v3.26.1
Debt (Tables)
 3 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Debt Instruments
Debt obligations included in the condensed consolidated balance sheets consisted of the following (in millions)(1):
Coupon Interest RateEffective Interest Rate
June 30,March 31,
20262026
Commercial Paper$211.0 $349.0 
4.900% 2028 Notes4.900%5.1%1,000.0 1,000.0 
5.050% 2029 Notes5.050%5.2%1,000.0 1,000.0 
5.050% 2030 Notes5.050%5.2%1,000.0 1,000.0 
Total Senior Indebtedness(2)
3,211.0 3,349.0 
2017 Senior Convertible Debt1.625%1.8%37.9 37.9 
2024 Senior Convertible Debt0.750%1.0%1,250.0 1,250.0 
2026 Senior Convertible Debt0.000%0.5%900.0 900.0 
Total Convertible Debt2,187.9 2,187.9 
Gross long-term debt including current maturities5,398.9 5,536.9 
Less: Debt discount(3)
(8.4)(9.3)
Less: Debt issuance costs(4)
(29.2)(31.2)
Net long-term debt including current maturities5,361.3 5,496.4 
Less: Current maturities(5)
— — 
Net long-term debt$5,361.3 $5,496.4 
(1) The Company had no outstanding borrowings under the Revolving Credit Facility at June 30, 2026 and at March 31, 2026.
(2) All outstanding Senior Notes and the Revolving Credit Facility are senior unsecured debt.
(3) The unamortized discount consists of the following (in millions):
June 30,March 31,
20262026
Commercial Paper$(0.4)$(0.5)
4.900% 2028 Notes(1.9)(2.2)
5.050% 2029 Notes(3.0)(3.3)
5.050% 2030 Notes(3.1)(3.3)
Total unamortized discount$(8.4)$(9.3)

(4) Debt issuance costs consist of the following (in millions):
June 30,March 31,
20262026
4.900% 2028 Notes(1.0)(1.1)
5.050% 2029 Notes(1.2)(1.2)
5.050% 2030 Notes(1.3)(1.4)
2024 Senior Convertible Debt(10.7)(11.4)
2026 Senior Convertible Debt(15.0)(16.1)
Total debt issuance costs$(29.2)$(31.2)

(5) As of June 30, 2026, the outstanding Commercial Paper which matures within the three months ending September 30, 2026, and the 2017 Senior Convertible Debt which is convertible and which matures on February 15, 2027, were excluded from current maturities as the Company has the intent and ability to utilize proceeds from its Revolving Credit Facility to refinance such notes and settle the principal portion of its Convertible Debt upon conversion on a long-term basis. As of March 31, 2026, the outstanding Commercial Paper which matured within the three months ending June 30, 2026, and the 2017 Senior Convertible Debt which was convertible and which matures on February 15, 2027, were excluded from current maturities as the Company had the intent and ability to utilize proceeds from its Revolving Credit Facility to refinance such notes and settle the principal portion of its Convertible Debt upon conversion on a long-term basis.
Schedule of Maturities of Long-term Debt
Expected maturities relating to the Company’s debt obligations based on the contractual maturity dates as of June 30, 2026, are as follows (in millions):

Fiscal year ending March 31,Amount
2027$248.9 
20281,000.0 
20291,000.0 
20301,900.0 
20311,250.0 
Thereafter— 
Total$5,398.9 
Schedule of Convertible Debt
The following table sets forth the applicable conversion rates adjusted for dividends declared since issuance of such series of Convertible Debt and the applicable incremental share factors and maximum conversion rates as adjusted for dividends paid since the applicable issuance date:
Dividend adjusted rates as of June 30, 2026
Conversion RateApproximate Conversion PriceIncremental Share FactorMaximum Conversion Rate
2017 Senior Convertible Debt(1)
23.6261 $42.33 11.8140 33.6672 
2024 Senior Convertible Debt(1)
8.2105 $121.80 — 10.4682 
2026 Senior Convertible Debt(1)
9.5993 $104.17 — 13.4390 
(1) As of June 30, 2026, the 2024 Senior Convertible Debt and the 2026 Senior Convertible Debt were not convertible. As of June 30, 2026, the holders of the 2017 Senior Convertible Debt have the right to convert their notes between July 1, 2026 and September 30, 2026 because the Company's common stock price has exceeded the applicable conversion price for such series by 130% for the specified period of time during the quarter ended June 30, 2026.
Schedule of Interest Expense
Interest expense consists of the following (in millions):
Three Months Ended June 30,
20262025
Debt issuance cost amortization$0.6 $0.7 
Debt discount amortization3.9 1.4 
Interest expense38.2 51.0 
Total interest expense on Senior Indebtedness42.7 53.1 
Debt issuance cost amortization1.7 0.7 
Coupon interest expense2.5 2.5 
Total interest expense on Convertible Debt4.2 3.2 
Other interest expense1.9 1.1 
Total interest expense $48.8 $57.4