TREASURY STOCK

9 Months Ended

Dec. 31, 2021

Equity [Abstract]

TREASURY STOCK

TREASURY STOCKOn October 24, 2017, the Company's Board of Directors approved a share repurchase program that enables the Company to repurchase up to twenty-five million shares of its common stock. This program became effective when the Company's previously disclosed twenty million share repurchase program was completed. The Company is not obligated to acquire any specific amount of common stock within any particular timeframe as a result of this share repurchase program. 

Through December 31, 2021, the Company repurchased 19,241,518 shares for $507.6 million in the open market under the twenty-five million share repurchase program. At December 31, 2021, 5,758,482 shares of common stock remained available to be purchased under the current repurchase program. The Company repurchased 1,330,678 and 154,271 shares for $35.7 million and $3.3 million, respectively, under the twenty-five million share repurchase program during the nine months ended December 31, 2021 and 2020, respectively.

In connection with the delivery of shares of the Company's common stock upon vesting of restricted stock units, the Company withheld 531,725 shares and 489,907 shares at a cost of $15.2 million and $12.8 million, respectively, related to minimum statutory tax withholding requirements on these restricted stock units during the nine months ended December 31, 2021 and 2020, respectively. These withholding transactions do not fall under the repurchase program described above, and therefore do not reduce the number of shares that are available for repurchase under that program.