STERIS (STE) 10-Q 9 Feb 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information Document - shares	9 Months Ended
	Dec. 31, 2021	Feb. 04, 2022
Entity Information [Line Items]
Entity Registrant Name	STERIS plc
Entity Central Index Key	0001757898
Document Type	10-Q
Document Period End Date	Dec. 31, 2021
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
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		100,127,204
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	Dec. 31, 2021	Mar. 31, 2021
Current assets:
Cash and cash equivalents	$ 359,089	$ 220,531
Accounts receivable (net of allowances of $21,120 and $11,355 respectively)	752,132	609,406
Inventories, net	594,599	315,067
Prepaid expenses and other current assets	221,274	66,750
Total current assets	1,927,094	1,211,754
Property, plant, and equipment, net	1,521,587	1,235,400
Lease right-of-use assets, net	194,026	150,142
Goodwill	5,115,323	3,026,049
Intangible Assets, Net (Excluding Goodwill)	2,876,041	898,406
Other assets	55,895	52,720
Total assets	11,689,966	6,574,471
Current liabilities:
Accounts payable	207,152	156,950
Accrued income taxes	23,882	27,561
Accrued payroll and other related liabilities	180,525	150,078
Capital Lease Obligations, Current	36,414	22,774
Short-term Debt	127,875	0
Accrued expenses and other	328,459	220,557
Total current liabilities	904,307	577,920
Long-term indebtedness	3,175,316	1,650,540
Deferred Income Taxes and Other Tax Liabilities, Noncurrent	752,459	236,860
Capital Lease Obligations, Noncurrent	159,452	129,673
Other Liabilities, Noncurrent	74,763	88,010
Total liabilities	5,066,297	2,683,003
Commitments and contingencies (see Note 8)
Ordinary shares, with $0.001 par value; 500,000 authorized; 100,111 and 85,353 shares issued and outstanding, respectively	4,758,199	2,002,825
Retained earnings	1,989,870	1,939,408
Accumulated other comprehensive income	(136,878)	(61,243)
Total shareholders' equity	6,611,191	3,880,990
Noncontrolling interest	12,478	10,478
Total equity	6,623,669	3,891,468
Total liabilities and equity	$ 11,689,966	$ 6,574,471

CONSOLIDATED BALANCE SHEETS (_2

CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Dec. 31, 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 (in shares)	100,111	85,353
Allowance for Doubtful Accounts Receivable, Current	$ 21,120	$ 11,355

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	[1]	Dec. 31, 2021	Dec. 31, 2020
Revenues:
Revenues	$ 1,208,971	$ 808,924		$ 3,374,378	$ 2,233,988	[1]
Cost of revenues:
Total cost of revenues	670,857	463,063		1,929,638	1,270,706	[1]
Gross Profit	538,114	345,861		1,444,740	963,282	[1]
Operating expenses:
Selling, general, and administrative	310,564	182,373		1,049,116	510,250	[1]
Research and development	24,824	16,438		61,847	48,812	[1]
Restructuring Costs	(207)	20		17	110	[1]
Total operating expenses	335,181	198,831		1,110,980	559,172	[1]
Income from operations	202,933	147,030		333,760	404,110	[1]
Non-operating expenses, net:
Interest expense	22,971	8,899		67,820	27,056	[1]
Fair value adjustment related to convertible debt, premium liability	0	0		27,806	0	[1]
Interest income and miscellaneous expense	(2,447)	(1,299)		(4,905)	(4,776)	[1]
Total non-operating expenses, net	20,524	7,600		90,721	22,280	[1]
Income before income tax expense	182,409	139,430		243,039	381,830	[1]
Income tax expense	39,315	24,842		52,222	71,703	[1]
Net Income	143,094	114,588		190,817	310,127	[1]
Less: Net Income Attributable to Noncontrolling Interest	(529)	87		(810)	171	[2]
Net income (loss) attributable to shareholders	$ 143,623	$ 114,501		$ 191,627	$ 309,956	[2]
Net income per common share [Abstract]
Basic	$ 1.44	$ 1.34		$ 1.98	$ 3.64	[1]
Diluted	1.42	1.33		1.97	3.61	[1]
Cash dividends declared per common share outstanding	$ 0.43	$ 0.40		$ 1.26	$ 1.17	[1]
Product [Member]
Revenues:
Revenues	$ 697,256	$ 375,314		$ 1,871,773	$ 1,015,926	[1]
Cost of revenues:
Cost of Goods and Services Sold	373,793	202,881		1,072,683	533,418	[1]
Service [Member]
Revenues:
Revenues	511,715	433,610		1,502,605	1,218,062	[1]
Cost of revenues:
Cost of Goods and Services Sold	$ 297,064	$ 260,182		$ 856,955	$ 737,288	[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			9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2021	Dec. 31, 2020
Net income	$ 143,094	$ 114,588	[1]	$ 190,817	$ 310,127	[1]
Less: Net Income Attributable to Noncontrolling Interest	(529)	87	[1]	(810)	171	[2]
Net Income (Loss) Attributable to Parent	143,623	114,501	[1]	191,627	309,956	[2]
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]	(1,521)	(1,530)	[2]
Change in cumulative foreign current translation adjustment	(30,638)	128,737	[2]	(74,114)	234,607	[2]
Total other comprehensive (loss) income	(31,145)	128,227	[2]	(75,635)	233,077	[2]
Comprehensive income	$ 112,478	$ 242,728	[2]	$ 115,992	$ 543,033	[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		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Amortization of pension and postretirement benefits plans costs, tax	$ 174	$ 173	$ 523	$ 520

