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Stock-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2025

Stock-Based Compensation

Assumptions Used in Determining Fair Value of Options

The Company estimated the fair value of option awards on the date of grant using the Black-Scholes option valuation model and the following assumptions:

​	​	​	​	​
​		Year ended March 31, 2023
Fair value of options	​	$	6.99	​
Expected life of awards in years	​		6.0	​
Risk-free interest rate	​		3.0	%
Expected volatility of the Company’s stock	​		57.8	%
Expected dividend yield on the Company’s stock	​		0.0	%

Stock Option Activity

A summary of stock option activity for fiscal 2025 was as follows:

​	​	​	​	​	​	​	​	​	​	​
​		​		​	​		Weighted-average		​	​
​	​	​	​	Weighted-average		​	remaining contractual	​	Aggregate
​	​	Shares	​	exercise price		​	term (years)	​	intrinsic value
Outstanding, beginning of year		0.6	​	$	12.78				​
Granted		—	​		—				​
Exercised		(0.1)	​		11.79				​
Forfeited or expired		—	​		12.85				​
Outstanding, end of year		0.5	​	$	12.94		5.9	​	$	31.8
​	​	​	​	​	​	​	​	​	​	​
Exercisable, March 31, 2025		0.4	​	$	12.80		5.7	​	$	25.5

Information Related to Stock Options Exercised

Additional information related to stock options exercised is as follows:

​	​	​	​	​	​	​	​	​	​
​		Years ended March 31,
​		2025			2024			2023
Intrinsic value of stock options exercised	​	$	8.1	​	$	12.4	​	$	1.5
Proceeds from stock options exercised	​		1.0	​		2.6	​		2.9

Restricted Stock Activity

A summary of restricted stock activity for fiscal 2025 was as follows:

​	​	​	​	​	​
​		​		Weighted-average
​		Shares		price
Non-vested balance, beginning of year	​	0.5	​	$	21.08
Granted	​	0.1	​		111.02
Vested	​	(0.3)	​		19.02
Forfeited	​	—	​		35.71
Non-vested balance, end of year	​	0.3	​	$	42.90

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- Definition

Tabular disclosure of cash received from exercise of stock options and similar instruments granted under share-based payment arrangements and tax benefit from exercise of stock options.

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