SHARE REPURCHASES PLAN

12 Months Ended

Mar. 31, 2016

Treasury Stock, Number of Shares and Restriction Disclosures [Abstract]

SHARE REPURCHASES PLAN

SHARE REPURCHASE PLAN

During fiscal year 2016, the Company repurchased approximately 37.3 million shares for an aggregate purchase value of approximately $412.8 million under two separate repurchase plans as further discussed below.

During the second quarter of fiscal year 2016, the Company repurchased the entire remaining amount under a prior share repurchase plan that was approved by the Company's Board of Directors on August 28, 2014 and the Company's shareholders at the 2014 Extraordinary General Meeting held on August 28, 2014, or approximately 13.2 million shares for an aggregate purchase value of approximately $154.9 million, and retired all of these shares.

Under the Company’s current share repurchase program, the Board of Directors authorized repurchases of its outstanding ordinary shares for up to $500 million in accordance with the share repurchase mandate approved by the Company’s shareholders at the date of the most recent Extraordinary General Meeting held on August 20, 2015. During fiscal year 2016, the Company repurchased approximately 24.1 million shares for an aggregate purchase value of approximately $257.9 million under this plan, including amounts accrued but not paid, and retired all of these shares. As of March 31, 2016, shares in the aggregate amount of $242.1 million were available to be repurchased under the current plan.