the service. Healthcare service revenues also include 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. 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 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 three months of fiscal 2021, $30,804 of the March 31, 2020 deferred revenue balance was recorded as revenue. During the first three months of fiscal 2020, $39,484 of the March 31, 2019 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 preventive 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 June 30, 2020, the transaction price allocated to remaining performance obligations was approximately $930,000 . We expect to recognize approximately 48% of the transaction price within one year and approximately 46% beyond one year. The remainder has yet to be scheduled for delivery.

Inventories, Net Inventories, N

Inventories, Net Inventories, Net (Tables)	3 Months Ended
	Jun. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory costs include material, labor, and overhead. Inventories, net consisted of the following: June 30, March 31, Raw materials $ 104,557 $ 94,321 Work in process 40,833 35,643 Finished goods 167,277 151,381 LIFO reserve (18,753 ) (16,937 ) Reserve for excess and obsolete inventory (16,944 ) (16,149 ) Inventories, net $ 276,970 $ 248,259

Property, Plant and Equipment P

Property, Plant and Equipment Property, Plant and Equipment (Tables)	3 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Information related to the major categories of our depreciable assets is as follows: June 30, March 31, Land and land improvements (1) $ 66,390 $ 65,994 Buildings and leasehold improvements 534,095 531,267 Machinery and equipment 692,188 682,488 Information systems 180,378 181,112 Radioisotope 524,356 508,593 Construction in progress (1) 198,600 159,731 Total property, plant, and equipment 2,196,007 2,129,185 Less: accumulated depreciation and depletion (1,047,955 ) (1,017,330 ) Property, plant, and equipment, net $ 1,148,052 $ 1,111,855 (1) Land is not depreciated. Construction in progress is not depreciated until placed in service.

Debt Debt (Tables)

Debt Debt (Tables)	3 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Schedule of Debt	Indebtedness was as follows: June 30, March 31, Short term debt Private Placement $ 35,000 $ — Total short term debt $ 35,000 $ — Long term debt Credit Agreement $ 180,574 $ 275,449 Private Placement 844,765 878,409 Deferred financing costs (3,183 ) (3,337 ) Total long term debt $ 1,022,156 $ 1,150,521 Total debt $ 1,057,156 $ 1,150,521

Additional Consolidated Balan_2

Additional Consolidated Balance Sheets Information Additional Consolidated Balance Sheets Information (Tables)	3 Months Ended
	Jun. 30, 2020
Notes To Financial Statements [Abstract]
Schedule of Accrued Liabilities [Table Text Block]	Additional information related to our Consolidated Balance Sheets is as follows: June 30, March 31, Accrued payroll and other related liabilities: Compensation and related items $ 45,787 $ 42,205 Accrued vacation/paid time off 10,899 9,917 Accrued bonuses 12,621 53,041 Accrued employee commissions 8,876 19,298 Other postretirement benefit obligations-current portion 1,488 1,488 Other employee benefit plans obligations-current portion 2,368 2,312 Total accrued payroll and other related liabilities $ 82,039 $ 128,261 Accrued expenses and other: Deferred revenues $ 39,975 $ 53,299 Service liabilities 45,423 47,505 Self-insured risk reserves-current portion 7,942 7,342 Accrued dealer commissions 18,841 15,827 Accrued warranty 7,002 7,381 Asset retirement obligation-current portion 908 2,671 Other 60,107 58,158 Total accrued expenses and other $ 180,198 $ 192,183 Other liabilities: Self-insured risk reserves-long-term portion $ 17,452 $ 17,452 Other postretirement benefit obligations-long-term portion 9,012 9,880 Defined benefit pension plans obligations-long-term portion 11,632 10,987 Other employee benefit plans obligations-long-term portion 2,371 2,333 Accrued long-term income taxes 11,991 11,959 Asset retirement obligation-long-term portion 11,120 9,843 Other 22,808 27,892 Total other liabilities $ 86,386 $ 90,346

