Common Stock and Stock Plans (Tables)

12 Months Ended

Mar. 31, 2022

Equity [Abstract]

Summary of Stock-based Compensation Expense

Total stock-based compensation expense recognized in accordance with the authoritative guidance for share-based payments was as follows:

	Fiscal Years Ended
	March 31, 2022			March 31, 2021			March 31, 2020
	(In thousands)
Stock-based compensation expense before taxes	$	86,808		$	84,879		$	86,553
Related income tax benefits		(20,228	)		(19,485	)		(20,388	)
Stock-based compensation expense, net of taxes	$	66,580		$	65,394		$	66,165

Summary of Employee Stock Options and Employee Stock Purchase Plan Weighted Average Assumptions

The weighted average assumptions (annualized percentages) used in the Black-Scholes model and Monte Carlo simulation were as follows:

	Stock Options									TSR Performance Stock Options									Employee Stock Purchase Plan
	Fiscal Year 2022			Fiscal Year 2021			Fiscal Year 2020			Fiscal Year 2022			Fiscal Year 2021			Fiscal Year 2020			Fiscal Year 2022			Fiscal Year 2021			Fiscal Year 2020
Volatility		49.5	%		39.1	%		27.9	%		42.5	%		39.8	%		27.7	%		42.1	%		64.8	%		24.6	%
Risk-free interest rate		0.4	%		0.2	%		1.3	%		1.2	%		0.4	%		1.7	%		0.1	%		0.1	%		1.8	%
Dividend yield		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Expected life	3.2 years			5.0 years			5.0 years			5.0 years			5.0 years			5.0 years			0.5 years			0.5 years			0.5 years

Summary of Stock Option Activity and TSR Performance Stock Option Activity

A summary of stock option activity for fiscal year 2022 is presented below:

	Number of Shares			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term in Years		Aggregate Intrinsic Value (In thousands)
Outstanding at March 31, 2021		956,733		$	65.18
Options granted		99,222			79.41
Options expired		(388,119	)		62.61
Options exercised		(27,107	)		56.33
Outstanding at March 31, 2022		640,729		$	69.32		1.6	$	483
Vested and exercisable at March 31, 2022		598,994		$	70.58		1.3	$	431

A summary of TSR performance stock option activity for fiscal year 2022 is presented below:

	Number of Shares (1)			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term in Years		Aggregate Intrinsic Value (In thousands)
Outstanding at March 31, 2021		2,415,459		$	59.87
TSR performance options granted		599,292			53.43
TSR performance options canceled		(578,764	)		70.50
TSR performance options exercised		—			—
Outstanding at March 31, 2022		2,435,987		$	55.76		4.2	$	9,690
Vested and exercisable at March 31, 2022		—		$	—		—	$	—

(1) Number of shares is based on the target number of options under each TSR performance stock option.

Summary of Restricted Stock Unit Activity

A summary of restricted stock unit activity for fiscal year 2022 is presented below:

	Number of Restricted Stock Units			Weighted Average Grant Date Fair Value per Share
Outstanding at March 31, 2021		3,431,561		$	53.44
Awarded		2,080,700			52.85
Forfeited		(217,024	)		52.93
Vested		(1,274,311	)		58.65
Outstanding at March 31, 2022		4,020,926		$	51.51
Vested and deferred at March 31, 2022		194,641		$	48.96