XML 48 R36.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Stock-Based Compensation (Tables) | 9 Months Ended
--- | ---
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Compensation Expense Information | The following table provides information regarding our stock-based compensation:
|  | Three Months Ended December 31, |  | Nine Months Ended December 31,
(In thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Pre-tax stock-based compensation costs charged against income |  | $ | 2,865 |  |  | $ | 2,449 |  |  | $ | 8,424 |  |  | $ | 10,283 |
Income tax benefit recognized on compensation costs |  | $ | 356 |  |  | $ | 241 |  |  | $ | 1,085 |  |  | $ | 910 |
Total fair value of options and RSUs vested during the period |  | $ | — |  |  | $ | — |  |  | $ | 12,185 |  |  | $ | 12,213 |
Cash received from the exercise of stock options |  | $ | 8,748 |  |  | $ | 1,635 |  |  | $ | 12,340 |  |  | $ | 10,818 |
Tax benefits realized from tax deductions resulting from RSU issuances and stock option exercises |  | $ | 319 |  |  | $ | 351 |  |  | $ | 1,361 |  |  | $ | 1,490 |
Schedule of Restricted Shares | A summary of the RSUs granted under the 2005 Plan and the 2020 Plan is presented below:
RSUs |  | Shares (in thousands) |  | Weighted Average Grant-Date Fair Value
Nine Months Ended December 31, 2023 |  |  |  |
Unvested at March 31, 2023 |  | 409.0 |  |  | $ | 47.17 |
Granted |  | 157.1 |  |  | 62.06 |
Incremental performance shares |  | 41.4 |  |  | — |
Vested |  | (205.0) |  |  | 43.17 |
Forfeited |  | (10.6) |  |  | 52.68 |
Unvested at December 31, 2023 |  | 391.9 |  |  | 54.43 |
Vested at December 31, 2023 |  | 110.2 |  |  | 38.77 |
Nine Months Ended December 31, 2024 |  |  |  |
Unvested at March 31, 2024 |  | 391.9 |  |  | $ | 54.43 |
Granted |  | 145.7 |  |  | 69.70 |
Incremental performance shares |  | 41.1 |  |  | — |
Vested |  | (192.7) |  |  | 47.60 |
Forfeited |  | (4.9) |  |  | 59.31 |
Unvested at December 31, 2024 |  | 381.1 |  |  | 62.57 |
Vested at December 31, 2024 |  | 108.5 |  |  | 40.87 |
Schedule of Fair Value of Options Granted | The fair value of each option award is estimated on the date of grant using the Black-Scholes Option Pricing Model that uses the assumptions presented below:
|  | Nine Months Ended December 31,
|  | 2024 |  | 2023
Expected volatility |  | 30.4% - 30.8% |  | 30.2% - 31.6%
Expected dividends |  | $ | — |  |  | $ | — |
Expected term in years |  | 6.0 to 7.0 |  | 6.0 to 7.0
Risk-free rate |  | 4.5% |  | 3.6% to 4.1%
Weighted average grant date fair value of options granted |  | $ | 27.97 |  |  | $ | 23.79 |
Schedule of Stock Option Activity | A summary of option activity under the 2005 Plan and the 2020 Plan is as follows:
Options |  | Shares (in thousands) |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term (years) |  | Aggregate Intrinsic Value (in thousands)
Nine Months Ended December 31, 2023 |  |  |  |  |  |  |  |
Outstanding at March 31, 2023 |  | 1,081.0 |  |  | $ | 43.96 |  |  |  |  |
Granted |  | 131.1 |  |  | 61.81 |  |  |  |  |
Exercised |  | (268.9) |  |  | 40.23 |  |  |  |  |
Forfeited |  | (41.0) |  |  | 54.15 |  |  |  |  |
Expired |  | (2.8) |  |  | 54.47 |  |  |  |  |
Outstanding at December 31, 2023 |  | 899.4 |  |  | 47.18 |  |  | 6.2 |  | $ | 12,703 |
Vested at December 31, 2023 |  | 606.2 |  |  | 43.23 |  |  | 5.0 |  | $ | 10,903 |
Nine Months Ended December 31, 2024 |  |  |  |  |  |  |  |
Outstanding at March 31, 2024 |  | 728.0 |  |  | $ | 48.30 |  |  |  |  |
Granted |  | 109.7 |  |  | 69.94 |  |  |  |  |
Exercised |  | (243.9) |  |  | 50.59 |  |  |  |  |
Forfeited |  | (15.6) |  |  | 60.87 |  |  |  |  |
Outstanding at December 31, 2024 |  | 578.2 |  |  | 51.10 |  |  | 6.8 |  | $ | 15,608 |
Vested at December 31, 2024 |  | 349.9 |  |  | 42.65 |  |  | 5.7 |  | $ | 12,399 |

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

X
- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480429/718-10-50-2 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration