v3.7.0.1

Debt | 12 Months Ended
--- | ---
Mar. 31, 2017
Debt Disclosure [Abstract] |
Debt | Debt The following summarizes the Company’s long-term debt:
|  | As of March 31,
|  | 2017 |  | 2016
|  | Principal |  | Unamortized Issuance Costs |  | Principal |  | Unamortized Issuance Costs
5.00% Senior Notes due 2023 |  | $ | 300,000 |  |  | $ | 3,746 |  |  | $ | 300,000 |  |  | $ | 4,370 |
2011 Credit Facility, due 2018 |  | 292,500 |  |  | 1,145 |  |  | 312,500 |  |  | 1,909 |
|  | $ | 592,500 |  |  | $ | 4,891 |  |  | $ | 612,500 |  |  | $ | 6,279 |
Less: Unamortized issuance costs |  | 4,891 |  |  |  |  | 6,279 |  |  |
Less: Current portion |  | — |  |  |  |  | — |  |  |
Long-term debt, net of unamortized issuance costs |  | $ | 587,609 |  |  |  |  | $ | 606,221 |  |  |
5.00% Senior Notes The Company's $300,000 5.00% Senior Notes due 2023 (the “Notes”) bear interest at a rate of 5.00%. Interest is payable semiannually in arrears on April 30 and October 30 of each year, commencing on October 30, 2015. The Notes will mature on April 30, 2023, unless earlier redeemed or repurchased in full. The Notes are unsecured and unsubordinated obligations of the Company. The Notes are fully and unconditionally guaranteed (the “Guarantees”), jointly and severally, by each of its subsidiaries that are guarantors under the 2011 Credit Facility (the “Guarantors”). The Guarantees are unsecured and unsubordinated obligations of the Guarantors. The net proceeds from the sale of the Notes were used primarily to repay and retire in full the principal amount of the Company’s senior 3.375% convertible notes (the “Convertible Notes”), as discussed below, as well as, fund the accelerated share repurchase program discussed in Note 15. 2011 Credit Facility The Company is party to a $500,000 senior secured revolving credit facility and a $150,000 senior secured incremental term loan (the “Term Loan”) that matures on September 30, 2018, comprising the “2011 Credit Facility”. The quarterly installments payable on the Term Loan were $1,875 beginning June 30, 2015 and $3,750 beginning June 30, 2016 with a final payment of $108,750 on September 30, 2018. The 2011 Credit Facility may be increased by an aggregate amount of $300,000 in revolving commitments and /or one or more new tranches of term loans, under certain conditions. Both the revolving loan and the Term Loan under the 2011 Credit Facility will bear interest, at the Company's option, at a rate per annum equal to either (i) the London Interbank Offered Rate (“LIBOR”) plus between 1.25% and 1.75% (currently 1.25% and based on the Company's consolidated net leverage ratio) or (ii) the Base Rate (which is the highest of (a) the Bank of America prime rate, and (b) the Federal Funds Effective Rate) plus between 0.25% and 0.75% (based on the Company’s consolidated net leverage ratio). Obligations under the 2011 Credit Facility are secured by substantially all of the Company’s existing and future acquired assets, including substantially all of the capital stock of the Company’s United States subsidiaries that are guarantors under the credit facility, and 65% of the capital stock of certain of the Company’s foreign subsidiaries that are owned by the Company’s United States subsidiaries. There are no prepayment penalties on loans under the 2011 Credit Facility. The Company had $165,000 revolver borrowings and $127,500 Term Loan borrowings outstanding under its 2011 Credit Facility as of March 31, 2017. The current portion of the Term Loan of $15,000 is classified as long-term debt as the Company expects to refinance the future quarterly payments with revolver borrowings under its 2011 Credit Facility. Senior Unsecured 3.375% Convertible Notes The Company's 3.375% Convertible Notes, with an original face value of $172,500, were issued when the Company’s stock price was trading at $30.19 per share. On May 7, 2015, the Company filed a notice of redemption for all of the Convertible Notes with a redemption date of June 8, 2015 at a price equal to $1,000.66 per $1,000 original principal amount of Convertible Notes, which is equal to 100% of the accreted principal amount of the Convertible Notes being repurchased plus accrued and unpaid interest. Holders were permitted to convert their Convertible Notes at their option on or before June 5, 2015. Ninety-nine percent of the Convertible Notes holders exercised their conversion rights on or before June 5, 2015, pursuant to which, on July 17, 2015, the Company paid $172,388, in aggregate, towards the principal balance including accreted interest, cash equivalent of fractional shares issued towards conversion premium and settled the conversion premium by issuing, in the aggregate, 1,889,431 shares of the Company's common stock from its treasury shares, thereby resulting in the extinguishment of all of the Convertible Notes as of that date. There was no impact to the income statement from the extinguishment as the fair value of the total settlement consideration transferred and allocated to the liability component approximated the carrying value of the Convertible Notes. The remaining consideration allocated to the equity component resulted in an adjustment to equity of $84,140. The amount of interest cost recognized for the amortization of the discount on the liability component of the Convertible Notes was $0, $1,330 and $8,283, respectively, for the fiscal years ended March 31, 2017, 2016 and 2015. The Company paid $20,781, $15,176 and $10,088, net of interest received, for interest during the fiscal years ended March 31, 2017, 2016 and 2015, respectively. The Company’s financing agreements contain various covenants, which, absent prepayment in full of the indebtedness and other obligations, or the receipt of waivers, would limit the Company’s ability to conduct certain specified business transactions including incurring debt, mergers, consolidations or similar transactions, buying or selling assets out of the ordinary course of business, engaging in sale and leaseback transactions, paying dividends and certain other actions. The Company is in compliance with all such covenants. Short-Term Debt As of March 31, 2017 and 2016, the Company had $18,359 and $22,144, respectively, of short-term borrowings from banks. The weighted-average interest rates on these borrowings were approximately 7% and 8% for fiscal years ended March 31, 2017 and 2016, respectively. Letters of Credit As of March 31, 2017 and 2016, the Company had $2,189 and $2,693, respectively, of standby letters of credit. Debt Issuance Costs Amortization expense, relating to debt issuance costs, included in interest expense was $1,388, $1,464, and $1,263 for the fiscal years ended March 31, 2017, 2016 and 2015, respectively. Debt issuance costs, net of accumulated amortization, totaled $4,891 and $6,279 as of March 31, 2017 and 2016, respectively. Available Lines of Credit As of March 31, 2017 and 2016, the Company had available and undrawn, under all its lines of credit, $475,947 and $472,187, respectively, including $142,872 and $144,112, respectively, of uncommitted lines of credit as of March 31, 2017 and March 31, 2016.

X
- References No definition available. + Details
Name: | us-gaap_DebtDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_DebtDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration