STERIS (STE) 10-Q 8 Nov 21 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	6 Months Ended
	Sep. 30, 2021	Nov. 04, 2021
Entity Information [Line Items]
Entity Registrant Name	STERIS plc
Entity Central Index Key	0001757898
Document Type	10-Q
Document Period End Date	Sep. 30, 2021
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--03-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		100,023,002
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	001-38848
Entity Incorporation, State or Country Code	L2
Entity Tax Identification Number	98-1455064
Local Phone Number	1 232 2000
City Area Code	353
Document Transition Report	false
Document Quarterly Report	true
Entity Address, Address Line One	70 Sir John Rogerson's Quay,
Entity Address, City or Town	Dublin 2,
Entity Address, Country	IE
Entity Address, Postal Zip Code	D02 R296
Title of 12(b) Security	Ordinary Shares, $0.001 par value
Trading Symbol	STE
Security Exchange Name	NYSE
Entity Shell Company	false
STE Two700 Senior Notes Due2031 Member
Entity Information [Line Items]
Title of 12(b) Security	2.700% Senior Notes due 2031
Trading Symbol	STE/31
Security Exchange Name	NYSE
Two700 Senior Notes Due2051 Member
Entity Information [Line Items]
Title of 12(b) Security	3.750% Senior Notes due 2051
Trading Symbol	STE/51
Security Exchange Name	NYSE

CONSOLIDATED BALANCE SHEETS (un

CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Current assets:
Cash and cash equivalents	$ 383,494	$ 220,531
Accounts receivable (net of allowances of $18,410 and $11,355 respectively)	762,003	609,406
Inventories, net	564,532	315,067
Prepaid expenses and other current assets	194,598	66,750
Total current assets	1,904,627	1,211,754
Property, plant, and equipment, net	1,511,255	1,235,400
Operating Lease, Right-of-Use Asset	199,332	150,142
Goodwill	5,132,697	3,026,049
Intangible Assets, Net (Excluding Goodwill)	2,954,417	898,406
Other assets	50,120	52,720
Total assets	11,752,448	6,574,471
Current liabilities:
Accounts payable	219,255	156,950
Accrued income taxes	11,222	27,561
Accrued payroll and other related liabilities	187,473	150,078
Capital Lease Obligations, Current	36,939	22,774
Short-term Debt	21,875	0
Accrued expenses and other	308,937	220,557
Total current liabilities	785,701	577,920
Long-term indebtedness	3,421,506	1,650,540
Deferred Income Taxes and Other Tax Liabilities, Noncurrent	752,881	236,860
Capital Lease Obligations, Noncurrent	163,836	129,673
Other Liabilities, Noncurrent	83,593	88,010
Total liabilities	5,207,517	2,683,003
Commitments and contingencies (see Note 8)
Common shares, with $0.001 par value; 500,000 authorized; 99,911 shares issued; and 85,353 shares outstanding	4,748,181	2,002,825
Retained earnings	1,893,196	1,939,408
Accumulated other comprehensive income	(105,733)	(61,243)
Total shareholders' equity	6,535,644	3,880,990
Noncontrolling interest	9,287	10,478
Total equity	6,544,931	3,891,468
Total liabilities and equity	$ 11,752,448	$ 6,574,471

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Statement of Financial Position [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0.001
Common Stock, Shares Authorized	500,000
Common Stock, Shares, Outstanding	99,911	85,353
Allowance for Doubtful Accounts Receivable, Current	$ 18,410	$ 11,355

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	[1]	Sep. 30, 2021	Sep. 30, 2020
Revenues:
Revenues	$ 1,196,985	$ 756,132		$ 2,165,407	$ 1,425,064	[1]
Fair value adjustment related to convertible debt liability	4,883	0		27,806	0	[1]
Cost of revenues:
Total cost of revenues	716,641	426,095		1,258,781	807,643	[1]
Gross Profit	480,344	330,037		906,626	617,421	[1]
Operating expenses:
Selling, general, and administrative	344,799	172,707		738,551	327,878	[1]
Research and development	18,832	16,143		37,024	32,374	[1]
Restructuring Costs	210	(76)		224	90	[1]
Total operating expenses	363,841	188,774		775,799	360,342	[1]
Income from operations	116,503	141,263		130,827	257,079	[1]
Non-operating expenses, net:
Interest expense	23,036	8,665		44,848	18,157	[1]
Interest income and miscellaneous expense	(1,023)	(1,188)		(2,457)	(3,477)	[1]
Total non-operating expenses, net	26,896	7,477		70,197	14,680	[1]
Income before income tax expense	89,607	133,786		60,630	242,399	[1]
Income tax expense	19,982	27,778		12,907	46,860	[1]
Net Income	69,625	106,008		47,723	195,539	[1]
Less: Net Income Attributable to Noncontrolling Interest	(186)	150		(281)	84	[2]
Net income (loss) attributable to shareholders	$ 69,811	$ 105,858		$ 48,004	$ 195,455	[1]
Net income per common share [Abstract]
Basic	$ 0.70	$ 1.24		$ 0.51	$ 2.30	[1]
Diluted	0.69	1.23		0.50	2.28	[1]
Cash dividends declared per common share outstanding	$ 0.43	$ 0.40		$ 0.83	$ 0.77	[1]
Product [Member]
Revenues:
Revenues	$ 685,238	$ 339,504		$ 1,174,517	$ 640,612	[1]
Cost of revenues:
Cost of Goods and Services Sold	427,484	175,798		698,890	330,537	[1]
Service [Member]
Revenues:
Revenues	511,747	416,628		990,890	784,452	[1]
Cost of revenues:
Cost of Goods and Services Sold	$ 289,157	$ 250,297		$ 559,891	$ 477,106	[1]
[1]	Certain amounts have been adjusted to reflect the change in inventory accounting method, as described in our Annual Report on Form 10-K filed with the SEC on May 28, 2021.
[2]	Certain amounts have been adjusted to reflect the change in inventory accounting method, as described in our Annual Report on Form 10-K filed with the SEC on May 28, 2021.

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020		Sep. 30, 2021	Sep. 30, 2020
Net Income	$ 69,625	$ 106,008	[1]	$ 47,723	$ 195,539	[1]
Less: Net Income Attributable to Noncontrolling Interest	(186)	150	[1]	(281)	84	[2]
Net Income (Loss) Attributable to Parent	69,811	105,858	[1]	48,004	195,455	[1]
Other comprehensive (loss) income
Amortization of pension and postretirement benefits plans costs, (net of taxes of $174,$173,$348 and $347, respectively)	(507)	(510)	[1]	(1,014)	(1,020)	[2]
Change in cumulative foreign current translation adjustment	(68,409)	78,251	[2]	(43,476)	105,870	[2]
Total other comprehensive (loss) income	(68,916)	77,741	[1]	(44,490)	104,850	[1]
Comprehensive income	$ 895	$ 183,599	[2]	$ 3,514	$ 300,305	[2]
[1]	Certain amounts have been adjusted to reflect the change in inventory accounting method, as described in our Annual Report on Form 10-K filed with the SEC on May 28, 2021.
[2]	Certain amounts have been adjusted to reflect the change in inventory accounting method, as described in our Annual Report on Form 10-K filed with the SEC on May 28, 2021.

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Statement of Comprehensive Income [Abstract]
Amortization of pension and postretirement benefits plans costs, tax	$ 174	$ 173	$ 348	$ 347

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	[1]
Net Income	$ 47,723	$ 195,539
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, and amortization	201,663	103,372
Deferred income taxes	3,129	(524)
Share-based compensation	37,910	13,901
(Gain) loss on the disposal of property, plant, and equipment, and intangibles, net	537	178
Loss on sale of businesses, net	404	5
Fair value adjustment related to convertible debt liability	27,806	0
Amortization of inventory fair value adjustments	85,154	0
Other items	7,986	5,460
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable, net	15,932	88,134
Inventories, net	(57,897)	(27,080)
Other current assets	(66,337)	(355)
Accounts payable	(260)	(27,545)
Accruals and other, net	(34,984)	(55,012)
Net cash provided by operating activities	268,766	296,073
Investing activities:
Purchases of property, plant, equipment, and intangibles, net	(133,369)	(110,746)
Proceeds from the sale of property, plant, equipment, and intangibles	387	275
Acquisition of businesses, net of cash acquired	(547,353)	0
Payments for (Proceeds from) Other Investing Activities	0	(2,392)
Net cash used in investing activities	(680,335)	(112,863)
Financing activities:
Proceeds from Issuance of Senior Long-term Debt	1,350,000	0
Proceeds from Issuance of Secured Debt	650,000	0
Payments on long-term obligations	(721,284)	(35,000)
Repayments of Convertible Debt	(371,361)	0
Repayments of Secured Debt	(125,000)	0
Proceeds (Payments) under credit facilities, net	(65,021)	(107,162)
Deferred financing fees and debt issuance costs	(17,343)	0
Acquisition related deferred or contingent consideration	(25,262)	(42)
Repurchases of ordinary shares	(24,751)	(14,434)
Cash dividends paid to ordinary shareholders	(77,107)	(65,560)
Payments to Noncontrolling Interests	(997)	0
Proceeds from issuance of equity to minority shareholders	0	2,258
Proceeds from (Payments for) Other Financing Activities	7,829	20,621
Net cash used in financing activities	579,703	(199,319)
Effect of exchange rate changes on cash and cash equivalents	(5,171)	8,556
Increase (decrease) in cash and cash equivalents	162,963	(7,553)
Cash and cash equivalents at beginning of period	220,531	319,581
Cash and cash equivalents at end of period	$ 383,494	$ 312,028
[1]	Certain amounts have been adjusted to reflect the change in inventory accounting method, as described in our Annual Report on Form 10-K filed with the SEC on May 28, 2021.

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]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	[1]	$ 3,418,210		$ 12,848		$ (235,463)	$ 1,658,661	$ 1,982,164
Shares, Issued	[1]							84,924
Net Income (Loss) Attributable to Parent	[1]	195,455					195,455
Net Income (Loss) Attributable to Noncontrolling Interest		84	[2]	84	[1]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	[1]	195,539
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	[1]	104,850				104,850
Treasury Stock, Shares, Acquired	[1]							111
Payments for Repurchase of Common Stock	[1]	14,434					(11,215)	$ 25,649
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	[1]							438
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures	[1]	34,365						$ 34,365
Dividends, Common Stock, Cash	[1]	65,560					65,560
Increase (Decrease) In Noncontrolling Interests, Other	[1]	120		120
Noncontrolling Interest, Increase from Contributions to Noncontrolling Interest Holders	[1]	$ 2,258		2,258
Common Stock, Dividends, Per Share, Cash Paid		$ 0.77
Net Income (Loss) Attributable to Parent	[1]	$ 195,455					195,455
Net Income (Loss) Attributable to Noncontrolling Interest		84	[2]	84	[1]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	[1]	195,539
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	[1]	104,850				104,850
Treasury Stock, Shares, Acquired	[1]							(111)
Payments for Repurchase of Common Stock	[1]	(14,434)					11,215	$ (25,649)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	[1]							438
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures	[1]	34,365						$ 34,365
Dividends, Common Stock, Cash	[1]	(65,560)					(65,560)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	[1]	3,502,606		15,049		(208,354)	1,712,864	$ 1,983,047
Shares, Issued	[1]							85,060
Net Income (Loss) Attributable to Parent	[1]	105,858					105,858
Net Income (Loss) Attributable to Noncontrolling Interest	[1]	150		150
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	[1]	106,008
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	[1]	77,741				77,741
Treasury Stock, Shares, Acquired	[1]							13
Payments for Repurchase of Common Stock	[1]	138					(15,138)	$ 15,276
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	[1]							204
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures	[1]	23,109						$ 23,109
Dividends, Common Stock, Cash	[1]	34,089					34,089
Increase (Decrease) In Noncontrolling Interests, Other	[1]	$ 111		111
Common Stock, Dividends, Per Share, Cash Paid		$ 0.40
Net Income (Loss) Attributable to Parent	[1]	$ 105,858					105,858
Net Income (Loss) Attributable to Noncontrolling Interest	[1]	150		150
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	[1]	106,008
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	[1]	77,741				77,741
Treasury Stock, Shares, Acquired	[1]							(13)
Payments for Repurchase of Common Stock	[1]	(138)					15,138	$ (15,276)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	[1]							204
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures	[1]	23,109						$ 23,109
Dividends, Common Stock, Cash	[1]	(34,089)					(34,089)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	[1]	3,675,348
Stockholders' Equity Attributable to Parent	[1]					(130,613)	1,799,771	$ 1,990,880
Noncontrolling interest	[1]			15,310
Shares, Issued	[1]							85,251
Stockholders' Equity Attributable to Parent	[1]					(130,613)	1,799,771	$ 1,990,880
Stockholders' Equity Attributable to Noncontrolling Interest	[1]			15,310
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		3,891,468		10,478		(61,243)	1,939,408	$ 2,002,825
Stockholders' Equity Attributable to Parent		3,880,990
Noncontrolling interest		10,478
Shares, Issued								85,353
Stockholders' Equity Attributable to Parent		3,880,990
Stockholders' Equity Attributable to Noncontrolling Interest		10,478
Net Income (Loss) Attributable to Parent		48,004					48,004
Net Income (Loss) Attributable to Noncontrolling Interest		(281)		(281)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		47,723
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent		(44,490)				(44,490)
Treasury Stock, Shares, Acquired								131
Payments for Repurchase of Common Stock		24,751					17,109	$ 7,642
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures								392
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures		45,508						$ 45,508
Dividends, Common Stock, Cash		77,107					77,107
Contributions from noncontrolling interest		(997)		(997)
Increase (Decrease) In Noncontrolling Interests, Other		87		87
Stock Issued During Period, Shares, Acquisitions								14,297
Stock Issued During Period, Value, Acquisitions		2,689,317						$ 2,689,317
Consideration related to equity component of Cantel Convertible Debt		175,555						175,555
Consideration Related to Cantel Equity Compensation Programs		18,173						18,173
Reclassification to Cantel convertible debt, premium liability		$ (175,555)						$ (175,555)
Common Stock, Dividends, Per Share, Cash Paid		$ 0.83
Net Income (Loss) Attributable to Parent		$ 48,004					48,004
Net Income (Loss) Attributable to Noncontrolling Interest		(281)		(281)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		47,723
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent		(44,490)				(44,490)
Treasury Stock, Shares, Acquired								(131)
Payments for Repurchase of Common Stock		(24,751)					(17,109)	$ (7,642)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures								392
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures		45,508						$ 45,508
Dividends, Common Stock, Cash		(77,107)					(77,107)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		6,585,015		10,435		(36,817)	1,874,559	$ 4,736,838
Shares, Issued								99,746
Net Income (Loss) Attributable to Parent		69,811					69,811
Net Income (Loss) Attributable to Noncontrolling Interest		(186)		(186)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		69,625
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent		(68,916)				(68,916)
Treasury Stock, Shares, Acquired								71
Payments for Repurchase of Common Stock		14,081					8,215	$ 5,866
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures								236
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures		17,209						$ 17,209
Dividends, Common Stock, Cash		42,959					42,959
Contributions from noncontrolling interest		(997)
Increase (Decrease) In Noncontrolling Interests, Other		$ 35		35
Common Stock, Dividends, Per Share, Cash Paid		$ 0.43
Net Income (Loss) Attributable to Parent		$ 69,811					69,811
Net Income (Loss) Attributable to Noncontrolling Interest		(186)		(186)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		69,625
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent		(68,916)				(68,916)
Treasury Stock, Shares, Acquired								(71)
Payments for Repurchase of Common Stock		(14,081)					(8,215)	$ (5,866)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures								236
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures		17,209						$ 17,209
Dividends, Common Stock, Cash		(42,959)					(42,959)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		6,544,931
Stockholders' Equity Attributable to Parent		6,535,644				(105,733)	1,893,196	$ 4,748,181
Noncontrolling interest		9,287		9,287
Shares, Issued								99,911
Stockholders' Equity Attributable to Parent		6,535,644				$ (105,733)	$ 1,893,196	$ 4,748,181
Stockholders' Equity Attributable to Noncontrolling Interest		$ 9,287		$ 9,287
[1]	Certain amounts have been adjusted to reflect the change in inventory accounting method, as described in our Annual Report on Form 10-K filed with the SEC on May 28, 2021.
[2]	Certain amounts have been adjusted to reflect the change in inventory accounting method, as described in our Annual Report on Form 10-K filed with the SEC on May 28, 2021.

