Stockholders' Equity

9 Months Ended

Dec. 31, 2021

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 (the “Board”) 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 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.

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. There was no share repurchase activity during the nine months ended December 31, 2020. The details of shares repurchased during the nine months ended December 31, 2021 are shown below:

	Fiscal 2022
Fiscal Period	Number of Shares Repurchased	Average Price Per Share		Amount (in millions)
1st Quarter	1,750,000	$	38.52	$	67
2nd Quarter	2,112,212	$	39.10	83
3rd Quarter	6,755,555	$	31.48	213
Total	10,617,767	$	34.15	$	363

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		Pension and Other Post-retirement Benefit Plans		Accumulated Other Comprehensive Income (Loss)
Balance at March 31, 2021	$	(554)	$	(1)	$	253	$	(302)
Other comprehensive income before reclassifications	—		12		—		12
Amounts reclassified from accumulated other comprehensive loss(1)	(86)		(3)		(6)		(95)
Balance at December 31, 2021	$	(640)	$	8	$	247	$	(385)

(1)Includes net cumulative foreign currency translation losses of $86 million upon sale of foreign entities primarily related to the HPS business divestiture. See Note 4 – “Divestitures” for additional information.

(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, 2020	$	(851)	$	(20)	$	9	$	259	$	(603)
Other comprehensive income (loss) before reclassifications	197		12		(6)		—		203
Amounts reclassified from accumulated other comprehensive income (loss)	—		6		—		(13)		(7)
Balance at December 31, 2020	$	(654)	$	(2)	$	3	$	246	$	(407)