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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Mar. 31, 2018	May 23, 2018	Sep. 29, 2017
Entity Information [Line Items]
Entity Registrant Name	Booz Allen Hamilton Holding Corp
Entity Central Index Key	0001443646
Document Type	10-K
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Current Fiscal Year End Date	--03-31
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 5,293,214,554
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		143,367,775
Class B Non-Voting Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		0
Class C Restricted Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		0
Class E Special Voting Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		0

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Current assets:
Cash and cash equivalents	$ 286,958	$ 217,417
Accounts receivable, net of allowance	1,130,452	991,810
Prepaid expenses and other current assets	71,309	85,253
Total current assets	1,488,719	1,294,480
Property and equipment, net of accumulated depreciation	169,896	139,167
Deferred tax assets	0	10,825
Intangible assets, net of accumulated amortization	260,972	271,880
Goodwill	1,581,146	1,571,190
Other long-term assets	102,633	85,563
Total assets	3,603,366	3,373,105
Current liabilities:
Current portion of long-term debt	63,100	193,150
Accounts payable and other accrued expenses	557,559	504,117
Accrued compensation and benefits	282,750	263,816
Other current liabilities	132,757	140,318
Total current liabilities	1,036,166	1,101,401
Long-term debt, net of current portion	1,755,479	1,470,174
Income tax reserves	11,787	11,647
Deferred tax liabilities	4,485	0
Other long-term liabilities	240,821	216,292
Total liabilities	3,048,738	2,799,514
Commitments and contingencies (Note 21)
Stockholders’ equity:
Common stock, Class A — $0.01 par value — authorized, 600,000,000 shares; issued, 158,028,673 shares at March 31, 2018 and 155,901,485 shares at March 31, 2017; outstanding, 143,446,539 shares at March 31, 2018 and 148,887,708 shares at March 31, 2017	1,580	1,559
Treasury stock, at cost — 14,582,134 shares at March 31, 2018 and 7,013,777 shares at March 31, 2017	(461,457)	(191,900)
Additional paid-in capital	346,958	302,907
Retained earnings	682,653	478,102
Accumulated other comprehensive loss	(15,106)	(17,077)
Total stockholders’ equity	554,628	573,591
Total liabilities and stockholders’ equity	$ 3,603,366	$ 3,373,105

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2018	Mar. 31, 2017
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	600,000,000	600,000,000
Common stock, shares issued	158,028,673	155,901,485
Common stock, shares outstanding	143,446,539	148,887,708
Treasury stock, shares	14,582,134	7,013,777

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Revenue	$ 6,171,853	$ 5,804,284	$ 5,405,738
Operating costs and expenses:
Cost of revenue	2,867,103	2,691,982	2,580,026
Billable expenses	1,861,312	1,751,077	1,513,083
General and administrative expenses	858,597	817,434	806,509
Depreciation and amortization	64,756	59,544	61,536
Total operating costs and expenses	5,651,768	5,320,037	4,961,154
Operating income	520,085	484,247	444,584
Interest expense	(82,269)	(62,298)	(70,815)
Other income (expense), net	188	(10,049)	5,693
Income before income taxes	438,004	411,900	379,462
Income tax expense	132,893	159,410	85,368
Net income	$ 305,111	$ 252,490	$ 294,094
Earnings per common share (Note 3):
Basic (in dollars per share)	$ 2.08	$ 1.69	$ 1.98
Diluted (in dollars per share)	$ 2.05	$ 1.67	$ 1.94

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 305,111	$ 252,490	$ 294,094
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Unrealized gain on derivatives designated as cash flow hedges	4,993	0
Change in postretirement plan costs	(171)	2,536	2,546
Total other comprehensive (loss) income, net of tax	4,822	2,536	2,546
Comprehensive income	$ 309,933	$ 255,026	$ 296,640

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities
Net income	$ 305,111	$ 252,490	$ 294,094
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	64,756	59,544	61,536
Stock-based compensation expense	23,318	21,249	24,992
Deferred income taxes	13,505	15,536	3,549
Excess tax benefits from stock-based compensation	(14,457)	(18,175)	(31,924)
Amortization of debt issuance costs and loss on extinguishment	5,974	15,566	8,359
Losses (gains) on dispositions and impairments	(246)	4,673	547
Changes in assets and liabilities:
Accounts receivable	(135,870)	(87,154)	(31,229)
Income taxes receivable / payable	9,636	54,564	(4,170)
Prepaid expenses and other current assets	14,119	(115)	24,873
Other long-term assets	(12,394)	(10,146)	(49,060)
Accrued compensation and benefits	11,296	21,535	(8,409)
Accounts payable and other accrued expenses	47,316	14,846	4,911
Accrued interest	6,218	(806)	(2,829)
Income tax reserves	140	(91)	(56,927)
Other current liabilities	6,461	13,256	66,031
Other long-term liabilities	24,260	25,505	(55,110)
Net cash provided by operating activities	369,143	382,277	249,234
Cash flows from investing activities
Purchases of property and equipment	(78,437)	(53,919)	(66,635)
Payments for business acquisitions, net of cash acquired	(19,113)	(247,627)	(51,118)
Insurance proceeds received for damage to equipment	1,097	650	0
Net cash used in investing activities	(96,453)	(300,896)	(117,753)
Cash flows from financing activities
Proceeds from issuance of common stock	8,907	6,314	5,977
Stock option exercises	12,095	14,687	7,962
Excess tax benefits from stock-based compensation	0	18,175	31,924
Repurchases of common stock	(270,318)	(46,548)	(63,152)
Cash dividends paid	(103,411)	(92,925)	(80,015)
Dividend equivalents paid to option holders	(951)	(2,254)	(31,802)
Repayment of debt	(317,149)	(968,325)	(295,063)
Proceeds from debt issuance	467,678	1,019,383	273,000
Net cash used in financing activities	(203,149)	(51,493)	(151,169)
Net increase (decrease) in cash and cash equivalents	69,541	29,888	(19,688)
Cash and cash equivalents––beginning of year	217,417	187,529	207,217
Cash and cash equivalents––end of year	286,958	217,417	187,529
Supplemental disclosures of cash flow information
Interest	62,498	49,062	57,068
Income taxes	128,416	89,556	143,083
Supplemental disclosures of non-cash investing and financing activities
Share repurchases transacted but not settled and paid	9,146	9,907	0
Contingent consideration arising from businesses acquired	$ 0	$ 3,576	$ 0

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Class A Common Stock	Common Stock Class A Common Stock	Common Stock Special voting common stock, Class E	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Balance (shares) at Mar. 31, 2015			150,237,675	1,851,589	(2,999,393)
Beginning of year at Mar. 31, 2015	$ 186,498		$ 1,502	$ 6	$ (72,293)	$ 174,985	$ 104,457	$ (22,159)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, in shares			443,813
Issuance of common stock	5,977		$ 4			5,973
Stock options exercised (in shares)			2,709,570	(1,851,589)
Stock options exercised	7,962		$ 28	$ (6)		7,940
Excess tax benefits from the exercise of stock options	31,924					31,924
Repurchase of common stock (in shares)					(2,399,203)
Repurchase of common stock	(63,152)				$ (63,152)
Recognition of liability related to future stock option exercises	(2,339)					(2,339)
Net income	294,094						294,094
Other comprehensive (loss) income, net of tax	2,546							2,546
Dividends paid	(80,014)					0	(80,014)
Stock-based compensation expense	24,992					24,992
Balance (shares) at Mar. 31, 2016			153,391,058	0	(5,398,596)
End of year at Mar. 31, 2016	408,488		$ 1,534	$ 0	$ (135,445)	243,475	318,537	(19,613)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, in shares			578,932
Issuance of common stock	6,314		$ 6			6,308
Stock options exercised (in shares)			1,931,495
Stock options exercised	14,687		$ 19			14,668
Excess tax benefits from the exercise of stock options	$ 18,175					18,175
Repurchase of common stock (in shares)	(1,300,000)				(1,615,181)
Repurchase of common stock	$ (56,455)	$ (46,400)			$ (56,455)
Recognition of liability related to future stock option exercises	(968)					(968)
Net income	252,490						252,490
Other comprehensive (loss) income, net of tax	2,536							2,536
Dividends paid	(92,925)					0	(92,925)
Stock-based compensation expense	21,249					21,249
Balance (shares) at Mar. 31, 2017			155,901,485	0	(7,013,777)
End of year at Mar. 31, 2017	573,591		$ 1,559	$ 0	$ (191,900)	302,907	478,102	(17,077)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, in shares			866,099
Issuance of common stock	8,907		$ 8			8,899
Stock options exercised (in shares)			1,261,089
Stock options exercised	12,095		$ 13			12,082
Excess tax benefits from the exercise of stock options	$ 0
Repurchase of common stock (in shares)	(7,200,000)				(7,568,357)
Repurchase of common stock	$ (269,557)	$ (257,600)			$ (269,557)
Recognition of liability related to future stock option exercises	(248)					(248)
Net income	305,111						305,111
Reclassification of AOCI due to the Act							2,851	(2,851)
Other comprehensive (loss) income, net of tax	4,822							4,822
Dividends paid	(103,411)						(103,411)
Stock-based compensation expense	23,318					23,318
Balance (shares) at Mar. 31, 2018			158,028,673	0	(14,582,134)
End of year at Mar. 31, 2018	$ 554,628		$ 1,580	$ 0	$ (461,457)	$ 346,958	$ 682,653	$ (15,106)

