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Stockholders' Equity
6 Months Ended
Sep. 30, 2015
Equity [Abstract]  
STOCKHOLDERS' EQUITY
STOCKHOLDERS’ EQUITY
Common Stock
The common stock shares activity consisted of the following: 
 
Class A
Common Stock
 
Class B
Non-Voting
Common Stock
 
Class C
Restricted
Common Stock
 
Class E
Special Voting
Common Stock
 
Treasury
Stock
Balance at March 31, 2014
143,962,073

 
582,080

 
935,871

 
4,424,814

 
609,625

Issuance of common stock
1,365,008

 

 

 

 

Stock options exercised
3,392,643

 

 

 
(2,573,225)

 

Share exchange (1)
1,517,951

 
(582,080)

 
(935,871)

 

 

Repurchase of common stock (2)

 

 

 

 
2,389,768

Balance at March 31, 2015
150,237,675

 

 

 
1,851,589

 
2,999,393

Issuance of common stock
312,021

 

 

 

 

Stock options exercised (3)
2,259,018

 

 

 
(1,851,589
)
 

Repurchase of common stock (4)

 

 

 

 
1,360,563

Balance at September 30, 2015
152,808,714

 

 

 

 
4,359,956

(1)
At the annual meeting of stockholders held on July 31, 2014, the stockholders approved a proposal to amend and restate the certificate of incorporation, which had the effect of converting all issued and outstanding shares of Class B Non-Voting Common Stock and Class C Restricted Common Stock into shares of Class A Common Stock on a one-for-one basis. The conversion was effected on August 13, 2014 when the Company filed its third amended and restated certificate of incorporation with the Secretary of State of the State of Delaware. As a result of the conversion, there were no shares of Class B Non-Voting Common Stock and Class C Restricted Common Stock outstanding at such time.
(2)
On November 5, 2014, the Company entered into an agreement with an affiliate of The Carlyle Group to repurchase 1.0 million shares of the Company's Class A Common Stock. The shares were repurchased at a price of $25.10 per share in a private non-underwritten transaction. On February 2, 2015, the Company entered into a similar agreement with an affiliate of the Carlyle Group to repurchase an additional 1.0 million shares of our Class A common stock pursuant to the repurchase program. The shares were repurchased from the Underwriter at a price of $28.36 per share. The repurchase of common stock above also reflects shares repurchased on June 30, 2014 to cover the minimum statutory withholding taxes on restricted stock awards that vested on June 30, 2014, shares repurchased on September 12, 2014 to cover the minimum statutory withholding taxes on rollover stock options exercised on September 12, 2014 and shares repurchased on multiple dates to cover the minimum statutory withholding taxes on accelerated restricted stock vesting for departing officers.
(3)
On September 30, 2015, the Company purchased, at par value, all issued and outstanding shares of Class E special voting common stock in connection with the exercise of the final tranche of rollover options during the second quarter of fiscal 2016.
(4)
During the first quarter of fiscal 2016, the Company purchased 1.2 million shares of the Company’s Class A Common Stock in a series of open market transactions for $30.5 million. In addition, the repurchase of common stock above reflects shares repurchased on June 30, 2015 to cover the minimum statutory withholding taxes on restricted stock awards and restricted stock units that vested on June 30, 2015, and shares repurchased to cover the minimum statutory withholding taxes on accelerated restricted stock vesting for departing officers.
For the quarterly offering period that closed on September 30, 2015, 59,792 Class A Common Stock shares were purchased by employees under the Company's Employee Stock Purchase Plan, or ESPP. Since the program's inception, 1,626,202 shares have been purchased by employees.