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STOCKHOLDERS' EQUITY
 12 Months Ended
Mar. 31, 2023
Equity [Abstract]  
STOCKHOLDERS' EQUITY Stockholders' Equity
There are two classes of authorized HL, Inc. common stock: Class A common stock and Class B common stock. The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion rights. Each share of Class A common stock is entitled to one vote per share, and each share of Class B common stock is entitled to ten votes per share. Each share of Class B common stock may be converted into one share of Class A common stock at the option of its holder and will be automatically converted into one share of Class A common stock upon transfer thereof, subject to certain exceptions.

On May 20, 2020, the Company completed an underwritten public offering of 3,000,000 shares of its Class A common stock. The offering generated net proceeds for the Company of approximately $188.7 million after deducting the underwriting discount and estimated offering expenses payable by us.
Class A common stock    
During the year ended March 31, 2023, the Company issued 6,739 shares to non-employee directors, and 1,455,908 shares were converted from Class B to Class A. During the year ended March 31, 2022, the Company issued 6,512 shares to non-employee directors, and 1,874,009 shares were converted from Class B to Class A. As of March 31, 2023, there were 50,580,598 Class A shares held by the public and 58,326 Class A shares held by non-employee directors. As of March 31, 2022, there were 49,801,577 Class A shares held by the public and 51,987 Class A shares held by non-employee directors.

Class B common stock
As of March 31, 2023, there were 18,048,345 Class B shares held by the HL Voting Trust. As of March 31, 2022, there were 17,649,555 Class B shares held by the HL Voting Trust.

Dividends
Previously declared dividends related to unvested shares of $18,608 and $9,312 were unpaid as of March 31, 2023 and 2022, respectively.
Stock subscriptions receivable
Employees of the Company periodically issued notes receivable to the Company documenting loans made by the Company to such employees for the purchase of restricted shares of the Company.
Share repurchases
In April 2022, the board of directors authorized an increase to the existing July 2021 share repurchase program, which provides for share repurchases of a new aggregate amount of up to $500.0 million of the Company's Class A common stock and Class B common stock. As of March 31, 2023, shares with a value of $482.7 million remained available for purchase under the program.

During the years ended March 31, 2023, 2022, and 2021, the Company repurchased 507,511, 455,402, and 286,730 shares, respectively, of Class B common stock, to satisfy $42,283, $33,700, and $17,810 of required withholding taxes in connection with the vesting of restricted awards, respectively. During the years ended March 31, 2023, 2022, and 2021, the Company repurchased an additional 677,287, 3,272,399, and 1,591,995 shares of its outstanding common stock, respectively, at a weighted average price of $85.74, $94.35, and $64.18 per share, excluding commissions, for an aggregate purchase price of $58,073, $308,746, and $102,173, respectively.