Business Segment Information Bu

Business Segment Information Business Segment Information (Tables)	3 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	June 30, 2020 March 31, 2020 Assets: Healthcare and Life Sciences $ 2,607,490 $ 2,705,377 Applied Sterilization Technologies 2,756,437 2,720,205 Total assets $ 5,363,927 $ 5,425,582 Financial information for each of our segments is presented in the following table: Three Months Ended June 30, 2020 2019 Revenues: Healthcare $ 399,658 $ 445,732 Applied Sterilization Technologies 152,362 154,286 Life Sciences 116,912 96,785 Total revenues $ 668,932 $ 696,803 Operating income (loss): Healthcare $ 82,357 $ 90,515 Applied Sterilization Technologies 63,955 68,035 Life Sciences 48,461 33,039 Corporate (52,367 ) (55,397 ) Total operating income before adjustments $ 142,406 $ 136,192 Less: Adjustments Amortization of acquired intangible assets (1) $ 17,500 $ 16,949 Acquisition and integration related charges (2) 1,286 1,917 Redomiciliation and tax restructuring costs (3) 170 1,770 Net loss on divestiture of businesses (1) 10 2,426 Amortization of property "step up" to fair value (1) 603 735 COVID-19 incremental costs (4) 8,670 — Restructuring charges (5) 166 2,307 Total operating income $ 114,001 $ 110,088
Revenue from External Customers by Products and Services [Table Text Block]	Three Months Ended June 30, 2020 2019 Healthcare: Consumables $ 83,754 $ 116,082 Capital equipment 128,082 120,855 Service 187,822 208,795 Total Healthcare Revenues $ 399,658 $ 445,732 Applied Sterilization Technologies Service Revenues $ 152,362 $ 154,286 Life Sciences: Consumables $ 58,842 $ 44,029 Capital equipment 30,430 26,769 Service 27,640 25,987 Total Life Sciences Revenues $ 116,912 $ 96,785 Total Revenues $ 668,932 $ 696,803
Revenue from External Customers by Geographic Areas [Table Text Block]	Three Months Ended June 30, 2020 2019 Revenues: Ireland $ 14,373 $ 15,108 United States 491,708 511,152 Other locations 162,851 170,543 Total Revenues $ 668,932 $ 696,803

Shares and Preferred Shares Sha

Shares and Preferred Shares Shares and Preferred Shares (Tables)	3 Months Ended
	Jun. 30, 2020
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 June 30, Denominator (shares in thousands): 2020 2019 Weighted average shares outstanding—basic 84,959 84,638 Dilutive effect of share equivalents 717 928 Weighted average shares outstanding and share equivalents—diluted 85,676 85,566
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 June 30, (shares in thousands) 2020 2019 Number of share options 330 122

Share-Based Compensation Share-

Share-Based Compensation Share-Based Compensation (Tables)	3 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule of Assumptions Used	The following weighted-average assumptions were used for options granted during the first three months of fiscal 2021 and 2020: Fiscal 2021 Fiscal 2020 Risk-free interest rate 0.46 % 2.27 % Expected life of options 6.0 years 6.2 years Expected dividend yield of stock 0.96 % 1.23 % Expected volatility of stock 23.04 % 20.27 %
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 Average Remaining Contractual Term Aggregate Intrinsic Value Outstanding at March 31, 2020 1,796,126 $ 91.29 Granted 278,364 182.22 Exercised (96,435 ) 59.65 Forfeited (1,951 ) 97.56 Outstanding at June 30, 2020 1,976,104 $ 105.64 7.2 years $ 102,472 Exercisable at June 30, 2020 1,173,669 $ 79.79 6.0 years $ 86,437
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, 2020 575,830 30,894 $ 98.07 Granted 129,495 5,952 165.30 Vested (152,741 ) (7,857 ) 80.34 Forfeited (4,011 ) — 100.80 Non-vested at June 30, 2020 548,573 28,989 $ 118.80