Business Overview	12 Months Ended
Business Overview	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Overview	BUSINESS OVERVIEW Our Business Booz Allen Hamilton Holding Corporation, including its wholly owned subsidiaries, or Holding, the Company or we, us, and our, was incorporated in Delaware in May 2008. The Company provides management and technology consulting, engineering, analytics, digital solutions, mission operations, and cyber expertise to U.S. and international governments, major corporations, and not-for-profit organizations. The Company reports operating results and financial data in one reportable segment. The Company is headquartered in McLean, Virginia, with approximately 24,600 employees as of March 31, 2018.

Summary of Significant Accounting Policies

12 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries, and have been prepared in accordance with accounting principles generally accepted in the United States, or U.S. GAAP, and the rules and regulations of the U.S. Securities and Exchange Commission, or SEC. All intercompany balances and transactions have been eliminated in consolidation.

The consolidated financial statements and notes of the Company include its subsidiaries, and the joint ventures and partnerships over which the Company has a controlling financial interest. The Company uses the equity method to account for investments in entities that it does not control if it is otherwise able to exert significant influence over the entities' operating and financial policies.

The Company’s fiscal year ends on March 31 and unless otherwise noted, references to fiscal year or fiscal are for fiscal years ended March 31. The accompanying consolidated financial statements present the financial position of the Company as of March 31, 2018 and 2017 and the Company’s results of operations for fiscal 2018, fiscal 2017, and fiscal 2016.

Certain amounts reported in the Company's prior year consolidated financial statements have been reclassified to conform to the current year presentation.

Use of Estimates

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenue and expenses during the reporting periods. Areas of the consolidated financial statements where estimates may have the most significant effect include contractual and regulatory reserves, valuation and lives of tangible and intangible assets, contingent consideration related to business acquisitions, impairment of long-lived assets, accrued liabilities, revenue recognition and costs to complete fixed-price contracts, bonus and other incentive compensation, stock-based compensation, reserves for tax benefits and valuation allowances on deferred tax assets, provisions for income taxes, postretirement obligations, certain deferred costs, collectability of receivables, and loss accruals for litigation. Actual results experienced by the Company may differ materially from management's estimates.

Revenue Recognition

Substantially all of the Company’s revenue is derived from services and solutions provided to the U.S. government and its agencies, primarily by the Company’s consulting staff and, to a lesser extent, subcontractors. The Company generates its revenue from the following types of contractual arrangements: cost-reimbursable-plus-fee contracts, time-and-materials contracts, and fixed-price contracts.

Revenue on cost-reimbursable-plus-fee contracts is recognized as services are performed, generally based on the allowable costs incurred during the period plus any recognizable earned fee. The Company considers fixed fees under cost-reimbursable-plus-fee contracts to be earned in proportion to the allowable costs incurred in performance of the contract. For cost-reimbursable-plus-fee contracts that include performance-based fee incentives, which are principally award fee arrangements, the Company recognizes income when such fees are probable and estimable. Estimates of the total fee to be earned are made based on contract provisions, prior experience with similar contracts or clients, and management’s evaluation of the performance on such contracts. Revisions to these estimates may result in increases or decreases to revenue and income, and are reflected in the consolidated financial statements in periods in which they are identified. Historically, revisions to these estimates have not had a material effect on our results of operations. Contract costs, including indirect expenses, are subject to audit by the Defense Contract Audit Agency, or DCAA, and, accordingly, are subject to possible cost disallowances. Executive compensation that we determine to be allowable for cost reimbursement based on management's estimates is recognized as revenue, net of reserves. Management's estimates in this regard are based on a number of factors that may change over time, including executive compensation survey data, our and other government contractors' experiences with the DCAA audit practices in our industry, and relevant decisions of courts and boards of contract appeals.

Revenue earned under time-and-materials contracts is recognized as hours are worked based on contractually billable rates to the client. Costs on time-and-materials contracts are expensed as incurred.

Revenue on fixed-price contracts is primarily recognized using the percentage of completion method based on actual costs incurred relative to total estimated costs for the contract. On some fixed-price contracts the Company may use an alternative input method to calculate the percent complete, such as labor hours or labor dollars. This method is used when a contract contains significant, up-front material purchases resulting in costs incurred that are not representative of the actual progress on the contract. In either method, these estimated costs are updated during the term of the contract, and may result in revision by the Company of recognized revenue and estimated costs in the period in which the changes in estimated costs are identified. Historically, revisions to these estimates have not had a material effect on our results of operations. Profits on fixed-price contracts result from the difference between incurred costs used to calculate the percentage of completion and revenue earned.

Contract accounting requires significant judgment relative to assessing risks, estimating contract revenue and costs, and making assumptions for schedule and technical issues. Due to the size and nature of many of the Company’s contracts, developing total revenue and cost at completion estimates requires the use of significant judgment. Contract costs include direct labor and billable expenses and an allocation of allowable indirect costs. Billable expenses is comprised of subcontracting costs and other “out-of-pocket” costs that often include, but are not limited to, travel-related costs and telecommunications charges. The Company typically recognizes revenue and billable expenses from these transactions on a gross basis when it is the primary obligor on our contracts with customers. Assumptions regarding the length of time to complete the contract also include expected increases in wages and prices for materials. Estimates of total contract revenue and costs are monitored during the term of the contract and are subject to revision as the contract progresses. Anticipated losses on contracts are recognized in the period they are deemed probable and can be reasonably estimated.

The Company’s contracts may include the delivery of a combination of one or more of the Company’s service offerings. In these situations, the Company determines whether such arrangements with multiple service offerings should be treated as separate units of accounting based on how the elements are bid or negotiated, whether the customer can accept separate elements of the arrangement, and the relationship between the pricing on the elements individually and combined. All other revenues are recognized when persuasive evidence of an arrangement exists, services or products have been provided to the customer, the sales price is fixed or determinable and collectability is reasonably assured.

Cash and Cash Equivalents

Cash and cash equivalents include operating cash on hand and highly liquid investments having a weighted average maturity of 60 days or less and a weighted average life of 120 days or less. The Company’s cash equivalents consist primarily of institutional and government money market funds and money market deposit accounts. The Company maintains its cash and cash equivalents in bank accounts that, at times, exceed the federally insured FDIC limits. The Company has not experienced any losses in such accounts.

