MULTI COLOR (LABL) 10-K 28 May 19 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Apr. 30, 2019	Sep. 28, 2018
Document and Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Registrant Name	MULTI COLOR Corp
Entity Central Index Key	0000819220
Current Fiscal Year End Date	--03-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 874
Trading Symbol	LABL
Entity Common Stock, Shares Outstanding		20,543,353
Entity Shell Company	false
Entity Emerging Growth Company	false
Entity Small Business	false

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Net revenues	$ 1,725,554	$ 1,300,912	$ 923,295
Cost of revenues	1,403,634	1,054,312	726,486
Gross profit	321,920	246,600	196,809
Selling, general and administrative expenses	160,710	129,601	84,922
Facility closure expenses	711	1,419	921
Goodwill Impairment	99,155	0	0
Operating income	61,344	115,580	110,966
Interest expense	75,399	54,027	25,488
Other (income) expense, net	2,280	7,851	(2,735)
Income (loss) before income taxes	(16,335)	53,702	88,213
Income tax expense (benefit)	12,332	(18,195)	26,848
Net income (loss)	(28,667)	71,897	61,365
Less: Net income (loss) attributable to noncontrolling interests	374	(54)	369
Net income (loss) attributable to Multi-Color Corporation	$ (29,041)	$ 71,951	$ 60,996
Weighted average shares and equivalents outstanding:
Basic	20,468	18,421	16,879
Diluted	20,468	18,583	17,024
Basic earnings (loss) per common share	$ (1.42)	$ 3.91	$ 3.61
Diluted earnings (loss) per common share	(1.42)	3.87	3.58
Dividends per common share	$ 0.20	$ 0.20	$ 0.20

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income (loss)		$ (28,667)	$ 71,897	$ 61,365
Other comprehensive income (loss):
Unrealized foreign currency translation gain (loss)	[1]	(136,726)	93,892	(25,254)
Unrealized gain (loss) on derivative contracts, net of tax	[2]	29,907	(25,408)	196
Change in minimum pension liability, net of tax	[3]	(28)	34	174
Total other comprehensive income (loss)		(106,847)	68,518	(24,884)
Comprehensive income (loss)		(135,514)	140,415	36,481
Less: Comprehensive income (loss) attributable to noncontrolling interests		(1,298)	1,686	157
Comprehensive income (loss) attributable to Multi-Color Corporation		$ (134,216)	$ 138,729	$ 36,324
[1]	The amount for the years ended March 31, 2019, 2018 and 2017 includes a tax impact of $262, $(654) and $284, respectively, related to the settlement of foreign currency denominated intercompany loans.
[2]	Amounts are net of tax of $(10,026), $10,423 and $(133) for the years ended March 31, 2019, 2018 and 2017, respectively.
[3]	Amounts are net of tax of $9, $(21) and $(108) for the years ended March 31, 2019, 2018 and 2017, respectively.

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Unrealized foreign currency translation gain (loss), tax impact related to settlement of foreign currency denominated intercompany loans	$ 262	$ (654)	$ 284
Unrealized gain (loss) on interest rate swaps, tax	10,026	10,423	(133)
Additional minimum pension liability adjustment, tax	$ 9	$ (21)	$ (108)

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Current assets:
Cash and cash equivalents	$ 57,762	$ 67,708
Accounts receivable, net	300,945	306,542
Other receivables	23,845	16,589
Inventories, net	144,235	167,950
Prepaid expenses	29,263	24,926
Other current assets	40,769	17,468
Total current assets	596,819	601,183
Property, plant and equipment, net	528,077	510,002
Goodwill	978,544	1,196,634
Intangible assets, net	538,196	580,233
Other non-current assets	6,755	12,097
Deferred income tax assets	4,081	2,827
Total assets	2,652,472	2,902,976
Current liabilities:
Current portion of long-term debt	23,059	20,864
Accounts payable	197,899	192,341
Accrued expenses and other liabilities	94,739	114,022
Total current liabilities	315,697	327,227
Long-term debt	1,514,294	1,577,821
Deferred income tax liabilities	160,017	149,950
Other liabilities	33,761	87,605
Total liabilities	2,023,769	2,142,603
Commitments and contingencies
Stockholders' equity:
Preferred stock, no par value, 1,000 shares authorized, no shares outstanding	0	0
Common stock, no par value, stated value of $0.10 per share; 40,000 shares authorized, 20,860 and 20,753 shares issued at March 31, 2019 and 2018, respectively	1,411	1,403
Paid-in capital	406,846	402,252
Treasury stock, 317 and 307 shares at cost at March 31, 2019 and 2018, respectively	(12,079)	(11,528)
Retained earnings	355,973	384,671
Accumulated other comprehensive loss	(126,166)	(19,241)
Total stockholders' equity attributable to Multi-Color Corporation	625,985	757,557
Noncontrolling interests	2,718	2,816
Total stockholders' equity	628,703	760,373
Total liabilities and stockholders' equity	$ 2,652,472	$ 2,902,976

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2019	Mar. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, no par value
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares outstanding	0	0
Common stock, no par value
Common stock, stated value per share	$ 0.10	$ 0.10
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	20,860,000	20,753,000
Treasury stock, shares	317,000	307,000

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Paid-In Capital	Treasury Stock	Retained Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interests
Balance at Mar. 31, 2016	$ 342,632	$ 1,040	$ 150,783	$ (10,556)	$ 258,848	$ (61,123)	$ 3,640
Balance, shares at Mar. 31, 2016		17,111
Net income (loss)	61,365				60,996		369
Other comprehensive income (loss)	(24,884)					(24,672)	(212)
Acquisitions	62						62
Issuance of common stock	3,352	$ 14	3,338
Issuance of common stock, shares		136
Excess tax benefit from stock-based compensation	1,258		1,258
Restricted stock grant	0
Restricted stock grant, shares		8
Restricted stock forfeitures	0
Restricted stock forfeitures, shares		(1)
Stock-based compensation	3,042		3,042
Shares acquired under employee plans	(612)			(612)
Common stock dividends	(3,383)				(3,383)
Acquisition of noncontrolling interest	(514)		(22)				(492)
Dividends paid to noncontrolling interests	(498)						(498)
Balance at Mar. 31, 2017	381,820	$ 1,054	158,399	(11,168)	316,461	(85,795)	2,869
Balance, shares at Mar. 31, 2017		17,254
Net income (loss)	71,897				71,951		(54)
Other comprehensive income (loss)	68,518					66,778	1,740
Constantia Labels acquisition	238,920	$ 338	237,482				1,100
Constantia Labels acquisition, shares		3,383
Issuance of common stock	2,926	$ 11	2,915
Issuance of common stock, shares		110
Restricted stock grant	0
Restricted stock grant, shares		9
Restricted stock forfeitures	0
Restricted stock forfeitures, shares		(3)
Stock-based compensation	3,456		3,456
Shares acquired under employee plans	(360)			(360)
Common stock dividends	(3,741)				(3,741)
Sale of Southeast Asian durables business	(2,715)					(231)	(2,484)
Acquisition of noncontrolling interest	(69)					7	(76)
Dividends paid to noncontrolling interests	(279)						(279)
Balance at Mar. 31, 2018	760,373	$ 1,403	402,252	(11,528)	384,671	(19,241)	2,816
Balance, shares at Mar. 31, 2018		20,753
Net income (loss)	(28,667)				(29,041)		374
Topic 606 transition adjustment	2,701				2,701
ASU 2018-02 reclassification of stranded tax effects					1,750	(1,750)
Other comprehensive income (loss)	(106,847)					(105,175)	(1,672)
Constantia Labels acquisition	1,200						1,200
Issuance of common stock	2,104	$ 8	2,096
Issuance of common stock, shares		76
Restricted stock grant	0
Restricted stock grant, shares		19
Conversion of restricted share units	0
Conversion of restricted share units, shares		12
Stock-based compensation	2,498		2,498
Shares acquired under employee plans	(551)			(551)
Common stock dividends	(4,108)				(4,108)
Balance at Mar. 31, 2019	$ 628,703	$ 1,411	$ 406,846	$ (12,079)	$ 355,973	$ (126,166)	$ 2,718
Balance, shares at Mar. 31, 2019		20,860

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (28,667)	$ 71,897	$ 61,365
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation	60,474	46,913	33,480
Amortization of intangible assets	43,618	26,009	14,425
Goodwill impairment	99,155	0	0
Loss on sale of Southeast Asian durables business		512
Loss on write-off of deferred financing fees	186	660
Impairment loss on fixed assets related to facility closures	309
Amortization of deferred financing costs	5,085	3,174	1,665
Loss on benefit plans related to facility closures		55	133
Gain on previously held equity interests			(690)
Net (gain) loss on disposal of property, plant and equipment	178	1,150	(230)
Net (gain) loss on derivative contracts	(976)	4,018	103
Stock-based compensation expense	2,498	3,456	3,042
Excess tax benefit from stock-based compensation			(1,258)
Deferred income taxes, net	(10,294)	(39,289)	(2,938)
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	(3,829)	(35,410)	(7,457)
Inventories	(9,106)	(3,072)	(1,999)
Prepaid expenses and other assets	(18,020)	(12,069)	1,067
Accounts payable	24,344	(9,892)	171
Accrued expenses and other liabilities	(5,516)	(1,205)	6,331
Net cash provided by operating activities	159,439	56,907	107,210
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(81,898)	(60,105)	(46,146)
Investment in acquisitions, net of cash acquired		(1,024,644)	(28,839)
Net proceeds from sale of Southeast Asian durables business		3,620
Proceeds from sale of property, plant and equipment	3,266	798	1,350
Net cash used in investing activities	(78,632)	(1,080,331)	(73,635)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under revolving lines of credit	348,719	478,519	265,746
Payments under revolving lines of credit	(398,452)	(618,804)	(292,797)
Borrowings of long-term debt		1,250,000	2,156
Repayments of long-term debt	(22,699)	(10,808)	(6,572)
Payment of acquisition related deferred payments	(8,343)	(10,697)	(1,784)
Buyout of non-controlling interest			(514)
Proceeds from issuance of common stock	1,556	2,572	2,742
Excess tax benefit from stock-based compensation			1,258
Debt issuance costs	(10)	(26,669)
Dividends paid	(4,106)	(4,024)	(3,876)
Net cash provided by (used in) financing activities	(83,335)	1,060,089	(33,641)
Effect of foreign exchange rate changes on cash	(7,418)	5,814	(2,414)
Net increase (decrease) in cash and cash equivalents	(9,946)	42,479	(2,480)
Cash and cash equivalents, beginning of year	67,708	25,229	27,709
Cash and cash equivalents, end of year	$ 57,762	$ 67,708	$ 25,229

THE COMPANY

THE COMPANY	12 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
THE COMPANY	(1) THE COMPANY Multi-Color Corporation (Multi-Color, MCC, we, us, our or the Company), headquartered near Cincinnati, Ohio, is a leader in global label solutions supporting a number of the world’s most prominent brands including leading producers of home & personal care, wine & spirits, food & beverage, healthcare and specialty consumer products. MCC serves international brand owners in the North American, Latin American, EMEA (Europe, Middle East and Africa) and Asia Pacific regions with a comprehensive range of the latest label technologies in Pressure Sensitive, Cut and Stack, In-Mold, Shrink Sleeve, Heat Transfer, Roll Fed, and Aluminum Labels.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation References to 2019, 2018 and 2017 are for the fiscal years ended March 31, 2019, 2018 and 2017, respectively. The consolidated financial statements included herein have been prepared in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) and include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. Certain prior year balances have been reclassified to conform to current year classifications. As of March 31, 2019, the Company’s operations were conducted through the Consumer Product Goods, Wine & Spirits and Food & Beverage operating segments, which are aggregated into one reportable segment in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 280, “Segment Reporting.” The metrics used by management to assess the performance of the Company’s operating segments include revenue trends, gross profit margin and operating margin. The Company’s operating segments have historically had similar economic characteristics and are expected to have similar economic characteristics and long-term financial performance in future periods. Use of Estimates in Financial Statements In preparing financial statements in conformity with U.S. GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Business Combinations The Company allocates the purchase price of its acquisitions to the assets acquired and liabilities assumed based upon their respective fair values at the acquisition date. The Company utilizes management estimates and an independent third-party valuation firm to assist in determining these fair values. The excess of the acquisition price over the estimated fair value of the net assets is recorded as goodwill. Goodwill is adjusted for any changes to acquisition date fair value amounts made within the measurement period. Acquisition-related transaction costs are recognized separately from the business combination and expensed as incurred. Revenue Recognition On April 1, 2018, we adopted Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606)” and all related amendments, which provides revised guidance for revenue recognition. The standard’s core principle is that an entity should recognize the revenue for transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The standard defines a five-step process to recognize revenue and requires more judgment and estimates within the revenue recognition process than required under previous U.S. GAAP, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price, and allocating the transaction price to each separate performance obligation. See Note 3 for discussion of our accounting policies under the revised guidance. Cost of Revenues Cost of revenues primarily consists of direct materials and supplies consumed in the manufacture of product, as well as manufacturing labor, depreciation expense and direct overhead expense necessary to acquire and convert the purchased materials and supplies into finished product. Cost of revenues also includes inbound freight costs and costs to distribute products to customers. Selling, General and Administrative Expenses Selling, general and administrative expenses (SG&A) primarily consist of sales and marketing costs, corporate and divisional administrative and other costs and depreciation and amortization expense related to non-manufacturing assets. Advertising costs are charged to expense as incurred and were minimal in 2019, 2018 and 2017. Research and Development Costs Our product development group focuses on research and development, product commercialization and technical service support. The group includes chemical, packaging and field engineers who are responsible for developing and commercializing innovative label and application solutions. Technical service personnel also assist customers and manufacturers in improving container and label performance. The services provided by this group differentiate us from many of our competitors and drive our selection for the most challenging projects. Research and development costs are charged to expense as incurred and were $8,065, $5,834 and $5,274 in 2019, 2018 and 2017, respectively. Cash and Cash Equivalents The Company records all highly liquid short-term investments with maturities of three months or less as cash equivalents. At March 31, 2019 and 2018, the Company had cash in foreign bank accounts of $56,914 and $66,061, respectively. Outstanding checks of $15,272 and $2,280 were included in accounts payable as of March 31, 2019 and 2018, respectively. Accounts Receivable Our customers are primarily major consumer product, food & beverage, wine & spirits and container companies. Accounts receivable consist of amounts due from customers in connection with our normal business activities and are carried at sales value less allowance for doubtful accounts. The allowance for doubtful accounts is established to reflect the expected losses of accounts receivable based on past collection history, age, account payment status compared to invoice payment terms and specific individual risks identified. The delinquency of a receivable account is determined based on these factors. The Company does not accrue interest on aged accounts receivable. Supply Chain Financing and Factoring The Company has entered into supply chain financing agreements with certain customers and factoring arrangements with certain banks. The receivables for the agreements are sold without recourse to the customers’ banks and are accounted for as sales of accounts receivable. Losses on the sale of these receivables are included in selling, general and administrative expenses in the consolidated statements of operations, and losses of $1,964, $1,325 and $561 were recorded during 2019, 2018 and 2017, respectively. Inventories Inventories are valued at the lower of cost or net realizable value and substantially all are maintained using the FIFO (first-in, first-out) or specific identification method. Excess and obsolete inventory allowances are generally established based on inventory age. Property, Plant and Equipment Property, plant and equipment are stated at cost, net of accumulated depreciation. Depreciation expense, which includes the amortization of assets recorded under capital leases, is calculated using the straight-line method over the estimated useful lives of the assets, or the remaining terms of the leases, as follows: Buildings 20-39 years Building improvements 15 years Machinery and equipment 3-15 years Computers 3-5 years Furniture and fixtures 5-10 years Goodwill and Other Acquired Intangible Assets Impairment reviews comparing fair value to carrying value are highly judgmental and involve the use of significant estimates and assumptions, which determine whether there is potential impairment and the amount of any impairment charge recorded. Fair value assessments involve estimates of discounted cash flows that are dependent upon discount rates and long-term assumptions regarding future sales and margin trends, market conditions, cash flow and multiples of revenue and earnings before interest, taxes, depreciation and amortization (“EBITDA”). Actual results may differ from these estimates. Fair value measurements used in the impairment reviews of goodwill and intangible assets are Level 3 measurements. See further information about our policy for fair value measurements within this section below. See further information regarding our impairment tests in Note 8. Goodwill. Goodwill has been assigned to reporting units for purposes of impairment testing. The reporting units are the Company’s divisions. The Company can evaluate qualitative factors to determine if it is more likely than not that the fair value of a reporting unit is less than the carrying value and whether it is necessary to perform the quantitative goodwill impairment test. The impairment test compares the fair value of the reporting unit to the carrying value. The market and income approaches were weighted 25% and 75%, respectively, based on judgement of the comparability of recent transactions and the risks inherent in estimating future cash flows. Intangible Assets. Impairment of Long-Lived Assets We review long-lived assets for impairment when events or changes in circumstances indicate that assets might be impaired and the related carrying amounts may not be recoverable. Changes in market conditions and/or losses of a production line could have a material impact on the consolidated statements of operations. The determination of whether impairment exists involves various estimates and assumptions, including the determination of the undiscounted cash flows estimated to be generated by the assets involved in the review. The cash flow estimates are based upon our historical experience, adjusted to reflect estimated future market and operating conditions. Measurement of an impairment loss requires a determination of fair value. We base our estimates of fair values on quoted market prices when available, independent appraisals as appropriate and industry trends or other market knowledge. Tests are performed over asset groups at the lowest level of identifiable cash flows. Income Taxes The Company is subject to income taxes in the United States and numerous foreign jurisdictions. Income taxes are recorded based on the current year amounts payable or refundable. Deferred income taxes are recognized at the enacted tax rates for the expected future tax consequences related to temporary differences between amounts reported for income tax purposes and financial reporting purposes as well as any tax attributes. Deferred income taxes are not provided for the undistributed earnings of subsidiaries operating outside of the U.S. that have been permanently reinvested in foreign operations. We regularly review our deferred income tax balances for each jurisdiction to estimate whether these deferred income tax balances are more likely than not to be realized based on the information currently available. Projected future taxable income is based on forecasted results and assumptions as to the jurisdiction in which the income will be earned. The timing of reversals of any existing temporary differences is based on our methods of accounting for income taxes and current tax legislation. Unless the deferred tax balances are more likely than not to be realized, a valuation allowance is established to reduce the carrying values of any deferred tax balances until circumstances indicate that realization becomes more likely than not. The Company establishes reserves for income tax related uncertainties based on estimates of whether it is more likely than not that the tax uncertainty would be sustained upon challenge by the appropriate tax authorities. Provisions for and changes to these reserves and any related net interest and penalties are included in income tax expense in the consolidated statements of operations. Significant judgment is required when evaluating our tax provisions and determining our provision for income taxes. We regularly review our tax positions and we adjust the reserves as circumstances change. Earnings per Common Share Basic earnings per common share (EPS) is computed by dividing net income (loss) attributable to Multi-Color Corporation by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income (loss) attributable to Multi-Color Corporation by the sum of the weighted average number of common shares outstanding during the period plus, if dilutive, potential common shares outstanding during the period. Potential common shares outstanding during the period consist of restricted shares and the incremental common shares issuable upon the exercise of stock options and are reflected in diluted EPS by application of the treasury stock method. Derivative Financial Instruments The Company accounts for derivative financial instruments by recognizing derivative instruments as either assets or liabilities in the consolidated balance sheets at fair value and recognizing the resulting gains or losses as adjustments to the consolidated statements of operations or accumulated other comprehensive income (loss). The Company does not hold or issue derivative financial instruments for trading or speculative purposes. For derivative instruments that hedge the exposure to variability in expected future cash flows that are designated and qualify as cash flow hedges, the gain or loss on the derivative instrument is reported as a component of AOCI in stockholders’ equity and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. To receive hedge accounting treatment, cash flow hedges must be highly effective in offsetting changes to expected future cash flows on hedged transactions. For derivative instruments that hedge the exposure to changes in the fair value of an asset or a liability and that are designated and qualify as fair value hedges, both the net gain or loss on the derivative instrument as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in earnings in the current period. For derivative instruments that hedge the exposure to changes in foreign currency exchange rates used for translation of the net investment in a foreign operation and that are designated as a net investment hedge, the net gain or loss on the derivative instrument is reported in AOCI as part of the foreign currency translation adjustment. Derivatives that do not qualify as hedges are adjusted to fair value through earnings in the current period. Fair Value Measurements The carrying value of financial instruments approximates fair value. The Company defines fair value as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. To increase consistency and comparability in fair value measurements, the Company uses a three-level hierarchy that prioritizes the use of observable inputs. The three levels are: Level 1 – Quoted market prices in active markets for identical assets and liabilities Level 2 – Observable inputs other than quoted market prices in active markets for identical assets and liabilities Level 3 – Unobservable inputs The determination of where an asset or liability falls in the hierarchy requires significant judgment. Fair value measurements of nonfinancial assets and nonfinancial liabilities are primarily used in goodwill, other intangible assets and long-lived assets impairment analyses, the valuation of acquired intangibles and in the valuation of assets held for sale. The Company tests goodwill for impairment annually, as of the last day of January of each fiscal year. Impairment is also tested when events or changes in circumstances indicate that the assets’ carrying values may be greater than the fair values. Goodwill and intangible assets are typically valued using Level 3 inputs. Foreign Exchange The functional currency of each of the Company’s subsidiaries is generally the currency of the country in which the subsidiary operates or the U.S. Dollar. Assets and liabilities of foreign operations are translated using period end exchange rates, and revenues and expenses are translated using average exchange rates during each period. Translation (gains) and losses are reported in accumulated other comprehensive loss as a component of stockholders’ equity and were $136,726, $(93,892) and $25,254 during 2019, 2018 and 2017, respectively. Transaction gains and (losses) are reported in other income and expense in the consolidated statements of operations and were $149, $3,899 and $(533) during 2019, 2018 and 2017, respectively. New Accounting Pronouncements On April 1, 2018, we adopted ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)” and all related amendments, which provides revised guidance for revenue recognition. We adopted this guidance using the modified retrospective transition method, which means that periods beginning in fiscal 2019 are reported under this guidance while prior periods continue to be reported under previous guidance. See Note 3. In February 2018, the FASB issued ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (Topic 220),” which permits the reclassification of stranded tax effects resulting from the Tax Cuts and Jobs Act (the “Tax Act”) from accumulated other comprehensive income (AOCI) to retained earnings. This new guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, which for the Company is the fiscal year beginning April 1, 2019. Early adoption is permitted, and the update must be applied either at the beginning of the period of adoption or retrospectively to each period in which the effects of the Tax Act related to items remaining in AOCI are recognized. The Company elected to early adopt this update in the second quarter of fiscal 2019. As part of this adoption, the Company elected to reclassify $1,750 of stranded income tax effects of the Tax Act from AOCI to retained earnings at the beginning of the second quarter of fiscal 2019. In January 2017, the FASB issued ASU 2017-04, “Intangibles-Goodwill and Other,” which simplifies the accounting for goodwill impairment. This update removes step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. Goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. This update is effective for any annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019, which for the Company is any annual or interim goodwill impairment tests performed after April 1, 2020. Early adoption is permitted for any impairment tests performed after January 1, 2017. The Company elected to early adopt this update in the fourth quarter of fiscal 2019. Under the new guidance, the Company recognized goodwill impairment charges of $99,155 during the fourth quarter of fiscal 2019. See Note 8. In January 2017, the FASB issued ASU 2017-01, “Business Combinations,” which revises the definition of a business. The FASB’s new framework assists entities in evaluating whether a set (integrated set of assets and activities) should be accounted for as an acquisition of a business or a group of assets. The framework adds an initial screen to determine if substantially all of the fair value of the gross assets acquired is concentrated in a single asset or group of similar assets. If that screen is met, the set is not a business. This update was effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, which for the Company was the fiscal year beginning April 1, 2018. The Company adopted this update effective April 1, 2018, and its adoption did not have an impact on the Company’s consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, “Classification of Certain Cash Receipts and Cash Payments,” which addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The specific issues addressed include debt prepayment or debt extinguishment costs, contingent consideration payments made after a business combination and separately identifiable cash flows and application of the predominance principle. This update was effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, which for the Company was the fiscal year beginning April 1, 2018. The Company adopted this update effective April 1, 2018, and its adoption did not have an impact on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases,” which requires that lessees recognize almost all leases on the balance sheet as right-of-use assets and lease liabilities. For income statement purposes, leases will be classified as either finance leases or operating leases. This update is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years, which for the Company is the fiscal year beginning April 1, 2019. We will adopt the standard using the modified retrospective method which will be applied to leases that exist or are entered into on or after April 1, 2019. As a result, we will not adjust our comparative period financial information or make the new required lease disclosures for periods before the effective date. The Company will elect to utilize the package of practical expedients that allows entities to 1) not reassess whether any expired or existing contracts are or contain leases, 2) retain the existing classification of lease contracts as of the date of adoption, and 3) not reassess initial direct costs for any existing leases. The Company is in the final stages of evaluating its existing lease portfolio and is continuing to assess and quantify the amount of right-of-use assets and lease liabilities that will be included on its balance sheet as of April 1, 2019, with an estimated amount of $125,000. The Company is in the process of implementing a new lease accounting and administration software solution to manage and account for leases under the new guidance and is updating certain of its business processes and internal controls to meet the reporting and disclosure requirements of the new standard. We believe that the new standard will have a material impact on our consolidated balance sheet due to the recognition of right-of-use assets and liabilities for our operating leases, but it is not expected to have a material impact on our statements of operations or cash flows. The ASU will also require disclosures to allow financial statement users to better understand the amount, timing and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative requirements, providing additional information about the amounts recorded in the financial statements. No other new accounting pronouncement issued or effective during the fiscal year had or is expected to have a material impact on the consolidated financial statements.

