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.