Valuation of Accounts Receivable

The Company maintains allowances for doubtful accounts against certain billed and unbilled receivables based upon the latest information regarding whether specific charges are recoverable or invoices are ultimately collectible. Assessing the recoverability of charges and collectability of customer receivables requires management judgment. The Company determines its allowance for doubtful accounts by specifically analyzing individual accounts receivable, historical bad debts, customer credit-worthiness, current economic conditions, accounts receivable aging trends for billed receivables, availability of funding, compliance with contractual terms and conditions, client satisfaction with work performed, and other factors impacting unbilled receivables. Valuation reserves are periodically re-evaluated and adjusted as more information about the ultimate recoverability and collectability of accounts receivable becomes available. Upon determination that a receivable is uncollectible, the receivable balance and any associated reserve are written off.

Concentrations of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash equivalents and accounts receivable. The Company’s cash equivalents are generally invested in U.S. government money market funds and money market deposit accounts. The Company believes that credit risk for accounts receivable is limited as the receivables are primarily with the U.S. government.

Property and Equipment

Property and equipment are recorded at cost, and the balances are presented net of accumulated depreciation. The cost of software purchased or internally developed is capitalized, as appropriate. Depreciation is calculated using the straight-line method over the estimated useful lives of the assets. Furniture and equipment is depreciated over five to ten years, computer equipment is depreciated over four years, and software purchased or developed for internal use is depreciated over three to five years. Leasehold improvements are amortized over the shorter of the useful life of the asset or the lease term. Maintenance and repairs are charged to expense as incurred.

Rent expense is recorded on a straight-line basis over the life of the respective lease. The difference between the cash payment and rent expense is recorded as deferred rent in either accounts payable and other accrued expenses or other long-term liabilities in the consolidated balance sheets, depending on when the amounts will be recognized. The Company receives incentives for tenant improvements on certain of its leases. The cash expended on such improvements is recorded as property and equipment and amortized over the life of the associated asset, or lease term, whichever is shorter. Incentives for tenant improvements are recorded as deferred rent in either accounts payable and other accrued expenses or other long-term liabilities in the consolidated balance sheets depending on when the amounts will be recognized. Incentives for tenant improvements are amortized on a straight-line basis over the lease term.

Business Combinations

The accounting for the Company’s business combinations consists of allocating the purchase price to tangible and intangible assets acquired and liabilities assumed based on their estimated fair values, with the excess recorded as goodwill. The Company has up to one year from the acquisition date to use information as of each acquisition date to adjust the fair value of the acquired assets and liabilities which may result in material changes to their recorded values with an offsetting adjustment to goodwill.

We have a contingent consideration arrangement in connection with a business acquisition which requires a fair value measurement determined using probability-weighted cash flows. See Note 19 to our consolidated financial statements for further information about the valuation of the contingent consideration liability and the inputs used in the fair value measurement.

Intangible Assets

Intangible assets primarily consist of the Company's trade name, customer relationships, and other amortizable intangible assets. Customer relationships are generally amortized on an accelerated basis over the expected life based on projected future cash flows of approximately three to twelve years. The Company's trade name is not amortized, but is tested for impairment on at least an annual basis as of January 1 and more frequently if interim indicators of impairment exist. The trade name is considered to be impaired if the carrying value exceeds its estimated fair value. The Company used the relief from royalty method to estimate the fair value. The fair value of the asset is the present value of the license fees avoided by owning the asset, or the royalty savings. During the fiscal year ended March 31, 2017, the Company recorded impairment charges related to intangible assets acquired in an acquisition. During the fiscal year ended March 31, 2018, and 2016, the Company did not record any impairment of intangible assets.

Goodwill

The Company assesses goodwill for impairment on at least an annual basis on January 1 unless interim indicators of impairment exist. Goodwill is considered to be impaired when the net book value of a reporting unit exceeds its estimated fair value. The Company operates as a single operating segment and as a single reporting unit for the purpose of evaluating goodwill. As of January 1, 2018, the Company performed its annual impairment test of goodwill by comparing the fair value of the Company (based on market capitalization) to the carrying value of the Company's net equity, and concluded that the fair value of the reporting unit was significantly greater than the carrying amount. During the fiscal years ended March 31, 2018, 2017, and 2016, the Company did not record any impairment of goodwill.

Long-Lived Assets

The Company reviews its long-lived assets, including property and equipment and amortizable intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amounts of the assets may not be fully recoverable. If the total of the expected undiscounted future net cash flows is less than the carrying amount of the asset, a loss is recognized for any excess of the carrying amount over the fair value of the asset. During the fiscal years ended March 31, 2018, 2017, and 2016, the Company did not record any material impairment charges.

Income Taxes

The Company provides for income taxes as a “C” corporation on income earned from operations. The Company is subject to federal, state, and foreign taxation in various jurisdictions.

Deferred tax assets and liabilities are recorded to recognize the expected future tax benefits or costs of events that have been, or will be, reported in different years for financial statement purposes than for tax purposes. Deferred tax assets and liabilities are computed based on the difference between the consolidated financial statement carrying amount and tax basis of assets and liabilities using enacted tax rates and laws for the years in which these items are expected to reverse. If management determines that some portion or all of a deferred tax asset is not “more likely than not” to be realized, a valuation allowance is recorded as a component of the income tax provision to reduce the deferred tax asset to an appropriate level in that period. In determining the need for a valuation allowance, management considers all positive and negative evidence, including historical earnings, projected future taxable income, future reversals of existing taxable temporary differences, taxable income in prior carryback periods, and prudent, feasible tax-planning strategies.

The Company periodically assesses its tax positions for all periods open to examination by tax authorities based on the latest available information. Where it is not more likely than not that the Company’s tax position will be sustained, the Company records its best estimate of the resulting tax liability, penalties, and interest in the consolidated financial statements. These uncertain tax positions are recorded as a component of income tax expense. As uncertain tax positions in periods open to examination are closed out, or as new information becomes available, the resulting change is reflected in the recorded liability and income tax expense. Penalties and interest recognized related to the reserves for uncertain tax positions are recorded as a component of income tax expense.

See Note 13 to our consolidated financial statements for further information regarding the effects of U.S. tax law changes enacted during the third fiscal quarter of 2018 and financial reporting guidance issued by the SEC.

Comprehensive Income

Comprehensive income is the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources, and is presented in the consolidated statements of comprehensive income. Accumulated other comprehensive loss as of March 31, 2018 and 2017 consisted of net unrealized losses on the Company’s defined and postretirement benefit plans and unrealized gains or losses on interest rate swaps designated as cash flow hedges.

Share-Based Payments

Share-based payments to employees are recognized in the consolidated statements of operations based on their grant date fair values with the expense for time vested awards recognized on an accelerated basis over the vesting period. The expense for performance awards is recognized straight line over the vesting period. The Company uses the Black-Scholes option-pricing model to determine the fair value of its option awards at the time of grant.

Defined Benefit Plan and Other Postretirement Benefits

The Company recognizes the underfunded status of defined benefit plans on the consolidated balance sheets within other long-term liabilities. Gains and losses, and prior service costs and credits that have not yet been recognized through net periodic benefit cost are recognized in accumulated other comprehensive income (loss), net of tax effects, and will be amortized as a component of net periodic cost in future periods. The measurement date, the date at which the benefit obligations are measured, is the Company’s fiscal year-end.

The Company also offers medical and dental benefits to inactive employees (and their eligible dependents) on long-term disability. The Company accrues the costs of the benefits at the date the inactive employee becomes disability eligible and elects to participate in the benefit. The accrued cost for such benefits is calculated using an actuarial estimate of the present value of all future benefit payments for obligations at the end of the fiscal year.

Self-Funded Medical Plans

The Company maintains self-funded medical insurance. Self-funded plans include Consumer Driven Health Plans with a Health Savings Account option and traditional choice plans. Further, self-funded plans also include prescription drug and dental benefits. The Company records an incurred but unreported claim liability in the accrued compensation and benefits line of the consolidated balance sheets for self-funded plans based on an actuarial valuation. The estimate of the incurred but unreported claim liability was provided by a third-party valuation firm, primarily based on claims and participant data for the medical, dental, and pharmacy related costs.

