TREASURY STOCK

6 Months Ended

Sep. 30, 2021

Equity [Abstract]

TREASURY STOCK

TREASURY STOCK

On October 24, 2017, the Company's Board of Directors approved a share repurchase program that enables the Company to repurchase up to twenty-five million shares of its common stock. This program became effective when the Company's previously disclosed twenty million share repurchase program was completed. The Company is not obligated to acquire any specific amount of common stock within any particular timeframe as a result of this share repurchase program. 

Through September 30, 2021, the Company repurchased 18,832,139 shares for $496.6 million in the open market under the twenty-five million share repurchase program. At September 30, 2021, 6,167,861 shares of common stock remained

available to be purchased under the current repurchase program. The Company repurchased 921,299 shares for $24.6 million under the twenty-five million share repurchase program during the six months ended September 30, 2021. There were no share repurchases during the six months ended September 30, 2020.

In connection with the delivery of shares of the Company's common stock upon vesting of restricted stock units, the Company withheld 523,539 shares and 481,739 shares at a cost of $15.0 million and $12.6 million, respectively, related to minimum statutory tax withholding requirements on these restricted stock units during the six months ended September 30, 2021 and 2020, respectively. These withholding transactions do not fall under the repurchase program described above, and therefore do not reduce the number of shares that are available for repurchase under that program.