Common Stock and Stock Plans (Tables)

12 Months Ended

Mar. 31, 2024

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, 2024			March 31, 2023			March 31, 2022
	(In thousands)
Stock-based compensation expense before taxes	$	83,631		$	82,112		$	84,981
Related income tax benefits		(5,292	)		(17,238	)		(19,809	)
Stock-based compensation expense, net of taxes	$	78,339		$	64,874		$	65,172

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									Market-based Performance Stock Options									Employee Stock Purchase Plan
	Fiscal Year 2024			Fiscal Year 2023			Fiscal Year 2022			Fiscal Year 2024			Fiscal Year 2023			Fiscal Year 2022			Fiscal Year 2024			Fiscal Year 2023			Fiscal Year 2022
Volatility		54.2	%		46.4	%		49.5	%		56.4	%		49.9	%		42.5	%		66.6	%		60.5	%		42.1	%
Risk-free interest rate		4.2	%		3.4	%		0.4	%		4.4	%		3.8	%		1.2	%		5.3	%		3.4	%		0.1	%
Dividend yield		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Expected life	5.0 years			5.0 years			3.2 years			4.6 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 2024 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, 2023		236,496		$	62.53
Options granted		58,000			31.00
Options expired		(69,914	)		71.12
Options exercised		(2,633	)		31.28
Outstanding at March 31, 2024		221,949		$	51.95		3.2	$	—
Vested and exercisable at March 31, 2024		163,949		$	59.36		2.4	$	—

A summary of market-based performance stock option activity for fiscal year 2024 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, 2023		2,407,312		$	48.06
Market-based performance options granted		1,513,923			19.72
Market-based performance options canceled		(564,252	)		71.83
Market-based performance options exercised		—			—
Outstanding at March 31, 2024		3,356,983		$	31.29		4.4	$	2,568,780
Vested and exercisable at March 31, 2024		—		$	—		—	$	—

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

Summary of Restricted Stock Unit Activity

A summary of restricted stock unit activity for fiscal year 2024 is presented below:

	Number of Restricted Stock Units			Weighted Average Grant Date Fair Value per Share
Outstanding at March 31, 2023		4,465,147		$	43.00
Awarded		1,451,667			29.21
Forfeited		(352,651	)		40.89
Vested		(1,543,429	)		45.86
Outstanding at March 31, 2024		4,020,734		$	37.11
Vested and deferred at March 31, 2024		207,785		$	51.71