Fair Value Measurements

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In determining fair value, we consider the principal or most advantageous market in which the asset or liability would transact, and if necessary, consider assumptions that market participants would use when pricing the asset or liability.

The accounting guidance for fair value measurements establishes a three-level fair value hierarchy that prioritizes the inputs used in measuring fair value as follows: observable inputs such as quoted prices in active markets (Level 1); inputs other than quoted prices in active markets that are observable either directly or indirectly (Level 2); and unobservable inputs in which there is little or no market data, which requires the Company to develop its own assumptions (Level 3). Assets and liabilities are classified in their entirety within the fair value hierarchy based on the lowest level input that is significant to the fair value measurement. See Note 19 to our consolidated financial statements for additional information on the Company’s fair value measurements.

Recent Accounting Pronouncements

On February 14, 2018, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU 2018-02, Income Statement, Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. This guidance permits entities to reclassify the effect of the change in the U.S. federal corporate income tax rate on the gross deferred tax amounts related to items remaining in accumulated other comprehensive income to retained earnings as a result of the Tax Cuts and Jobs Act (the "2017 Tax Act") enacted by the U.S. federal government on December 22, 2017. The updated guidance is effective for interim and annual reporting periods beginning after December 15, 2018, with early adoption permitted. Although immaterial, the Company early adopted ASU 2018-02 and made an election to reclassify $2.9 million from accumulated other comprehensive income to retained earnings in the fourth quarter of fiscal 2018.

On December 22, 2017, the Staff of the SEC issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act, or SAB 118, which addresses situations where the accounting under FASB Accounting Standards Codification No. 740, Income Taxes, or ASC 740 is incomplete for certain income tax effects of Public Law No. 115-97, commonly referred to as the 2017 Tax Act, by the time an entity issues its financial statements for the fiscal period that includes the date that the 2017 Tax Act was enacted.

Under ASC 740, entities are required to adjust current and deferred tax liabilities and assets for the effects of changes in tax laws or rates at their date of enactment. However, pursuant to SAB 118, if an entity does not have the necessary information available, prepared, or analyzed for certain income tax effects of the 2017 Tax Act at the time an entity's financial statements are issued, an entity shall apply ASC 740 based on the provisions of the tax laws that were in effect immediately prior to the enactment of the 2017 Tax Act. If the accounting for certain income tax effects of the 2017 Tax Act is incomplete, but an entity can determine a reasonable estimate for those effects, an entity can record provisional amounts and adjust such amounts as necessary during a measurement period, which ends on the earlier of when an entity has obtained, prepared, and analyzed the information necessary to complete the accounting requirements of ASC 740 and December 22, 2018.

As discussed further in Note 13, the Company is a fiscal year-end taxpayer and is required to use a blended statutory federal tax rate, inclusive of the federal rate change enacted on December 22, 2017, to compute its effective tax rate from the third quarter of fiscal 2018. These effects contributed to an overall decrease in the Company's effective tax rate. Based on ASC 740, comparative prior period amounts were not adjusted for the rate change effects of the 2017 Tax Act.

Further, the Company recognized provisional tax effects of the 2017 Tax Act in the year ended March 31, 2018 and recorded $9.1 million in income tax benefit which relates entirely to the re-measurement of deferred tax assets and liabilities using the new 21% tax rate. Upon completion of its on-going assessment of the implications of the 2017 Tax Act during the measurement period, the Company may identify additional re-measurement adjustments to the recorded deferred tax balances resulting from the 2017 Tax Act given its complexity and pending further interpretive guidance that may be issued by the Internal Revenue Service (IRS). In addition, a tax accounting method change was filed as of March 31, 2018 associated with the Company's unbilled receivables that is currently pending IRS approval. As a non-automatic method change, the Company can not yet adjust for this in the deferred re-measurement process. The Company will continue to assess its provision for income taxes as future guidance is issued. Any such revisions will be treated in accordance with the measurement period guidance outlined in SAB 118.

In August 2017, the FASB issued ASU 2017-12, Targeted Improvements to Accounting for Hedging Activities. This guidance eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires, for qualifying hedges, the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. Additionally, the guidance also expands an entity's ability to apply hedge accounting for nonfinancial and financial risk components, simplifies the hedge documentation and hedge effectiveness assessment requirements, and modifies certain disclosure requirements. ASU 2017-12 is effective for reporting periods beginning after December 15, 2018, with early adoption permitted. The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements.

In March 2017, the FASB issued ASU 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, which will change the presentation of net periodic benefit cost components on the consolidated statement of operations. Under this guidance, the service cost component of net periodic benefit cost will continue to be presented in the same line items as other employee compensation costs, while the remaining components of net periodic benefit costs are to be presented outside operating income. ASU 2017-07 is effective for annual reporting periods beginning after December 15, 2017 and is to be applied retrospectively, with early adoption permitted. The Company will adopt the new standard in the first quarter of fiscal 2019 on a retrospective basis. For the Officer Medical Plan, the adoption of ASU 2017-07 will result in a reclassification of $7.3 million and $7.8 million of net periodic benefit costs that are not related to service components to other income (expense), net for fiscal 2018 and fiscal 2017, respectively. The adoption of this standard and change in classification is not expected to be material to the Company's consolidated financial statements.

In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting, which simplifies several aspects of the accounting for share-based payment transactions including the accounting for income taxes, forfeitures, and statutory tax withholding requirements. The Company adopted ASU 2016-09 in the first quarter of fiscal 2018. Certain of the simplification provisions were not applicable to the Company. The Company will continue its existing practice of estimating the number of forfeitures that are expected to occur rather than account for forfeitures when they occur as permitted under the new guidance.

The primary impacts of adopting ASU 2016-09 were those related to excess tax benefits and tax deficiencies. The new guidance requires that such amounts be recognized as income tax expense or benefit in the statement of operations, which could result in fluctuations in the Company's effective tax rate period over period depending on how many awards vest, or options are exercised, in a quarter. The guidance also requires that the cash flows associated with these transactions be presented with other income tax related cash flows in the operating activities section of the statement of cash flows. The Company recognized excess tax benefits, inclusive of the impact of the 2017 Tax Act, of $14.5 million during fiscal year 2018, as a reduction to income tax expense in the consolidated statement of operations. The effect of adopting ASU 2016-09 resulted in a decrease in the Company's current period effective tax rate. As permitted, the Company adopted the guidance related to the presentation of excess tax benefits in the consolidated statement of cash flows on a prospective basis. Prior period amounts were not adjusted.

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842), to increase transparency and comparability of accounting for lease transactions. The new leasing standard requires lessees to recognize lease assets and lease liabilities on their balance sheet for all leases with a lease term of greater than 12 months. Lessor accounting is largely unchanged. Topic 842 is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The new leasing standard currently requires the application of a modified retrospective approach to the beginning of the earliest period presented in the financial statements. In January 2018, the FASB issued an exposure draft of the proposed ASU, Leases (Topic 842): Targeted Improvements. The proposed ASU provides an alternative transition method of adoption, permitting the recognition of a cumulative-effect adjustment to retained earnings on the date of adoption. The Company intends to adopt the standard on the effective date and we will make a transition decision upon the FASB deciding whether it will approve an alternative transition method.

A dedicated implementation team has been established that continues to make progress toward completing the evaluation of the impact of the new standard. The Company is currently evaluating its population of leased assets in order to assess the impact of Topic 842 on its lease portfolio, and designing and implementing new processes and controls. Until this effort is completed, the Company cannot determine the effect of Topic 842 on our consolidated financial statements.

In May 2014, the FASB issued Accounting Standard Codification No. 606, Revenue from Contracts with Customers (Topic 606). Topic 606, as amended, will replace existing revenue recognition standards by outlining a single set of comprehensive principles for recognizing revenue. The revenue standard will also significantly expand the disclosure requirements for revenue arrangements. Amendments to Topic 606 have generally focused on promoting a more consistent interpretation and application of the principles for recognizing revenue.

