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Stockholders' Equity
 9 Months Ended
Dec. 31, 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, during the first quarter of fiscal 2020, DXC entered into an accelerated share repurchase ("ASR") agreement with a third-party financial institution by advancing $200 million including a $100 million prepayment. At inception, the ASR was initially settled by delivery of 1,849,194 shares of common stock to the Company. During the second quarter of fiscal 2020, DXC received an additional 1,805,350 shares of common stock. In total, 3,654,544 shares of common stock were repurchased under the ASR for $200 million, resulting in an average price paid of $54.73 per share.

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 2020
 
Fiscal 2019
Fiscal Period
 
Number of Shares Repurchased
 
Average Price Per Share
 
Amount (in millions)
 
Number of Shares Repurchased
 
Average Price Per Share
 
Amount (in millions)
1st Quarter
 
 
 
 
 
 
 
 
 
 
 
 
Open market purchases
 
5,510,415

 
$
54.44

 
$
300

 
3,779,194

 
$
85.86

 
$
324

ASR
 
1,849,194

 
54.08

 
100

 
—

 
—

 
—

1st Quarter Total
 
7,359,609

 
54.35

 
400

 
3,779,194

 
85.86

 
324

2nd Quarter
 
 
 
 
 
 
 
 
 
 
 
 
Open market purchases
 
4,414,840

 
33.96

 
150

 
1,448,729

 
87.16

 
127

ASR
 
1,805,350

 
55.39

 
100

 
—

 
—

 
—

2nd Quarter Total
 
6,220,190

 
40.18

 
250

 
1,448,729

 
87.16

 
127

3rd Quarter
 
 
 
 
 
 
 
 
 
 
 
 
Open market purchases
 
2,353,852

 
36.68

 
86

 
12,452,514

 
63.96

 
797

ASR
 
—

 
—

 
—

 
—

 
—

 
—

3rd Quarter Total
 
2,353,852

 
36.68

 
86

 
12,452,514

 
63.96

 
797

Total
 
15,933,651

 
$
46.21

 
$
736

 
17,680,437

 
$
70.58

 
$
1,248



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 loss
 
78

 
(4
)
 
2

 
—

 
76

Amounts reclassified from accumulated other comprehensive income (loss)
 
—

 
(2
)
 
—

 
(6
)
 
(8
)
Balance at December 31, 2019
 
$
(439
)
 
$
(9
)
 
$
11

 
$
261

 
$
(176
)

(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
 
(472
)
 
(25
)
 
(1
)
 
(23
)
 
(521
)
Amounts reclassified from accumulated other comprehensive loss
 
—

 
9

 
—

 
(10
)
 
(1
)
Balance at December 31, 2018
 
$
(733
)
 
$
(7
)
 
$
8

 
$
268

 
$
(464
)