STOCK-BASED COMPENSATION AND INCENTIVE PLANS (Tables)

12 Months Ended

Mar. 31, 2017

Schedule of Common Stock Shares Reserved for Issuance and Shares Available for Grant

The number of common stock shares reserved for issuance under the plans and the number of shares available for future grants at March 31, are as follows:

	2017		2016
Shares of common stock reserved for issuance under the plans		1,900,769		2,257,963
Shares of common stock available for future grants		505,221		480,839

Fair Value and Assumptions Used for Stock Options Issued

The fair value and assumptions used for the stock options issued during the years ended March 31, are as follows:

	2016			2015
Weighted average fair value of stock options granted	$	3.34			5.54
Risk-free interest rate		1.62	%		1.82	%
Expected dividend yield		0.0	%		2.4	%
Expected stock price volatility		45	%		30	%
Expected stock option life	6.5 years			6.5 years

Schedule of Stock Option Activity

The following table sets forth a summary of stock option activity of the company for fiscal years 2017, 2016 and 2015:

	Weighted-average Exercise Price		Number of Shares
Outstanding at March 31, 2014	$	47.51		1,370,056
Granted		22.80		428,326
Exercised		35.21		(29,118	)
Expired or cancelled/forfeited		42.97		(60,058	)
Outstanding at March 31, 2015		41.69		1,709,206
Granted		7.21		405,817
Exercised		—		—
Expired or cancelled/forfeited		52.67		(337,899	)
Outstanding at March 31, 2016		31.73		1,777,124
Granted		—		—
Exercised		—		—
Expired or cancelled/forfeited		44.86		(381,576	)
Outstanding at March 31, 2017	$	28.14		1,395,548

Options Outstanding, Exercise-Price Ranges

Information regarding the 1,395,548 options outstanding at March 31, 2017 can be grouped into three general exercise-price ranges as follows:

	Exercise Price Range
At March 31, 2017	$7.21 - $22.80		$33.83 - $45.75		$56.56 - $65.69
Options outstanding		794,779		437,417		163,352
Weighted average exercise price of options outstanding	$	15.04	$	40.92	$	57.65
Weighted average remaining contractual life of options outstanding	8.5 years		2.6 years		1.0 years
Options exercisable		399,080		437,417		163,352
Weighted average exercise price of options exercisable	$	17.65	$	40.92	$	57.65
Weighted average remaining contractual life of options exercisable	8.3 years		2.6 years		1.0 years

Additional Information Regarding Stock Options

Additional information regarding stock options for the years ended March 31, are as follows:

(In thousands, except number of stock options and weighted average price)	2017		2016		2015
Intrinsic value of options exercised		—		—		475
Number of stock options vested		266,311		135,275		7,527
Fair value of stock options vested	$	1,185		749		40
Number of options exercisable		999,849		1,100,765		1,288,407
Weighted average exercise price of options exercisable	$	34.36		42.96		47.86

Effect on Basic and Diluted Earnings Per Share, and Stock Option Compensation Expense

Stock option compensation expense along with the reduction effect on basic and diluted earnings per share for the years ended March 31, are as follows:

(In thousands, except per share data)	2017		2016		2015
Stock option compensation expense	$	745		859		71
Basic loss per share increased by		0.02		0.01		0.00
Diluted loss per share increased by		0.02		0.01		0.00

Summary of Restricted Stock Award Activity

The following table sets forth a summary of restricted stock award activity of the company for fiscal 2016 and 2015:

	Weighted-average Grant-Date Fair Value		Time Based Shares			Performance Based Shares
Non-vested balance at March 31, 2014	$	54.75		78,824			106,266
Granted		—		—			—
Vested		57.46		(48,574	)		—
Cancelled/forfeited		47.09		(5,959	)		(37,861	)
Non-vested balance at March 31, 2015		56.94		24,291			68,405
Granted		—		—			—
Vested		55.04		(24,291	)		—
Cancelled/forfeited		54.43		—			(68,405	)
Non-vested balance at March 31, 2016 and March 31, 2017	$	—		—			—

Summary of Phantom Stock Activity

The following table sets forth a summary of phantom stock activity of the company for fiscal 2017, 2016 and 2015:

	Weighted-average Grant-Date Fair Value		Time Based Shares			Performance Based Shares
Non-vested balance at March 31, 2014	$	50.94		60,882			1,291
Granted		22.80		546,058			—
Vested		48.47		(33,987	)		—
Cancelled/forfeited		50.70		(5,482	)		—
Non-vested balance at March 31, 2015		24.07		567,471			1,291
Granted		7.21		1,246,972			—
Vested		24.92		(190,052	)		—
Cancelled/forfeited		23.93		(25,853	)		—
Non-vested balance at March 31, 2016		10.83		1,598,538			1,291
Granted		—		—			—
Vested		12.29		(584,136	)		(1,290	)
Cancelled/forfeited		13.52		(68,252	)		(1	)
Non-vested balance at March 31, 2017	$	9.74		946,150			—