Topic 606 was effective for the Company beginning on April 1, 2018 (i.e., beginning with the first quarter fiscal 2019 interim financial statements). The Company will adopt the new revenue standard using the full retrospective transition method, which requires that it be applied to each prior reporting period presented and the cumulative effect of applying the standard would be recognized at the earliest period shown (i.e., April 1, 2016 or the beginning of the first quarter of fiscal 2017). During fiscal 2018, the Company completed its assessment of the cumulative effect of adopting Topic 606 and assessed the impact to be immaterial. Under the full retrospective method, the Company principally recognized the cumulative effect of adoption as an increase in billed and unbilled accounts receivables, an increase in deferred tax liabilities, and a net increase in retained earnings as of April 1, 2016 of less than $3.0 million. The Company has substantially completed its assessment of the impact of adoption on our fiscal 2017 and 2018 results and the Company believes the retrospective impact of Topic 606 to those prior fiscal periods to be immaterial. The impact of Topic 606 on fiscal 2017 and 2018 results may not be representative of the impact on subsequent years’ results.

During fiscal 2018, the Company substantially completed its evaluation of Topic 606, including the impact on our accounting policies and practices, accounting systems and business processes. As a result of our evaluation, the Company identified changes to and modified certain of our accounting policies and practices. While some system changes were complex to design and test, the effect of such changes were not significant upon adoption of Topic 606. The Company also designed and implemented specific controls over our evaluation of the impact of Topic 606, including the calculation of the cumulative effect of adopting Topic 606. Finally, the Company has designed new internal controls and modified certain of our existing internal controls and processes to incorporate the revisions made to accounting policies and practices on a post-adoption basis.

While the Company's comprehensive assessment identified the following notable observations or impacts to our accounting policies and practices, the Company does not believe that adopting Topic 606 under its principles-based approach to recognizing revenue will be material to the Company's fiscal year consolidated financial statements:


•	The Company expects insignificant changes related to recognizing revenue and earnings over time for long-term contracts as work progresses because of the continuous transfer of control to the customer, generally using an input measure (e.g., costs incurred) to reflect progress.


•	The determination of the customer and contract under Topic 606 will not significantly change.


•	Revenue previously deferred for non-federal government arrangements that commenced without a signed, written contract may be recognized under Topic 606 when such arrangements are legally enforceable under applicable laws and regulations.

•

The Company has determined that in its U.S. government contract portfolio, there are certain periods of performance option exercises that will be evaluated as separate performance obligations or new arrangements for accounting purposes due to their distinct nature. For example, these situations may arise when options to renew the period of performance are not exercised within a relatively short period after execution of the base contract and are thus evaluated to be separate and unrelated purchasing decisions by the customer, or when an option exercise is not the continuation of an integrated service, finished deliverable, or a single combined output.


•	The determination of contract transaction price associated with performance-based contracts (i.e., incentive or award-based contracts) will generally be consistent with the Company's current measurement practices for such contracts. The Company's estimates at completion for most fixed price contracts will now include unfunded components.

•

For interim period financial reporting purposes under Topic 606, contract revenue attributable to indirect costs will be recognized using the agreed-upon annual forward-pricing rates established with the U.S. government at the start of each fiscal year. Forward pricing rates are estimated and agreed upon between the Company and the U.S. government and represent indirect contract costs required to execute and administer contract obligations. The impact of any agreed-upon changes, or changes in the estimated annual forward-pricing rates, will be recorded in the interim financial reporting period when such changes are determined. The impact of this change relates to the interim financial reporting period differences between the actual indirect cost incurred and allocated to contracts compared to the estimated amounts allocated to contracts using the estimated annual forward-pricing rates established with the U.S. government, which the Company believes represents the transaction price under Topic 606. This change to our interim accounting policies and practices aligns to the principles of Topic 606 indicating that revenue should reflect expectations about the consideration a company will be entitled to receive from a customer and such revenue and profit margin should be applied on a consistent basis using judgment and reliable estimates for contractual arrangements. This will be a change from the Company’s current practices in which the Company records during interim reporting periods adjustments to revenue based on the indirect spending incurred as of that interim period ended primarily for cost-reimbursable and fixed-price contracts. Because of the new revenue standard, profit margin on such contracts is expected to be more consistent throughout the interim periods of the fiscal year, notwithstanding seasonality the Company may experience during interim and fiscal year periods due to changes in the government’s funding and spending patterns. The Company believes this change in interim period financial reporting will have no impact on the fiscal year end consolidated statements of operations, balance sheets or statements of cash flow as the estimated indirect forward-pricing rates are adjusted to actual rates at that time.


•	Contracts with significant up-front materials are expected to see an increase in the amount of revenue and costs recognized upon the date of the adoption, but the change in profitability is not expected to be significant.

Topic 606 will also require expanded disclosures regarding the nature, timing and uncertainty of revenue and contract balances, including how and when the Company satisfies its performance obligations and the relationship between revenue recognized and changes in contract balances during a reporting period. The Company has evaluated these disclosure requirements and incorporated the collection of relevant data into our reporting process.

Other recent accounting pronouncements issued during fiscal 2018 and through the filing date are not expected to have a material impact on the Company's present or historical consolidated financial statements.

Earnings Per Share

12 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

The Company computes basic and diluted earnings per share amounts based on net income for the periods presented. The Company uses the weighted average number of common shares outstanding during the period to calculate basic earnings per share, or EPS. Diluted EPS adjusts the weighted average number of shares outstanding to include the dilutive effect of outstanding common stock options and other stock-based awards.

The Company currently has outstanding shares of Class A Common Stock. Unvested Class A Restricted Common Stock holders are entitled to participate in non-forfeitable dividends or other distributions. These unvested restricted shares participated in the Company's dividends declared and paid in each quarter of fiscal 2018, 2017, and 2016. As such, EPS is calculated using the two-class method whereby earnings are reduced by distributed earnings as well as any available undistributed earnings allocable to holders of unvested restricted shares. A reconciliation of the income used to compute basic and diluted EPS for the periods presented are as follows:



	Fiscal Year Ended March 31,
	2018		2017		2016
Earnings for basic computations (1)	$	303,224	$	250,231	$	290,542
Weighted-average Class A Common Stock outstanding	145,964,574		148,218,968		146,494,407
Total weighted-average common shares outstanding for basic computations	145,964,574		148,218,968		146,494,407
Earnings for diluted computations (1)	$	303,238	$	250,249	$	290,596
Dilutive stock options and restricted stock	1,785,448		2,055,672		3,224,730
Average number of common shares outstanding for diluted computations	147,750,022		150,274,640		149,719,137
Earnings per common share
Basic	$	2.08	$	1.69	$	1.98
Diluted	$	2.05	$	1.67	$	1.94

(1) During fiscal 2018, 2017, and 2016 approximately 0.8 million, 1.3 million, and 1.8 million shares of participating securities were paid dividends totaling $0.8 million, $0.9 million, and $1.0 million, respectively. For fiscal 2018 there were undistributed earnings of $1.1 million allocated to the participating class of securities in both basic and diluted earnings per share. For fiscal 2017 there were undistributed earnings of $1.4 million allocated to the participating class of securities in both basic and diluted earnings per share. For fiscal 2016 there were undistributed earnings of $2.5 million allocated to the participating class of securities in both basic and diluted earnings per share. The allocated undistributed earnings and the dividends paid comprise the difference between net income presented on the consolidated statements of operations and earnings for basic and diluted computations for fiscal 2018, 2017, and 2016.

The EPS calculation for fiscal 2018, 2017, and 2016 excludes 0.3 million, 0.05 million, and 0.6 million options as their impact was anti-dilutive.

Acquisitions

12 Months Ended

Mar. 31, 2018

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

There were no material acquisitions during fiscal 2018 or through the period subsequent to the issuance of the current financial statements.

