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Stock-Based Compensation and Incentive Plans (Tables) | 12 Months Ended
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Mar. 31, 2016
Schedule of Common Stock Shares Reserved for Issuance and Shares Available for Grant | The number of common stock shares reserved for issuance under the plans and the number of shares available for future grants at March 31, are as follows:
|  | 2016 |  |  | 2015 |
Shares of common stock reserved for issuance under the plans |  |  | 2,257,963 |  |  |  | 2,580,880 |
Shares of common stock available for future grants |  |  | 480,839 |  |  |  | 871,674 |
Fair Value and Assumptions Used for Stock Options Issued | The fair value and assumptions used for the stock options issued during the years ended March 31, are as follows:
|  | 2016 |  |  | 2015 |
Weighted average fair value of stock options granted |  | $ | 3.34 |  |  | $ | 5.54 |
Risk-free interest rate |  |  | 1.62 | % |  |  | 1.82 | %
Expected dividend yield |  |  | 0.0 | % |  |  | 2.4 | %
Expected stock price volatility |  |  | 45 | % |  |  | 30 | %
Expected stock option life |  | 6.5 years |  |  | 6.5 years |
Schedule of Stock Option Activity | The following table sets forth a summary of stock option activity of the company for fiscal years 2016, 2015 and 2014:
|  | Weighted-average Exercise Price |  |  | Number of Shares |
Outstanding at March 31, 2013 |  | $ | 46.24 |  |  |  | 1,556,275 |
Granted |  |  | — |  |  |  | — |
Exercised |  |  | 36.86 |  |  |  | (186,219 | )
Expired or cancelled/forfeited |  |  | — |  |  |  | — |
Outstanding at March 31, 2014 |  |  | 47.51 |  |  |  | 1,370,056 |
Granted |  |  | 22.80 |  |  |  | 428,326 |
Exercised |  |  | 35.21 |  |  |  | (29,118 | )
Expired or cancelled/forfeited |  |  | 42.97 |  |  |  | (60,058 | )
Outstanding at March 31, 2015 |  |  | 41.69 |  |  |  | 1,709,206 |
Granted |  |  | 7.21 |  |  |  | 405,817 |
Exercised |  |  | — |  |  |  | — |
Expired or cancelled/forfeited |  |  | 52.67 |  |  |  | (337,899 | )
Outstanding at March 31, 2016 |  | $ | 31.73 |  |  |  | 1,777,124 |
Options Outstanding, Exercise-Price Ranges | Information regarding the 1,777,124 options outstanding at March 31, 2016 can be grouped into three general exercise-price ranges as follows:
|  | Exercise Price Range |
At March 31, 2016 |  | $7.21 - $22.80 |  |  | $33.83 - $45.75 |  |  | $56.56 - $65.69 |
Options outstanding |  |  | 819,161 |  |  |  | 648,047 |  |  |  | 309,916 |
Weighted average exercise price of options outstanding |  | $ | 15.08 |  |  | $ | 40.49 |  |  | $ | 57.42 |
Weighted average remaining contractual life of options outstanding |  | 9.5 years |  |  | 3.6 years |  |  | 1.8 years |
Options exercisable |  |  | 142,802 |  |  |  | 648,047 |  |  |  | 309,916 |
Weighted average exercise price of options exercisable |  | $ | 22.80 |  |  | $ | 40.49 |  |  | $ | 57.42 |
Weighted average remaining contractual life of options exercisable |  | 9.0 years |  |  | 3.6 years |  |  | 1.8 years |
Additional Information Regarding Stock Options | Additional information regarding stock options for the years ended March 31, are as follows:
(In thousands, except number of stock options and weighted average price) |  | 2016 |  |  | 2015 |  |  | 2014 |
Intrinsic value of options exercised |  |  | — |  |  |  | 475 |  |  |  | 4,059 |
Number of stock options vested |  |  | 135,275 |  |  |  | 7,527 |  |  |  | 8,926 |
Fair value of stock options vested |  | $ | 749 |  |  |  | 40 |  |  |  | 115 |
Number of options exercisable |  |  | 1,100,765 |  |  |  | 1,288,407 |  |  |  | 1,370,056 |
Weighted average exercise price of options exercisable |  | $ | 42.96 |  |  |  | 47.86 |  |  |  | 47.51 |
Effect on Basic and Diluted Earnings Per Share, and Stock Option Compensation Expense | Stock option compensation expense along with the reduction effect on basic and diluted earnings per share for the years ended March 31, are as follows:
(In thousands, except per share data) |  | 2016 |  |  | 2015 |  |  | 2014 |
