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Stockholders' Equity (Tables)
 9 Months Ended
Dec. 31, 2011
Stockholders' Equity Note [Abstract]  
Changes In Stockholders' Equity
Changes in stockholders’ equity were as follows:

(In thousands of shares)
Shares of
Common
Stock $0.01
Par Value
 
Shares of
Treasury
Stock
Balance at March 31, 2011
86,591

 
6,995

Common stock issuance (a)
210

 
—

 Reissuance of treasury stock for stock option exercises
—

 
(848
)
Purchase of treasury stock (d)
—

 
4,465

Balance at December 31, 2011
86,801

 
10,611

 
(In thousands)
Common
Stock
 
Capital in
Excess of
Par Value
 
Retained
Earnings
 
Accumulated
Other
Comprehensive
Income
 
Treasury
Stock
 
Total
Stockholders’
Equity
 
Balance at March 31, 2011
$
866

 
$
607,593

 
$
1,498,728

 
$
7,580

 
$
(379,885
)
 
$
1,734,882

  
Comprehensive income:
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings
 
 
 
 
224,849

 
 
 
 
 
224,849

  
Foreign currency translation adjustments
 
 
 
 
 
 
(5,023
)
 
 
 
(5,023
)
 
Gain on derivative instruments
 
 
 
 
 
 
388

 
 
 
388

 
Tax effect of comprehensive income items
 
 
 
 
 
 
(144
)
 
 
 
(144
)
 
Total comprehensive income
 
 
 
 
 
 
 
 
 
 
220,070

(e) 
Common stock issuances and reissuances from treasury stock - employee benefit plans (b) 
2

 
(3,548
)
 
(11,013
)
 
 
 
48,810

 
34,251

  
Tax benefit from stock option exercises
 
 
9,404

 
 
 
 
 
 
 
9,404

  
Dividends paid on common stock ($0.93 per share)
 
 
 
 
(70,819
)
 
 
 
 
 
(70,819
)
 
Stock-based compensation (c)
 
 
21,352

 
 
 
 
 
 
 
21,352

 
Purchase of treasury stock (d)
 
 
 
 
 
 
 
 
(300,000
)
 
(300,000
)
 
Balance at December 31, 2011
$
868

 
$
634,801

 
$
1,641,745

 
$
2,801

 
$
(631,075
)
 
$
1,649,140

 


____________________
(a) 
Issuance of common stock for purchases through the Employee Stock Purchase Plan.
(b) 
Issuance of common stock for purchases through the Employee Stock Purchase Plan and reissuance of treasury stock for stock option exercises.
(c) 
The Company recognized compensation expense with a corresponding amount recorded to capital in excess of par value.
(d) 
As of December 31, 2011, the Company had completed a $300 million share repurchase authorization announced on May 5, 2011, repurchasing 4.5 million shares on the open market at an average price of $67.19.
(e) 
The Company’s comprehensive income was $220 million and $189 million for the nine months ended December 31, 2011 and 2010, respectively. Comprehensive income consists of net earnings, foreign currency translation adjustments, net gain on derivative instruments designated as cash flow hedges and the net tax effect of other comprehensive income items. Net tax effect of comprehensive income items pertains to the Company’s derivative instruments only, as foreign currency translation adjustments relate to permanent investments in foreign subsidiaries. The net gain on derivative instruments reflects reclassification adjustments to income.
Gross And Net Changes In "Accumulated Other Comprehensive Income"
The table below presents the gross and net changes in the balances within each component of AOCI for the nine months ended December 31, 2011.

(In thousands)
Foreign Currency
Translation
Adjustment
 
Treasury Rate
Lock Agreement
 
Total Accumulated
Other Comprehensive
Income
Balance at March 31, 2011
$
9,047

 
$
(1,467
)
 
$
7,580

Foreign currency translation adjustments
(5,023
)
 
 
 
(5,023
)
Derivative instruments:
 
 
 
 
 
Reclassification adjustments to income
 
 
388

 
388

Tax effect of comprehensive income items
 
 
(144
)
 
(144
)
Net change after tax of comprehensive income items
(5,023
)
 
244

 
(4,779
)
Balance at December 31, 2011
$
4,024

 
$
(1,223
)
 
$
2,801