Financial and Other Guarantees

Financial and Other Guarantees Financial and Other Gurantees (Tables)	3 Months Ended
	Jun. 30, 2020
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	Changes in our warranty liability during the first three months of fiscal 2021 were as follows: Warranties Balance, March 31, 2020 $ 7,381 Warranties issued during the period 2,234 Settlements made during the period (2,613 ) Balance, June 30, 2020 $ 7,002

Derivatives and Hedging Derivat

Derivatives and Hedging Derivatives and Hedging (Tables)	3 Months Ended
	Jun. 30, 2020
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 June 30, 2020 March 31, 2020 June 30, 2020 March 31, 2020 Prepaid & Other $ 451 $ 124 $ — $ — Accrued expenses and other $ — $ — $ 777 $ 912
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 June 30, 2020 2019 Foreign currency forward contracts Selling, general and administrative $ 143 $ 406 Commodity swap contracts Cost of revenues $ 364 $ (127 )

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements (Tables)	3 Months Ended
	Jun. 30, 2020
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 June 30, 2020 and March 31, 2020 : 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 June 30, March 31, June 30, March 31, June 30, March 31, June 30, March 31, Assets: Cash and cash equivalents $ 255,627 $ 319,581 $ 255,627 $ 319,581 $ — $ — $ — $ — Forward and swap contracts (1) 451 124 — — 451 124 — — Equity investments (2) 9,979 9,624 9,979 9,624 — — — — — — Other investments 2,550 2,507 2,550 2,507 — — — — Liabilities: Forward and swap contracts (1) $ 777 $ 912 $ — $ — $ 777 $ 912 $ — $ — Deferred compensation plans (2) 1,630 1,475 1,630 1,475 — — — — Total debt (3) 1,057,156 1,150,521 — — 1,095,965 1,143,978 — — Contingent consideration obligations (4) 15,976 15,988 — — — — 15,976 15,988 (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 first quarter of fiscal 2021 and 2020, we recorded a gains (losses) of $309 and $(1,758) , respectively, related to these investments. (3) We estimate the fair value of our 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 June 30, 2020 are summarized as follows: Contingent Consideration Balance at March 31, 2020 $ 15,988 Additions 111 Payments (21 ) Currency translation adjustments (102 ) Balance at June 30, 2020 $ 15,976

Reclassifications out of Accu_2

Reclassifications out of Accumulated Other Comprehensive Income Reclassification out of Accumulated Other Comprehensive Income (Tables)	3 Months Ended
	Jun. 30, 2020
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 June 30, 2020 and 2019 were as follows: Defined Benefit Plans (1) Currency Translation (2) Total Accumulated Other Comprehensive Income (Loss) Balance at March 31, 2020 $ (6,813 ) $ (228,650 ) $ (235,463 ) Other Comprehensive (Loss) Income before reclassifications 318 27,619 27,937 Amounts reclassified from Accumulated Other Comprehensive (Loss) Income (828 ) — (828 ) Net current-period Other Comprehensive (Loss) Income (510 ) 27,619 27,109 Balance at June 30, 2020 $ (7,323 ) $ (201,031 ) $ (208,354 ) (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. Defined Benefit Plans (1) Currency Translation (2) Total Accumulated Other Comprehensive Income (Loss) Balance at March 31, 2019 $ (4,204 ) $ (155,574 ) $ (159,778 ) Other Comprehensive Income (Loss) before reclassifications 190 3,439 3,629 Amounts reclassified from Accumulated Other Comprehensive (Loss) (695 ) — (695 ) Net current-period Other Comprehensive (Loss) (505 ) 3,439 2,934 Balance at June 30, 2019 $ (4,709 ) $ (152,135 ) $ (156,844 ) (1) Amortization (gain) of defined benefit pension items is reported in the Interest income and miscellaneous expense line of our Consolidated Statements of Income. (2)

Nature of Operations and Summ_3

Nature of Operations and Summary of Significant Accounting Policies Revenue Intial Application period (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Property, Plant and Equipment [Line Items]
Deferred Revenue, Revenue Recognized	$ 30,804	$ 39,484