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating activities:
Net income	$ 190,817	$ 310,127	[1]
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, depletion, and amortization	319,273	160,193	[1]
Deferred income taxes	3,141	(842)	[1]
Share-based compensation expense	47,909	19,924	[1]
Loss on the disposal of property, plant, equipment, and intangibles, net	863	865	[1]
Loss on sale of businesses, net	893	5	[1]
Fair value adjustment related to convertible debt, premium liability	27,806	0	[1]
Amortization of inventory fair value adjustments	86,665	0	[1]
Other items	(1,520)	4,494	[1]
Changes in operating assets and liabilities, net of effects of acquisitions:
Accounts receivable, net	21,493	60,574	[1]
Inventories, net	(92,138)	(9,334)	[1]
Other current assets	(63,393)	(8,906)	[1]
Accounts payable	(11,053)	(30,974)	[1]
Accruals and other, net	(17,676)	(4,341)	[1]
Net cash provided by operating activities	513,080	501,785	[1]
Investing activities:
Purchases of property, plant, equipment, and intangibles, net	(214,491)	(164,497)	[1]
Proceeds from the sale of property, plant, equipment and intangibles	1,709	417	[1]
Acquisition of businesses, net of cash acquired	(547,353)	(869,431)	[1]
Other	0	(2,392)	[1]
Net cash used in investing activities	(760,135)	(1,035,903)	[1]
Financing activities:
Proceeds from issuance of senior public notes	1,350,000	0	[1]
Proceeds from term loans	650,000	550,000	[2]
Payments on term loans	(125,000)	0	[1]
Payments on long-term obligations	(721,284)	(35,000)	[1]
Payments on convertible debt	(371,361)	0	[1]
Proceeds (payments) under credit facilities, net	(203,805)	23,782	[1]
Deferred financing fees and debt issuance costs	(17,247)	(3,122)	[1]
Acquisition related deferred or contingent consideration	(32,583)	(2,968)	[1]
Repurchases of ordinary shares	(27,628)	(14,560)	[1]
Cash dividends paid to ordinary shareholders	(120,118)	(99,696)	[1]
Distributions to noncontrolling interest	(997)	(627)	[1]
Contributions from noncontrolling interest	3,672	2,258	[1]
Payment for acquisition of subsidiary's interests in noncontrolling interest	0	(3,552)	[2]
Stock option and other equity transactions, net	6,789	26,018	[1]
Net cash provided by financing activities	390,438	442,533	[1]
Effect of exchange rate changes on cash and cash equivalents	(4,825)	24,506	[1]
Increase (decrease) in cash and cash equivalents	138,558	(67,079)	[1]
Cash and cash equivalents at beginning of period	220,531	319,581	[1]
Cash and cash equivalents at end of period	$ 359,089	$ 252,502	[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 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		309,956	[2]					309,956	[1]
Net Income (Loss) Attributable to Noncontrolling Interest		171	[2]	171	[1]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	[1]	310,127
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent		233,077	[2]			233,077	[1]
Treasury Stock, Shares, Acquired	[1]									121
Payments for Repurchase of Common Stock	[1]	14,560						(16,505)		$ 31,065
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	[1]									534
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures	[1]	45,744								$ 45,744
Dividends, Common Stock, Cash	[1]	99,696						99,696
Contributions from noncontrolling interest		(627)		(627)
Payment for acquisition of subsidiary's interests in noncontrolling interest		3,552		3,552
Increase (Decrease) In Noncontrolling Interests, Other	[1]	104		104
Noncontrolling Interest, Increase from Contributions to Noncontrolling Interest Holders	[1]	$ 2,258		2,258
Common Stock, Dividends, Per Share, Cash Paid		$ 1.17
Net Income (Loss) Attributable to Parent		$ 309,956	[2]					309,956	[1]
Net Income (Loss) Attributable to Noncontrolling Interest		171	[2]	171	[1]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	[1]	310,127
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent		233,077	[2]			233,077	[1]
Treasury Stock, Shares, Acquired	[1]									(121)
Payments for Repurchase of Common Stock	[1]	(14,560)						16,505		$ (31,065)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	[1]									534
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures	[1]	45,744								$ 45,744
Dividends, Common Stock, Cash	[1]	(99,696)						(99,696)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	[1]	3,675,348		15,310		(130,613)		1,799,771		$ 1,990,880
Shares, Issued	[1]									85,251
Net Income (Loss) Attributable to Parent	[1]	114,501						114,501
Net Income (Loss) Attributable to Noncontrolling Interest	[1]	87		87
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	[1]	114,588
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent		128,227	[2]			128,227	[1]
Treasury Stock, Shares, Acquired	[1]									9
Payments for Repurchase of Common Stock	[1]	127						(5,290)		$ 5,417
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	[1]									95
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures	[1]	11,380								$ 11,380
Dividends, Common Stock, Cash	[1]	34,136						34,136
Contributions from noncontrolling interest		(627)		(627)
Payment for acquisition of subsidiary's interests in noncontrolling interest		3,552		3,552
Increase (Decrease) In Noncontrolling Interests, Other	[1]	$ (16)		(16)
Common Stock, Dividends, Per Share, Cash Paid		$ 0.40
Net Income (Loss) Attributable to Parent	[1]	$ 114,501						114,501
Net Income (Loss) Attributable to Noncontrolling Interest	[1]	87		87
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	[1]	114,588
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent		128,227	[2]			128,227	[1]
Treasury Stock, Shares, Acquired	[1]									(9)
Payments for Repurchase of Common Stock	[1]	(127)						5,290		$ (5,417)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures	[1]									95
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures	[1]	11,380								$ 11,380
Dividends, Common Stock, Cash	[1]	(34,136)						(34,136)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	[1]	3,891,085
Stockholders' Equity Attributable to Parent	[1]					(2,386)		1,885,426		$ 1,996,843
Noncontrolling interest	[1]			11,202
Shares, Issued	[1]									85,337
Stockholders' Equity Attributable to Parent	[1]					(2,386)		1,885,426		$ 1,996,843
Stockholders' Equity Attributable to Noncontrolling Interest	[1]			11,202
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		191,627						191,627
Net Income (Loss) Attributable to Noncontrolling Interest		(810)		(810)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		190,817
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent		(75,635)				(75,635)
Treasury Stock, Shares, Acquired										225
Payments for Repurchase of Common Stock		27,628						21,047		$ 6,581
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures										686
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures		54,465								$ 54,465
Dividends, Common Stock, Cash		120,118						120,118
Contributions from noncontrolling interest		(997)		(997)
Increase (Decrease) In Noncontrolling Interests, Other		135		135
Noncontrolling Interest, Increase from Contributions to Noncontrolling Interest Holders		3,672		3,672
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		$ 1.26
Net Income (Loss) Attributable to Parent		$ 191,627						191,627
Net Income (Loss) Attributable to Noncontrolling Interest		(810)		(810)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		190,817
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent		(75,635)				(75,635)
Treasury Stock, Shares, Acquired										(225)
Payments for Repurchase of Common Stock		(27,628)						(21,047)		$ (6,581)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures										686
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures		54,465								$ 54,465
Dividends, Common Stock, Cash		(120,118)						(120,118)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		6,544,931		9,287		(105,733)		1,893,196		$ 4,748,181
Shares, Issued										99,911
Net Income (Loss) Attributable to Parent		143,623						143,623
Net Income (Loss) Attributable to Noncontrolling Interest		(529)		(529)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		143,094
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent		(31,145)				(31,145)
Treasury Stock, Shares, Acquired										95
Payments for Repurchase of Common Stock		2,877						3,938		$ (1,061)
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures										295
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures		8,957								$ 8,957
Dividends, Common Stock, Cash		43,011						43,011
Increase (Decrease) In Noncontrolling Interests, Other		48		48
Noncontrolling Interest, Increase from Contributions to Noncontrolling Interest Holders		$ 3,672		3,672
Common Stock, Dividends, Per Share, Cash Paid		$ 0.43
Net Income (Loss) Attributable to Parent		$ 143,623						143,623
Net Income (Loss) Attributable to Noncontrolling Interest		(529)		(529)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		143,094
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent		(31,145)				(31,145)
Treasury Stock, Shares, Acquired										(95)
Payments for Repurchase of Common Stock		(2,877)						(3,938)		$ 1,061
Stock Issued During Period, Shares, Share-based Compensation, Net of Forfeitures										295
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures		8,957								$ 8,957
Dividends, Common Stock, Cash		(43,011)						(43,011)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest		6,623,669
Stockholders' Equity Attributable to Parent		6,611,191				(136,878)		1,989,870		$ 4,758,199
Noncontrolling interest		12,478		12,478
Shares, Issued										100,111
Stockholders' Equity Attributable to Parent		6,611,191				$ (136,878)		$ 1,989,870		$ 4,758,199
Stockholders' Equity Attributable to Noncontrolling Interest		$ 12,478		$ 12,478
[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)	9 Months Ended
	Dec. 31, 2021
Notes To Financial Statements [Abstract]
Significant Accounting Policies	Nature of Operations and Summary of Significant Accounting Policies Nature of Operations S TERIS is a leading global provider of products and services that support patient care with an emphasis on infection prevention. WE HELP OUR CUSTOMERS CREATE A HEALTHIER AND SAFER WORLD by providing innovative healthcare, life sciences and dental products and services. 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, 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 nine month periods ended December 31, 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 December 31, 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 nine months of fiscal 2022, $42,942 of the March 31, 2021 deferred revenue balance was recorded as revenue. During the first nine months of fiscal 2021, $38,181 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 December 31, 2021, the transaction price allocated to remaining performance obligations was approximately $1,570,000. We expect to recognize approximately 54% 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 This standard simplifies the accounting for convertible instruments and its application of the derivatives scope exception for contracts in an entity’s own equity. The standard reduces the number of accounting models that require separating embedded conversion features from convertible instruments. As a result, only conversion features accounted for under the substantial premium model and those that require bifurcation will be accounted for separately. For contracts in an entity’s own equity, the new standard eliminates some of the current requirements for equity classification. The standard also addresses how convertible instruments are accounted for in the diluted earnings per share calculation and requires enhanced disclosures about the terms of convertible instruments and contracts in an entity’s own equity. 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"). Standards that have not yet been adopted. ASU 2021-08 "Business Combinations (Topic 805) Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. October 2021 The standard provides guidance to improve the accounting for acquired revenue contracts with Customers in a business combination by addressing diversity in practice and inconsistency related to the recognition of an acquired contract liability and payment terms and their effect on subsequent revenue recognized by the acquirer. The standard is effective for annual periods beginning after December 15, 2022 including interim periods within that year and early adoption is permitted. NA We are in the process of evaluating the impact that the standard will have on our consolidated financial statements. A detailed description of our significant and critical accounting policies, estimates, and assumptions is included in our consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 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)	9 Months Ended
	Dec. 31, 2021
Business Acquisitions and Divestitures [Abstract]
Business Combination Disclosure	Business Acquisitions And Divestitures On June 2, 2021, we acquired all outstanding equity interests in Cantel Medical LLC. ("Cantel") through a U.S. subsidiary. Cantel, formerly 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 was 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 is 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 $9,026 and $167,426 for the third quarter and first nine months 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 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 preliminary as of December 31, 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 December 31, 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 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 December 31, 2021. Net sales and operating income (loss) attributable to Cantel and included in our consolidated financial statements for the three-month period ended December 31, 2021 total $306,522 and $15,958, respectively. Net sales and operating income (loss) attributable to Cantel from the date of acquisition and included in our consolidated financial statements for the nine-month period ended December 31, 2021 total $721,183 and $(175,178), 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 nine-month periods ended December 31, 2021 and 2020. Three Months Ended December 31, Nine Months Ended December 31 (unaudited) (unaudited) 2021 2020 2021 2020 Net revenues $ 1,208,971 $ 1,106,542 $ 3,579,475 $ 3,011,681 Net income (loss) from continuing operations 152,176 92,903 383,193 30,797 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)	9 Months Ended
	Dec. 31, 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: December 31, March 31, (*as adjusted) Raw materials $ 210,358 $ 103,939 Work in process 77,339 54,283 Finished goods 334,531 176,623 Reserve for excess and obsolete inventory (27,629) (19,778) Inventories, net $ 594,599 $ 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)	9 Months Ended
	Dec. 31, 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: December 31, March 31, Land and land improvements (1) $ 80,783 $ 69,477 Buildings and leasehold improvements 639,928 567,132 Machinery and equipment 885,656 779,044 Information systems 223,722 193,222 Radioisotope 589,273 565,681 Construction in progress (1) 341,042 211,381 Total property, plant, and equipment 2,760,404 2,385,937 Less: accumulated depreciation and depletion (1,238,817) (1,150,537) Property, plant, and equipment, net $ 1,521,587 $ 1,235,400 (1) Land is not depreciated. Construction in progress is not depreciated until placed in service.