REVENUE RECOGNITION

REVENUE RECOGNITION	12 Months Ended
	Mar. 31, 2019
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	(3) Revenue Recognition On April 1, 2018, we adopted ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)” and all related amendments, which provides revised guidance for revenue recognition. The standard’s core principle is that an entity should recognize the revenue for transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The standard defines a five-step process to recognize revenue and requires more judgment and estimates within the revenue recognition process than required under previous U.S. GAAP, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price, and allocating the transaction price to each separate performance obligation. We adopted the standard by applying the modified retrospective method to all contracts that were not completed as of the adoption date. The aggregate effect of any modifications to those contracts was reflected in identifying the satisfied and unsatisfied performance obligations, determining the transaction price, and allocating the price to the satisfied and unsatisfied performance obligations as of the adoption date. Accordingly, the comparative statements of operations and comparative balance sheet have not been restated. Adjustments due to ASU 2014-09 were as follows: Balance at March 31, 2018 Adjustments Balance at April 1, 2018 Assets: Accounts receivable, net $ 306,542 $ 253 $ 306,795 Inventories, net 167,950 (18,286 ) 149,664 Other current assets 17,468 21,657 39,125 Liabilities and Stockholders’ Equity: Accrued expenses and other liabilities $ 114,022 $ (215 ) $ 113,807 Deferred income tax liabilities 149,950 1,125 151,075 Accumulated other comprehensive loss (19,241 ) 13 (19,228 ) Retained earnings 384,671 2,701 387,372 Revenue is generated through the sale of products created to meet the packaging needs of our customers, culminating in a single performance obligation to produce labels with no alternate use, and revenue is recorded in an amount that reflects the net consideration that we expect to receive. Prices for our products are based on agreed upon rates with customers and do not include financing components or noncash consideration. The amount of consideration we receive and revenue we recognize is variable for certain customers and is impacted by incentives, including rebates, which are generally tied to achievement of certain sales volume levels. We recognize revenue when obligations under the terms of a contract with our customer are satisfied, in an amount that reflects the consideration we expect to receive in exchange for the product. Depending on the terms of the agreement with the customer, we recognize revenue either at a point-in-time (at shipment or delivery depending on agreed upon terms) or over-time when the Company has an enforceable right to payment for performance completed to date. We believe the costs incurred method is the best method to recognize our over-time revenue as costs incurred are proportionate to progress achieved in satisfying our performance obligations. The Company also has bill and hold arrangements with certain customers. For these arrangements, control over the product is transferred when the product is ready for physical transfer to the customer, as we have a present right to payment, the customer can direct the use of the product (i.e., request shipment to its facility), and legal title has passed to the customer. Revenue is recognized at the time the product is produced and we have transferred control to the customer. Payment terms typically range from 30-90 days, based upon agreed upon terms with the customer. Taxes assessed by a governmental authority that we collect from our customers that are both imposed on and concurrent with our revenue producing activities (such as sales tax, value-added tax, and excise taxes) are excluded from revenue. Shipping and handling costs incurred after control of the product is transferred to our customers are treated as fulfillment costs and not a separate performance obligation. MCC records contract assets when revenue is recognized but we have not yet invoiced the customer. This occurs when costs are incurred for the production of labels for over-time customers but the associated revenues have not been billed to the customer or when prepress costs related to fulfillment and completion of labels are incurred but the associated revenues for those labels have not been billed to the customer. Contract liabilities are recorded for expected shipping and handling charges for revenue recognized from over-time customers, billings to customers for prepress items to be utilized in the fulfilment and completion of labels that have not yet been fully utilized in the production process, and arrangements where MCC has billed the customer but has not yet shipped the labels and the transaction does not meet the criteria for bill and hold revenue recognition. Balance sheet location March 31, 2019 April 1, 2018 Contract assets Other current assets $ 29,143 $ 31,001 Contract liabilities Accrued expenses and other liabilities (10,654 ) (11,750 ) Net contract assets and liabilities $ 18,489 $ 19,251 MCC recognized revenues of $10,760 during fiscal year 2019, that were included in contract liabilities as of March 31, 2018. We elected the practical expedient to disregard the possible existence of a significant financing component related to payment on contracts as part of the adoption of ASU 2014-09, as we expect that customers will pay for the products within one year. Additionally, as all contracts are expected to have an original duration of one year or less, we elected the practical expedient to exclude disclosure of information regarding the aggregate amount and future timing of performance obligations that are unsatisfied or partially satisfied as of the end of the reporting period. The following table summarizes the March 31, 2019 consolidated statements of operations and consolidated balance sheet as if ASU 2014-09 had not been adopted and the adjustment required upon adoption of ASU 2014-09. Fiscal Year ended March 31, 2019 As Reported Adjustments Previous Standard Condensed Consolidated Statement of Income: Net revenues $ 1,725,554 $ 3,349 $ 1,728,903 Cost of revenues 1,403,634 2,713 1,406,347 Gross profit 321,920 636 322,556 Selling, general and administrative expenses 160,710 67 160,777 Operating income 61,344 569 61,913 Income tax benefit 12,332 206 12,538 Net income (loss) (28,667 ) 363 (28,304 ) As of March 31, 2019 As Reported Adjustments Previous Standard Condensed Consolidated Balance Sheet: Assets: Accounts receivable, net $ 300,945 $ (169 ) $ 300,776 Inventories, net 144,235 15,494 159,729 Other current assets 40,769 (18,230 ) 22,539 Liabilities and Stockholders’ Equity: Accrued expenses and other liabilities $ 94,739 $ 347 $ 95,086 Deferred income tax liabilities 160,017 (919 ) 159,098 Accumulated other comprehensive loss (126,166 ) 5 (126,161 ) Retained earnings 355,973 (2,338 ) 353,635 The following table presents our net revenues disaggregated by region and timing of revenue recognition for the fiscal year ended March 31, 2019. Fiscal Year ended March 31, 2019 Point-in-time Over-time North America $ 550,851 $ 224,380 Europe 672,349 3,970 Asia Pacific and Africa 246,657 2,684 South America 24,663 — Total $ 1,494,520 $ 231,034

ACQUISITIONS

ACQUISITIONS	12 Months Ended
	Mar. 31, 2019
Business Combinations [Abstract]
Acquisitions	(4) ACQUISITIONS Constantia Labels Summary On October 31, 2017, the Company completed its acquisition pursuant to the Sale and Purchase Agreement (as amended) with Constantia Flexibles Germany GmbH, Constantia Flexibles International GmbH, Constantia Flexibles Group GmbH and GPC Holdings B.V. (collectively, “Constantia Flexibles”), acquiring 100% of the Labels Division of Constantia Flexibles (“Constantia Labels”). Constantia Labels, headquartered in Vienna, Austria, is a leader in label solutions serving the food, beverage and consumer packaging goods industries. Constantia Labels has approximately 2,800 employees globally and 24 production plants across 14 countries, with major operations across Europe, Asia and North America. The acquisition included a 75% controlling interest in certain label operations in South Africa. The Company believes the combination of Constantia Labels’ food & beverage business with Multi-Color’s existing platforms, particularly in home & personal care and wine & spirits and emerging position in healthcare, will create a company with significant scale and geographic, end-market, customer and product diversification and additional growth opportunities. The results of Constantia Labels’ operations were included in the Company’s consolidated financial statements beginning on October 31, 2017. The purchase price for Constantia Labels consisted of the following: Cash from proceeds of borrowings $ 1,048,656 MCC common stock issued 237,820 Deferred payments 3,901 Contingent consideration 9,026 Purchase price, before cash acquired 1,299,403 Net cash acquired (11,234 ) Total purchase price $ 1,288,169 The Company issued 3,383 shares of its common stock to Constantia Flexibles as part of the consideration for the purchase of Constantia Labels. The Sale and Purchase Agreement provides for restrictions on the transfer of the shares issued to Constantia Flexibles and certain registration rights with respect to the shares. The fair value of the shares issued of $237,820 was calculated using the Company share price of $82.70, which was the closing price on October 31, 2017, discounted to reflect the temporary lack of liquidity. The cash portion of the purchase price was funded through the 4.875% Senior Notes due 2025 and funds from the Credit Agreement (see Note 9). The purchase price included deferred payments with a total fair value of $3,901, estimated as of the acquisition date, of which $807 was paid during the three months ended June 30, 2018 with the remaining to be paid out approximately 90 days after December 31, 2018, 2019 and 2020. In addition, the purchase price includes future performance based earnouts with a total fair value of $9,026, estimated as of the acquisition date. The future value of the earnouts is dependent upon whether the Verstraete in Mould Labels N.V. (Verstraete) business, which was acquired in conjunction with the Constantia Labels’ acquisition, meets or exceeds certain agreed upon EBITA (earnings before interest, taxes, and amortization) metrics over the three to five-year period following the acquisition. The earnouts have a minimum future payout of zero, and the maximum amount of the future payout is based on the amount of EBITA growth achieved relative to calendar 2017. The earnouts may be paid out approximately 90 days after December 31, 2020, 2021 or 2022. Net cash acquired includes $49,725 of cash acquired less $38,491 of assumed bank debt and capital leases. The Company spent $17,379 in acquisition expenses related to the Constantia Labels acquisition. These expenses were recorded in selling, general and administrative expenses in the consolidated statements of operations as follows: $18 in the third quarter of fiscal 2017, $744 in the first quarter of fiscal 2018, $3,545 in the second quarter of fiscal 2018, $11,299 in the third quarter of fiscal 2018, $632 in the fourth quarter of fiscal 2018, $1,246 in the first quarter of fiscal 2019 and a credit of $(105) in the second quarter of fiscal 2019. Purchase Price Allocation and Other Items Based on fair value estimates, the purchase price for Constantia Labels has been allocated to individual assets acquired and liabilities assumed as follows: Constantia Labels Assets Acquired Net cash acquired $ 11,234 Accounts receivable 117,248 Inventories 82,472 Property, plant and equipment 250,479 Intangible assets 432,400 Goodwill 673,561 Other assets 13,747 Total assets acquired 1,581,141 Liabilities Assumed: Accounts payable 93,812 Accrued income taxes payable 4,401 Accrued expenses and other liabilities 41,378 Deferred tax liabilities 139,847 Total liabilities assumed 279,438 Net assets acquired 1,301,703 Noncontrolling interests (2,300 ) Net assets acquired attributable to Multi-Color Corporation $ 1,299,403 The liabilities assumed in the Constantia Labels acquisition included a contingent liability of $9,671, estimated as of the acquisition date based on the Company’s best estimate. The contingent liability, payable to the pre-Constantia Flexibles owners of the respective entities, was based on future earnings of certain entities acquired. In the fourth quarter of fiscal 2018, $7,523 of the contingent liability was paid. The remaining contingent liability was paid during the three months ended March 31, 2019. The fair value of the noncontrolling interests for Constantia Labels was estimated based on market valuations performed by an independent third party using a combination of: (i) an income approach based on expected future discounted cash flows; and (ii) an asset approach. During fiscal 2019, the Company increased its valuation of the noncontrolling interests for Constantia Labels by $1,200. During fiscal 2019, goodwill decreased by $33,772 related to measurement period adjustments for the Constantia Labels acquisition. The measurement period adjustments primarily consisted of increases of $33,607 and $22,400 related to the valuation of property, plant and equipment and intangible assets, respectively, and decreases of $4,881 and $4,846 related to the valuation of net cash acquired (primarily due to the valuation of capital leases) and inventories, respectively. In addition, the valuation of deferred tax liabilities increased by $11,195 and accrued income taxes decreased by $3,574 due to completion of the final valuation of current and deferred income tax assets and liabilities. During fiscal 2019, we recognized a $(4,055) credit to depreciation expense and $911 During the fourth quarter of fiscal 2018, goodwill decreased by $8,912 due to finalization of the purchase price and increased by $4,083 related to measurement period adjustments for the Constantia Labels acquisition. The measurement period adjustments primarily consisted of a $1,768 and $5,311 decrease in the valuation of inventory and other assets, respectively, and a $1,601 increase in the valuation of accrued and other liabilities, partially offset by a $4,765 decrease in the valuation of the related deferred tax liabilities. The fair value of identifiable intangible assets acquired and their estimated useful lives are as follows: Constantia Labels Fair Value Useful Lives Customer relationships $ 407,300 19 years Technology 20,700 4 years Trade name 4,400 4 years Total identifiable intangible assets $ 432,400 Identifiable intangible assets are amortized over their useful lives based upon a number of assumptions including the estimated period of economic benefit and utilization. The weighted-average amortization period for identifiable intangible assets acquired in the Constantia Labels acquisition is 18 years. The goodwill for Constantia Labels is attributable to combining Constantia Labels’ food & beverage business with Multi-Color’s existing platforms, particularly in home & personal care and wine & spirits and emerging position in healthcare, thereby creating additional growth opportunities for both businesses utilizing the expanded global footprint and the acquired workforce. Goodwill arising from the Constantia Labels acquisition is not deductible for income tax purposes. The accounts receivable acquired as part of the Constantia Labels acquisition had a fair value of $117,248 at the acquisition date. The gross contractual value of the receivables prior to any adjustments was $119,883 and the estimated contractual cash flows that are not expected to be collected are $2,635. Pro Forma Information The following table provides the unaudited pro forma results of operations for the year ended March 31, 2018 and 2017 as if Constantia Labels had been acquired as of the beginning of fiscal year 2017. However, pro forma results do not include any anticipated synergies from the combination of the companies, and accordingly, are not necessarily indicative of the results that would have occurred if the acquisition had occurred on the date indicated or that may result in the future. 2018 2017 Net revenues $ 1,718,924 $ 1,588,090 Net income attributable to Multi-Color 87,147 78,768 Diluted earnings per share 4.24 3.86 The following is a reconciliation of actual net revenues and net income attributable to Multi-Color Corporation to unaudited pro forma net revenues and net income: 2018 2017 Net revenues Net income attributable to Multi-Color Net revenues Net income Multi-Color Corporation actual results $ 1,300,912 $ 71,951 $ 923,295 $ 60,996 Constantia Labels actual results (1) 418,012 23,426 664,795 52,109 Pro forma adjustments — (8,230 ) — (34,337 ) Pro forma results $ 1,718,924 $ 87,147 $ 1,588,090 $ 78,768 (1) Constantia Labels actual results include the seven months pre-acquisition The following table identifies the unaudited pro forma adjustments: 2018 2017 Constantia Labels financing costs $ 9,689 $ 15,524 Acquisition transaction costs 16,220 18 Incremental depreciation and amortization costs (8,468 ) (14,667 ) Incremental interest costs (29,368 ) (50,639 ) Tax effect of adjustments 3,697 15,427 Pro forma adjustments $ (8,230 ) $ (34,337 ) Other Acquisition Activity On October 11, 2017 9,557 On August 3, 2017 18- On January 3, 2017 In January 2017, the Company acquired an additional 67.6% of the common shares of Gironde Imprimerie Publicité (GIP) for $2,084 plus net debt assumed of $862. The purchase price included a deferred payment of $208 that was paid during the three months ended March 31, 2018. The Company acquired 30% of GIP as part of the Barat acquisition in fiscal 2016. Immediately prior to obtaining a controlling interest in GIP, the Company recognized a gain of $690 as a result of re-measuring our equity interest to its fair value of $771 based on the most recent share activity. In August 2017, the Company acquired the remaining 2.4% of the common shares of GIP in conjunction with the GEWA acquisition (see above). GIP is located in the Bordeaux region of France and specializes in producing labels for the wine & spirits market. On July 6, 2016 three On July 1, 2016 The results of operations of the acquisitions described above within this “Other Acquisition Activity” section have been included in the consolidated financial statements since the respective dates of acquisition and have been determined to be immaterial for purposes of additional disclosure. Sale of Southeast Asian durables business On July 3, 2017, the Company sold its 60% controlling interest in its Southeast Asian durables business to its minority shareholders for $3,620 in net cash proceeds. The Company recognized a loss of $512 on the sale of the business, which was recognized in other expense in the consolidated statements of operations.

ACCOUNTS RECEIVABLE ALLOWANCE

ACCOUNTS RECEIVABLE ALLOWANCE	12 Months Ended
	Mar. 31, 2019
Receivables [Abstract]
ACCOUNTS RECEIVABLE ALLOWANCE	(5) ACCOUNTS RECEIVABLE ALLOWANCE The Company’s customers are primarily producers of home & personal care, wine & spirits, food & beverage, healthcare and specialty consumer products. Accounts receivable consist of amounts due from customers in connection with our normal business activities and are carried at sales value less allowance for doubtful accounts. The allowance for doubtful accounts is established to reflect the expected losses of accounts receivable based on past collection history, age, account payment status compared to invoice payment terms and specific individual risks identified. The following table summarizes the activity in the allowance for doubtful accounts: 2019 2018 2017 Balance at beginning of year $ 2,704 $ 2,273 $ 2,497 Provision 312 319 234 Accounts written-off (281 ) (62 ) (384 ) Foreign exchange (137 ) 174 (74 ) Balance at end of year $ 2,598 $ 2,704 $ 2,273

INVENTORIES

INVENTORIES	12 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
INVENTORIES	(6) INVENTORIES The Company’s inventories as of March 31 consisted of the following: 2019 2018 Finished goods $ 60,493 $ 80,845 Work-in-process 21,010 21,156 Raw materials 62,732 65,949 Total inventories, net $ 144,235 $ 167,950

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	(7) PROPERTY, PLANT AND EQUIPMENT The Company’s property, plant and equipment as of March 31 consisted of the following: 2019 2018 Land $ 19,095 $ 13,766 Buildings, building improvements and leasehold improvements 123,517 114,790 Machinery and equipment 603,882 535,142 Furniture, fixtures, computer equipment and software 42,049 50,779 Construction in progress 24,313 31,505 Property, plant and equipment, gross 812,856 745,982 Accumulated depreciation (284,779 ) (235,980 ) Property, plant and equipment, net $ 528,077 $ 510,002 Total depreciation expense for 2019, 2018 and 2017 was $60,474, $46,913 and $33,480, respectively. As a result of our decision to close certain manufacturing facilities during fiscal 2019 and 2018, the Company determined that it was more likely than not that certain fixed assets at these facilities would be sold or otherwise disposed of significantly before the end of their estimated useful lives. As a result of the decision to close our manufacturing facility located in Cowansville, Canada, during fiscal 2019, non-cash fixed asset impairment charges of $ 309 As a result of the decision to consolidate our manufacturing facility located in Merignac, France into our existing facility in Libourne, France during fiscal 2018, non-cash fixed asset impairment charges of $125 were recorded, primarily to write off land and building improvements that were not transferred to Libourne and were abandoned. As a result of the decision to close our manufacturing facility located in Dormans, France, during fiscal 2018, non-cash fixed asset impairment charges of $25 were recorded, to adjust the carrying value of the land and building held for sale at the Dormans facility to their estimated fair value, less cost to sell, which were determined based on a quoted market price. The land and building at the Dormans facility were sold during fiscal 2018. These asset In addition, the Company performed impairment testing on long-lived assets at certain manufacturing locations during fiscal 2019 and 2018 due to the existence of impairment indicators. The estimated undiscounted future cash flows associated with the long-lived assets were greater than their carrying values, and therefore, no impairment was present in either of these two

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	12 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	(8) GOODWILL AND INTANGIBLE ASSETS The changes in the Company’s goodwill consisted of the following: 2019 2018 Balance at beginning of year Goodwill, gross $ 1,210,179 $ 424,941 Accumulated impairment losses (13,545 ) (12,391 ) Goodwill, net 1,196,634 412,550 Activity during the year Acquisitions — 721,874 Adjustments to prior year acquisitions (34,478 ) (359 ) Currency translation (84,457 ) 63,096 Impairment (99,155 ) — Sale of Southeast Asian durables business — (527 ) Balance at end of year Goodwill, gross 1,089,010 1,210,179 Accumulated impairment losses (110,466 ) (13,545 ) Goodwill, net $ 978,544 $ 1,196,634 See Note 4 for further information regarding acquisitions. In conjunction with our annual impairment tests as of January 31, 2019 and January 31, 2018, the Company performed quantitative assessments for all of our reporting units. The impairment tests compare the fair value of each reporting unit to its carrying value. We estimated the fair value of each reporting unit using a combination of: (i) a market approach based on multiples of revenue and EBITDA from recent comparable transactions and other market data; and (ii) an income approach based on expected future cash flows discounted at rates ranging between 8.5% to 13.0% in 2019 and 8.5% to 11.5% in 2018. The discount rate reflects the risk associated with each respective reporting unit, including the industry and geographies in which they operate. In fiscal 2019, the market and income approaches were weighted 25% and 75%, respectively, based on judgment of the comparability of the recent transactions and the risks inherent in estimating future cash flows. We considered recent economic and industry trends, as well as risk in executing our current plans from the perspective of a hypothetical buyer in estimating expected future cash flows in the income approach. For most of our reporting units, the impairment test did not indicate impairment as the estimated fair value of the reporting units exceeded the carrying amount. For two of our reporting units, In-Mold Labels Food & Beverage and Europe Food & Beverage, both of which were acquired in fiscal 2018 as part of the Constantia Labels acquisition, the carrying amounts exceeded the estimated fair value of the reporting units. During the fourth quarter of fiscal 2019, the Company adopted ASC 2017-14, non-cash Significant assumptions used to estimate the fair value of our reporting units include estimates of future cash flows, discount rates and multiples of revenue and EBITDA. These assumptions are typically not considered individually because assumptions used to select one variable should also be considered when selecting other variables; however, sensitivity of the overall fair value assessment to each significant variable was also considered. No events or changes in circumstances occurred in 2019 and 2018 that required goodwill impairment testing in between annual tests. The Company’s intangible assets as of March 31 consisted of the following: 2019 2018 Gross Carrying Accumulated Net Gross Carrying Accumulated Net Carrying Customer relationships $ 641,385 $ (119,821 ) $ 521,564 $ 648,273 $ (87,560 ) $ 560,713 Technologies 21,540 (8,512 ) 13,028 21,721 (3,586 ) 18,135 Trademarks and trade names 4,372 (1,635 ) 2,737 99 (66 ) 33 Non-compete 3,824 (2,957 ) 867 3,880 (2,528 ) 1,352 Total $ 671,121 $ (132,925 ) $ 538,196 $ 673,973 $ (93,740 ) $ 580,233 The intangible assets were established in connection with completed acquisitions. They are amortized, using the straight-line method, over their estimated useful lives based on a number of assumptions including customer attrition rates, percentage of revenue attributable to technologies, royalty rates and projected future revenue growth. The weighted-average amortization period for the intangible assets acquired in fiscal 2018 is 18 years. There were no acquisitions in fiscal 2019. Total amortization expense of intangible assets for 2019, 2018 and 2017 was $43,618, $26,009 and $14,425, respectively. The estimated useful lives for each intangible asset class are as follows: Customer relationships 9 to 21 years Technologies 1 to 8 years Trademarks and trade names 1 to 4 years Non-compete 2 to 7 years The annual estimated amortization expense for future years is as follows: Fiscal 2020 $ 42,079 Fiscal 2021 41,635 Fiscal 2022 40,326 Fiscal 2023 37,300 Fiscal 2024 34,183 Thereafter 342,673 Total $ 538,196 The Company performed impairment testing on long-lived assets, including intangibles, at certain manufacturing locations during fiscal 2019 and 2018 due to the existence of impairment indicators. The estimated undiscounted future cash flows associated with the long-lived assets were greater than their carrying values, and therefore, no impairment was present in either of these two years related to intangible assets.

DEBT

DEBT	12 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Debt	(9) DEBT The components of the Company’s debt as of March 31 consisted of the following: 2019 2018 Unamortized Debt Less Unamortized Debt Less Debt Issuance Unamortized Debt Issuance Unamortized Principal Costs Debt Issuance Costs Principal Costs Debt Issuance Costs 6.125% Senior Notes (1) $ 250,000 $ (2,473 ) $ 247,527 $ 250,000 $ (3,148 ) $ 246,852 4.875% Senior Notes (1) 600,000 (8,420 ) 591,580 600,000 (9,699 ) 590,301 Credit Agreement Term Loan A Facility (2) 135,625 (3,125 ) 132,500 148,125 (3,996 ) 144,129 Term Loan B Facility (3) 493,750 (5,165 ) 488,585 498,750 (6,280 ) 492,470 U.S. Revolving Credit Facility (4) (5) — — — 56,945 (5,442 ) 51,503 Australian Revolving Sub-Facility (4) 35,977 (473 ) 35,504 33,033 (605 ) 32,428 Capital leases 36,255 — 36,255 36,288 — 36,288 Other subsidiary debt 5,402 — 5,402 4,714 — 4,714 Total debt 1,557,009 (19,656 ) 1,537,353 1,627,855 (29,170 ) 1,598,685 Less current portion of debt (23,059 ) — (23,059 ) (20,864 ) — (20,864 ) Total long-term debt $ 1,533,950 $ (19,656 ) $ 1,514,294 $ 1,606,991 $ (29,170 ) $ 1,577,821 (1) The 6.125% Senior Notes are due on December 1, 2022. The 4.875% Senior Notes are due on November 1, 2025. (2) The Company is required to make mandatory principal payments on the outstanding borrowings under the Term Loan A Facility. The principal payments are due on the last day of March, June, September and December of each year, commencing on March 31, 2018 through the maturity date of October 31, 2022. (3) The Company is required to make mandatory principal payments on the outstanding borrowings under the Term Loan B Facility. The principal payments are due on the last day of March, June, September and December of each year, commencing on March 31, 2018 through the maturity date of October 31, 2024. (4) Borrowings under the U.S. Revolving Credit Facility and Australian Revolving Sub-Facility mature on October 31, 2022. (5) Unamortized debt issuance costs related to the U.S. Revolving Credit Facility were reclassified to prepaid expenses and other long-term assets in the consolidated balance sheet as of March 31, 2019, as there are no borrowings outstanding on the U.S. Revolving Credit Facility as of March 31, 2019. The carrying value of debt under the Credit Agreement approximates fair value. The fair value of the Senior Notes is based on observable inputs, including quoted market prices (Level 2). The fair values of the 4.875% Senior Notes and 6.125% Senior Notes were approximately $616,500 and $257,188, respectively, as of March 31, 2019. The fair 4.875 6.125% Senior Notes were 564,000 $258,750, The following is a schedule of future annual principal payments as of March 31, 2019: Debt Capital Leases Total Fiscal 2020 $ 18,509 $ 4,550 $ 23,059 Fiscal 2021 17,331 3,999 21,330 Fiscal 2022 22,005 3,107 25,112 Fiscal 2023 389,158 2,925 392,083 Fiscal 2024 5,000 2,635 7,635 Thereafter 1,068,751 19,039 1,087,790 Total $ 1,520,754 $ 36,255 $ 1,557,009 Senior Secured Credit Facility In conjunction with the Constantia Labels acquisition, effective October 31, 2017 the Company entered into a credit agreement (the “Credit Agreement”) with various lenders. The Credit Agreement replaced the Company’s previous credit agreement and consists of (i) a senior secured first lien term loan A facility (the “Term Loan A Facility”) in an aggregate initial principal amount of $150,000 with a five year maturity, (ii) a senior secured first lien term loan B facility (the “Term Loan B Facility”) in an aggregate initial principal amount of $500,000 with a seven year maturity, and (iii) a senior secured first lien revolving credit facility (the “Revolving Credit Facility”) in an aggregate principal amount up to $400,000, comprised of a $360,000 U.S. revolving credit facility (the “U.S. Revolving Credit Facility“) and a $40,000 U.S. Dollar equivalent Australian sub-facility (the “Australian Revolving Sub-Facility”), each with a five year maturity. On October 16, 2018, the Company amended the terms of the Term Loan B Facility upon entering into Amendment No. 1 to the Credit Agreement, which lowered the applicable margin payable on LIBOR indexed loans thereunder from 225 bps to 200 bps. The Credit Agreement contains customary mandatory and optional prepayment provisions and customary events of default. The Credit Agreement’s Term Loan A Facility, Term Loan B Facility and U.S. Revolving Credit Facility (together, the “U.S. facilities”) are guaranteed by substantially all of the Company’s direct and indirect wholly owned domestic subsidiaries, and such guarantors pledged substantially all their assets as collateral to secure the U.S. facilities. The Australian Revolving Sub-Facility is secured by substantially all of the assets of the Australian borrower and its direct and indirect subsidiaries. The Credit Agreement can be used for working capital, capital expenditures and other corporate purposes and to fund permitted acquisitions (as defined in the Credit Agreement). Loans under the Credit Agreement bear interest at variable rates plus a margin, based on the Company’s consolidated secured net leverage ratio. The weighted average interest rates on the Company’s borrowings are as follows: March 31, 2019 March 31, 2018 Term Loan A Facility 4.50 % 4.13 % Term Loan B Facility 4.50 % 4.13 % U.S. Revolving Credit Facility — 4.42 % Australian Revolving Sub-Facility 3.85 % 4.13 % The Credit Agreement contains customary representations and warranties as well as customary negative and affirmative covenants, which require the Company to maintain the following financial covenants at the end of each quarter: (i) the consolidated secured net leverage ratio as of the last day of any fiscal quarter of the Company shall not exceed 4.50 to 1.00 for the fiscal quarters ended during the period of March 31, 2017 through, and including June 30, 2019 and (ii) the consolidated secured net leverage ratio as of the last day of any fiscal quarter of the Company shall not exceed 4.25 to 1.00 for the fiscal quarters ended during the period of September 30, 2019 and thereafter. The Credit Agreement, the indenture governing the 4.875% Senior Notes (the “4.875% Senior Notes Indenture”) and the indenture governing the 6.125% Senior Notes limit the Company’s ability to incur additional indebtedness. Additional covenants contained in the Credit Agreement and the Indentures, among other things, restrict the ability of the Company to dispose of assets, incur guarantee obligations, make restricted payments, create liens, make equity or debt investments, change the business conducted by the Company and its subsidiaries, and engage in certain transactions with affiliates. Under the Credit Agreement and the Indentures, certain changes in control of the Company could result in the occurrence of an Event of Default. In addition, the Credit Agreement limits the ability of the Company to modify terms of the Indentures. As of March 31, 2019, the Company was in compliance with the covenants in the Credit Agreement and the Indentures. Available borrowings under the U.S. Revolving Credit Facility and Australian Revolving Sub-Facility were $354,241 and $ 4,023 4.875% Senior Notes The $600,000 aggregate principal amount of 4.875% Senior Notes due 2025 (the “4.875% Senior Notes”) were issued in October 2017 to fund the acquisition of Constantia Labels. The 4.875% Senior Notes are unsecured senior obligations of the Company. Interest is payable on the 4.875% Senior Notes on May and November of each year beginning May 1, 2018 until the maturity date of November 1, 2025. The Company’s obligations under the 4.875% Senior Notes are guaranteed by certain of the Company’s existing direct and indirect wholly-owned domestic subsidiaries. 6.125% Senior Notes The $250,000 aggregate principal amount of 6.125% Senior Notes due 2022 (the “6.125% Senior Notes”) were issued in November 2014. The 6.125% Senior Notes are unsecured senior obligations of the Company. Interest is payable on the 6.125% Senior Notes on June and December of each year beginning June 1, 2015 until the maturity date of December 1, 2022. The Company’s obligations under the 6.125% Senior Notes are guaranteed by certain of the Company’s existing direct and indirect wholly-owned domestic subsidiaries. Debt Issuance Costs In conjunction with Amendment No. 1 to the Credit Agreement, the Company paid $730 in third-party fees of which $720 related to a debt modification and were recorded to selling, general and administrative expenses during the third quarter of fiscal 2019. The remaining $10 in third-party fees related to new lenders entering the syndication and were deferred. In addition, $185 of existing unamortized debt issuance costs related to lenders exiting the Term Loan B were written-off to interest expense as a loss on extinguishment of debt. The remaining unamortized debt issuance costs related to a debt modification and, along with the new deferred costs, are being amortized over the remaining term of the Term Loan B Facility. In conjunction with the issuance of the Credit Agreement, the Company incurred $16,331 $660 in unamortized debt issuance costs related to a debt extinguishment were written-off to interest expense during the three months ended December 31, 2017. The remaining unamortized fees under the prior credit agreement related to a debt modification and are being amortized over the term of the Revolving Credit Facility. The Company incurred $10,338 in debt issuance costs associated with the issuance of the 4.875% Senior Notes, which are being deferred and amortized over the term of the 4.875% Senior Notes. The Company recorded $5,085, $3,174 and $1,665 in interest expense in 2019, 2018 and 2017, respectively, in the consolidated statements of to amortize deferred financing costs. The Company incurred $4,587 in commitment fees related to a senior unsecured bridge facility (the “Bridge Facility”), which were written off to interest expense upon expiration of the availability of the Bridge Facility in 2018. Capital Leases The present value of the net minimum payments on the capitalized leases as of March 31 is as follows: 2019 2018 Total minimum lease payments $ 44,688 $ 49,521 Less amount representing interest (8,433 ) (13,233 ) Present value of net minimum lease payments 36,255 36,288 Current portion (4,550 ) (4,191 ) Capitalized lease obligations, less current portion $ 31,705 $ 32,097 Included in the consolidated balance sheet as of March 31, 2019 under property, plant and equipment are cost and accumulated depreciation related to capitalized leases of $42,710 and $6,336, respectively. Included in the consolidated balance sheet as of March 31, 2018 under property, plant and equipment are cost and accumulated depreciation related to capitalized leases of $49,640 and $9,841, respectively. The capitalized leases carry interest rates from 0.97% to 12.25% and mature from fiscal 2020 to fiscal 2032.