Stock option compensation expense |  | $ | 859 |  |  |  | 71 |  |  |  | 12 |
Basic earnings per share reduced by |  |  | 0.01 |  |  |  | 0.00 |  |  |  | 0.00 |
Diluted earnings per share reduced by |  |  | 0.01 |  |  |  | 0.00 |  |  |  | 0.00 |
Summary of Restricted Stock Award Activity | The following table sets forth a summary of restricted stock award activity of the company for fiscal 2016, 2015 and 2014:
|  | Weighted-average Grant-Date Fair Value |  |  | Time Based Shares |  |  | Performance Based Shares |
Non-vested balance at March 31, 2013 |  |  | 50.95 |  |  |  | 148,549 |  |  |  | 164,138 |
Granted |  |  | 55.04 |  |  |  | 28,963 |  |  |  | — |
Vested |  |  | 56.71 |  |  |  | (93,739 | ) |  |  | (1,749 | )
Cancelled/forfeited |  |  | 35.76 |  |  |  | (4,949 | ) |  |  | (56,123 | )
Non-vested balance at March 31, 2014 |  |  | 54.75 |  |  |  | 78,824 |  |  |  | 106,266 |
Granted |  |  | — |  |  |  | — |  |  |  | — |
Vested |  |  | 57.46 |  |  |  | (48,574 | ) |  |  | — |
Cancelled/forfeited |  |  | 47.09 |  |  |  | (5,959 | ) |  |  | (37,861 | )
Non-vested balance at March 31, 2015 |  |  | 56.94 |  |  |  | 24,291 |  |  |  | 68,405 |
Granted |  |  | — |  |  |  | — |  |  |  | — |
Vested |  |  | 55.04 |  |  |  | (24,291 | ) |  |  | — |
Cancelled/forfeited |  |  | 54.43 |  |  |  | — |  |  |  | (68,405 | )
Non-vested balance at March 31, 2016 |  | $ | — |  |  |  | — |  |  |  | — |
Summary of Phantom Stock Activity | The following table sets forth a summary of phantom stock activity of the company for fiscal 2016, 2015 and 2014:
|  | Weighted-average Grant-Date Fair Value |  |  | Time Based Shares |  |  | Performance Based Shares |
Non-vested balance at March 31, 2013 |  |  | 51.74 |  |  |  | 68,595 |  |  |  | — |
Granted |  |  | 48.81 |  |  |  | 31,736 |  |  |  | 1,291 |
Vested |  |  | 51.45 |  |  |  | (35,095 | ) |  |  | — |
Cancelled/forfeited |  |  | 50.93 |  |  |  | (4,354 | ) |  |  | — |
Non-vested balance at March 31, 2014 |  |  | 50.94 |  |  |  | 60,882 |  |  |  | 1,291 |
Granted |  |  | 22.80 |  |  |  | 546,058 |  |  |  | — |
Vested |  |  | 48.47 |  |  |  | (33,987 | ) |  |  | — |
Cancelled/forfeited |  |  | 50.70 |  |  |  | (5,482 | ) |  |  |  |
Non-vested balance at March 31, 2015 |  |  | 24.07 |  |  |  | 567,471 |  |  |  | 1,291 |
Granted |  |  | 7.21 |  |  |  | 1,246,972 |  |  |  | — |
Vested |  |  | 24.92 |  |  |  | (190,052 | ) |  |  | — |
Cancelled/forfeited |  |  | 23.93 |  |  |  | (25,853 | ) |  |  | — |
Non-vested balance at March 31, 2016 |  | $ | 10.83 |  |  |  | 1,598,538 |  |  |  | 1,291 |
Summary of Cash-Based Performance Plan Unit Activity | The following table sets forth a summary of cash-based performance plan unit activity of the company for fiscal 2016 and 2015:
|  | Weighted-average Grant-Date Fair Value |  |  | Performance Based Units |
Non-vested balance at March 31, 2014 |  | $ | — |  |  |  | — |
Granted |  |  | 1.10 |  |  |  | 4,519,703 |
Vested |  |  | — |  |  |  | — |
Cancelled/forfeited |  |  | — |  |  |  | — |
Non-vested balance at March 31, 2015 |  |  | 1.10 |  |  |  | 4,519,703 |
Granted |  |  | 1.22 |  |  |  | 3,527,333 |
Vested |  |  | — |  |  |  | — |
Cancelled/forfeited |  |  | 1.10 |  |  |  | (133,320 | )
Non-vested balance at March 31, 2016 |  | $ | 1.16 |  |  |  | 7,913,716 |
Summary of Deferred Stock Unit Activity | The following table sets forth a summary of deferred stock unit activity of the company for fiscal 2016, 2015 and 2014:
|  | Weighted-average Grant-Date Fair Value |  |  | Number Of Units |
Balance at March 31, 2013 |  |  | 50.48 |  |  |  | 144,007 |
Dividend equivalents reinvested |  |  | 53.82 |  |  |  | 2,492 |
Retirement distribution |  |  | 59.65 |  |  |  | (26,661 | )
Granted |  |  | 49.47 |  |  |  | 26,550 |
Balance at March 31, 2014 |  |  | 48.68 |  |  |  | 146,388 |
Dividend equivalents reinvested |  |  | 34.63 |  |  |  | 3,794 |
Retirement distribution |  |  | 47.50 |  |  |  | (21,492 | )
Granted |  |  | 19.14 |  |  |  | 56,370 |
Balance at March 31, 2015 |  |  | 39.53 |  |  |  | 185,060 |