Nature of Operations and Summ_4

Nature of Operations and Summary of Significant Accounting Policies Revenue Table (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020	Mar. 31, 2019
Recognition of Deferred Revenue	$ 14,609
Assets	5,363,927		$ 5,425,582
Deferred Revenue, Revenue Recognized	30,804	$ 39,484
Deferred Cost of Revenues, Recognized in Period	7,560
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	3,489,713	$ 3,245,002	3,406,724	$ 3,185,798
Liabilities	1,874,214		2,018,858
Accounts Receivable, after Allowance for Credit Loss, Current	503,172		586,481
Inventory, Net	276,970		248,259
Other Prepaid Expense, Current	61,359		54,430
Accrued Liabilities, Current	180,198		192,183
Retained Earnings (Accumulated Deficit)	1,699,971		$ 1,647,175
Revenue, Remaining Performance Obligation, Amount	$ 930,000
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	46.00%

Business Acquisitions and Dives

Business Acquisitions and Divestitures Fiscal 2017 Acquisitions (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020
Business Acquisition [Line Items]
Revenues	$ 668,932	$ 696,803
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Goodwill	$ 2,371,789		$ 2,356,085

Business Acquisitions and Div_2

Business Acquisitions and Divestitures Fiscal 2017 Divestitures (Details) - USD ($) $ in Thousands		3 Months Ended
		Jun. 30, 2020	Jun. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues		$ 668,932	$ 696,803
Pre-tax gain or loss on sale of business	[1]	$ 10	$ 2,426
[1]	For more information regarding our recent acquisitions and divestitures refer to our Annual Report on Form 10-K for the year ended March 31, 2020 , dated May 29, 2020 .

Inventories, Net Inventories,_2

Inventories, Net Inventories, Net (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Raw materials	$ 104,557	$ 94,321
Work in process	40,833	35,643
Finished goods	167,277	151,381
LIFO reserve	(18,753)	(16,937)
Reserve for excess and obsolete inventory	(16,944)	(16,149)
Inventories, net	$ 276,970	$ 248,259

Property, Plant and Equipment_2

Property, Plant and Equipment Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Property, Plant and Equipment [Line Items]
Land and land improvements	$ 66,390	$ 65,994
Buildings and leasehold improvements	534,095	531,267
Machinery and equipment	692,188	682,488
Information systems	180,378	181,112
Radioisotope	524,356	508,593
Construction in progress	198,600	159,731
Total property, plant, and equipment	2,196,007	2,129,185
Less: accumulated depreciation and depletion	(1,047,955)	(1,017,330)
Property, plant, and equipment, net	$ 1,148,052	$ 1,111,855

Debt Debt (Details)

Debt Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Debt Instrument [Line Items]
Short-term Debt	$ 35,000	$ 0
Private Placement	844,765	878,409
Deferred financing costs	3,183	3,337
Credit Agreement	180,574	275,449
Total long term debt	1,022,156	1,150,521
Debt, Long-term and Short-term, Combined Amount	$ 1,057,156	$ 1,150,521

Additional Consolidated Balan_3

Additional Consolidated Balance Sheets Information Additional Consolidated Balance Sheets Information (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Accrued payroll and other related liabilities:
Compensation and related items	$ 45,787	$ 42,205
Accrued vacation/paid time off	10,899	9,917
Accrued bonuses	12,621	53,041
Accrued employee commissions	8,876	19,298
Other postretirement benefit obligations-current portion	1,488	1,488
Other employee benefit plans obligations-current portion	2,368	2,312
Total accrued payroll and other related liabilities	82,039	128,261
Accrued expenses and other:
Deferred revenues	39,975	53,299
Service liabilities	45,423	47,505
Self-insured risk reserves-current portion	7,942	7,342
Accrued dealer commissions	18,841	15,827
Accrued warranty	7,002	7,381
Asset retirement obligation-current portion	908	2,671
Other	60,107	58,158
Total accrued expenses and other	180,198	192,183
Other liabilities:
Self-insured risk reserves-long-term portion	17,452	17,452
Other postretirement benefit obligations-long-term portion	9,012	9,880
Defined benefit pension plans obligations-long-term portion	11,632	10,987
Other employee benefit plans obligations-long-term portion	2,371	2,333
Accrued long-term income taxes	11,991	11,959
Asset retirement obligation-long-term portion	11,120	9,843
Long-term liabilities, other	22,808	27,892
Other Liabilities, Noncurrent	$ 86,386	$ 90,346