Nature of Operations and Summar

Nature of Operations and Summary of Significant Accounting Policies(Notes)	6 Months Ended
	Sep. 30, 2021
Notes To Financial Statements [Abstract]
Significant Accounting Policies	Nature of Operations and Summary of Significant Accounting Policies Nature of Operations STERIS is a leading global provider of products and services that support patient care with an emphasis on infection prevention. 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, dental instruments and tools, instrument and scope repair solutions, laboratory testing services, outsourced reprocessing, and capital equipment products, such as sterilizers and surgical tables, automated endoscope reprocessors, and connectivity solutions such as operating room (“OR”) integrati on. 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, 2021 dated May 28, 2021. The Consolidated Balance Sheet at March 31, 2021 was derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements. Principles of Consolidation We use the consolidation method to report our investment in our subsidiaries. Therefore, the accompanying consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned subsidiaries. We eliminate inter-company accounts and transactions when we consolidate these accounts. Investments in equity of unconsolidated affiliates, over which the Company has significant influence, but not control, over the financial and operating polices, are accounted for primarily using the equity method. These investments are immaterial to the Company's Consolidated Financial Statements. Use of Estimates We make certain estimates and assumptions when preparing financial statements according to U.S. GAAP that affect the reported amounts of assets and liabilities at the financial statement dates and the reported amounts of revenues and expenses during the periods presented. These estimates and assumptions involve judgments with respect to many factors that are difficult to predict and are beyond our control. Actual results could be materially different from these estimates. We revise the estimates and assumptions as new information becomes available. This means that operating results for the three and six month periods ended September 30, 2021 are not necessarily indicative of results that may be expected for future quarters or for the full fiscal year ending March 31, 2022. Revenue Recognition and Associated Liabilities 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 September 30, 2021, 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 include 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 cancellable 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 six months of fiscal 2022, $40,360 of the March 31, 2021 deferred revenue balance was recorded as revenue. During the first six months of fiscal 2021, $36,768 of the March 31, 2020 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 cancellable 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 September 30, 2021, the transaction price allocated to remaining performance obligations was approximately $1,374,000. We expect to recognize approximately 55% of the transaction price within one year and approximately 36% 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 2022 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. First Quarter Fiscal 2022 We adopted this standard effective April 1, 2021 with no material impact to our consolidated financial statements. ASU 2020-06 "Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40)" August 2020 First Quarter Fiscal 2022 We adopted this standard effective April 1, 2021 and applied it to our accounting for the convertible debt assumed in the acquisition of Cantel Medical Corp. ("Cantel"). 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, 2021 dated May 28, 2021. Our significant and critical accounting policies, estimates, and assumptions have not changed materially from March 31, 2021.

Business Acquisitions and Dives

Business Acquisitions and Divestitures Business Acquisitions and Divestitures (Notes)	6 Months Ended
	Sep. 30, 2021
Business Acquisitions and Divestitures [Abstract]
Business Combination Disclosure	Business Acquisitions On June 2, 2021, we acquired all outstanding equity interests of Cantel Medical LLC. ("Cantel") through a U.S. subsidiary. Cantel, headquartered in Little Falls, New Jersey, with approximately 3,700 employees, is a global provider of infection prevention products and services primarily to endoscopy and dental Customers. We believe that the acquisition will strengthen STERIS’s leadership in infection prevention by bringing together two complementary businesse s able to offer a broader set of Customers a more diversified selection of infection prevention, endoscopy and sterilization products and services. Cantel is being integrated into our existing Healthcare and Life Sciences segments. Cantel’s Dental business extends our business into a new Customer segment where there is an increasing focus on infection prevention protocols and processes. This business will be reported as the Dental segment. Additionally, the acquisition is expected to result in cost savings from optimizing global back-office infrastructure, leveraging best-demonstrated practices across locations and eliminating redundant public company costs. Acquisition and integration expenses which were primarily related to the Cantel acquisition totaled $17,404 and $158,400 for the second quarter and first half of fiscal 2022, respectively, and are reported in the selling, general and administrative expenses line of our Consolidated Statements of Income. Acquisition and integration expenses include but are not limited to investment banker, advisory, legal, other professional fees, and certain employee-related expenses. Total Purchase Conside ration The total consideration for Cantel Common Stock and s tock equivalents was $3,599,471. The consideration was comprised of the following: (shares in thousands) Cash consideration $16.93 per Cantel share (42,816 shares) $ 716,412 Cash consideration for fractional shares 14 STERIS plc ordinary shares (14,297 shares at 188.07 per share) 2,689,317 Consideration related to Cantel equity compensation programs 18,173 Consideration related to equity component of Cantel convertible debt 175,555 Total purchase consideration $ 3,599,471 In addition to the total purchase consideration, STERIS assumed and repaid $721,284 of existing Cantel debt obligations and assumed Cantel's obligations associated with convertible senior notes issued on May 15, 2020, which is described in note 5 titled, "Debt." We funded the cash portion of the transaction consideration and repayment of a significant amount of Cantel’s existing debt obligations with a portion of the proceeds from new debt, which is described in Note 5 titled, "Debt" and in our Annual Report on Form 10-K for the year ended March 31, 2021, filed with the SEC on May 28, 2021. Fair Value of Assets Acquired and Liabilities Assumed The acquisition of Cantel has been accounted for using the acquisition method of accounting which requires, among other things, the assets acquired and liabilities assumed be recognized at their respective fair values as of the acquisition date. Acquisition accounting is dependent upon certain valuations and other studies that have yet to commence or progress to a stage where there is sufficient information for a definitive measurement. The process for estimating the fair values of identifiable intangible assets and certain tangible assets and assumed liabilities requires the use of judgment in determining the appropriate assumptions and estimates. The entire purchase price allocation for Cantel is preliminary. As we finalize the fair value of assets acquired and liabilities assumed, additional purchase price adjustments will be recorded during the measurement period. Fair value estimates are based on a complex series of judgments about future events and uncertainties and rely heavily on estimates and assumptions. The judgments used to determine the estimated fair value assigned to each class of assets acquired and liabilities assumed, as well as asset lives, can materially impact our results of operations. The finalization of the purchase accounting assessment will result in changes in the valuation of assets acquired and liabilities assumed and may have a material impact on the our results of operations and financial position. Goodwill will be allocated to the Healthcare, Life Sciences and Dental segments. Goodwill is the excess of the consideration transferred over the net assets recognized and represents the expected revenue and cost synergies of the combined company and assembled workforce. Goodwill recognized as a result of the acquisition is not deductible for tax purposes. The table below presents the preliminary estimated fair values of assets acquired and liabilities assumed on the acquisition date. These preliminary estimates will be revised during the measurement period as third-party valuations are finalized, additional information becomes available and as additional analyzes are performed, and these differences could have a material impact on our results of operations and financial position. Cantel (1) Cash $ 169,073 Accounts receivable 172,226 Inventory 271,132 Property, plant and equipment 227,783 Lease right-of-use assets, net 48,504 Other assets 65,837 Intangible assets 2,190,000 Goodwill 2,149,827 Total assets acquired 5,294,382 Convertible debt, par value 168,000 Other current liabilities 243,331 Long-term lease obligations 40,768 Deferred income taxes, net 521,528 Long-term indebtedness 721,284 Total liabilities assumed 1,694,911 Net assets acquired $ 3,599,471 (1) Purchase price allocation is still preliminary as of September 30, 2021, as valuations have not been finalized. Other Intangible Assets The estimated fair values of identifiable intangible assets were prepared using an income valuation approach, which requires a forecast of expected future cash flows either through the use of the relief-from-royalty method or the multi-period excess earnings method. The estimated useful lives are based on the historical experience of STERIS, available similar industry data and assumptions made by management. Preliminary values and useful lives are presented in the table below. Total (1) Useful Life Customer relationships $ 2,060,000 10 years Trade name 130,000 10 years Total intangible assets acquired $ 2,190,000 (1) Amounts are preliminary as of September 30, 2021, as valuations have not been finalized. Contingent liabilities assumed totaled $25,000 and were related to contingent consideration associated with a prior acquisition completed by Cantel. Payment of the liability was made in June 2021. Actual and Pro Forma Impact Our consolidated financial statements include Cantel's results of operations from the date of acquisition on June 2, 2021 through September 30, 2021. Net sales and operating income (loss) attributable to Cantel and included in our consolidated financial statements for the three-month period ended September 30, 2021 total $312,903 and $(57,946), respectively. Net sales and operating income (loss) attributable to Cantel from the date of acquisition and included in our consolidated financial statements for the six-month period ended September 30, 2021 total $414,661 and $(191,136), respectively. The following unaudited pro forma information gives effect to our acquisition of Cantel as if the acquisition had occurred on April 1, 2020 and Cantel had been included in our consolidated results of operations for the three-month and six-month periods ended September 30, 2021 and 2020. Three Months Ended September 30, Six Months Ended September 30 (unaudited) (unaudited) 2021 2020 2021 2020 Net revenues $ 1,196,985 $ 1,035,265 $ 2,370,504 $ 1,905,139 Net income (loss) from continuing operations 137,375 58,593 231,017 (62,106) The historical consolidated financial information of STERIS and Cantel has been adjusted in the pro forma information to give effect to pro forma events that are directly attributable to the transaction and factually supportable. The unaudited pro forma results include adjustments to reflect the amortization of the inventory step-up and the incremental intangible asset amortization to be incurred based on preliminary valuations of assets acquired. Adjustments to financing costs and income tax expense also were made to reflect the capital structure and anticipated effective tax rate of the combined entity. These pro forma amounts are not necessarily indicative of the results that would have been obtained if the acquisition had occurred as of the beginning of the period presented or that may occur in the future, and does not reflect future synergies, integration costs, or other such costs or savings.

Inventories, Net (Notes)

Inventories, Net (Notes)	6 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Inventories, Net	Inventories, Net Inventories are stated at the lower of their cost and net realizable value determined by the first-in, first-out (“FIFO”) cost method. Inventory costs include material, labor, and overhead . Inventories, net consisted of the following: September 30, March 31, (*as adjusted) Raw materials $ 193,836 $ 103,939 Work in process 79,426 54,283 Finished goods 313,033 176,623 Reserve for excess and obsolete inventory (21,763) (19,778) Inventories, net $ 564,532 $ 315,067 *Certain amounts have been adjusted to reflect the change in inventory accounting method, as described in our Annual report on Form 10-K filed with the SEC on May 28, 2021. Inventory has increased since March 31, 2021 primarily due to the acquisition of Cantel.

Property, Plant and Equipment (

Property, Plant and Equipment (Notes)	6 Months Ended
	Sep. 30, 2021
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: September 30, March 31, Land and land improvements (1) $ 83,479 $ 69,477 Buildings and leasehold improvements 678,945 567,132 Machinery and equipment 883,897 779,044 Information systems 225,890 193,222 Radioisotope 579,617 565,681 Construction in progress (1) 282,313 211,381 Total property, plant, and equipment 2,734,141 2,385,937 Less: accumulated depreciation and depletion (1,222,886) (1,150,537) Property, plant, and equipment, net $ 1,511,255 $ 1,235,400 (1) Land is not depreciated. Construction in progress is not depreciated until placed in service.

Debt (Notes)

Debt (Notes)	6 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Debt	Debt Indebtedness was as follows: September 30, March 31, Short-term debt Term loan, current portion $ 13,750 $ — Delayed draw term loan, current portion 8,125 — Total short-term debt $ 21,875 $ — Long-term debt Private Placement $ 857,367 $ 860,308 Revolving Credit Facility 184,400 247,423 Deferred financing costs (27,243) (7,191) Term loan 411,250 550,000 Delayed draw term loan 641,875 — Senior public notes 1,350,000 — Financing leases 3,857 — Total long-term debt $ 3,421,506 $ 1,650,540 Total debt $ 3,443,381 $ 1,650,540 During the first quarter of fiscal 2022, we borrowed $650,000 under our Delayed draw term loan agreement and used the proceeds to partially fund the Cantel acquisition. Additional information regarding our indebtedness is included in the notes to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2021 dated May 28, 2021. Senior Public Notes On April 1, 2021, STERIS Irish FinCo Unlimited Company ("FinCo," "STERIS Irish FinCo," the "Issuer") completed an offering of $1,350,000 in aggregate principal amount, of its senior notes in two separate tranches: (i) $675,000 aggregate principal amount of the Issuer’s 2.70% Senior Notes due 2031 (the “2031 Notes”) and (ii) $675,000 aggregate principal amount of the Issuer’s 3.750% Senior Notes due 2051 (the “2051 Notes” and, together with the 2031 Notes, the “Senior Public Notes”). The Senior Public Notes were issued pursuant to an Indenture, dated as of April 1, 2021 (the “Base Indenture”), among FinCo, and STERIS plc, STERIS Corporation and STERIS Limited (the “Guarantors”) and U.S. Bank National Association, as trustee (the “Trustee”), as supplemented by the First Supplemental Indenture, dated as of April 1, 2021 , among FinCo, the Guarantors and the Trustee (the “Supplemental Indenture” and, together with the Base Indenture, the “Indenture”). Each of the Guarantors guaranteed the Senior Public Notes jointly and severally on a senior unsecured basis (the “Guarantees”). The 2031 Notes will mature on March 15, 2031 and the 2051 Notes will mature on March 15, 2051 . The Senior Public Notes will bear interest at the rates set forth above. Interest on the Senior Public Notes is payable on March 15 and September 15 of each year, beginning on September 15, 2021, until their respective maturities. Cantel's Convertible Debt On May 15, 2020, Cantel issued $168,000 aggregate principal amount of 3.25% convertible senior notes due 2025 (the “Notes”) in a private placement. The initial conversion price was $41.51 per share of Cantel common stock (based on an initial conversion rate of 24.0912 shares of Cantel common stock per one thousand dollars in principal amount of Notes) and was, along with the conversion rate, subject to adjustment if certain events occurred. On June, 3, 2021, Cantel (a) delivered a notice to holders of its Notes pursuant to the indenture governing the Notes (as supplemented, the "Cantel Indenture”), notifying holders that, as a result of each of (i) the consummation of the series of mergers (the “Mergers”) contemplated by the Agreement and Plan of Merger, dated as of January 12, 2021 (as amended by Amendment to Agreement and Plan of Merger, dated as of March 1, 2021), among Cantel, STERIS plc (“Parent”), Solar New US Holding Co, LLC (now known as Solar New US Holding Corporation) (“US Holdco”), an indirect and wholly owned subsidiary of Parent, and Crystal Merger Sub 1, LLC, a direct and wholly owned subsidiary of US Holdco, and (ii) the delisting of Cantel common stock from the New York Stock Exchange (the “NYSE”), a “Fundamental Change” and a “Make-Whole Fundamental Change,” each as defined in the Cantel Indenture, had occurred effective as of June 2, 2021 and (b) commenced an offer to purchase any and all outstanding Notes as a result of the Fundamental Change. A tender offer statement on Schedule TO (“Schedule TO”) was filed by Cantel with the U.S. Securities and Exchange Commission ("SEC") with respect to the right of each holder (each, a “Holder”) of the Notes to require Cantel to repurchase, at the Holder’s option, 100% of the principal amount of the Notes, plus accrued and unpaid interest thereon to, but excluding the settlement date of July 6, 2021 (as such date was amended by Amendment No. 1 to Schedule TO (“Amendment No. 1”), dated June 29, 2021). The offer to purchase the Notes expired at 11:59 p.m. New York City time, on July 1, 2021 (the “Expiration Time,” as such date was amended by Amendment No. 1), and was not extended. Wells Fargo Bank, National Association, as paying agent and trustee under the Indenture (the “Cantel Trustee”), informed Cantel that as of the Expiration Time, none of the Notes had been validly tendered (and not properly withdrawn) for purchase. Pursuant to the terms of the Cantel Indenture, in connection with the consummation of the Mergers, Cantel, Parent and the Cantel Trustee entered into a supplemental indenture providing that, following the Mergers, each holder’s right to convert each one thousand dollar principal amount of Notes into shares of Cantel common stock was changed into a right to convert such principal amount of Notes into the kind and amount of cash, stock, other securities, other property or assets, subject to settlement method election provisions of the Indenture, that a holder of Cantel common stock was entitled to receive upon consummation of the Mergers. At the consummation of the Mergers, holders of Cantel common stock received $16.93 in cash and 0.33787 ordinary shares, par value $0.001 per share, of the Parent (“Parent Shares”) for each share of Cantel common stock (each a “unit of Reference Property”). Because each of the consummation of the Mergers and the delisting of Cantel common stock from the NYSE constituted a “Make-Whole Fundamental Change” under the Cantel Indenture, any Notes surrendered for conversion from and including June 2, 2021 until July 2, 2021 (the “Make-Whole Conversion Period”) are subject to conversion at the conversion rate of 25.0843 units of Reference Property (the “Make-Whole Conversion Rate”), which corresponds to 8.4752 Parent Shares and approximately $424.68 in cash per one thousand dollars in principal amount of Cantel Notes. The Make-Whole Conversion Rate was based on an increase in the Conversion Rate by 0.9931 Additio nal Shares (as defined in the Indenture) based on a Make-Whole Effective Date of June 2, 2021 and a Stock Price (each as defined in the Indenture) of $81.3520. As previously announced by Cantel, it will settle all conversions of Notes in connection with the Make-Whole Fundamental Changes that constitute the Mergers and delisting of Cantel common stock from the NYSE pursuant to the Cash Settlement provisions of the Cantel Indenture. The Cantel Trustee, acting as conversion agent, informed Cantel that holders of 100% of the outstanding Notes elected to convert their Notes during the Make-Whole Conversion Period. The fair value of the Notes exceeded their aggregate par value of $168,000 at the date of consummation of the Mergers. The fair value was estimated utilizing the closing price of Parent Shares on June 2, 2021. A premium of approximately $175,555 in excess of the aggregate par value of the Notes represented purchase consideration and was initially classified in additional paid-in capital in accordance with ASC 2020-06, "Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Co ntracts in Entity’s Own Equity (Subtopic 815-40)." Because all Holders elected to convert during the Make-Whole Conversion Period, the aggregate par value outstanding has been reclassified to current liabilities in the balance sheet. The premium initially recorded as additional paid in capital at the effective time of the Mergers was reclassified to "Convertible debt, premium liability," also classified as a current liability, and was settled in cash. The final total Cash Settlement value of the Notes was approximately $371,361, comprised of the aggregate par value of $168,000 and the fair value of the liability representing the premium over par of approximately $203,361. The liability representing the premium over par value increased between the effective date of the Mergers and settlement because of the movement in trading prices of Parent Shares during the Observation Periods. The fluctuation in fair value during such Observation Periods is reported in the statement of income as a component of “Non-operating expense, net.” The combined annual aggregate amount of maturities of our outstanding debt excluding leases by fiscal year is as follows: 2023 142,875 2024 60,000 2025 165,938 2026 686,900 2027 and thereafter 2,411,054 Total $ 3,466,767

Additional Consolidated Balance

Additional Consolidated Balance Sheets Information (Notes)	6 Months Ended
	Sep. 30, 2021
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: September 30, March 31, Accrued payroll and other related liabilities: Compensation and related items $ 82,487 $ 47,157 Accrued vacation/paid time off 17,953 12,389 Accrued bonuses 66,999 62,530 Accrued employee commissions 16,180 24,022 Other postretirement benefit obligations-current portion 1,326 1,326 Other employee benefit plans obligations-current portion 2,528 2,654 Total accrued payroll and other related liabilities $ 187,473 $ 150,078 Accrued expenses and other: Deferred revenues $ 106,247 $ 62,492 Service liabilities 45,662 46,720 Self-insured risk reserves-current portion 8,978 8,095 Accrued dealer commissions 33,298 27,348 Accrued warranty 13,416 9,406 Asset retirement obligation-current portion 1,174 1,193 Accrued Interest 9,810 7,751 Other 90,352 57,552 Total accrued expenses and other $ 308,937 $ 220,557 Other liabilities: Self-insured risk reserves-long-term portion $ 17,295 $ 17,295 Other postretirement benefit obligations-long-term portion 7,955 8,690 Defined benefit pension plans obligations-long-term portion 2,583 3,748 Other employee benefit plans obligations-long-term portion 2,106 2,353 Accrued long-term income taxes 12,350 13,241 Asset retirement obligation-long-term portion 12,235 12,137 Other 29,069 30,546 Total other liabilities $ 83,593 $ 88,010

Income Tax Expense (Notes)

Income Tax Expense (Notes)	6 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Tax Expense	Income Tax Expense The effective income tax rates for the three month periods ended September 30, 2021 and 2020 were 22.3% and 20.8%, respectively. The effective income tax rates for the six month periods ended September 30, 2021 and 2020 were 21.3% and 19.3%, respectively. The fiscal 2022 effective tax rates increased when compared to fiscal 2021, primarily due to Cantel and our other recent acquisitions, which historically have had higher effective tax rates than STERIS. The fiscal 2022 effective tax rate also includes one-time, non-deductible acquisition related costs. 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 t axing jurisdictions and are subject to regular examinations by various United States federal, state and local, as well as foreign jurisdictions. With the exception of formal acceptance of the settlement noted below, 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 2016. We remain subject to tax authority audits in various jurisdictions wherever we do business. In the fourth quarter of fiscal 2021, we completed an appeals process with the U.S. Internal Revenue Service (the “IRS”) regarding proposed audit adjustments related to deductibility of interest paid on intercompany debt for fiscal years 2016 through 2017. An agreement was reached on final interest rates, and we are continuing to determine total impact on tax liability in each affected year. We estimate the total federal, state, and local tax impact of the settlement to be approximately $12,000, over the fiscal years 2016 through 2020.

Contingencies (Notes)

Contingencies (Notes)	6 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Commitments and Contingencies We are, and will likely continue to be, involved in a number of legal proceedings, government investigations, and claims, which we believe generally arise in the course of our business, given our size, history, complexity, and the nature of our business, products, Customers, regulatory environment, and industries in which we participate. These legal proceedings, investigations and claims generally involve a variety of legal theories and allegations, including, without limitation, personal injury (e.g., slip and falls, burns, vehicle accidents), product liability or regulation (e.g., based on product operation or claimed malfunction, failure to warn, failure to meet specification, or failure to comply with regulatory requirements), product exposure (e.g., claimed exposure to chemicals, asbestos, contaminants, radiation), property damage (e.g., claimed damage due to leaking equipment, fire, vehicles, chemicals), commercial claims (e.g., breach of contract, economic loss, warranty, misrepresentation), financial (e.g., taxes, reporting), employment (e.g., wrongful termination, discrimination, benefits matters), and other claims for damage and relief. We believe we have adequately reserved for our current litigation and claims that are probable and estimable, and further believe that the ultimate outcome of these pending lawsuits and claims will not have a material adverse effect on our consolidated financial position or results of operations taken as a whole. Due to their inherent uncertainty, however, there can be no assurance of the ultimate outcome or effect of current or future litigation, investigations, claims or other proceedings (including without limitation the matters discussed below). For certain types of claims, we presently maintain insurance coverage for personal injury and property damage and other liability coverages in amounts and with deductibles that we believe are prudent, but there can be no assurance that these coverages will be applicable or adequate to cover adverse outcomes of claims or legal proceedings against us. 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, 2021 dated May 28, 2021: 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.

Business Segment Information (N

Business Segment Information (Notes)	6 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information As a result of the acquisition of Cantel, we have reassessed the organization of our business and have added a new segment called Dental. We now operate and report our financial information in four reportable business segments: Healthcare, Applied Sterilization Technologies, Life Sciences and Dental. Non-allocated operating costs that support the entire Company and items not indicative of operating trends are excluded from segment operating income. Our Healthcare segment provides a comprehensive offering for healthcare providers worldwide, focused on sterile processing departments and procedural centers, such as operating rooms, endoscopy suites, and renal dialysis centers. Our products and services range from infection prevention consumables and capital equipment, as well as services to maintain that equipment; to the repair of re-usable procedural instruments; to outsourced instrument reprocessing services. In addition, our procedural solutions also include single-use devices and capital equipment infrastructure used primarily in operating rooms, ambulatory surgery centers, endoscopy suites, and other procedural areas. Our Applied Sterilization Technologies ("AST") segment is a third-party service provider for contract sterilization, as well as the testing services needed to validate sterility services for medical device and pharmaceutical manufacturers. Our technology-neutral offering supports Customers every step of the way, from testing through sterilization. Our Life Sciences segment provides a comprehensive offering of products and services that support pharmaceutical manufacturing, primarily for vaccine and other biopharma Customers focused on aseptic manufacturing. These solutions include a full suite of consumable products, equipment maintenance and specialty services, and capital equipment. Our Dental segment provides a comprehensive offering for dental practitioners and dental schools, offering instruments, infection prevention consumables and instrument management systems. We disclose a measure of segment income that is consistent with the way management operates an d views the business. The accounting policies for reportable segments are the same as those for the consolidated Company. For the three and six months ended September 30, 2021, revenues from a single Customer did not represent ten percent or more of the Healthcare, Applied Sterilization Technologies or Life Sciences segment’s revenues. Three customers collectively accounted for approximately 40.6% and 39.5% of our Dental segment revenues for the three months and six months ended September 30, 2021, respectively. 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, 2021, dated May 28, 2021. Financial information for each of our segments is presented in the following table: Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Revenues: (*as adjusted) (*as adjusted) Healthcare $ 744,134 $ 470,927 $ 1,346,951 $ 870,585 Applied Sterilization Technologies 204,892 169,547 413,794 321,909 Life Sciences 132,327 115,658 253,798 232,570 Dental $ 115,632 — $ 150,864 $ — Total revenues $ 1,196,985 $ 756,132 $ 2,165,407 $ 1,425,064 Operating income (loss): Healthcare $ 160,390 $ 104,796 $ 296,550 $ 188,968 Applied Sterilization Technologies 99,789 76,835 201,716 140,790 Life Sciences 57,519 46,433 106,607 94,894 Dental 32,392 — 42,511 — Corporate (71,552) (58,155) (146,612) (110,522) Total operating income before adjustments $ 278,538 $ 169,909 $ 500,772 $ 314,130 Less: Adjustments Amortization of acquired intangible assets (1) $ 74,791 $ 21,955 $ 116,531 $ 39,455 Acquisition and integration related charges (2) 17,404 1,135 158,400 2,421 Redomiciliation and tax restructuring costs (3) 159 384 110 554 Net (gain) loss on divestiture of businesses (1) (15) (5) 404 5 Amortization of inventory and property "step up" to fair value (1) 69,486 714 94,276 1,317 COVID-19 incremental costs (4) — 4,539 — 13,209 Restructuring charges (5) 210 (76) 224 90 Total operating income $ 116,503 $ 141,263 $ 130,827 $ 257,079 *Certain amounts have been adjusted to reflect the change in inventory accounting method, as described in our Annual report on Form 10-K filed with the SEC on May 28, 2021. (1) For more information regarding our recent acquisitions and divestitures refer to Note 2 titled, "Business Acquisitions" and to our Annual Report on Form 10-K for the year ended March 31, 2021, dated May 28, 2021. (2) Acquisition and integration related charges include transaction costs and integration expenses associated with acquisitions. (3) Costs incurred in tax restructuring. (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 our Annual R eport on Form 10-K for the year ended March 31, 2021, dated May 28, 2021. Additional information regarding our fiscal 2022 and fiscal 2021 revenue is disclosed in the following tables: Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Healthcare: Capital equipment $ 202,405 $ 131,673 $ 353,295 259,755 Consumables 270,089 122,797 476,781 206,551 Service 271,640 216,457 516,875 404,279 Total Healthcare Revenues $ 744,134 $ 470,927 $ 1,346,951 $ 870,585 Applied Sterilization Technologies Service Revenues $ 204,892 $ 169,547 $ 413,794 $ 321,909 Life Sciences: Capital equipment $ 34,186 $ 29,241 $ 66,931 $ 59,671 Consumables 61,748 55,793 118,284 114,635 Service 36,393 30,624 68,583 58,264 Total Life Sciences Revenues $ 132,327 $ 115,658 $ 253,798 $ 232,570 Dental Revenues $ 115,632 $ — $ 150,864 $ — Total Revenues $ 1,196,985 $ 756,132 $ 2,165,407 $ 1,425,064 Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Revenues: Ireland $ 20,046 $ 17,090 $ 41,991 $ 31,463 United States 852,497 549,449 1,531,747 1,041,157 Other locations 324,442 189,593 591,669 352,444 Total Revenues $ 1,196,985 $ 756,132 $ 2,165,407 $ 1,425,064 September 30, 2021 March 31, 2021 Property, Plant, and Equipment, Net Ireland $ 53,784 52,140 United States 881,069 673,784 Other locations 576,402 509,476 Property, Plant, and Equipment, Net $ 1,511,255 $ 1,235,400 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. September 30, 2021 March 31, 2021 Assets: Healthcare and Life Sciences $ 5,398,177 $ 3,600,182 Applied Sterilization Technologies 3,029,090 2,974,289 Dental 1,175,354 — Cantel related goodwill not yet allocated (1) 2,149,827 — Total assets $ 11,752,448 $ 6,574,471 (1) Amount is still preliminary as of September 30, 2021, as valuations have not been finalized. Goodwill will be allocated to the Healthcare, Life Sciences, and Dental business segments. The increase in total assets for the September 30, 2021 period is primarily related to the acquisition of Cantel. Refer to note 2 titled, "Business Acquisitions," for more information.

Shares and Preferred Shares (No

Shares and Preferred Shares (Notes)	6 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	Shares and Preferred Shares 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 September 30, Six Months Ended September 30, Denominator (shares in thousands): 2021 2020 2021 2020 Weighted average shares outstanding—basic 99,848 85,170 95,000 85,065 Dilutive effect of share equivalents 841 674 840 695 Weighted average shares outstanding and share equivalents—diluted 100,689 85,844 95,840 85,760 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 September 30, Six Months Ended September 30, (shares in thousands) 2021 2020 2021 2020 Number of share options 209 503 241 416 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.

Equity

Equity	6 Months Ended
	Sep. 30, 2021
Equity [Abstract]
Treasury Stock	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 September 30, 2021, there was approximately $333,932 (net of taxes, fees and commissions) of remaining availability under the 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. From the start 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.

Share-Based Compensation (Notes

Share-Based Compensation (Notes)	6 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation We maintain a long-term incentive plan that makes available shares for grants, at the discretion of the Board of Directors or the Compensation and Organizational Development Committee of the Board of Directors, to officers, directors, and key employees in the form of stock options, restricted shares, restricted share units, stock appreciation rights and share grants. We satisfy share award incentives through the issuance of new ordinary shares. Stock options provide the right to purchase our shares at the market price on the date of grant, or for options granted to employees in fiscal 2019 and thereafter, 110% of the market price on the date of grant, subject to the terms of the plan and agreements. Generally, one-fourth of the stock options granted to employees become exercisable for each full year of employment following the grant date. Stock options granted generally expire 10 years after the grant date, or in some cases earlier if the option holder is no longer employed by us. Restricted shares and restricted share units generally cliff vest after a four year period or vest in tranches of one-fourth of the number granted for each year of employment after the grant date. As of September 30, 2021, 3,257,138 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 six months of fiscal 2022 and 2021: Fiscal 2022 Fiscal 2021 Risk-free interest rate 1.16 % 0.46 % Expected life of options 5.9 years 6.0 years Expected dividend yield of stock 0.97 % 0.96 % Expected volatility of stock 24.37 % 23.04 % 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 2.85% and 2.78% was applied in fiscal 2022 and 2021, 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 Weighted Average Aggregate Outstanding at March 31, 2021 1,637,047 $ 112.03 Granted 214,734 210.79 Exercised (112,199) 68.78 Forfeited — — Outstanding at September 30, 2021 1,739,582 $ 127.01 6.7 years $ 135,815 Exercisable at September 30, 2021 1,094,684 $ 99.58 5.7 years $ 114,798 We estimate that 626,598 of the non-vested stock options outstanding at September 30, 2021 will ultimately vest. The aggregate intrinsic value in the table above represents the total pre-tax difference between the $204.28 closing price of our ordinary shares on September 30, 2021 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 six months of fiscal 2022 and fiscal 2021 was $16,076 and $25,244, respectively. Net cash proceeds from the exercise of stock options were $7,829 and $20,600 for the first six months of fiscal 2022 and fiscal 2021, respectively. The weighted average grant date fair value of stock option grants was $37.34 and $27.66 for the first six months of fiscal 2022 and fiscal 2021, 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. As of September 30, 2021, we no longer have outstanding SARS. The fair value of the outstanding SARS as of September 30, 2020 was $448. A summary of the non-vested restricted share and share unit activity is presented below: Number of Number of Restricted Share Units Weighted-Average Non-vested at March 31, 2021 533,323 29,500 $ 121.35 Granted 112,036 14,189 192.85 Vested (170,619) (15,534) 96.19 Forfeited (8,425) (430) 153.97 Non-vested at September 30, 2021 466,315 27,725 $ 148.57 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 six months of fiscal 2022 at the time of grant was $17,865. As of September 30, 2021, there was a total of $61,084 in unrecognized compensation cost related to non-vested share-based compensation granted under our share-based compensation plan. We expect to recognize the cost over a weighted average period of 2.2 years. Cantel Share Based Compensation Plan In connection with the June 2, 2021, acquisition of Cantel, outstanding, non-vested Cantel restricted share units were replaced with STERIS restricted share units. A total of 280,402 STERIS restricted share units replaced Cantel awards based on a ratio of one Cantel restricted share unit to 0.4262 STERIS restricted share units. Cantel time based restricted share units were replaced with STERIS restricted share units with the same three-year pro-rata vesting terms based on the original award date. Performance and market based Cantel restricted share units were replaced with time based STERIS restricted share units that vest pro rata over the remaining one, two or three anniversaries from the original Cantel award date. The number of performance restricted share units was replaced based on the original target achievement level. All replacement restricted share units retained dividend accumulation rights. The fair value of each STERIS restricted share unit awarded on June 2, 2021 to replace outstanding non-vested Cantel restricted share units was $191.18 based on the closing price of STERIS ordinary shares on June 2, 2021. Approximately $18,173 of the total $53,607 grant date fair value was attributable to pre-acquisition services provided and was recorded as a component of purchase consideration in connection with the acquisition of Cantel. During the first six months of fiscal 2022, recognition of unamortized share-based compensation expense totaling $ 17,985 was accelerated in connection with the termination of certain Cantel employees in fiscal 2022. As a result of the formal notices provided and the terms of the Cantel share based compensati on plans and Cantel Executive Severance and Change of Control Plan, the restricted share units vested requiri ng acceleration of the remaining related compensation cost. As of September 30, 2021, there was a total of $12,521 in unrecognized compensation cost related to non-vested STERIS restricted share units awarded to replace Cantel restricted share units. A summary of the non-vested restricted share units activity associated with the Cantel share-based compensation plans is presented below: Number of Restricted Share Units Weighted-Average Non-vested at March 31, 2021 — $ — Granted 280,402 $ 191.18 Vested (157,821) 191.18 Forfeited (3,380) 191.18 Non-vested at September 30, 2021 119,201 $ 191.18

Financial and Other Guarantees(

Financial and Other Guarantees(Notes)	6 Months Ended
	Sep. 30, 2021
Product Warranties Disclosures [Abstract]
Product Warranty Disclosure	Financial and Other Guarantees We generally offer a limited parts and labor warranty on capital equipment. The specific terms and conditions of those warranties vary depending on the product sold and the countries where we conduct business. We record a liability for the estimated cost of product warranties at the time product revenues are recognized. The amounts we expect to incur on behalf of our Customers for the future estimated cost of these warranties are recorded as a current liability on the accompanying Consolidated Balance Sheets. Factors that affect the amount of our warranty liability include the number and type of installed units, historical and anticipated rates of product failures, and material and service costs per claim. We periodically assess the adequacy of our recorded warranty liabilities and adjust the amounts as necessary. Changes in our warranty liability during the first six months of fiscal 2022 were as follows: Warranties Balance, March 31, 2021 $ 9,406 Liabilities assumed in acquisition of Cantel 4,769 Warranties issued during the period 8,027 Settlements made during the period (8,786) Balance, September 30, 2021 $ 13,416

Deritvatives and Hedging (Notes

Deritvatives and Hedging (Notes)	6 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure	Derivatives and HedgingFrom 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 second quarter of fiscal 2022, we also held forward foreign currency contracts to hedge a portion of our expected non-U.S. dollar denominated earnings against our reporting currency, the U.S. dollar. These foreign currency exchange contracts will mature during fiscal 2022. 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 September 30, 2021, we held foreign currency forward contracts to buy 39.9 million Mexican pesos and 5.1 million Canadian dollars; and to sell 54.0 million euros and 7.0 million Canadian dollars. At September 30, 2021 we held commodity swap contracts to buy 384.0 thousand pounds of nickel. Asset Derivatives Liability Derivatives Fair Value at Fair Value at Fair Value at Fair Value at Balance sheet location September 30, 2021 March 31, 2021 September 30, 2021 March 31, 2021 Prepaid & Other $ 1,145 $ 57 $ — $ — Accrued expenses and other $ — $ — $ 57 $ 367 The following table presents the impact of derivative instruments and their location within the Consolidated Statements of Income: Location of gain (loss) Amount of gain (loss) recognized in income Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Foreign currency forward contracts Selling, general and administrative $ 1,143 $ (223) $ 2,571 $ (80) Commodity swap contracts Cost of revenues $ 28 $ 386 $ 693 $ 751 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 $49,208 at September 30, 2021. 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)	6 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Disclosures	. 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 September 30, 2021 and March 31, 2021: Fair Value Measurements Carrying Value Quoted Prices Significant Other Significant Level 1 Level 2 Level 3 September 30, March 31, September 30, March 31, September 30, March 31, September 30, March 31, Assets: Cash and cash equivalents $ 383,494 $ 220,531 $ 383,494 $ 220,531 $ — $ — $ — $ — Forward and swap contracts (1) 1,145 57 — — 1,145 57 — — Equity investments (2) 9,949 10,301 9,949 10,301 — — — — Other investments 2,643 2,665 2,643 2,665 — — — — Liabilities: Forward and swap contracts (1) $ 57 $ 367 $ — $ — $ 57 $ 367 $ — $ — Deferred compensation plans (2) 1,927 1,715 1,927 1,715 — — — — Long term debt (3) 3,439,524 1,650,540 — — 3,585,697 1,722,459 — — Contingent consideration obligations (4) 19,969 19,642 — — — — 19,969 19,642 (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 second quarter and first half of fiscal 2022, we recorded losses of $213 and $229, respectively, related to these investments. During the second quarter and first half of fiscal 2021, we recorded losses of $384 and $74, 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 arrangement s. The fair values of our Senior Public Notes are estimated using quoted market prices for the publicly registered Senior Notes. These amounts exclude lease liabilities. (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 September 30, 2021 are summarized as follows: Contingent Consideration Balance at March 31, 2021 $ 19,642 Liabilities assumed in acquisition of Cantel 25,000 Additions 372 Payments (25,044) Currency translation adjustments (1) Balance at September 30, 2021 $ 19,969

