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STOCKHOLDERS' INVESTMENT, EARNINGS PER SHARE AND ACCUMULATED OTHER COMPREHENSIVE INCOME (Tables)
 12 Months Ended
Mar. 31, 2016
Stockholders' Equity Note [Abstract]  
Rollforward schedule of Common Stock
The following is a summary of changes in outstanding shares of Common Stock for the years ended March 31, 2016 and 2015: 
 
 
Shares
 
Weighted Average
Price Per Share
Outstanding as of March 31, 2014
 
35,708,469

 
 
Exercise of stock options
 
114,145

 
$
45.31

Issuance of restricted stock
 
176,609

 
73.73

Repurchases of Common Stock
 
(1,160,940
)
 
69.63

Other
 
91

 
67.47

Outstanding as of March 31, 2015
 
34,838,374

 
 
Issuance of restricted stock
 
138,369

 
45.69

Outstanding as of March 31, 2016
 
34,976,743

 
 
Schedule of antidilutive securities
Diluted earnings per common share excludes options to purchase shares and restricted stock awards, which were outstanding during the period but were anti-dilutive, as follows:
 
 
Fiscal Year Ended March 31,
 
 
2016
 
2015
 
2014
Options:
 
 
 
 
 
 
Outstanding
 
1,194,783

 
682,800

 
297,595

Weighted average exercise price
 
$
62.11

 
$
69.04

 
$
43.59

Restricted stock awards:
 
 
 
 
 
 
Outstanding
 
286,804

 
—

 
7,416

Weighted average price
 
$
37.27

 
$
—

 
$
70.90
Schedule of earnings per share
The following table sets forth the computation of basic and diluted earnings per share:
 
 
Fiscal Year Ended March 31,
 
 
2016
 
2015
 
2014
Earnings (in thousands):
 
 
 
 
 
 
Income (loss) available to common stockholders – basic
 
$
(73,940
)
 
$
84,300

 
$
186,737

Interest expense on assumed conversion of 3% Convertible Senior Notes, net of tax (1)
 
—

 
—

 
—

Income (loss) available to common stockholders – diluted
 
$
(73,940
)
 
$
84,300

 
$
186,737

Shares:
 
 
 
 
 
 
Weighted average number of common shares outstanding – basic
 
34,893,844

 
35,193,480

 
36,283,853

Assumed conversion of 3% Convertible Senior Notes outstanding during the period (1)
 
—

 
—

 
—

Net effect of dilutive stock options, restricted stock units and restricted stock awards based on the treasury stock method
 
—

 
335,125

 
412,911

Weighted average number of common shares outstanding – diluted
 
34,893,844

 
35,528,605

 
36,696,764

Basic earnings (loss) per common share
 
$
(2.12
)
 
$
2.40

 
$
5.15

Diluted earnings (loss) per common share
 
$
(2.12
)
 
$
2.37

 
$
5.09


_______________
(1) 
Diluted earnings per common share for fiscal years 2016, 2015 and 2014 excluded a number of potentially dilutive shares determined pursuant to a specified formula initially issuable upon the conversion of our 3% Convertible Senior Notes. The 3% Convertible Senior Notes were convertible, under certain circumstances, using a net share settlement process, into a combination of cash and our Common Stock. As of March 31, 2016, we had repurchased the $115.0 million principal amount of our 3% Convertible Senior Notes. Prior to the purchase, upon conversion of a note, the holder would have received cash equal to the principal amount of the note and Common Stock to the extent of the note’s conversion value in excess of such principal amount. In addition, if at the time of conversion the applicable price of our Common Stock exceeded the base conversion price, holders would have received additional shares of our Common Stock per $1,000 principal amount of notes, as determined pursuant to a specified formula. Such shares did not impact our calculation of diluted earnings per share for fiscal years 2016, 2015 and 2014 as our average stock price during these periods did not meet or exceed the conversion requirements. See Note 5 for further details.
Schedule of accumulated other comprehensive income
The following table sets forth the changes in the balances of each component of accumulated other comprehensive income:
 
 
Currency Translation Adjustments
 
Pension Liability Adjustments (1)
 
Total
Outstanding as of March 31, 2013
 
$
14,689

 
$
(214,372
)
 
$
(199,683
)
Other comprehensive income before reclassification
 
19,810

 
17,063

 
36,873

Reclassified from accumulated other comprehensive income
 
—

 
6,304

 
6,304

Net current period other comprehensive income
 
19,810

 
23,367

 
43,177

Foreign exchange rate impact
 
23,313

 
(23,313
)
 
—

Outstanding as of March 31, 2014
 
57,812

 
(214,318
)
 
(156,506
)
Other comprehensive income before reclassification
 
(76,845
)
 
(42,301
)
 
(119,146
)
Reclassified from accumulated other comprehensive income
 
—

 
5,323

 
5,323

Net current period other comprehensive income
 
(76,845
)
 
(36,978
)
 
(113,823
)
Foreign exchange rate impact
 
(20,033
)
 
20,033

 
—

Outstanding as of March 31, 2015
 
(39,066
)
 
(231,263
)
 
(270,329
)
Other comprehensive income before reclassification
 
(20,195
)
 
(5,583
)
 
(25,778
)
Reclassified from accumulated other comprehensive income
 
—

 
6,288

 
6,288

Net current period other comprehensive income
 
(20,195
)
 
705

 
(19,490
)
Foreign exchange rate impact
 
(8,104
)
 
8,104

 
—

Outstanding as of March 31, 2016
 
$
(67,365
)
 
$
(222,454
)
 
$
(289,819
)

_______________
(1) Reclassification of amounts related to pension liability adjustments were included as a component of net periodic pension cost.