Stockholders' Equity

3 Months Ended

Jun. 30, 2022

Equity [Abstract]

Stockholders' Equity

Note 12. Stockholders’ Equity

Class B Preferred Stock

The Company has authorized 1,000,000 shares of Class B Preferred Stock, $.01 par value, of which the board of directors can set the designation, rights and privileges. No shares of Class B Preferred Stock have been issued or are outstanding.

Stock Repurchase Program

In August 2019, the Company’s Board of Directors authorized a stock repurchase program for up to $200.0 million of shares of its common stock. Under this stock repurchase program, the Company is authorized to repurchase shares through open market purchases, privately negotiated transactions or otherwise in accordance with applicable federal securities laws, including through Rule 10b5-1

trading plans and under Rule 10b-18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). The stock repurchase program has no time limit and may be suspended for periods or discontinued at any time. The Company is funding the stock repurchase program with its available cash and marketable securities. The remaining authorization under the stock repurchase program was $89.3 million as of June 30, 2022.

The following table provides stock repurchase activities during the quarter:

	For the Three Months Ended June 30,
	2022		2021
Shares repurchased		60,282		—
Average price per share	$	240.79		—
Value of shares repurchased (in millions)	$	14.5		—

Accumulated Other Comprehensive Loss

The components of accumulated other comprehensive loss are as follows (in thousands):

	Three Months Ended June 30, 2022
	Foreign Currency Translation Losses			Unrealized Gains (Losses) on Derivative Instrument			Net Unrealized Losses on Marketable Securities, net of tax			Total
Balance, March 31, 2022	$	(20,562	)	$	125		$	(6,723	)	$	(27,160	)
Other comprehensive loss		(8,729	)		(384	)		(1,998	)		(11,111	)
Balance, June 30, 2022		(29,291	)		(259	)		(8,721	)		(38,271	)

	Three Months Ended June 30, 2021
	Foreign Currency Translation (Losses) Gains			Unrealized Gains (Losses) on Derivative Instrument			Net Unrealized Gains (Losses) on Marketable Securities, net of tax			Total
Balance, March 31, 2021	$	(14,718	)	$	1,904		$	1,369		$	(11,445	)
Other comprehensive income (loss)		83			(217	)		(632	)		(766	)
Balance, June 30, 2021		(14,635	)		1,687			737			(12,211	)