Stockholders' Equity

12 Months Ended

Mar. 31, 2021

Equity [Abstract]

Stockholders' Equity

Note 13. 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. Through fiscal year 2021 and 2020, the Company has repurchased a total of 67,649 and 465,687 shares, respectively, at an aggregate cost of $11.3 million and $84.9 million, respectively. The remaining authorization under the stock repurchase program was $103.8 million as of March 31, 2021.

The following table provides stock repurchase activities:

	For the Year Ended March 31,
	2021		2020
Shares repurchased		67,649		465,687
Average price per share	$	167.19	$	182.27
Value of shares repurchased (in millions)	$	11.3	$	84.9

Accumulated Other Comprehensive Income (Loss)

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

	Foreign Currency Translation       Gains (Losses)			Unrealized Gains (Losses) on Investments			Unrealized Gains (Losses) on Derivative Instruments			Total
	(in $000's)
Balance, April 1, 2018		(3,597	)		(607	)		—			(4,204	)
Other comprehensive (loss) income		(11,431	)		946			—			(10,485	)
Balance, March 31, 2019		(15,028	)		339			—			(14,689	)
Other comprehensive income (loss)		(1,832	)		1,333			3,999			3,500
Balance, March 31, 2020		(16,860	)		1,672			3,999			(11,189	)
Other comprehensive (loss) income		2,142			(303	)		(2,095	)		(256	)
Balance, March 31, 2021	$	(14,718	)	$	1,369		$	1,904			(11,445	)