Stockholder's Equity

9 Months Ended

Dec. 31, 2016

Stockholders' Equity Note [Abstract]

Stockholder's Equity

Stockholder's Equity

Accumulated Other Comprehensive Income

The components of AOCI consisted of the following for the periods presented:

	December 31, 2016			March 31, 2016
Foreign Currency Translation Adjustment	$	(5,132	)	$	1,113
Derivative Instruments	(336		)	(255		)
Defined Benefit Pension	(13,942		)	(13,933		)
Accumulated other comprehensive income	$	(19,410	)	$	(13,075	)

Dividends

The following table presents information about the Company's dividend program:

Period	Record Date	Payment Date	Rate		Aggregate Value
3Q17	December 30, 2016	January 13, 2017	$	0.12	$	1,818
2Q17	September 30, 2016	October 14, 2016	$	0.12	$	1,818
1Q17	July 1, 2016	July 15, 2016	$	0.12	$	1,811
4Q16	March 31, 2016	April 14, 2016	$	0.11	$	1,652
3Q16	December 24, 2015	January 8, 2016	$	0.11	$	1,694
2Q16	September 25, 2015	October 9, 2015	$	0.11	$	1,692
1Q16	June 26, 2015	July 10, 2015	$	0.11	$	1,691

While the Company expects to continue to declare quarterly dividends, the payment of future dividends is at the discretion of the Company's Board of Directors (the "Board") and the timing and amount of any future dividends will depend upon earnings, cash requirements and the financial condition of the Company. Under the Credit Agreement, the Company is permitted to make regular quarterly dividends not exceeding $15,000 per year as long as no Event of Default or Potential Default (as defined in the Credit Agreement) shall have occurred and is continuing or shall occur as a result thereof. In addition, the Company is permitted to make other distributions or dividends if such event would not violate a 3.00 to 1.00 consolidated leverage ratio under the Credit Agreement.

Common Stock Repurchases

The following table presents information about the Company's common stock repurchases:

	Three-months ended				Nine-months ended
	December 31				December 31
	2016		2015		2016		2015
Shares of common stock purchased	—		3,292		39,735		144,816
Aggregate purchase price	$	—	$	49	$	477	$	2,844
Average purchase price	$	—	$	14.88	$	12.01	$	19.64

During the nine-month period ended December 31, 2016, the Company made tax payments of $477 and withheld 39,735 shares of common stock, which were designated as treasury shares, at an average price per share of $12.01, in order to satisfy employee income taxes due as a result of the vesting of certain restricted stock units. During the nine-month period ended December 31, 2015, the Company made tax payments of $844 and withheld 43,468 shares of common stock, which were designated as treasury shares, at an average price per share of $19.42, in order to satisfy employee income taxes due as a result of the vesting of certain restricted stock units.

Since the inception of its repurchase programs beginning in April 1999 and through December 31, 2016, the Company has repurchased 11,194,933 shares of common stock for an aggregate purchase price of $406,661, or an average purchase price per share of $36.33. These shares do not include the treasury shares withheld for tax payments due upon the vesting of certain restricted stock units and performance shares. As of December 31, 2016, 1,305,067 shares were available under the most recent repurchase programs. Additional repurchases of common stock may occur from time to time depending upon factors such as the Company’s cash flows and general market conditions. There can be no assurance as to the timing or amount of such repurchases. Under the Credit Agreement, the Company is permitted to repurchase its common stock as long as no Event of Default or Potential Default (as defined in the Credit Agreement) shall have occurred and is continuing or shall occur as a result thereof. In addition, no repurchase of common stock is permitted, with certain exceptions, under the Credit Agreement if the Company's consolidated leverage ratio (based on EBITDA) exceeds 3.00. At December 31, 2016, the Company's leverage ratio was 2.69.