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Stock Plans (Tables)
 12 Months Ended
Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Recognized share-based compensation
The Company recognized share-based compensation in the following line items in the Consolidated Statements of Operations for the periods indicated:
 
Year Ended March 31,
(in millions)
2018
 
2017
 
2016
Costs of licensing and maintenance
$
8

 
$
7

 
$
7

Cost of professional services
3

 
3

 
4

Selling and marketing
38

 
37

 
34

General and administrative
45

 
38

 
35

Product development and enhancements
26

 
23

 
17

Share-based compensation expense before tax
$
120

 
$
108

 
$
97

Income tax benefit
(37
)
 
(35
)
 
(31
)
Net share-based compensation expense
$
83

 
$
73

 
$
66
Unrecognized share-based compensation costs
The following table summarizes information about unrecognized share-based compensation costs at March 31, 2018:
 
Unrecognized Share-Based Compensation Costs
 
Weighted Average Period Expected to be Recognized
 
(in millions)
 
(in years)
Stock option awards
$
4

 
1.8
Restricted stock units
18

 
1.8
Restricted stock awards
64

 
1.8
Performance share units
33

 
2.2
Total unrecognized share-based compensation costs
$
119

 
1.9
Options outstanding vested and expected to vest
At March 31, 2018, options outstanding that have vested and are expected to vest were as follows:
 
Number of Shares
(in millions)
 
Weighted Average Exercise Price
 
Weighted Average Remaining Contractual Life
(in years)
 
Aggregate Intrinsic Value (1)
(in millions)
Vested
2.4

 
$
27.79

 
5.9
 
$
14.6

Expected to vest (2)
1.7

 
31.57

 
8.5
 
4.1

Total
4.1

 
$
29.37

 
7.0
 
$
18.7

(1)
These amounts represent the difference between the exercise price and $33.90, the closing price of the Company’s common stock on March 29, 2018, the last trading day of the Company’s fiscal year as reported on the NASDAQ Stock Market for all in-the-money options.
(2)
Outstanding options expected to vest are net of estimated future forfeitures.
Stock option activity
 
Number of Shares
 
Weighted Average Exercise Price
 
(in millions)
 
Outstanding at March 31, 2015
3.2

 
$
27.02

Granted
0.8

 
30.39

Exercised
(0.2
)
 
25.58

Expired or terminated
(0.1
)
 
31.08

Outstanding at March 31, 2016
3.7

 
$
27.72

Granted
1.1

 
31.84

Exercised
(0.8
)
 
27.09

Expired or terminated
(0.2
)
 
30.82

Outstanding at March 31, 2017
3.8

 
$
28.88

Granted
1.0

 
31.69

Exercised
(0.5
)
 
29.36

Expired or terminated
—

 
—

Outstanding at March 31, 2018
4.3

 
$
29.48
Options exercisable
 
Number of Shares
 
Weighted Average Exercise Price
 
(in millions)
 
Options exercisable at:
 
 
 
March 31, 2016
2.0

 
$
26.16

March 31, 2017
2.1

 
$
27.09

March 31, 2018
2.4

 
$
27.79
Summary of stock option information by exercise price range
The following table summarizes stock option information at March 31, 2018:
 
Options Outstanding
 
Options Exercisable
Range of Exercise Prices
Shares
 
Aggregate Intrinsic Value
 
Weighted Average Remaining Contractual Life
 
Weighted Average Exercise Price
 
Shares
 
Aggregate Intrinsic Value
 
Weighted Average Remaining Contractual Life
 
Weighted Average Exercise Price
(in millions)
 
(in millions)
 
(in years)
 
 
(in millions)
 
(in millions)
 
(in years)
 
$22.82 — $25.00
0.7

 
$
7.1

 
4.8
 
$
23.50

 
0.7

 
$
7.1

 
4.8
 
$
23.50

$25.01 — $30.00
0.8

 
4.6

 
5.7
 
27.85

 
0.7

 
4.5

 
5.6
 
27.81

$30.01 — over
2.8

 
7.4

 
8.0
 
31.34

 
1.0

 
3.0

 
6.9
 
30.82

 
4.3

 
$
19.1

 
7.1
 
$
29.48

 
2.4

 
$
14.6

 
5.9
 
$
27.79
Weighted average estimated values and assumptions for employee stock option grants
The weighted average estimated values of employee stock option grants, as well as the weighted average assumptions that were used in calculating such values during fiscal years 2018, 2017 and 2016 were based on estimates at the date of grant as follows:
 
Year Ended March 31,
 
2018
 
2017
 
2016
Weighted average fair value
$
4.72

 
$
4.42

 
$
4.68

Dividend yield
3.17
%
 
3.56
%
 
3.37
%
Expected volatility factor (1)
21
%
 
22
%
 
23
%
Risk-free interest rate (2)
2.1
%
 
1.5
%
 
1.9
%
Expected life (in years) (3)
6.0

 
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 information on options exercised
The following table summarizes information on options exercised for the periods indicated:
 
Year Ended March 31,
(in millions)
2018
 
2017
 
2016
Cash received from options exercised
$
16

 
$
22

 
$
4

Intrinsic value of options exercised
$
3

 
$
5

 
$
1
Summary of RSA and RSU activity under the Plans
The following table summarizes the activity of RSAs and RSUs under the Plans:
 
RSAs
 
RSUs
 
Shares
 
Weighted Average Grant Date Fair Value
 
Shares
 
Weighted Average Grant Date Fair Value
 
(in millions)
 
 
(in millions)
 
Outstanding at March 31, 2015
4.3

 
$
27.99

 
1.4

 
$
25.74

Granted
2.8

 
30.59

 
0.9

 
28.72

Released
(2.1
)
 
27.95

 
(0.8
)
 
26.17

Forfeitures
(0.8
)
 
29.44

 
(0.2
)
 
26.88

Outstanding at March 31, 2016
4.2

 
$
29.51

 
1.3

 
$
27.35

Granted
2.9

 
31.56

 
1.0

 
30.17

Released
(2.1
)
 
29.27

 
(0.9
)
 
28.51

Forfeitures
(0.5
)
 
30.66

 
(0.1
)
 
28.71

Outstanding at March 31, 2017
4.5

 
$
30.83

 
1.3

 
$
28.67

Granted
3.0

 
31.76

 
1.1

 
30.47

Released
(2.3
)
 
30.51

 
(1.0
)
 
29.61

Forfeitures
(0.6
)
 
31.41

 
(0.1
)
 
29.31

Outstanding at March 31, 2018
4.6

 
$
31.52

 
1.3

 
$
29.47
Summary of RSAs and RSUs granted under 1-year PSUs for Incentive Plans
 
 
 
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
2017
1 year
 
0.6

 
$
31.69

 
0.1

 
$
30.69

2016
1 year
 
0.6

 
$
31.53

 
0.1

 
$
30.53

2015
1 year
 
0.5

 
$
31.41

 
0.1

 
$
30.42
Summary of shares of common stock issued under 3-year PSUs for Incentive Plans
Incentive Plans for Fiscal Years
Performance Period
 
Shares of Common Stock
(in millions)
 
Weighted Average Grant Date Fair Value
2015
3 years
 
0.4

 
$
31.69

2014
3 years
 
0.3

 
$
31.53

2013
3 years
 
0.1

 
$
31.41
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
2017
1 year
 
0.2

 
$
31.69

 
0.1

 
$
28.70

2016
1 year
 
0.3

 
$
31.53

 
0.1

 
$
28.52

2015
1 year
 
0.2

 
$
30.45

 
0.1

 
$
27.50