Stock-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2023

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,
	2023			2022			2021
Fair value of options	$	6.99		$	8.79		$	3.46
Expected life of awards in years		6.0			6.1			6.1
Risk-free interest rate		3.0	%		1.1	%		0.4	%
Expected volatility of the Company’s stock		57.8	%		56.5	%		54.1	%
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 2023 was as follows:

	Shares			Weighted-average exercise price		Weighted-average remaining contractual term (years)		Aggregate intrinsic value
Outstanding, beginning of year		1.0		$	12.12
Granted		0.2			12.40
Exercised		(0.2	)		11.77
Forfeited or expired		(0.1	)		12.26
Outstanding, end of year		0.9		$	12.28		7.1	$	9.6
Exercisable, March 31, 2023		0.4		$	12.46		5.5	$	4.3

Information Related to Stock Options Exercised

Additional information related to stock options exercised is as follows:

	Years ended March 31,
	2023		2022		2021
Intrinsic value of stock options exercised	$	1.5	$	0.1	$	1.4
Proceeds from stock options exercised		2.9		1.4		4.1

Restricted Stock Activity

A summary of restricted stock activity for fiscal 2023 was as follows:

	Shares			Weighted-average price
Non-vested balance, beginning of year		0.7		$	11.61
Granted		0.5			13.60
Vested		(0.3	)		11.85
Forfeited		(0.1	)		10.58
Non-vested balance, end of year		0.8		$	12.95