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Stockholders' Equity
 3 Months Ended
Jun. 30, 2019
Equity [Abstract]  
Stockholders' Equity Stockholders' Equity

Share repurchases

On April 3, 2017, DXC announced the establishment of a share repurchase program approved by the Board of Directors with an initial authorization of $2.0 billion for future repurchases of outstanding shares of DXC common stock. On November 8, 2018, DXC's Board of Directors approved an incremental $2.0 billion share repurchase authorization. An expiration date has not been established for this repurchase plan. Share repurchases may be made from time to time through various means, including in open market purchases, 10b5-1 plans, privately-negotiated transactions, accelerated stock repurchases, block trades and other transactions, in compliance with Rule 10b-18 under the Exchange Act as well as, to the extent applicable, other federal and state securities laws and other legal requirements. The timing, volume, and nature of share repurchases pursuant to the share repurchase plan are at the discretion of management and may be suspended or discontinued at any time.

As part of the share repurchase program, on June 13, 2019, DXC entered into an ASR agreement with a third-party financial institution. On June 26, 2019, DXC paid a third-party financial institution $200 million and received an initial settlement of 1,849,194 shares of common stock for $100 million at a weighted average price of $54.08 per share. The remaining $100 million prepayment is expected to be settled in August 2019.

The shares repurchased are retired immediately and included in the category of authorized but unissued shares. The excess of purchase price over par value of the common shares is allocated between additional paid-in capital and retained earnings. The details of shares repurchased are shown below:
Fiscal Year
 
Number of Shares Repurchased
 
Average Price Per Share
 
Amount (in millions)
First Quarter Fiscal 2020
 
 
 
 
 
 
Open market purchases
 
5,510,415

 
$
54.44

 
$
300

ASR
 
1,849,194

 
54.08

 
100

Total
 
7,359,609

 
$
54.35

 
$
400

First Quarter Fiscal 2019
 
 
 
 
 
 
Open market purchases
 
3,779,194

 
$
85.86

 
$
324

Total
 
3,779,194

 
$
85.86

 
$
324


Accumulated other comprehensive income (loss)

The following table shows the changes in accumulated other comprehensive income (loss), net of taxes:
(in millions)
 
Foreign Currency Translation Adjustments
 
Cash Flow Hedges
 
Available-for-sale Securities
 
Pension and Other Post-retirement Benefit Plans
 
Accumulated Other Comprehensive (Loss) Income
Balance at March 31, 2019
 
$
(517
)
 
$
(3
)
 
$
9

 
$
267

 
$
(244
)
Current-period other comprehensive income (loss)
 
(111
)
 
6

 
1

 
—

 
(104
)
Amounts reclassified from accumulated other comprehensive income
 
—

 
(2
)
 
—

 
(1
)
 
(3
)
Balance at June 30, 2019
 
$
(628
)
 
$
1

 
$
10

 
$
266

 
$
(351
)

(in millions)
 
Foreign Currency Translation Adjustments
 
Cash Flow Hedges
 
Available-for-sale Securities
 
Pension and Other Post-retirement Benefit Plans
 
Accumulated Other Comprehensive Income (Loss)
Balance at March 31, 2018
 
$
(261
)
 
$
9

 
$
9

 
$
301

 
$
58

Current-period other comprehensive loss
 
(342
)
 
(32
)
 
(1
)
 
—

 
(375
)
Amounts reclassified from accumulated other comprehensive loss
 
6

 
—

 
—

 
(1
)
 
5

Balance at June 30, 2018
 
$
(597
)
 
$
(23
)
 
$
8

 
$
300

 
$
(312
)