Debt (Notes)

Debt (Notes)	9 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt	Debt Indebtedness was as follows: December 31, March 31, Short-term debt Term loan, current portion $ 20,625 $ — Delayed draw term loan, current portion 16,250 — Private Placement 91,000 — Total short-term debt $ 127,875 $ — Long-term debt Private Placement $ 763,278 $ 860,308 Revolving Credit Facility 46,538 247,423 Deferred financing costs (26,307) (7,191) Term loan 404,375 550,000 Delayed draw term loan 633,750 — Senior public notes 1,350,000 — Financing leases 3,682 — Total long-term debt $ 3,175,316 $ 1,650,540 Total debt $ 3,303,191 $ 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 was 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 549,038 2027 and thereafter 2,407,965 Total $ 3,325,816

Additional Consolidated Balance

Additional Consolidated Balance Sheets Information (Notes)	9 Months Ended
	Dec. 31, 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: December 31, March 31, Accrued payroll and other related liabilities: Compensation and related items $ 83,919 $ 47,157 Accrued vacation/paid time off 14,692 12,389 Accrued bonuses 59,079 62,530 Accrued employee commissions 18,962 24,022 Other postretirement benefit obligations-current portion 1,326 1,326 Other employee benefit plans obligations-current portion 2,547 2,654 Total accrued payroll and other related liabilities $ 180,525 $ 150,078 Accrued expenses and other: Deferred revenues $ 106,329 $ 62,492 Service liabilities 44,503 46,720 Self-insured risk reserves-current portion 11,320 8,095 Accrued dealer commissions 37,037 27,348 Accrued warranty 13,999 9,406 Asset retirement obligation-current portion 1,186 1,193 Accrued Interest 18,209 7,751 Other 95,876 57,552 Total accrued expenses and other $ 328,459 $ 220,557 Other liabilities: Self-insured risk reserves-long-term portion $ 17,295 $ 17,295 Other postretirement benefit obligations-long-term portion 7,809 8,690 Defined benefit pension plans obligations-long-term portion 1,211 3,748 Other employee benefit plans obligations-long-term portion 2,175 2,353 Accrued long-term income taxes 12,350 13,241 Asset retirement obligation-long-term portion 12,066 12,137 Other 21,857 30,546 Total other liabilities $ 74,763 $ 88,010

Income Tax Expense (Notes)

Income Tax Expense (Notes)	9 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Tax Expense	Income Tax Expense The effective income tax rates for the three month periods ended December 31, 2021 and 2020 were 21.6% and 17.8%, respectively. The effective income tax rates for the nine month periods ended December 31, 2021 and 2020 were 21.5% and 18.8%, 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 reflects the impact of 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. We are no longer subject to United States federal examinations for years before fiscal 2018 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. W e 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 recorded an estimate of the total federal, state, and local tax impact of the settlement of approximately $12,000, for the fiscal years 2016 through 2020.

Contingencies (Notes)

Contingencies (Notes)	9 Months Ended
	Dec. 31, 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)	9 Months Ended
	Dec. 31, 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 and endoscopy suites. 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 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 nine months ended December 31, 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 consistently account for more than 40.0% of our Dental segment revenue. The percentage associated with these three Customers collectively in any one period may vary due to the buying patterns of these three Customers as well as other Dental Customers. These three Customers collectively accounted for appr oximately 55.8% and 46.1% of our Dental segment revenues for the three months and nine months ended December 31, 2021, respectively. Additional informatio n regarding certain of 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 December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Revenues: (*as adjusted) (*as adjusted) Healthcare $ 759,675 $ 521,662 $ 2,106,626 $ 1,392,247 Applied Sterilization Technologies 216,298 176,462 630,092 498,371 Life Sciences 127,908 110,800 381,706 343,370 Dental 105,090 — 255,954 — Total revenues $ 1,208,971 $ 808,924 $ 3,374,378 $ 2,233,988 Operating income (loss): Healthcare $ 169,267 $ 115,412 $ 465,817 $ 304,380 Applied Sterilization Technologies 101,343 81,626 303,059 222,416 Life Sciences 52,032 41,541 158,639 136,435 Dental 23,096 — 65,607 — Corporate (55,849) (47,941) (202,461) (158,463) Total operating income before adjustments $ 289,889 $ 190,638 $ 790,661 $ 504,768 Less: Adjustments Amortization of acquired intangible assets (1) $ 75,021 $ 23,194 $ 191,552 $ 62,648 Acquisition and integration related charges (2) 9,298 11,563 167,698 13,984 Redomiciliation and tax restructuring costs (3) 118 296 228 850 (Gain) on fair value adjustment of acquisition related contingent consideration (1) — (500) — (500) Net loss on divestiture of businesses (1) 489 — 893 5 Amortization of inventory and property "step up" to fair value (1) 2,237 1,784 96,513 3,101 COVID-19 incremental costs (4) — 7,251 — 20,460 Restructuring (credit) charges (5) (207) 20 17 110 Total operating income $ 202,933 $ 147,030 $ 333,760 $ 404,110 *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 Divestitures" 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 December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Healthcare: Capital equipment $ 217,214 $ 147,855 $ 570,509 $ 407,610 Consumables 273,750 148,839 750,531 355,390 Service 268,711 224,968 785,586 629,247 Total Healthcare Revenues $ 759,675 $ 521,662 $ 2,106,626 $ 1,392,247 Applied Sterilization Technologies Service Revenues $ 216,298 $ 176,462 $ 630,092 $ 498,371 Life Sciences: Capital equipment $ 30,412 $ 28,993 $ 97,343 $ 88,664 Consumables 61,096 49,627 179,380 164,262 Service 36,400 32,180 104,983 90,444 Total Life Sciences Revenues $ 127,908 $ 110,800 $ 381,706 $ 343,370 Dental Revenues $ 105,090 $ — $ 255,954 $ — Total Revenues $ 1,208,971 $ 808,924 $ 3,374,378 $ 2,233,988 Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Revenues: Ireland $ 20,086 $ 20,316 $ 62,077 $ 51,779 United States 851,292 572,397 2,383,039 1,613,554 Other locations 337,593 216,211 929,262 568,655 Total Revenues $ 1,208,971 $ 808,924 $ 3,374,378 $ 2,233,988 December 31, 2021 March 31, 2021 Property, Plant, and Equipment, Net Ireland $ 54,977 $ 52,140 United States 859,601 673,784 Other locations 607,009 509,476 Property, Plant, and Equipment, Net $ 1,521,587 $ 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. December 31, 2021 March 31, 2021 Assets: Healthcare and Life Sciences $ 5,374,009 $ 3,600,182 Applied Sterilization Technologies 3,047,602 2,974,289 Dental 1,118,528 — Cantel related goodwill not yet allocated (1) 2,149,827 — Total assets $ 11,689,966 $ 6,574,471 (1) Amount is still preliminary as of December 31, 2021, as valuations have not been finalized. For the purpose of our annual Goodwill testing performed at October 31, 2021, the preliminary allocation of Goodwill by business segment was approximately $1,336,000 and $814,000 to the Healthcare and Life Sciences, and the Dental business segments, respectively. The increase in total assets for the December 31, 2021 period is primarily related to the acquisition of Cantel. Refer to Note 2 titled, "Business Acquisitions and Divestiures," for more information.

Shares and Preferred Shares (No

Shares and Preferred Shares (Notes)	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, Denominator (shares in thousands): 2021 2020 2021 2020 Weighted average shares outstanding—basic 100,038 85,330 96,679 85,153 Dilutive effect of share equivalents 788 702 823 698 Weighted average shares outstanding and share equivalents—diluted 100,826 86,032 97,502 85,851 Options to purchase the following number of shares were outstanding but excluded from the computation of diluted earnings per share because the combined exercise prices, unamortized fair values, and assumed tax benefits upon exercise were greater than the average market price for the shares during the periods, so including these options would be anti-dilutive: Three Months Ended December 31, Nine Months Ended December 31, (shares in thousands) 2021 2020 2021 2020 Number of share options 271 278 251 370 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	9 Months Ended
	Dec. 31, 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 December 31, 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. The suspension has been lifted effective February 10, 2022, enabling the Company to resume stock repurchases pursuant to the prior authorizations. 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)	9 Months Ended
	Dec. 31, 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 December 31, 2021, 3,139,888 ordinary shares remained available for grant under the long-term incentive plan. The fair value of stock option awards was estimated at their grant date using the Black-Scholes-Merton option pricing model. This model was developed for use in estimating the fair value of traded options that have no vesting restrictions and are fully transferable, characteristics that are not present in our option grants. If the model permitted consideration of the unique characteristics of employee stock options, the resulting estimate of the fair value of the stock options could be different. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in our Consolidated Statements of Income. The expense is classified as cost of goods sold or selling, general and administrative expenses in a manner consistent with the employee’s compensation and benefits. The following weighted-average assumptions were used for options granted during the first nine months of fiscal 2022 and 2021: Fiscal 2022 Fiscal 2021 Risk-free interest rate 1.10 % 0.46 % Expected life of options 5.9 years 6.0 years Expected dividend yield of stock 0.95 % 0.96 % Expected volatility of stock 24.27 % 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 284,566 215.10 Exercised (304,341) 82.95 Forfeited (4,043) 128.11 Outstanding at December 31, 2021 1,613,229 $ 135.66 6.8 years $ 173,829 Exercisable at December 31, 2021 904,909 $ 101.43 5.5 years $ 128,481 We estimate that 690,359 of the non-vested stock options outstanding at December 31, 2021 will ultimately vest. The aggregate intrinsic value in the table above represents the total pre-tax difference between the $243.41 closing price of our ordinary shares on December 31, 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 nine months of fiscal 2022 and fiscal 2021 was $43,425 and $36,850, respectively. Net cash proceeds from the exercise of stock options were $6,789 and $26,018 for the first nine months of fiscal 2022 and fiscal 2021, respectively. The weighted average grant date fair value of stock option grants was $37.52 and $27.66 for the first nine 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 December 31, 2021, we no longer have outstanding SARS. The fair value of the outstanding SARS as of December 31, 2020 was $491. 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 163,120 21,437 197.51 Vested (174,509) (15,621) 96.30 Forfeited (15,050) (620) 161.59 Non-vested at December 31, 2021 506,884 34,696 $ 155.01 Restricted shares granted are valued based on the closing stock price at the grant date. The value of restricted shares and units that vested during the first nine months of fiscal 2022 at the time of grant was $18,267. As of December 31, 2021, there was a total of $66,715 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. These Cantel awards consisted of time, performance and market based awards. 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 nine months of fiscal 2022, recognition of unamortized share-based compensation expense totaling $ 18,861 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 December 31, 2021, there was a total of $9,248 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 (209,878) 191.18 Forfeited (7,602) 191.18 Non-vested at December 31, 2021 62,922 $ 191.18

