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Capital Stock (Tables)
 9 Months Ended
Dec. 31, 2019
Equity and Share-based Compensation [Abstract]  
Common Shares Reserved For Future Issuance The table below outlines common shares reserved for future issuance:
 
 
December 31,
2019
 
March 31,
2019
 
(Amounts in millions)
Stock options and equity-settled SARs outstanding
36.7

 
34.6

Restricted stock and restricted share units — unvested
3.9

 
2.0

Common shares available for future issuance
10.5

 
6.7

Shares reserved for future issuance
51.1

 
43.3
Share-based Payment Arrangement [Abstract]  
Share-Based Compensation Expense
Share-based compensation expense, by expense category, consisted of the following:
 
Three Months Ended
 
Nine Months Ended
 
December 31,
 
December 31,
 
2019
 
2018
 
2019
 
2018
 
(Amounts in millions)
Share-Based Compensation Expense:
 
 
 
 
 
 
 
Direct operating
$
0.7

 
$
0.4

 
$
1.1

 
$
0.8

Distribution and marketing
0.2

 
0.2

 
0.4

 
0.3

General and administration
16.3

 
10.5

 
39.5

 
40.2

Restructuring and other
—

 
2.4

 
0.3

 
2.4

 
$
17.2

 
$
13.5

 
$
41.3

 
$
43.7


The Company recognized the following share-based compensation expense during the three and nine months ended December 31, 2019, and 2018:
 
 
Three Months Ended
 
Nine Months Ended
 
December 31,
 
December 31,
 
2019
 
2018
 
2019
 
2018
 
(Amounts in millions)
Compensation Expense:
 
 
 
 
 
 
 
Stock options
$
5.5

 
$
4.7

 
$
14.3

 
$
18.2

Restricted share units and other share-based compensation
9.8

 
5.9

 
23.1

 
19.8

Share appreciation rights
1.9

 
0.5

 
3.6

 
3.3

 
17.2

 
11.1

 
41.0

 
41.3

Impact of accelerated vesting on equity awards(1)
—

 
2.4

 
0.3

 
2.4

Total share-based compensation expense
$
17.2

 
$
13.5

 
$
41.3

 
$
43.7

 
 
 
 
 
 
 
 
Tax impact(2)
(3.6
)
 
(3.2
)
 
(8.7
)
 
(10.1
)
Reduction in net income
$
13.6

 
$
10.3

 
$
32.6

 
$
33.6


___________________
(1)
Represents the impact of the acceleration of certain vesting schedules for equity awards pursuant to certain severance arrangements.
(2)
Represents the income tax benefit recognized in the unaudited condensed consolidated statements of operations for share-based compensation arrangements.
Schedule of Stock Option, Equity-Settled SARs, Cash-Settled SARs, Restricted Stock and Restricted Share Unit Activity
The following table sets forth the stock option, equity-settled SARs, cash-settled SARs, restricted stock and restricted share unit activity during the nine months ended December 31, 2019:

 
Stock Options, Equity-settled and Cash-settled SARs
 
Restricted Stock and Restricted Share Units
 
Class A Voting Shares
 
Class B Non-Voting Shares
 
Class A Voting Shares
 
Class B Non-Voting Shares
 
Number of Shares
 
Weighted-Average Exercise Price
 
Number of Shares
 
Weighted-Average Exercise Price
 
Number of Shares
 
Weighted-Average Grant-Date Fair Value
 
Number of Shares
 
Weighted-Average Grant-Date Fair Value
 
(Number of shares in millions)
Outstanding at March 31, 2019
8.4

 
$26.70
 
26.2

 
$20.72
 
0.1

 
$25.68
 
1.9

 
$24.24
Granted
—

 
—

 
7.5

(2) 
$12.71
 
—

(1) 
$11.01
 
3.1

 
$12.03
Options exercised or restricted stock or RSUs vested
—

 
—

 
(0.1
)
 
$10.50
 
(0.1
)
 
$25.93
 
(0.7
)
 
$24.22
Forfeited or expired
(1.1
)
 
$29.94
 
(4.2
)
 
$17.82
 
—

(1) 
$18.90
 
(0.3
)
 
$20.86
Outstanding at December 31, 2019
7.3

 
$26.22
 
29.4

 
$19.06
 
—

(1) 
$14.89
 
4.0

 
$15.10

__________________
(1)
Represents less than 0.1 million shares.
(2)
During the nine months ended December 31, 2019, the Company granted 3.3 million cash-settled share-appreciation rights ("CSARs"). The CSARs are revalued each reporting period until settlement using a closed-form option pricing model (Black Scholes).