Reclassifications out of Accumu

Reclassifications out of Accumulated Other Comprehensive Income Reclassification out of Accumulated Other Comprehensive Income (Notes)	6 Months Ended
	Sep. 30, 2021
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 September 30, 2021 and 2020 were as follows: Defined Benefit Plans (1) Currency Translation (2) Total Accumulated Other Comprehensive Income (Loss) Three Months Six Months Three Months Six Months Three Months Six Months Beginning Balance $ (6,026) $ (5,519) $ (30,791) $ (55,724) $ (36,817) $ (61,243) Other Comprehensive Income (Loss) before reclassifications 585 1,176 (68,409) (43,476) (67,824) (42,300) Amounts reclassified from Accumulated Other Comprehensive Income (Loss) (1,092) (2,190) — — (1,092) (2,190) Net current-period Other Comprehensive (Loss) (507) (1,014) (68,409) (43,476) (68,916) (44,490) Balance at September 30, 2021 $ (6,533) $ (6,533) $ (99,200) $ (99,200) $ (105,733) $ (105,733) (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) Three Months Six Months Three Months Six Months Three Months Six Months Beginning Balance $ (7,323) $ (6,813) $ (201,031) $ (228,650) $ (208,354) $ (235,463) Other Comprehensive Income before reclassifications 324 648 78,251 105,870 78,575 106,518 Amounts reclassified from Accumulated Other Comprehensive Income (Loss) (834) (1,668) — — (834) (1,668) Net current-period Other Comprehensive Income (Loss) (510) (1,020) 78,251 105,870 77,741 104,850 Balance at September 30, 2020 $ (7,833) $ (7,833) $ (122,780) $ (122,780) $ (130,613) $ (130,613) 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.

Unusual or Infrequently Occurri

Unusual or Infrequently Occurring Items	6 Months Ended
	Sep. 30, 2021
Unusual or Infrequent Items, or Both [Abstract]
COVID-19 Pandemic	COVID-19 PandemicThe 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 surgical procedures and treatments and shelter-in-place orders or similar measures, negatively affected some of our operations, which impacted our operating results, 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. Also, the COVID-19 pandemic has caused and continues to cause disruptions in our supply chain and labor scarcity resulting in material and labor cost inflation. External factors such as policymaker decisions to remove certain restrictions, as they evaluate the continued infection rate and COVID-19 related deaths, the emergence of new variants of the virus, and the distribution of available vaccines create uncertainty regarding future demand from our Customers and the ability of our suppliers to meet our demands. However, order momentum has continued to improve and increased demand for certain capital equipment products strengthened from the fourth quarter of fiscal 2021.

Nature of Operations and Summ_2

Nature of Operations and Summary of Significant Accounting Policies Accounting Policies (Policies)	6 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation We use the consolidation method to report our investment in our subsidiaries. Therefore, the accompanying consolidated financial statements include the accounts of the Company and its wholly-owned and majority-owned subsidiaries. We eliminate inter-company accounts and transactions when we consolidate these accounts. Investments in equity of unconsolidated affiliates, over which the Company has significant influence, but not control, over the financial and operating polices, are accounted for primarily using the equity method. These investments are immaterial to the Company's Consolidated Financial Statements.
Use of Estimates	Use of Estimates We make certain estimates and assumptions when preparing financial statements according to U.S. GAAP that affect the reported amounts of assets and liabilities at the financial statement dates and the reported amounts of revenues and expenses during the periods presented. These estimates and assumptions involve judgments with respect to many factors that are difficult to predict and are beyond our control. Actual results could be materially different from these estimates. We revise the estimates and assumptions as new information becomes available. This means that operating results for the three and six month periods ended September 30, 2021 are not necessarily indicative of results that may be expected for future quarters or for the full fiscal year ending March 31, 2022.
Revenue	Revenue Recognition and Associated Liabilities 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 September 30, 2021, 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 include 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 cancellable 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 six months of fiscal 2022, $40,360 of the March 31, 2021 deferred revenue balance was recorded as revenue. During the first six months of fiscal 2021, $36,768 of the March 31, 2020 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 cancellable 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 September 30, 2021, the transaction price allocated to remaining performance obligations was approximately $1,374,000. We expect to recognize approximately 55% of the transaction price within one year and approximately 36% beyond one year. The

Accounting Policies (Tables)

Accounting Policies (Tables)	6 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
New Accounting Pronouncement, Early Adoption	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 2022 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. First Quarter Fiscal 2022 We adopted this standard effective April 1, 2021 with no material impact to our consolidated financial statements. ASU 2020-06 "Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40)" August 2020 First Quarter Fiscal 2022 We adopted this standard effective April 1, 2021 and applied it to our accounting for the convertible debt assumed in the acquisition of Cantel Medical Corp. ("Cantel").

Business Acquisitions and Div_2

Business Acquisitions and Divestitures Business Acquisitions and Divestitures (Tables)	6 Months Ended
	Sep. 30, 2021
Business Acquisitions and Divestitures [Abstract]
Consideration Paid [Table]	The total consideration for Cantel Common Stock and s tock equivalents was $3,599,471. The consideration was comprised of the following: (shares in thousands) Cash consideration $16.93 per Cantel share (42,816 shares) $ 716,412 Cash consideration for fractional shares 14 STERIS plc ordinary shares (14,297 shares at 188.07 per share) 2,689,317 Consideration related to Cantel equity compensation programs 18,173 Consideration related to equity component of Cantel convertible debt 175,555 Total purchase consideration $ 3,599,471
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	Cantel (1) Cash $ 169,073 Accounts receivable 172,226 Inventory 271,132 Property, plant and equipment 227,783 Lease right-of-use assets, net 48,504 Other assets 65,837 Intangible assets 2,190,000 Goodwill 2,149,827 Total assets acquired 5,294,382 Convertible debt, par value 168,000 Other current liabilities 243,331 Long-term lease obligations 40,768 Deferred income taxes, net 521,528 Long-term indebtedness 721,284 Total liabilities assumed 1,694,911 Net assets acquired $ 3,599,471 (1) Purchase price allocation is still preliminary as of September 30, 2021, as valuations have not been finalized.
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination	Total (1) Useful Life Customer relationships $ 2,060,000 10 years Trade name 130,000 10 years Total intangible assets acquired $ 2,190,000 (1) Amounts are preliminary as of September 30, 2021, as valuations have not been finalized.
Business Acquisition, Pro Forma Information	The following unaudited pro forma information gives effect to our acquisition of Cantel as if the acquisition had occurred on April 1, 2020 and Cantel had been included in our consolidated results of operations for the three-month and six-month periods ended September 30, 2021 and 2020. Three Months Ended September 30, Six Months Ended September 30 (unaudited) (unaudited) 2021 2020 2021 2020 Net revenues $ 1,196,985 $ 1,035,265 $ 2,370,504 $ 1,905,139 Net income (loss) from continuing operations 137,375 58,593 231,017 (62,106)

Inventories, Net Inventories, N

Inventories, Net Inventories, Net (Tables)	6 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory	September 30, March 31, (*as adjusted) Raw materials $ 193,836 $ 103,939 Work in process 79,426 54,283 Finished goods 313,033 176,623 Reserve for excess and obsolete inventory (21,763) (19,778) Inventories, net $ 564,532 $ 315,067

Property, Plant and Equipment P

Property, Plant and Equipment Property, Plant and Equipment (Tables)	6 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Information related to the major categories of our depreciable assets is as follows: September 30, March 31, Land and land improvements (1) $ 83,479 $ 69,477 Buildings and leasehold improvements 678,945 567,132 Machinery and equipment 883,897 779,044 Information systems 225,890 193,222 Radioisotope 579,617 565,681 Construction in progress (1) 282,313 211,381 Total property, plant, and equipment 2,734,141 2,385,937 Less: accumulated depreciation and depletion (1,222,886) (1,150,537) Property, plant, and equipment, net $ 1,511,255 $ 1,235,400 (1) Land is not depreciated. Construction in progress is not depreciated until placed in service.

Debt Debt (Tables)

Debt Debt (Tables)	6 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
Schedule of Debt	Indebtedness was as follows: September 30, March 31, Short-term debt Term loan, current portion $ 13,750 $ — Delayed draw term loan, current portion 8,125 — Total short-term debt $ 21,875 $ — Long-term debt Private Placement $ 857,367 $ 860,308 Revolving Credit Facility 184,400 247,423 Deferred financing costs (27,243) (7,191) Term loan 411,250 550,000 Delayed draw term loan 641,875 — Senior public notes 1,350,000 — Financing leases 3,857 — Total long-term debt $ 3,421,506 $ 1,650,540 Total debt $ 3,443,381 $ 1,650,540
Schedule of Maturities of Long-term Debt	The combined annual aggregate amount of maturities of our outstanding debt excluding leases by fiscal year is as follows: 2023 142,875 2024 60,000 2025 165,938 2026 686,900 2027 and thereafter 2,411,054 Total $ 3,466,767

Additional Consolidated Balan_2

Additional Consolidated Balance Sheets Information Additional Consolidated Balance Sheets Information (Tables)	6 Months Ended
	Sep. 30, 2021
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: September 30, March 31, Accrued payroll and other related liabilities: Compensation and related items $ 82,487 $ 47,157 Accrued vacation/paid time off 17,953 12,389 Accrued bonuses 66,999 62,530 Accrued employee commissions 16,180 24,022 Other postretirement benefit obligations-current portion 1,326 1,326 Other employee benefit plans obligations-current portion 2,528 2,654 Total accrued payroll and other related liabilities $ 187,473 $ 150,078 Accrued expenses and other: Deferred revenues $ 106,247 $ 62,492 Service liabilities 45,662 46,720 Self-insured risk reserves-current portion 8,978 8,095 Accrued dealer commissions 33,298 27,348 Accrued warranty 13,416 9,406 Asset retirement obligation-current portion 1,174 1,193 Accrued Interest 9,810 7,751 Other 90,352 57,552 Total accrued expenses and other $ 308,937 $ 220,557 Other liabilities: Self-insured risk reserves-long-term portion $ 17,295 $ 17,295 Other postretirement benefit obligations-long-term portion 7,955 8,690 Defined benefit pension plans obligations-long-term portion 2,583 3,748 Other employee benefit plans obligations-long-term portion 2,106 2,353 Accrued long-term income taxes 12,350 13,241 Asset retirement obligation-long-term portion 12,235 12,137 Other 29,069 30,546 Total other liabilities $ 83,593 $ 88,010
Schedule of Accrued Liabilities [Table Text Block]	Additional information related to our Consolidated Balance Sheets is as follows: September 30, March 31, Accrued payroll and other related liabilities: Compensation and related items $ 82,487 $ 47,157 Accrued vacation/paid time off 17,953 12,389 Accrued bonuses 66,999 62,530 Accrued employee commissions 16,180 24,022 Other postretirement benefit obligations-current portion 1,326 1,326 Other employee benefit plans obligations-current portion 2,528 2,654 Total accrued payroll and other related liabilities $ 187,473 $ 150,078 Accrued expenses and other: Deferred revenues $ 106,247 $ 62,492 Service liabilities 45,662 46,720 Self-insured risk reserves-current portion 8,978 8,095 Accrued dealer commissions 33,298 27,348 Accrued warranty 13,416 9,406 Asset retirement obligation-current portion 1,174 1,193 Accrued Interest 9,810 7,751 Other 90,352 57,552 Total accrued expenses and other $ 308,937 $ 220,557 Other liabilities: Self-insured risk reserves-long-term portion $ 17,295 $ 17,295 Other postretirement benefit obligations-long-term portion 7,955 8,690 Defined benefit pension plans obligations-long-term portion 2,583 3,748 Other employee benefit plans obligations-long-term portion 2,106 2,353 Accrued long-term income taxes 12,350 13,241 Asset retirement obligation-long-term portion 12,235 12,137 Other 29,069 30,546 Total other liabilities $ 83,593 $ 88,010