Financial and Other Guarantees(

Financial and Other Guarantees(Notes)	9 Months Ended
	Dec. 31, 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 nine 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 12,835 Settlements made during the period (13,011) Balance, December 31, 2021 $ 13,999

Deritvatives and Hedging (Notes

Deritvatives and Hedging (Notes)	9 Months Ended
	Dec. 31, 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 third 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 December 31, 2021, we held foreign currency forward contracts to buy 19.9 million Mexican pesos and 2.6 million Canadian dollars; and to sell 14.0 million euros. At December 31, 2021 we held commodity swap contracts to buy 192.0 thousand pounds of nickel. Asset Derivatives Liability Derivatives Fair Value at Fair Value at Fair Value at Fair Value at Balance sheet location December 31, 2021 March 31, 2021 December 31, 2021 March 31, 2021 Prepaid & Other $ 685 $ 57 $ — $ — Accrued expenses and other $ — $ — $ 91 $ 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 December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Foreign currency forward contracts Selling, general and administrative $ 1,707 $ 741 $ 4,279 $ 661 Commodity swap contracts Cost of revenues $ 417 $ 153 $ 1,110 $ 904

Fair Value Measurements (Notes)

Fair Value Measurements (Notes)	9 Months Ended
	Dec. 31, 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 December 31, 2021 and March 31, 2021: Fair Value Measurements Carrying Value Quoted Prices Significant Other Significant Level 1 Level 2 Level 3 December 31, March 31, December 31, March 31, December 31, March 31, December 31, March 31, Assets: Cash and cash equivalents $ 359,089 $ 220,531 $ 359,089 $ 220,531 $ — $ — $ — $ — Forward and swap contracts (1) 685 57 — — 685 57 — — Equity investments (2) 9,957 10,301 9,957 10,301 — — — — Other investments 2,571 2,665 2,571 2,665 — — — — Liabilities: Forward and swap contracts (1) $ 91 $ 367 $ — $ — $ 91 $ 367 $ — $ — Deferred compensation plans (2) 2,062 1,715 2,062 1,715 — — — — Total debt (3) 3,299,509 1,650,540 — — 3,432,856 1,722,459 — — Contingent consideration obligations (4) 12,864 19,642 — — — — 12,864 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 third quarter and first nine months of fiscal 2022, we recorded gains (losses) of $28 and $(200), respectively, related to these investments. During the third quarter and first nine months of fiscal 2021, we recorded gains of $210 and $138, 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 December 31, 2021 are summarized as follows: Contingent Consideration Balance at March 31, 2021 $ 19,642 Liabilities assumed in acquisition of Cantel 25,000 Additions 540 Payments (32,302) Currency translation adjustments (16) Balance at December 31, 2021 $ 12,864

Reclassifications out of Accumu

Reclassifications out of Accumulated Other Comprehensive Income Reclassification out of Accumulated Other Comprehensive Income (Notes)	9 Months Ended
	Dec. 31, 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 December 31, 2021 and 2020 were as follows: Defined Benefit Plans (1) Currency Translation (2) Total Accumulated Other Comprehensive Income (Loss) Three Months Nine Months Three Months Nine Months Three Months Nine Months Beginning Balance $ (6,533) $ (5,519) $ (99,200) $ (55,724) $ (105,733) $ (61,243) Other Comprehensive Income (Loss) before reclassifications 575 1,751 (30,638) (74,114) (30,063) (72,363) Amounts reclassified from Accumulated Other Comprehensive Income (Loss) (1,082) (3,272) — — (1,082) (3,272) Net current-period Other Comprehensive (Loss) (507) (1,521) (30,638) (74,114) (31,145) (75,635) Balance at December 31, 2021 $ (7,040) $ (7,040) $ (129,838) $ (129,838) $ (136,878) $ (136,878) (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 Nine Months Three Months Nine Months Three Months Nine Months Beginning Balance $ (7,833) $ (6,813) $ (122,780) $ (228,650) $ (130,613) $ (235,463) Other Comprehensive Income before reclassifications 323 972 128,737 234,607 129,060 235,579 Amounts reclassified from Accumulated Other Comprehensive Income (Loss) (833) (2,502) — — (833) (2,502) Net current-period Other Comprehensive Income (Loss) (510) (1,530) 128,737 234,607 128,227 233,077 Balance at December 31, 2020 $ (8,343) $ (8,343) $ 5,957 $ 5,957 $ (2,386) $ (2,386) 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	9 Months Ended
	Dec. 31, 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 and other therapies create uncertainty regarding future demand from our Customers and the ability of our suppliers to meet our demands. As we continue to address supply chain disruptions, we may pursue various avenues available including getting prioritization with assistance from government agencies. However, order momentum has continued to improve and increased demand for certain capital equipment products strengthened from the fourth quarter of fiscal 2021.

Subsequent Events

Subsequent Events	9 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsIn December 2021, we entered into an Asset Purchase Agreement to sell STERIS's Renal Care business to Evoqua Water Technologies Corp., for cash consideration of approximately $196,000, subject to certain potential adjustments, including a customary working capital adjustment and contingent consideration of $12,300. We anticipate no material gain (loss) on the sale. The net assets are not reported as held for sale as they are not material to the balance sheet as of December 31, 2021. The transaction closed on January 3, 2022. We acquired the Renal Care business as part of the Cantel transaction, which closed on June 2, 2021, and had been integrated into STERIS's Healthcare segment. The Renal Care business generated annual revenues of approximately $180,000. The proceeds from the sale received at closing

Nature of Operations and Summ_2

Nature of Operations and Summary of Significant Accounting Policies Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 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 nine month periods ended December 31, 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 December 31, 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 nine months of fiscal 2022, $42,942 of the March 31, 2021 deferred revenue balance was recorded as revenue. During the first nine months of fiscal 2021, $38,181 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

Accounting Policies (Tables)

Accounting Policies (Tables)	9 Months Ended
	Dec. 31, 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 This standard simplifies the accounting for convertible instruments and its application of the derivatives scope exception for contracts in an entity’s own equity. The standard reduces the number of accounting models that require separating embedded conversion features from convertible instruments. As a result, only conversion features accounted for under the substantial premium model and those that require bifurcation will be accounted for separately. For contracts in an entity’s own equity, the new standard eliminates some of the current requirements for equity classification. The standard also addresses how convertible instruments are accounted for in the diluted earnings per share calculation and requires enhanced disclosures about the terms of convertible instruments and contracts in an entity’s own equity. 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"). Standards that have not yet been adopted. ASU 2021-08 "Business Combinations (Topic 805) Accounting for Contract Assets and Contract Liabilities from Contracts with Customers. October 2021 The standard provides guidance to improve the accounting for acquired revenue contracts with Customers in a business combination by addressing diversity in practice and inconsistency related to the recognition of an acquired contract liability and payment terms and their effect on subsequent revenue recognized by the acquirer. The standard is effective for annual periods beginning after December 15, 2022 including interim periods within that year and early adoption is permitted. NA We are in the process of evaluating the impact that the standard will have on our consolidated financial statements.

Business Acquisitions and Div_2

Business Acquisitions and Divestitures Business Acquisitions and Divestitures (Tables)	9 Months Ended
	Dec. 31, 2021
Business Acquisitions and Divestitures [Abstract]
Consideration Paid	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 preliminary as of December 31, 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 December 31, 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 nine-month periods ended December 31, 2021 and 2020. Three Months Ended December 31, Nine Months Ended December 31 (unaudited) (unaudited) 2021 2020 2021 2020 Net revenues $ 1,208,971 $ 1,106,542 $ 3,579,475 $ 3,011,681 Net income (loss) from continuing operations 152,176 92,903 383,193 30,797

Inventories, Net Inventories, N

Inventories, Net Inventories, Net (Tables)	9 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory	December 31, March 31, (*as adjusted) Raw materials $ 210,358 $ 103,939 Work in process 77,339 54,283 Finished goods 334,531 176,623 Reserve for excess and obsolete inventory (27,629) (19,778) Inventories, net $ 594,599 $ 315,067

Property, Plant and Equipment P

Property, Plant and Equipment Property, Plant and Equipment (Tables)	9 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Information related to the major categories of our depreciable assets is as follows: December 31, March 31, Land and land improvements (1) $ 80,783 $ 69,477 Buildings and leasehold improvements 639,928 567,132 Machinery and equipment 885,656 779,044 Information systems 223,722 193,222 Radioisotope 589,273 565,681 Construction in progress (1) 341,042 211,381 Total property, plant, and equipment 2,760,404 2,385,937 Less: accumulated depreciation and depletion (1,238,817) (1,150,537) Property, plant, and equipment, net $ 1,521,587 $ 1,235,400 (1) Land is not depreciated. Construction in progress is not depreciated until placed in service.

