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Capital Stock (Tables) | 3 Months Ended
--- | ---
Jun. 30, 2021
Equity and Share-based Compensation [Abstract] |
Common Shares Reserved For Future Issuance | The table below outlines common shares reserved for future issuance:
| June 30, 2021 |  | March 31, 2021
| (Amounts in millions)
Stock options and SARs outstanding | 26.8 |  |  | 26.7 |
Restricted stock and restricted share units — unvested | 7.1 |  |  | 9.1 |
Common shares available for future issuance | 16.6 |  |  | 15.6 |
Shares reserved for future issuance | 50.5 |  |  | 51.4 |
Share-based Payment Arrangement [Abstract] |
Share-Based Compensation Expense | The Company recognized the following share-based compensation expense during the three months ended June 30, 2021 and 2020:
|  |  | Three Months Ended
|  |  | June 30,
|  |  |  |  | 2021 |  | 2020
|  |  |  |  | (Amounts in millions)
Compensation Expense: |  |  |  |  |  |  |
Stock options |  |  |  |  | $ | 9.4 |  |  | $ | 4.3 |
Restricted share units and other share-based compensation |  |  |  |  | 22.9 |  |  | 8.9 |
Share appreciation rights |  |  |  |  | 2.3 |  |  | 1.2 |
Total share-based compensation expense |  |  |  |  | 34.6 |  |  | 14.4 |
Tax impact(1) |  |  |  |  | (6.6) |  |  | (3.0) |
Reduction in net income |  |  |  |  | $ | 28.0 |  |  | $ | 11.4 |
___________________ (1)Represents the income tax benefit recognized in the unaudited condensed consolidated statements of operations for share-based compensation arrangements prior to the effects of changes in the valuation allowance. Share-based compensation expense, by expense category, consisted of the following:
|  |  | Three Months Ended
|  |  | June 30,
|  |  |  |  | 2021 |  | 2020
|  |  |  |  | (Amounts in millions)
Share-Based Compensation Expense: |  |  |  |  |  |  |
Direct operating |  |  |  |  | $ | 0.1 |  |  | $ | 0.4 |
Distribution and marketing |  |  |  |  | 0.1 |  |  | 0.1 |
General and administration |  |  |  |  | 34.4 |  |  | 13.9 |
|  |  |  |  | $ | 34.6 |  |  | $ | 14.4 |
Schedule of Stock Option, SARs, Restricted Stock and Restricted Share Unit Activity | The following table sets forth the stock option, SARs, restricted stock and restricted share unit activity during the three months ended June 30, 2021:
| Stock Options and 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, 2021 | 5.5 |  |  | $24.23 |  | 21.2 |  |  | $15.85 |  | — |  | (1) | $11.10 |  | 9.1 |  |  | $8.71
Granted | — |  |  | — |  |  | 0.5 |  |  | $13.45 |  | — |  |  | — |  |  | 0.3 |  |  | $11.48
Options exercised or restricted stock or RSUs vested | — |  | (1) | $11.05 |  | (0.2) |  |  | $11.82 |  | — |  | (1) | $11.30 |  | (2.0) |  |  | $9.33
Forfeited or expired | — |  | (1) | $23.08 |  | (0.2) |  |  | $25.19 |  | — |  |  | — |  |  | (0.3) |  |  | $8.03
Outstanding at June 30, 2021 | 5.5 |  |  | $24.32 |  | 21.3 |  |  | $15.73 |  | — |  | (1) | $11.07 |  | 7.1 |  |  | $8.70
__________________ (1)Represents less than 0.1 million shares.

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