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STOCKHOLDERS' EQUITY | 9 Months Ended
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Dec. 31, 2023
Equity [Abstract] |
STOCKHOLDERS' EQUITY | Stockholders' Equity There are two classes of authorized Company 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. Class A Common Stock During the three months ended December 31, 2023 and 2022, no shares were issued to non-employee directors and 461,684 and 670,268 shares were converted from Class B to Class A, respectively. During the nine months ended December 31, 2023 and 2022, 6,609 and 6,739 shares were issued to non-employee directors, respectively, and 1,621,243 and 1,168,127 shares were converted from Class B to Class A, respectively. As of December 31, 2023, there were 51,962,741 Class A shares held by the public and 64,935 Class A shares held by non-employee directors. As of December 31, 2022, there were 50,292,817 Class A shares held by the public and 58,326 Class A shares held by non-employee directors. Class B Common Stock As of December 31, 2023 and 2022, there were 17,114,509 and 18,271,833 of Class B shares held by the HL Voting Trust, respectively. Dividends Previously declared dividends related to unvested shares of $20,110 and $15,322 were unpaid as of December 31, 2023 and 2022, respectively. 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 December 31, 2023, shares with a value of $457.7 million remained available for purchase under the program. During the three months ended December 31, 2023 and 2022, the Company repurchased 884 and 1,159 shares, respectively, of Class B common stock, to satisfy $95 and $92, respectively, of required withholding taxes in connection with the vesting of restricted awards. During the three months ended December 31, 2022, the Company repurchased 100,000 shares of its outstanding Class A common stock at a weighted average price of $91.68 per share, excluding commissions, for an aggregate purchase price of $9,168. No such repurchases were made during the three months ended December 31, 2023. During the nine months ended December 31, 2023 and 2022, the Company repurchased 767,716 and 507,621 shares, respectively, of Class B common stock, to satisfy $70,120 and $42,283 of required withholding taxes in connection with the vesting of restricted awards, respectively. During the nine months ended December 31, 2023, the Company repurchased 239,100 shares of its outstanding Class A common stock at a weighted average price of $104.36 per share, excluding commissions, for an aggregate purchase price of $24,952. During the nine months ended December 31, 2022, the Company repurchased 677,287 shares of its outstanding Class A common stock at a weighted average price of $85.74 per share, excluding commissions, for an aggregate purchase price of $58,073.

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