Business Segment Information Bu

Business Segment Information Business Segment Information (Tables)	6 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Financial information for each of our segments is presented in the following table: Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Revenues: (*as adjusted) (*as adjusted) Healthcare $ 744,134 $ 470,927 $ 1,346,951 $ 870,585 Applied Sterilization Technologies 204,892 169,547 413,794 321,909 Life Sciences 132,327 115,658 253,798 232,570 Dental $ 115,632 — $ 150,864 $ — Total revenues $ 1,196,985 $ 756,132 $ 2,165,407 $ 1,425,064 Operating income (loss): Healthcare $ 160,390 $ 104,796 $ 296,550 $ 188,968 Applied Sterilization Technologies 99,789 76,835 201,716 140,790 Life Sciences 57,519 46,433 106,607 94,894 Dental 32,392 — 42,511 — Corporate (71,552) (58,155) (146,612) (110,522) Total operating income before adjustments $ 278,538 $ 169,909 $ 500,772 $ 314,130 Less: Adjustments Amortization of acquired intangible assets (1) $ 74,791 $ 21,955 $ 116,531 $ 39,455 Acquisition and integration related charges (2) 17,404 1,135 158,400 2,421 Redomiciliation and tax restructuring costs (3) 159 384 110 554 Net (gain) loss on divestiture of businesses (1) (15) (5) 404 5 Amortization of inventory and property "step up" to fair value (1) 69,486 714 94,276 1,317 COVID-19 incremental costs (4) — 4,539 — 13,209 Restructuring charges (5) 210 (76) 224 90 Total operating income $ 116,503 $ 141,263 $ 130,827 $ 257,079
Revenue from External Customers by Products and Services [Table Text Block]	Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Healthcare: Capital equipment $ 202,405 $ 131,673 $ 353,295 259,755 Consumables 270,089 122,797 476,781 206,551 Service 271,640 216,457 516,875 404,279 Total Healthcare Revenues $ 744,134 $ 470,927 $ 1,346,951 $ 870,585 Applied Sterilization Technologies Service Revenues $ 204,892 $ 169,547 $ 413,794 $ 321,909 Life Sciences: Capital equipment $ 34,186 $ 29,241 $ 66,931 $ 59,671 Consumables 61,748 55,793 118,284 114,635 Service 36,393 30,624 68,583 58,264 Total Life Sciences Revenues $ 132,327 $ 115,658 $ 253,798 $ 232,570 Dental Revenues $ 115,632 $ — $ 150,864 $ — Total Revenues $ 1,196,985 $ 756,132 $ 2,165,407 $ 1,425,064
Revenue from External Customers by Geographic Areas [Table Text Block]	Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Revenues: Ireland $ 20,046 $ 17,090 $ 41,991 $ 31,463 United States 852,497 549,449 1,531,747 1,041,157 Other locations 324,442 189,593 591,669 352,444 Total Revenues $ 1,196,985 $ 756,132 $ 2,165,407 $ 1,425,064 September 30, 2021 March 31, 2021 Property, Plant, and Equipment, Net Ireland $ 53,784 52,140 United States 881,069 673,784 Other locations 576,402 509,476 Property, Plant, and Equipment, Net $ 1,511,255 $ 1,235,400
Reconciliation of Assets from Segment to Consolidated	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. September 30, 2021 March 31, 2021 Assets: Healthcare and Life Sciences $ 5,398,177 $ 3,600,182 Applied Sterilization Technologies 3,029,090 2,974,289 Dental 1,175,354 — Cantel related goodwill not yet allocated (1) 2,149,827 — Total assets $ 11,752,448 $ 6,574,471

Shares and Preferred Shares Sha

Shares and Preferred Shares Shares and Preferred Shares (Tables)	6 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares [Table Text Block]	Three Months Ended September 30, Six Months Ended September 30, Denominator (shares in thousands): 2021 2020 2021 2020 Weighted average shares outstanding—basic 99,848 85,170 95,000 85,065 Dilutive effect of share equivalents 841 674 840 695 Weighted average shares outstanding and share equivalents—diluted 100,689 85,844 95,840 85,760
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 September 30, Six Months Ended September 30, (shares in thousands) 2021 2020 2021 2020 Number of share options 209 503 241 416

Share-Based Compensation Share-

Share-Based Compensation Share-Based Compensation (Tables)	6 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Assumptions Used	The following weighted-average assumptions were used for options granted during the first six months of fiscal 2022 and 2021: Fiscal 2022 Fiscal 2021 Risk-free interest rate 1.16 % 0.46 % Expected life of options 5.9 years 6.0 years Expected dividend yield of stock 0.97 % 0.96 % Expected volatility of stock 24.37 % 23.04 %
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 Weighted Average Aggregate Outstanding at March 31, 2021 1,637,047 $ 112.03 Granted 214,734 210.79 Exercised (112,199) 68.78 Forfeited — — Outstanding at September 30, 2021 1,739,582 $ 127.01 6.7 years $ 135,815 Exercisable at September 30, 2021 1,094,684 $ 99.58 5.7 years $ 114,798
Share-based Compensation Arrangements by Share-based Payment Award, Restricted Stock Units, Vested and Expected to Vest	A summary of the non-vested restricted share and share unit activity is presented below: Number of Number of Restricted Share Units Weighted-Average Non-vested at March 31, 2021 533,323 29,500 $ 121.35 Granted 112,036 14,189 192.85 Vested (170,619) (15,534) 96.19 Forfeited (8,425) (430) 153.97 Non-vested at September 30, 2021 466,315 27,725 $ 148.57
Share-based Payment Arrangement, Activity	A summary of the non-vested restricted share units activity associated with the Cantel share-based compensation plans is presented below: Number of Restricted Share Units Weighted-Average Non-vested at March 31, 2021 — $ — Granted 280,402 $ 191.18 Vested (157,821) 191.18 Forfeited (3,380) 191.18 Non-vested at September 30, 2021 119,201 $ 191.18

Financial and Other Guarantees

Financial and Other Guarantees Financial and Other Gurantees (Tables)	6 Months Ended
	Sep. 30, 2021
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	Changes in our warranty liability during the first six months of fiscal 2022 were as follows: Warranties Balance, March 31, 2021 $ 9,406 Liabilities assumed in acquisition of Cantel 4,769 Warranties issued during the period 8,027 Settlements made during the period (8,786) Balance, September 30, 2021 $ 13,416

Derivatives and Hedging Derivat

Derivatives and Hedging Derivatives and Hedging (Tables)	6 Months Ended
	Sep. 30, 2021
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 September 30, 2021 March 31, 2021 September 30, 2021 March 31, 2021 Prepaid & Other $ 1,145 $ 57 $ — $ — Accrued expenses and other $ — $ — $ 57 $ 367
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) Amount of gain (loss) recognized in income Three Months Ended September 30, Six Months Ended September 30, 2021 2020 2021 2020 Foreign currency forward contracts Selling, general and administrative $ 1,143 $ (223) $ 2,571 $ (80) Commodity swap contracts Cost of revenues $ 28 $ 386 $ 693 $ 751

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements (Tables)	6 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Option, Disclosures	The following table shows the fair value of our financial assets and liabilities at September 30, 2021 and March 31, 2021: Fair Value Measurements Carrying Value Quoted Prices Significant Other Significant Level 1 Level 2 Level 3 September 30, March 31, September 30, March 31, September 30, March 31, September 30, March 31, Assets: Cash and cash equivalents $ 383,494 $ 220,531 $ 383,494 $ 220,531 $ — $ — $ — $ — Forward and swap contracts (1) 1,145 57 — — 1,145 57 — — Equity investments (2) 9,949 10,301 9,949 10,301 — — — — Other investments 2,643 2,665 2,643 2,665 — — — — Liabilities: Forward and swap contracts (1) $ 57 $ 367 $ — $ — $ 57 $ 367 $ — $ — Deferred compensation plans (2) 1,927 1,715 1,927 1,715 — — — — Long term debt (3) 3,439,524 1,650,540 — — 3,585,697 1,722,459 — — Contingent consideration obligations (4) 19,969 19,642 — — — — 19,969 19,642
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 September 30, 2021 are summarized as follows: Contingent Consideration Balance at March 31, 2021 $ 19,642 Liabilities assumed in acquisition of Cantel 25,000 Additions 372 Payments (25,044) Currency translation adjustments (1) Balance at September 30, 2021 $ 19,969

Reclassifications out of Accu_2

Reclassifications out of Accumulated Other Comprehensive Income Reclassification out of Accumulated Other Comprehensive Income (Tables)	6 Months Ended
	Sep. 30, 2021
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 September 30, 2021 and 2020 were as follows: Defined Benefit Plans (1) Currency Translation (2) Total Accumulated Other Comprehensive Income (Loss) Three Months Six Months Three Months Six Months Three Months Six Months Beginning Balance $ (6,026) $ (5,519) $ (30,791) $ (55,724) $ (36,817) $ (61,243) Other Comprehensive Income (Loss) before reclassifications 585 1,176 (68,409) (43,476) (67,824) (42,300) Amounts reclassified from Accumulated Other Comprehensive Income (Loss) (1,092) (2,190) — — (1,092) (2,190) Net current-period Other Comprehensive (Loss) (507) (1,014) (68,409) (43,476) (68,916) (44,490) Balance at September 30, 2021 $ (6,533) $ (6,533) $ (99,200) $ (99,200) $ (105,733) $ (105,733) (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) Three Months Six Months Three Months Six Months Three Months Six Months Beginning Balance $ (7,323) $ (6,813) $ (201,031) $ (228,650) $ (208,354) $ (235,463) Other Comprehensive Income before reclassifications 324 648 78,251 105,870 78,575 106,518 Amounts reclassified from Accumulated Other Comprehensive Income (Loss) (834) (1,668) — — (834) (1,668) Net current-period Other Comprehensive Income (Loss) (510) (1,020) 78,251 105,870 77,741 104,850 Balance at September 30, 2020 $ (7,833) $ (7,833) $ (122,780) $ (122,780) $ (130,613) $ (130,613) 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.

Nature of Operations and Summ_3

Nature of Operations and Summary of Significant Accounting Policies Revenue Table (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Revenue, Remaining Performance Obligation, Amount	$ 1,374,000
Deferred Revenue, Revenue Recognized	$ 40,360	$ 36,768
Expected recognition within the next year [Member]
Revenue, Remaining Performance Obligation, Percentage	36.00%
Expected recognition beyond the next year [Member] [Member]
Revenue, Remaining Performance Obligation, Percentage	55.00%

Business Acquisitions and Div_3

Business Acquisitions and Divestitures Fiscal 2018 Acquisitions (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020		Jun. 02, 2021	Mar. 31, 2021
Business Acquisition [Line Items]
Contingent consideration		$ 19,969		$ 19,969				$ 19,642
Gain (Loss) on Disposition of Business		15	$ 5	(404)	$ (5)	[1]
Net sales attributable to Cantel		312,903		414,661
Operating (loss) income attributable to Cantel		(57,946)		(191,136)
Business Combination, Acquisition Related Costs	[2]	$ 17,404	1,135	$ 158,400	2,421
Common Stock, Shares, Outstanding		99,911,000		99,911,000				85,353,000
Contingent Consideration Liability Assumed in Cantel Combination		$ 25,000		$ 25,000			$ 25,000
Business Acquisition, Pro Forma Revenue		1,196,985	1,035,265	2,370,504	1,905,139
Business Acquisition, Pro Forma Net Income (Loss)		137,375	$ 58,593	231,017	$ (62,106)
Operating Lease, Right-of-Use Asset		199,332		199,332				$ 150,142
Goodwill		5,132,697		$ 5,132,697				3,026,049
Consideration Paid [Table]				The total consideration for Cantel Common Stock and s tock equivalents was $3,599,471. The consideration was comprised of the following: (shares in thousands) Cash consideration $16.93 per Cantel share (42,816 shares) $ 716,412 Cash consideration for fractional shares 14 STERIS plc ordinary shares (14,297 shares at 188.07 per share) 2,689,317 Consideration related to Cantel equity compensation programs 18,173 Consideration related to equity component of Cantel convertible debt 175,555 Total purchase consideration $ 3,599,471
Cantel Medical Corp.
Business Acquisition [Line Items]
Business Combination, Acquisition Related Costs		$ 17,404		$ 158,400
Business Acquisition, Share Price							$ 16.93
Common Stock, Shares, Outstanding							42,816,000
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares		188.07		14,297,000
Cash		$ 169,073		$ 169,073
Accounts receivable		172,226		172,226
Inventory		271,132		271,132
Property, plant, and equipment		227,783		227,783
Operating Lease, Right-of-Use Asset		48,504		48,504
Other assets		65,837		65,837
Intangible assets		2,190,000		2,190,000
Goodwill		2,149,827		2,149,827				$ 0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets		5,294,382		5,294,382
Business combination, Convertible Debt, Par Value Assumed		168,000		168,000
Current liabilities		243,331		243,331
Business Combination, Recognized Identifiable Asset Acquired and Liability Assumed, Lease Obligation		40,768		40,768
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities		521,528		521,528
Business Combination, Long-term Obligations Assumed		721,284		721,284
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities		1,694,911		1,694,911
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		$ 3,599,471		$ 3,599,471
[1]	Certain amounts have been adjusted to reflect the change in inventory accounting method, as described in our Annual Report on Form 10-K filed with the SEC on May 28, 2021.
[2]	COVID-19 PandemicThe 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 surgical procedures and treatments and shelter-in-place orders or similar measures, negatively affected some of our operations, which impacted our operating results, 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. Also, the COVID-19 pandemic has caused and continues to cause disruptions in our supply chain and labor scarcity resulting in material and labor cost inflation. External factors such as policymaker decisions to remove certain restrictions, as they evaluate the continued infection rate and COVID-19 related deaths, the emergence of new variants of the virus, and the distribution of available vaccines create uncertainty regarding future demand from our Customers and the ability of our suppliers to meet our demands. However, order momentum has continued to improve and increased demand for certain capital equipment products strengthened from the fourth quarter of fiscal 2021.

Business Acquisitions and Div_4

Business Acquisitions and Divestitures Fiscal 2017 Acquisitions (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	[1]	Sep. 30, 2021	Sep. 30, 2020	[1]	Mar. 31, 2021
Business Acquisition [Line Items]
Revenues	$ 1,196,985	$ 756,132		$ 2,165,407	$ 1,425,064
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net [Abstract]
Goodwill	$ 5,132,697			$ 5,132,697			$ 3,026,049
[1]	Certain amounts have been adjusted to reflect the change in inventory accounting method, as described in our Annual Report on Form 10-K filed with the SEC on May 28, 2021.

Business Acquisitions and Div_5

Business Acquisitions and Divestitures Fiscal 2017 Divestitures (Details) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020		Sep. 30, 2021	Sep. 30, 2020	[1]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues	$ 1,196,985	$ 756,132	[1]	$ 2,165,407	$ 1,425,064
Pre-tax gain or loss on sale of business	$ (15)	$ (5)		$ 404	$ 5
[1]	Certain amounts have been adjusted to reflect the change in inventory accounting method, as described in our Annual Report on Form 10-K filed with the SEC on May 28, 2021.

