Stock-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2020

Share-based Payment Arrangement [Abstract]

Summary of Stock-based Compensation Expense Recognized in the Consolidated Statements of Operations

The following table summarizes stock-based compensation expense recognized in the consolidated statements of operations: 

	Fiscal Year Ended March 31,
	2020		2019		2018
Cost of revenue	$	16,272	$	8,990	$	7,771
General and administrative expenses	27,018		22,285		15,547
Total	$	43,290	$	31,275	$	23,318

The following table summarizes the total stock-based compensation expense recognized in the consolidated statements of operations by the following types of equity awards:

	Fiscal Year Ended March 31,
	2020		2019		2018
Equity Incentive Plan Options	$	2,741	$	2,374	$	2,036
Restricted Stock Awards	40,549		28,901		21,282
Total	$	43,290	$	31,275	$	23,318

Schedule of Unrecognized Compensation Cost

Absent the effect of accelerating stock compensation cost for any departures of employees who may continue to vest in their equity awards, the following tables summarize the unrecognized compensation cost, the weighted average period the cost is expected to be amortized, and the estimated annual compensation cost for the future periods indicated below (excludes any future award): 

	Unrecognized Compensation Cost				Weighted Average Remaining Period to be Recognized
	March 31, 2020		March 31, 2019		March 31, 2020	March 31, 2019
Equity Incentive Plan Options	$	3,721	$	3,501	3.57	3.61
Restricted Stock Awards	29,738		24,259		1.78	1.75
Total	$	33,459	$	27,760

	Total Unrecognized Compensation Cost
	Total		2021		2022		2023		2024		2025
Equity Incentive Plan Options	$	3,721	$	1,872	$	1,100	$	543	$	190	$	16
Restricted Stock Awards	29,738		20,428		9,104		161		45		—
Total	$	33,459	$	22,300	$	10,204	$	704	$	235	$	16

Schedule of Black Scholes Weighted Average Assumptions

The weighted average assumptions used in the Black-Scholes option-pricing model for stock option awards were as follows:

	For The Fiscal Year Ended March 31,
	2020			2019			2018
Dividend yield	2.17		%	2.01		%	1.90		%
Expected volatility	24.74		%	25.83		%	33.04		%
Risk-free interest rate	2.11		%	2.81		%	1.81		%
Expected life (in years)	5.00			5.00			5.00
Weighted-average grant date fair value	$	12.39		$	9.67		$	9.35

Schedule of Unvested Restricted Stock Activity

The following table summarizes unvested restricted stock activity for the periods presented:

	Number of Shares	Weighted Average Grant Date Fair Value
Unvested Restricted Stock Awards
Unvested at March 31, 2019	932,781	38.19
Granted	620,207	64.00
Vested	612,321	45.53
Forfeited	53,231	45.81
Unvested at March 31, 2020	887,436	50.72

Share-based Payment Arrangement, Option, Activity

The following table summarizes stock option activity for the periods presented: 

	Number of Options	Weighted Average Exercise Price
Equity Incentive Plan Options
Options outstanding at March 31, 2019	2,091,355	$	25.83	*
Granted	270,332	63.80
Forfeited	32,658	34.99
Expired	—	—
Exercised	575,890	15.50
Options outstanding at March 31, 2020	1,753,139	$	34.91	*

* Reflects exercise price adjustment of $6.36 per grant for the $6.50 dividend per share issued on July 30, 2012.

The following table summarizes unvested stock options for the periods presented: 

	Number of Options	Weighted Average Grant Date Fair Value
Equity Incentive Plan Options
Unvested at March 31, 2019	608,613	$	9.04
Granted	270,332	12.39
Vested	265,970	9.14
Forfeited	32,658	8.85
Unvested at March 31, 2020	580,317	$	10.56

The following table summarizes stock options outstanding at March 31, 2020: 

Range of exercise prices (1)	Stock Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Intrinsic Value		Stock Options Exercisable	Weighted Average Exercise Price	Weighted Average Remaining Contractual Life	Intrinsic Value
				(In years)					(In years)
Equity Incentive Plan
$9.71 - $78.55	1,753,139	$34.91	(1)	6.06	$	59,128	1,172,822	$27.65	4.91	$48,073

(1) Reflects exercise price adjustment of $6.36 per grant for the $6.50 dividend per share issued July 30, 2012.