RISK MANAGEMENT ACTIVITIES AND

RISK MANAGEMENT ACTIVITIES AND FINANCIAL INSTRUMENTS	12 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Risk Management Activities and Financial Instruments	(10) RISK MANAGEMENT ACTIVITIES AND FINANCIAL INSTRUMENTS The Company is exposed to market risks, both directly and indirectly, such as currency fluctuations and interest rate movement. To the extent the Company deems it to be appropriate, derivative instruments and hedging activities are used as a risk management tool to mitigate the potential impact of certain risks, primarily foreign currency exchange risk and interest rate risk. The Company uses various types of derivative instruments including, but not limited to, forward contracts and swaps. The Company formally assesses, designates, and documents as a hedge of an underlying exposure each qualifying derivative instrument that will be accounted for as an accounting hedge at inception. Additionally, the Company assesses, both at inception and at least quarterly thereafter, whether the financial instruments used in the hedging transactions are effective at offsetting changes in either the fair values or cash flows of the underlying exposures. Interest Rate Risk Management The Company uses interest rate swap agreements (the “Swaps”) to minimize its exposure to interest rate fluctuations on variable rate debt borrowings. Swaps involve the exchange of fixed and variable rate interest payments and do not represent an actual exchange of the underlying notional amounts between the two parties. The Company had three forward starting non-amortizing Swaps with a total notional amount of $125,000 to convert variable rate debt to fixed rate debt. The Swaps became effective October 2012 and expired in August 2016. The Swaps resulted in interest payments based on an average fixed rate of 1.396% plus the applicable margin per the requirements in the previous credit agreement. In conjunction with entering into the previous credit agreement on November 21, 2014 (see Note 9), the Company de-designated the Swaps as a cash flow hedge. The cumulative loss on the Swaps recorded in accumulated other comprehensive income (AOCI) at the time of de-designation was reclassified into interest expense in the same periods during which the originally hedged transactions affected earnings, as these transactions were still probable of occurring. Subsequent to November 21, 2014, changes in the fair value of the de-designated Swaps were immediately recognized in interest expense. In conjunction with entering into the Credit Agreement (see Note 9), the Company entered into two spot non-amortizing Swaps with a total notional amount of $300,000 to convert variable rate debt to fixed rate debt. These Swaps became effective October 2017, expired in October 2018, and resulted in interest payments of 1.5625% plus the applicable margin per the requirements in the Credit Agreement. The Company also entered into two forward starting non-amortizing Swaps with a total notional amount of $300,000 to convert variable rate debt to fixed rate debt. These Swaps became effective in October 2018, will expire in October 2022, and result in interest payments of 2.1345% plus the applicable margin per the requirements in the Credit Agreement. In addition, the Company entered into a forward starting non-amortizing Swap with a total notional amount of $100,000 to convert variable rate debt to fixed rate debt. This Swap will become effective in May 2019, will expire in October 2022, and will result in interest payments of 2.8060% plus the applicable margin per the requirements of the Credit Agreement. Upon inception, the Swaps were designated as cash flow hedges under ASU 2017-12, with gains and losses, net of tax, measured on an ongoing basis, recorded in accumulated other comprehensive income (loss). Foreign Currency Risk Management Foreign currency exchange risk arises from our international operations as well as from transactions with customers or suppliers denominated in currencies other than the U.S. Dollar. The functional currency of each of the Company’s subsidiaries is generally the currency of the country in which the subsidiary operates or the U.S. Dollar. At times, the Company uses foreign currency forward contracts to minimize the impact of fluctuations in currency exchange rates. The Company periodically enters into foreign currency forward contracts to fix the purchase price of foreign currency denominated firm commitments. Certain of these forward contracts are designated as fair value hedges and changes in the fair value of the contracts are recorded in other income and expense in the consolidated statements of operations in the same period during which the related hedged items affect the consolidated statements of operations. In addition, the Company periodically enters into short-term foreign currency forward contracts to fix the U.S. Dollar value of certain intercompany loan payments, which typically settle in the following quarter. During 2019 and 2018, these forward contracts were not designated as hedging instruments; therefore, changes in the fair value of the contracts were immediately recognized in other income and expense in the consolidated statements of operations. In June 2018, the Company began entering into foreign exchange forward contracts to fix the purchase price in U.S. Dollars of foreign currency denominated raw materials. These forward contracts are designated as cash flow hedges with gains and losses, net of tax, measured on an ongoing basis, recorded in AOCI. Net Investment Hedging In September 2017, as a means of managing foreign currency risk related to our significant operations in Europe, the Company executed four fixed-for-fixed cross currency swaps, in which the Company will pay Euros and receive U.S. Dollars with a combined notional amount of €400,000, which mature in November 2025. This will effectively convert U.S. Dollar denominated debt to Euro denominated debt. The Company designated €205,000 of swap notional as a net investment hedge of the Company’s net investment in our European operations under ASU 2017-12 The remaining €195,000 of swap notional was not designated as an accounting hedge in September 2017. Therefore, changes in fair value of the derivative instruments were recognized in other income and expense in the consolidated statements of . Subsequently, in November 2017, the Company formally designated the remaining €195,000 of swap notional as a net investment hedge under ASU 2017-12, bringing the total designated notional value to €400,000. Effective November 1, 2017, hedge accounting was applied to the newly designated swap notional of €195,000. Disclosures about Derivative Instruments All of the Company’s derivative assets and liabilities measured at fair value are classified as Level 2 within the fair value hierarchy. The Company determines the fair values of its derivatives based on valuation models which project future cash flows and discount the future amounts to a present value using market based observable inputs including interest rate curves, foreign currency rates, futures and basis point spreads, as applicable. Fair Value Derivatives Designated as Hedging Instruments Balance Sheet Location 2019 2018 Assets: Cross currency swaps (Net investment hedges) Other current assets $ 5,127 $ 4,295 Interest rate swaps (Cash flow hedges) Other current assets 743 920 Foreign exchange forward contracts (Fair value hedges) Other current assets — 127 Foreign exchange forward contracts (Cash flow hedges) Other current assets 5 0 Interest rate swaps (Cash flow hedges) Other long-term assets — 4,956 Liabilities: Interest rate swaps (Cash flow hedges) Other current liabilities $ 377 $ — Foreign exchange forward contracts (Fair value hedges) Other current liabilities 234 190 Foreign exchange forward contracts (Cash flow hedges) Other current liabilities 345 — Cross currency swaps (Net investment hedges) Other long-term liabilities 1,563 50,019 Interest rate swaps (Cash flow hedges) Other long-term liabilities 2,353 — Fair Value Derivatives Not Designated as Hedging Instruments Balance Sheet Location 2019 2018 Assets: Foreign exchange forward contracts Other current assets $ 26 $ — Liabilities: Foreign exchange forward contracts Other current liabilities $ 30 $ 127 The amounts of gains and (losses) recognized in AOCI net of reclassifications into earnings, during the twelve months ended March 31, 2019 and 2018 are as follows: Derivatives Designated as Hedging Instruments 2019 2018 Cross currency swaps (Net investment hedges) (1) $ 36,545 $ (29,667 ) Interest rate swaps (Cash flow hedges) (6,111 ) 4,259 Foreign exchange forward contracts (527 ) — (1) The net gain of $36,545 $4,833 $43,480, net of tax of $ (11,768) The amounts of gains and (losses) reclassified from AOCI into earnings for the twelve months ended March 31, 2019 and 2018 are as follows: Derivatives Designated as Hedging Instruments 2019 2018 Cross currency swaps (1) $ 5,226 $ 4,234 Interest rate swaps (2) 674 (101 ) Foreign exchange forward contracts (2) (588 ) — (1) The Company had a $5,226 excluded component gain in AOCI which was recognized into income during the twelve months ended March 31, 2019. (2) During the next 12 months, $26 of gains included in the March 31, 2019 AOCI balance are expected to be reclassified into interest expense. The amounts of gains and (losses) included in earnings from qualifying and non-qualifying financial instruments used in hedging transactions for the twelve months ended March 31, 2019 and 2018 are as follows: Derivatives Not Designated as Hedging Instruments Statement of Income Location 2019 2018 Foreign currency contract-Constantia purchase price Other income (expense), net $ — $ 8,109 Foreign currency contracts-Other Other income (expense), net 6,161 (7,198 ) Gain (loss) on underlying hedged items Other income (expense), net (5,340 ) 6,510 Cross currency swaps Interest expense 976 (4,018 ) Derivatives Designated as Hedging Instruments Statement of Income Location 2019 2018 Foreign exchange forward contracts (Fair value hedges) Other income (expense), net $ (46 ) $ (245 ) Gain on underlying hedged items Other income (expense), net 46 245

ACCRUED EXPENSES AND OTHER LIAB

ACCRUED EXPENSES AND OTHER LIABILITIES	12 Months Ended
	Mar. 31, 2019
Payables and Accruals [Abstract]
ACCRUED EXPENSES AND OTHER LIABILITIES	(11) ACCRUED EXPENSES AND OTHER LIABILITIES The Company’s accrued expenses and other liabilities as of March 31 consisted of the following: 2019 2018 Accrued payroll and benefits $ 41,441 $ 45,418 Accrued income taxes 6,632 13,838 Professional fees 4,534 1,965 Accrued taxes other than income taxes 1,671 4,682 Accrued interest 13,746 16,480 Customer rebates 3,750 2,578 Exit and disposal costs related to facility closures 210 457 Deferred payments 1,881 9,735 Deferred revenue 10,654 11,887 Derivative liabilities 986 317 Other 9,234 6,665 Total accrued expenses and other liabilities $ 94,739 $ 114,022

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	12 Months Ended
	Mar. 31, 2019
Retirement Benefits [Abstract]
EMPLOYEE BENEFIT PLANS	(12) EMPLOYEE BENEFIT PLANS The Company maintains a 401K retirement savings plan (Plan) for U.S. employees who meet certain service requirements. The Plan provides for voluntary contributions by eligible U.S. employees up to a specified maximum percentage of gross pay. At the discretion of the Company’s Board of Directors, the Company may contribute a specified matching percentage of the employee contributions. The Company also makes contributions to various retirement savings plans for Australian employees as required by law equal to 9% of gross pay and to other voluntary and involuntary defined contribution plans in Scotland, China, Malaysia and other subsidiaries outside the U.S. Company contributions to these retirement savings plans were $10,194, $7,217 and $5,189 in 2019, 2018 and 2017, respectively. The Company sponsors several pension plans, including our pension plan for certain former U.S. employees as well as other subsidiary pension plans around the globe. Our U.S. pension plan is a single employer defined benefit pension plan (Pension Plan), which covers eligible union employees at our former Norway, Michigan plant who were hired prior to July 14, 1998. The Pension Plan provides benefits based on a flat payment formula and years of credited service at a normal retirement age of 65. The benefits are actuarially reduced for early retirement. The Company recorded $10, $56 and $145 of net periodic benefit cost in 2019, 2018 and 2017, respectively. The Company used a March 31 measurement date (the fiscal year end) for the Pension Plan in 2019 and 2018. The Pension Plan’s benefit obligation was $1,071 and $1,008 as of March 31, 2019 and 2018, respectively. The fair value of the Pension Plan’s assets was $632 and $498 as of March 31, 2019 and 2018, respectively. As of March 31, 2019 and 2018, the Pension Plan’s unfunded obligation was $439 and $510, respectively. Non-U.S. Plans Certain subsidiaries outside the U.S. sponsor defined benefit postretirement plans that cover eligible regular employees. The Company deposits funds and/or purchases investments to fund these plans in addition to providing reserves for these plans. Benefits under the defined benefit plans are typically based on years of service and the employee’s compensation. The range of assumptions that are used for the non-U.S. defined benefit plans reflect the different economic environments within the various countries. These defined benefit plans are recorded based upon local accounting standards and are immaterial to the Company’s financial position and results of operations. The Company’s largest defined benefit postretirement plan outside the U.S. covers eligible employees at our Münden, Germany plant (Münden Plan). The Münden Plan recorded $18 and $47 of net periodic benefit cost in 2019 and 2018, respectively. The Münden Plan’s benefit obligation, plan assets and unfunded obligation as of March 31, 2019 were $3,028, $2,958 and $70, respectively. The Münden Plan’s benefit obligation, plan assets and unfunded obligation as of March 31, 2018 were $3,075, $3,037 and $38, respectively.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	(13) INCOME TAXES Earnings before income taxes were as follows: 2019 2018 2017 U.S. $ 29,964 $ 6,848 $ 65,113 Foreign (46,299 ) 46,854 23,100 Total $ (16,335 ) $ 53,702 $ 88,213 The provision (benefit) for income taxes as of March 31 includes the following components: 2019 2018 2017 Current: Federal $ 420 $ 2,783 $ 16,889 State and local 2,306 611 2,498 Foreign 15,069 20,641 9,298 Total Current 17,795 24,035 28,685 Deferred: Federal 2,438 (18,406 ) 987 State and local (1,764 ) 70 (147 ) Foreign (6,137 ) (23,894 ) (2,677 ) Total Deferred (5,463 ) (42,230 ) (1,837 ) Total $ 12,332 $ (18,195 ) $ 26,848 The following is a reconciliation between the U.S. statutory federal income tax rate and the effective tax rate: 2019 2018 2017 U.S. federal statutory rate 21.0 % 31.5 % 35.0 % State and local income taxes, net of federal income tax benefit (1.9 )% 0.4 % 1.7 % Section 199 deduction — — (1.8 )% Foreign derived intangible income deduction 4.8 % — — International rate differential 45.1 % (5.1 )% (3.3 )% Unrecognized tax benefits 19.4 % 0.6 % (0.9 )% Foreign permanent differences 3.3 % (1.1 )% (2.1 )% Non-deductible transaction costs (8.3 )% 4.2 % 0.2 % Valuation allowances (3.6 )% 2.0 % 1.2 % U.S. Repatriation Tax 3.2 % 5.7 % — Goodwill impairment (176.6 )% — — Share-based Compensation 1.4 % (2.5 )% — Tax Rate Changes 18.0 % (70.8 )% — U.S. Research & Development Credit 6.6 % -1.5 % -0.8 % Other foreign taxes (6.9 )% 1.6 % 0.8 % Other (1.0 )% 1.1 % 0.4 % Effective tax rate (75.5 )% (33.9 )% 30.4 % During the fourth quarter of the Company’s fiscal year ended March 31, 2019, a goodwill impairment was recorded on various entities for which a tax deduction is not permitted. See Note 8 for additional details. On December 22, 2017, the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act significantly revises the future ongoing U.S. corporate income tax by, among other things, lowering U.S. corporate income tax rates and implementing a territorial tax system. As the Company has a March 31 fiscal year-end, the lower corporate income tax rate was phased in, resulting in a U.S. statutory federal rate of 31.5% for the Company’s fiscal year ending March 31, 2018, and 21% for subsequent fiscal years. The Tax Act eliminates the domestic manufacturing deduction and implements certain transitional impacts to the Company, including a one-time repatriation tax on deemed repatriation of historical earnings of foreign subsidiaries. In addition, the reduction of the U.S. corporate tax rate caused the Company to adjust the U.S. deferred tax assets and liabilities to the lower federal base rate of 21 As of March 31, 2018, the Company recorded a discrete net tax benefit of $18,268 as a result of the Tax Act, comprised of an estimated repatriation tax charge of $3,075 The majority of the Company’s earnings from foreign subsidiaries are considered permanently reinvested. The repatriation tax resulted in certain previously untaxed non-U.S. earnings being included in the U.S. federal and state 2017 taxable income. As a result of the Tax Act, the Company analyzed its global working capital requirements and the potential tax liabilities that would be incurred if certain non-U.S. subsidiaries made distributions, which include local country withholding tax and potential U.S. state taxation. At March 31, 2019, $1,189 of deferred tax was recorded for certain undistributed earnings of non-U.S. subsidiaries. Historically, no deferred taxes have been provided for any portion of the remaining undistributed earnings of the Company’s subsidiaries since these earnings have been, and will continue to be, permanently reinvested in these subsidiaries. For many reasons, including the number of legal entities and jurisdictions involved, the complexity of the Company’s legal entity structure, the complexity of tax laws in the relevant jurisdictions and the impact of projections of income for future years to any calculations, the Company believes it is not practicable to estimate, within any reasonable range, the amount of additional taxes which may be payable upon the distribution of earnings. On December 25, 2017, a Belgian tax reform bill was signed into law. $ 2,268 Effective April 1, 2017, the Company adopted ASU 2016-09, “ $227 Effective April 1, 2018, the Tax Act subjects a U.S. parent to current tax on its “global intangible low-taxed income” (“GILTI”). The Company does not anticipate incurring a GILTI liability in fiscal year 2019, however, to the extent that expense is incurred under the GILTI provisions, the Company will treat it as a component of income tax expense in the period incurred. Effective April 1, 2018, the Company adopted ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)” and all related amendments, which provides revised guidance for revenue recognition. The standard was adopted by applying the modified retrospective method and all applicable deferred tax impacts were recorded as an adjustment to retained earnings on the date of adoption. The net deferred tax components as of March 31 consisted of the following: 2019 2018 Deferred tax liabilities: Book basis over tax basis of fixed assets $ (58,169 ) $ (44,717 ) Book basis over tax basis of intangible assets (128,273 ) (135,432 ) Interest rate swap (406 ) — Deferred financing costs (16 ) (297 ) Other (5,766 ) (6,370 ) Total deferred tax liabilities (192,630 ) (186,816 ) Deferred tax assets: Inventory reserves 2,165 925 Interest expense carryforwards 10,674 — Inventory capitalization 343 809 Allowance for doubtful accounts 201 242 Stock based compensation expense 1,307 1,305 Minimum pension liability 524 546 Loss carry forward amounts 35,771 25,110 Credit carry forward amounts 963 2,007 Interest rate swaps — 9,306 State basis over tax basis of fixed assets 1,554 667 Non-deductible accruals and other 8,491 10,148 Deferred compensation 234 699 Lease obligations 6,169 4,799 Gross deferred tax asset 68,396 56,563 Valuation allowance (31,702 ) (16,870 ) Net deferred tax asset 36,694 39,693 Net deferred tax liability $ (155,936 ) $ (147,123 ) As of March 31, 2019, Multi-Color had tax-effected federal, state, and foreign operating loss carryforwards of $0, $1,516, and $34,255 respectively. As of March 31, 2018, $1,922, and $22,174, respectively. $ 18,552 As of March 31, 2019 and 2018, Multi-Color had valuation allowances of $31,702 and $16,870, respectively. As of March 31, 2019 and 2018, $31,247 and $16,454, respectively, of the valuation allowances are related to certain deferred tax assets in foreign jurisdictions due to the uncertainty of the realization of future tax benefits from those assets. The increase in the valuation allowance during the year is primarily caused by adjustments to the opening balance sheet deferred tax balances associated with recording the Constantia acquisition. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences become deductible. Management considers the scheduled reversal of deferred tax liabilities and projected future taxable income in making this assessment. At each reporting date, the Company considers both negative and positive evidence that impacts the assessment of the realization of deferred tax assets. The benefits of tax positions are not recorded unless it is more likely than not the tax position would be sustained upon challenge by the appropriate tax authorities. Tax benefits that are more likely than not to be sustained are measured at the largest amount of benefit that is cumulatively greater than a 50% likelihood of being realized. As of March 31, 2019 and 2018, the Company had liabilities of $5,846 and $7,038, respectively, recorded for unrecognized tax benefits for U.S. federal, state and foreign tax jurisdictions. During the years ended March 31, 2019 and 2018, $1,672 $120, 31, 2019 and 2018 was $1,408 and $2,641, respectively. The liability for unrecognized tax benefits is classified in other noncurrent liabilities on the consolidated balance sheets for the portion of the liability where payment of cash is not anticipated within one year of the balance sheet date. During the year ended March 31, 2019, the Company released $5,251 of reserves, including interest and penalties, related to uncertain tax positions for which the statutes of limitations have lapsed or there was a reduction in the tax position related to a prior year. The Company believes that it is reasonably possible that $2,068 of unrecognized tax benefits as of March 31, 2019 could be released within the next 12 months due to lapse of statute of limitations and settlements of certain foreign and domestic income tax matters. The unrecognized tax benefits that, if recognized, would favorably impact the effective tax rate are $5,453. A summary of the activity for the Company’s unrecognized tax benefits as of March 31 is as follows: 2019 2018 Beginning balance $ 7,038 $ 5,665 Additions based on tax positions related to the current year 616 1,843 Additions of tax positions of prior years 1,870 833 Settlements (146 ) (1,358 ) Reductions of tax positions of prior years (233 ) (44 ) Lapse of applicable statutes of limitations (3,059 ) (345 ) Currency translation (240 ) 444 Ending balance $ 5,846 $ 7,038 The Company files income tax returns in the U.S. federal jurisdiction, various foreign jurisdictions and various state and local jurisdictions where the statutes of limitations generally range from three to four years. At March 31, 2019, the Company is no longer subject to U.S. federal examinations by tax authorities for years before fiscal 2016. The Company is no longer subject to state and local examinations by tax authorities for years before fiscal 2015. In foreign jurisdictions, the Company is no longer subject to examinations by tax authorities for years before fiscal 1999.

MAJOR CUSTOMERS

MAJOR CUSTOMERS	12 Months Ended
	Mar. 31, 2019
Risks and Uncertainties [Abstract]
MAJOR CUSTOMERS	(14) MAJOR CUSTOMERS During 2019, 2018 and 2017, sales to major customers (those exceeding 10% of the Company’s net revenues in one or more of the periods presented) approximated 10%, 14% and 17%, respectively, of the Company’s consolidated net revenues. All of these sales were made to The Procter & Gamble Company. In addition, accounts receivable balances from The Procter & Gamble Company approximated 2% and 3% of the Company’s total accounts receivable balance at March 31, 2019 and 2018, respectively. The loss or substantial reduction of the business of this major customer could have a material adverse impact on the Company’s results of operations and cash flows. As a result of a recent procurement savings initiative conducted by our major customer, this customer has diversified its supply of certain label products produced by the Company in North America. We have provided pricing concessions to retain volume but also expect volume from this customer will be reduced. These actions resulted in softer revenues for fiscal 2019 and are expected to continue throughout fiscal 2020. The Company believes that it remains a significant supplier of labels to this customer in North America and that the Company’s global footprint and the Company’s high quality and innovative products will provide the Company the opportunity to grow its relationship with this customer in new products and regions. We expect to offset these developments by continuing to focus on organic growth and internal improvement opportunities. We believe the Company’s operating margins will enhance over the longer term as we historically achieved through continued premiumization, innovation and efficiency gains. However, the loss or continued reduction of business of our major customer could have a material adverse impact on our results of operations and cash flow.

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE	12 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
EARNINGS PER COMMON SHARE	(15) EARNINGS PER COMMON SHARE The following is a reconciliation of the number of shares used in the basic EPS and diluted EPS computations: 2019 2018 2017 Per Share Per Share Per Share Shares Amount Shares Amount Shares Amount Basic EPS 20,468 $ (1.42 ) 18,421 $ 3.91 16,879 $ 3.61 Effect of dilutive securities — — 162 (0.04 ) 145 (0.03 ) Diluted EPS 20,468 $ (1.42 ) 18,583 $ 3.87 17,024 $ 3.58 The Company excluded 386, 94 and 172 shares in the fiscal years ended March 31, 2019, 2018 and 2017, respectively, from the computation of diluted EPS because these shares would have an anti-dilutive effect.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	(16) STOCK-BASED COMPENSATION The Company maintains incentive plans which authorize the issuance of stock-based compensation including stock options, restricted stock and restricted share units to officers, key employees and non-employee directors. New shares are issued upon exercise of stock options or vesting of restricted stock or restricted share units. As of March 31, 2019, 894 shares of common stock remained reserved for future issuance under the 2012 Stock Incentive Plan, 2003 Stock Incentive Plan, as amended, and 2006 Director Equity Compensation Plan. The Company measures compensation costs related to stock-based transactions at the grant date, based on the fair value of the award, and recognizes them as expense over the requisite service period. For the year ended March 31, 2019, the Company recorded pre-tax compensation expense for stock-based incentive awards of $2,498 which increased selling, general and administrative expenses by $1,685 and cost of revenues by $813 and had an associated tax benefit of $475. For the year ended March 31, 2018, the Company recorded pre-tax compensation expense for stock-based incentive awards of $3,456 which increased selling, general and administrative expenses by $2,489 and cost of revenues by $967 and had an associated tax benefit of $898. For the year ended March 31, 2017, the Company recorded pre-tax compensation expense for stock-based incentive awards of $3,042 which increased selling, general and administrative expenses by $2,064 and cost of revenues by $978 and had an associated tax benefit of $943. Stock Options Stock options granted under the plans enable the holder to purchase common stock at an exercise price not less than the market value on the date of grant and will expire not more than ten years after the date of grant. The applicable options vest ratably over a five year period. The Company calculates the value of each employee stock option, estimated on the grant date, using the Black-Scholes model and the following weighted average assumptions: 2019 2018 2017 Expected life (years) 5.6 5.7 5.8 Risk-free interest rate 2.8 % 1.8 % 1.2 % Expected volatility 29.5 % 32.4 % 38.9 % Dividend yield 0.3 % 0.3 % 0.3 % The Company estimated volatility based on the historical volatility of its common stock. The risk-free interest rate is based on the U.S. Treasury yield for a term consistent with the expected life of the options in effect at the time of the grant. The dividend yield assumption is based on the Company’s history and expectation of dividend payouts. The expected life of the options represents the weighted-average period the stock options are expected to remain outstanding and is based on review of historical exercise behavior of option grants with similar vesting periods. The Company uses an estimated forfeiture rate based on historical data. The forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. A summary of the changes in the options outstanding for years ended March 31, 2019, 2018 and 2017 is shown below: Weighted Weighted Average Aggregate Average Exercise Remaining Life Intrinsic Options Price (Years) Value Outstanding at March 31, 2016 600 $ 34.50 Granted 32 $ 61.62 Exercised (136 ) $ 24.52 $ 5,664 Forfeited (25 ) $ 41.66 Outstanding at March 31, 2017 471 $ 38.84 Granted 119 $ 85.38 Exercised (110 ) $ 26.60 $ 5,990 Forfeited (14 ) $ 57.10 Outstanding at March 31, 2018 466 $ 53.10 Granted 45 $ 70.77 Exercised (76 ) $ 27.80 $ 2,403 Forfeited (18 ) $ 64.86 Outstanding at March 31, 2019 417 $ 59.09 6.4 $ 2,693 Exercisable at March 31, 2019 203 $ 45.86 5.0 $ 2,498 Exercisable at March 31, 2018 186 $ 33.72 5.0 $ 6,024 As of March 31, 2019, the total compensation cost related to nonvested options not yet recognized and the weighted-average period over which it is expected to be recognized is $3,474 and 2.9 years, respectively. The weighted average grant-date fair value of options granted during the year ended March 31, 2019, 2018 and 2017 was $22.67, $27.98 and $22.72, respectively. Cash received from options exercised during the year ended March 31, 2019 was $1,556. The total grant-date fair value of options vested during the year ended March 31, 2019, 2018 and 2017 was $2,162, $1,800 and $2,062, respectively. Restricted Stock Restricted stock grants under the plans typically vest over a three to five year period. The cost of these awards is determined using the fair value of the Company’s common stock on the date of the grant and is recognized on a straight-line basis over the period the restrictions lapse. A summary of the changes in restricted shares for the year ended March 31, 2019, 2018 and 2017 is shown below: Weighted Average Restricted Grant Date Shares Fair Value Non-vested restricted shares at March 31, 2016 25 $ 55.99 Granted 8 $ 64.50 Vested (15 ) $ 51.67 Forfeited (1 ) $ 64.05 Non-vested restricted shares at March 31, 2017 17 $ 62.72 Granted 9 $ 85.17 Vested (10 ) $ 63.46 Forfeited (3 ) $ 72.47 Non-vested restricted shares at March 31, 2018 13 $ 76.17 Granted 19 $ 64.72 Vested (7 ) $ 72.88 Forfeited — $ — Non-vested restricted shares at March 31, 2019 25 $ 68.32 As of March 31, 2019, the total compensation cost related to non-vested restricted shares not yet recognized and the weighted-average period over which it is expected to be recognized was $1,204 and 2.0 years. The total grant-date fair value of restricted shares vested during the year ended March 31, 2019, 2018 and 2017 was $472, $665 and $720, respectively. Restricted Share Units Restricted share units (RSUs) granted under the plans vest over a three-year period, and the number of RSUs that will vest is based on the Company’s level of achievement of a certain performance target. Based on the extent to which the performance condition is met, it is possible for none of the RSUs to vest or for a range up to the maximum to vest. The cost of these awards is determined using the fair value of the Company’s common stock on the date of grant and is recognized over the requisite service period based on the Company’s estimate of the probable outcome of the performance condition. We evaluate our estimate quarterly, and the expense is adjusted for any change in our estimate of the probable outcome. A summary of the changes in restricted share units for the years ended March 31, 2019, 2018 and 2017 are shown below: Weighted Average Grant Date RSUs Fair Value Non-vested RSUs at March 31, 2016 42 $ 64.05 Granted 35 $ 61.19 Forfeited (18 ) $ 62.59 Non-vested RSUs at March 31, 2017 59 $ 62.80 Granted 19 $ 85.90 Vested (12 ) $ 64.05 Forfeited (30 ) $ 67.51 Non-vested RSUs at March 31, 2018 36 $ 70.73 Granted 46 $ 66.62 Vested (10 ) $ 61.19 Forfeited (12 ) $ 61.19 Non-vested RSUs at March 31, 2019 60 $ 71.09 As of March 31, 2019, the total compensation cost related to non-vested RSUs not yet recognized was $739 based upon the Company’s estimate of the probable outcome of the performance condition. The weighted-average period over which it is expected to be recognized was 2.2 years.