Debt Debt (Tables)

Debt Debt (Tables)	9 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Debt	Indebtedness was as follows: December 31, March 31, Short-term debt Term loan, current portion $ 20,625 $ — Delayed draw term loan, current portion 16,250 — Private Placement 91,000 — Total short-term debt $ 127,875 $ — Long-term debt Private Placement $ 763,278 $ 860,308 Revolving Credit Facility 46,538 247,423 Deferred financing costs (26,307) (7,191) Term loan 404,375 550,000 Delayed draw term loan 633,750 — Senior public notes 1,350,000 — Financing leases 3,682 — Total long-term debt $ 3,175,316 $ 1,650,540 Total debt $ 3,303,191 $ 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 549,038 2027 and thereafter 2,407,965 Total $ 3,325,816

Additional Consolidated Balan_2

Additional Consolidated Balance Sheets Information Additional Consolidated Balance Sheets Information (Tables)	9 Months Ended
	Dec. 31, 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: December 31, March 31, Accrued payroll and other related liabilities: Compensation and related items $ 83,919 $ 47,157 Accrued vacation/paid time off 14,692 12,389 Accrued bonuses 59,079 62,530 Accrued employee commissions 18,962 24,022 Other postretirement benefit obligations-current portion 1,326 1,326 Other employee benefit plans obligations-current portion 2,547 2,654 Total accrued payroll and other related liabilities $ 180,525 $ 150,078 Accrued expenses and other: Deferred revenues $ 106,329 $ 62,492 Service liabilities 44,503 46,720 Self-insured risk reserves-current portion 11,320 8,095 Accrued dealer commissions 37,037 27,348 Accrued warranty 13,999 9,406 Asset retirement obligation-current portion 1,186 1,193 Accrued Interest 18,209 7,751 Other 95,876 57,552 Total accrued expenses and other $ 328,459 $ 220,557 Other liabilities: Self-insured risk reserves-long-term portion $ 17,295 $ 17,295 Other postretirement benefit obligations-long-term portion 7,809 8,690 Defined benefit pension plans obligations-long-term portion 1,211 3,748 Other employee benefit plans obligations-long-term portion 2,175 2,353 Accrued long-term income taxes 12,350 13,241 Asset retirement obligation-long-term portion 12,066 12,137 Other 21,857 30,546 Total other liabilities $ 74,763 $ 88,010
Schedule of Accrued Liabilities [Table Text Block]	Additional information related to our Consolidated Balance Sheets is as follows: December 31, March 31, Accrued payroll and other related liabilities: Compensation and related items $ 83,919 $ 47,157 Accrued vacation/paid time off 14,692 12,389 Accrued bonuses 59,079 62,530 Accrued employee commissions 18,962 24,022 Other postretirement benefit obligations-current portion 1,326 1,326 Other employee benefit plans obligations-current portion 2,547 2,654 Total accrued payroll and other related liabilities $ 180,525 $ 150,078 Accrued expenses and other: Deferred revenues $ 106,329 $ 62,492 Service liabilities 44,503 46,720 Self-insured risk reserves-current portion 11,320 8,095 Accrued dealer commissions 37,037 27,348 Accrued warranty 13,999 9,406 Asset retirement obligation-current portion 1,186 1,193 Accrued Interest 18,209 7,751 Other 95,876 57,552 Total accrued expenses and other $ 328,459 $ 220,557 Other liabilities: Self-insured risk reserves-long-term portion $ 17,295 $ 17,295 Other postretirement benefit obligations-long-term portion 7,809 8,690 Defined benefit pension plans obligations-long-term portion 1,211 3,748 Other employee benefit plans obligations-long-term portion 2,175 2,353 Accrued long-term income taxes 12,350 13,241 Asset retirement obligation-long-term portion 12,066 12,137 Other 21,857 30,546 Total other liabilities $ 74,763 $ 88,010

Business Segment Information Bu

Business Segment Information Business Segment Information (Tables)	9 Months Ended
	Dec. 31, 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 December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Revenues: (*as adjusted) (*as adjusted) Healthcare $ 759,675 $ 521,662 $ 2,106,626 $ 1,392,247 Applied Sterilization Technologies 216,298 176,462 630,092 498,371 Life Sciences 127,908 110,800 381,706 343,370 Dental 105,090 — 255,954 — Total revenues $ 1,208,971 $ 808,924 $ 3,374,378 $ 2,233,988 Operating income (loss): Healthcare $ 169,267 $ 115,412 $ 465,817 $ 304,380 Applied Sterilization Technologies 101,343 81,626 303,059 222,416 Life Sciences 52,032 41,541 158,639 136,435 Dental 23,096 — 65,607 — Corporate (55,849) (47,941) (202,461) (158,463) Total operating income before adjustments $ 289,889 $ 190,638 $ 790,661 $ 504,768 Less: Adjustments Amortization of acquired intangible assets (1) $ 75,021 $ 23,194 $ 191,552 $ 62,648 Acquisition and integration related charges (2) 9,298 11,563 167,698 13,984 Redomiciliation and tax restructuring costs (3) 118 296 228 850 (Gain) on fair value adjustment of acquisition related contingent consideration (1) — (500) — (500) Net loss on divestiture of businesses (1) 489 — 893 5 Amortization of inventory and property "step up" to fair value (1) 2,237 1,784 96,513 3,101 COVID-19 incremental costs (4) — 7,251 — 20,460 Restructuring (credit) charges (5) (207) 20 17 110 Total operating income $ 202,933 $ 147,030 $ 333,760 $ 404,110
Revenue from External Customers by Products and Services [Table Text Block]	Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Healthcare: Capital equipment $ 217,214 $ 147,855 $ 570,509 $ 407,610 Consumables 273,750 148,839 750,531 355,390 Service 268,711 224,968 785,586 629,247 Total Healthcare Revenues $ 759,675 $ 521,662 $ 2,106,626 $ 1,392,247 Applied Sterilization Technologies Service Revenues $ 216,298 $ 176,462 $ 630,092 $ 498,371 Life Sciences: Capital equipment $ 30,412 $ 28,993 $ 97,343 $ 88,664 Consumables 61,096 49,627 179,380 164,262 Service 36,400 32,180 104,983 90,444 Total Life Sciences Revenues $ 127,908 $ 110,800 $ 381,706 $ 343,370 Dental Revenues $ 105,090 $ — $ 255,954 $ — Total Revenues $ 1,208,971 $ 808,924 $ 3,374,378 $ 2,233,988
Revenue from External Customers by Geographic Areas [Table Text Block]	Three Months Ended December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Revenues: Ireland $ 20,086 $ 20,316 $ 62,077 $ 51,779 United States 851,292 572,397 2,383,039 1,613,554 Other locations 337,593 216,211 929,262 568,655 Total Revenues $ 1,208,971 $ 808,924 $ 3,374,378 $ 2,233,988 December 31, 2021 March 31, 2021 Property, Plant, and Equipment, Net Ireland $ 54,977 $ 52,140 United States 859,601 673,784 Other locations 607,009 509,476 Property, Plant, and Equipment, Net $ 1,521,587 $ 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. December 31, 2021 March 31, 2021 Assets: Healthcare and Life Sciences $ 5,374,009 $ 3,600,182 Applied Sterilization Technologies 3,047,602 2,974,289 Dental 1,118,528 — Cantel related goodwill not yet allocated (1) 2,149,827 — Total assets $ 11,689,966 $ 6,574,471

Shares and Preferred Shares Sha

Shares and Preferred Shares Shares and Preferred Shares (Tables)	9 Months Ended
	Dec. 31, 2021
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares [Table Text Block]	Three Months Ended December 31, Nine Months Ended December 31, Denominator (shares in thousands): 2021 2020 2021 2020 Weighted average shares outstanding—basic 100,038 85,330 96,679 85,153 Dilutive effect of share equivalents 788 702 823 698 Weighted average shares outstanding and share equivalents—diluted 100,826 86,032 97,502 85,851
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Options to purchase the following number of shares were outstanding but excluded from the computation of diluted earnings per share because the combined exercise prices, unamortized fair values, and assumed tax benefits upon exercise were greater than the average market price for the shares during the periods, so including these options would be anti-dilutive: Three Months Ended December 31, Nine Months Ended December 31, (shares in thousands) 2021 2020 2021 2020 Number of share options 271 278 251 370

