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Stock-Based Compensation (Tables) | 9 Months Ended
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Dec. 31, 2020
Stock-Based Compensation [Abstract] |
Fair Market Value of Stock-Based Compensation Awards | The fair value of stock-based compensation awards granted during the nine months ended December 31, 2020 and 2019 were as follows:
|  | Nine months ended December 31, |
|  | 2020 |  |  | 2019 |
|  | Shares |  |  | Fair Value Per Award |  |  | Shares |  |  | Fair Value Per Award |
Stock options |  |  | 0.4 |  |  | $ | 3.46 |  |  |  | 0.3 |  |  | $ | 5.56 |
Restricted stock awards |  |  | 0.6 |  |  | $ | 8.34 |  |  |  | 0.3 |  |  | $ | 13.26 |
Performance stock awards (a) |  |  | - |  |  |  | - |  |  |  | 0.3 |  |  | $ | 13.26 |
Unrestricted stock awards |  |  | 0.2 |  |  | $ | 5.21 |  |  |  | 0.1 |  |  | $ | 14.50 |
(a) | In lieu of performance-based stock awards, the Company granted performance cash awards to the LTIP participants in fiscal 2021. The performance metrics for the cash awards are based upon a target three-year average cash flow return on invested capital and a target three-year average revenue growth at the end of the three-year performance period ending March 31, 2023. These performance metrics are the same as the metrics for the fiscal 2020 and 2019 performance-based stock awards.
Assumptions Used in Determining Fair Value of Stock Options | The Company used the following assumptions in determining fair value for stock options:
|  | Nine months ended December 31, |
|  | 2020 |  |  | 2019 |
Expected life of awards in years |  |  | 6.1 |  |  |  | 6.3 |
Risk-free interest rate |  |  | 0.4 | % |  |  | 2.2 | %
Expected volatility of the Company's stock |  |  | 54.1 | % |  |  | 39.2 | %
Expected dividend yield on the Company's stock |  |  | 0.0 | % |  |  | 0.0 | %
Unrecognized Compensation Expenses Related to Non-Vested Stock-Based Compensation Awards | As of December 31, 2020, unrecognized compensation expense related to non-vested stock-based compensation awards, which will be amortized over the remaining service periods, was as follows:
|  | Unrecognized Compensation Expense |  |  | Weighted-Average Remaining Service Period in Years |
Stock options |  | $ | 2.3 |  |  |  | 3.0 |
Restricted stock awards |  |  | 8.1 |  |  |  | 2.9 |
Performance stock awards |  |  | 0.6 |  |  |  | 1.2 |
Total |  | $ | 11.0 |  |  |  | 2.8 |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + 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 (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition 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 http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted during the year. + 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 (d)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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