Treasury Stock

12 Months Ended

Mar. 31, 2020

Equity [Abstract]

Treasury Stock

Note 8 — Treasury Stock

During each of the three fiscal years ended March 31, 2020, the Company continued to repurchase shares of its common stock under a program originally approved by the Company’s Board of Directors in 1996. The total number of shares of common stock authorized to be repurchased over the life of the program is 37,000,000 shares of common stock.  On March 21, 2020, the Company temporarily suspended its stock repurchase program in order to provide the Company maximum flexibility to focus on serving its customers as it navigates through the COVID-19 pandemic. The Company has lifted this temporary suspension and expects to resume its stock repurchase program in the June 2020 quarter.  Purchases may be made from time to time depending on market conditions and other relevant factors. The share repurchases for the fiscal years ended March 31, 2020, 2019 and 2018 and cumulatively since inception of the authorization, are as follows:

	2020		2019		2018		Cumulative
Shares repurchased		822,353		582,159		249,245		36,285,591
Cost	$	65,608,000	$	35,167,000	$	11,187,000	$	531,763,000
Average price	$	79.78	$	60.41	$	44.88	$	14.65