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Tangible Equity Units
9 Months Ended
Dec. 31, 2021
Tangible Equity Units [Abstract]  
Tangible Equity Units 10. Tangible Equity Units In July 2019, we completed our offering of 5,750,000 TEUs. Total proceeds, net of underwriting discounts, were $278,875. Each TEU, which has a stated amount of $50, is comprised of a stock purchase contract and a senior amortizing note due June 30, 2022. Unless settled earlier, each purchase contract will automatically settle on June 30, 2022. Holders of the purchase contracts may elect to early settle prior to June 30, 2022, at the minimum settlement rate of 3.2051 shares of common stock per purchase contract, resulting in the holder receiving the minimum number of shares for that purchase contract. In the event of certain types of changes in control (including the consummation of the UHG Transaction) or other specified Reorganization Events (as defined in the TEU agreements), each outstanding purchase contract will convert to a contract entitling the holder to receive cash or other assets that holders of the Company’s common stock are entitled to receive in the Reorganization Event. The amount of cash or other assets each holder is entitled to following a Reorganization Event is based on the Applicable Market Value and the corresponding settlement rate in effect at the time.The following table summarizes TEU activity: Tangible Equity UnitsOutstanding at March 31, 2020 5,137,345Issued —Conversions —Outstanding at December 31, 2020 5,137,345Outstanding at March 31, 2021 4,833,645Issued —Conversions (779,325)Outstanding at December 31, 2021 4,054,320