Accounting for Share-Based Compensation (Tables)

6 Months Ended

Sep. 30, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

The Company recognized share-based compensation in the following line items in the Condensed Consolidated Statements of Operations for the periods indicated:



	Three Months Ended September 30,						Six Months Ended September 30,
	2015			2014			2015			2014
	(in millions)
Costs of licensing and maintenance	$	1		$	1		$	3		$	2
Cost of professional services	1			1			2			2
Selling and marketing	8			8			16			15
General and administrative	9			7			16			13
Product development and enhancements	4			5			8			10
Share-based compensation expense before tax	$	23		$	22		$	45		$	42
Income tax benefit	(7		)	(7		)	(14		)	(13		)
Net share-based compensation expense	$	16		$	15		$	31		$	29

Unrecognized share-based compensation costs

The following table summarizes information about unrecognized share-based compensation costs at September 30, 2015:



	Unrecognized Share-Based Compensation Costs		Weighted Average Period Expected to be Recognized
	(in millions)		(in years)
Stock option awards	$	7	2.0
Restricted stock units	24		2.2
Restricted stock awards	80		2.2
Performance share units	28		2.6
Total unrecognized share-based compensation costs	$	139	2.3

Weighted average fair values and assumptions used for options granted

The weighted average fair values and assumptions used for the options granted were as follows:



	Six Months Ended September 30,
	2015			2014
Weighted average fair value	$	4.68		$	5.87
Dividend yield	3.37		%	3.29		%
Expected volatility factor ⁽¹⁾	23		%	29		%
Risk-free interest rate ⁽²⁾	1.9		%	2.1		%
Expected life (in years) ⁽³⁾	6.0			6.0


(1)	Expected volatility is measured using historical daily price changes of the Company’s stock over the respective expected term of the options and the implied volatility derived from the market prices of the Company’s traded options.


(2)	The risk-free rate for periods within the contractual term of the stock options is based on the U.S. Treasury yield curve in effect at the time of grant.


(3)	The expected life is the number of years the Company estimates that options will be outstanding prior to exercise. The Company’s computation of expected life was determined based on the simplified method (the average of the vesting period and option term).

Summary of RSAs and RSUs granted under 1-year PSUs for Incentive Plan Years



		RSAs		RSUs
Incentive Plans for Fiscal Years	Performance Period	Shares (in millions)	Weighted Average Grant Date Fair Value	Shares (in millions)	Weighted Average Grant Date Fair Value
2015	1 year	0.5	$31.41	0.1	$30.42
2014	1 year	0.7	$29.91	0.1	$28.92

Summary of shares of common stock issued under 3-year PSUs for Incentive Plan Years

Summary of RSAs and RSUs granted under 1-year PSUs for Sales Retention Equity Programs



		RSAs		RSUs
Incentive Plans for Fiscal Years	Performance Period	Shares (in millions)	Weighted Average Grant Date Fair Value	Shares (in millions)	Weighted Average Grant Date Fair Value
2015	1 year	0.2	$30.45	0.1	$27.50
2014	1 year	0.2	$28.69	0.1	$25.73

Summary of all RSAs and RSUs granted, including grants made pursuant to long-term incentive plans

The table below summarizes all of the RSAs and RSUs, including grants made pursuant to the long-term incentive plans discussed above, granted during the three and six months ended September 30, 2015 and 2014:



	Three Months Ended September 30,					Six Months Ended September 30,
	2015		2014			2015		2014
	(shares in millions)
RSAs:
Shares	0.1		0.1			2.8		3.0
Weighted average grant date fair value ⁽¹⁾	$	29.86	$	28.29		$	30.64	$	28.95
RSUs:
Shares	0.1		—		⁽³⁾	0.9		0.8
Weighted average grant date fair value ⁽²⁾	$	27.72	$	26.33		$	28.72	$	26.91


(1)	The fair value is based on the quoted market value of the Company’s common stock on the grant date.


(2)	The fair value is based on the quoted market value of the Company’s common stock on the grant date reduced by the present value of dividends expected to be paid on the Company’s common stock prior to vesting of the RSUs, which is calculated using a risk-free interest rate.


(3)	Less than 0.1 million.

Incentive Plans
for Fiscal Years

Performance Period

Shares of Common Stock
(in millions)

Weighted Average Grant Date Fair Value