Stockholders' Equity

6 Months Ended

Sep. 30, 2020

Share Repurchases

On April 3, 2017, DXC announced the establishment of a share repurchase program approved by the Board of Directors with an initial authorization of $2.0 billion for future repurchases of outstanding shares of DXC common stock. On November 8, 2018, DXC's Board of Directors approved an incremental $2.0 billion share repurchase authorization. An expiration date has not been established for this repurchase plan. Share repurchases may be made from time to time through various means, including in open market purchases, 10b5-1 plans, privately-negotiated transactions, accelerated stock repurchases, block trades and other transactions, in compliance with Rule 10b-18 under the Exchange Act as well as, to the extent applicable, other federal and state securities laws and other legal requirements. The timing, volume, and nature of share repurchases pursuant to the share repurchase plan are at the discretion of management and may be suspended or discontinued at any time.

The shares repurchased are retired immediately and included in the category of authorized but unissued shares. The excess of purchase price over par value of the common shares is allocated between additional paid-in capital and retained earnings. There was no share repurchase activity during the six months ended September 30, 2020. The details of shares repurchased during the six months ended September 30, 2019 are shown below:


	Fiscal 2020
Fiscal Period		Number of Shares Repurchased	Average Price Per Share		Amount (in millions)
1st Quarter
Open market purchases		5,510,415	$	54.44	$	300
Accelerated stock repurchases		1,849,194	54.08		100
1st Quarter Total		7,359,609	$	54.35	$	400
2nd Quarter
Open market purchases		4,414,840	$	33.96	$	150
Accelerated stock repurchases		1,805,350	$	55.39	$	100
2nd Quarter Total		6,220,190	$	40.18	$	250
Total		13,579,799	$	47.86	$	650

Accumulated Other Comprehensive Loss

The following table shows the changes in accumulated other comprehensive income (loss), net of taxes:


(in millions)	Foreign Currency Translation Adjustments		Cash Flow Hedges		Available-for-sale Securities		Pension and Other Post-retirement Benefit Plans		Accumulated Other Comprehensive Loss
Balance at March 31, 2020	$	(851)	$	(20)	$	9	$	259	$	(603)
Current-period other comprehensive income	28		12		5		—		45
Amounts reclassified from accumulated other comprehensive loss	—		6		—		(10)		(4)
Balance at September 30, 2020	$	(823)	$	(2)	$	14	$	249	$	(562)


(in millions)	Foreign Currency Translation Adjustments		Cash Flow Hedges		Available-for-sale Securities		Pension and Other Post-retirement Benefit Plans		Accumulated Other Comprehensive Loss
Balance at March 31, 2019	$	(517)	$	(3)	$	9	$	267	$	(244)
Current-period other comprehensive loss	(184)		2		2		—		(180)
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		—		(4)		(4)
Balance at September 30, 2019	$	(701)	$	(1)	$	11	$	263	$	(428)