Related Party Transactions

12 Months Ended

Mar. 31, 2021

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions

The Company had agreements with Thoma Bravo, LLC for financial and management advisory services that terminated on August 1, 2019. During the years ended March 31, 2021, 2020, and 2019, the Company incurred zero, $1.6 million, and $4.9 million, respectively, related to these services. The related expense is reflected in “General and administrative” expense in the consolidated statements of operations.

During the year ended March 31, 2020, Compuware distributed $265.0 million to the Company to fund a tax liability incurred in connection with the reorganization transactions described in Note 2.

During the year ended March 31, 2019, the Company has transfers to related parties of $0.8 million which are included in “Additional paid-in capital” in the consolidated balance sheets.

During the year ended March 31, 2019, the Company transferred cash to related parties of $1,177.0 million related to debt service and shared costs. Other related party settlements resulted in an increase in payables to related parties of $14.3 million for the year ending March 31, 2019.Related Party DebtOn April 1, 2015, the Company entered into $1.8 billion in subordinated demand promissory notes payable to Compuware, a former related party. The promissory notes were established in connection with Compuware’s external debt financing. Interest expense on the promissory notes was zero, $4.1 million, and $27.4 million for the years ended March 31, 2021, 2020, and 2019, respectively, and is included in the consolidated statements of operations in “Interest expense, net.” In connection with the reorganization during the second quarter of fiscal 2020, the corresponding receivable at Compuware was contributed to the Company and the payable to related party was eliminated.