Stockholders' Equity

9 Months Ended

Dec. 31, 2019

Equity [Abstract]

Stockholders' Equity

Note 10. Stockholders’ Equity

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 (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. Through December 31, 2019, the Company has repurchased a total of 318,361 shares for $59.9 million under the stock repurchase program. The remaining authorization under the stock repurchase program was $140.1 million as of December 31, 2019.

The following table provides share repurchase activities:

	For the Three Months Ended December 31,				For the Nine Months Ended December 31,
	2019		2018		2019		2018
Shares repurchased		137,432		—		318,361		—
Average price per share	$	181.94		—	$	188.08		—
Value of shares repurchased (in millions)	$	25.0		—	$	59.9		—

Accumulated Other Comprehensive Income (Loss)

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

	Nine Months Ended December 31, 2019
	Foreign Currency Items			Unrealized Gains and Losses on Investments			Gains and Losses on cash flow hedge			Total
Balance, April 1, 2019		(15,028	)		339			—			(14,689	)
Other comprehensive income (loss)		2,334			600			—			2,934
Balance, June 30, 2019		(12,694	)		939			—			(11,755	)
Other comprehensive income (loss)		(5,716	)		(85	)		—			(5,801	)
Balance, September 30, 2019		(18,410	)		854			—			(17,556	)
Other comprehensive income (loss)		1,945			8			(1,392	)		561
Balance, December 31, 2019	$	(16,465	)	$	862		$	(1,392	)	$	(16,995	)

	Nine Months Ended December 31, 2018
	Foreign Currency Items			Unrealized Gains and Losses on Investments			Gains and Losses on cash flow hedge		Total
Balance, April 1, 2018		(3,597	)		(607	)		—		(4,204	)
Other comprehensive income (loss)		(6,852	)		143			—		(6,709	)
Balance, June 30, 2018		(10,449	)		(464	)		—		(10,913	)
Other comprehensive income (loss)		(600	)		(22	)		—		(622	)
Balance, September 30, 2018		(11,049	)		(486	)		—		(11,535	)
Other comprehensive income (loss)		(1,015	)		234			—		(781	)
Balance, December 31, 2018	$	(12,064	)	$	(252	)	$	-	$	(12,316	)