Fiscal 2017 Acquisition

On January 24, 2017, the Company acquired eGov Holdings, Inc., which we refer to as Aquilent. As a result of the transaction, Aquilent became a wholly owned subsidiary of the Company. Aquilent is an architect of IT solutions for the U.S. Federal government. The acquisition further expands the Company's ability to blend its consulting heritage with advanced technical expertise.

The total purchase consideration paid at closing was $253.6 million. As part of the acquisition, the Company and the selling shareholders of Aquilent agreed to jointly make an election under Section 338(h)(10) of the Internal Revenue Code of 1986, as amended, or the Code, to treat the acquisition as an asset purchase for income tax purposes. The Company agreed to reimburse the selling stockholders for previously unrealized tax consequences on Aquilent's prior tax-return positions that became realized upon acquisition; and agreed to indemnify the selling stockholders for potential, incremental increases in income taxes and related costs as a result of the Section 338(h)(10) election. The indemnity was evaluated to be acquisition-related contingent consideration, which was preliminarily estimated at the acquisition date fair value of $3.6 million. The acquisition-related contingent consideration was calculated using probability-weighted cash flows and significant unobservable inputs (Level 3) as described under the fair value hierarchy of ASC 820, Fair Value Measurements, or ASC 820.

The Company recorded the assets acquired and liabilities assumed at their acquisition date estimated fair value, with the difference between the fair value of the net assets acquired and the acquisition consideration reflected as goodwill. The following table represents the final allocation of fair value of assets acquired and liabilities assumed:




Current assets	$	15,809
Other tangible assets	1,144
Customer-relationship intangible assets	69,000
Goodwill	199,826
Current liabilities	(8,450		)
Tax liability	(13,554		)
Income tax uncertainty	(10,221		)
Total purchase consideration transfer at closing	$	253,554

The identifiable customer-relationship intangible assets of $69.0 million was valued using the excess earnings method discounted cash flow approach, incorporating Level 3 inputs as described under the fair value hierarchy of ASC 820 and it is being amortized over 12 years. An acquisition date tax of $13.6 million was relieved and paid during the first quarter of fiscal 2018. The Company continues to carry a related reserve of $10.2 million for income tax uncertainties created with the acquisition resulting from uncertainty in the sustainability of Aquilent's prior tax-return positions under examination with the relevant tax authorities. The goodwill of $199.8 million was primarily attributed to the specialized workforce and the expected synergies between the Company and Aquilent. The majority of the goodwill is expected to be deductible for tax purposes. Pro forma results of operations for this acquisition are not presented because it is not material to the Company's consolidated results of operations.

Goodwill and Intangible Assets

12 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

Goodwill

As of March 31, 2018 and 2017, goodwill was 1,581.1 million and 1,571.2 million, respectively. The increase in the carrying amount of goodwill was attributable to an acquisition.

The Company performed an annual impairment test of goodwill as of January 1, 2018 and 2017, and we did not identify any impairment.

Intangible Assets

Intangible assets consisted of the following:



	March 31, 2018						March 31, 2017
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Amortizable intangible assets:
Customer relationships and other amortizable intangible assets	$	115,808	$	45,036	$	70,772	$	274,915	$	193,235	$	81,680

Unamortizable intangible assets:
Trade name	$	190,200	$	—	$	190,200	$	190,200	$	—	$	190,200

Total	$	306,008	$	45,036	$	260,972	$	465,115	$	193,235	$	271,880

Intangible assets are generally amortized on an accelerated basis over periods ranging from 3 years to 12 years. The weighted-average remaining period of amortization for all customer relationships is 9.3 years.

The Company performed an annual impairment test of the trade name as of January 1, 2018 and 2017, and did not identify any impairment. However, the Company recognized an impairment charge of $3.8 million in fiscal 2017 for acquired technology, customer relationships and other intangible assets associated with a historical business acquisition. During fiscal 2018, gross carrying value and accumulated amortization was reduced related to fully-amortized intangible assets.

Amortization expense for fiscal 2018, 2017, and 2016 was $16.9 million, $13.9 million, and $12.1 million, respectively. The following table summarizes the estimated annual amortization expense for future periods indicated below:



For the Fiscal Year Ended March 31,
2019	$	15,723
2020	12,985
2021	10,166
2022	7,647
2023	6,557
Thereafter	17,694
Total estimated amortization expense	$	70,772

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Accounts Receivable, Net of Allowance

12 Months Ended

Mar. 31, 2018

Receivables [Abstract]

Accounts Receivable, Net of Allowance

ACCOUNTS RECEIVABLE, NET OF ALLOWANCE

Accounts receivable, net of allowance consisted of the following:



	March 31,
	2018			2017
Current assets:
Accounts receivable–billed	$	395,136		$	340,716
Accounts receivable–unbilled	735,393			651,094
Allowance for doubtful accounts	(77		)	—
Accounts receivable, net	1,130,452			991,810
Other long-term assets:
Accounts receivable–unbilled	59,633			59,913
Total accounts receivable, net	$	1,190,085		$	1,051,723

Unbilled amounts represent revenues for which billings have not been presented to customers at year end. These amounts are usually billed and collected within one year. Long-term unbilled receivables not anticipated to be billed and collected within one year, which are primarily related to retainage, holdbacks, and long-term rate settlements to be billed at contract closeout, are included in other long-term assets in the accompanying consolidated balance sheets. The Company recognized a provision for doubtful accounts (including certain unbilled reserves) of $3.2 million, $0.6 million, and $1.1 million for fiscal 2018, 2017, and 2016, respectively.

- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Property and Equipment, Net

12 Months Ended

Mar. 31, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

PROPERTY AND EQUIPMENT, NET

The components of property and equipment, net were as follows:



	March 31,
	2018			2017
Furniture and equipment	$	164,061		$	151,552
Computer equipment	79,629			75,159
Software	59,051			48,361
Leasehold improvements	202,133			177,009
Total	504,874			452,081
Less: Accumulated depreciation and amortization	(334,978		)	(312,914		)
Property and equipment, net	$	169,896		$	139,167

Property and equipment, net, includes $15.6 million and $8.1 million of internally developed software, net of depreciation as of March 31, 2018 and 2017, respectively. Depreciation and amortization expense relating to property and equipment for fiscal 2018, 2017, and 2016 was $48.1 million, $46.3 million, and $50.1 million, respectively. During fiscal 2018 and 2017, the Company reduced the gross cost and accumulated depreciation and amortization by $16.1 million and $11.9 million, respectively, for zero net book value assets deemed no longer in service.

Accounts Payable and Other Accrued Expenses

12 Months Ended

Mar. 31, 2018

Payables and Accruals [Abstract]

Accounts Payable and Other Accrued Expenses

ACCOUNTS PAYABLE AND OTHER ACCRUED EXPENSES

Accounts payable and other accrued expenses consisted of the following:



	March 31,
	2018		2017
Vendor payables	$	339,993	$	268,630
Accrued expenses	217,566		235,487
Total accounts payable and other accrued expenses	$	557,559	$	504,117

Accrued expenses consisted primarily of the Company’s reserve related to potential cost disallowance in conjunction with government audits. Refer to Note 21 for further discussion of this reserve.

Accrued Compensation and Benefits

12 Months Ended

Mar. 31, 2018

Accrued Compensation and Benefits

ACCRUED COMPENSATION AND BENEFITS

Accrued compensation and benefits consisted of the following:



	March 31,
	2018		2017
Bonus	$	87,817	$	77,765
Retirement	35,743		31,879
Vacation	131,519		124,486
Other	27,671		29,686
Total accrued compensation and benefits	$	282,750	$	263,816

Deferred Payment Obligation

12 Months Ended

Mar. 31, 2018

Other Liabilities Disclosure [Abstract]

Deferred Payment Obligation

DEFERRED PAYMENT OBLIGATION

Pursuant to an Agreement and Plan of Merger, or the Merger Agreement, dated as of May 15, 2008, and subsequently amended, The Carlyle Group indirectly acquired all of the issued and outstanding stock of the Company. In connection with this transaction, on July 31, 2008 the Company established a Deferred Payment Obligation, or DPO, of $158.0 million, payable 8.5 years after the Closing Date, or until settlement of all outstanding claims, less any settled claims. Pursuant to the Merger Agreement, $78.0 million of the $158.0 million DPO was required to be paid in full to the selling shareholders. On December 11, 2009, in connection with a recapitalization transaction, $100.4 million was paid to the selling shareholders, of which $78.0 million was the repayment of that portion of the DPO, with approximately $22.4 million representing accrued interest.