Income Tax Expense Income Tax E

Income Tax Expense Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Effective Income Tax Rate, Continuing Operations	17.50%	14.70%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		21.00%
Uncertain Tax Liability Resulting From IRS Notice	$ 40,000

Contingencies Leases (Details)

Contingencies Leases (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Loss Contingencies [Line Items]
Capital Lease Obligations, Current	$ 20,575	$ 19,809
Capital Lease Obligations, Noncurrent	125,151	114,114
Operating Lease, Right-of-Use Asset	$ 143,463	$ 131,837

Business Segment Information _2

Business Segment Information Business Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020
Segment Reporting Information [Line Items]
Assets		$ 5,363,927		$ 5,425,582
Revenues		668,932	$ 696,803
Segment operating income		114,001	110,088
Restructuring Charges	[1]	166	2,307
Amortization of acquired intangible assets	[2]	17,500	16,949
Business Combination, Acquisition Related Costs	[3]	1,286	1,917
Impact of TCJA	[4]	170	1,770
Net loss on divestiture of businesses	[2]	10	2,426
Amortization of inventory and property step-up to fair value	[2]	603	735
COVID-19 incremental costs	[5]	8,670	0
Healthcare Products
Segment Reporting Information [Line Items]
Revenues		399,658	445,732
Segment operating income		82,357	90,515
Restructuring Charges		33,819
Healthcare Specialty Services
Segment Reporting Information [Line Items]
Assets		2,607,490		2,705,377
Life Sciences
Segment Reporting Information [Line Items]
Revenues		116,912	96,785
Segment operating income		48,461	33,039
Restructuring Charges		668
Applied Sterilization Technologies
Segment Reporting Information [Line Items]
Assets		2,756,437		$ 2,720,205
Revenues		152,362	154,286
Segment operating income		63,955	68,035
Restructuring Charges		7,798
Corporate
Segment Reporting Information [Line Items]
Segment operating income		(52,367)	(55,397)
Segment operating income
Segment Reporting Information [Line Items]
Revenues		668,932	696,803
Segment operating income		142,406	136,192
Other foreign locations [Member]
Segment Reporting Information [Line Items]
Revenues		162,851	170,543
UNITED STATES
Segment Reporting Information [Line Items]
Revenues		491,708	511,152
UNITED KINGDOM
Segment Reporting Information [Line Items]
Revenues		14,373	15,108
Consumable revenues [Member] | Healthcare Products
Segment Reporting Information [Line Items]
Revenues		83,754	116,082
Consumable revenues [Member] | Life Sciences
Segment Reporting Information [Line Items]
Revenues		58,842	44,029
Sales Revenue, Services, Net [Member] | Healthcare Products
Segment Reporting Information [Line Items]
Revenues		187,822	208,795
Sales Revenue, Services, Net [Member] | Life Sciences
Segment Reporting Information [Line Items]
Revenues		27,640	25,987
Capital equipment revenues [Member] | Healthcare Products
Segment Reporting Information [Line Items]
Revenues		128,082	120,855
Capital equipment revenues [Member] | Life Sciences
Segment Reporting Information [Line Items]
Revenues		$ 30,430	$ 26,769
[1]	For more information regarding our restructuring efforts refer to Note 2 titled, "Restructuring".
[2]	For more information regarding our recent acquisitions and divestitures refer to our Annual Report on Form 10-K for the year ended March 31, 2020 , dated May 29, 2020 .
[3]	Acquisition and integration related charges include transaction costs and integration expenses associated with acquisitions.
[4]	(3)
[5]	COVID-19 incremental costs includes the additional costs attributable to COVID-19 such as enhanced cleaning protocols, personal protective equipment for our employees, event cancellation fees, and payroll costs associated with our response to COVID-19, net of any government subsidies available.

