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TREASURY STOCK
 6 Months Ended
Sep. 30, 2022
Equity [Abstract]  
TREASURY STOCK TREASURY STOCK
On October 24, 2017, the Company's Board of Directors approved a share repurchase program that enabled the Company to repurchase up to twenty-five million shares of its common stock (2017 Share Repurchase Program). This program became effective when the Company's previously disclosed twenty million share repurchase program was completed. The Company was not obligated to acquire any specific amount of common stock within any particular timeframe as a result of this share repurchase program. Through September 30, 2022, the Company repurchased a total of 22,497,332 shares for $612.6 million in the open market under the 2017 Share Repurchase Program, and at September 30, 2022, 2,502,668 shares of common stock remained available to be purchased under the 2017 Share Repurchase Program. The Company repurchased 3,255,814 and 921,299 shares for $105.0 million and $24.6 million under the 2017 Share Repurchase Program during the six months ended September 30, 2022 and 2021, respectively.
On May 3, 2022, the Company's Board of Directors approved a new share repurchase program that enables the Company to repurchase up to twenty-five million shares of its common stock (2022 Share Repurchase Program). The 2022 Share Repurchase Program will become effective once the 2017 Share Repurchase Program is completed. The Company is not obligated to acquire any specific amount of common stock within any particular timeframe as a result of the 2022 Share Repurchase Program.
On May 9, 2022, the Company entered into accelerated share repurchase (ASR) agreements with Mizuho Markets Americas LLC and Wells Fargo Bank, National Association (the Dealers) to repurchase an aggregate of $150 million of the Company's common stock via accelerated stock repurchase transactions under the 2017 Share Repurchase Program. Under the terms of the ASR, the Company made a $75 million payment to each of the Dealers on May 10, 2022, and received an initial delivery of 1,627,907 shares from each of the Dealers, or 3,255,814 shares in the aggregate, which is approximately 70 percent of the total number of shares of the Company's common stock expected to be repurchased under the ASR. These shares were deducted under the 2017 Share Repurchase Program. The final number of shares repurchased under the ASR is dependent upon the average of the daily volume-weighted average prices of the Company’s common stock during the term of the ASR, less a discount and subject to adjustments pursuant to the terms and conditions of the ASR. The delivery of additional shares of common stock to the Company or an additional delivery of shares of common stock or a cash payment, at NetScout's election, by the Company to the Dealers may be required. The final settlement of each of the ASR transactions is expected to occur no later than the end of the third quarter of the fiscal year ending March 31, 2023.
In connection with the delivery of shares of the Company's common stock upon vesting of restricted stock units, the Company withheld 550,602 shares and 523,539 shares at a cost of $19.0 million and $15.0 million, respectively, related to minimum statutory tax withholding requirements on these restricted stock units during the six months ended September 30, 2022 and 2021, respectively. These withholding transactions do not fall under the share repurchase programs described above, and therefore do not reduce the number of shares that are available for repurchase under those programs.