Share-Based Compensation Share-

Share-Based Compensation Share-Based Compensation (Tables)	9 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Assumptions Used	The following weighted-average assumptions were used for options granted during the first nine months of fiscal 2022 and 2021: Fiscal 2022 Fiscal 2021 Risk-free interest rate 1.10 % 0.46 % Expected life of options 5.9 years 6.0 years Expected dividend yield of stock 0.95 % 0.96 % Expected volatility of stock 24.27 % 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 284,566 215.10 Exercised (304,341) 82.95 Forfeited (4,043) 128.11 Outstanding at December 31, 2021 1,613,229 $ 135.66 6.8 years $ 173,829 Exercisable at December 31, 2021 904,909 $ 101.43 5.5 years $ 128,481
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 163,120 21,437 197.51 Vested (174,509) (15,621) 96.30 Forfeited (15,050) (620) 161.59 Non-vested at December 31, 2021 506,884 34,696 $ 155.01
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 (209,878) 191.18 Forfeited (7,602) 191.18 Non-vested at December 31, 2021 62,922 $ 191.18

Financial and Other Guarantees

Financial and Other Guarantees Financial and Other Gurantees (Tables)	9 Months Ended
	Dec. 31, 2021
Product Warranties Disclosures [Abstract]
Schedule of Product Warranty Liability	Changes in our warranty liability during the first nine 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 12,835 Settlements made during the period (13,011) Balance, December 31, 2021 $ 13,999

Derivatives and Hedging Derivat

Derivatives and Hedging Derivatives and Hedging (Tables)	9 Months Ended
	Dec. 31, 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 December 31, 2021 March 31, 2021 December 31, 2021 March 31, 2021 Prepaid & Other $ 685 $ 57 $ — $ — Accrued expenses and other $ — $ — $ 91 $ 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 December 31, Nine Months Ended December 31, 2021 2020 2021 2020 Foreign currency forward contracts Selling, general and administrative $ 1,707 $ 741 $ 4,279 $ 661 Commodity swap contracts Cost of revenues $ 417 $ 153 $ 1,110 $ 904

Fair Value Measurements Fair Va

Fair Value Measurements Fair Value Measurements (Tables)	9 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Option, Disclosures	The following table shows the fair value of our financial assets and liabilities at December 31, 2021 and March 31, 2021: Fair Value Measurements Carrying Value Quoted Prices Significant Other Significant Level 1 Level 2 Level 3 December 31, March 31, December 31, March 31, December 31, March 31, December 31, March 31, Assets: Cash and cash equivalents $ 359,089 $ 220,531 $ 359,089 $ 220,531 $ — $ — $ — $ — Forward and swap contracts (1) 685 57 — — 685 57 — — Equity investments (2) 9,957 10,301 9,957 10,301 — — — — Other investments 2,571 2,665 2,571 2,665 — — — — Liabilities: Forward and swap contracts (1) $ 91 $ 367 $ — $ — $ 91 $ 367 $ — $ — Deferred compensation plans (2) 2,062 1,715 2,062 1,715 — — — — Total debt (3) 3,299,509 1,650,540 — — 3,432,856 1,722,459 — — Contingent consideration obligations (4) 12,864 19,642 — — — — 12,864 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 December 31, 2021 are summarized as follows: Contingent Consideration Balance at March 31, 2021 $ 19,642 Liabilities assumed in acquisition of Cantel 25,000 Additions 540 Payments (32,302) Currency translation adjustments (16) Balance at December 31, 2021 $ 12,864

Reclassifications out of Accu_2

Reclassifications out of Accumulated Other Comprehensive Income Reclassification out of Accumulated Other Comprehensive Income (Tables)	9 Months Ended
	Dec. 31, 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 December 31, 2021 and 2020 were as follows: Defined Benefit Plans (1) Currency Translation (2) Total Accumulated Other Comprehensive Income (Loss) Three Months Nine Months Three Months Nine Months Three Months Nine Months Beginning Balance $ (6,533) $ (5,519) $ (99,200) $ (55,724) $ (105,733) $ (61,243) Other Comprehensive Income (Loss) before reclassifications 575 1,751 (30,638) (74,114) (30,063) (72,363) Amounts reclassified from Accumulated Other Comprehensive Income (Loss) (1,082) (3,272) — — (1,082) (3,272) Net current-period Other Comprehensive (Loss) (507) (1,521) (30,638) (74,114) (31,145) (75,635) Balance at December 31, 2021 $ (7,040) $ (7,040) $ (129,838) $ (129,838) $ (136,878) $ (136,878) (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 Nine Months Three Months Nine Months Three Months Nine Months Beginning Balance $ (7,833) $ (6,813) $ (122,780) $ (228,650) $ (130,613) $ (235,463) Other Comprehensive Income before reclassifications 323 972 128,737 234,607 129,060 235,579 Amounts reclassified from Accumulated Other Comprehensive Income (Loss) (833) (2,502) — — (833) (2,502) Net current-period Other Comprehensive Income (Loss) (510) (1,530) 128,737 234,607 128,227 233,077 Balance at December 31, 2020 $ (8,343) $ (8,343) $ 5,957 $ 5,957 $ (2,386) $ (2,386) 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	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue, Remaining Performance Obligation, Amount	$ 1,570,000
Deferred Revenue, Revenue Recognized	$ 42,942	$ 38,181
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	54.00%

Business Acquisitions and Div_3

Business Acquisitions and Divestitures - Additional Information (Details) $ in Thousands		3 Months Ended		9 Months Ended
		Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Jun. 02, 2021USD ($)
Business Acquisition [Line Items]
Entity Number of Employees		3,700		3,700
Business Combination, Acquisition Related Costs	[1]	$ 9,298	$ 11,563	$ 167,698	$ 13,984
Cantel Acquisition Assumed Debt Obligations		721,284		721,284
Contingent Consideration Liability Assumed in Cantel Combination		25,000		25,000		$ 25,000
Net sales attributable to Cantel		306,522		721,183
Operating (loss) income attributable to Cantel		15,958		(175,178)
Cantel Medical Corp.
Business Acquisition [Line Items]
Business Combination, Acquisition Related Costs		$ 9,026		167,426
Total purchase consideration				$ 3,599,471
[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 and other therapies create uncertainty regarding future demand from our Customers and the ability of our suppliers to meet our demands. As we continue to address supply chain disruptions, we may pursue various avenues available including getting prioritization with assistance from government agencies. 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 Revenues - Total Purchase Considerations (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Jun. 02, 2021	Mar. 31, 2021
Business Acquisition [Line Items]
Common stock shares outstanding (in shares)	100,111,000	100,111,000		85,353,000
Consideration related to equity component of Cantel convertible debt		$ 175,555
Cantel Medical Corp.
Business Acquisition [Line Items]
Cash consideration (in usd per share)			$ 16.93
Common stock shares outstanding (in shares)			42,816,000
Equity interest issued or issuable (in shares)	188.07	14,297,000
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

Business Acquisitions and Div_5

Business Acquisitions and Divestitures - Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Business Acquisition [Line Items]
Lease right-of-use assets, net	$ 194,026	$ 150,142
Goodwill	5,115,323	3,026,049
Cantel Medical Corp.
Business Acquisition [Line Items]
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	$ 0
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

Business Acquisitions and Div_6

Business Acquisitions and Divestitures - Other Intangible Assets (Details) - Cantel Medical Corp. $ in Thousands	9 Months Ended
	Dec. 31, 2021USD ($)
Business Acquisition [Line Items]
Intangible assets	$ 2,190,000
Customer Relationships
Business Acquisition [Line Items]
Intangible assets	$ 2,060,000
Finite-Lived Intangible Asset, Useful Life	10 years
Trade Names
Business Acquisition [Line Items]
Intangible assets	$ 130,000
Finite-Lived Intangible Asset, Useful Life	10 years

Business Acquisitions and Div_7

Business Acquisitions and Divestitures - Actual and Pro Forma Impact (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Business Combination and Asset Acquisition [Abstract]
Net revenues	$ 1,208,971	$ 1,106,542	$ 3,579,475	$ 3,011,681
Net income (loss) from continuing operations	$ 152,176	$ 92,903	$ 383,193	$ 30,797

Inventories, Net Inventories,_2

Inventories, Net Inventories, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 210,358	$ 103,939
Work in process	77,339	54,283
Finished goods	334,531	176,623
Reserve for excess and obsolete inventory	(27,629)	(19,778)
Inventories, net	$ 594,599	$ 315,067