Shares and Preferred Shares Ord

Shares and Preferred Shares Ordinary Shares (Details)	3 Months Ended
	Jun. 30, 2020$ / sharesshares	Jun. 30, 2019shares	Jun. 30, 2020EUR (€)shares	Mar. 31, 2020$ / shares
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Weighted average shares outstanding - basic	84,959,000	84,638,000
Dilutive effect of share equivalents	717,000	928,000
Weighted average shares outstanding and share equivalents - diluted	85,676,000	85,566,000
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
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 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	330,000	122,000
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)	Jun. 30, 2020$ / shares
Class of Stock [Line Items]
Preferred shares, par value	$ 0.001

Repurchases of Shares Repurchas

Repurchases of Shares Repurchases of Shares (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jul. 30, 2019	May 07, 2019
Equity, Class of Treasury Stock [Line Items]
Share repurchase program, number of shares authorized	$ 333,932		$ 300,000	$ 78,979
Shares repurchased during period, number	35,000	60,000
Aggregate value of shares repurchased pursuant to authorization	$ 5,047	$ 8,612
Shares obtained in connection with share based compensation award programs	63,150	66,745
Payments for shares obtained in connection with share based compensation programs	$ 9,248	$ 7,446

Share-Based Compensation Shar_2

Share-Based Compensation Share-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Item]
Remaining shares available for grant	3,554,149
Weighted-average assumptions used for options granted:
Risk-free interest rate	0.46%	2.27%
Expected life of options	6 years	6 years 2 months 12 days
Exptected dividend yield of stock	0.96%	1.23%
Expected volatility of stock	23.04%	20.27%
Estimated forfeiture rate	2.78%	2.77%
Summary of share option activity:
Outstanding at March 31, 2017	1,796,126
Granted	278,364
Exercised	(96,435)
Forfeited	(1,951)
Outstanding at June 30, 2017	1,976,104
Exercisable at June 30, 2017	1,173,669
Weighted average exercise price:
Outstanding at March 31, 2017	$ 91.29
Granted	182.22
Exercised	59.65
Forfeited	97.56
Outstanding at June 30, 2017	105.64
Exercisable at June 30, 2017	$ 79.79
Average Remaining Contractual Term, Outstanding at June 30, 2017	7 years 2 months 12 days
Aggregate Intrinsic Value, Outstanding at June 30, 2017	$ 102,472
Average Remaining Contractual Term, Exercisable at June 30, 2017	6 years
Aggregate Intrinsic Value, Exercisable at June 30, 2017	$ 86,437
Non-vested stock options outstanding expected to vest	772,889
Ordinary shares, closing price	$ 153.44
Total intrinsic value of stock options exercised	$ 9,581	$ 18,843
Net cash proceeds from the exercise of stock options	$ 5,367	$ 9,899
Weighted average grant date fair value of stock option grants, per share	$ 27.44	$ 23.19
Summary of non-vested restricted share activity:
Unrecognized compensation cost related to nonvested share-based compensation granted	$ 63,875
Weighted Average Period For Total Compensation Expense Not Yet Recognized	2 years 4 months 24 days
Stock Appreciation Rights (SARs) [Member]
Weighted average exercise price:
FairValueOfOutstandingStockAppreciationRights	$ 493	$ 610
Restricted Stock
Summary of non-vested restricted share activity:
Number of Restricted Shares, Non-vested at Beginning of Period	575,830
Weighted-Average Grant Date Fair Value, Non-vested at Beginning of Period	$ 98.07
Number of Restricted Shares, Granted	129,495
Weighted-Average Grant Date Fair Value, Granted	$ 165.30
Number of Restricted Shares, Vested	(152,741)
Weighted-Average Grant Date Fair Value, Vested	$ 80.34
Number of Restricted Shares, Canceled	(4,011)
Weighted-Average Grant Date Fair Value, Canceled	$ 100.80
Number of Restricted Shares, Non-vested at End of Period	548,573
Weighted-Average Grant Date Fair Value, Non-vested at End of Period	$ 118.80
Fair Value, Share-based Payment Awards, Other than Options	$ 12,902
Restricted Stock Units (RSUs)
Summary of non-vested restricted share activity:
Number of Restricted Shares, Non-vested at Beginning of Period	30,894
Number of Restricted Shares, Granted	5,952
Number of Restricted Shares, Vested	(7,857)
Number of Restricted Shares, Canceled	0
Number of Restricted Shares, Non-vested at End of Period	28,989