Dividend equivalents reinvested |  |  | 13.36 |  |  |  | 15,064 |
Retirement distribution |  |  | 19.14 |  |  |  | (4,874 | )
Granted |  |  | 6.83 |  |  |  | 168,380 |
Balance at March 31, 2016 |  | $ | 23.58 |  |  |  | 363,630 |
Restricted Stock |
Schedule of Restricted Stock Compensation Expense and Grant Date Fair Value | Restricted stock award compensation expense and grant date fair value for the years ended March 31, is as follows:
(In thousands) |  | 2016 |  |  | 2015 |  |  | 2014 |
Grant date fair value of restricted stock vested |  | $ | 1,337 |  |  |  | 2,791 |  |  |  | 4,671 |
Restricted stock compensation expense |  |  | 472 |  |  |  | 2,855 |  |  |  | 4,633 |
Restricted Stock Units (RSUs) |
Schedule of Restricted Stock Compensation Expense and Grant Date Fair Value | Restricted stock unit compensation expense and grant date fair value for the year ended March 31, is as follows:
(In thousands) |  | 2016 |  |  | 2015 |  |  | 2014 |
Grant date fair value of restricted stock units vested |  | $ | 7,572 |  |  |  | 12,080 |  |  |  | 9,176 |
Restricted stock unit compensation expense |  |  | 10,505 |  |  |  | 17,214 |  |  |  | 12,664 |
Summary Of Restricted Stock Unit Activity | The following table sets forth a summary of restricted stock unit activity of the company for fiscal 2016, 2015, and 2014:
|  | Weighted-average Grant-Date Fair Value |  |  | Time Based Units |  |  | Weight-average Grant Date Fair Value |  |  | Performance Based Units |
Non-vested balance at March 31, 2013 |  | $ | 51.69 |  |  |  | 417,665 |  |  |  | 69.62 |  |  |  | 165,241 |
Granted |  |  | 49.37 |  |  |  | 265,937 |  |  |  | 56.44 |  |  |  | 91,132 |
Vested |  |  | 52.22 |  |  |  | (175,673 | ) |  |  | — |  |  |  | — |
Cancelled/forfeited |  |  | 52.43 |  |  |  | (12,720 | ) |  |  | — |  |  |  | — |
Non-vested balance at March 31, 2014 |  | $ | 50.24 |  |  |  | 495,209 |  |  |  | 53.58 |  |  |  | 256,373 |
Granted |  |  | 54.48 |  |  |  | 551 |  |  |  | — |  |  |  | — |
Vested |  |  | 50.92 |  |  |  | (237,229 | ) |  |  | — |  |  |  | — |
Cancelled/forfeited |  |  | 49.62 |  |  |  | (7,381 | ) |  |  | — |  |  |  | — |
Non-vested balance at March 31, 2015 |  | $ | 49.50 |  |  |  | 251,150 |  |  |  | 53.58 |  |  |  | 256,373 |
Granted |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Vested |  |  | 49.74 |  |  |  | (152,231 | ) |  |  | — |  |  |  | — |
Cancelled/forfeited |  |  | 49.74 |  |  |  | (9,280 | ) |  |  | 69.95 |  |  |  | (99,522 | )
Non-vested balance at March 31, 2016 |  | $ | 49.17 |  |  |  | 89,639 |  |  |  | 61.75 |  |  |  | 156,851 |
Phantom Stock Plan |
Schedule of Restricted Stock Compensation Expense and Grant Date Fair Value | Phantom stock compensation expense and grant date fair value of phantom stock vested for the years ended March 31, are as follows:
(In thousands) |  | 2016 |  |  | 2015 |  |  | 2014 |
Grant date fair value of phantom stock vested | $ |  | 4,737 |  |  |  | 1,647 |  |  |  | 1,806 |
Phantom stock compensation expense |  |  | 1,787 |  |  |  | 933 |  |  |  | 1,706 |
Phantom stock compensation costs capitalized as part of an asset |  |  | — |  |  |  | — |  |  |  | — |
Cash-based Performance Plan |
Schedule of Restricted Stock Compensation Expense and Grant Date Fair Value | Cash-based performance unit compensation expense and grant date fair value for the year ended March 31, is as follows:
(In thousands) |  | 2016 |  |  | 2015 |
Grant date fair value of cash-based performance units vested |  | $ | — |  |  |  | — |
Cash-based performance unit compensation expense |  |  | 1,141 |  |  |  | 72 |
Deferred Stock Unit |
Schedule of Restricted Stock Compensation Expense and Grant Date Fair Value | Deferred stock unit compensation expense, which is reflected in general and administrative expenses, for the years ended March 31, are as follows:
(In thousands) |  | 2016 |  |  | 2015 |  |  | 2014 |
Deferred stock units compensation expense (benefit) |  | $ | (904 | ) |  |  | (2,477 | ) |  |  | 1,737 |

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