Accounting for Share-Based Compensation (Tables)
 9 Months Ended
Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Recognized share-based compensation
The Company recognized share-based compensation in the following line items in the Condensed Consolidated Statements of Operations for the periods indicated:
 
Three Months Ended
December 31,
 
Nine Months Ended
December 31,
 
2014
 
2013
 
2014
 
2013
 
(in millions)
 
 
 
 
Costs of licensing and maintenance
$
2

 
$
1

 
$
4

 
$
3

Cost of professional services
1

 
1

 
3

 
3

Selling and marketing
8

 
8

 
23

 
22

General and administrative
8

 
8

 
21

 
20

Product development and enhancements
4

 
5

 
14

 
15

Share-based compensation expense before tax
$
23

 
$
23

 
$
65

 
$
63

Income tax benefit
(7
)
 
(7
)
 
(20
)
 
(20
)
Net share-based compensation expense
$
16

 
$
16

 
$
45

 
$
43
Unrecognized share-based compensation costs
The following table summarizes information about unrecognized share-based compensation costs at December 31, 2014:
 
Unrecognized Share-Based Compensation Costs
 
Weighted Average Period Expected to be Recognized
 
(in millions)
 
(in years)
Stock option awards
$
6

 
1.8
Restricted stock units
19

 
2.0
Restricted stock awards
69

 
2.1
Performance share units
26

 
2.6
Total unrecognized share-based compensation costs
$
120

 
2.1
Weighted average fair values and assumptions used for options granted
The weighted average fair values and assumptions used for the options granted were as follows:
 
Nine Months Ended
December 31,
 
2014
 
2013
Weighted average fair value
$
5.87

 
$
5.19

Dividend yield
3.29
%
 
4.05
%
Expected volatility factor (1)
29
%
 
30
%
Risk-free interest rate (2)
2.1
%
 
1.5
%
Expected life (in years) (3)
6.0

 
6.0

(1)
Expected volatility is measured using historical daily price changes of the Company’s stock over the respective expected term of the options and the implied volatility derived from the market prices of the Company’s traded options.
(2)
The risk-free rate for periods within the contractual term of the stock options is based on the U.S. Treasury yield curve in effect at the time of grant.
(3)
The expected life is the number of years the Company estimates that options will be outstanding prior to exercise. The Company’s computation of expected life was determined based on the simplified method (the average of the vesting period and option term).
Summary of RSAs and RSUs granted under 1-year PSUs for fiscal year 2014 and 2013 Incentive Plans
The table below summarizes the RSAs and RSUs granted under these PSUs:
 
 
 
 
RSAs
 
RSUs
Incentive Plans for Fiscal Years
 
Performance Period
 
Shares
(in millions)
 
Weighted Average Grant Date Fair Value
 
Shares
(in millions)
 
Weighted Average Grant Date Fair Value
2014
 
1 year
 
0.7
 
$29.91
 
0.1
 
$28.92
2013
 
1 year
 
0.4
 
$27.11
 
0.1
 
$26.12
Summary of RSAs and RSUs granted under 1-year PSUs for fiscal year 2014 and 2013 Sales Retention Equity Programs
The table below summarizes the RSAs and RSUs granted under these programs:
 
 
 
 
RSAs
 
RSUs
Incentive Plans for Fiscal Years
 
Performance Period
 
Shares
(in millions)
 
Weighted Average Grant Date Fair Value
 
Shares
(in millions)
 
Weighted Average Grant Date Fair Value
2014
 
1 year
 
0.2
 
$28.69
 
0.1
 
$25.73
2013
 
1 year
 
0.2
 
$27.11
 
0.1
 
$24.13
Summary of all RSAs and RSUs granted
The table below summarizes all of the RSAs and RSUs, including grants made pursuant to the long-term incentive plans discussed above, granted during the three and nine months ended December 31, 2014 and 2013:
 
Three Months Ended
December 31,
 
Nine Months Ended
December 31,
 
2014
 
2013
 
2014
 
2013
 
(shares in millions)
RSAs:
 
 
 
 
 
 
 
Shares
0.1

 
—

(1) 
3.1

 
2.7

Weighted average grant date fair value (2)
$
29.72

 
$
32.51

 
$
28.97

 
$
27.03

RSUs:
 
 
 
 
 
 
 
Shares
—

(1) 
—

 
0.8

 
0.8

Weighted average grant date fair value (3)
$
27.98

 
$
—

 
$
26.92

 
$
25.37

(1)
Less than 0.1 million.
(2)
The fair value is based on the quoted market value of the Company’s common stock on the grant date.
(3)
The fair value is based on the quoted market value of the Company’s common stock on the grant date reduced by the present value of dividends expected to be paid on the Company’s common stock prior to vesting of the RSUs, which is calculated using a risk-free interest rate.