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Capitalization
12 Months Ended
Mar. 31, 2021
Equity [Abstract]  
Capitalization Capitalization
Common Stock
We have 46,482 and 46,011 shares of common stock, par value $0.01, outstanding at March 31, 2021 and March 31, 2020, respectively.
During fiscal 2021, we repurchased $95,259 of common stock, or 1,643 shares, under our share repurchase program. Our stock repurchase program has been funded by our existing cash and cash equivalent balances as well as cash flows provided by our operations. Our Board has approved, and we intend to execute, a capital allocation policy that provides for the repurchase of $200,000 of our common stock for the period from February 1, 2021 through the end of our 2022 fiscal year, plus the use of approximately 75% of our free cash flow for additional repurchases during fiscal year 2022. From February 1, 2021 through March 31, 2021 we repurchased $62,127 of our common stock.
Shares Reserved for Issuance
At March 31, 2021, we have reserved 5,075 shares in connection with our Stock Plans discussed in Note 10 of the notes to the consolidated financial statements.