Property, Plant and Equipment_2

Property, Plant and Equipment Property, Plant and Equipment (Details) - USD ($) $ in Thousands		9 Months Ended
		Dec. 31, 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: December 31, March 31, Land and land improvements (1) $ 80,783 $ 69,477 Buildings and leasehold improvements 639,928 567,132 Machinery and equipment 885,656 779,044 Information systems 223,722 193,222 Radioisotope 589,273 565,681 Construction in progress (1) 341,042 211,381 Total property, plant, and equipment 2,760,404 2,385,937 Less: accumulated depreciation and depletion (1,238,817) (1,150,537) Property, plant, and equipment, net $ 1,521,587 $ 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]	$ 80,783	$ 69,477
Buildings and leasehold improvements		639,928	567,132
Machinery and equipment		885,656	779,044
Radioisotope		589,273	565,681
Construction in progress	[1]	341,042	211,381
Total property, plant, and equipment		2,760,404	2,385,937
Less: accumulated depreciation and depletion		(1,238,817)	(1,150,537)
Property, plant, and equipment, net		1,521,587	1,235,400
Capitalized Computer Hardware/Software, Gross		$ 223,722	$ 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	Dec. 31, 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: December 31, March 31, Short-term debt Term loan, current portion $ 20,625 $ — Delayed draw term loan, current portion 16,250 — Private Placement 91,000 — Total short-term debt $ 127,875 $ — Long-term debt Private Placement $ 763,278 $ 860,308 Revolving Credit Facility 46,538 247,423 Deferred financing costs (26,307) (7,191) Term loan 404,375 550,000 Delayed draw term loan 633,750 — Senior public notes 1,350,000 — Financing leases 3,682 — Total long-term debt $ 3,175,316 $ 1,650,540 Total debt $ 3,303,191 $ 1,650,540
Debt Instrument [Line Items]
Private Placement		$ 763,278				$ 860,308
Deferred financing costs		26,307				7,191
Credit Agreement		46,538				247,423
Total long term debt		3,175,316				1,650,540
Finance Lease, Liability		3,682				0
Debt, Long-term and Short-term, Combined Amount		3,303,191				1,650,540
Short-term Debt		127,875				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		549,038
Long-Term Debt, Maturity, after Year Five		2,407,965
Long Term Debt Excluding Deferred Financing Fees		3,325,816
Term loan, current portion		20,625				0
Term Loan		404,375				550,000
Delayed Draw Term Loan		633,750	$ 650,000			0
Delayed draw term loan, current portion		16,250				0
Short-term Bank Loans and Notes Payable		$ 91,000				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 Cantel 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]
Cash consideration (in usd per share) | $ / shares				$ 16.93
Consideration related to equity component of Cantel convertible debt		175,555
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	Dec. 31, 2021	Mar. 31, 2021
Accrued payroll and other related liabilities:
Compensation and related items	$ 83,919	$ 47,157
Accrued vacation/paid time off	14,692	12,389
Accrued bonuses	59,079	62,530
Accrued employee commissions	18,962	24,022
Other postretirement benefit obligations-current portion	1,326	1,326
Other employee benefit plans obligations-current portion	2,547	2,654
Accrued expenses and other:
Deferred revenues	106,329	62,492
Service liabilities	44,503	46,720
Self-insured risk reserves-current portion	11,320	8,095
Accrued dealer commissions	37,037	27,348
Accrued warranty	13,999	9,406
Asset retirement obligation-current portion	1,186	1,193
Other	95,876	57,552
Total accrued expenses and other	328,459	220,557
Other liabilities:
Self-insured risk reserves-long-term portion	17,295	17,295
Other postretirement benefit obligations-long-term portion	7,809	8,690
Defined benefit pension plans obligations-long-term portion	1,211	3,748
Other employee benefit plans obligations-long-term portion	2,175	2,353
Accrued long-term income taxes	12,350	13,241
Asset retirement obligation-long-term portion	12,066	12,137
Long-term liabilities, other	21,857	30,546
Other Liabilities, Noncurrent	74,763	88,010
Employee-related Liabilities, Current	180,525	150,078
Accrued interest	$ 18,209	$ 7,751

Income Tax Expense Income Tax E

Income Tax Expense Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Effective Income Tax Rate, Continuing Operations	21.60%	17.80%	21.50%	18.80%
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			9 Months Ended
		Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2021	Dec. 31, 2020		Mar. 31, 2021
Segment Reporting Information [Line Items]
Revenues		$ 1,208,971	$ 808,924	[1]	$ 3,374,378	$ 2,233,988	[1]
Segment operating income		202,933	147,030	[1]	333,760	404,110	[1]
Restructuring Charges		(207)	20		17	110
Amortization of acquired intangible assets		75,021	23,194		191,552	62,648
Business Combination, Acquisition Related Costs	[2]	9,298	11,563		167,698	13,984
loss (gain) on fair value contingent consideration adjustments		0	(500)		0	(500)
Impact of TCJA		118	296		228	850
Net loss on divestiture of businesses		489	0		893	5	[1]
Amortization of inventory and property step-up to fair value		2,237	1,784		96,513	3,101
COVID-19 incremental costs		0	7,251		0	20,460
Assets		11,689,966			11,689,966			$ 6,574,471
Property, Plant and Equipment, Net		1,521,587			1,521,587			1,235,400
Goodwill		5,115,323			5,115,323			3,026,049
Life Sciences
Segment Reporting Information [Line Items]
Revenues		127,908	110,800		381,706	343,370
Segment operating income		52,032	41,541		158,639	136,435
Applied Sterilization Technologies
Segment Reporting Information [Line Items]
Revenues		216,298	176,462		630,092	498,371
Segment operating income		101,343	81,626		303,059	222,416
Assets		3,047,602			3,047,602			2,974,289
Corporate
Segment Reporting Information [Line Items]
Segment operating income		(55,849)	(47,941)		(202,461)	(158,463)
Segment operating income
Segment Reporting Information [Line Items]
Revenues		1,208,971	808,924		3,374,378	2,233,988
Segment operating income		289,889	190,638		790,661	504,768
Healthcare [Member] [Member]
Segment Reporting Information [Line Items]
Revenues		759,675	521,662		2,106,626	1,392,247
Segment operating income		169,267	115,412		465,817	304,380
Healthcare and Life Sciences [Member]
Segment Reporting Information [Line Items]
Assets		5,374,009			5,374,009			3,600,182
Dental
Segment Reporting Information [Line Items]
Revenues		105,090	0		255,954	0
Segment operating income		23,096	0		65,607	0
Assets		$ 1,118,528			$ 1,118,528			0
Dental | Revenue Benchmark | Customer Concentration Risk
Segment Reporting Information [Line Items]
Concentration Risk, Percentage		55.80%			46.10%
Historical Average Percentage of Concentration Risk		40.00%
Healthcare /Life Sciences
Segment Reporting Information [Line Items]
Goodwill		$ 1,336,000			$ 1,336,000
AST [Member]
Segment Reporting Information [Line Items]
Goodwill		814,000			814,000
Other foreign locations [Member]
Segment Reporting Information [Line Items]
Revenues		337,593	216,211		929,262	568,655
UNITED STATES
Segment Reporting Information [Line Items]
Revenues		851,292	572,397		2,383,039	1,613,554
Property, Plant and Equipment, Net		859,601			859,601			673,784
UNITED KINGDOM
Segment Reporting Information [Line Items]
Revenues		20,086	20,316		62,077	51,779
Property, Plant and Equipment, Net		54,977			54,977			52,140
Other Foreign Entities [Member]
Segment Reporting Information [Line Items]
Property, Plant and Equipment, Net		607,009			607,009			$ 509,476
Consumable revenues [Member] | Life Sciences
Segment Reporting Information [Line Items]
Revenues		61,096	49,627		179,380	164,262
Consumable revenues [Member] | Healthcare [Member] [Member]
Segment Reporting Information [Line Items]
Revenues		273,750	148,839		750,531	355,390
Sales Revenue, Services, Net [Member] | Life Sciences
Segment Reporting Information [Line Items]
Revenues		36,400	32,180		104,983	90,444
Sales Revenue, Services, Net [Member] | Healthcare [Member] [Member]
Segment Reporting Information [Line Items]
Revenues		268,711	224,968		785,586	629,247
Capital equipment revenues [Member] | Life Sciences
Segment Reporting Information [Line Items]
Revenues		30,412	28,993		97,343	88,664
Capital equipment revenues [Member] | Healthcare [Member] [Member]
Segment Reporting Information [Line Items]
Revenues		$ 217,214	$ 147,855		$ 570,509	$ 407,610
[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 and other therapies create uncertainty regarding future demand from our Customers and the ability of our suppliers to meet our demands. As we continue to address supply chain disruptions, we may pursue various avenues available including getting prioritization with assistance from government agencies. 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		9 Months Ended
	Dec. 31, 2021$ / sharesshares	Dec. 31, 2020shares	Dec. 31, 2021$ / sharesshares	Dec. 31, 2020shares	Dec. 31, 2021EUR (€)shares	Jun. 02, 2021$ / shares
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Weighted average shares outstanding - basic	100,038,000	85,330,000	96,679,000	85,153,000
Dilutive effect of share equivalents	788,000	702,000	823,000	698,000
Weighted average shares outstanding and share equivalents - diluted	100,826,000	86,032,000	97,502,000	85,851,000
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	271,000	278,000	251,000	370,000
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)	Dec. 31, 2021$ / shares
Class of Stock [Line Items]
Preferred shares, par value	$ 0.001

Repurchases of Shares (Details)

Repurchases of Shares (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2021	Dec. 31, 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	225,493	85,574
Payments for shares obtained in connection with share based compensation programs	$ 27,628	$ 9,512

