Common Stock and Stock Plans (Tables)

12 Months Ended

Mar. 31, 2025

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of Stock-based Compensation Expense

Total stock-based compensation expense recognized in accordance with ASC 718 was as follows:

	Fiscal Years Ended
	March 31, 2025			March 31, 2024			March 31, 2023
	(In thousands)
Stock-based compensation expense before taxes	$	80,385		$	83,631		$	82,112
Related income tax benefits		(2,181	)		(5,292	)		(17,238	)
Stock-based compensation expense, net of taxes	$	78,204		$	78,339		$	64,874

Summary of PSU, Employee Stock Options and Employee Stock Purchase Plan Weighted Average Assumptions

The weighted average assumptions (annualized percentages) used in the Black-Scholes model and Monte Carlo simulation were as follows:

	Stock Options									Market-based Performance Stock Options							Employee Stock Purchase Plan
	Fiscal Year 2025			Fiscal Year 2024			Fiscal Year 2023			Fiscal Year 2025	Fiscal Year 2024			Fiscal Year 2023			Fiscal Year 2025			Fiscal Year 2024			Fiscal Year 2023
Volatility		64.5	%		54.2	%		46.4	%	—		56.4	%		49.9	%		97.3	%		66.6	%		60.5	%
Risk-free interest rate		3.5	%		4.2	%		3.4	%	—		4.4	%		3.8	%		4.6	%		5.3	%		3.4	%
Dividend yield		0.0	%		0.0	%		0.0	%	—		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Expected life	5.0 years			5.0 years			5.0 years			—	4.6 years			5.0 years			0.5 years			0.5 years			0.5 years

Summary of Stock Option Activity and TSR Performance Stock Option Activity

A summary of stock option activity for fiscal year 2025 is presented below:

	Number of Shares			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term in Years		Aggregate Intrinsic Value (In thousands)
Outstanding at March 31, 2024		221,949		$	51.95
Options granted		35,000			17.33
Options expired		(68,231	)		61.67
Options exercised	—			—
Outstanding at March 31, 2025		188,718		$	42.02		2.9	$	—
Vested and exercisable at March 31, 2025		152,718		$	46.72		2.3	$	—

A summary of market-based performance stock option activity for fiscal year 2025 is presented below:

	Number of Shares (1)			Weighted Average Exercise Price per Share		Weighted Average Remaining Contractual Term in Years		Aggregate Intrinsic Value (In thousands)
Outstanding at March 31, 2024		3,356,983		$	31.29
Market-based performance options granted	—			—
Market-based performance options canceled		(793,978	)		33.84
Market-based performance options exercised		—			—
Outstanding at March 31, 2025		2,563,005		$	30.50		3.8	$	—
Vested and exercisable at March 31, 2025		—		$	—		—	$	—

(1) Number of shares is based on the target number of options under each market-based performance stock option.

Summary of Restricted Stock Unit Activity

A summary of RSU activity for fiscal year 2025 is presented below:

	Number of Shares			Weighted Average Grant Date Fair Value per Share
Outstanding at March 31, 2024		4,020,734		$	37.11
Awarded		3,704,379			15.77
Forfeited		(391,204	)		25.09
Vested		(1,575,356	)		37.67
Outstanding at March 31, 2025		5,758,553		$	24.05
Vested and deferred at March 31, 2025		206,332		$	50.44

Summary of PSU Activity

A summary of PSU activity for fiscal year 2025 is presented below:

	Number of Shares (1)			Weighted Average Grant Date Fair Value per Share
Outstanding at March 31, 2024	—			$	—
Awarded		635,585			18.13
Forfeited		(25,847	)		18.24
Vested	—			—
Outstanding at March 31, 2025		609,738		$	18.13

(1) Number of shares is based on the target number of PSUs under each market condition PSU and performance condition PSU. Based on an estimated weighted average performance multiplier of approximately 150%, approximately 400,000 of performance condition PSUs are expected to time vest over the next three years.

Market Condition Performance Stock Units [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Summary of PSU, Employee Stock Options and Employee Stock Purchase Plan Weighted Average Assumptions

The weighted average assumptions (annualized percentages) used in the Monte Carlo simulation for market condition PSUs were as follows:

	Market Condition PSUs
	Fiscal Year 2025
Volatility		64.7	%
Risk-free interest rate		4.3	%
Dividend yield		0.0	%