XML 32 R24.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock Benefit Plans and Stock-Based Compensation (Tables)
 6 Months Ended
Sep. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Weighted average fair value of stock options granted and assumptions used to estimate fair value
The weighted average fair value of stock options granted during the periods and the assumptions used to estimate those values using the Black-Scholes option pricing model were as follows:

  
Six Months Ended
September 30,
 
  
2014
  
2013
 
     
Expected volatility
  
34.09
%
  
39.52
%
Risk-free interest rate
  
1.88
%
  
1.59
%
Expected lives at date of grant (in years)
  
5.7
   
6.3
 
Weighted-average fair value of the options granted
 
$
1.96
  
$
2.69
 
Dividend yield assumption
  
4.99
%
  
4.42
%
Stock award compensation expense
Stock award compensation expense was allocated as follows (in thousands):
 
  
Three Months Ended
September 30,
  
Six Months Ended
September 30,
 
  
2014
  
2013
  
2014
  
2013
 
Stock-based compensation classified as:
        
         
Cost of maintenance fees
 
$
78
  
$
169
  
$
171
  
$
348
 
Cost of subscription fees
  
4
   
1
   
32
   
30
 
Cost of services
  
22
   
21
   
31
   
41
 
Cost of application services
  
1,255
   
10,020
   
3,874
   
10,506
 
Technology development and support
  
256
   
528
   
523
   
1,100
 
Sales and marketing
  
1,888
   
803
   
3,782
   
3,573
 
Administrative and general
  
2,974
   
3,253
   
6,864
   
7,771
 
Restructuring costs
  
-
   
-
   
-
   
1,791
 
Discontinued operations
  
-
   
80
   
-
   
152
 
                 
Total stock-based compensation expense before income tax provision
 
$
6,477
  
$
14,875
  
$
15,277
  
$
25,312
 
Stock Options - Service-Based Vesting [Member]
  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of stock option activity
A summary of activity for options that vest based on service conditions only under the Company’s stock-based compensation plans as of September 30, 2014, and changes during the six months then ended is presented below (shares and intrinsic value in thousands):

  
Six Months Ended
September 30, 2014 
 
  
 
 
 
Number of
Options
  
 
Weighted
Average
Exercise
Price
  
Weighted
Average
Remaining
Contractual
Term in Years
  
 
 
Aggregate
Intrinsic
Value
 
Options outstanding as of March 31, 2014
  
14,236
  
$
8.80
     
Granted
  
2,631
   
9.87
     
Exercised
  
(918
)
  
7.69
    
$
2,428
 
Forfeited
  
(92
)
  
9.99
       
Cancelled/expired
  
(85
)
  
9.65
       
Options outstanding as of September 30, 2014
  
15,772
  
$
9.03
   
6.67
  
$
26,278
 
                 
Options vested and expected to vest, net of estimated forfeitures, as of September 30, 2014
  
15,167
  
$
8.99
   
6.58
  
$
25,907
 
                 
Options exercisable as of September 30, 2014
  
10,860
  
$
8.59
   
5.70
  
$
22,848
 
Stock Options - Performance and Service-Based Vesting [Member]
  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of stock option activity
A summary of activity for options that vest based on the achievement of both service and performance conditions under the Company’s stock-based compensation plans as of September 30, 2014, and changes during the six months then ended is presented below (shares and intrinsic value in thousands):

  
Six Months Ended
September 30, 2014
 
  
 
 
 
Number of
Options
  
 
Weighted
Average
Exercise
Price
  
Weighted
Average
Remaining
Contractual
Term in Years
  
 
 
Aggregate
Intrinsic
Value
 
Options outstanding as of March 31, 2014
  
2,150
  
$
10.07
     
Granted
  
1,116
   
10.11
     
Forfeited/Cancelled
  
(708
)
  
9.83
     
Options outstanding as of September 30, 2014
  
2,558
  
$
10.16
   
8.74
  
$
1,476
 
                 
Options vested and expected to vest, net of estimated forfeitures, as of September 30, 2014
  
1,116
  
$
10.11
   
9.64
  
$
-
 
                 
Options exercisable as of September 30, 2014
  
-
  
$
-
   
-
  
$
-
 
Non-vested RSU [Member]
  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of non-vested restricted stock units and performance-based restricted stock unit awards activity
A summary of non-vested restricted stock units (“RSUs”) and performance-based stock awards (“PSAs” and collectively “Non-vested RSU”) activity under the Company’s LTIP as of September 30, 2014, and changes during the six months then ended is presented below (shares and intrinsic value in thousands):
 
  
Six Months Ended
 
  
September 30, 2014
 
  
 
 
 
Shares
  
Weighted
Average
Grant-Date
Fair Value
  
 
Aggregate
Intrinsic
Value
 
       
Non-vested RSU outstanding as of March 31, 2014
  
2,124
     
Granted
  
1,416
  
$
10.10
   
Dividend Equivalents Issued
  
32
   
9.98
   
Released
  
(614
)
     
$
5,869
 
Forfeited
  
(38
)
        
Non-vested RSU outstanding as of September 30, 2014
  
2,920