Stockholders' Equity

3 Months Ended

Jun. 30, 2020

Equity [Abstract]

Stockholders' Equity

Note 11. 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 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. During the three months ended June 30, 2020, the Company has repurchased a total of 67,649 shares for $11.3 million under the stock repurchase program. The remaining authorization under the stock repurchase program was $103.8 million as June 30, 2020.

The following table provides stock repurchase activities during the quarter:

	For the Three Months Ended June 30,
	2020		2019
Shares repurchased		67,649		—
Average price per share	$	167.19		—
Value of shares repurchased (in millions)	$	11.3		—

Accumulated Other Comprehensive Income (Loss)

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

	Three Months Ended June 30, 2020
	Foreign Currency Translation Gains (Losses)			Unrealized Gains on Investments		Gains (Losses) on Derivative Instruments			Total
Balance, April 1, 2020		(16,860	)		1,672		3,999			(11,189	)
Other comprehensive income (loss)		1,360			1,755		(461	)		2,654
Balance, June 30, 2020		(15,500	)		3,427		3,538			(8,535	)

	Three Months Ended June 30, 2019
	Foreign Currency Translation Gains (Losses)			Unrealized Gains on Investments		Gains (Losses) on Derivative Instruments		Total
Balance, April 1, 2019		(15,028	)		339		—		(14,689	)
Other comprehensive income (loss)		2,334			600		—		2,934
Balance, June 30, 2020		(12,694	)		939		—		(11,755	)