Financial and Other Guarantee_2

Financial and Other Guarantees Financial and Other Guarantees (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2020USD ($)
Product Warranty Liability [Line Items]
Balance, March 31, 2017	$ 7,381
Warranties issued during the period	2,234
Settlement made during the period	(2,613)
Balance, June 30, 2017	$ 7,002

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
	Jun. 30, 2020USD ($)lb	Jun. 30, 2020CAD ($)	Jun. 30, 2020MXN ($)	Jun. 30, 2020EUR (€)	Mar. 31, 2020USD ($)
Derivative [Line Items]
Non-derivative Net Investment Hedge	$ 46,698
Prepaid & Other
Derivative [Line Items]
Asset derivatives	451				$ 124
Liability derivatives	0				0
Accrued expenses and other
Derivative [Line Items]
Asset derivatives	0				0
Liability derivatives	$ 777				$ 912
Commodity swap contracts
Derivative [Line Items]
Derivative, notional amount, weight | lb	536,400
Mexican peso | Foreign currency forward contracts
Derivative [Line Items]
Liability derivatives			$ 99
Canadian dollar | Foreign currency forward contracts
Derivative [Line Items]
Liability derivatives		$ 6.3
euro | Foreign currency forward contracts
Derivative [Line Items]
Derivative, notional amount | €				€ 11.3

Derivatives and Hedging Gain (L

Derivatives and Hedging Gain (Loss) on Derivatives, Income Statement Location (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Foreign currency forward contracts | Selling, general, and administrative expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in income	$ (143)	$ (406)
Commodity swap contracts | Cost of revenues
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in income	$ 364	$ (127)

Fair Value Measurements Fair _2

Fair Value Measurements Fair Value Hierarchy (Details) - USD ($) $ in Thousands		3 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020	Jun. 30, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt and Equity Securities, Gain (Loss)		$ (309)	$ 1,758
Assets:
Investment Owned, at Cost					$ 4,955
Liabilities:
Contingent consideration obligations		15,976		$ 15,988
Level 1
Assets:
Cash and cash equivalents		255,627		319,581
Forward and swap contracts	[1]	0		0
Equity Securities, FV-NI	[2]	9,979		9,624
Investments		2,550		2,507
Liabilities:
Forward and swap contracts	[1]	0		0
Deferred compensation plans	[2]	1,630		1,475
Long term debt	[3]	0		0
Contingent consideration obligations	[4]	0		0
Level 2
Assets:
Cash and cash equivalents		0		0
Forward and swap contracts	[1]	451		124
Equity Securities, FV-NI	[2]	0
Investments		0		0
Liabilities:
Forward and swap contracts	[1]	777		912
Deferred compensation plans	[2]	0		0
Long term debt	[3]	1,095,965		1,143,978
Contingent consideration obligations	[4]	0		0
Level 3
Assets:
Cash and cash equivalents		0		0
Forward and swap contracts	[1]	0		0
Investments				0
Liabilities:
Forward and swap contracts	[1]	0		0
Deferred compensation plans	[2]	0		0
Long term debt	[3]	0		0
Contingent consideration obligations	[4]	15,976		15,988
Carrying Value
Assets:
Cash and cash equivalents		255,627		319,581
Forward and swap contracts	[1]	451		124
Equity Securities, FV-NI	[2]	9,979		9,624
Investments		2,550		2,507
Liabilities:
Forward and swap contracts	[1]	777		912
Deferred compensation plans	[2]	1,630		1,475
Long term debt	[3]	1,057,156		1,150,521
Contingent consideration obligations	[4]	$ 15,976		$ 15,988
[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 first quarter of fiscal 2021 and 2020, we recorded a gains (losses) of $309 and $(1,758) , respectively, related to these investments.
[3]	We estimate the fair value of our 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		3 Months Ended
		Jun. 30, 2020	Mar. 31, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration		$ 15,976	$ 15,988
Additions
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in contingent consideration		111
Payments
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in contingent consideration		(21)
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]	$ 15,976	15,988
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
	Jun. 30, 2020	Jun. 30, 2019
Debt Securities, Available-for-sale [Line Items]
Equity Securities, FV-NI, Gain (Loss)	$ 309	$ (1,758)

