Stock-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2022

Stock-Based Compensation [Abstract]

Assumptions Used in Determining Fair Value of Options

The Company estimated the fair value of option awards on the date of grant using the Black-Scholes option valuation model and the following assumptions:

	Years ended March 31,
	2022			2021			2020
Fair value of options	$	8.79		$	3.46		$	5.56
Expected life of awards in years		6.1			6.1			6.3
Risk-free interest rate		1.1	%		0.4	%		2.2	%
Expected volatility of the Company’s stock		56.5	%		54.1	%		39.2	%
Expected dividend yield on the Company’s stock		0.0	%		0.0	%		0.0	%

Stock Option Activity

A summary of stock option activity for fiscal 2022 was as follows:

	Shares			Weighted-average exercise price		Weighted-average remaining contractual term (years)		Aggregate intrinsic value
Outstanding, beginning of year		1.1		$	11.63
Granted		0.2			16.64
Exercised		(0.1	)		13.72
Forfeited or expired		(0.2	)		13.51
Outstanding, end of year		1.0		$	12.12		6.8	$	0.7
Exercisable, March 31, 2022		0.5		$	12.47		5.1	$	0.2

Information Related to Stock Options Exercised

Additional information related to stock options exercised is as follows:

	Years ended March 31,
	2022		2021		2020
Intrinsic value of stock options exercised	$	0.1	$	1.4	$	0.1
Proceeds from stock options exercised		1.4		4.1		0.1

Restricted Stock Activity

A summary of restricted stock activity for fiscal 2022 was as follows:

	Shares			Weighted-average price
Non-vested balance, beginning of year		0.7		$	10.05
Granted		0.4			15.13
Vested		(0.3	)		12.05
Forfeited		(0.1	)		12.44
Non-vested balance, end of year		0.7		$	11.61