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Share-Based Compensation (Tables) | 12 Months Ended
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Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-based Compensation Expense | The following table presents the details of the Company's share-based compensation expense (in millions):
| Fiscal Year Ended March 31,
| 2024 |  | 2023 |  | 2022
Cost of sales (1) | $ | 25.6 |  |  | $ | 27.2 |  |  | $ | 34.3 |
Research and development | 94.3 |  |  | 83.1 |  |  | 97.9 |
Selling, general and administrative | 57.6 |  |  | 60.1 |  |  | 78.0 |
Pre-tax effect of share-based compensation | 177.5 |  |  | 170.4 |  |  | 210.2 |
Income tax benefit | 37.5 |  |  | 36.4 |  |  | 44.6 |
Net income effect of share-based compensation | $ | 140.0 |  |  | $ | 134.0 |  |  | $ | 165.6 |
(1) During the fiscal year ended March 31, 2024, $19.0 million of share-based compensation expense was capitalized to inventory and $25.6 million of previously capitalized share-based compensation expense in inventory was sold. During the fiscal year ended March 31, 2023, $19.7 million of share-based compensation expense was capitalized to inventory and $27.2 million of previously capitalized share-based compensation expense in inventory was sold. During the fiscal year ended March 31, 2022, $21.2 million of share-based compensation expense was capitalized to inventory and $34.3 million of previously capitalized share-based compensation expense in inventory was sold.
Schedule of Share-based Compensation, Restricted Stock Units Award Activity | RSUs share activity is set forth below:
| Number of Shares |  | Weighted Average Grant Date Fair Value
Nonvested shares at March 31, 2021 | 11,710,924 |  |  | $ | 44.51 |
Granted | 2,850,803 |  |  | $ | 74.00 |
Forfeited | (917,303) |  |  | $ | 50.76 |
Vested | (3,795,469) |  |  | $ | 43.77 |
Nonvested shares at March 31, 2022 | 9,848,955 |  |  | $ | 52.74 |
Granted | 3,054,320 |  |  | $ | 61.76 |
Forfeited | (815,738) |  |  | $ | 55.14 |
Vested | (3,423,935) |  |  | $ | 45.08 |
Nonvested shares at March 31, 2023 | 8,663,602 |  |  | $ | 58.72 |
Granted | 2,535,772 |  |  | $ | 77.28 |
Forfeited | (474,397) |  |  | $ | 64.37 |
Vested | (2,510,781) |  |  | $ | 48.56 |
Nonvested shares at March 31, 2024 | 8,214,196 |  |  | $ | 67.22 |
Schedule of Share-based Compensation, Performance Stock Units Award Activity | PSUs share activity is set forth below:
| Number of Shares |  | Weighted Average Grant Date Fair Value
Nonvested shares at March 31, 2021 | 172,894 |  |  | $ | 62.85 |
Granted | 145,188 |  |  | $ | 81.51 |
Forfeited | (61,022) |  |  | $ | 57.08 |
Vested | — |  |  | $ | — |
Nonvested shares at March 31, 2022 | 257,060 |  |  | $ | 74.76 |
Granted | 172,334 |  |  | $ | 60.88 |
Forfeited | (48,524) |  |  | $ | 66.71 |
Vested | — |  |  | $ | — |
Nonvested shares at March 31, 2023 | 380,870 |  |  | $ | 69.51 |
Granted | 123,747 |  |  | $ | 77.61 |
Forfeited | (2,883) |  |  | $ | 100.20 |
Vested | — |  |  | $ | — |
Nonvested shares at March 31, 2024 | 501,734 |  |  | $ | 71.33 |

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