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Stock-Based Compensation (Tables)
12 Months Ended
Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock-Based Compensation Expense
Total stock-based compensation expense consists of the following:
 
Years Ended 31 March
(Millions of US dollars)202520242023
Liability Awards$2.7 $17.3 $2.7 
Equity Awards23.0 28.2 15.7 
Total stock-based compensation expense$25.7 $45.5 $18.4 
Summary of Stock Options Available for Grant
The following summarizes the Company’s shares available for grant as options, RSUs or other equity instruments under the LTIP and 2001 Plan:
 
Shares
Available for
Grant
Balance at 31 March 2023
18,948,803 
Granted(1,169,733)
Balance at 31 March 2024
17,779,070 
Granted(1,175,352)
Balance at 31 March 2025
16,603,718 
Schedule of Stock Options Roll Forward
The following summarizes the Company’s stock options activity during the noted period:
Outstanding Options
Number of OptionsWeighted Average
Exercise Price (A$)
Balance at 31 March 2023
269,221 33.05 
Granted— — 
Balance at 31 March 2024
269,221 33.05 
Granted— — 
Balance at 31 March 2025
269,221 33.05 
Options exercisable at 31 March 2025
— — 
Restricted Stock Unit Activity
The following summarizes the Company’s RSU activity:
(Units)Service
Vesting
(2001 Plan)
Performance
Vesting
(LTIP)
Market
Conditions (LTIP)
TotalWeighted
Average Fair
Value at Grant
Date (A$)
Outstanding at 31 March 2023
1,136,526 372,029 870,044 2,378,599 26.97 
Granted533,278 176,624 459,831 1,169,733 43.20 
Vested(373,440)(90,452)(42,581)(506,473)30.88 
Forfeited(68,712)(13,299)(173,643)(255,654)25.63 
Outstanding at 31 March 2024
1,227,652 444,902 1,113,651 2,786,205 33.36 
Granted527,577 250,826 396,949 1,175,352 45.57 
Vested(532,445)(104,434)(1,490)(638,369)35.86 
Forfeited(121,585)(5,609)(322,022)(449,216)28.64 
Outstanding at 31 March 2025
1,101,199 585,685 1,187,088 2,873,972 38.64 
Assumptions Used to Fair Value Restricted Stock Grants
The following includes the assumptions used to fair value the RSU grants (market condition):
Vesting Condition:MarketMarket
 FY25FY24
Date of grant17-Aug-241-Sep-23
Dividend yield (per annum)— %— %
Expected volatility37.9 %35.4 %
Risk free interest rate3.9 %4.6 %
Expected life in years3.03.0
JHX stock price at grant date (A$)51.9946.72
Number of restricted stock units396,949451,945
Schedule of Fair Value of Restricted Stock Units Vested
The following presents the total fair value of all of our restricted stock units vested:
Years ended 31 March
(Millions of US dollars)202520242023
Total fair value vested$22.3 $16.1 $18.4 
Cash Settled Units Activity
The following represents the activity related to the CSUs:
FY25FY24
Granted500,610 529,875 
Vested232,420 177,955 
Cancelled88,382 125,144