GEOGRAPHIC INFORMATION

GEOGRAPHIC INFORMATION	12 Months Ended
	Mar. 31, 2019
Text Block [Abstract]
GEOGRAPHIC INFORMATION	(17) GEOGRAPHIC INFORMATION During fiscal 2018, we acquired GEWA, TP Label, Constantia Labels and began producing labels from our start-up in Auckland, New Zealand. During fiscal 2017, we acquired Italstereo, I.L.A., Graphix and GIP. All of these acquisitions expanded the Company’s geographic presence. See Note 4 for further information regarding these acquisitions. The Company now manufactures labels in the North American, Latin American, EMEA (Europe, Middle East and Africa) and Asia Pacific regions. Net revenues, based on the geographic area from which the product is shipped, for the years ended March 31 and long-lived assets by geographic area as of March 31 are as follows: 2019 2018 2017 Net revenues: United States $ 660,275 $ 584,458 $ 511,551 Belgium 152,242 67,035 — Germany 132,973 62,184 — Other International 780,064 587,235 411,744 Total $ 1,725,554 $ 1,300,912 $ 923,295 2019 2018 Long-lived assets: United States $ 584,274 $ 649,413 Belgium (1) 408,171 (7,455 ) Germany 252,533 878,106 Other International 806,594 778,902 Total $ 2,051,572 $ 2,298,966 (1) We allocate goodwill to our foreign and domestic locations. In fiscal 2018, negative goodwill associated with the acquisition of Constantia Labels was allocated to our plant in Belgium, as the final goodwill allocation was not complete.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(18) COMMITMENTS AND CONTINGENCIES Operating Lease Agreements The Company has various equipment, office and facility operating leases. Leases expire on various dates through March 2032 and some of the leases contain clauses requiring escalating rent payments. Rent expense during 2019, 2018 and 2017 was $24,380, $17,953 and $12,767, respectively. The annual future minimum rental obligations as of March 31, 2019 are as follows: Fiscal 2020 $ 22,595 Fiscal 2021 19,569 Fiscal 2022 17,297 Fiscal 2023 13,168 Fiscal 2024 7,585 Thereafter 15,877 Total $ 96,091 Purchase Obligations The Company has entered into purchase agreements for various raw materials, uniforms, supplies, utilities, other services and property, plant and equipment. Total estimated purchase obligations are $36,414 at March 31, 2019. Litigation The Company is subject to various legal claims and contingencies that arise out of the normal course of business, including claims related to commercial transactions, product liability, health and safety, taxes, environmental matters, employee matters and other matters. Litigation is subject to numerous uncertainties and the outcome of individual claims and contingencies is not predictable. It is possible that some legal matters for which reserves have or have not been established could result in an unfavorable outcome for the Company and any such unfavorable outcome could be of a material nature or have a material adverse effect on our financial condition, results of operations and cash .

SUPPLEMENTAL CASH FLOW DISCLOSU

SUPPLEMENTAL CASH FLOW DISCLOSURES	12 Months Ended
	Mar. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Disclosures	(19) SUPPLEMENTAL CASH FLOW DISCLOSURES Supplemental disclosures with respect to cash flow information and non-cash investing and financing activities are as follows: 2019 2018 2017 Supplemental Disclosures of Cash Flow Information: Interest paid $ 81,613 $ 32,844 $ 23,672 Income taxes paid, net of refunds 28,514 30,305 21,143 Supplemental Disclosures of Non-Cash Activities: Additional minimum pension liability $ 37 $ (55 ) $ (282 ) Capital expenditures incurred but not yet paid 5,958 9,958 3,323 Capital lease obligations incurred 1,882 — 864 Change in derivative contract fair value - asset position (4,397 ) 10,298 — Change in derivative contract fair value - liability position 45,434 (50,336 ) 225 Business combinations accounted for as a purchase: Assets acquired (excluding cash) $ 16,233 $ 1,612,925 $ 45,328 Liabilities assumed (15,033 ) (335,648 ) (16,669 ) Liabilities for contingent / deferred payments — (13,713 ) 242 MCC common stock issued — (237,820 ) — Noncontrolling interest (1,200 ) (1,100 ) (62 ) Net cash paid $ — $ 1,024,644 $ 28,839

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	12 Months Ended
	Mar. 31, 2019
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	(20) ACCUMULATED OTHER COMPREHENSIVE LOSS The changes in the Company’s accumulated other comprehensive loss by component consisted of the following: Foreign Gains and (losses) currency on derivative Defined benefit items contracts pension items Total Balance at March 31, 2017 $ (85,593 ) $ — $ (202 ) $ (85,795 ) OCI before reclassifications (1) 91,928 (22,635 ) 3 69,296 Amounts reclassified from AOCI — (2,773 ) 31 (2,742 ) Net current period OCI 91,928 (25,408 ) 34 66,554 Balance at March 31, 2018 6,335 (25,408 ) (168 ) (19,241 ) OCI before reclassifications (2) (135,054 ) 33,894 (32 ) (101,192 ) Amounts reclassified from AOCI — (3,987 ) 4 (3,983 ) Net current period OCI (135,054 ) 29,907 (28 ) (105,175 ) ASU 2018-02 reclassifications of stranded tax effects (244 ) (1,506 ) — (1,750 ) Balance at March 31, 2019 $ (128,963 ) $ 2,993 $ (196 ) $ (126,166 ) (1) Net of tax of $9,063 (1 (2) Net of tax of $(11,351) and $11 for derivative contracts and defined benefit pension items, respectively. Reclassifications out of accumulated other comprehensive loss consisted of the following: 2019 2018 Gains and losses on cash flow hedges: Cross currency swaps (1) $ (5,226 ) $ (4,234 ) Interest rate swaps (1) (674 ) 101 Foreign exchange forward contracts (2) 588 — Tax 1,325 1,360 Net of tax (3,987 ) (2,773 ) Defined benefit pension items: Amortization of net actuarial losses (3) 6 7 Settlement and curtailments (3) — 44 Tax (2 ) (20 ) Net of tax 4 31 Total reclassifications, net of tax $ (3,983 ) $ (2,742 ) (1) Reclassified from AOCI into interest expense in the consolidated statements of operations. See Note 10. (2) Reclassified from AOCI into cost of revenues in the consolidated statements of operations. See Note 10. (3) Reclassified from AOCI into facility closure expenses in the consolidated statements of operations. These components are included in the computation of net periodic pension cost. See Note 12.

FACILITY CLOSURES

FACILITY CLOSURES	12 Months Ended
	Mar. 31, 2019
Restructuring and Related Activities [Abstract]
FACILITY CLOSURES	(21) FACILITY CLOSURES Cowansville, Canada During the three months ended March 31, 2019, the Company announced plans to close our manufacturing facility located in Cowansville, Canada. Production ceased at the facility as of March 31, 2019, and the closure is expected to be substantially completed during the first quarter of fiscal 2020. Below is a summary of the exit and disposal costs related to the closure of the Cowansville facility: Total costs Total costs incurred Cumulative costs incurred 2019 March 31, 2019 Severance and other termination benefits $ 150 $ 111 $ 111 Other associated costs — — — Below is a reconciliation of the beginning and ending liability balances related to the exit and disposal costs: Balance at Amounts Amounts Balance at Severance and other termination benefits $ — 111 (54 ) $ 57 As a result of the decision to close our Cowansville facility, the Company determined that it was more likely than not that certain fixed assets at the Cowansville facility would be sold or otherwise disposed of significantly before the end of their estimated useful lives. During fiscal 2019, non-cash impairment charges of $309 were recorded to adjust the carrying value of certain machinery and equipment to their estimated fair value, less costs to sell, which were determined based upon a quoted market price. In addition, the Company recorded a net gain on the sale of property, plant and equipment of $55 related to assets at the Cowansville facility and wrote-off $118 in inventory that will be disposed of as a result of the closure. These items were recorded in facility closure expenses in the consolidated statements of operations in fiscal 2019. The cumulative costs incurred in conjunction with the closure as of March 31, 2019 are $483, which were recorded in facility closure expenses in the consolidated statements of operations in fiscal 2019. Melbourne, Australia During the three months ended June 30, 2018, the Company announced plans to consolidate our manufacturing facility located in Melbourne, Australia into our existing facility in Notting Hill, Australia. The transition was substantially completed during the second quarter of fiscal 2019 except for restoring the facility to its original leased condition, which is expected to be completed during the first quarter of fiscal 2020. Below is a summary of the total contractual termination benefits and exit and disposal costs related to the closure of the Melbourne facility: Total costs Total costs incurred Cumulative costs incurred 2019 March 31, 2019 Severance and other termination benefits $ 170 $ 170 $ 170 Other associated costs 700 900 612 612 Other associated costs primarily consist of costs to dismantle, transport and reassemble manufacturing equipment that was moved from Melbourne to Notting Hill, costs to prepare the Notting Hill facility for installation of the new equipment and costs to restore the facility to its original leased condition. Below is a reconciliation of the beginning and ending liability balances related to the contractual termination benefits and exit and disposal costs: Balance at Amounts Amounts Balance at March Severance and other termination benefits $ — 170 (170 ) $ — Other associated costs $ — 612 (459 ) $ 153 The cumulative costs incurred in conjunction with the closure are $782, which were recorded in integration expenses within selling, general and administrative expenses in the consolidated statements of operations in fiscal 2019. Merignac, France During the three months ended September 30, 2017, the Company announced plans to consolidate our manufacturing facility located in Merignac, France into our existing facility in Libourne, France. The transition was substantially completed in the third quarter of fiscal 2018. Below is a summary of the total contractual termination benefits and exit and disposal costs related to the closure of the Merignac facility: Total costs expected to be Total costs incurred Cumulative costs incurred 2019 2018 March 31, 2019 Severance and other termination benefits $ 663 $ (40 ) $ 703 $ 663 Other associated costs 566 750 220 347 567 Other associated costs primarily consisted of costs to dismantle, transport and reassemble manufacturing equipment that was moved to other manufacturing facilities and ongoing costs related to the leased facility until expiration or early termination of the related lease agreement. Below is a reconciliation of the beginning and ending liability balances related to the contractual termination benefits and exit and disposal costs: Balance at Amounts Amounts Balance at Severance and other termination benefits $ 457 (40 ) (417 ) $ — Other associated costs $ — 220 (220 ) $ — As a result of the decision to close our Merignac facility, the Company determined that it was more likely than not that certain fixed assets at the Merignac facility would be sold or otherwise disposed of significantly before the end of their estimated useful lives. During fiscal 2018, non-cash impairment charges of $125 related to these assets were recorded to write off land and building improvements that will not be transferred to Libourne and will be abandoned. In addition, the Company recorded a net loss on the sale of property, plant and equipment of $48 and $42 related to assets in Merignac that were not transferred to Libourne and were sold or abandoned during fiscal 2019 and 2018, respectively. In fiscal 2018, the Company reversed $102 in accrued pension related to employees that were terminated in conjunction with the closure. These items were recorded in facility closure expenses in the consolidated statements of operations. The cumulative costs incurred in conjunction with the closure as of March 31, 2019 are $1,343, which were recorded in facility closure expenses in the consolidated statements of operations, $228 and $1,115 in fiscal 2019 and 2018, respectively. Dormans, France During the three months ended June 30, 2017, the Company announced plans to close our manufacturing facility located in Dormans, France. Production at the facility ceased during the first quarter of fiscal 2018, and closure activities were substantially completed during the fourth quarter of fiscal 2018. Below is a summary of the exit and disposal costs related to the closure of the Dormans facility: 2018 Severance and other termination benefits $ 106 Other associated costs 23 Other associated costs primarily consisted of costs to dismantle, transport and reassemble manufacturing equipment that was moved to other manufacturing facilities. During fiscal 2018, the Company recorded non-cash impairment charges of $25 to adjust the carrying value of the land and building held for sale at the Dormans facility to their estimated fair value, less costs to sell, which were determined based on a quoted market price. The land and building at the Dormans facility were sold during fiscal 2018. During fiscal 2018, the Company recorded a net loss on the disposal of property, plant and equipment of $59 related to assets in Dormans that were not transferred to other facilities and were sold or abandoned. In addition, the Company wrote-off $47 in raw materials that were not transferred to other facilities. These items were recorded in facility closure expenses in the consolidated statements of operations. The cumulative costs incurred in conjunction with the closure as of March 31, 2019 are $260, which were recorded in facility closure expenses in the consolidated statements of operations in fiscal 2018. Sonoma, California On January 19, 2016, the Company announced plans to consolidate our manufacturing facility located in Sonoma, California, into our existing facility in Napa, California. The transition was substantially completed in the third quarter of fiscal 2017. During fiscal 2017, the Company incurred the following exit and disposal costs related to the closure of the Sonoma facility, which were recorded in facility closure expenses in the consolidated statements of operations: 2017 Severance and other termination benefits $ 6 Other associated costs 91 Other associated costs primarily consisted of costs to dismantle, transport and reassemble manufacturing equipment that was moved from Sonoma to Napa. During fiscal 2017, the Company recorded a net gain on the sale of property, plant and equipment of $185 related to assets in Sonoma that were not transferred to Napa and were sold. In addition, the Company wrote-off $140 in property, plant and equipment that was not transferred to Napa and was abandoned in fiscal 2017. These items were recorded in facility closure expenses in the consolidated statements of operations. Glasgow, Scotland During the three months ended March 31, 2016, the Company began the process to consolidate our two manufacturing facilities located in Glasgow, Scotland into one facility. The transition was substantially completed in the fourth quarter of fiscal 2017. During fiscal 2017, the Company incurred the following exit and disposal costs related to the consolidation of the Glasgow facilities, which were recorded in facility closure expenses in the consolidated statements of operations: 2017 Severance and other termination benefits $ 100 Other associated costs 539 Other associated costs primarily consisted of costs to dismantle, transport and reassemble manufacturing equipment that was moved in order to consolidate our two manufacturing facilities located in Glasgow into one facility. During fiscal 2017, the Company recorded a net gain on the sale of property, plant and equipment of $377 related to assets that were not transferred from the closing Glasgow facility to other locations and were sold, which was recorded in facility closure expenses in the consolidated statements of operations. Greensboro, North Carolina On October 5, 2015, the Company announced plans to consolidate our manufacturing facility located in Greensboro, North Carolina into other North American facilities. The transition was substantially completed in the fourth quarter of fiscal 2016. During fiscal 2017, the Company incurred the following exit and disposal costs related to the closure of the Greensboro facility, which were recorded in facility closure expenses in the consolidated statements of operations: 2017 Severance and other termination benefits $ (22 ) Contract termination costs (66 ) Other associated costs 207 Other associated costs primarily consisted of costs to dismantle, transport and reassemble manufacturing equipment that was moved from the Greensboro facility to other North American facilities and costs to return the facility to its original leased condition. Dublin, Ireland During the three months ended December 31, 2015, the Company began the process to consolidate our manufacturing facility located in Dublin, Ireland into our existing facility in Drogheda, Ireland (near Dublin). The consolidation was substantially completed in the first quarter of fiscal 2017. During fiscal 2017, the Company incurred the following exit and disposal costs related to the closure of the Dublin facility, which were recorded in facility closure expenses in the consolidated statements of operations: 2017 Severance and other termination benefits $ 102 Contract termination costs 177 Other associated costs 76 Other associated costs primarily consisted of costs to dismantle, transport and reassemble manufacturing equipment that was moved from Dublin to Drogheda and costs to relocate employees. Norway, Michigan and Watertown, Wisconsin During fiscal 2015, the Company decided to close our manufacturing facilities located in Norway, Michigan and Watertown, Wisconsin. Due to available capacity, we transitioned the Norway and Watertown business to other North American facilities. During fiscal 2018 and 2017, the Company recorded settlement expense of $44 and $133, respectively, related to the defined benefit pension plan that covers eligible former union employees of the Norway plant who were hired prior to July 14, 1998. These costs were recorded in facility closure expenses in the consolidated statements of operations.

QUARTERLY DATA

QUARTERLY DATA	12 Months Ended
	Mar. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY DATA	(22) QUARTERLY DATA (UNAUDITED) Earnings per share amounts are computed independently each quarter. As a result, the sum of each quarter’s per share amount may not equal the total per share amount for the respective year. Quarter Fiscal 2019 First Second Third Fourth Net revenues $ 456,131 $ 434,913 $ 397,004 $ 437,506 Gross profit 88,010 86,785 65,381 81,744 Net income (loss) 18,092 23,805 11,475 (82,039 ) Net income (loss) attributable to Multi-Color Corporation 18,139 23,755 11,286 (82,221 ) Basic earnings (loss) per share $ 0.89 $ 1.16 $ 0.55 $ (4.01 ) Diluted earnings (loss) per share 0.88 1.16 0.55 (4.01 ) Fiscal 2019 results include $711 ($507 Quarter First Second Third Fourth Facility closure expenses $ 27 $ 114 $ 60 $ 510 Quarter Fiscal 2018 First Second Third Fourth Net revenues $ 242,440 $ 256,034 $ 352,699 $ 449,739 Gross profit 49,457 51,774 57,302 88,067 Net income 14,142 15,190 20,511 22,054 Net income attributable to Multi-Color Corporation 14,106 15,190 20,532 22,123 Basic earnings per share $ 0.83 $ 0.89 $ 1.06 $ 1.08 Diluted earnings per share 0.82 0.88 1.06 1.08 Fiscal 2018 results include $1,419 ($945 after-tax) in costs related to the closure of our manufacturing facilities located in Merignac and Dormans, France and Norway, Michigan. These expenses were recorded as follows: Quarter First Second Third Fourth Facility closure expenses $ 34 $ 95 $ 761 $ 529

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	(23) SUBSEQUENT EVENTS On February 24, 2019, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with W/S Packaging Holdings, Inc., a Delaware corporation (“Parent”), and Monarch Merger Corporation, an Ohio corporation and a wholly-owned subsidiary of Parent (“Sub”). The Merger Agreement provides for the merger of Sub with and into the Company, on the terms and subject to the conditions set forth in the Merger Agreement (the “Merger”), with the Company continuing as the surviving corporation in the Merger. As a result of the Merger, the Company will become a wholly-owned subsidiary of Parent. On April 5, 2019, the Company filed with the Securities and Exchange Commission a definitive proxy statement (the “Proxy Statement”) with respect to the Company’s special meeting of the shareholders held on May 16, 2019 in connection with the Merger. At the special meeting of the shareholders, the Company received approval of the proposal to adopt the Merger Agreement and approval of the proposal to approve, on a non-binding advisory basis, the compensation that may be paid or become payable to the Company’s named executive officers that is based on or otherwise relates to the Merger. On April 29, 2019, the Company was served with a complaint in an action captioned Eric Sabatini, Individually And On Behalf of All Others Similarly Situated, and Derivatively On Behalf of Multi-Color Corporation v. Nigel A. Vinecombe, Michael J. Henry, Vadis A. Rodato, Alex Baumgartner, Ari J. Benacerraf, Robert R. Buck, Charles B. Connolly, Robert W. Kuhn, Ronald Lienau and Multi-Color Corporation (the “Sabatini Complaint”) relating to the Merger Agreement and the Proxy Statement. The Sabatini Complaint was filed in the Hamilton County Court of Common Pleas in the State of Ohio and alleges, among other things, that the individual defendants breached their fiduciary duties to Company shareholders by failing to secure adequate merger consideration and failing to disclose material information in the Proxy Statement. The lawsuit asserts claims on behalf of a putative class of Company shareholders as well as derivatively on behalf of the Company. Among other remedies, the Sabatini Complaint seeks to enjoin the consummation of the Merger (or alternatively, rescission of the Merger in the event the defendants are able to consummate it), as well as damages, costs and attorneys’ and experts’ fees.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation References to 2019, 2018 and 2017 are for the fiscal years ended March 31, 2019, 2018 and 2017, respectively. The consolidated financial statements included herein have been prepared in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) and include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated. Certain prior year balances have been reclassified to conform to current year classifications. As of March 31, 2019, the Company’s operations were conducted through the Consumer Product Goods, Wine & Spirits and Food & Beverage operating segments, which are aggregated into one reportable segment in accordance with the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 280, “Segment Reporting.” The metrics used by management to assess the performance of the Company’s operating segments include revenue trends, gross profit margin and operating margin. The Company’s operating segments have historically had similar economic characteristics and are expected to have similar economic characteristics and long-term financial performance in future periods.
Use of Estimates in Financial Statements	Use of Estimates in Financial Statements In preparing financial statements in conformity with U.S. GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Business Combinations	Business Combinations The Company allocates the purchase price of its acquisitions to the assets acquired and liabilities assumed based upon their respective fair values at the acquisition date. The Company utilizes management estimates and an independent third-party valuation firm to assist in determining these fair values. The excess of the acquisition price over the estimated fair value of the net assets is recorded as goodwill. Goodwill is adjusted for any changes to acquisition date fair value amounts made within the measurement period. Acquisition-related transaction costs are recognized separately from the business combination and expensed as incurred.
Revenue Recognition	Revenue Recognition On April 1, 2018, we adopted Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers (Topic 606)” and all related amendments, which provides revised guidance for revenue recognition. The standard’s core principle is that an entity should recognize the revenue for transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. The standard defines a five-step process to recognize revenue and requires more judgment and estimates within the revenue recognition process than required under previous U.S. GAAP, including identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price, and allocating the transaction price to each separate performance obligation. See Note 3 for discussion of our accounting policies under the revised guidance.
Cost of Revenues	Cost of Revenues Cost of revenues primarily consists of direct materials and supplies consumed in the manufacture of product, as well as manufacturing labor, depreciation expense and direct overhead expense necessary to acquire and convert the purchased materials and supplies into finished product. Cost of revenues also includes inbound freight costs and costs to distribute products to customers.
Selling, General and Administrative Expenses	Selling, General and Administrative Expenses Selling, general and administrative expenses (SG&A) primarily consist of sales and marketing costs, corporate and divisional administrative and other costs and depreciation and amortization expense related to non-manufacturing assets. Advertising costs are charged to expense as incurred and were minimal in 2019, 2018 and 2017.
Research and Development Costs	Research and Development Costs Our product development group focuses on research and development, product commercialization and technical service support. The group includes chemical, packaging and field engineers who are responsible for developing and commercializing innovative label and application solutions. Technical service personnel also assist customers and manufacturers in improving container and label performance. The services provided by this group differentiate us from many of our competitors and drive our selection for the most challenging projects. Research and development costs are charged to expense as incurred and were $8,065, $5,834 and $5,274 in 2019, 2018 and 2017, respectively.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company records all highly liquid short-term investments with maturities of three months or less as cash equivalents. At March 31, 2019 and 2018, the Company had cash in foreign bank accounts of $56,914 and $66,061, respectively. Outstanding checks of $15,272 and $2,280 were included in accounts payable as of March 31, 2019 and 2018, respectively.
Accounts Receivable	Accounts Receivable Our customers are primarily major consumer product, food & beverage, wine & spirits and container companies. Accounts receivable consist of amounts due from customers in connection with our normal business activities and are carried at sales value less allowance for doubtful accounts. The allowance for doubtful accounts is established to reflect the expected losses of accounts receivable based on past collection history, age, account payment status compared to invoice payment terms and specific individual risks identified. The delinquency of a receivable account is determined based on these factors. The Company does not accrue interest on aged accounts receivable.
Supply Chain Financing and Factoring	Supply Chain Financing and Factoring The Company has entered into supply chain financing agreements with certain customers and factoring arrangements with certain banks. The receivables for the agreements are sold without recourse to the customers’ banks and are accounted for as sales of accounts receivable. Losses on the sale of these receivables are included in selling, general and administrative expenses in the consolidated statements of operations, and losses of $1,964, $1,325 and $561 were recorded during 2019, 2018 and 2017, respectively.
Inventories	Inventories Inventories are valued at the lower of cost or net realizable value and substantially all are maintained using the FIFO (first-in, first-out) or specific identification method. Excess and obsolete inventory allowances are generally established based on inventory age.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are stated at cost, net of accumulated depreciation. Depreciation expense, which includes the amortization of assets recorded under capital leases, is calculated using the straight-line method over the estimated useful lives of the assets, or the remaining terms of the leases, as follows: Buildings 20-39 years Building improvements 15 years Machinery and equipment 3-15 years Computers 3-5 years Furniture and fixtures 5-10 years
Goodwill and Other Acquired Intangible Assets	Goodwill and Other Acquired Intangible Assets Impairment reviews comparing fair value to carrying value are highly judgmental and involve the use of significant estimates and assumptions, which determine whether there is potential impairment and the amount of any impairment charge recorded. Fair value assessments involve estimates of discounted cash flows that are dependent upon discount rates and long-term assumptions regarding future sales and margin trends, market conditions, cash flow and multiples of revenue and earnings before interest, taxes, depreciation and amortization (“EBITDA”). Actual results may differ from these estimates. Fair value measurements used in the impairment reviews of goodwill and intangible assets are Level 3 measurements. See further information about our policy for fair value measurements within this section below. See further information regarding our impairment tests in Note 8. Goodwill. Goodwill has been assigned to reporting units for purposes of impairment testing. The reporting units are the Company’s divisions. The Company can evaluate qualitative factors to determine if it is more likely than not that the fair value of a reporting unit is less than the carrying value and whether it is necessary to perform the quantitative goodwill impairment test. The impairment test compares the fair value of the reporting unit to the carrying value. The market and income approaches were weighted 25% and 75%, respectively, based on judgement of the comparability of recent transactions and the risks inherent in estimating future cash flows. Intangible Assets.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets We review long-lived assets for impairment when events or changes in circumstances indicate that assets might be impaired and the related carrying amounts may not be recoverable. Changes in market conditions and/or losses of a production line could have a material impact on the consolidated statements of operations. The determination of whether impairment exists involves various estimates and assumptions, including the determination of the undiscounted cash flows estimated to be generated by the assets involved in the review. The cash flow estimates are based upon our historical experience, adjusted to reflect estimated future market and operating conditions. Measurement of an impairment loss requires a determination of fair value. We base our estimates of fair values on quoted market prices when available, independent appraisals as appropriate and industry trends or other market knowledge. Tests are performed over asset groups at the lowest level of identifiable cash flows.
Income Taxes	Income Taxes The Company is subject to income taxes in the United States and numerous foreign jurisdictions. Income taxes are recorded based on the current year amounts payable or refundable. Deferred income taxes are recognized at the enacted tax rates for the expected future tax consequences related to temporary differences between amounts reported for income tax purposes and financial reporting purposes as well as any tax attributes. Deferred income taxes are not provided for the undistributed earnings of subsidiaries operating outside of the U.S. that have been permanently reinvested in foreign operations. We regularly review our deferred income tax balances for each jurisdiction to estimate whether these deferred income tax balances are more likely than not to be realized based on the information currently available. Projected future taxable income is based on forecasted results and assumptions as to the jurisdiction in which the income will be earned. The timing of reversals of any existing temporary differences is based on our methods of accounting for income taxes and current tax legislation. Unless the deferred tax balances are more likely than not to be realized, a valuation allowance is established to reduce the carrying values of any deferred tax balances until circumstances indicate that realization becomes more likely than not. The Company establishes reserves for income tax related uncertainties based on estimates of whether it is more likely than not that the tax uncertainty would be sustained upon challenge by the appropriate tax authorities. Provisions for and changes to these reserves and any related net interest and penalties are included in income tax expense in the consolidated statements of operations. Significant judgment is required when evaluating our tax provisions and determining our provision for income taxes. We regularly review our tax positions and we adjust the reserves as circumstances change.
Earnings per Common Share	Earnings per Common Share Basic earnings per common share (EPS) is computed by dividing net income (loss) attributable to Multi-Color Corporation by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income (loss) attributable to Multi-Color Corporation by the sum of the weighted average number of common shares outstanding during the period plus, if dilutive, potential common shares outstanding during the period. Potential common shares outstanding during the period consist of restricted shares and the incremental common shares issuable upon the exercise of stock options and are reflected in diluted EPS by application of the treasury stock method.
Derivative Financial Instruments	Derivative Financial Instruments The Company accounts for derivative financial instruments by recognizing derivative instruments as either assets or liabilities in the consolidated balance sheets at fair value and recognizing the resulting gains or losses as adjustments to the consolidated statements of operations or accumulated other comprehensive income (loss). The Company does not hold or issue derivative financial instruments for trading or speculative purposes. For derivative instruments that hedge the exposure to variability in expected future cash flows that are designated and qualify as cash flow hedges, the gain or loss on the derivative instrument is reported as a component of AOCI in stockholders’ equity and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. To receive hedge accounting treatment, cash flow hedges must be highly effective in offsetting changes to expected future cash flows on hedged transactions. For derivative instruments that hedge the exposure to changes in the fair value of an asset or a liability and that are designated and qualify as fair value hedges, both the net gain or loss on the derivative instrument as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in earnings in the current period. For derivative instruments that hedge the exposure to changes in foreign currency exchange rates used for translation of the net investment in a foreign operation and that are designated as a net investment hedge, the net gain or loss on the derivative instrument is reported in AOCI as part of the foreign currency translation adjustment. Derivatives that do not qualify as hedges are adjusted to fair value through earnings in the current period.
Fair Value Measurements	Fair Value Measurements The carrying value of financial instruments approximates fair value. The Company defines fair value as the price that would be received to sell an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date. To increase consistency and comparability in fair value measurements, the Company uses a three-level hierarchy that prioritizes the use of observable inputs. The three levels are: Level 1 – Quoted market prices in active markets for identical assets and liabilities Level 2 – Observable inputs other than quoted market prices in active markets for identical assets and liabilities Level 3 – Unobservable inputs The determination of where an asset or liability falls in the hierarchy requires significant judgment. Fair value measurements of nonfinancial assets and nonfinancial liabilities are primarily used in goodwill, other intangible assets and long-lived assets impairment analyses, the valuation of acquired intangibles and in the valuation of assets held for sale. The Company tests goodwill for impairment annually, as of the last day of January of each fiscal year. Impairment is also tested when events or changes in circumstances indicate that the assets’ carrying values may be greater than the fair values. Goodwill and intangible assets are typically valued using Level 3 inputs.
Foreign Exchange	Foreign Exchange The functional currency of each of the Company’s subsidiaries is generally the currency of the country in which the subsidiary operates or the U.S. Dollar. Assets and liabilities of foreign operations are translated using period end exchange rates, and revenues and expenses are translated using average exchange rates during each period. Translation (gains) and losses are reported in accumulated other comprehensive loss as a component of stockholders’ equity and were $136,726, $(93,892) and $25,254 during 2019, 2018 and 2017, respectively. Transaction gains and (losses) are reported in other income and expense in the consolidated statements of operations and were $149, $3,899 and $(533) during 2019, 2018 and 2017, respectively.
New Accounting Pronouncements	New Accounting Pronouncements On April 1, 2018, we adopted ASU 2014-09, “Revenue from Contracts with Customers (Topic 606)” and all related amendments, which provides revised guidance for revenue recognition. We adopted this guidance using the modified retrospective transition method, which means that periods beginning in fiscal 2019 are reported under this guidance while prior periods continue to be reported under previous guidance. See Note 3. In February 2018, the FASB issued ASU 2018-02, “Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (Topic 220),” which permits the reclassification of stranded tax effects resulting from the Tax Cuts and Jobs Act (the “Tax Act”) from accumulated other comprehensive income (AOCI) to retained earnings. This new guidance is effective for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years, which for the Company is the fiscal year beginning April 1, 2019. Early adoption is permitted, and the update must be applied either at the beginning of the period of adoption or retrospectively to each period in which the effects of the Tax Act related to items remaining in AOCI are recognized. The Company elected to early adopt this update in the second quarter of fiscal 2019. As part of this adoption, the Company elected to reclassify $1,750 of stranded income tax effects of the Tax Act from AOCI to retained earnings at the beginning of the second quarter of fiscal 2019. In January 2017, the FASB issued ASU 2017-04, “Intangibles-Goodwill and Other,” which simplifies the accounting for goodwill impairment. This update removes step 2 of the goodwill impairment test, which requires a hypothetical purchase price allocation. Goodwill impairment will now be the amount by which a reporting unit’s carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. This update is effective for any annual or interim goodwill impairment tests in fiscal years beginning after December 15, 2019, which for the Company is any annual or interim goodwill impairment tests performed after April 1, 2020. Early adoption is permitted for any impairment tests performed after January 1, 2017. The Company elected to early adopt this update in the fourth quarter of fiscal 2019. Under the new guidance, the Company recognized goodwill impairment charges of $99,155 during the fourth quarter of fiscal 2019. See Note 8. In January 2017, the FASB issued ASU 2017-01, “Business Combinations,” which revises the definition of a business. The FASB’s new framework assists entities in evaluating whether a set (integrated set of assets and activities) should be accounted for as an acquisition of a business or a group of assets. The framework adds an initial screen to determine if substantially all of the fair value of the gross assets acquired is concentrated in a single asset or group of similar assets. If that screen is met, the set is not a business. This update was effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, which for the Company was the fiscal year beginning April 1, 2018. The Company adopted this update effective April 1, 2018, and its adoption did not have an impact on the Company’s consolidated financial statements. In August 2016, the FASB issued ASU 2016-15, “Classification of Certain Cash Receipts and Cash Payments,” which addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The specific issues addressed include debt prepayment or debt extinguishment costs, contingent consideration payments made after a business combination and separately identifiable cash flows and application of the predominance principle. This update was effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, which for the Company was the fiscal year beginning April 1, 2018. The Company adopted this update effective April 1, 2018, and its adoption did not have an impact on the Company’s consolidated financial statements. In February 2016, the FASB issued ASU 2016-02, “Leases,” which requires that lessees recognize almost all leases on the balance sheet as right-of-use assets and lease liabilities. For income statement purposes, leases will be classified as either finance leases or operating leases. This update is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years, which for the Company is the fiscal year beginning April 1, 2019. We will adopt the standard using the modified retrospective method which will be applied to leases that exist or are entered into on or after April 1, 2019. As a result, we will not adjust our comparative period financial information or make the new required lease disclosures for periods before the effective date. The Company will elect to utilize the package of practical expedients that allows entities to 1) not reassess whether any expired or existing contracts are or contain leases, 2) retain the existing classification of lease contracts as of the date of adoption, and 3) not reassess initial direct costs for any existing leases. The Company is in the final stages of evaluating its existing lease portfolio and is continuing to assess and quantify the amount of right-of-use assets and lease liabilities that will be included on its balance sheet as of April 1, 2019, with an estimated amount of $125,000. The Company is in the process of implementing a new lease accounting and administration software solution to manage and account for leases under the new guidance and is updating certain of its business processes and internal controls to meet the reporting and disclosure requirements of the new standard. We believe that the new standard will have a material impact on our consolidated balance sheet due to the recognition of right-of-use assets and liabilities for our operating leases, but it is not expected to have a material impact on our statements of operations or cash flows. The ASU will also require disclosures to allow financial statement users to better understand the amount, timing and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative requirements, providing additional information about the amounts recorded in the financial statements. No other new accounting pronouncement issued or effective during the fiscal year had or is expected to have a material impact on the consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Property, Plant and Equipment, Estimated Useful Lives	Depreciation expense, which includes the amortization of assets recorded under capital leases, is calculated using the straight-line method over the estimated useful lives of the assets, or the remaining terms of the leases, as follows: Buildings Building improvements 20-39 years 15 years Machinery and equipment 3-15 years Computers 3-5 years Furniture and fixtures 5-10 years

