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Debt and Credit Facility (Tables) | 12 Months Ended
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Mar. 31, 2018
Convertible Debt [Abstract] |
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | Debt obligations included in the consolidated balance sheets consisted of the following (in millions):
|  | Coupon Interest Rate |  | Effective Interest Rate |  | Fair Value of Liability Component at Issuance (1) |  | March 31,
|  |  |  |  | 2018 |  | 2017
Senior Indebtedness |  |  |  |  |  |  |  |  |  |
Credit Facility |  |  |  |  |  |  |  | $ | — |  |  | $ | — |
Senior Subordinated Convertible Debt - Principal Outstanding |  |  |  |  |  |  |  |  |  |
2017 Senior Debt, maturing February 15, 2027 (2017 Senior Debt) |  | 1.625% |  | 6.0% |  | $1,396.3 |  | $ | 2,070.0 |  |  | $ | 2,070.0 |
2015 Senior Debt, maturing February 15, 2025 (2015 Senior Debt) |  | 1.625% |  | 5.9% |  | 1,160.1 |  | 1,725.0 |  |  | 1,725.0 |
Junior Subordinated Convertible Debt - Principal Outstanding |  |  |  |  |  |  |  |  |  |
2017 Junior Debt, maturing February 15, 2037 (2017 Junior Debt) |  | 2.250% |  | 7.4% |  | 321.1 |  | 686.3 |  |  | 575.0 |
2007 Junior Debt, maturing December 15, 2037 (2007 Junior Debt) |  | 2.125% |  | 9.1% |  | — |  | — |  |  | 143.8 |
Total Convertible Debt |  |  |  |  |  |  |  | 4,481.3 |  |  | 4,513.8 |
Gross long-term debt including current maturities |  |  |  |  |  |  |  | 4,481.3 |  |  | 4,513.8 |
Less: Debt discount (2) |  |  |  |  |  |  |  | (1,372.9 | ) |  | (1,516.5 | )
Less: Debt issuance costs (3) |  |  |  |  |  |  |  | (40.1 | ) |  | (46.8 | )
Net long-term debt including current maturities |  |  |  |  |  |  |  | 3,068.3 |  |  | 2,950.5 |
Less: Current maturities (4) |  |  |  |  |  |  |  | (1,309.9 | ) |  | (50.0 | )
Net long-term debt |  |  |  |  |  |  |  | $ | 1,758.4 |  |  | $ | 2,900.5 |
(1) As each of the convertible instruments may be settled in cash upon conversion, for accounting purposes, they were bifurcated into a liability component and an equity component, which are both initially recorded at fair value. The amount allocated to the equity component is the difference between the principal value of the instrument and the fair value of the liability component at issuance. The resulting debt discount is being amortized to interest expense at the respective effective interest rate over the contractual term of the debt. (2) The unamortized discount includes the following (in millions):
| March 31,
| 2018 |  | 2017
2017 Senior Debt | $ | (616.3 | ) |  | $ | (667.5 | )
2015 Senior Debt | (400.3 | ) |  | (446.6 | )
2017 Junior Debt | (356.3 | ) |  | (309.3 | )
2007 Junior Debt | — |  |  | (93.1 | )
Total unamortized discount | $ | (1,372.9 | ) |  | $ | (1,516.5 | )
(3) Debt issuance costs include the following (in millions):
| March 31,
| 2018 |  | 2017
Senior Credit Facility | $ | (5.9 | ) |  | $ | (8.5 | )
2017 Senior Debt | (16.1 | ) |  | (17.6 | )
2015 Senior Debt | (14.8 | ) |  | (16.6 | )
2017 Junior Debt | (3.3 | ) |  | (3.4 | )
2007 Junior Debt | — |  |  | (0.7 | )
Total debt issuance costs | $ | (40.1 | ) |  | $ | (46.8 | )
(4) Current maturities include the full balance of the 2015 Senior Debt as of March 31, 2018 and the full balance of the 2007 Junior Debt as of March 31, 2017.
Schedule of Unamortized Discount and Debt Issuance Costs | The unamortized discount includes the following (in millions):
| March 31,
| 2018 |  | 2017
2017 Senior Debt | $ | (616.3 | ) |  | $ | (667.5 | )
2015 Senior Debt | (400.3 | ) |  | (446.6 | )
2017 Junior Debt | (356.3 | ) |  | (309.3 | )
2007 Junior Debt | — |  |  | (93.1 | )
Total unamortized discount | $ | (1,372.9 | ) |  | $ | (1,516.5 | )
(3) Debt issuance costs include the following (in millions):
| March 31,
| 2018 |  | 2017
Senior Credit Facility | $ | (5.9 | ) |  | $ | (8.5 | )
2017 Senior Debt | (16.1 | ) |  | (17.6 | )
2015 Senior Debt | (14.8 | ) |  | (16.6 | )
2017 Junior Debt | (3.3 | ) |  | (3.4 | )
2007 Junior Debt | — |  |  | (0.7 | )
Total debt issuance costs | $ | (40.1 | ) |  | $ | (46.8 | )
Convertible Debt | The following table sets forth the applicable Conversion Rates adjusted for dividends declared since issuance of such series of Convertible Debt and the applicable Incremental Share Factors and Maximum Conversion Rates as adjusted for dividends paid since the applicable issuance date:
| Dividend adjusted rates as of March 31, 2018
| Conversion Rate, adjusted |  | Approximate Conversion Price, adjusted |  | Incremental Share Factor, adjusted |  | Maximum Conversion Rate, adjusted
2017 Senior Debt | 10.1162 |  |  | $ | 98.85 |  |  | 5.0581 |  |  | 14.4156 |
2015 Senior Debt | 15.7755 |  |  | $ | 63.39 |  |  | 7.8878 |  |  | 22.0857 |
2017 Junior Debt | 10.2969 |  |  | $ | 97.12 |  |  | 5.1485 |  |  | 14.4156 |
The following is the weighted average conversion price per share used in calculating the dilutive effect (See Note 11 for details on the convertible debt):
| Year Ended March 31,
| 2018 |  | 2017 |  | 2016
2007 Junior Debt (1) | $ | 23.59 |  |  | $ | 24.01 |  |  | $ | 24.73 |
2015 Senior Debt | $ | 63.94 |  |  | $ | 65.21 |  |  | $ | 67.19 |
2017 Senior Debt | $ | 99.71 |  |  | $ | 100.58 |  |  | $ | — |
2017 Junior Debt | $ | 97.96 |  |  | $ | 98.81 |  |  | $ | — |
(1) No longer outstanding as of December 31, 2018.
Schedule of Interest Expense | Interest expense related to convertible debt includes the following (in millions):
| Year Ended March 31,
| 2018 |  | 2017 |  | 2016
Debt issuance amortization | $ | 3.5 |  |  | $ | 2.1 |  |  | $ | 1.8 |
Amortization of debt discount - non cash interest expense | 106.1 |  |  | 56.1 |  |  | 48.0 |
Coupon interest expense | 77.3 |  |  | 44.5 |  |  | 40.2 |
Total | $ | 186.9 |  |  | $ | 102.7 |  |  | $ | 90.0 |

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- Definition Tabular disclosure of borrowings which can be exchanged for a specified number of another security at the option of the issuer or the holder. Disclosures include, but are not limited to, principal amount, amortized premium or discount, and amount of liability and equity components. + References No definition available. + Details
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