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Stockholders' Equity
 9 Months Ended
Dec. 31, 2013
Stockholders' Equity Note [Abstract]  
Stockholders' Equity
Stockholders’ Equity
Each share of the Company’s outstanding common stock is permitted one vote on proposals presented to stockholders and is entitled to share equally in any dividends declared by the Company’s Board of Directors (the “Board”).
In July 2013, the Company’s quarterly dividend was raised from $0.20 to $0.24 per common share for dividends declared on or after such date by the Board. The Company anticipates that it will continue to pay quarterly cash dividends in the future.  However, the payment and amount of future dividends remain within the discretion of the Board and will depend upon the Company's future earnings, financial condition, capital requirements and other factors.
In the fourth quarter of 2013, we entered into an accelerated share repurchase program with a third party financial institution to repurchase $150 million of the Company’s common stock. As of March 31, 2013, we had received 1.2 million shares representing the minimum number of shares due under this program.  This program was completed on April 17, 2013 and we received 0.2 million additional shares on April 22, 2013. The total number of shares repurchased under this program was 1.4 million shares at an average price per share of $107.63.
The total authorization outstanding for repurchases of the Company’s common stock was $340 million at December 31, 2013.
Other Comprehensive Income
Information regarding other comprehensive income, net of tax, by component are as follows:
 
Quarter Ended December 31,

Nine Months Ended December 31,
 (In millions)
2013

2012

2013

2012
Foreign currency translation adjustments
 
 
 
 
 
 
 
Foreign currency translation adjustments arising during period, net of income tax (benefit) of nil, ($4), nil and ($2)
$
(55
)
 
$
(16
)
 
$
(60
)
 
$
14

Reclassified to income statement, net of income tax expense of nil, nil, $24 and nil (1)
—

 
—

 
44

 
—

 
(55
)
 
(16
)
 
(16
)
 
14

 
 
 
 
 
 
 
 
Unrealized gains (losses) on cash flow hedges and other
 
 
 
 
 
 
 
Unrealized gains (losses) on cash flow hedges and other arising during period, net of income tax expense of nil, nil, nil and nil
(1
)
 
—

 
(2
)
 
2

 
 
 
 
 
 
 
 
Changes in retirement-related benefit plans
 
 
 
 
 
 
 
Amortization of actuarial loss, prior service cost and transition obligation, net of income tax expense of $4, $3, $10 and $8 (2)
3

 
5

 
16

 
14

Foreign currency translation adjustments, net of income tax expense of nil, nil, nil and nil
1

 
—

 
(2
)
 
—

Reclassified to income statement, net of income tax expense of nil, nil, $1 and nil
—

 
—

 
1

 
—

 
4

 
5

 
15

 
14

 
 
 
 
 
 
 
 
Other Comprehensive Income (Loss), net of tax
$
(52
)
 
$
(11
)
 
$
(3
)
 
$
30


(1)
As a result of our sale of our 49% equity interest in Nadro, foreign currency translation net losses of $44 million were reclassified from AOCI to other income, within our condensed consolidated statement of operations. Such losses were previously considered in our impairment evaluation of the investment when we committed to a plan to sell the investment during the fourth quarter of 2013, and accordingly did not impact the 2014 earnings period for the third quarter and first nine months of 2014.
(2)
Pre-tax amount was reclassified into cost of sales and operating expenses in the condensed consolidated statements of operations. The related tax expense (benefit) was reclassified into income tax expense in the condensed consolidated statements of operations.
Accumulated Other Comprehensive Income (Loss)
Information regarding changes in our accumulated other comprehensive income (loss), net of tax, by component are as follows:
(In millions)
Foreign
Currency
Translation
Adjustments,
Net of Tax
 
Unrealized
Losses on Cash
Flow Hedges and Other,
Net of Tax
 
Unrealized Net
Loss and Other
Components of
Benefit Plans,
Net of Tax
 
Total
Accumulated
Other
Comprehensive
Income (Loss)
Balance at March 31, 2013
$
136

 
$
(5
)
 
$
(196
)
 
$
(65
)
 
 
 
 
 
 
 
 
Other comprehensive income (loss) before reclassifications
(60
)
 
(2
)
 
14

 
(48
)
Amounts reclassified to earnings
44

 
—

 
1

 
45

Other comprehensive income (loss)
(16
)
 
(2
)
 
15

 
(3
)
Balance at December 31, 2013
$
120

 
$
(7
)
 
$
(181
)
 
$
(68
)