Share-Based Compensation Shar_2

Share-Based Compensation Share-Based Compensation (Details) - USD ($)	9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Item]
Remaining shares available for grant	3,139,888
Weighted-average assumptions used for options granted:
Risk-free interest rate	1.10%	0.46%
Expected life of options	5 years 10 months 24 days	6 years
Exptected dividend yield of stock	0.95%	0.96%
Expected volatility of stock	24.27%	23.04%
Estimated forfeiture rate	2.85%	2.78%
Summary of share option activity:
Outstanding at March 31, 2017	1,637,047
Granted	284,566
Exercised	(304,341)
Forfeited	(4,043)
Outstanding at June 30, 2017	1,613,229
Exercisable at June 30, 2017	904,909
Weighted average exercise price:
Outstanding at March 31, 2017	$ 112.03
Granted	215.10
Exercised	82.95
Forfeited	128.11
Outstanding at June 30, 2017	135.66
Exercisable at June 30, 2017	$ 101.43
Average Remaining Contractual Term, Outstanding at June 30, 2017	6 years 9 months 18 days
Aggregate Intrinsic Value, Outstanding at June 30, 2017	$ 173,829,000
Average Remaining Contractual Term, Exercisable at June 30, 2017	5 years 6 months
Aggregate Intrinsic Value, Exercisable at June 30, 2017	$ 128,481,000
Non-vested stock options outstanding expected to vest	690,359
Ordinary shares, closing price	$ 243.41
Total intrinsic value of stock options exercised	$ 43,425,000	$ 36,850,000
Net cash proceeds from the exercise of stock options	$ 6,789,000	$ 26,018,000
Weighted average grant date fair value of stock option grants, per share	$ 37.52	$ 27.66
Summary of non-vested restricted share activity:
Unrecognized compensation cost related to nonvested share-based compensation granted	$ 66,715,000
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		$ 491,000
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	163,120
Weighted-Average Grant Date Fair Value, Granted	$ 197.51
Number of Restricted Shares, Vested	(174,509)
Weighted-Average Grant Date Fair Value, Vested	$ 96.30
Number of Restricted Shares, Canceled	(15,050)
Weighted-Average Grant Date Fair Value, Canceled	$ 161.59
Number of Restricted Shares, Non-vested at End of Period	506,884
Weighted-Average Grant Date Fair Value, Non-vested at End of Period	$ 155.01
Fair Value, Share-based Payment Awards, Other than Options	$ 18,267,000
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	21,437
Number of Restricted Shares, Vested	(15,621)
Number of Restricted Shares, Canceled	(620)
Number of Restricted Shares, Non-vested at End of Period	34,696
Share-based Payment Arrangement, Expense	$ 18,861,000
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	(209,878)
Weighted-Average Grant Date Fair Value, Vested	$ 191.18
Number of Restricted Shares, Canceled	(7,602)
Weighted-Average Grant Date Fair Value, Canceled	$ 191.18
Number of Restricted Shares, Non-vested at End of Period	62,922
Weighted-Average Grant Date Fair Value, Non-vested at End of Period	$ 191.18
Unrecognized compensation cost related to nonvested share-based compensation granted	$ 9,248,000

Financial and Other Guarantee_2

Financial and Other Guarantees Financial and Other Guarantees (Details) $ in Thousands	9 Months Ended
	Dec. 31, 2021USD ($)
Product Warranty Liability [Line Items]
Balance, March 31, 2017	$ 9,406
Warranties issued during the period	12,835
Settlement made during the period	(13,011)
Balance, June 30, 2017	13,999
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		9 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2021USD ($)lb	Dec. 31, 2020USD ($)	Dec. 31, 2021MXN ($)	Dec. 31, 2021CAD ($)	Dec. 31, 2021EUR (€)	Dec. 31, 2021USD ($)	Mar. 31, 2021USD ($)
Prepaid & Other
Derivative [Line Items]
Asset derivatives								$ 685	$ 57
Liability derivatives								0	0
Accrued expenses and other
Derivative [Line Items]
Asset derivatives								0	0
Liability derivatives								$ 91	$ 367
Foreign currency forward contracts | Selling, general, and administrative expense
Derivative [Line Items]
Gain (Loss) on Derivative Instruments, Net, Pretax	$ 1,707	$ 741	$ 4,279	$ 661
Commodity swap contracts
Derivative [Line Items]
Derivative, notional amount, weight | lb			192,000
Commodity swap contracts | Cost of Sales [Member]
Derivative [Line Items]
Gain (Loss) on Derivative Instruments, Net, Pretax	$ (417)	$ (153)	$ (1,110)	$ (904)
Mexican peso | Foreign currency forward contracts
Derivative [Line Items]
Liability derivatives					$ 19.9
Canadian dollar | Foreign currency forward contracts
Derivative [Line Items]
Liability derivatives						$ 2.6
euro | Foreign currency forward contracts
Derivative [Line Items]
Derivative Asset, Notional Amount | €							€ 14

Derivatives and Hedging Gain (L

Derivatives and Hedging Gain (Loss) on Derivatives, Income Statement Location (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Foreign currency forward contracts | Selling, general, and administrative expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in income	$ (1,707)	$ (741)	$ (4,279)	$ (661)
Commodity swap contracts | Cost of revenues
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in income	$ 417	$ 153	$ 1,110	$ 904

Fair Value Measurements Fair _2

Fair Value Measurements Fair Value Hierarchy (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2021
Reported Value Measurement [Member]
Assets:
Cash and cash equivalents		$ 359,089		$ 359,089		$ 220,531
Forward and swap contracts	[1]	685		685		57
Equity Securities, FV-NI	[2]	9,957		9,957		10,301
Investments		2,571		2,571		2,665
Liabilities:
Deferred compensation plans	[2]	2,062		2,062		1,715
Long term debt		3,299,509		3,299,509		1,650,540
Contingent consideration obligations		12,864		12,864		19,642
Foreign Currency Contracts, Liability, Fair Value Disclosure	[1]	91		91		367
Debt and Equity Securities, Gain (Loss)		(28)	$ (210)	200	$ (138)
Contingent consideration obligations		12,864		12,864		19,642
Level 1
Assets:
Cash and cash equivalents		359,089		359,089		220,531
Forward and swap contracts		0		0		0
Equity Securities, FV-NI	[2]	9,957		9,957		10,301
Investments		2,571		2,571		2,665
Liabilities:
Deferred compensation plans	[2]	2,062		2,062		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]	685		685		57
Equity Securities, FV-NI		0		0		0
Investments		0		0		0
Liabilities:
Deferred compensation plans		0		0		0
Long term debt		3,432,856		3,432,856		1,722,459
Contingent consideration obligations		0		0		0
Foreign Currency Contracts, Liability, Fair Value Disclosure	[1]	91		91		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]	12,864		12,864		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 third quarter and first nine months of fiscal 2022, we recorded gains (losses) of $28 and $(200), 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		9 Months Ended
		Dec. 31, 2021	Jun. 02, 2021	Mar. 31, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration		$ 12,864		$ 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		540
Payments
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in contingent consideration		(32,302)
Foreign currency translation adjustment
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in contingent consideration		(16)
Fair Value, Inputs, Level 3 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent consideration	[1]	12,864		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		9 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020
Debt Securities, Available-for-sale [Line Items]
Equity Securities, FV-NI, Gain (Loss)	$ 28	$ 210	$ (200)	$ 138

Reclassifications out of Accu_3

Reclassifications out of Accumulated Other Comprehensive Income Reclassification out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands		3 Months Ended				9 Months Ended
		Dec. 31, 2021		Dec. 31, 2020		Dec. 31, 2021		Dec. 31, 2020		Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Mar. 31, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax		$ (136,878)		$ (2,386)		$ (136,878)		$ (2,386)		$ (105,733)	$ (61,243)	$ (130,613)	$ (235,463)
Other Comprehensive Income (Loss), Net of Tax		(30,063)		129,060		(72,363)		235,579
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax		(1,082)		(833)	[1]	(3,272)		(2,502)
Other Comprehensive (Loss) Income, Net of Tax, Portion Attributable to Parent		31,145		(128,227)	[2]	75,635		(233,077)	[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		(7,040)		(8,343)		(7,040)		(8,343)		(6,533)	(5,519)	(7,833)	(6,813)
Other Comprehensive Income (Loss), Net of Tax		575		323		1,751		972
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax	[3]	(1,082)		(833)		(3,272)		(2,502)
Other Comprehensive (Loss) Income, Net of Tax, Portion Attributable to Parent		507		510		1,521		1,530
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		(129,838)		5,957		(129,838)		5,957		$ (99,200)	$ (55,724)	$ (122,780)	$ (228,650)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax		(30,638)		128,737		(74,114)		234,607
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		$ 30,638		$ (128,737)		$ 74,114		$ (234,607)
[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.

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ in Thousands	Jan. 03, 2022	Dec. 31, 2021	Dec. 31, 2020		Dec. 31, 2021	Dec. 31, 2020	[1]
Subsequent Events [Abstract]
Subsequent Events					Subsequent EventsIn December 2021, we entered into an Asset Purchase Agreement to sell STERIS's Renal Care business to Evoqua Water Technologies Corp., for cash consideration of approximately $196,000, subject to certain potential adjustments, including a customary working capital adjustment and contingent consideration of $12,300. We anticipate no material gain (loss) on the sale. The net assets are not reported as held for sale as they are not material to the balance sheet as of December 31, 2021. The transaction closed on January 3, 2022. We acquired the Renal Care business as part of the Cantel transaction, which closed on June 2, 2021, and had been integrated into STERIS's Healthcare segment. The Renal Care business generated annual revenues of approximately $180,000. The proceeds from the sale received at closing
Subsequent Event [Line Items]
Gain (Loss) on Disposition of Business		$ (489)	$ 0		$ (893)	$ (5)
Revenues		$ 1,208,971	$ 808,924	[1]	$ 3,374,378	$ 2,233,988
Subsequent Event
Subsequent Event [Line Items]
Proceeds from Divestiture of Businesses	$ 196,000
Potential Earnout on Divestiture of Business	12,300
Subsequent Event | Renal Care
Subsequent Event [Line Items]
Revenues	$ 180,000
[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.