v3.25.2
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)
$ in Millions
Total
Class A Common Stock
Common Stock
Class A Common Stock
Treasury Stock
Additional Paid-In Capital
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Beginning of period (in shares) at Mar. 31, 2024     167,402,268        
Beginning of period at Mar. 31, 2024 $ 1,047   $ 2 $ (2,278) $ 909 $ 2,404 $ 10
Treasury stock (in shares) at Mar. 31, 2024       (37,759,145)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of common stock (in shares)     236,588        
Issuance of common stock 8       8    
Stock options exercised (in shares)     66,248        
Stock options exercised 3       3    
Repurchase of common stock (in shares)   (500,000)   (595,585) [1]      
Repurchase of common stock (90) [1] $ (78)   $ (90) [1]      
Net income 165         165  
Other comprehensive loss, net of tax (2)           (2)
Dividends paid (67)         (67)  
Stock-based compensation expense 20       20    
End of period (in shares) at Jun. 30, 2024     167,705,104        
End of period at Jun. 30, 2024 $ 1,084   $ 2 $ (2,368) 940 2,502 8
Treasury stock (in shares) at Jun. 30, 2024       (38,354,730)      
Beginning of period (in shares) at Mar. 31, 2025 124,879,004   168,522,544        
Beginning of period at Mar. 31, 2025 $ 1,003   $ 2 $ (3,082) 1,042 3,070 (29)
Treasury stock (in shares) at Mar. 31, 2025 (43,643,540)     (43,643,540)      
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Issuance of common stock (in shares)     313,274        
Issuance of common stock $ 9       9    
Stock options exercised (in shares)     14,279        
Stock options exercised 1       1    
Repurchase of common stock (in shares)   (1,400,000)   (1,497,572) [2]      
Repurchase of common stock (167) [2] $ (154)   $ (167) [2]      
Net income 271         271  
Other comprehensive loss, net of tax (1)           (1)
Dividends paid (70)         (70)  
Stock-based compensation expense $ 19       19    
End of period (in shares) at Jun. 30, 2025 123,708,985   168,850,097        
End of period at Jun. 30, 2025 $ 1,065   $ 2 $ (3,249) $ 1,071 $ 3,271 $ (30)
Treasury stock (in shares) at Jun. 30, 2025 (45,141,112)     (45,141,112)      
[1] During the three months ended June 30, 2024, the Company purchased 0.5 million shares of the Company’s Class A Common Stock for $78 million. Additionally, the Company repurchased shares for $12 million during the three months ended June 30, 2024 to cover the minimum statutory taxes on repurchases and restricted stock units that vested on various dates during the period.
[2] During the three months ended June 30, 2025, the Company purchased 1.4 million shares of the Company’s Class A Common Stock for $154 million. Additionally, the Company repurchased shares for $13 million during the three months ended June 30, 2025 to cover the minimum statutory taxes on repurchases and restricted stock units that vested on various dates during the period.