REVENUE RECOGNITION (Tables)

REVENUE RECOGNITION (Tables)	12 Months Ended
	Mar. 31, 2019
Summary of Condensed Consolidated Statement of Income and Condensed Consolidated Balance sheet as If ASU 2014-09 Has Not Been Adopted and Adjustment Required Upon Adoption of ASU 2014-09	The following table summarizes the March 31, 2019 consolidated statements of operations and consolidated balance sheet as if ASU 2014-09 had not been adopted and the adjustment required upon adoption of ASU 2014-09. Fiscal Year ended March 31, 2019 As Reported Adjustments Previous Standard Condensed Consolidated Statement of Income: Net revenues $ 1,725,554 $ 3,349 $ 1,728,903 Cost of revenues 1,403,634 2,713 1,406,347 Gross profit 321,920 636 322,556 Selling, general and administrative expenses 160,710 67 160,777 Operating income 61,344 569 61,913 Income tax benefit 12,332 206 12,538 Net income (loss) (28,667 ) 363 (28,304 ) As of March 31, 2019 As Reported Adjustments Previous Standard Condensed Consolidated Balance Sheet: Assets: Accounts receivable, net $ 300,945 $ (169 ) $ 300,776 Inventories, net 144,235 15,494 159,729 Other current assets 40,769 (18,230 ) 22,539 Liabilities and Stockholders’ Equity: Accrued expenses and other liabilities $ 94,739 $ 347 $ 95,086 Deferred income tax liabilities 160,017 (919 ) 159,098 Accumulated other comprehensive loss (126,166 ) 5 (126,161 ) Retained earnings 355,973 (2,338 ) 353,635
Summary of Net Contract Assets and Liabilities	Balance sheet location March 31, 2019 April 1, 2018 Contract assets Other current assets $ 29,143 $ 31,001 Contract liabilities Accrued expenses and other liabilities (10,654 ) (11,750 ) Net contract assets and liabilities $ 18,489 $ 19,251
Summary of Net Revenues Disaggregated by Region and Timing of Revenue Recognition	The following table presents our net revenues disaggregated by region and timing of revenue recognition for the fiscal year ended March 31, 2019. Fiscal Year ended March 31, 2019 Point-in-time Over-time North America $ 550,851 $ 224,380 Europe 672,349 3,970 Asia Pacific and Africa 246,657 2,684 South America 24,663 — Total $ 1,494,520 $ 231,034
Accounting Standards Update 2014-09
Summary of Condensed Consolidated Statement of Income and Condensed Consolidated Balance sheet as If ASU 2014-09 Has Not Been Adopted and Adjustment Required Upon Adoption of ASU 2014-09	Adjustments due to ASU 2014-09 were as follows: Balance at March 31, 2018 Adjustments Balance at April 1, 2018 Assets: Accounts receivable, net $ 306,542 $ 253 $ 306,795 Inventories, net 167,950 (18,286 ) 149,664 Other current assets 17,468 21,657 39,125 Liabilities and Stockholders’ Equity: Accrued expenses and other liabilities $ 114,022 $ (215 ) $ 113,807 Deferred income tax liabilities 149,950 1,125 151,075 Accumulated other comprehensive loss (19,241 ) 13 (19,228 ) Retained earnings 384,671 2,701 387,372

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	12 Months Ended
	Mar. 31, 2019
Purchase Price Allocation	Based on fair value estimates, the purchase price for Constantia Labels has been allocated to individual assets acquired and liabilities assumed as follows: Constantia Labels Assets Acquired Net cash acquired $ 11,234 Accounts receivable 117,248 Inventories 82,472 Property, plant and equipment 250,479 Intangible assets 432,400 Goodwill 673,561 Other assets 13,747 Total assets acquired 1,581,141 Liabilities Assumed: Accounts payable 93,812 Accrued income taxes payable 4,401 Accrued expenses and other liabilities 41,378 Deferred tax liabilities 139,847 Total liabilities assumed 279,438 Net assets acquired 1,301,703 Noncontrolling interests (2,300 ) Net assets acquired attributable to Multi-Color Corporation $ 1,299,403
Fair Value of Identifiable Intangible Assets Acquired and Estimated Useful Lives	The fair value of identifiable intangible assets acquired and their estimated useful lives are as follows: Constantia Labels Fair Value Useful Lives Customer relationships $ 407,300 19 years Technology 20,700 4 years Trade name 4,400 4 years Total identifiable intangible assets $ 432,400
Schedule of Pro Forma Information	The following table provides the unaudited pro forma results of operations for the year ended March 31, 2018 and 2017 as if Constantia Labels had been acquired as of the beginning of fiscal year 2017. However, pro forma results do not include any anticipated synergies from the combination of the companies, and accordingly, are not necessarily indicative of the results that would have occurred if the acquisition had occurred on the date indicated or that may result in the future. 2018 2017 Net revenues $ 1,718,924 $ 1,588,090 Net income attributable to Multi-Color 87,147 78,768 Diluted earnings per share 4.24 3.86
Reconciliation of Actual Net Revenues and Net Income Attributable to Multi-Color Corporation to Pro Forma Net Revenues and Net Income	The following is a reconciliation of actual net revenues and net income attributable to Multi-Color Corporation to unaudited pro forma net revenues and net income: 2018 2017 Net revenues Net income attributable to Multi-Color Net revenues Net income Multi-Color Corporation actual results $ 1,300,912 $ 71,951 $ 923,295 $ 60,996 Constantia Labels actual results (1) 418,012 23,426 664,795 52,109 Pro forma adjustments — (8,230 ) — (34,337 ) Pro forma results $ 1,718,924 $ 87,147 $ 1,588,090 $ 78,768 (1) Constantia Labels actual results include the seven months pre-acquisition
Pro Forma Adjustments	The following table identifies the unaudited pro forma adjustments: 2018 2017 Constantia Labels financing costs $ 9,689 $ 15,524 Acquisition transaction costs 16,220 18 Incremental depreciation and amortization costs (8,468 ) (14,667 ) Incremental interest costs (29,368 ) (50,639 ) Tax effect of adjustments 3,697 15,427 Pro forma adjustments $ (8,230 ) $ (34,337 )
Constantia Labels
Purchase Price	The purchase price for Constantia Labels consisted of the following: Cash from proceeds of borrowings $ 1,048,656 MCC common stock issued 237,820 Deferred payments 3,901 Contingent consideration 9,026 Purchase price, before cash acquired 1,299,403 Net cash acquired (11,234 ) Total purchase price $ 1,288,169

ACCOUNTS RECEIVABLE ALLOWANCE (

ACCOUNTS RECEIVABLE ALLOWANCE (Tables)	12 Months Ended
	Mar. 31, 2019
Receivables [Abstract]
Summary of Activity in Allowance for Doubtful Accounts	The following table summarizes the activity in the allowance for doubtful accounts: 2019 2018 2017 Balance at beginning of year $ 2,704 $ 2,273 $ 2,497 Provision 312 319 234 Accounts written-off (281 ) (62 ) (384 ) Foreign exchange (137 ) 174 (74 ) Balance at end of year $ 2,598 $ 2,704 $ 2,273

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Mar. 31, 2019
Inventory Disclosure [Abstract]
Schedule of Inventories	The Company’s inventories as of March 31 consisted of the following: 2019 2018 Finished goods $ 60,493 $ 80,845 Work-in-process 21,010 21,156 Raw materials 62,732 65,949 Total inventories, net $ 144,235 $ 167,950

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	The Company’s property, plant and equipment as of March 31 consisted of the following: 2019 2018 Land $ 19,095 $ 13,766 Buildings, building improvements and leasehold improvements 123,517 114,790 Machinery and equipment 603,882 535,142 Furniture, fixtures, computer equipment and software 42,049 50,779 Construction in progress 24,313 31,505 Property, plant and equipment, gross 812,856 745,982 Accumulated depreciation (284,779 ) (235,980 ) Property, plant and equipment, net $ 528,077 $ 510,002

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	12 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	The changes in the Company’s goodwill consisted of the following: 2019 2018 Balance at beginning of year Goodwill, gross $ 1,210,179 $ 424,941 Accumulated impairment losses (13,545 ) (12,391 ) Goodwill, net 1,196,634 412,550 Activity during the year Acquisitions — 721,874 Adjustments to prior year acquisitions (34,478 ) (359 ) Currency translation (84,457 ) 63,096 Impairment (99,155 ) — Sale of Southeast Asian durables business — (527 ) Balance at end of year Goodwill, gross 1,089,010 1,210,179 Accumulated impairment losses (110,466 ) (13,545 ) Goodwill, net $ 978,544 $ 1,196,634
Intangible Assets	The Company’s intangible assets as of March 31 consisted of the following: 2019 2018 Gross Carrying Accumulated Net Gross Carrying Accumulated Net Carrying Customer relationships $ 641,385 $ (119,821 ) $ 521,564 $ 648,273 $ (87,560 ) $ 560,713 Technologies 21,540 (8,512 ) 13,028 21,721 (3,586 ) 18,135 Trademarks and trade names 4,372 (1,635 ) 2,737 99 (66 ) 33 Non-compete 3,824 (2,957 ) 867 3,880 (2,528 ) 1,352 Total $ 671,121 $ (132,925 ) $ 538,196 $ 673,973 $ (93,740 ) $ 580,233
Estimated Useful Lives for Each Intangible Asset Class	The estimated useful lives for each intangible asset class are as follows: Customer relationships 9 to 21 years Technologies 1 to 8 years Trademarks and trade names 1 to 4 years Non-compete 2 to 7 years
Annual Estimated Amortization Expense for Future Years	The annual estimated amortization expense for future years is as follows: Fiscal 2020 $ 42,079 Fiscal 2021 41,635 Fiscal 2022 40,326 Fiscal 2023 37,300 Fiscal 2024 34,183 Thereafter 342,673 Total $ 538,196

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Components of Debt	The components of the Company’s debt as of March 31 consisted of the following: 2019 2018 Unamortized Debt Less Unamortized Debt Less Debt Issuance Unamortized Debt Issuance Unamortized Principal Costs Debt Issuance Costs Principal Costs Debt Issuance Costs 6.125% Senior Notes (1) $ 250,000 $ (2,473 ) $ 247,527 $ 250,000 $ (3,148 ) $ 246,852 4.875% Senior Notes (1) 600,000 (8,420 ) 591,580 600,000 (9,699 ) 590,301 Credit Agreement Term Loan A Facility (2) 135,625 (3,125 ) 132,500 148,125 (3,996 ) 144,129 Term Loan B Facility (3) 493,750 (5,165 ) 488,585 498,750 (6,280 ) 492,470 U.S. Revolving Credit Facility (4) (5) — — — 56,945 (5,442 ) 51,503 Australian Revolving Sub-Facility (4) 35,977 (473 ) 35,504 33,033 (605 ) 32,428 Capital leases 36,255 — 36,255 36,288 — 36,288 Other subsidiary debt 5,402 — 5,402 4,714 — 4,714 Total debt 1,557,009 (19,656 ) 1,537,353 1,627,855 (29,170 ) 1,598,685 Less current portion of debt (23,059 ) — (23,059 ) (20,864 ) — (20,864 ) Total long-term debt $ 1,533,950 $ (19,656 ) $ 1,514,294 $ 1,606,991 $ (29,170 ) $ 1,577,821 (1) The 6.125% Senior Notes are due on December 1, 2022. The 4.875% Senior Notes are due on November 1, 2025. (2) The Company is required to make mandatory principal payments on the outstanding borrowings under the Term Loan A Facility. The principal payments are due on the last day of March, June, September and December of each year, commencing on March 31, 2018 through the maturity date of October 31, 2022. (3) The Company is required to make mandatory principal payments on the outstanding borrowings under the Term Loan B Facility. The principal payments are due on the last day of March, June, September and December of each year, commencing on March 31, 2018 through the maturity date of October 31, 2024. (4) Borrowings under the U.S. Revolving Credit Facility and Australian Revolving Sub-Facility mature on October 31, 2022. (5) Unamortized debt issuance costs related to the U.S. Revolving Credit Facility were reclassified to prepaid expenses and other long-term assets in the consolidated balance sheet as of March 31, 2019, as there are no borrowings outstanding on the U.S. Revolving Credit Facility as of March 31, 2019.
Schedule of Future Annual Principal Payments	The following is a schedule of future annual principal payments as of March 31, 2019: Debt Capital Leases Total Fiscal 2020 $ 18,509 $ 4,550 $ 23,059 Fiscal 2021 17,331 3,999 21,330 Fiscal 2022 22,005 3,107 25,112 Fiscal 2023 389,158 2,925 392,083 Fiscal 2024 5,000 2,635 7,635 Thereafter 1,068,751 19,039 1,087,790 Total $ 1,520,754 $ 36,255 $ 1,557,009
Schedule of Weighted Average Interest Rates	The weighted average interest rates on the Company’s borrowings are as follows: March 31, 2019 March 31, 2018 Term Loan A Facility 4.50 % 4.13 % Term Loan B Facility 4.50 % 4.13 % U.S. Revolving Credit Facility — 4.42 % Australian Revolving Sub-Facility 3.85 % 4.13 %
Net Minimum Payments on Capitalized Leases	The present value of the net minimum payments on the capitalized leases as of March 31 is as follows: 2019 2018 Total minimum lease payments $ 44,688 $ 49,521 Less amount representing interest (8,433 ) (13,233 ) Present value of net minimum lease payments 36,255 36,288 Current portion (4,550 ) (4,191 ) Capitalized lease obligations, less current portion $ 31,705 $ 32,097

RISK MANAGEMENT ACTIVITIES AN_2

RISK MANAGEMENT ACTIVITIES AND FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Fair Value of Qualifying and Non-qualifying Instruments Used in Hedging Transactions	Fair Value Derivatives Designated as Hedging Instruments Balance Sheet Location 2019 2018 Assets: Cross currency swaps (Net investment hedges) Other current assets $ 5,127 $ 4,295 Interest rate swaps (Cash flow hedges) Other current assets 743 920 Foreign exchange forward contracts (Fair value hedges) Other current assets — 127 Foreign exchange forward contracts (Cash flow hedges) Other current assets 5 0 Interest rate swaps (Cash flow hedges) Other long-term assets — 4,956 Liabilities: Interest rate swaps (Cash flow hedges) Other current liabilities $ 377 $ — Foreign exchange forward contracts (Fair value hedges) Other current liabilities 234 190 Foreign exchange forward contracts (Cash flow hedges) Other current liabilities 345 — Cross currency swaps (Net investment hedges) Other long-term liabilities 1,563 50,019 Interest rate swaps (Cash flow hedges) Other long-term liabilities 2,353 — Fair Value Derivatives Not Designated as Hedging Instruments Balance Sheet Location 2019 2018 Assets: Foreign exchange forward contracts Other current assets $ 26 $ — Liabilities: Foreign exchange forward contracts Other current liabilities $ 30 $ 127
Amounts of Gains and (Losses) Recognized in AOCI Net of Reclassifications Into Earnings	The amounts of gains and (losses) recognized in AOCI net of reclassifications into earnings, during the twelve months ended March 31, 2019 and 2018 are as follows: Derivatives Designated as Hedging Instruments 2019 2018 Cross currency swaps (Net investment hedges) (1) $ 36,545 $ (29,667 ) Interest rate swaps (Cash flow hedges) (6,111 ) 4,259 Foreign exchange forward contracts (527 ) — (1) The net gain of $36,545 $4,833 $43,480, net of tax of $ (11,768)
Amounts of Gains and (Losses) Reclassified from AOCI into Earnings	The amounts of gains and (losses) reclassified from AOCI into earnings for the twelve months ended March 31, 2019 and 2018 are as follows: Derivatives Designated as Hedging Instruments 2019 2018 Cross currency swaps (1) $ 5,226 $ 4,234 Interest rate swaps (2) 674 (101 ) Foreign exchange forward contracts (2) (588 ) — (1) The Company had a $5,226 excluded component gain in AOCI which was recognized into income during the twelve months ended March 31, 2019. (2) During the next 12 months, $26 of gains included in the March 31, 2019 AOCI balance are expected to be reclassified into interest expense.
Amounts of Gains and (Losses) Included in Earnings from Qualifying and Non-qualifying Financial Instruments Used in Hedging Transactions	The amounts of gains and (losses) included in earnings from qualifying and non-qualifying financial instruments used in hedging transactions for the twelve months ended March 31, 2019 and 2018 are as follows: Derivatives Not Designated as Hedging Instruments Statement of Income Location 2019 2018 Foreign currency contract-Constantia purchase price Other income (expense), net $ — $ 8,109 Foreign currency contracts-Other Other income (expense), net 6,161 (7,198 ) Gain (loss) on underlying hedged items Other income (expense), net (5,340 ) 6,510 Cross currency swaps Interest expense 976 (4,018 ) Derivatives Designated as Hedging Instruments Statement of Income Location 2019 2018 Foreign exchange forward contracts (Fair value hedges) Other income (expense), net $ (46 ) $ (245 ) Gain on underlying hedged items Other income (expense), net 46 245

ACCRUED EXPENSES AND OTHER LI_2

ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)	12 Months Ended
	Mar. 31, 2019
Payables and Accruals [Abstract]
Summary of Accrued Expenses and Other Liabilities	The Company’s accrued expenses and other liabilities as of March 31 consisted of the following: 2019 2018 Accrued payroll and benefits $ 41,441 $ 45,418 Accrued income taxes 6,632 13,838 Professional fees 4,534 1,965 Accrued taxes other than income taxes 1,671 4,682 Accrued interest 13,746 16,480 Customer rebates 3,750 2,578 Exit and disposal costs related to facility closures 210 457 Deferred payments 1,881 9,735 Deferred revenue 10,654 11,887 Derivative liabilities 986 317 Other 9,234 6,665 Total accrued expenses and other liabilities $ 94,739 $ 114,022

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of Earnings before Income Taxes	Earnings before income taxes were as follows: 2019 2018 2017 U.S. $ 29,964 $ 6,848 $ 65,113 Foreign (46,299 ) 46,854 23,100 Total $ (16,335 ) $ 53,702 $ 88,213
Schedule of Provision (Benefit) for Income Taxes	The provision (benefit) for income taxes as of March 31 includes the following components: 2019 2018 2017 Current: Federal $ 420 $ 2,783 $ 16,889 State and local 2,306 611 2,498 Foreign 15,069 20,641 9,298 Total Current 17,795 24,035 28,685 Deferred: Federal 2,438 (18,406 ) 987 State and local (1,764 ) 70 (147 ) Foreign (6,137 ) (23,894 ) (2,677 ) Total Deferred (5,463 ) (42,230 ) (1,837 ) Total $ 12,332 $ (18,195 ) $ 26,848
Schedule of Reconciliation between U.S. Statutory Federal Income Tax Rate and Effective Tax Rate	The following is a reconciliation between the U.S. statutory federal income tax rate and the effective tax rate: 2019 2018 2017 U.S. federal statutory rate 21.0 % 31.5 % 35.0 % State and local income taxes, net of federal income tax benefit (1.9 )% 0.4 % 1.7 % Section 199 deduction — — (1.8 )% Foreign derived intangible income deduction 4.8 % — — International rate differential 45.1 % (5.1 )% (3.3 )% Unrecognized tax benefits 19.4 % 0.6 % (0.9 )% Foreign permanent differences 3.3 % (1.1 )% (2.1 )% Non-deductible transaction costs (8.3 )% 4.2 % 0.2 % Valuation allowances (3.6 )% 2.0 % 1.2 % U.S. Repatriation Tax 3.2 % 5.7 % — Goodwill impairment (176.6 )% — — Share-based Compensation 1.4 % (2.5 )% — Tax Rate Changes 18.0 % (70.8 )% — U.S. Research & Development Credit 6.6 % -1.5 % -0.8 % Other foreign taxes (6.9 )% 1.6 % 0.8 % Other (1.0 )% 1.1 % 0.4 % Effective tax rate (75.5 )% (33.9 )% 30.4 %
Schedule of Net Deferred Tax Components	2019 2018 Deferred tax liabilities: Book basis over tax basis of fixed assets $ (58,169 ) $ (44,717 ) Book basis over tax basis of intangible assets (128,273 ) (135,432 ) Interest rate swap (406 ) — Deferred financing costs (16 ) (297 ) Other (5,766 ) (6,370 ) Total deferred tax liabilities (192,630 ) (186,816 ) Deferred tax assets: Inventory reserves 2,165 925 Interest expense carryforwards 10,674 — Inventory capitalization 343 809 Allowance for doubtful accounts 201 242 Stock based compensation expense 1,307 1,305 Minimum pension liability 524 546 Loss carry forward amounts 35,771 25,110 Credit carry forward amounts 963 2,007 Interest rate swaps — 9,306 State basis over tax basis of fixed assets 1,554 667 Non-deductible accruals and other 8,491 10,148 Deferred compensation 234 699 Lease obligations 6,169 4,799 Gross deferred tax asset 68,396 56,563 Valuation allowance (31,702 ) (16,870 ) Net deferred tax asset 36,694 39,693 Net deferred tax liability $ (155,936 ) $ (147,123 )
Summary of Activity for Company's Unrecognized Tax Benefits	A summary of the activity for the Company’s unrecognized tax benefits as of March 31 is as follows: 2019 2018 Beginning balance $ 7,038 $ 5,665 Additions based on tax positions related to the current year 616 1,843 Additions of tax positions of prior years 1,870 833 Settlements (146 ) (1,358 ) Reductions of tax positions of prior years (233 ) (44 ) Lapse of applicable statutes of limitations (3,059 ) (345 ) Currency translation (240 ) 444 Ending balance $ 5,846 $ 7,038