The remaining $80.0 million is available to indemnify the Company for certain pre-acquisition tax contingencies, related interest and penalties, and other matters pursuant to the Merger Agreement. Any amounts remaining after the settlement of all claims will be paid out to the selling shareholders. As of March 31, 2018, there were no estimated tax indemnified amounts recorded against the DPO. Remaining potential claims outstanding that may be indemnified pursuant to the Merger Agreement relate to former officers and stockholders’ suits that are still in litigation (See Note 21 to our consolidated financial statements).

During fiscal 2018, the Company accrued interest at a rate of 5% per six-month period on the unpaid DPO balance, net of any settled claims or payments, which was $80.0 million as of March 31, 2018 and 2017. Accordingly, the $81.3 million and $81.3 million recorded within other current liabilities as of March 31, 2018 and March 31, 2017, respectively, represent the residual balances estimated to be paid to the selling shareholders subject to any remaining potential claims based on consideration of accrued interest and other matters.

A reconciliation of the principal balance of the DPO to the amount recorded in the consolidated balance sheets for the periods presented are as follows:



	March 31,
	2018		2017
Deferred payment obligation:	$	80,000	$	80,000
Accrued interest	1,311		1,304
Amount recorded in the consolidated balance sheet	$	81,311	$	81,304

The Company paid $8.0 million in each of fiscal 2018 and 2017 of accrued interest to the selling shareholders.

Debt

12 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Debt

DEBT

Debt consisted of the following:



	March 31, 2018					March 31, 2017
	Interest Rate		Outstanding Balance			Interest Rate		Outstanding Balance
Term Loan A	3.88	%	$	1,094,275		2.98	%	$	1,153,425
Term Loan B	3.88	%	395,000			3.08	%	398,000
Revolving credit facility (ABR)	—	%	—			5.00	%	80,000
Revolving credit facility (LIBOR)	—	%	—			2.98	%	50,000
Senior Notes	5.13	%	350,000			—	%	—
Less: Unamortized debt issuance costs and discount on debt			(20,696		)			(18,101		)
Total			1,818,579					1,663,324
Less: Current portion of long-term debt			(63,100		)			(193,150		)
Long-term debt, net of current portion			$	1,755,479				$	1,470,174

Terms Loans and Revolving Credit Facility

On March 7, 2018, Booz Allen Hamilton Inc. and Booz Allen Hamilton Investor Corporation ("Investor"), and certain wholly-owned subsidiaries of Booz Allen Hamilton, entered into the Fifth Amendment (the "Fifth Amendment") to the Credit Agreement (the "Credit Agreement"), dated as of July 31, 2012 among Booz Allen Hamilton, Investor, certain wholly owned subsidiaries of Booz Allen Hamilton and Bank of America, N.A., as Administrative Agent, Collateral Agent and Issuing Lender (as previously amended by the First Amendment to Credit Agreement, dated as of August 16, 2013, the Second Amendment to Credit Agreement, date as of May 7, 2014, the Third Amendment to the Credit Agreement, dated as of July 13, 2016 and the Fourth Amendment to the Credit Agreement, dated as of February 6, 2017). Pursuant to the Fifth Amendment, the Company reduced the interest rate spread applicable to Term Loan B ("Term Loan B" and, together with Term Loan A, the "Term Loans") from 2.25% to 2.00%. The interest rate applicable to the Term Loan A ("Term Loan A") remained unchanged.

Prior to the Fifth Amendment, $395 million was outstanding under Term Loan B. Pursuant to the Fifth Amendment, certain lenders converted their existing Term Loan B loans into a new tranche of Term Loan B loans in an aggregate amount, along with Term Loan B loans advanced by certain new lenders, of approximately $395 million. The proceeds from the new lenders were used to prepay in full all of the existing Term B Loans that were not converted into the new Term Loan B tranche.

As of March 31, 2018, the Credit Agreement, as amended, provided the Company with a 1,094.3 million Term Loan A and a $395 million Term Loan B and a $500.0 million revolving credit facility (the “Revolving Credit Facility”) with a sub-limit for letters of credit of $100.0 million. As of March 31, 2018, the maturity date of Term Loan A and the termination date for the Revolving Credit Facility was June 30, 2021 and the maturity date of Term Loan B was June 30, 2023. Booz Allen Hamilton’s obligations and the guarantors’ guarantees under the Credit Agreement, as amended, are secured by a first priority lien on substantially all of the assets (including capital stock of subsidiaries) of Booz Allen Hamilton, Investor and the subsidiary guarantors, subject to certain exceptions set forth in the Credit Agreement, as amended, and related documentation. Subject to specified conditions, without the consent of the then-existing lenders (but subject to the receipt of commitments), the Term Loans or Revolving Credit Facility may be expanded (or a new term loan facility or revolving credit facility added to the existing facilities) by up to (i) $400.0 million plus (ii) the aggregate principal amount under which pro forma consolidated net secured leverage remains less than or equal to 3.5:1.00.

At Booz Allen Hamilton’s option, borrowings under Term Loan A and the Revolving Credit Facility bear interest based either at LIBOR (adjusted for maximum reserves, and subject to a floor of zero) for the applicable interest period or a base rate (equal to the highest of (x) the administrative agent’s prime corporate rate, (y) the overnight federal funds rate plus 0.50% and (z) three-month LIBOR (adjusted for maximum reserves, and subject to a floor of zero) plus 1.00%), in each case plus an applicable margin, payable at the end of the applicable interest period and in any event at least quarterly. The applicable margin for Term Loan A and borrowings under the Revolving Credit Facility ranges from 1.50% to 2.25% for LIBOR loans and 0.50% to 1.25% for base rate loans, in each case based on Booz Allen Hamilton’s consolidated total net leverage ratio. The applicable margin for Term Loan B is 2.00% for LIBOR and 1.00% for base rate loans. Unused commitments under the Revolving Credit Facility are subject to a quarterly fee ranging from 0.30% to 0.40% based on Booz Allen Hamilton’s consolidated total net leverage ratio.

Under the Fifth Amendment, the rate at which Term Loan B bears interest is based either on LIBOR (adjusted for maximum reserves and subject to a floor of zero plus 2.00% for the applicable interest period) or a base rate (equal to the highest of (x) the corporate base rate established by the administrative agent, (y) the overnight federal funds rate plus 0.50%, (z) three-month LIBOR (adjusted for maximum reserves) plus 1.00%, plus, in each case, 1.25%, payable at the end of the applicable interest period; provided, that if such rate shall be less than zero, such rate shall be deemed to be zero.

Booz Allen Hamilton occasionally borrows under the Revolving Credit Facility in anticipation of cash demands. During fiscal 2018 and 2017, Booz Allen Hamilton accessed a total of $125.0 million and $575.0 million, respectively, of its $500.0 million Revolving Credit Facility. As of March 31, 2018, there was no outstanding balance on the Revolving Credit Facility. As of March 31, 2017, there was $130.0 million outstanding on the Revolving Credit Facility.

The Credit Agreement, as amended, requires quarterly principal payments of 1.25% of the stated principal amount of Term Loan A until maturity, and quarterly principal payments of 0.25% of the stated principal amount of Term Loan B until maturity.