Summary of Cash-Based Performance Plan Unit Activity

The following table sets forth a summary of cash-based performance plan unit activity of the company for fiscal 2017, 2016 and 2015:

	Weighted-average Grant-Date Fair Value		Performance Based Units
Non-vested balance at March 31, 2014	$	—		—
Granted		1.10		4,519,703
Vested		—		—
Cancelled/forfeited		—		—
Non-vested balance at March 31, 2015		1.10		4,519,703
Granted		1.22		3,527,333
Vested		—		—
Cancelled/forfeited		1.10		(133,320	)
Non-vested balance at March 31, 2016		1.16		7,913,716
Granted		—		—
Vested		—		—
Cancelled/forfeited		1.15		(179,991	)
Non-vested balance at March 31, 2017	$	1.16		7,733,725

Summary of Deferred Stock Unit Activity

The following table sets forth a summary of deferred stock unit activity of the company for fiscal 2017, 2016 and 2015:

	Weighted-average Grant-Date Fair Value		Number Of Units
Balance at March 31, 2014	$	48.68		146,388
Dividend equivalents reinvested		34.63		3,794
Retirement distribution		47.50		(21,492	)
Granted		19.14		56,370
Balance at March 31, 2015		39.53		185,060
Dividend equivalents reinvested		13.36		15,064
Retirement distribution		19.14		(4,874	)
Granted		6.83		168,380
Balance at March 31, 2016		23.58		363,630
Dividend equivalents reinvested		—		—
Retirement distribution		6.83		(12,792	)
Granted		—		—
Balance at March 31, 2017	$	24.19		350,838

Schedule of Deferred Cash Award Expense

Deferred cash award expense, which is reflected in general and administrative expenses, for the years ended March 31, are as follows:

(In thousands)	2017		2016		2015
Deferred cash award expense	$	978		—		—

Deferred Stock Unit

Schedule of Restricted Stock Compensation Expense and Grant Date Fair Value

Deferred stock unit compensation expense, which is reflected in general and administrative expenses, for the years ended March 31, are as follows:

(In thousands)	2017			2016			2015
Deferred stock units compensation expense (benefit)	$	(1,987	)		(904	)		(2,477	)

Restricted Stock

Schedule of Restricted Stock Compensation Expense and Grant Date Fair Value

Restricted stock award compensation expense and grant date fair value for the years ended March 31, is as follows:

(In thousands)	2016		2015
Grant date fair value of restricted stock vested	$	1,337		2,791
Restricted stock compensation expense		472		2,855

Restricted Stock Units (RSUs)

Schedule of Restricted Stock Compensation Expense and Grant Date Fair Value

Restricted stock unit compensation expense and grant date fair value for the year ended March 31, is as follows:

(In thousands)	2017		2016		2015
Grant date fair value of restricted stock units vested	$	3,754		7,572		12,080
Restricted stock unit compensation expense		2,425		10,505		17,214

Summary Of Restricted Stock Unit Activity

The following table sets forth a summary of restricted stock unit activity of the company for fiscal 2017, 2016, and 2015:

	Weighted-average Grant-Date Fair Value		Time Based Units			Weight-average Grant Date Fair Value		Performance Based Units
Non-vested balance at March 31, 2014	$	50.24		495,209			53.58		256,373
Granted		54.48		551			—		—
Vested		50.92		(237,229	)		—		—
Cancelled/forfeited		49.62		(7,381	)		—		—
Non-vested balance at March 31, 2015		49.50		251,150			53.58		256,373
Granted		—		—			—		—
Vested		49.74		(152,231	)		—		—
Cancelled/forfeited		49.74		(9,280	)		69.95		(99,522	)
Non-vested balance at March 31, 2016		49.17		89,639			61.75		156,851
Granted		—		—			—		—
Vested		49.39		(76,006	)		—		—
Cancelled/forfeited		49.34		(13,450	)		61.75		(156,851	)
Non-vested balance at March 31, 2017	$	54.48		183			—		—

Phantom Stock Plan

Schedule of Restricted Stock Compensation Expense and Grant Date Fair Value

Phantom stock compensation expense and grant date fair value of phantom stock vested for the years ended March 31, are as follows:

(In thousands)		2017		2016		2015
Grant date fair value of phantom stock vested	$		7,118		4,737		1,647
Phantom stock compensation expense			467		1,787		933
Phantom stock compensation costs capitalized as part    of an asset			—		—		—

Cash-based Performance Plan

Schedule of Restricted Stock Compensation Expense and Grant Date Fair Value

Cash-based performance unit compensation expense and grant date fair value for the year ended March 31, is as follows:

(In thousands)	2017		2016		2015
Grant date fair value of cash-based performance units vested	$	—		—		—
Cash-based performance unit compensation expense		761		1,141		72