EARNINGS PER COMMON SHARE (Tabl

EARNINGS PER COMMON SHARE (Tables)	12 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Reconciliation of Number of Shares Used in Basic and Diluted Earnings Per Share Computations	The following is a reconciliation of the number of shares used in the basic EPS and diluted EPS computations: 2019 2018 2017 Per Share Per Share Per Share Shares Amount Shares Amount Shares Amount Basic EPS 20,468 $ (1.42 ) 18,421 $ 3.91 16,879 $ 3.61 Effect of dilutive securities — — 162 (0.04 ) 145 (0.03 ) Diluted EPS 20,468 $ (1.42 ) 18,583 $ 3.87 17,024 $ 3.58

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted Average Assumptions	The Company calculates the value of each employee stock option, estimated on the grant date, using the Black-Scholes model and the following weighted average assumptions: 2019 2018 2017 Expected life (years) 5.6 5.7 5.8 Risk-free interest rate 2.8 % 1.8 % 1.2 % Expected volatility 29.5 % 32.4 % 38.9 % Dividend yield 0.3 % 0.3 % 0.3 %
Summary of Changes in Options Outstanding	A summary of the changes in the options outstanding for years ended March 31, 2019, 2018 and 2017 is shown below: Weighted Weighted Average Aggregate Average Exercise Remaining Life Intrinsic Options Price (Years) Value Outstanding at March 31, 2016 600 $ 34.50 Granted 32 $ 61.62 Exercised (136 ) $ 24.52 $ 5,664 Forfeited (25 ) $ 41.66 Outstanding at March 31, 2017 471 $ 38.84 Granted 119 $ 85.38 Exercised (110 ) $ 26.60 $ 5,990 Forfeited (14 ) $ 57.10 Outstanding at March 31, 2018 466 $ 53.10 Granted 45 $ 70.77 Exercised (76 ) $ 27.80 $ 2,403 Forfeited (18 ) $ 64.86 Outstanding at March 31, 2019 417 $ 59.09 6.4 $ 2,693 Exercisable at March 31, 2019 203 $ 45.86 5.0 $ 2,498 Exercisable at March 31, 2018 186 $ 33.72 5.0 $ 6,024
Summary of Changes in Restricted Shares	A summary of the changes in restricted shares for the year ended March 31, 2019, 2018 and 2017 is shown below: Weighted Average Restricted Grant Date Shares Fair Value Non-vested restricted shares at March 31, 2016 25 $ 55.99 Granted 8 $ 64.50 Vested (15 ) $ 51.67 Forfeited (1 ) $ 64.05 Non-vested restricted shares at March 31, 2017 17 $ 62.72 Granted 9 $ 85.17 Vested (10 ) $ 63.46 Forfeited (3 ) $ 72.47 Non-vested restricted shares at March 31, 2018 13 $ 76.17 Granted 19 $ 64.72 Vested (7 ) $ 72.88 Forfeited — $ — Non-vested restricted shares at March 31, 2019 25 $ 68.32
Summary of Changes in Restricted Share Units	A summary of the changes in restricted share units for the years ended March 31, 2019, 2018 and 2017 are shown below: Weighted Average Grant Date RSUs Fair Value Non-vested RSUs at March 31, 2016 42 $ 64.05 Granted 35 $ 61.19 Forfeited (18 ) $ 62.59 Non-vested RSUs at March 31, 2017 59 $ 62.80 Granted 19 $ 85.90 Vested (12 ) $ 64.05 Forfeited (30 ) $ 67.51 Non-vested RSUs at March 31, 2018 36 $ 70.73 Granted 46 $ 66.62 Vested (10 ) $ 61.19 Forfeited (12 ) $ 61.19 Non-vested RSUs at March 31, 2019 60 $ 71.09

GEOGRAPHIC INFORMATION (Tables)

GEOGRAPHIC INFORMATION (Tables)	12 Months Ended
	Mar. 31, 2019
Text Block [Abstract]
Summary of Net Revenues and Long-lived Assets Based on Geographic Area	Net revenues, based on the geographic area from which the product is shipped, for the years ended March 31 and long-lived assets by geographic area as of March 31 are as follows: 2019 2018 2017 Net revenues: United States $ 660,275 $ 584,458 $ 511,551 Belgium 152,242 67,035 — Germany 132,973 62,184 — Other International 780,064 587,235 411,744 Total $ 1,725,554 $ 1,300,912 $ 923,295 2019 2018 Long-lived assets: United States $ 584,274 $ 649,413 Belgium (1) 408,171 (7,455 ) Germany 252,533 878,106 Other International 806,594 778,902 Total $ 2,051,572 $ 2,298,966 (1) We allocate goodwill to our foreign and domestic locations. In fiscal 2018, negative goodwill associated with the acquisition of Constantia Labels was allocated to our plant in Belgium, as the final goodwill allocation was not complete.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Summary of Annual Future Minimum Rental Obligations	The annual future minimum rental obligations as of March 31, 2019 are as follows: Fiscal 2020 $ 22,595 Fiscal 2021 19,569 Fiscal 2022 17,297 Fiscal 2023 13,168 Fiscal 2024 7,585 Thereafter 15,877 Total $ 96,091

SUPPLEMENTAL CASH FLOW DISCLO_2

SUPPLEMENTAL CASH FLOW DISCLOSURES (Tables)	12 Months Ended
	Mar. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures of Cash Flow Information and Non-Cash Activities	Supplemental disclosures with respect to cash flow information and non-cash investing and financing activities are as follows: 2019 2018 2017 Supplemental Disclosures of Cash Flow Information: Interest paid $ 81,613 $ 32,844 $ 23,672 Income taxes paid, net of refunds 28,514 30,305 21,143 Supplemental Disclosures of Non-Cash Activities: Additional minimum pension liability $ 37 $ (55 ) $ (282 ) Capital expenditures incurred but not yet paid 5,958 9,958 3,323 Capital lease obligations incurred 1,882 — 864 Change in derivative contract fair value - asset position (4,397 ) 10,298 — Change in derivative contract fair value - liability position 45,434 (50,336 ) 225 Business combinations accounted for as a purchase: Assets acquired (excluding cash) $ 16,233 $ 1,612,925 $ 45,328 Liabilities assumed (15,033 ) (335,648 ) (16,669 ) Liabilities for contingent / deferred payments — (13,713 ) 242 MCC common stock issued — (237,820 ) — Noncontrolling interest (1,200 ) (1,100 ) (62 ) Net cash paid $ — $ 1,024,644 $ 28,839

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	12 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Loss by Component	The changes in the Company’s accumulated other comprehensive loss by component consisted of the following: Foreign Gains and (losses) currency on derivative Defined benefit items contracts pension items Total Balance at March 31, 2017 $ (85,593 ) $ — $ (202 ) $ (85,795 ) OCI before reclassifications (1) 91,928 (22,635 ) 3 69,296 Amounts reclassified from AOCI — (2,773 ) 31 (2,742 ) Net current period OCI 91,928 (25,408 ) 34 66,554 Balance at March 31, 2018 6,335 (25,408 ) (168 ) (19,241 ) OCI before reclassifications (2) (135,054 ) 33,894 (32 ) (101,192 ) Amounts reclassified from AOCI — (3,987 ) 4 (3,983 ) Net current period OCI (135,054 ) 29,907 (28 ) (105,175 ) ASU 2018-02 reclassifications of stranded tax effects (244 ) (1,506 ) — (1,750 ) Balance at March 31, 2019 $ (128,963 ) $ 2,993 $ (196 ) $ (126,166 ) (1) Net of tax of $9,063 (1 (2) Net of tax of $(11,351) and $11 for derivative contracts and defined benefit pension items, respectively.
Schedule of (Gains) and Losses Reclassified from AOCI	Reclassifications out of accumulated other comprehensive loss consisted of the following: 2019 2018 Gains and losses on cash flow hedges: Cross currency swaps (1) $ (5,226 ) $ (4,234 ) Interest rate swaps (1) (674 ) 101 Foreign exchange forward contracts (2) 588 — Tax 1,325 1,360 Net of tax (3,987 ) (2,773 ) Defined benefit pension items: Amortization of net actuarial losses (3) 6 7 Settlement and curtailments (3) — 44 Tax (2 ) (20 ) Net of tax 4 31 Total reclassifications, net of tax $ (3,983 ) $ (2,742 ) (1) Reclassified from AOCI into interest expense in the consolidated statements of operations. See Note 10. (2) Reclassified from AOCI into cost of revenues in the consolidated statements of operations. See Note 10. (3) Reclassified from AOCI into facility closure expenses in the consolidated statements of operations. These components are included in the computation of net periodic pension cost. See Note 12.

FACILITY CLOSURES (Tables)

FACILITY CLOSURES (Tables)	12 Months Ended
	Mar. 31, 2019
Cowansville Canada
Summary of Exit and Disposal Costs Related to Closure	Below is a summary of the exit and disposal costs related to the closure of the Cowansville facility: Total costs Total costs incurred Cumulative costs incurred 2019 March 31, 2019 Severance and other termination benefits $ 150 $ 111 $ 111 Other associated costs — — —
Reconciliation of the Beginning and Ending Liability Balances Related to the Contractual Termination Benefits and Exit and Disposal Costs	Below is a reconciliation of the beginning and ending liability balances related to the exit and disposal costs: Balance at Amounts Amounts Balance at Severance and other termination benefits $ — 111 (54 ) $ 57
Melbourne Australia
Summary of Exit and Disposal Costs Related to Closure	Below is a summary of the total contractual termination benefits and exit and disposal costs related to the closure of the Melbourne facility: Total costs Total costs incurred Cumulative costs incurred 2019 March 31, 2019 Severance and other termination benefits $ 170 $ 170 $ 170 Other associated costs 700 900 612 612
Reconciliation of the Beginning and Ending Liability Balances Related to the Contractual Termination Benefits and Exit and Disposal Costs	Below is a reconciliation of the beginning and ending liability balances related to the contractual termination benefits and exit and disposal costs: Balance at Amounts Amounts Balance at March Severance and other termination benefits $ — 170 (170 ) $ — Other associated costs $ — 612 (459 ) $ 153
Merignac France
Summary of Exit and Disposal Costs Related to Closure	Below is a summary of the total contractual termination benefits and exit and disposal costs related to the closure of the Merignac facility: Total costs expected to be Total costs incurred Cumulative costs incurred 2019 2018 March 31, 2019 Severance and other termination benefits $ 663 $ (40 ) $ 703 $ 663 Other associated costs 566 750 220 347 567
Reconciliation of the Beginning and Ending Liability Balances Related to the Contractual Termination Benefits and Exit and Disposal Costs	Below is a reconciliation of the beginning and ending liability balances related to the contractual termination benefits and exit and disposal costs: Balance at Amounts Amounts Balance at Severance and other termination benefits $ 457 (40 ) (417 ) $ — Other associated costs $ — 220 (220 ) $ —
Dormans France
Summary of Exit and Disposal Costs Related to Closure	Below is a summary of the exit and disposal costs related to the closure of the Dormans facility: 2018 Severance and other termination benefits $ 106 Other associated costs 23
Sonoma California
Summary of Exit and Disposal Costs Related to Closure	During fiscal 2017, the Company incurred the following exit and disposal costs related to the closure of the Sonoma facility, which were recorded in facility closure expenses in the consolidated statements of operations: 2017 Severance and other termination benefits $ 6 Other associated costs 91
Glasgow Scotland
Summary of Exit and Disposal Costs Related to Closure	During fiscal 2017, the Company incurred the following exit and disposal costs related to the consolidation of the Glasgow facilities, which were recorded in facility closure expenses in the consolidated statements of operations: 2017 Severance and other termination benefits $ 100 Other associated costs 539
Greensboro North Carolina
Summary of Exit and Disposal Costs Related to Closure	During fiscal 2017, the Company incurred the following exit and disposal costs related to the closure of the Greensboro facility, which were recorded in facility closure expenses in the consolidated statements of operations: 2017 Severance and other termination benefits $ (22 ) Contract termination costs (66 ) Other associated costs 207
Dublin Ireland
Summary of Exit and Disposal Costs Related to Closure	During fiscal 2017, the Company incurred the following exit and disposal costs related to the closure of the Dublin facility, which were recorded in facility closure expenses in the consolidated statements of operations: 2017 Severance and other termination benefits $ 102 Contract termination costs 177 Other associated costs 76

QUARTERLY DATA (Tables)

QUARTERLY DATA (Tables)	12 Months Ended
	Mar. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information	Earnings per share amounts are computed independently each quarter. As a result, the sum of each quarter’s per share amount may not equal the total per share amount for the respective year. Quarter Fiscal 2019 First Second Third Fourth Net revenues $ 456,131 $ 434,913 $ 397,004 $ 437,506 Gross profit 88,010 86,785 65,381 81,744 Net income (loss) 18,092 23,805 11,475 (82,039 ) Net income (loss) attributable to Multi-Color Corporation 18,139 23,755 11,286 (82,221 ) Basic earnings (loss) per share $ 0.89 $ 1.16 $ 0.55 $ (4.01 ) Diluted earnings (loss) per share 0.88 1.16 0.55 (4.01 ) Fiscal 2019 results include $711 ($507 Quarter First Second Third Fourth Facility closure expenses $ 27 $ 114 $ 60 $ 510 Quarter Fiscal 2018 First Second Third Fourth Net revenues $ 242,440 $ 256,034 $ 352,699 $ 449,739 Gross profit 49,457 51,774 57,302 88,067 Net income 14,142 15,190 20,511 22,054 Net income attributable to Multi-Color Corporation 14,106 15,190 20,532 22,123 Basic earnings per share $ 0.83 $ 0.89 $ 1.06 $ 1.08 Diluted earnings per share 0.82 0.88 1.06 1.08 Fiscal 2018 results include $1,419 ($945 after-tax) in costs related to the closure of our manufacturing facilities located in Merignac and Dormans, France and Norway, Michigan. These expenses were recorded as follows: Quarter First Second Third Fourth Facility closure expenses $ 34 $ 95 $ 761 $ 529

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands		12 Months Ended
		Mar. 31, 2019USD ($)Segment	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Apr. 01, 2019USD ($)
Number of reportable segment | Segment		1
Research and development cost		$ 8,065	$ 5,834	$ 5,274
Cash in foreign bank accounts		57,762	67,708
Unrealized foreign currency translation loss	[1]	(136,726)	93,892	(25,254)
Transaction gains and (losses) reported in other income and expense		149	3,899	(533)
Goodwill, Impairment Loss		$ 99,155	0	0
Valuation, Market Approach [Member]
Weighting of Valuation Technique		25.00%
Valuation, Income Approach [Member]
Weighting of Valuation Technique		75.00%
Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset					$ 125,000
Operating Lease, Liability					$ 125,000
Accumulated Other Comprehensive Loss
ASU 2018-02 reclassification of stranded tax effects		$ (1,750)
Selling, General and Administrative Expenses
Losses on sale of receivables		(1,964)	(1,325)	$ (561)
Accounts Payable
Outstanding checks		15,272	2,280
Foreign Bank Accounts
Cash in foreign bank accounts		$ 56,914	$ 66,061
Maximum
Finite-Lived intangible asset, useful life		21 years
[1]	The amount for the years ended March 31, 2019, 2018 and 2017 includes a tax impact of $262, $(654) and $284, respectively, related to the settlement of foreign currency denominated intercompany loans.

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Property, Plant and Equipment, Estimated Useful Lives (Detail)	12 Months Ended
	Mar. 31, 2019
Building improvements
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	15 years
Maximum | Building
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	39 years
Maximum | Machinery and equipment
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	15 years
Maximum | Computer
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	5 years
Maximum | Furniture and fixtures
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	10 years
Minimum | Building
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	20 years
Minimum | Machinery and equipment
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	3 years
Minimum | Computer
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	3 years
Minimum | Furniture and fixtures
Property, Plant and Equipment [Line Items]
Estimated useful life of assets	5 years

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) $ in Thousands	12 Months Ended
	Mar. 31, 2019USD ($)
Other Revenues [Line Items]
Contract with customer, liability, revenue recognized	$ 10,760
Minimum | Accounting Standards Update 2014-09
Other Revenues [Line Items]
Customer payment terms	30 days
Maximum | Accounting Standards Update 2014-09
Other Revenues [Line Items]
Customer payment terms	90 days

Revenue Recognition - Summary o

Revenue Recognition - Summary of Changes on Consolidated Balance Sheet due to Adoption of ASU 2014-09 (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Apr. 01, 2018	Mar. 31, 2018
Assets:
Accounts receivable, net	$ 300,945		$ 306,542
Inventories, net	144,235		167,950
Other current assets	40,769		17,468
Liabilities and Stockholders' Equity:
Accrued expenses and other liabilities	94,739		114,022
Deferred income tax liabilities	160,017		149,950
Accumulated other comprehensive loss	(126,166)		(19,241)
Retained earnings	355,973		$ 384,671
Accounting Standards Update 2014-09
Assets:
Accounts receivable, net		$ 306,795
Inventories, net		149,664
Other current assets		39,125
Liabilities and Stockholders' Equity:
Accrued expenses and other liabilities		113,807
Deferred income tax liabilities		151,075
Accumulated other comprehensive loss		(19,228)
Retained earnings		387,372
Adjustments | Accounting Standards Update 2014-09
Assets:
Accounts receivable, net	(169)	253
Inventories, net	15,494	(18,286)
Other current assets	(18,230)	21,657
Liabilities and Stockholders' Equity:
Accrued expenses and other liabilities	347	(215)
Deferred income tax liabilities	(919)	1,125
Accumulated other comprehensive loss	5	13
Retained earnings	$ (2,338)	$ 2,701

Revenue Recognition - Summary_2

Revenue Recognition - Summary of Net Contract Assets and Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Apr. 01, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net contract assets and liabilities	$ 18,489	$ 19,251
Other current assets
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract assets	29,143	31,001
Accrued Expenses and Other Liabilities
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract liabilities	$ (10,654)	$ (11,750)

Revenue Recognition - Summary_3

Revenue Recognition - Summary of Condensed Consolidated Statement of Income as if ASU 2014-09 Has Not Been Adopted and Adjustment Required Upon Adoption of ASU 2014-09 (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net revenues	$ 437,506	$ 397,004	$ 434,913	$ 456,131	$ 449,739	$ 352,699	$ 256,034	$ 242,440	$ 1,725,554	$ 1,300,912	$ 923,295
Cost of revenues									1,403,634	1,054,312	726,486
Gross profit	81,744	65,381	86,785	88,010	88,067	57,302	51,774	49,457	321,920	246,600	196,809
Selling, general and administrative expenses									160,710	129,601	84,922
Operating income									61,344	115,580	110,966
Income tax benefit									12,332	(18,195)	26,848
Net income (loss)	$ (82,039)	$ 11,475	$ 23,805	$ 18,092	$ 22,054	$ 20,511	$ 15,190	$ 14,142	(28,667)	$ 71,897	$ 61,365
Accounting Standards Update 2014-09 | Adjustments
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net revenues									3,349
Cost of revenues									2,713
Gross profit									636
Selling, general and administrative expenses									67
Operating income									569
Income tax benefit									206
Net income (loss)									363
Accounting Standards Update 2014-09 | Calculated under Revenue Guidance in Effect before Topic 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net revenues									1,728,903
Cost of revenues									1,406,347
Gross profit									322,556
Selling, general and administrative expenses									160,777
Operating income									61,913
Income tax benefit									12,538
Net income (loss)									$ (28,304)

Revenue Recognition - Summary_4

Revenue Recognition - Summary of Condensed Consolidated Balance sheet as if ASU 2014-09 Has Not Been Adopted and Adjustment Required Upon Adoption of ASU 2014-09 (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Apr. 01, 2018	Mar. 31, 2018
Assets:
Accounts receivable, net	$ 300,945		$ 306,542
Inventories, net	144,235		167,950
Other current assets	40,769		17,468
Liabilities and Stockholders' Equity:
Accrued expenses and other liabilities	94,739		114,022
Deferred income tax liabilities	160,017		149,950
Accumulated other comprehensive loss	(126,166)		(19,241)
Retained earnings	355,973		$ 384,671
Accounting Standards Update 2014-09
Assets:
Accounts receivable, net		$ 306,795
Inventories, net		149,664
Other current assets		39,125
Liabilities and Stockholders' Equity:
Accrued expenses and other liabilities		113,807
Deferred income tax liabilities		151,075
Accumulated other comprehensive loss		(19,228)
Retained earnings		387,372
Accounting Standards Update 2014-09 | Calculated under Revenue Guidance in Effect before Topic 606
Assets:
Accounts receivable, net	300,776
Inventories, net	159,729
Other current assets	22,539
Liabilities and Stockholders' Equity:
Accrued expenses and other liabilities	95,086
Deferred income tax liabilities	159,098
Accumulated other comprehensive loss	(126,161)
Retained earnings	353,635
Accounting Standards Update 2014-09 | Adjustments
Assets:
Accounts receivable, net	(169)	253
Inventories, net	15,494	(18,286)
Other current assets	(18,230)	21,657
Liabilities and Stockholders' Equity:
Accrued expenses and other liabilities	347	(215)
Deferred income tax liabilities	(919)	1,125
Accumulated other comprehensive loss	5	13
Retained earnings	$ (2,338)	$ 2,701

Revenue Recognition - Summary_5

Revenue Recognition - Summary of Net Revenues Disaggregated by Region and Timing of Revenue Recognition (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Net revenues	$ 437,506	$ 397,004	$ 434,913	$ 456,131	$ 449,739	$ 352,699	$ 256,034	$ 242,440	$ 1,725,554	$ 1,300,912	$ 923,295
Point-in-time
Disaggregation of Revenue [Line Items]
Net revenues									1,494,520
Point-in-time | North America
Disaggregation of Revenue [Line Items]
Net revenues									550,851
Point-in-time | Europe
Disaggregation of Revenue [Line Items]
Net revenues									672,349
Point-in-time | Asia Pacific and Africa
Disaggregation of Revenue [Line Items]
Net revenues									246,657
Point-in-time | South America
Disaggregation of Revenue [Line Items]
Net revenues									24,663
Over-time
Disaggregation of Revenue [Line Items]
Net revenues									231,034
Over-time | North America
Disaggregation of Revenue [Line Items]
Net revenues									224,380
Over-time | Europe
Disaggregation of Revenue [Line Items]
Net revenues									3,970
Over-time | Asia Pacific and Africa
Disaggregation of Revenue [Line Items]
Net revenues									2,684
Over-time | South America
Disaggregation of Revenue [Line Items]
Net revenues									$ 0

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail)

Oct. 31, 2017USD ($)EmployeePlantCountry$ / sharesshares

Oct. 11, 2017USD ($)

Aug. 03, 2017USD ($)

Jul. 03, 2017USD ($)

Jan. 03, 2017USD ($)

Jul. 06, 2016USD ($)

Jul. 01, 2016USD ($)

Mar. 31, 2019

Sep. 30, 2018USD ($)

Jun. 30, 2018USD ($)

Mar. 31, 2018USD ($)

Dec. 31, 2017USD ($)

Sep. 30, 2017USD ($)

Jun. 30, 2017USD ($)

Dec. 31, 2016USD ($)

Mar. 31, 2019USD ($)

Mar. 31, 2018USD ($)

Mar. 31, 2017USD ($)

Mar. 31, 2016USD ($)

Jan. 31, 2017USD ($)

Business Acquisition [Line Items]

Increased noncontrolling interest

$ 62,000

Goodwill, period increase (decrease)

$ (34,478,000)

$ (359,000)

Accounts receivable acquired, fair value

$ 117,248,000

Percentage Of Controlling Interest Sold

60.00%

Proceeds from Sales of Business, Affiliate and Productive Assets

$ 3,620,000

3,620,000

Gain (Loss) on Disposition of Business

$ 512,000

(512,000)

Senior Notes | 4.875% Notes, due November 1, 2025

Business Acquisition [Line Items]

Debt instrument, interest rate

4.875%

4.875%

Gironde Imprimerie Publicite

Business Acquisition [Line Items]

Equity interest acquired

67.60%

Deferred payment

$ 208,000

Net debt assumed

862,000

Purchase price, before debt assumed

$ 2,084,000

Constantia Labels

Business Acquisition [Line Items]

Equity interest acquired

100.00%

Number of employees | Employee

2,800

Number of plants | Plant

24

Number of countries operated | Country

14

Number of shared issued for acquisition | shares

3,383,000

Fair value of the shares issued

$ 237,820,000

Price per share | $ / shares

$ 82.70

Deferred payment

$ 3,901,000

$ 807,000

Deferred payment period

90 days

Future performance based earnout included in purchase price

$ 9,026,000

Future performance based earnouts future payout, minimum

$ 0

Future performance based earnouts future payout period, maximum

90 days

Cash acquired, allocated to purchase price

$ 49,725,000

Bank debt assumed

38,491,000

Acquisition expenses

17,379,000

Liabilities assumed, contingent liability

$ 9,671,000

Contingent liability paid

$ 7,523,000

Increased noncontrolling interest

$ 1,200,000

Goodwill, period increase (decrease)

4,083,000

$ (33,772,000)

Goodwill, increase/decrease due to preliminary valuation of property plant and equipment

33,607,000

Goodwill, increase/decrease due to preliminary valuation of intangible assets

22,400,000

Goodwill, increase/decrease due to preliminary valuation of deferred tax liabilities

11,195,000

Goodwill, increase/decrease due to preliminary valuation of capital leases

(4,881,000)

Credit to depreciation expense related to acquisition

(4,055,000)

Amortization expense related to acquisition

911,000

Goodwill, decrease due to preliminary valuation of other assets

5,311,000

Goodwill, increase/decrease due to valuation of accrued expenses

(3,574,000)

Goodwill, decrease due to preliminary valuation of inventory

1,768,000

$ (4,846,000)

Weighted-average amortization period for identifiable intangible assets acquired

18 years

Accounts receivable acquired, fair value

$ 117,248,000

The gross contractual value of receivables

119,883,000

Estimated contractual cash flows not expected to be collected

2,635,000

Purchase price, before cash acquired

1,048,656,000

Total purchase price

$ 1,288,169,000

Goodwill, increase due to valuation of related current and deferred tax assets and liabilities

4,765,000

Goodwill, increase due to valuation of accrued and other liabilities

$ 1,601,000

Decrease In Purchase Price Before Cash Acquired

8,912,000

Constantia Labels | Selling, General and Administrative Expenses

Business Acquisition [Line Items]

Acquisition expenses

$ 1,246,000

$ 632,000

$ 11,299,000

$ 3,545,000

$ 744,000

$ 18,000

Credit of acquisition expenses

(105,000)

Constantia Labels | South Africa

Business Acquisition [Line Items]

Equity interest acquired

75.00%

Constantia Labels | Senior Notes | 4.875% Notes, due November 1, 2025

Business Acquisition [Line Items]

Debt instrument, interest rate

4.875%

4.875%

Tanzania Printers

Business Acquisition [Line Items]

Equity interest acquired

100.00%

Deferred payment period

1 year

Cash acquired, allocated to purchase price

$ 397,000

Date of acquisition

Oct. 11, 2017

Purchase price, before cash acquired

15,929,000

Net debt assumed

9,557,000

Indemnification Asset

$ 1,593,000

GEWA Etiketten GmbH

Business Acquisition [Line Items]

Equity interest acquired

100.00%

Date of acquisition

Aug. 3, 2017

Net debt assumed

$ 5,228,000

Total purchase price

21,846,000

Amount held in escrow account

$ 2,185,000

Period for releasing escrow deposit

18 months

GEWA Etiketten GmbH | Gironde Imprimerie Publicite

Business Acquisition [Line Items]

Minority interest, percentage

2.40%

Graphix Labels and Packaging Pty Ltd

Business Acquisition [Line Items]

Equity interest acquired

100.00%

Deferred payment

$ 1,631,000

Deferred payment period

3 months

Date of acquisition

Jan. 3, 2017

Total purchase price

$ 17,261,000

Barat Group | Gironde Imprimerie Publicite

Business Acquisition [Line Items]

Minority interest, percentage

30.00%

Fair value of equity interest

$ 771,000

Gain recognized as a result of re-measuring the fair value of equity interest

$ 690,000

Industria Litografica Alessandrina S.r.l.

Business Acquisition [Line Items]

Equity interest acquired

100.00%

Deferred payment

$ 819,000

Deferred payment period

3 years

Date of acquisition

Jul. 6, 2016

Net debt assumed

$ 3,547,000

Purchase price, before debt assumed

$ 6,301,000

Italstereo Resin Labels S.r.l.

