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Employee Stock-Based Compensation (Tables) | 12 Months Ended
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Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-Based Compensation Expense and Related Tax Benefit Recognized | The following table summarizes share-based compensation expense and total income tax benefit recognized for fiscal years 2024, 2023 and 2022 (in thousands):
|  | Years Ended March 31,
|  | 2024 |  | 2023 |  | 2022
Cost of goods sold |  | $ | 8,004 |  |  | $ | 5,635 |  |  | $ | 6,695 |
Marketing and selling |  | 35,780 |  |  | 34,707 |  |  | 37,796 |
Research and development |  | 17,836 |  |  | 15,292 |  |  | 18,356 |
General and administrative |  | 21,269 |  |  | 15,148 |  |  | 30,632 |
Total share-based compensation expense |  | 82,889 |  |  | 70,782 |  |  | 93,479 |
Income tax benefit |  | (15,305) |  |  | (9,750) |  |  | (26,987) |
Total share-based compensation expense, net of income tax benefit |  | $ | 67,584 |  |  | $ | 61,032 |  |  | $ | 66,492 |
Schedule of Assumptions Applied for the Fair Value of Market-Based RSUs Using the Monte-Carlo Simulation Method | The grant date fair value of the stock options and ESPP using the Black-Scholes-Merton option-pricing valuation model and the grant date fair value of the PSUs using the Monte-Carlo simulation method are determined with the following assumptions:
|  |  | Stock Options(1) |  | Employee Stock Purchase Plans
|  |  | Year Ended March 31, |  | Years Ended March 31,
|  |  | 2022 |  |  |  | 2024 |  | 2023 |  | 2022
Expected dividend rate |  |  | 1.18 | % |  |  |  | 1.61 | % |  | 1.78 | % |  | 1.03 | %
Risk-free interest rate |  |  | 1.99 | % |  |  |  | 5.36 | % |  | 3.86 | % |  | 0.27 | %
Expected volatility |  |  | 34 | % |  |  |  | 33 | % |  | 46 | % |  | 35 | %
Expected term (years) |  |  | 6.2 |  |  |  | 0.5 |  | 0.5 |  | 0.5
Weighted average grant date fair value per share |  |  | $ | 25.88 |  |  |  | $ | 19.02 |  | $ | 16.32 |  | $ | 23.55
(1) No stock options were granted for fiscal years 2024 and 2023.
PSUs |  | Years Ended March 31,
|  | 2024 |  | 2023 |  | 2022
Expected dividend rate |  | 1.90 | % |  | 1.46 | % |  | 0.78 | %
Risk-free interest rate |  | 3.83 | % |  | 2.78 | % |  | 0.31 | %
Expected volatility |  | 41 | % |  | 39 | % |  | 37 | %
Expected term (years) |  | 3.0 |  | 3.0 |  | 3.0
Schedule of Stock Option Activity | A summary of the Company's stock option activities under all stock plans for fiscal years 2024, 2023 and 2022 is as follows:
|  | Number of Shares |  | Weighted-Average Exercise Price |  | Weighted-Average Remaining Contractual Term |  | Aggregate Intrinsic Value |  |  |  |
|  | (In thousands) |  |  |  | (Years) |  | (In thousands) |  |  |  |
Outstanding, March 31, 2021 |  | 622 |  |  |  |  |  |  |  |  |  |  |
Granted |  | 842 |  |  |  |  |  |  |  |  |  |  |
Exercised |  | (71) |  |  |  |  |  |  | $ | 5,573 |  |  |  |  |
Outstanding, March 31, 2022 |  | 1,393 |  |  |  |  |  |  |  |  |  |  |
Exercised |  | (155) |  |  |  |  |  |  | $ | 6,482 |  |  |  |  |
Forfeited |  | (118) |  |  |  |  |  |  |  |  |  |  |
Outstanding, March 31, 2023 |  | 1,120 |  |  | $ | 66 |  |  | 7.6 |  | $ | 7,491 |  |  |  |  |
Exercised |  | (181) |  |  | $ | 43 |  |  |  |  | $ | 6,160 |  |  |  |  |
Forfeited |  | (176) |  |  | $ | 80 |  |  |  |  |  |  |  |  |
Outstanding, March 31, 2024 |  | 763 |  |  | $ | 68 |  |  | 7.0 |  | $ | 16,243 |  |  |  |  |
Vested and exercisable, March 31, 2024 |  | 489 |  |  | $ | 61 |  |  | 6.5 |  | $ | 13,960 |  |  |  |  |
Schedule of Time, Market and Performance-Based RSU Activity | A summary of the Company's RSU and PSU activities for fiscal years 2024, 2023 and 2022 is as follows:
|  | Number of Shares |  | Weighted-Average Grant Date Fair Value |  | Aggregate Fair Value |  |  |  |
|  | (In thousands) |  |  |  | (In thousands) |  |  |  |
Outstanding, March 31, 2021 |  | 3,643 |  |  | $ | 45 |  |  |  |  |  |  |
Granted—RSUs |  | 868 |  |  | $ | 103 |  |  |  |  |  |  |
Granted—PSUs |  | 203 |  |  | $ | 124 |  |  |  |  |  |  |
Vested |  | (1,463) |  |  |  |  | $ | 133,977 |  |  |  |  |
Forfeited |  | (205) |  |  |  |  |  |  |  |  |
Outstanding, March 31, 2022 |  | 3,046 |  |  | $ | 68 |  |  |  |  |  |  |
Granted—RSUs |  | 1,584 |  |  | $ | 53 |  |  |  |  |  |  |
Granted—PSUs |  | 407 |  |  | $ | 69 |  |  |  |  |  |  |
Vested |  | (1,143) |  |  |  |  | $ | 85,152 |  |  |  |  |
Forfeited |  | (438) |  |  |  |  |  |  |  |  |
Outstanding, March 31, 2023 |  | 3,456 |  |  | $ | 66 |  |  |  |  |  |  |
Granted—RSUs |  | 1,396 |  |  | $ | 59 |  |  |  |  |  |  |
Granted—PSUs |  | 457 |  |  | $ | 67 |  |  |  |  |  |  |
Vested |  | (1,200) |  |  | $ | 58 |  |  | $ | 92,340 |  |  |  |  |
Forfeited |  | (631) |  |  | $ | 73 |  |  |  |  |  |  |
Outstanding, March 31, 2024 |  | 3,478 |  |  | $ | 65 |  |  |  |  |  |  |

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of share-based awards, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References No definition available. + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -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
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