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Share-Based Compensation (Tables) | 12 Months Ended
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Mar. 31, 2016
Share-based Compensation [Abstract] |
Schedule of components of share-based compensation expense and related tax benefits | The components of share-based compensation expense and related tax benefits are as follows:
| Years Ended March 31,
(In millions) | 2016 |  | 2015 |  | 2014
Restricted stock unit awards (1) | $ | 88 |  |  | $ | 137 |  |  | $ | 126 |
Stock options | 22 |  |  | 24 |  |  | 22 |
Employee stock purchase plan | 13 |  |  | 13 |  |  | 12 |
Share-based compensation expense (2) | 123 |  |  | 174 |  |  | 160 |
Tax benefit for share-based compensation expense (3) | (41 | ) |  | (61 | ) |  | (55 | )
Share-based compensation expense, net of tax | $ | 82 |  |  | $ | 113 |  |  | $ | 105 |
(1) | Includes compensation expense recognized for RSUs, PeRSUs and TSRUs. Our TSRUs were awarded beginning in 2015.
(2) | 2016 includes non-cash credits of $14 million representing the reversal of previously recognized share-based compensation, which was recorded due to employee terminations associated with the March 2016 restructuring plan.
(3) | Income tax benefit is computed using the tax rates of applicable tax jurisdictions. Additionally, a portion of pre-tax compensation expense is not tax-deductible.
Schedule of weighted-average assumptions used to estimate the fair value | The weighted-average assumptions used to estimate the fair value of TSRUs are as follows:
| Years Ended March 31,
| 2016 |  | 2015
Expected stock price volatility | 18% |  | 21%
Expected dividend yield | 0.4% |  | 0.5%
Risk-free interest rate | 0.9% |  | 0.7%
Expected life (in years) | 3 |  | 3
Weighted-average assumptions used to estimate the fair value of employee stock options were as follows:
| Years Ended March 31,
| 2016 |  | 2015 |  | 2014
Expected stock price volatility | 21% |  | 22% |  | 22%
Expected dividend yield | 0.4% |  | 0.6% |  | 0.7%
Risk-free interest rate | 1.4% |  | 1.3% |  | 0.7%
Expected life (in years) | 4 |  | 4 |  | 4
Summary of options outstanding | The following is a summary of stock options outstanding at March 31, 2016:
|  | Options Outstanding |  | Options Exercisable
Range of Exercise Prices |  | Number of Options Outstanding at Year End (In millions) |  | Weighted- Average Remaining Contractual Life (Years) |  | Weighted- Average Exercise Price |  | Number of Options Exercisable at Year End (In millions) |  | Weighted- Average Exercise Price
$ | 40.46 |  | – | $ | 140.19 |  |  | 3 |  | 2 |  | $ | 83.62 |  |  | 2 |  | $ | 78.01 |
140.20 |  | – | 239.93 |  |  | 1 |  | 6 |  | 206.58 |  |  | — |  | 180.24 |
|  |  |  | 4 |  |  |  |  |  | 2 |  |
Summary of stock option activity | The following table summarizes stock option activity during 2016:
(In millions, except per share data) | Shares |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (2)
Outstanding, March 31, 2015 | 5 |  | $ | 95.01 |  |  | 4 |  | $ | 539 |
Granted | 1 |  | 236.77 |  |  |  |  |
Cancelled | (1) |  | 149.19 |  |  |  |  |
Exercised | (1) |  | 63.75 |  |  |  |  |
Outstanding, March 31, 2016 | 4 |  | $ | 118.95 |  |  | 3 |  | $ | 201 |
Vested and expected to vest (1) | 3 |  | $ | 118.21 |  |  | 3 |  | $ | 200 |
Vested and exercisable, March 31, 2016 | 2 |  | 85.15 |  |  | 2 |  | 173 |
(1) | The number of options expected to vest takes into account an estimate of expected forfeitures.
(2) | The intrinsic value is calculated as the difference between the period-end market price of the Company’s common stock and the exercise price of “in-the-money” options.
Summary of data related to stock option activity | The following table provides data related to stock option activity:
| Years Ended March 31,
(In millions, except per share data) | 2016 |  | 2015 |  | 2014
Weighted-average grant date fair value per stock option | $ | 44.04 |  |  | $ | 35.49 |  |  | $ | 21.45 |
Aggregate intrinsic value on exercise | $ | 107 |  |  | $ | 153 |  |  | $ | 144 |
Cash received upon exercise | $ | 47 |  |  | $ | 76 |  |  | $ | 111 |
Tax benefits realized related to exercise | $ | 42 |  |  | $ | 60 |  |  | $ | 55 |
Total fair value of stock options vested | $ | 18 |  |  | $ | 20 |  |  | $ | 24 |
Total compensation cost, net of estimated forfeitures, related to unvested stock options not yet recognized, pre-tax | $ | 20 |  |  | $ | 22 |  |  | $ | 29 |
Weighted-average period in years over which stock option compensation cost is expected to be recognized | 2 |  |  | 2 |  |  | 1 |
Summary of restricted stock unit award activity | The following table summarizes restricted stock unit award activity during 2016:
(In millions, except per share data) | Shares |  | Weighted- Average Grant Date Fair Value Per Share
Nonvested, March 31, 2015 | 4 |  | $ | 129.57 |
Granted | 1 |  | 240.35 |
Cancelled | (1) |  | 159.17 |
Vested | (1) |  | 89.44 |
Nonvested, March 31, 2016 | 3 |  | $ | 176.59 |
Schedule of data related to restricted stock unit award activity | The following table provides data related to restricted stock unit award activity:
| Years Ended March 31,
(In millions) | 2016 |  | 2015 |  | 2014
Total fair value of shares vested | $ | 104 |  |  | $ | 126 |  |  | $ | 184 |
Total compensation cost, net of estimated forfeitures, related to nonvested restricted stock unit awards not yet recognized, pre-tax | $ | 144 |  |  | $ | 206 |  |  | $ | 236 |
Weighted-average period in years over which restricted stock unit award cost is expected to be recognized | 2 |  |  | 2 |  |  | 2 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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