Stockholders' Equity

12 Months Ended

Mar. 31, 2021

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Stockholders’ Equity

Stock Repurchase Programs. In January 2019, the Company’s Board of Directors approved a stock repurchase program that authorized the Company to repurchase a total of up to $261,000 of its common stock in the open market or in privately negotiated transactions, subject to market conditions, applicable legal requirements, and other factors (the stock repurchase program).

As of March 31, 2021, the aggregate remaining approved amount under the Company’s stock repurchase program was $60,660. The Company’s current revolving credit agreements allow it to make stock repurchases under this program, as long as the Company does not exceed certain leverage ratios and no event of default has occurred under this arrangement.

Stock repurchase activity under the Company’s stock repurchase program, was as follows:

	Years Ended March 31,
	2021		2020		2019
Total number of shares repurchased*	307,080		1,296,201		1,400,699
Average price paid per share	$	322.87	$	146.89	$	115.22
Dollar value of shares repurchased	$	99,147	$	190,405	$	161,395

*Any stock repurchases are made as part of publicly announced programs in open-market transactions.

The Company’s Board of Directors approved an additional authorization of $750,000 during April 2021 for the Company to repurchase its common stock under the same conditions as the prior stock repurchase program. Subsequent to March 31, 2021 through May 13, 2021, the Company repurchased 70,881 shares for $23,466 at an average price of $331.06 per share, and had $787,194 remaining authorized under the stock repurchase program. The Company’s stock repurchase program does not obligate it to acquire any particular amount of common stock and may be suspended at any time at the Company’s discretion.

Accumulated Other Comprehensive Loss. The components within AOCL recorded in the consolidated balance sheets, were as follows:

	As of March 31,
	2021		2020
Cumulative foreign currency translation loss	$	(16,743)	$	(25,559)
Total	$	(16,743)	$	(25,559)