Business Acquisitions and Div_6

Business Acquisitions and Divestitures Revenues by Type (Details) $ in Thousands		3 Months Ended		6 Months Ended
		Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)
Business Combinations [Abstract]
Entity Number of Employees		3,700		3,700
Business Combination, Acquisition Related Costs	[1]	$ 17,404	$ 1,135	$ 158,400	$ 2,421
Payments to Acquire Businesses, Net of Cash Acquired				547,353	$ 0	[2]
Business Combination Segment Allocation [Line Items]
Payments to Acquire Businesses, Gross				716,412
Business Combination, Consideration Transferred, Other				14
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable				2,689,317
Consideration Transferred, Equity Awards Issued and Issuable				18,173
Consideration related to equity component of convertible debt				175,555
Customer Relationships
Business Combination Segment Allocation [Line Items]
Intangible assets		2,060,000		$ 2,060,000
Finite-Lived Intangible Asset, Useful Life				10 years
Trade Names
Business Combination Segment Allocation [Line Items]
Intangible assets		130,000		$ 130,000
Finite-Lived Intangible Asset, Useful Life				10 years
Cantel Medical Corp.
Business Combinations [Abstract]
Business Combination, Acquisition Related Costs		17,404		$ 158,400
Business Combination Segment Allocation [Line Items]
Business Combination, Consideration Transferred				3,599,471
Intangible assets		$ 2,190,000		$ 2,190,000
[1]	COVID-19 PandemicThe 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 surgical procedures and treatments and shelter-in-place orders or similar measures, negatively affected some of our operations, which impacted our operating results, 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. Also, the COVID-19 pandemic has caused and continues to cause disruptions in our supply chain and labor scarcity resulting in material and labor cost inflation. External factors such as policymaker decisions to remove certain restrictions, as they evaluate the continued infection rate and COVID-19 related deaths, the emergence of new variants of the virus, and the distribution of available vaccines create uncertainty regarding future demand from our Customers and the ability of our suppliers to meet our demands. However, order momentum has continued to improve and increased demand for certain capital equipment products strengthened from the fourth quarter of fiscal 2021.
[2]	Certain amounts have been adjusted to reflect the change in inventory accounting method, as described in our Annual Report on Form 10-K filed with the SEC on May 28, 2021.

Inventories, Net Inventories,_2

Inventories, Net Inventories, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Raw materials	$ 193,836	$ 103,939
Work in process	79,426	54,283
Finished goods	313,033	176,623
Reserve for excess and obsolete inventory	(21,763)	(19,778)
Inventories, net	$ 564,532	$ 315,067

Property, Plant and Equipment_2

Property, Plant and Equipment Property, Plant and Equipment (Details) - USD ($) $ in Thousands		6 Months Ended
		Sep. 30, 2021	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment		Information related to the major categories of our depreciable assets is as follows: September 30, March 31, Land and land improvements (1) $ 83,479 $ 69,477 Buildings and leasehold improvements 678,945 567,132 Machinery and equipment 883,897 779,044 Information systems 225,890 193,222 Radioisotope 579,617 565,681 Construction in progress (1) 282,313 211,381 Total property, plant, and equipment 2,734,141 2,385,937 Less: accumulated depreciation and depletion (1,222,886) (1,150,537) Property, plant, and equipment, net $ 1,511,255 $ 1,235,400 (1) Land is not depreciated. Construction in progress is not depreciated until placed in service.
Property, Plant and Equipment [Line Items]
Land and land improvements	[1]	$ 83,479	$ 69,477
Buildings and leasehold improvements		678,945	567,132
Machinery and equipment		883,897	779,044
Radioisotope		579,617	565,681
Construction in progress	[1]	282,313	211,381
Total property, plant, and equipment		2,734,141	2,385,937
Less: accumulated depreciation and depletion		(1,222,886)	(1,150,537)
Property, plant, and equipment, net		1,511,255	1,235,400
Capitalized Computer Hardware/Software, Gross		$ 225,890	$ 193,222
[1]	Land is not depreciated. Construction in progress is not depreciated until placed in service.

Debt Debt (Details)

Debt Debt (Details) $ / shares in Units, $ in Thousands	May 15, 2020USD ($)$ / shares	Sep. 30, 2021USD ($)$ / shares	Jun. 30, 2021USD ($)	Jun. 02, 2021$ / sharesshares	Apr. 01, 2021USD ($)	Mar. 31, 2021USD ($)
Debt Disclosure [Abstract]
Schedule of Debt		Indebtedness was as follows: September 30, March 31, Short-term debt Term loan, current portion $ 13,750 $ — Delayed draw term loan, current portion 8,125 — Total short-term debt $ 21,875 $ — Long-term debt Private Placement $ 857,367 $ 860,308 Revolving Credit Facility 184,400 247,423 Deferred financing costs (27,243) (7,191) Term loan 411,250 550,000 Delayed draw term loan 641,875 — Senior public notes 1,350,000 — Financing leases 3,857 — Total long-term debt $ 3,421,506 $ 1,650,540 Total debt $ 3,443,381 $ 1,650,540
Debt Instrument [Line Items]
Private Placement		$ 857,367				$ 860,308
Deferred financing costs		27,243				7,191
Credit Agreement		184,400				247,423
Total long term debt		3,421,506				1,650,540
Finance Lease, Liability		3,857				0
Debt, Long-term and Short-term, Combined Amount		3,443,381				1,650,540
Short-term Debt		21,875				0
Long-Term Debt, Maturity, Year Two		142,875
Long-Term Debt, Maturity, Year Three		60,000
Long-Term Debt, Maturity, Year Four		165,938
Long-Term Debt, Maturity, Year Five		686,900
Long-Term Debt, Maturity, after Year Five		2,411,054
Long Term Debt Excluding Deferred Financing Fees		3,466,767
Term loan, current portion		13,750				0
Term Loan		411,250				550,000
Delayed Draw Term Loan		641,875	$ 650,000			0
Delayed draw term loan, current portion		$ 8,125				0
Business Acquisition, Shares Received Per Ordinary Share | shares				0.33787
Common Stock, Par or Stated Value Per Share | $ / shares		$ 0.001		$ 0.001
Debt Instrument, Convertible, Units of Property Reference				25.0843
Debt Instrument, Convertible, Parent Shares | shares				8.4752
Debt Instrument, Convertible, Cash Per One Thousand Dollars Ratio				424.68
Debt Instrument, Convertible, Increase in Conversion Rate, Shares | shares				0.9931
Debt Instrument, Convertible, Stock Price | $ / shares				$ 81.3520
Consideration related to equity component of convertible debt		$ 175,555
Convertible debt premium liability		203,361
Cantel Acquisition Assumed Debt Obligations		721,284
Cantel Convertible Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Convertible, Conversion Ratio	24.0912
Debt Instrument, Interest Rate, Stated Percentage	3.25%
Debt Instrument, Convertible, Conversion Price | $ / shares	$ 41.51
Debt Instrument, Convertible, Conversion Price | $ / shares	$ 41.51
Cantel Medical Corp.
Debt Instrument [Line Items]
Business Acquisition, Share Price | $ / shares				$ 16.93
Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount		1,350,000			$ 1,350,000	$ 0
Long-term Debt, Cash Settlement Value		371,361
Senior Notes | 2031 Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount					$ 675,000
Debt Instrument, Interest Rate, Stated Percentage					2.70%
Senior Notes | 2051 Notes
Debt Instrument [Line Items]
Debt Instrument, Face Amount					$ 675,000
Debt Instrument, Interest Rate, Stated Percentage					3.75%
Convertible Debt
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 168,000	$ 168,000

Additional Consolidated Balan_3

Additional Consolidated Balance Sheets Information Additional Consolidated Balance Sheets Information (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Mar. 31, 2021
Accrued payroll and other related liabilities:
Compensation and related items	$ 82,487	$ 47,157
Accrued vacation/paid time off	17,953	12,389
Accrued bonuses	66,999	62,530
Accrued employee commissions	16,180	24,022
Other postretirement benefit obligations-current portion	1,326	1,326
Other employee benefit plans obligations-current portion	2,528	2,654
Accrued expenses and other:
Deferred revenues	106,247	62,492
Service liabilities	45,662	46,720
Self-insured risk reserves-current portion	8,978	8,095
Accrued dealer commissions	33,298	27,348
Accrued warranty	13,416	9,406
Asset retirement obligation-current portion	1,174	1,193
Other	90,352	57,552
Total accrued expenses and other	308,937	220,557
Other liabilities:
Self-insured risk reserves-long-term portion	17,295	17,295
Other postretirement benefit obligations-long-term portion	7,955	8,690
Defined benefit pension plans obligations-long-term portion	2,583	3,748
Other employee benefit plans obligations-long-term portion	2,106	2,353
Accrued long-term income taxes	12,350	13,241
Asset retirement obligation-long-term portion	12,235	12,137
Long-term liabilities, other	29,069	30,546
Other Liabilities, Noncurrent	83,593	88,010
Employee-related Liabilities, Current	187,473	150,078
Accrued interest	$ 9,810	$ 7,751

Income Tax Expense Income Tax E

Income Tax Expense Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Effective Income Tax Rate, Continuing Operations	22.30%	20.80%	21.30%	19.30%
Uncertain Tax Liability Resulting From IRS Notice	$ 50,000		$ 50,000
Income Tax Examination, Estimate of Possible Loss			$ 12,000

Business Segment Information _2

Business Segment Information Business Segment Information (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Sep. 30, 2021	Sep. 30, 2020		Sep. 30, 2021	Sep. 30, 2020		Mar. 31, 2021
Segment Reporting Information [Line Items]
Revenues		$ 1,196,985	$ 756,132	[1]	$ 2,165,407	$ 1,425,064	[1]
Segment operating income		116,503	141,263	[1]	130,827	257,079	[1]
Restructuring Charges		210	(76)		224	90
Amortization of acquired intangible assets		74,791	21,955		116,531	39,455
Business Combination, Acquisition Related Costs	[2]	17,404	1,135		158,400	2,421
Impact of TCJA		159	384		110	554
Net loss on divestiture of businesses		(15)	(5)		404	5	[1]
Amortization of inventory and property step-up to fair value		69,486	714		94,276	1,317
COVID-19 incremental costs		0	4,539		0	13,209
Assets		11,752,448			11,752,448			$ 6,574,471
Property, Plant and Equipment, Net		1,511,255			1,511,255			1,235,400
Life Sciences
Segment Reporting Information [Line Items]
Revenues		132,327	115,658		253,798	232,570
Segment operating income		57,519	46,433		106,607	94,894
Applied Sterilization Technologies
Segment Reporting Information [Line Items]
Revenues		204,892	169,547		413,794	321,909
Segment operating income		99,789	76,835		201,716	140,790
Assets		3,029,090			3,029,090			2,974,289
Corporate
Segment Reporting Information [Line Items]
Segment operating income		(71,552)	(58,155)		(146,612)	(110,522)
Segment operating income
Segment Reporting Information [Line Items]
Revenues		1,196,985	756,132		2,165,407	1,425,064
Segment operating income		278,538	169,909		500,772	314,130
Healthcare [Member] [Member]
Segment Reporting Information [Line Items]
Revenues		744,134	470,927		1,346,951	870,585
Segment operating income		160,390	104,796		296,550	188,968
Healthcare and Life Sciences [Member]
Segment Reporting Information [Line Items]
Assets		5,398,177			5,398,177			3,600,182
Dental
Segment Reporting Information [Line Items]
Revenues		115,632	0		150,864	0
Segment operating income		32,392	0		42,511	0
Assets		$ 1,175,354			$ 1,175,354			0
Dental | Revenue Benchmark | Customer Concentration Risk
Segment Reporting Information [Line Items]
Concentration Risk, Percentage		40.60%			39.50%
Other foreign locations [Member]
Segment Reporting Information [Line Items]
Revenues		$ 324,442	189,593		$ 591,669	352,444
UNITED STATES
Segment Reporting Information [Line Items]
Revenues		852,497	549,449		1,531,747	1,041,157
Property, Plant and Equipment, Net		881,069			881,069			673,784
UNITED KINGDOM
Segment Reporting Information [Line Items]
Revenues		20,046	17,090		41,991	31,463
Property, Plant and Equipment, Net		53,784			53,784			52,140
Other Foreign Entities [Member]
Segment Reporting Information [Line Items]
Property, Plant and Equipment, Net		576,402			576,402			$ 509,476
Consumable revenues [Member] | Life Sciences
Segment Reporting Information [Line Items]
Revenues		61,748	55,793		118,284	114,635
Consumable revenues [Member] | Healthcare [Member] [Member]
Segment Reporting Information [Line Items]
Revenues		270,089	122,797		476,781	206,551
Sales Revenue, Services, Net [Member] | Life Sciences
Segment Reporting Information [Line Items]
Revenues		36,393	30,624		68,583	58,264
Sales Revenue, Services, Net [Member] | Healthcare [Member] [Member]
Segment Reporting Information [Line Items]
Revenues		271,640	216,457		516,875	404,279
Capital equipment revenues [Member] | Life Sciences
Segment Reporting Information [Line Items]
Revenues		34,186	29,241		66,931	59,671
Capital equipment revenues [Member] | Healthcare [Member] [Member]
Segment Reporting Information [Line Items]
Revenues		$ 202,405	$ 131,673		$ 353,295	$ 259,755
[1]	Certain amounts have been adjusted to reflect the change in inventory accounting method, as described in our Annual Report on Form 10-K filed with the SEC on May 28, 2021.
[2]	COVID-19 PandemicThe 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 surgical procedures and treatments and shelter-in-place orders or similar measures, negatively affected some of our operations, which impacted our operating results, 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. Also, the COVID-19 pandemic has caused and continues to cause disruptions in our supply chain and labor scarcity resulting in material and labor cost inflation. External factors such as policymaker decisions to remove certain restrictions, as they evaluate the continued infection rate and COVID-19 related deaths, the emergence of new variants of the virus, and the distribution of available vaccines create uncertainty regarding future demand from our Customers and the ability of our suppliers to meet our demands. However, order momentum has continued to improve and increased demand for certain capital equipment products strengthened from the fourth quarter of fiscal 2021.

