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Stock Incentive Plans
 9 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Stock Incentive Plans Stock Incentive Plans
Equity Plans

The Compensation Committee of the Board of Directors has broad authority to grant awards and otherwise administer the DXC Employee Equity Plan. The plan became effective March 30, 2017 and will continue in effect for a period of 10 years thereafter, unless terminated earlier by the Board. The Board has the authority to amend the plan in such respects as it deems desirable, subject to approval of DXC’s stockholders for material modifications.

Restricted stock units (“RSUs”) represent the right to receive one share of DXC common stock upon a future settlement date, subject to vesting and other terms and conditions of the award, plus any dividend equivalents accrued during the award period. In general, if the employee’s status as a full-time employee is terminated prior to the vesting of the RSU grant in full, then the RSU grant is automatically canceled on the termination date and any unvested shares and dividend equivalents are forfeited. Certain executives were awarded service-based “career share” RSUs for which the shares are settled on the 10th anniversary following the executive’s separation from service as a full-time employee, provided the executive complies with certain non-competition covenants during that period. The Company also grants Performance-based restricted stock units (“PSUs”), which generally vest over a period of three years. The number of PSUs that ultimately vest is dependent upon the Company’s achievement of certain specified financial performance criteria over a three-year period. If the specified performance criteria are met, awards are settled for shares of DXC common stock and dividend equivalents upon the filing with the SEC of the Annual Report on Form 10-K for the last fiscal year of the performance period. PSU awards include the potential for 25% of the shares granted to be earned after the first and second fiscal years if certain of the Company’s performance targets are met early, subject to vesting based on the participant’s continued employment through the end of the three-year performance period.
Beginning in fiscal 2021, DXC issued awards that are considered to have a market condition. A Monte Carlo simulation model was used for the valuation of the grants. Settlement of shares for these PSU awards will be made at the end of the third fiscal year subject to certain compounded annual growth rates of the stock price and continued employment through the last day of the third fiscal year.

The terms of the DXC Director Equity Plan allow DXC to grant RSU awards to non-employee directors of DXC. Such RSU awards vest in full at the earlier of (i) the first anniversary of the grant date or (ii) the next annual meeting date, and are automatically redeemed for DXC common stock and dividend equivalents either at that time or, if an RSU deferral election form is submitted, upon the date or event elected by the director. Distributions made upon a director’s separation from the Board may occur in either a lump sum or in annual installments over periods of 5, 10, or 15 years, according to the director’s election. In addition, RSUs vest in full upon a change in control of DXC.

The DXC Share Purchase Plan allows DXC’s employees located in the United Kingdom to purchase shares of DXC’s common stock at the fair market value of such shares on the applicable purchase date. There were 7,437 and 21,619 shares purchased under this plan during the three and nine months ended December 31, 2021.

The Board has reserved for issuance shares of DXC common stock, par value $0.01 per share, under each of the plans as detailed below:

As of December 31, 2021
Reserved for
Issuance		Available for
Future Grants
DXC Employee Equity Plan51,200,000 31,106,625 
DXC Director Equity Plan745,000 361,651 
DXC Share Purchase Plan250,000 133,689 
Total52,195,000 31,601,965 

Stock Options
Number
of Option Shares
Weighted Average Exercise Price
Weighted Average Remaining Contractual Term
Aggregate Intrinsic Value
(in millions)
Outstanding as of March 31, 20211,675,580 $30.43 3.61$8 
Granted— $— 
Exercised(450,347)$24.12 $6 
Canceled/Forfeited— $— 
Expired(52,413)$36.33 
Outstanding as of December 31, 20211,172,820 $32.59 3.16$5 
Vested and exercisable as of December 31, 20211,172,820 $32.59 3.16$5 

Restricted Stock

Employee Equity PlanDirector Equity Plan
Number of
Shares		Weighted Average Grant Date
Fair Value		Number of
Shares
Weighted Average Grant Date
Fair Value
Outstanding as of March 31, 20218,326,220 $28.98 184,660 $28.42 
Granted2,922,936 $51.19 74,300 $35.18 
Settled(1,848,242)$33.47 (102,238)$21.43 
Canceled/Forfeited(1,366,605)$36.32 — $— 
Outstanding as of December 31, 20218,034,309 $35.83 156,722 $36.18 
Share-Based Compensation

Three Months EndedNine Months Ended
(in millions)December 31, 2021December 31, 2020December 31, 2021December 31, 2020
Total share-based compensation cost$26 $6 $77 $42 
Related income tax benefit $4 $2 $11 $7 
Total intrinsic value of options exercised$— $— $6 $— 
Tax benefits from exercised stock options and awards$— $1 $15 $5 

As of December 31, 2021, total unrecognized compensation expense related to unvested DXC RSUs, net of expected forfeitures was $182 million. The unrecognized compensation expense for unvested RSUs is expected to be recognized over a weighted-average period of 1.98 years.