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
		Jun. 30, 2020		Jun. 30, 2019		Mar. 31, 2020		Mar. 31, 2019
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax		$ (208,354)		$ (156,844)		$ (235,463)		$ (159,778)
Other Comprehensive Income (Loss), Net of Tax		27,937		3,629
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		828		695
Other Comprehensive (Loss) Income, Net of Tax, Portion Attributable to Parent		(27,109)		(2,934)
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		7,323	[1]	4,709	[2]	6,813	[1]	4,204	[2]
Other Comprehensive Income (Loss), Net of Tax		(318)	[1]	(190)	[2]
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		828	[1]	695	[2]
Other Comprehensive (Loss) Income, Net of Tax, Portion Attributable to Parent		510	[1]	505	[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]	(201,031)		(152,135)		$ (228,650)		$ (155,574)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	[3]	27,619		3,439
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	[3]	0		0
Other Comprehensive (Loss) Income, Net of Tax, Portion Attributable to Parent	[3]	$ (27,619)		$ (3,439)
[1]	nts in Accumulated Other Comprehensive Income (Loss) are presented net of the related tax. Currency Translation is not adjusted for income taxes. Changes in our Accu
[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 (Details)

Loans Receivable (Details) € in Thousands, $ in Thousands	9 Months Ended	12 Months Ended
	Dec. 31, 2019	Mar. 31, 2017EUR (€)	Jun. 30, 2020USD ($)	Jun. 30, 2020EUR (€)	Mar. 31, 2020USD ($)	Mar. 31, 2020EUR (€)	Oct. 31, 2019EUR (€)	Jun. 30, 2019	Jun. 30, 2018USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investments									$ 4,955
Line of Credit Provide									$ 11,000
Financing Receivable, after Allowance for Credit Loss			$ 7,316		$ 7,084
Interest Rate Period	4 years	15 years
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%
Dutch Linen Loan [Domain]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other Receivables | €							€ 7,300
Financing Receivable, after Allowance for Credit Loss			$ 8,210	€ 7,300	$ 8,072	€ 7,300
Loan Agreement Max Borrowing Amount Dutch Linen Sale | €		€ 15,000

Restructuring (Details)

Restructuring (Details) $ in Thousands		3 Months Ended
		Jun. 30, 2020USD ($)plan	Jun. 30, 2019USD ($)
Restructuring and Related Cost, Expected Number of Positions Eliminated | plan		200
Restructuring expense incurred since Plan inception		$ 44,017
Restructuring Costs		166	$ 1,389
Restructuring Charges	[1]	166	$ 2,307
Operating Expense [Member]
Restructuring Charges		31,826
Cost of Goods and Service Benchmark [Member]
Restructuring Charges		12,191
Healthcare Products [Member] [Member]
Restructuring Charges		33,819
Applied Sterilization Technologies [Member]
Restructuring Charges		7,798
Life Science Member [Member]
Restructuring Charges		668
Corporate, Non-Segment [Member]
Restructuring Charges		$ 1,732
[1]	For more information regarding our restructuring efforts refer to Note 2 titled, "Restructuring".