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Stock-based Compensation (Tables)

12 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Summary of Stock-based Compensation Expense Recognized in the Consolidated Statements of Operations

The following table summarizes stock-based compensation expense recognized in the consolidated statements of operations: 

			Fiscal Year Ended March 31,
			2023						2022						2021
Cost of revenue			$	43,378					$	36,836					$	27,682
General and administrative expenses			36,894						32,948						32,162
Total			$	80,272					$	69,784					$	59,844

The following table summarizes the total stock-based compensation expense recognized in the consolidated statements of operations by the following types of equity awards, including stock options, time-based and performance-based restricted stock awards. Compensation expense for performance-based awards is estimated at each reporting date using management's expectation of the probable achievement of the specified performance criteria of each tranche during the respective performance periods:

			Fiscal Year Ended March 31,
			2023						2022						2021
Equity Incentive Plan Options			$	2,550					$	1,793					$	2,625
Restricted Stock and Other Awards			77,722						67,991						57,219
Total			$	80,272					$	69,784					$	59,844

Schedule of Unrecognized Compensation Cost

Absent the effect of forfeiture or acceleration of stock compensation cost for any departures of employees, the following tables summarize the unrecognized compensation cost, the weighted average period the cost is expected to be amortized, and the estimated annual compensation cost for the future periods indicated below (excludes any future award): 

						Unrecognized Compensation Cost												Weighted Average Remaining Period to be Recognized
						March 31, 2023						March 31, 2022						March 31, 2023						March 31, 2022
Equity Incentive Plan Options						$	3,495					$	2,359					3.7						3.2
Restricted Stock and Other Awards						47,451						46,528						1.8						1.7
Total						$	50,946					$	48,887

						Total Unrecognized Compensation Cost
						Total						2024						2025						2026						2027						2028
Equity Incentive Plan Options						$	3,495					$	1,731					$	997					$	528					$	222					$	17
Restricted Stock and Other Awards						47,451						31,669						15,013						769						—						—
Total						$	50,946					$	33,400					$	16,010					$	1,297					$	222					$	17

Schedule of Unvested Restricted Stock Activity

The following table summarizes unvested restricted stock activity for the periods presented:

						Number of Shares						Weighted Average Grant Date Fair Value
Unvested Restricted Stock Awards
Unvested at March 31, 2022						1,064,260						$	79.29
Granted						1,184,107						86.20
Vested						903,523						77.68
Forfeited						160,257						82.96
Unvested at March 31, 2023						1,184,587						$	87.08

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- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (i)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

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