XML 45 R22.htm IDEA: XBRL DOCUMENT

Stockholders' Equity	6 Months Ended
Stockholders' Equity	Sep. 30, 2019
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Cash Dividends During the three and six months ended September 30, 2019, the Board of Directors declared cash dividends to our stockholders of approximately $10 million ($0.06 per common share) and $20 million ($0.12 per common share), respectively. During the three and six months ended September 30, 2018, the Board of Directors declared cash dividends to our stockholders of approximately $8 million ($0.05 per common share) and $16 million ($0.10 per common share), respectively. The cash dividends were paid in the quarter following their declaration. On November 12, 2019, the Board of Directors declared a dividend of $0.06 per common share payable on January 14, 2020 to common stockholders of record at the close of business on December 4, 2019. Share Repurchase Program During the six months ended September 30, 2019, the Company repurchased 1,357,859 shares of its common stock for aggregate cost of $32 million, of which approximately $1 million was settled subsequent to the end of the period. The shares are reported as treasury stock at cost. The total remaining authorization for future common stock repurchases under the share repurchase program was $308 million as of September 30, 2019. Stock-based Compensation The Company recognized $10 million and $15 million in stock-based compensation expense during the three and six months ended September 30, 2019, respectively, compared to $1 million and $3 million for the three and six months ended September 30, 2018, respectively. During the six months ended September 30, 2019, the Company granted approximately 558 thousand time-based restricted stock units (“RSUs”) and approximately 923 thousand performance-based restricted stock units (“PSUs”). The RSUs and PSUs are valued using the closing price on the trading day of the grant. The weighted average grant date fair value of the RSUs and PSUs granted during the six months ended September 30, 2019 was $23.17 and $23.01, respectively.