Shares and Preferred Shares Ord

Shares and Preferred Shares Ordinary Shares (Details)	3 Months Ended		6 Months Ended
	Sep. 30, 2021$ / sharesshares	Sep. 30, 2020shares	Sep. 30, 2021$ / sharesshares	Sep. 30, 2020shares	Sep. 30, 2021EUR (€)shares	Jun. 02, 2021$ / shares
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Weighted average shares outstanding - basic	99,848,000	85,170,000	95,000,000	85,065,000
Dilutive effect of share equivalents	841,000	674,000	840,000	695,000
Weighted average shares outstanding and share equivalents - diluted	100,689,000	85,844,000	95,840,000	85,760,000
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			$ 0.001
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 0.001		$ 0.001
Deferred Ordinary Shares					25,000
Employee share option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of share options that are antidilutive	209,000	503,000	241,000	416,000
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)	Sep. 30, 2021$ / shares
Class of Stock [Line Items]
Preferred shares, par value	$ 0.001

Repurchases of Shares (Details)

Repurchases of Shares (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	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
Aggregate value of shares repurchased pursuant to authorization	$ 5,047
Shares obtained in connection with share based compensation award programs	130,678	76,286
Payments for shares obtained in connection with share based compensation programs	$ 24,751	$ 9,386

Share-Based Compensation Shar_2

Share-Based Compensation Share-Based Compensation (Details) - USD ($)	3 Months Ended	6 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Item]
Remaining shares available for grant	3,257,138	3,257,138
Weighted-average assumptions used for options granted:
Risk-free interest rate		1.16%	0.46%
Expected life of options		5 years 10 months 24 days	6 years
Exptected dividend yield of stock		0.97%	0.96%
Expected volatility of stock		24.37%	23.04%
Estimated forfeiture rate		2.85%	2.78%
Summary of share option activity:
Outstanding at March 31, 2017		1,637,047
Granted		214,734
Exercised		(112,199)
Forfeited		0
Outstanding at June 30, 2017	1,739,582	1,739,582
Exercisable at June 30, 2017	1,094,684	1,094,684
Weighted average exercise price:
Outstanding at March 31, 2017		$ 112.03
Granted		210.79
Exercised		68.78
Forfeited		0
Outstanding at June 30, 2017	$ 127.01	127.01
Exercisable at June 30, 2017	$ 99.58	$ 99.58
Average Remaining Contractual Term, Outstanding at June 30, 2017		6 years 8 months 12 days
Aggregate Intrinsic Value, Outstanding at June 30, 2017	$ 135,815,000	$ 135,815,000
Average Remaining Contractual Term, Exercisable at June 30, 2017		5 years 8 months 12 days
Aggregate Intrinsic Value, Exercisable at June 30, 2017	$ 114,798,000	$ 114,798,000
Non-vested stock options outstanding expected to vest	626,598	626,598
Ordinary shares, closing price	$ 204.28	$ 204.28
Total intrinsic value of stock options exercised		$ 16,076,000	$ 25,244,000
Net cash proceeds from the exercise of stock options		$ 7,829,000	$ 20,600,000
Weighted average grant date fair value of stock option grants, per share		$ 37.34	$ 27.66
Summary of non-vested restricted share activity:
Unrecognized compensation cost related to nonvested share-based compensation granted	$ 61,084,000	$ 61,084,000
Weighted Average Period For Total Compensation Expense Not Yet Recognized		2 years 2 months 12 days
Stock Appreciation Rights (SARs) [Member]
Weighted average exercise price:
FairValueOfOutstandingStockAppreciationRights			$ 448,000
Restricted Stock
Summary of non-vested restricted share activity:
Number of Restricted Shares, Non-vested at Beginning of Period		533,323
Weighted-Average Grant Date Fair Value, Non-vested at Beginning of Period		$ 121.35
Number of Restricted Shares, Granted		112,036
Weighted-Average Grant Date Fair Value, Granted		$ 192.85
Number of Restricted Shares, Vested		(170,619)
Weighted-Average Grant Date Fair Value, Vested		$ 96.19
Number of Restricted Shares, Canceled		(8,425)
Weighted-Average Grant Date Fair Value, Canceled		$ 153.97
Number of Restricted Shares, Non-vested at End of Period	466,315	466,315
Weighted-Average Grant Date Fair Value, Non-vested at End of Period	$ 148.57	$ 148.57
Fair Value, Share-based Payment Awards, Other than Options		$ 17,865,000
Restricted Stock Units (RSUs)
Weighted average exercise price:
Weighted average grant date fair value of stock option grants, per share	$ 191.18
Summary of non-vested restricted share activity:
Number of Restricted Shares, Non-vested at Beginning of Period		29,500
Number of Restricted Shares, Granted		14,189
Number of Restricted Shares, Vested		(15,534)
Number of Restricted Shares, Canceled		(430)
Number of Restricted Shares, Non-vested at End of Period	27,725	27,725
Share-based Payment Arrangement, Expense		$ 17,985,000
Restricted Stock or Unit Expense		$ 280,402
Share-based Compensation Arrangement by Share-based Payment Award, Conversion Ratio		0.4262
Share-based Compensation Arrangement by Share-based Payment Award, Grants in Period, Weighted Average Grant Date Fair Value Attributable to Pre-Acquisition Services	$ 18,173,000
Share-based Compensation Arrangement by Share-based Payment Award, Grants in Period, Weighted Average Grant Date Fair Value	$ 53,607,000
RSUs Cantel
Summary of non-vested restricted share activity:
Number of Restricted Shares, Non-vested at Beginning of Period		0
Weighted-Average Grant Date Fair Value, Non-vested at Beginning of Period		$ 0
Number of Restricted Shares, Granted		280,402
Weighted-Average Grant Date Fair Value, Granted		$ 191.18
Number of Restricted Shares, Vested		(157,821)
Weighted-Average Grant Date Fair Value, Vested		$ 191.18
Number of Restricted Shares, Canceled		(3,380)
Weighted-Average Grant Date Fair Value, Canceled		$ 191.18
Number of Restricted Shares, Non-vested at End of Period	119,201	119,201
Weighted-Average Grant Date Fair Value, Non-vested at End of Period	$ 191.18	$ 191.18
Unrecognized compensation cost related to nonvested share-based compensation granted	$ 12,521,000	$ 12,521,000

Financial and Other Guarantee_2

Financial and Other Guarantees Financial and Other Guarantees (Details) $ in Thousands	6 Months Ended
	Sep. 30, 2021USD ($)
Product Warranty Liability [Line Items]
Balance, March 31, 2017	$ 9,406
Warranties issued during the period	8,027
Settlement made during the period	(8,786)
Balance, June 30, 2017	13,416
Standard Product Warranty Accrual, Additions from Business Acquisition	$ 4,769

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		6 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)lb	Sep. 30, 2020USD ($)	Sep. 30, 2021MXN ($)	Sep. 30, 2021CAD ($)	Sep. 30, 2021EUR (€)	Sep. 30, 2021USD ($)	Mar. 31, 2021USD ($)
Derivative [Line Items]
Non-derivative Net Investment Hedge								$ 49,208
Prepaid & Other
Derivative [Line Items]
Asset derivatives								1,145	$ 57
Liability derivatives								0	0
Accrued expenses and other
Derivative [Line Items]
Asset derivatives								0	0
Liability derivatives								$ 57	$ 367
Foreign currency forward contracts | Selling, general, and administrative expense
Derivative [Line Items]
Gain (Loss) on Derivative Instruments, Net, Pretax	$ 1,143	$ (223)	$ 2,571	$ (80)
Commodity swap contracts
Derivative [Line Items]
Derivative, notional amount, weight | lb			384,000
Commodity swap contracts | Cost of Sales [Member]
Derivative [Line Items]
Gain (Loss) on Derivative Instruments, Net, Pretax	$ (28)	$ (386)	$ (693)	$ (751)
Mexican peso | Foreign currency forward contracts
Derivative [Line Items]
Liability derivatives					$ 39.9
Canadian dollar | Foreign currency forward contracts
Derivative [Line Items]
Liability derivatives						$ 5.1
Derivative Asset, Notional Amount						$ 7
euro | Foreign currency forward contracts
Derivative [Line Items]
Derivative Asset, Notional Amount | €							€ 54

Derivatives and Hedging Gain (L

Derivatives and Hedging Gain (Loss) on Derivatives, Income Statement Location (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Foreign currency forward contracts | Selling, general, and administrative expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in income	$ (1,143)	$ 223	$ (2,571)	$ 80
Commodity swap contracts | Cost of revenues
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in income	$ 28	$ 386	$ 693	$ 751

Fair Value Measurements Fair _2

Fair Value Measurements Fair Value Hierarchy (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2021
Reported Value Measurement [Member]
Assets:
Cash and cash equivalents		$ 383,494		$ 383,494		$ 220,531
Forward and swap contracts	[1]	1,145		1,145		57
Equity Securities, FV-NI	[2]	9,949		9,949		10,301
Investments		2,643		2,643		2,665
Liabilities:
Deferred compensation plans	[2]	1,927		1,927		1,715
Long term debt		3,439,524		3,439,524		1,650,540
Contingent consideration obligations		19,969		19,969		19,642
Foreign Currency Contracts, Liability, Fair Value Disclosure	[1]	57		57		367
Debt and Equity Securities, Gain (Loss)		213	$ 384	229	$ 74
Contingent consideration obligations		19,969		19,969		19,642
Level 1
Assets:
Cash and cash equivalents		383,494		383,494		220,531
Forward and swap contracts		0		0		0
Equity Securities, FV-NI	[2]	9,949		9,949		10,301
Investments		2,643		2,643		2,665
Liabilities:
Deferred compensation plans	[2]	1,927		1,927		1,715
Long term debt		0		0		0
Contingent consideration obligations		0		0		0
Foreign Currency Contracts, Liability, Fair Value Disclosure		0		0		0
Level 2
Assets:
Cash and cash equivalents		0		0		0
Forward and swap contracts	[1]	1,145		1,145		57
Equity Securities, FV-NI		0		0		0
Investments		0		0		0
Liabilities:
Deferred compensation plans		0		0		0
Long term debt		3,585,697		3,585,697		1,722,459
Contingent consideration obligations		0		0		0
Foreign Currency Contracts, Liability, Fair Value Disclosure	[1]	57		57		367
Level 3
Assets:
Cash and cash equivalents		0		0		0
Forward and swap contracts		0		0		0
Equity Securities, FV-NI		0		0		0
Investments		0		0		0
Liabilities:
Deferred compensation plans		0		0		0
Contingent consideration obligations	[3]	19,969		19,969		19,642
Debt Instrument, Fair Value Disclosure		0		0		0
Foreign Currency Contracts, Liability, Fair Value Disclosure		$ 0		$ 0		$ 0
[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 second quarter and first half of fiscal 2022, we recorded losses of $213 and $229, respectively, related to these investments
[3]	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		6 Months Ended
		Sep. 30, 2021	Jun. 02, 2021	Mar. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration		$ 19,969		$ 19,642
Contingent Consideration Liability Assumed in Cantel Combination		25,000	$ 25,000
Additions
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in contingent consideration		372
Payments
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in contingent consideration		(25,044)
Foreign currency translation adjustment
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in contingent consideration		(1)
Fair Value, Inputs, Level 3 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration	[1]	19,969		19,642
Fair value		$ 0		$ 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		6 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Debt Securities, Available-for-sale [Line Items]
Equity Securities, FV-NI, Gain (Loss)	$ (213)	$ (384)	$ (229)	$ (74)

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				6 Months Ended
		Sep. 30, 2021		Sep. 30, 2020		Sep. 30, 2021		Sep. 30, 2020		Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2020	Mar. 31, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax		$ (105,733)		$ (130,613)		$ (105,733)		$ (130,613)		$ (36,817)	$ (61,243)	$ (208,354)	$ (235,463)
Other Comprehensive Income (Loss), Net of Tax		(67,824)		78,575		(42,300)		106,518
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		(1,092)		(834)	[1]	(2,190)		(1,668)
Other Comprehensive (Loss) Income, Net of Tax, Portion Attributable to Parent		68,916		(77,741)	[2]	44,490		(104,850)	[2]
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		(6,533)		(7,833)		(6,533)		(7,833)		(6,026)	(5,519)	(7,323)	(6,813)
Other Comprehensive Income (Loss), Net of Tax		585		324		1,176		648
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	[3]	(1,092)		(834)		(2,190)		(1,668)
Other Comprehensive (Loss) Income, Net of Tax, Portion Attributable to Parent		507		510		1,014		1,020
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		(99,200)		(122,780)		(99,200)		(122,780)		$ (30,791)	$ (55,724)	$ (201,031)	$ (228,650)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax		(68,409)		78,251		(43,476)		105,870
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		0	[1]	0		0	[1]	0	[1]
Other Comprehensive (Loss) Income, Net of Tax, Portion Attributable to Parent		$ 68,409		$ (78,251)		$ 43,476		$ (105,870)
[1]	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.
[2]	Certain amounts have been adjusted to reflect the change in inventory accounting method, as described in our Annual Report on Form 10-K filed with the SEC on May 28, 2021.
[3]	The amortization (gain) of defined benefit pension items is reported in the Interest income and miscellaneous expense line of our Consolidated Statements of Income.