Business Acquisition [Line Items]

Equity interest acquired

100.00%

Cash acquired, allocated to purchase price

$ 181,000

Date of acquisition

Jul. 1, 2016

Purchase price, before cash acquired

$ 3,342,000

$ 133,000

$ 201,000

Acquisitions - Purchase Price (

Acquisitions - Purchase Price (Detail) - USD ($) $ in Thousands	Oct. 31, 2017	Mar. 31, 2018	Jun. 30, 2018
Business Acquisition [Line Items]
MCC common stock issued		$ 237,820
Net cash acquired	$ (11,234)
Constantia Labels
Business Acquisition [Line Items]
Cash from proceeds of borrowings	1,048,656
MCC common stock issued	237,820
Deferred payments	3,901		$ 807
Contingent consideration	9,026
Purchase price, before cash acquired	1,299,403
Net cash acquired	(11,234)
Total purchase price	$ 1,288,169

Acquisitions - Purchase Price A

Acquisitions - Purchase Price Allocation (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018	Oct. 31, 2017	Mar. 31, 2017
Assets Acquired:
Net cash acquired			$ 11,234
Accounts receivable			117,248
Inventories			82,472
Property, plant and equipment			250,479
Intangible assets			432,400
Goodwill	$ 978,544	$ 1,196,634	673,561	$ 412,550
Other assets			13,747
Total assets acquired			1,581,141
Liabilities Assumed:
Accounts payable			93,812
Accrued income taxes payable			4,401
Accrued expenses and other liabilities			41,378
Deferred tax liabilities			139,847
Total liabilities assumed			279,438
Net assets acquired			1,301,703
Noncontrolling interests	$ (1,200)	$ (1,100)	(2,300)	$ (62)
Net assets acquired attributable to Multi-Color Corporation			$ 1,299,403

Acquisitions - Fair Value of Id

Acquisitions - Fair Value of Identifiable Intangible Assets Acquired and Estimated Useful Lives (Detail) $ in Thousands	Oct. 31, 2017USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 432,400
Constantia Labels
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 432,400
Useful Lives	18 years
Constantia Labels | Customer Relationships
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 407,300
Useful Lives	19 years
Constantia Labels | Technology
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 20,700
Useful Lives	4 years
Constantia Labels | Trade Name
Acquired Finite-Lived Intangible Assets [Line Items]
Fair Value	$ 4,400
Useful Lives	4 years

Acquisitions - Schedule of Pro

Acquisitions - Schedule of Pro Forma Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Business Combinations [Abstract]
Net revenues	$ 1,718,924	$ 1,588,090
Net income attributable to Multi-Color	$ 87,147	$ 78,768
Diluted earnings per share	$ 4.24	$ 3.86

Acquisitions - Reconciliation o

Acquisitions - Reconciliation of Actual Net Revenues and Net Income Attributable to Multi-Color Corporation to Pro Forma Net Revenues and Net Income (Detail) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
		Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Business Acquisition, Pro Forma Information [Line Items]
Multi-Color Corporation actual results, Net Income		$ (82,221)	$ 11,286	$ 23,755	$ 18,139	$ 22,123	$ 20,532	$ 15,190	$ 14,106	$ (29,041)	$ 71,951	$ 60,996
Pro forma adjustments, Net Income											(8,230)	(34,337)
Pro forma results, Net Income											87,147	78,768
Multi-Color Corporation actual results, Net Revenues		$ 437,506	$ 397,004	$ 434,913	$ 456,131	$ 449,739	$ 352,699	$ 256,034	$ 242,440	$ 1,725,554	1,300,912	923,295
Pro forma results, Net Revenues											1,718,924	1,588,090
Constantia Labels
Business Acquisition, Pro Forma Information [Line Items]
Constantia Labels actual results, Net Income	[1]										23,426	52,109
Constantia Labels actual results, Net Revenues	[1]										$ 418,012	$ 664,795
[1]	Constantia Labels actual results include the seven months pre-acquisition in fiscal 2018 and 12 months in fiscal 2017. Constantia Labels results for the five months post-acquisition in fiscal 2018 are included in the Multi-Color Corporation actual results.

Acquisitions - Pro Forma Adjust

Acquisitions - Pro Forma Adjustments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma adjustments	$ (8,230)	$ (34,337)
Financing Costs | Constantia Labels
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma adjustments	9,689	15,524
Acquisition Transaction Costs
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma adjustments	16,220	18
Incremental Depreciation and Amortization Costs
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma adjustments	(8,468)	(14,667)
Incremental Interest Costs
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma adjustments	(29,368)	(50,639)
Tax Effect of Adjustments
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Pro forma adjustments	$ 3,697	$ 15,427

Accounts Receivable Allowance -

Accounts Receivable Allowance - Summary of Activity in Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Receivables [Abstract]
Balance at beginning of year	$ 2,704	$ 2,273	$ 2,497
Provision	312	319	234
Accounts written-off	(281)	(62)	(384)
Foreign exchange	(137)	174	(74)
Balance at end of year	$ 2,598	$ 2,704	$ 2,273

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Inventory Disclosure [Abstract]
Finished goods	$ 60,493	$ 80,845
Work-in-process	21,010	21,156
Raw materials	62,732	65,949
Total inventories, net	$ 144,235	$ 167,950

Property, Plant and Equipment -

Property, Plant and Equipment - Additional Information (Detail) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 60,474,000	$ 46,913,000	$ 33,480,000
Impairment loss on fixed assets	0	0
Merignac France | Facility closure expenses
Property, Plant and Equipment [Line Items]
Facility closure expenses related to impairment loss on fixed assets		125,000
Impairment of Long Lived Assets to be Disposed of Related to Facility Closures		125,000
Dublin Ireland | Facility closure expenses
Property, Plant and Equipment [Line Items]
Facility closure expenses related to impairment loss on fixed assets		25,000
Impairment of Long Lived Assets to be Disposed of Related to Facility Closures		$ 25,000
Cowansville Canada | Facility closure expenses
Property, Plant and Equipment [Line Items]
Facility closure expenses related to impairment loss on fixed assets	309,000
Impairment of Long Lived Assets to be Disposed of Related to Facility Closures	$ 309,000

Property, Plant and Equipment_2

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 812,856	$ 745,982
Accumulated depreciation	(284,779)	(235,980)
Property, plant and equipment, net	528,077	510,002
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	19,095	13,766
Buildings, building improvements and leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	123,517	114,790
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	603,882	535,142
Furniture, fixtures, computer equipment and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	42,049	50,779
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 24,313	$ 31,505

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($)	Oct. 31, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Schedule Of Goodwill And Intangible Assets [Line Items]
Amortization expense of intangible assets		$ 43,618,000	$ 26,009,000	$ 14,425,000
Impairment charges		$ 0	$ 0
Constantia Labels [Member]
Schedule Of Goodwill And Intangible Assets [Line Items]
Weighted-average amortization period for identifiable intangible assets acquired	18 years
Valuation, Market Approach [Member]
Schedule Of Goodwill And Intangible Assets [Line Items]
Weighting Of Valuation Technique		25.00%
Valuation, Income Approach [Member]
Schedule Of Goodwill And Intangible Assets [Line Items]
Weighting Of Valuation Technique		75.00%
IML FoodAnd Beverage [Member]
Schedule Of Goodwill And Intangible Assets [Line Items]
Reporting Unit, Amount of Fair Value in Excess of Carrying Amount		$ 85,109,000
Europe FoodAnd Beverage [Member]
Schedule Of Goodwill And Intangible Assets [Line Items]
Reporting Unit, Amount of Fair Value in Excess of Carrying Amount		$ 14,046,000
Minimum
Schedule Of Goodwill And Intangible Assets [Line Items]
Goodwill Impairment Discounted At Rates		8.50%	8.50%
Maximum
Schedule Of Goodwill And Intangible Assets [Line Items]
Goodwill Impairment Discounted At Rates		13.00%	11.50%

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Goodwill [Roll Forward]
Goodwill, gross, Beginning balance	$ 1,210,179	$ 424,941
Accumulated impairment losses, Beginning balance	(13,545)	(12,391)
Goodwill, net, Beginning balance	1,196,634	412,550
Acquisitions	0	721,874
Adjustments to prior year acquisitions	(34,478)	(359)
Currency translation	(84,457)	63,096
Impairment	99,155	0	$ 0
Sale of Southeast Asian durables business	0	(527)
Goodwill, gross, Ending Balance	1,089,010	1,210,179	424,941
Accumulated impairment losses, Ending balance	(110,466)	(13,545)	(12,391)
Goodwill, net, Ending balance	$ 978,544	$ 1,196,634	$ 412,550

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 671,121	$ 673,973
Accumulated Amortization	(132,925)	(93,740)
Net Carrying Amount	538,196	580,233
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	641,385	648,273
Accumulated Amortization	(119,821)	(87,560)
Net Carrying Amount	521,564	560,713
Technologies
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	21,540	21,721
Accumulated Amortization	(8,512)	(3,586)
Net Carrying Amount	13,028	18,135
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	4,372	99
Accumulated Amortization	(1,635)	(66)
Net Carrying Amount	2,737	33
Non-compete Agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	3,824	3,880
Accumulated Amortization	(2,957)	(2,528)
Net Carrying Amount	$ 867	$ 1,352

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Estimated Useful Lives for Each Intangible Asset Class (Detail)	12 Months Ended
	Mar. 31, 2019
Maximum
Intangible Assets, Useful Life	21 years
Customer relationships | Minimum
Intangible Assets, Useful Life	9 years
Customer relationships | Maximum
Intangible Assets, Useful Life	21 years
Technologies | Minimum
Intangible Assets, Useful Life	1 year
Technologies | Maximum
Intangible Assets, Useful Life	8 years
Trademarks and trade names | Minimum
Intangible Assets, Useful Life	1 year
Trademarks and trade names | Maximum
Intangible Assets, Useful Life	4 years
Non-compete agreements | Minimum
Intangible Assets, Useful Life	2 years
Non-compete agreements | Maximum
Intangible Assets, Useful Life	7 years

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets - Annual Estimated Amortization Expense for Future Years (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Fiscal 2020	$ 42,079
Fiscal 2021	41,635
Fiscal 2022	40,326
Fiscal 2023	37,300
Fiscal 2024	34,183
Thereafter	342,673
Total	$ 538,196	$ 580,233

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($)		Oct. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Sep. 30, 2019	Jun. 30, 2019	Nov. 30, 2014
Debt Instrument [Line Items]
Unamortized debt issuance costs				$ 660,000	$ 19,656,000	$ 29,170,000
Interest expense to amortize deferred financing costs				$ 16,331,000	5,085,000	3,174,000	$ 1,665,000
Third party fees			$ 730,000
Deferred fees			10,000
Deferred Debt Issuance costs			185,000		186,000	660,000
Property, plant and equipment capital leases					42,710,000	49,640,000
Accumulated depreciation related to capital leases					$ 6,336,000	9,841,000
Expensed Third Party Fees Modification			$ 720,000
Senior Unsecured Bridge Facility
Debt Instrument [Line Items]
Commitment fees						4,587,000
Credit Agreement | Revolving Credit Facility | Scenario Forecast
Debt Instrument [Line Items]
Maximum consolidated secured net leverage ratio								425.00%	450.00%
Credit Agreement | Revolving Credit Facility | Constantia Labels
Debt Instrument [Line Items]
Aggregate commitment amount		$ 400,000,000
Maturity period		5 years
Credit Agreement | Term Loan A Facility, mature October 31, 2022
Debt Instrument [Line Items]
Debt instrument, maturity date					Oct. 31, 2022
Unamortized debt issuance costs	[1]				$ 3,125,000	3,996,000
Credit Agreement | Term Loan A Facility, mature October 31, 2022 | Constantia Labels
Debt Instrument [Line Items]
Aggregate commitment amount		$ 150,000,000
Maturity period		5 years
Credit Agreement | Term Loan B Facility, mature October 31, 2024
Debt Instrument [Line Items]
Debt instrument, maturity date					Oct. 31, 2024
Unamortized debt issuance costs	[2]				$ 5,165,000	6,280,000
Credit Agreement | Term Loan B Facility, mature October 31, 2024 | Constantia Labels
Debt Instrument [Line Items]
Aggregate commitment amount		$ 500,000,000
Maturity period		7 years
Credit Agreement | U.S. Revolving Credit Facility
Debt Instrument [Line Items]
Available borrowings					$ 354,241,000
Debt instrument, maturity date					Oct. 31, 2022
Unamortized debt issuance costs	[3],[4]				$ 0	5,442,000
Credit Agreement | U.S. Revolving Credit Facility | Constantia Labels
Debt Instrument [Line Items]
Aggregate commitment amount		$ 360,000,000
Credit Agreement | Australian Revolving Sub-Facility
Debt Instrument [Line Items]
Available borrowings					$ 4,023,000
Debt instrument, maturity date					Oct. 31, 2022
Unamortized debt issuance costs	[3]				$ 473,000	605,000
Credit Agreement | Australian Revolving Sub-Facility | Constantia Labels
Debt Instrument [Line Items]
Aggregate commitment amount		40,000,000
Credit Agreement | Various Uncommitted Lines of Credit
Debt Instrument [Line Items]
Available borrowings					23,625,000
Senior Notes | 4.875% Notes, due November 1, 2025
Debt Instrument [Line Items]
Fair value of Notes					$ 616,500,000	564,000,000
Debt instrument, interest rate					4.875%
Aggregate principal amount		600,000,000
Debt instrument, interest payment description					Interest is payable on the 4.875% Senior Notes on May 1st and November 1st of each year beginning May 1, 2018 until the maturity date of November 1, 2025.
Debt instrument, maturity date					Nov. 1, 2025
Debt issuance costs		$ 10,338,000
Unamortized debt issuance costs	[5]				$ 8,420,000	9,699,000
Senior Notes | 4.875% Notes, due November 1, 2025 | Constantia Labels
Debt Instrument [Line Items]
Debt instrument, interest rate		4.875%		4.875%
Debt instrument, maturity date		Nov. 1, 2025
Senior Notes | 6.125% Notes, due December 1, 2022
Debt Instrument [Line Items]
Fair value of Notes					$ 257,188,000	258,750,000
Debt instrument, interest rate					6.125%
Debt instrument, maturity date					Dec. 1, 2022
Unamortized debt issuance costs	[5]				$ 2,473,000	$ 3,148,000
Senior Notes | 6.125% Notes, due December 1, 2022 | Constantia Labels
Debt Instrument [Line Items]
Debt instrument, interest rate					6.125%
Aggregate principal amount										$ 250,000,000
Debt instrument, interest payment description					Interest is payable on the 6.125% Senior Notes on June 1st and December 1st of each year beginning June 1, 2015 until the maturity date of December 1, 2022.
Debt instrument, maturity date					Dec. 1, 2022
Minimum
Debt Instrument [Line Items]
Capital lease, interest rates					0.97%
Maximum
Debt Instrument [Line Items]
Capital lease, interest rates					12.25%
[1]	The Company is required to make mandatory principal payments on the outstanding borrowings under the Term Loan A Facility. The principal payments are due on the last day of March, June, September and December of each year, commencing on March 31, 2018 through the maturity date of October 31, 2022.
[2]	The Company is required to make mandatory principal payments on the outstanding borrowings under the Term Loan B Facility. The principal payments are due on the last day of March, June, September and December of each year, commencing on March 31, 2018 through the maturity date of October 31, 2024.
[3]	Borrowings under the U.S. Revolving Credit Facility and Australian Revolving Sub-Facility mature on October 31, 2022.
[4]	Unamortized debt issuance costs related to the U.S. Revolving Credit Facility were reclassified to prepaid expenses and other long-term assets in the consolidated balance sheet as of March 31, 2019, as there are no borrowings outstanding on the U.S. Revolving Credit Facility as of March 31, 2019.
[5]	The 6.125% Senior Notes are due on December 1, 2022. The 4.875% Senior Notes are due on November 1, 2025.

Debt - Components of Debt (Deta

Debt - Components of Debt (Detail) - USD ($) $ in Thousands		Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Principal		$ 1,557,009	$ 1,627,855
Unamortized Debt Issuance Costs		(19,656)	(29,170)	$ (660)
Less current portion of debt		(23,059)	(20,864)
Debt Less Unamortized Debt Issuance Costs		1,537,353	1,598,685
Total long-term debt, Principal		1,533,950	1,606,991
Less current portion of debt, Debt Less Unamortized Debt Issuance Costs		(23,059)	(20,864)
Total long-term debt, Debt Less Unamortized Debt Issuance Costs		1,514,294	1,577,821
Credit Agreement | Term Loan A Facility, mature October 31, 2022
Debt Instrument [Line Items]
Principal	[1]	135,625	148,125
Unamortized Debt Issuance Costs	[1]	(3,125)	(3,996)
Debt Less Unamortized Debt Issuance Costs	[1]	132,500	144,129
Credit Agreement | Term Loan B Facility, mature October 31, 2024
Debt Instrument [Line Items]
Principal	[2]	493,750	498,750
Unamortized Debt Issuance Costs	[2]	(5,165)	(6,280)
Debt Less Unamortized Debt Issuance Costs	[2]	488,585	492,470
Credit Agreement | U.S. Revolving Credit Facility
Debt Instrument [Line Items]
Principal	[3],[4]	0	56,945
Unamortized Debt Issuance Costs	[3],[4]	0	(5,442)
Debt Less Unamortized Debt Issuance Costs	[3],[4]	0	51,503
Credit Agreement | Australian Revolving Sub-Facility
Debt Instrument [Line Items]
Principal	[3]	35,977	33,033
Unamortized Debt Issuance Costs	[3]	(473)	(605)
Debt Less Unamortized Debt Issuance Costs	[3]	35,504	32,428
Senior Notes | 6.125% Notes, due December 1, 2022
Debt Instrument [Line Items]
Principal	[5]	250,000	250,000
Unamortized Debt Issuance Costs	[5]	(2,473)	(3,148)
Debt Less Unamortized Debt Issuance Costs	[5]	247,527	246,852
Senior Notes | 4.875% Notes, due November 1, 2025
Debt Instrument [Line Items]
Principal	[5]	600,000	600,000
Unamortized Debt Issuance Costs	[5]	(8,420)	(9,699)
Debt Less Unamortized Debt Issuance Costs	[5]	591,580	590,301
Capital Leases
Debt Instrument [Line Items]
Principal		36,255	36,288
Unamortized Debt Issuance Costs		0
Debt Less Unamortized Debt Issuance Costs		36,255	36,288
Other Subsidiary Debt
Debt Instrument [Line Items]
Principal		5,402	4,714
Unamortized Debt Issuance Costs		0
Debt Less Unamortized Debt Issuance Costs		$ 5,402	$ 4,714
[1]	The Company is required to make mandatory principal payments on the outstanding borrowings under the Term Loan A Facility. The principal payments are due on the last day of March, June, September and December of each year, commencing on March 31, 2018 through the maturity date of October 31, 2022.
[2]	The Company is required to make mandatory principal payments on the outstanding borrowings under the Term Loan B Facility. The principal payments are due on the last day of March, June, September and December of each year, commencing on March 31, 2018 through the maturity date of October 31, 2024.
[3]	Borrowings under the U.S. Revolving Credit Facility and Australian Revolving Sub-Facility mature on October 31, 2022.
[4]	Unamortized debt issuance costs related to the U.S. Revolving Credit Facility were reclassified to prepaid expenses and other long-term assets in the consolidated balance sheet as of March 31, 2019, as there are no borrowings outstanding on the U.S. Revolving Credit Facility as of March 31, 2019.
[5]	The 6.125% Senior Notes are due on December 1, 2022. The 4.875% Senior Notes are due on November 1, 2025.

Debt - Components of Debt (Pare

Debt - Components of Debt (Parenthetical) (Detail)	12 Months Ended
	Mar. 31, 2019
6.125% Notes, due December 1, 2022 | Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	6.125%
Debt instrument, maturity date	Dec. 1, 2022
4.875% Notes, due November 1, 2025 | Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate	4.875%
Debt instrument, maturity date	Nov. 1, 2025
Term Loan A Facility, mature October 31, 2022 | Credit Agreement
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 31, 2022
Term Loan B Facility, mature October 31, 2024 | Credit Agreement
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 31, 2024
U.S. Revolving Credit Facility | Credit Agreement
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 31, 2022
Australian Revolving Sub-Facility | Credit Agreement
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 31, 2022

Debt - Schedule of Future Annua

Debt - Schedule of Future Annual Principal Payments (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Debt Instrument [Line Items]
Fiscal 2020	$ 23,059
Fiscal 2021	21,330
Fiscal 2022	25,112
Fiscal 2023	392,083
Fiscal 2024	7,635
Thereafter	1,087,790
Total	1,557,009	$ 1,627,855
Debt
Debt Instrument [Line Items]
Fiscal 2020	18,509
Fiscal 2021	17,331
Fiscal 2022	22,005
Fiscal 2023	389,158
Fiscal 2024	5,000
Thereafter	1,068,751
Total	1,520,754
Capital Leases
Debt Instrument [Line Items]
Fiscal 2020	4,550
Fiscal 2021	3,999
Fiscal 2022	3,107
Fiscal 2023	2,925
Fiscal 2024	2,635
Thereafter	19,039
Total	$ 36,255	$ 36,288

Debt - Schedule of Weighted Ave

Debt - Schedule of Weighted Average Interest Rates (Detail) - Credit Agreement	Mar. 31, 2019	Mar. 31, 2018
Term Loan A Facility, mature October 31, 2022
Debt Instrument [Line Items]
Weighted average interest rates	4.50%	4.13%
Term Loan B Facility, mature October 31, 2024
Debt Instrument [Line Items]
Weighted average interest rates	4.50%	4.13%
U.S. Revolving Credit Facility
Debt Instrument [Line Items]
Weighted average interest rates		4.42%
Australian Revolving Sub-Facility
Debt Instrument [Line Items]
Weighted average interest rates	3.85%	4.13%

Debt - Net Minimum Payments on

Debt - Net Minimum Payments on Capitalized Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Capital Leases, Future Minimum Payments, Net Present Value [Abstract]
Total minimum lease payments	$ 44,688	$ 49,521
Less amount representing interest	(8,433)	(13,233)
Present value of net minimum lease payments	36,255	36,288
Current portion	(4,550)	(4,191)
Capitalized lease obligations, less current portion	$ 31,705	$ 32,097

Risk Management Activities an_3

Risk Management Activities and Financial Instruments - Additional Information (Detail) € in Thousands, $ in Thousands	1 Months Ended	12 Months Ended
	Sep. 30, 2017EUR (€)Derivative	Mar. 31, 2019USD ($)Derivative	Nov. 30, 2017EUR (€)
Credit Agreement
Derivative [Line Items]
Number of derivative instruments | Derivative		2
Notional amount | $		$ 300,000
Effective date of swaps		2018-10
Swap expiration date		2022-10
Fixed interest rate on swaps		2.1345%
Interest Rate Swaps
Derivative [Line Items]
Number of derivative instruments | Derivative		3
Notional amount | $		$ 125,000
Effective date of swaps		2012-10
Swap expiration date		2016-08
Fixed interest rate on swaps		1.396%
Cross Currency Swaps
Derivative [Line Items]
Number of derivative instruments | Derivative	4
Notional amount | €	€ 400,000
Maturity date	2025-11
Cross Currency Swaps | Net Investment Hedges
Derivative [Line Items]
Notional amount | €			€ 400,000
Cross Currency Swaps | Derivatives not designated as hedging instruments
Derivative [Line Items]
Notional amount | €	€ 195,000
Cross Currency Swaps | Derivatives designated as hedging instruments | Net Investment Hedges
Derivative [Line Items]
Notional amount | €	€ 205,000		€ 195,000
Interest Rate Swap Agreements | Credit Agreement
Derivative [Line Items]
Number of derivative instruments | Derivative		2
Notional amount | $		$ 300,000
Effective date of swaps		2017-10
Swap expiration date		2018-10
Fixed interest rate on swaps		1.5625%
May Two Thousand Nineteen Swap Agreement | Credit Agreement
Derivative [Line Items]
Notional amount | $		$ 100,000
Effective date of swaps		2019-05
Swap expiration date		2022-10
Fixed interest rate on swaps		2.806%

Risk Management Activities an_4

Risk Management Activities and Financial Instruments - Summary of Fair Value of Qualifying and Non-qualifying Instruments Used in Hedging Transactions (Detail) - Fair Value Inputs Level 2 - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Derivatives designated as hedging instruments | Net Investment Hedges | Cross Currency Swaps | Other current assets
Derivatives, Fair Value [Line Items]
Derivative assets	$ 5,127	$ 4,295
Derivatives designated as hedging instruments | Net Investment Hedges | Cross Currency Swaps | Other long-term liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	1,563	50,019
Derivatives designated as hedging instruments | Cash Flow Hedges | Interest Rate Swaps | Other current assets
Derivatives, Fair Value [Line Items]
Derivative assets	743	920
Derivatives designated as hedging instruments | Cash Flow Hedges | Interest Rate Swaps | Other long-term assets
Derivatives, Fair Value [Line Items]
Derivative assets		4,956
Derivatives designated as hedging instruments | Cash Flow Hedges | Interest Rate Swaps | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	377
Derivatives designated as hedging instruments | Cash Flow Hedges | Interest Rate Swaps | Other long-term liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	2,353
Derivatives designated as hedging instruments | Cash Flow Hedges | Foreign Currency Forward Contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative assets	5	0
Derivatives designated as hedging instruments | Cash Flow Hedges | Foreign Currency Forward Contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	345
Derivatives designated as hedging instruments | Fair Value Hedges | Foreign Currency Forward Contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative assets		127
Derivatives designated as hedging instruments | Fair Value Hedges | Foreign Currency Forward Contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	234	190
Derivatives not designated as hedging instruments | Foreign Currency Forward Contracts | Other current assets
Derivatives, Fair Value [Line Items]
Derivative assets	26
Derivatives not designated as hedging instruments | Foreign Currency Forward Contracts | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative Liabilities	$ 30	$ 127

Risk Management Activities an_5

Risk Management Activities and Financial Instruments - Amounts of Gains and (Losses) Recognized in AOCI Net of Reclassifications Into Earnings (Detail) - Derivatives designated as hedging instruments - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Cross Currency Swaps | Net Investment Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, amounts of gains and (losses) recognized in AOCI net of reclassifications into earnings		$ 36,545
Cross Currency Swaps | Net Investment Hedges | Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, amounts of gains and (losses) recognized in AOCI net of reclassifications into earnings	[1]	36,545	$ (29,667)
Interest Rate Swaps | Cash Flow Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, amounts of gains and (losses) recognized in AOCI net of reclassifications into earnings		(6,111)	$ 4,259
Foreign Exchange Forward | Other Comprehensive Income
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, amounts of gains and (losses) recognized in AOCI net of reclassifications into earnings		$ (527)
[1]	The net gain of $36,545 recognized in OCI on the cross currency swaps in a net investment hedge as of March 31, 2019 is comprised of an excluded component gain of $4,833 and an undiscounted spot gain of $43,480, net of tax of $(11,768).

Risk Management Activities an_6

Risk Management Activities and Financial Instruments - Amounts of Gains and (Losses) Recognized in AOCI Net of Reclassifications Into Earnings (Parenthetical) (Detail) $ in Thousands	12 Months Ended
	Mar. 31, 2019USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, excluded component gain (loss)	$ (11,768,000)
Cross Currency Swaps | Net Investment Hedges | Derivatives designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, excluded component gain (loss)	4,833
Derivative instruments, amount of gain (loss) recognized in AOCI	36,545
Cross Currency Spot Swaps | Net Investment Hedges | Derivatives designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, amount of gain (loss) recognized in AOCI	$ 43,480

Risk Management Activities an_7

Risk Management Activities and Financial Instruments - Amounts of Gains and (Losses) Reclassified from AOCI into Earnings (Detail) - Cash Flow Hedging - USD ($) $ in Thousands		12 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Cross Currency Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, amounts of gains and (losses) reclassified from AOCI into earnings	[1]	$ 5,226	$ 4,234
Interest Rate Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, amounts of gains and (losses) reclassified from AOCI into earnings	[2]	674	$ (101)
Foreign exchange forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, amounts of gains and (losses) reclassified from AOCI into earnings	[2]	$ (588)
[1]	The Company had a $5,226 excluded component gain in AOCI which was recognized into income during the twelve months ended March 31, 2019.
[2]	During the next 12 months, $26 of gains included in the March 31, 2019 AOCI balance are expected to be reclassified into interest expense.

Risk Management Activities an_8

Risk Management Activities and Financial Instruments - Amounts of Gains and (Losses) Reclassified from AOCI into Earnings (Parenthetical) (Detail) - Cash Flow Hedging $ in Thousands	12 Months Ended
	Mar. 31, 2019USD ($)
Cross Currency Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Excluded component gain in AOCI which was recognized into income	$ 5,226
Interest Rate Swaps | Interest expense
Derivative Instruments, Gain (Loss) [Line Items]
Derivative instruments, gains and (losses) expected to be reclassified from AOCI into interest expense	$ 26

Risk Management Activities an_9

Risk Management Activities and Financial Instruments - Amounts of Gains and (Losses) Included in Earnings from Qualifying and Non-qualifying Financial Instruments used in Hedging Transactions (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Other income (expense), net | Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on underlying hedged items	$ (5,340)	$ 6,510
Other income (expense), net | Derivatives not designated as hedging instruments | Foreign Currency Forward Contracts
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives	6,161	(7,198)
Other income (expense), net | Derivatives not designated as hedging instruments | Foreign Currency Forward Contracts | Constantia Labels
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives		8,109
Other income (expense), net | Derivatives designated as hedging instruments
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on underlying hedged items	46	245
Other income (expense), net | Derivatives designated as hedging instruments | Foreign Currency Forward Contracts | Fair Value Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives	(46)	(245)
Interest expense | Derivatives not designated as hedging instruments | Cross Currency Swaps
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) on derivatives	$ 976	$ (4,018)

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities - Summary of Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Accrued Liabilities and Other Liabilities [Abstract]
Accrued payroll and benefits	$ 41,441	$ 45,418
Accrued income taxes	6,632	13,838
Professional fees	4,534	1,965
Accrued taxes other than income taxes	1,671	4,682
Accrued interest	13,746	16,480
Customer rebates	3,750	2,578
Exit and disposal costs related to facility closures	210	457
Deferred payments	1,881	9,735
Deferred revenue	10,654	11,887
Derivative liabilities	986	317
Other	9,234	6,665
Total accrued expenses and other liabilities	$ 94,739	$ 114,022

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail) $ in Thousands	12 Months Ended
	Mar. 31, 2019USD ($)Age	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)
Defined Benefit Plan Disclosure [Line Items]
Contributions to retirement savings plan	$ 10,194	$ 7,217	$ 5,189
Australian Employees Retirement Savings Plan
Defined Benefit Plan Disclosure [Line Items]
Percentage of contributions to retirement savings plan	9.00%
Munden Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost	$ 18	47
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Normal retirement age | Age	65
Benefits paid	$ 1,071	1,008
Plan assets	632	498
Unfunded obligation	439	510
Non-U.S. Plans
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost	10	56	$ 145
Benefits paid	3,028	3,075
Plan assets	2,958	3,037
Unfunded obligation	$ 70	$ 38

Income Taxes - Schedule of Earn

Income Taxes - Schedule of Earnings before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest [Abstract]
U.S.	$ 29,964	$ 6,848	$ 65,113
Foreign	(46,299)	46,854	23,100
Income (loss) before income taxes	$ (16,335)	$ 53,702	$ 88,213

Income Taxes - Schedule of Prov

Income Taxes - Schedule of Provision (Benefit) for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Current:
Federal	$ 420	$ 2,783	$ 16,889
State and local	2,306	611	2,498
Foreign	15,069	20,641	9,298
Total Current	17,795	24,035	28,685
Deferred:
Federal	2,438	(18,406)	987
State and local	(1,764)	70	(147)
Foreign	(6,137)	(23,894)	(2,677)
Total Deferred	(5,463)	(42,230)	(1,837)
Total	$ 12,332	$ (18,195)	$ 26,848

Income Taxes - Schedule of Reco

Income Taxes - Schedule of Reconciliation between U.S. Statutory Federal Income Tax Rate and Effective Tax Rate (Detail)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Effective Income Tax Rate Reconciliation, Percent [Abstract]
U.S. federal statutory rate	21.00%	31.50%	35.00%
State and local income taxes, net of federal income tax benefit	(1.90%)	0.40%	1.70%
Section 199 deduction			(1.80%)
Foreign derived intangible income deduction	4.80%
International rate differential	45.10%	(5.10%)	(3.30%)
Unrecognized tax benefits	19.40%	0.60%	(0.90%)
Foreign permanent differences	3.30%	(1.10%)	(2.10%)
Non-deductible transaction costs	(8.30%)	4.20%	0.20%
Valuation allowances	(3.60%)	2.00%	1.20%
U.S. Repatriation Tax	3.20%	5.70%
Goodwill impairment	(176.60%)
Share-based Compensation	1.40%	(2.50%)
Tax Rate Changes	18.00%	(70.80%)
U.S. Research & Development Credit	6.60%	(1.50%)	(0.80%)
Other foreign taxes	(6.90%)	1.60%	0.80%
Other	(1.00%)	1.10%	0.40%
Effective tax rate	(75.50%)	(33.90%)	30.40%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Income Tax Contingency [Line Items]
Statutory federal tax rate	21.00%	31.50%	35.00%
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Provisional Income Tax Expense (Benefit)	$ 383	$ 18,268
Estimated repatriation tax charge		3,075
Provisional valuation allowance on certain interest expense carryforwards		21,343
Repatriation Tax Payable Period	8 years
Net deferred tax benefit due to rate change	$ (5,463)	(42,230)	$ (1,837)
Excess tax benefit from stock-based compensation			1,258
Federal operating loss carryforwards	18,552	1,014
State operating loss carryforwards	1,516	1,922
Foreign operating loss carryforwards	34,255	22,174
Valuation allowance	31,702	16,870
Liabilities for unrecognized tax benefits	5,846	7,038	$ 5,665
Interest and penalties recognized to income tax expense	1,672	120
Liability for interest and penalties	1,408	2,641
Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations Including Interest And Penalties	5,251
Reasonably possible unrecognized tax benefits within next 12 months	2,068
Amount of unrecognized tax benefits that would favorably impact effective tax rate	5,453
Deferred tax for undistributed earnings of non-U.S. subsidiaries	1,189
Deferred Tax Benefit Rate Change [Member]
Income Tax Contingency [Line Items]
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Provisional Income Tax Expense (Benefit)	822
Administration of the Treasury, Belgium
Income Tax Contingency [Line Items]
Net deferred tax benefit due to rate change	2,268	15,164
Accounting Standards Update 2016-09
Income Tax Contingency [Line Items]
Excess tax benefit from stock-based compensation	227	1,462
Adjustments to the IRC 965 Transition Tax [Member]
Income Tax Contingency [Line Items]
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Provisional Income Tax Expense (Benefit)	528
Adjustments Due to Change in Indefinite Reinvestment Assertion [Member]
Income Tax Contingency [Line Items]
Tax Cuts and Jobs Act of 2017, Incomplete Accounting, Provisional Income Tax Expense (Benefit)	967
Business Combinations
Income Tax Contingency [Line Items]
Federal operating loss carryforwards	$ 0
Minimum
Income Tax Contingency [Line Items]
Statutes Of Limitation Range	3 years
Maximum
Income Tax Contingency [Line Items]
Statutes Of Limitation Range	4 years
Foreign Tax Authority
Income Tax Contingency [Line Items]
Valuation allowance	$ 31,247	$ 16,454
Foreign Tax Authority | Earliest Tax Year
Income Tax Contingency [Line Items]
Year before which the Company is no longer subject to income tax examination	1999
Foreign Tax Authority | Minimum
Income Tax Contingency [Line Items]
Expiration of operating loss carryforwards	Mar. 31, 2021
Foreign Tax Authority | Maximum
Income Tax Contingency [Line Items]
Expiration of operating loss carryforwards	Mar. 31, 2038
Domestic Tax Authority
Income Tax Contingency [Line Items]
Expiration of operating loss carryforwards	Mar. 31, 2037
Domestic Tax Authority | Earliest Tax Year
Income Tax Contingency [Line Items]
Year before which the Company is no longer subject to income tax examination	2016
State and Local Jurisdiction | Earliest Tax Year
Income Tax Contingency [Line Items]
Year before which the Company is no longer subject to income tax examination	2015
State and Local Jurisdiction | Minimum
Income Tax Contingency [Line Items]
Expiration of operating loss carryforwards	Mar. 31, 2020
State and Local Jurisdiction | Maximum
Income Tax Contingency [Line Items]
Expiration of operating loss carryforwards	Mar. 31, 2038

Income Taxes - Schedule of Net

Income Taxes - Schedule of Net Deferred Tax Components (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Deferred tax liabilities:
Book basis over tax basis of fixed assets	$ (58,169)	$ (44,717)
Book basis over tax basis of intangible assets	(128,273)	(135,432)
Interest rate swap	(406)
Deferred financing costs	(16)	(297)
Other	(5,766)	(6,370)
Total deferred tax liabilities	(192,630)	(186,816)
Deferred tax assets:
Inventory reserves	2,165	925
Interest expense carryforwards	10,674
Inventory capitalization	343	809
Allowance for doubtful accounts	201	242
Stock based compensation expense	1,307	1,305
Minimum pension liability	524	546
Loss carry forward amounts	35,771	25,110
Credit carry forward amounts	963	2,007
Interest rate swaps		9,306
State basis over tax basis of fixed assets	1,554	667
Non-deductible accruals and other	8,491	10,148
Deferred compensation	234	699
Lease obligations	6,169	4,799
Gross deferred tax asset	68,396	56,563
Valuation allowance	(31,702)	(16,870)
Net deferred tax asset	36,694	39,693
Net deferred tax liability	$ (155,936)	$ (147,123)

Income Taxes - Summary of Activ

Income Taxes - Summary of Activity for Company's Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Beginning balance	$ 7,038	$ 5,665
Additions based on tax positions related to the current year	616	1,843
Additions of tax positions of prior years	1,870	833
Settlements	(146)	(1,358)
Reductions of tax positions of prior years	(233)	(44)
Lapse of applicable statutes of limitations	(3,059)	(345)
Currency translation	(240)	444
Ending balance	$ 5,846	$ 7,038

Major Customers - Additional In

Major Customers - Additional Information (Detail) - Customer Concentration Risk - Procter And Gamble Company	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Sales Revenue, Net
Concentration Risk [Line Items]
Percentage from major customers	10.00%	14.00%	17.00%
Accounts Receivable
Concentration Risk [Line Items]
Percentage from major customers	2.00%	3.00%

Earnings Per Common Share - Add

Earnings Per Common Share - Additional Information (Detail) - shares shares in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Anti-dilutive shares	386	94	172

Earnings Per Common Share - Rec

Earnings Per Common Share - Reconciliation of Number of Shares Used in Basic and Diluted Earnings Per Share Computations (Detail) - $ / shares shares in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Basic EPS, Shares									20,468	18,421	16,879
Effect of dilutive securities, Shares									0	162	145
Diluted EPS, Share									20,468	18,583	17,024
Basic EPS, Per Share Amount	$ (4.01)	$ 0.55	$ 1.16	$ 0.89	$ 1.08	$ 1.06	$ 0.89	$ 0.83	$ (1.42)	$ 3.91	$ 3.61
Effect of dilutive securities, Per Share Amount									0	(0.04)	(0.03)
Diluted EPS, Per Share Amount	$ (4.01)	$ 0.55	$ 1.16	$ 0.88	$ 1.08	$ 1.06	$ 0.88	$ 0.82	$ (1.42)	$ 3.87	$ 3.58

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock remained reserved for future issuance	894
Stock-based incentive awards, associated tax benefit	$ 475	$ 898	$ 943
Cash received from options exercised	1,556	2,572	2,742
Selling, General and Administrative Expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax compensation expense	1,685	2,489	2,064
Cost of revenues
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax compensation expense	813	967	978
Stock Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax compensation expense	$ 2,498	$ 3,456	$ 3,042
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Nonvested options, compensation cost not yet recognized	$ 3,474
Nonvested stock options, weighted average period	2 years 10 months 24 days
Weighted average grant-date fair value of options granted	$ 22.67	$ 27.98	$ 22.72
Cash received from options exercised	$ 1,556
Grant-date fair value of options vested	$ 2,162	$ 1,800	$ 2,062
Stock Options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options, expiration period	10 years
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested stock options, weighted average period	2 years
Nonvested restricted shares, compensation cost not yet recognized	$ 1,204
Grant-date fair value of restricted shares vested	$ 472	$ 665	$ 720
Restricted Stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Restricted Stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Nonvested stock options, weighted average period	2 years 2 months 12 days
Nonvested restricted shares, compensation cost not yet recognized	$ 739

Stock-Based Compensation - Weig

Stock-Based Compensation - Weighted Average Assumptions (Detail)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected life (years)	5 years 7 months 6 days	5 years 8 months 12 days	5 years 9 months 18 days
Risk-free interest rate	2.80%	1.80%	1.20%
Expected volatility	29.50%	32.40%	38.90%
Dividend yield	0.30%	0.30%	0.30%

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Changes in Options Outstanding (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Options Outstanding, Beginning Balance	466	471	600
Options, Granted	45	119	32
Options, Exercised	(76)	(110)	(136)
Options, Forfeited	(18)	(14)	(25)
Options Outstanding, Ending Balance	417	466	471
Options Exercisable, Ending Balance	203	186
Weighted Average Exercise Price, Outstanding, Beginning Balance	$ 53.10	$ 38.84	$ 34.50
Weighted Average Exercise Price, Granted	70.77	85.38	61.62
Weighted Average Exercise Price, Exercised	27.80	26.60	24.52
Weighted Average Exercise Price, Forfeited	64.86	57.10	41.66
Weighted Average Exercise Price, Outstanding, Ending Balance	59.09	53.10	$ 38.84
Weighted Average Exercise Price, Exercisable, Ending Balance	$ 45.86	$ 33.72
Weighted Average Remaining Life (Years), Outstanding, Ending Balance	6 years 4 months 24 days
Weighted Average Remaining Life (Years), Exercisable, Ending Balance	5 years	5 years
Aggregate Intrinsic Value, Exercised	$ 2,403	$ 5,990	$ 5,664
Aggregate Intrinsic Value, Outstanding, Ending Balance	2,693
Aggregate Intrinsic Value, Exercisable, Ending Balance	$ 2,498	$ 6,024

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Changes in Restricted Shares (Detail) - Restricted Stock - $ / shares shares in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Beginning Balance	13	17	25
Shares, Granted	19	9	8
Shares, Vested	(7)	(10)	(15)
Shares, Forfeited	0	(3)	(1)
Shares, Ending Balance	25	13	17
Weighted Average Grant Date Fair Value, Beginning Balance	$ 76.17	$ 62.72	$ 55.99
Weighted Average Grant Date Fair Value, Granted	64.72	85.17	64.50
Weighted Average Grant Date Fair Value, Vested	72.88	63.46	51.67
Weighted Average Grant Date Fair Value, Forfeited	0	72.47	64.05
Weighted Average Grant Date Fair Value, Ending Balance	$ 68.32	$ 76.17	$ 62.72

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Changes in Restricted Share Units (Detail) - Restricted Stock Units (RSUs) - $ / shares	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares, Beginning Balance	36,000	59,000	42,000
Shares, Granted	46,000	19,000	35,000
Shares, Forfeited	(12,000)	(30,000)	(18,000)
Vested	(10,000)	(12,000)
Shares, Ending Balance	60,000	36,000	59,000
Weighted Average Grant Date Fair Value, Beginning Balance	$ 70.73	$ 62.80	$ 64.05
Weighted Average Grant Date Fair Value, Granted	66.62	85.90	61.19
Weighted Average Grant Date Fair Value, Forfeited	$ 61.19	$ 67.51	62.59
Vested	61,190	64,050
Weighted Average Grant Date Fair Value, Ending Balance	$ 71.09	$ 70.73	$ 62.80

Geographic Information - Summar

Geographic Information - Summary of Net Revenues and Long-lived Assets Based on Geographic Area (Detail) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
		Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues		$ 437,506	$ 397,004	$ 434,913	$ 456,131	$ 449,739	$ 352,699	$ 256,034	$ 242,440	$ 1,725,554	$ 1,300,912	$ 923,295
Long-lived assets		2,051,572				2,298,966				2,051,572	2,298,966
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues										660,275	584,458	511,551
Long-lived assets		584,274				649,413				584,274	649,413
Belgium
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues										152,242	67,035
Long-lived assets	[1]	408,171				(7,455)				408,171	(7,455)
Germany
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues										132,973	62,184
Long-lived assets		252,533				878,106				252,533	878,106
Other International
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues										780,064	587,235	$ 411,744
Long-lived assets		$ 806,594				$ 778,902				$ 806,594	$ 778,902
[1]	We allocate goodwill to our foreign and domestic locations. In fiscal 2018, negative goodwill associated with the acquisition of Constantia Labels was allocated to our plant in Belgium, as the final goodwill allocation was not complete.

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Lease expiration period	2032-03	2032-03
Operating leases rent expense	$ 24,380	$ 17,953	$ 12,767
Total estimated purchase obligations	$ 36,414

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Annual Future Minimum Rental Obligations (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Commitments and Contingencies Disclosure [Abstract]
Fiscal 2020	$ 22,595
Fiscal 2021	19,569
Fiscal 2022	17,297
Fiscal 2023	13,168
Fiscal 2024	7,585
Thereafter	15,877
Total	$ 96,091

Supplemental Cash Flow Disclo_3

Supplemental Cash Flow Disclosures - Supplemental Disclosures of Cash Flow Information and Non-Cash Activities (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Oct. 31, 2017
Supplemental Disclosures of Cash Flow Information:
Interest paid	$ 81,613	$ 32,844	$ 23,672
Income taxes paid, net of refunds	28,514	30,305	21,143
Supplemental Disclosures of Non-Cash Activities:
Additional minimum pension liability	37	(55)	(282)
Capital expenditures incurred but not yet paid	5,958	9,958	3,323
Capital lease obligations incurred	1,882		864
Change in derivative contract fair value - asset position	(4,397)	10,298
Change in derivative contract fair value - liability position	45,434	(50,336)	225
Business combinations accounted for as a purchase:
Assets acquired (excluding cash)	16,233	1,612,925	45,328
Liabilities assumed	(15,033)	(335,648)	(16,669)
Liabilities for contingent / deferred payments		(13,713)	242
MCC common stock issued		(237,820)
Noncontrolling interest	$ (1,200)	(1,100)	(62)	$ (2,300)
Net cash paid		$ 1,024,644	$ 28,839

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Schedule of Changes in Accumulated Other Comprehensive Loss by Component (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	$ 757,557
Ending balance	625,985	$ 757,557
Foreign currency items
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	6,335	(85,593)
OCI before reclassifications	(135,054)	91,928
Total other comprehensive income (loss)	(135,054)	91,928
ASU 2018-02 reclassifications of stranded tax effects	(244)
Ending balance	(128,963)	6,335
Gains and (losses) on derivative contracts
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(25,408)
OCI before reclassifications	33,894	(22,635)
Amounts reclassified from AOCI	3,987	(2,773)
Total other comprehensive income (loss)	29,907	(25,408)
ASU 2018-02 reclassifications of stranded tax effects	(1,506)
Ending balance	2,993	(25,408)
Defined benefit pension items
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(168)	(202)
OCI before reclassifications	(32)	3
Amounts reclassified from AOCI	4	31
Total other comprehensive income (loss)	(28)	34
Ending balance	(196)	(168)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning balance	(19,241)	(85,795)
OCI before reclassifications	(101,192)	69,296
Amounts reclassified from AOCI	(3,983)	(2,742)
Total other comprehensive income (loss)	(105,175)	66,554
ASU 2018-02 reclassifications of stranded tax effects	(1,750)
Ending balance	$ (126,166)	$ (19,241)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Schedule of Changes in Accumulated Other Comprehensive Loss by Component (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Gains and (losses) on derivative contracts
Accumulated Other Comprehensive Income (Loss) [Line Items]
Gains and losses on defined benefit pension and postretirement, tax	$ (11,351)	$ 9,063
Defined benefit pension items
Accumulated Other Comprehensive Income (Loss) [Line Items]
Gains and losses on defined benefit pension and postretirement, tax	$ 11	$ (1)

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Loss - Reclassifications out of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands

3 Months Ended

12 Months Ended

Mar. 31, 2019

Dec. 31, 2018

Sep. 30, 2018

Jun. 30, 2018

Mar. 31, 2018

Dec. 31, 2017

Sep. 30, 2017

Jun. 30, 2017

Mar. 31, 2019

Mar. 31, 2018

Mar. 31, 2017

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Income tax (expense) benefit

$ (12,332)

$ 18,195

$ (26,848)

Net income (loss) attributable to Multi-Color Corporation

$ (82,221)

$ 11,286

$ 23,755

$ 18,139

$ 22,123

$ 20,532

$ 15,190

$ 14,106

(29,041)

71,951

$ 60,996

Gains and (losses) on derivative contracts

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Amounts reclassified from AOCI

(3,987)

2,773

Defined benefit pension items

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Amounts reclassified from AOCI

(4)

(31)

Gains and (losses) reclassified from AOCI

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Net income (loss) attributable to Multi-Color Corporation

(3,983)

(2,742)

Gains and (losses) reclassified from AOCI | Gains and (losses) on derivative contracts

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Amounts reclassified from AOCI, tax

1,325

1,360

Gains and (losses) reclassified from AOCI | Gains and (losses) on derivative contracts | Cross Currency Swaps

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Amounts reclassified from AOCI, before tax

[1]

(5,226)

(4,234)

Gains and (losses) reclassified from AOCI | Gains and (losses) on derivative contracts | Interest Rate Swaps

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Amounts reclassified from AOCI, before tax

[1]

(674)

101

Gains and (losses) reclassified from AOCI | Gains and (losses) on derivative contracts | Foreign exchange forward contracts

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Amounts reclassified from AOCI, before tax

[2]

588

Gains and (losses) reclassified from AOCI | Defined benefit pension items

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Amortization of net actuarial losses

[3]

6

7

Settlement and curtailments

[3]

44

Income tax (expense) benefit

(2)

(20)

Net income (loss) attributable to Multi-Color Corporation

$ 4

$ 31

[1]

Reclassified from AOCI into interest expense in the consolidated statements of operations. See Note 10.

[2]

Reclassified from AOCI into cost of revenues in the consolidated statements of operations. See Note 10.

[3]

Reclassified from AOCI into facility closure expenses in the consolidated statements of operations. These components are included in the computation of net periodic pension cost. See Note 12.

Facility Closures - Summary of

Facility Closures - Summary of Exit and Disposal Costs Related to Closure (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Restructuring Cost and Reserve [Line Items]
Total costs incurred	$ 510	$ 60	$ 114	$ 27	$ 529	$ 761	$ 95	$ 34	$ 711	$ 1,419
Cowansville Canada | Severance and other termination benefits
Restructuring Cost and Reserve [Line Items]
Total costs expected to be incurred	150								150
Total costs incurred									111
Cumulative costs incurred	111								111
Melbourne Australia | Severance and other termination benefits
Restructuring Cost and Reserve [Line Items]
Total costs expected to be incurred	170								170
Total costs incurred									170
Cumulative costs incurred	170								170
Melbourne Australia | Other associated costs
Restructuring Cost and Reserve [Line Items]
Total costs incurred									612
Cumulative costs incurred	612								612
Melbourne Australia | Other associated costs | Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Total costs expected to be incurred	900								900
Melbourne Australia | Other associated costs | Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Total costs expected to be incurred	700								700
Merignac France | Severance and other termination benefits
Restructuring Cost and Reserve [Line Items]
Total costs expected to be incurred	663								663
Total costs incurred									(40)	703
Cumulative costs incurred	663								663
Merignac France | Other associated costs
Restructuring Cost and Reserve [Line Items]
Total costs incurred									220	347
Cumulative costs incurred	567								567
Merignac France | Other associated costs | Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Total costs expected to be incurred	750								750
Merignac France | Other associated costs | Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Total costs expected to be incurred	$ 566								$ 566
Dormans France | Severance and other termination benefits
Restructuring Cost and Reserve [Line Items]
Total costs expected to be incurred					106					106
Dormans France | Other associated costs
Restructuring Cost and Reserve [Line Items]
Total costs expected to be incurred					$ 23					$ 23
Sonoma California | Severance and other termination benefits
Restructuring Cost and Reserve [Line Items]
Total costs expected to be incurred											$ 6
Sonoma California | Other associated costs
Restructuring Cost and Reserve [Line Items]
Total costs expected to be incurred											91
Glasgow Scotland | Severance and other termination benefits
Restructuring Cost and Reserve [Line Items]
Total costs expected to be incurred											100
Glasgow Scotland | Other associated costs
Restructuring Cost and Reserve [Line Items]
Total costs expected to be incurred											539
Greensboro North Carolina | Severance and other termination benefits
Restructuring Cost and Reserve [Line Items]
Total costs incurred											(22)
Greensboro North Carolina | Contract termination costs
Restructuring Cost and Reserve [Line Items]
Total costs incurred											(66)
Greensboro North Carolina | Other associated costs
Restructuring Cost and Reserve [Line Items]
Total costs incurred											207
Dublin Ireland | Severance and other termination benefits
Restructuring Cost and Reserve [Line Items]
Total costs expected to be incurred											102
Dublin Ireland | Contract termination costs
Restructuring Cost and Reserve [Line Items]
Total costs expected to be incurred											177
Dublin Ireland | Other associated costs
Restructuring Cost and Reserve [Line Items]
Total costs expected to be incurred											$ 76

Facility Closures - Reconciliat

Facility Closures - Reconciliation of Beginning and Ending Liability Balances Related to Exit and Disposal Costs (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018
Restructuring Cost and Reserve [Line Items]
Amounts Expensed	$ 510	$ 60	$ 114	$ 27	$ 529	$ 761	$ 95	$ 34	$ 711	$ 1,419
Cowansville Canada | Severance and other termination benefits
Restructuring Cost and Reserve [Line Items]
Amounts Expensed									111
Amounts Paid									(54)
Ending balance	57								57
Melbourne Australia | Severance and other termination benefits
Restructuring Cost and Reserve [Line Items]
Amounts Expensed									170
Amounts Paid									(170)
Melbourne Australia | Other associated costs
Restructuring Cost and Reserve [Line Items]
Amounts Expensed									612
Amounts Paid									(459)
Ending balance	$ 153								153
Merignac France | Severance and other termination benefits
Restructuring Cost and Reserve [Line Items]
Beginning balance				$ 457					457
Amounts Expensed									(40)	703
Amounts Paid									(417)
Ending balance					$ 457					457
Merignac France | Other associated costs
Restructuring Cost and Reserve [Line Items]
Amounts Expensed									220	$ 347
Amounts Paid									$ (220)

Facility Closures - Additional

Facility Closures - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Restructuring Cost and Reserve [Line Items]
Facility Closure Expenses	$ 711	$ 1,419	$ 921
Defined benefit pension plan, settlement expense		44	133
Cowansville Canada
Restructuring Cost and Reserve [Line Items]
Gain (loss) on sale of property, plant and equipment	55
Cumulative costs	483
Write-off of inventory	118
Cowansville Canada | Facility closure expenses
Restructuring Cost and Reserve [Line Items]
Facility closure expenses related to impairment loss on fixed assets	309
Melbourne Australia
Restructuring Cost and Reserve [Line Items]
Cumulative costs	782
Merignac France
Restructuring Cost and Reserve [Line Items]
Gain (loss) on sale of property, plant and equipment	(48)	(42)
Reversed accrued pension related to employees		102
Cumulative costs	1,343
Facility Closure Expenses	228	1,115
Merignac France | Facility closure expenses
Restructuring Cost and Reserve [Line Items]
Facility closure expenses related to impairment loss on fixed assets		125
Dormans France
Restructuring Cost and Reserve [Line Items]
Gain (loss) on sale of property, plant and equipment		(59)
Cumulative costs	$ 260
Write-off of inventory		47
Dormans France | Facility closure expenses
Restructuring Cost and Reserve [Line Items]
Facility closure expenses related to impairment loss on fixed assets		$ 25
Sonoma California
Restructuring Cost and Reserve [Line Items]
Gain (loss) on sale of property, plant and equipment			185
Write-off of property, plant and equipment			140
Glasgow Scotland
Restructuring Cost and Reserve [Line Items]
Gain (loss) on sale of property, plant and equipment			$ 377

Quarterly Data - Additional Inf

Quarterly Data - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018
Quarterly Financial Information Disclosure [Abstract]
Facility closure expenses	$ 510	$ 60	$ 114	$ 27	$ 529	$ 761	$ 95	$ 34	$ 711	$ 1,419
Facility closure expenses, after-tax									$ 507	$ 945

Quarterly Data - Quarterly Fina

Quarterly Data - Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Net revenues	$ 437,506	$ 397,004	$ 434,913	$ 456,131	$ 449,739	$ 352,699	$ 256,034	$ 242,440	$ 1,725,554	$ 1,300,912	$ 923,295
Gross profit	81,744	65,381	86,785	88,010	88,067	57,302	51,774	49,457	321,920	246,600	196,809
Net income (loss)	(82,039)	11,475	23,805	18,092	22,054	20,511	15,190	14,142	(28,667)	71,897	61,365
Net income (loss) attributable to Multi-Color Corporation	$ (82,221)	$ 11,286	$ 23,755	$ 18,139	$ 22,123	$ 20,532	$ 15,190	$ 14,106	$ (29,041)	$ 71,951	$ 60,996
Basic earnings (loss) per share	$ (4.01)	$ 0.55	$ 1.16	$ 0.89	$ 1.08	$ 1.06	$ 0.89	$ 0.83	$ (1.42)	$ 3.91	$ 3.61
Diluted earnings (loss) per share	$ (4.01)	$ 0.55	$ 1.16	$ 0.88	$ 1.08	$ 1.06	$ 0.88	$ 0.82	$ (1.42)	$ 3.87	$ 3.58
Facility closure expenses	$ 510	$ 60	$ 114	$ 27	$ 529	$ 761	$ 95	$ 34	$ 711	$ 1,419