The Credit Agreement, as amended, contains customary representations and warranties and customary affirmative and negative covenants. The negative covenants include limitations on the following, in each case subject to certain exceptions: (i) indebtedness and liens, (ii) mergers, consolidations or amalgamations, liquidations, wind-ups or dissolutions, and disposition of all or substantially all assets; (iii) dispositions of property; (iv) restricted payments; (v) investments; (vi) transactions with affiliates; (vii) sale and lease back transactions; (viii) change in fiscal periods; (ix) negative pledges; (x) restrictive agreements; (xi) line of business; and (xii) speculative hedging. The events of default include the following, in each case subject to certain exceptions: (a) failure to make required payments under the Secured Credit Facility; (b) material breaches of representations or warranties under the Secured Credit Facility; (c) failure to observe covenants or agreements under the Secured Credit Facility; (d) failure to pay or default under certain other material indebtedness; (e) bankruptcy or insolvency; (f) certain Employee Retirement Income Security Act, or ERISA events; (g) certain material judgments; (h) actual or asserted invalidity of the Guarantee and Collateral Agreements or the other security documents or failure of the guarantees or perfected liens thereunder; and (i) a change of control. In addition, Booz Allen Hamilton is required to meet certain financial covenants at each quarter end, namely Consolidated Net Total Leverage and Consolidated Net Interest Coverage Ratios. As of March 31, 2018 and 2017, Booz Allen Hamilton was in compliance with all of these covenants.

During fiscal 2018, interest payments of $38.1 million and $14.9 million were made for Term Loan A and Term Loan B, respectively. During fiscal 2017, interest payments of $28.8 million and $19.5 million were made for Term Loan A and Term Loan B, respectively.

Senior Notes

On April 25, 2017, Booz Allen Hamilton issued $350.0 million aggregate principal amount of its 5.125% Senior Notes, or the Senior Notes, under an Indenture, dated as of April 25, 2017, among Booz Allen Hamilton, certain subsidiaries of Booz Allen Hamilton, as guarantors, or the Subsidiary Guarantors, and Wilmington Trust, National Association, as trustee, or the Trustee, as supplemented by the First Supplemental Indenture, dated as of April 25, 2017, among Booz Allen Hamilton, the Subsidiary Guarantors and the Trustee. Each of Booz Allen Hamilton's existing and future domestic restricted subsidiaries that guarantee its obligations under the Secured Credit Facility and certain other indebtedness guarantee the Senior Notes on a senior unsecured basis. Interest is payable semi-annually on May 1 and November 1 of each year, beginning on November 1, 2017, and principal is due at maturity on May 1, 2025. In connection with the Senior Notes, the Company recognized $6.7 million of issuance costs, which were recorded as an offset against the carrying value of debt and will be amortized to interest expense over the term of the Senior Notes. During fiscal 2018, interest payments of $9.3 million were made for the Senior Notes. There were no similar payments made or required in fiscal 2017.

The following table summarizes required future debt principal repayments (in thousands):



	Payments Due By March 31,
	Total	2019	2020	2021	2022	2023	Thereafter
Term Loan A	$1,094,275	$59,150	$59,150	$59,150	$916,825	$—	$—
Term Loan B	395,000	3,950	3,950	3,950	3,950	3,950	375,250
Senior Notes	350,000	—	—	—	—	—	350,000
Total	$1,839,275	$63,100	$63,100	$63,100	$920,775	$3,950	$725,250

Interest on debt and debt-like instruments consisted of the following:



	Fiscal Year Ended March 31,
	2018		2017		2016
	(In thousands)
Term Loan A Interest Expense	$	37,575	$	28,646	$	21,790
Term Loan B Interest Expense	14,138		18,874		32,070
Interest on Revolving Credit Facility	271		751		363
Senior Notes Interest Expense	16,742		—		—
Deferred Payment Obligation Interest ¹	7,993		7,985		8,015
Amortization of Debt Issuance Costs (DIC) and Original Issue Discount (OID) ²	5,361		5,683		8,359
Other	189		359		218
Total Interest Expense	$	82,269	$	62,298	$	70,815

¹ Interest payments on the deferred payment obligation are made twice a year in January and July. See Note 10 to our consolidated financial statements.

² DIC and OID on the Company's term loans are recorded as a reduction of long-term debt in the consolidated balance sheet and are amortized ratably over the life of the related debt using the effective rate method. DIC on the Company's Revolving Credit Facility is recorded as a long-term asset on the consolidated balance sheet and amortized ratably over the term of the revolving credit facility.

Derivatives	12 Months Ended
Derivatives	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	DERIVATIVES The Company utilizes derivative financial instruments to manage interest rate risk related to its variable rate debt. The Company’s objectives in using these interest rate derivatives, which were designated as cash flow hedges, are to manage its exposure to interest rate movements and reduce volatility to interest expense. During the first quarter of fiscal 2018, the Company entered into several forward starting floating-to-fixed interest rate swap agreements with multiple financial institutions with a start date of April 30, 2018. The aggregate notional amount of these interest rate swap agreements was $450 million as of March 31, 2018. The swaps have staggered maturities, ranging from June 30, 2021 to June 30, 2022. These swaps mature within the last tranche of the Company's floating rate debt (June 30, 2023). The floating-to-fixed interest rate swaps involve the exchange of variable interest amounts from a counterparty for the Company making fixed-rate interest payments over the life of the agreements without exchange of the underlying notional amount and effectively converting a portion of the variable rate debt into fixed interest rate debt. Derivative instruments are recorded in the consolidated balance sheet on a gross basis at estimated fair value. As of March 31, 2018, $0.7 million and $7.2 million were classified as other current assets and other long-term assets, respectively, on the consolidated balance sheet. For interest rate swaps designated as cash flow hedges, the effective portion of changes in the fair value of derivatives is recorded in Accumulated Other Comprehensive Income, or AOCI, net of taxes, and is subsequently reclassified into interest expense in the period that the hedged forecasted interest payments are made on the Company's variable-rate debt. During fiscal 2018, a $7.9 million gain has been recognized in AOCI and there were no amounts reclassified into interest expense. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. As of March 31, 2018, there was no ineffectiveness recognized in earnings. Over the next 12 months, the Company estimates that $0.7 million will be reclassified as a decrease to interest expense. Cash flows associated with periodic settlements of interest rate swaps will be classified as operating activities in the consolidated statement of cash flows. The Company is subject to counterparty risk in connection with its interest rate swap derivative contracts. Credit risk related to a derivative financial instrument represents the possibility that the counterparty will not fulfill the terms of the contract. The Company mitigates this credit risk by entering into agreements with credit-worthy counterparties and regularly reviews its credit exposure and the creditworthiness of the counterparties.

Income Taxes

12 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

On December 22, 2017, Public Law No. 115-97, commonly referred to as the 2017 Tax Act, was enacted into law. The 2017 Tax Act includes a number of changes to existing U.S. tax laws that impact the Company, most notably a reduction of the U.S. corporate income tax rate from 35% to 21% for tax years beginning after December 31, 2017. It also provides for a one-time transition tax on certain foreign earnings and the acceleration of depreciation for certain assets placed into service after September 27, 2017 as well as additional prospective changes beginning in 2018. Those include, but are not limited to: the implication of global intangible low-taxed income (GILTI) and foreign-derived intangible income (FDII), a repeal of the domestic manufacturing deduction, acceleration of tax revenue recognition, additional limitations on executive compensation and changes or limitations on certain tax deductions.

ASC 740 requires the Company to recognize the effect of the 2017 Tax Act in the first interim period including the date of enactment. The tax rate change was administratively effective at the beginning of the Company’s 2018 fiscal year utilizing a blended statutory federal rate for the annual period. As a result, the blended federal statutory tax rate for fiscal year 2018 is 31.5%. The lower federal corporate tax rate also required the Company to remeasure its U.S. deferred tax assets and liabilities as well as reassess the realizability of its deferred tax assets and liabilities. The Company recognized the income tax effects in its fiscal 2018 financial statements in accordance with SAB 118 as described in Note 2. At March 31, 2018, the Company has not completed its accounting for the tax effects of the 2017 Tax Act; however, as described below, the Company recorded a provisional amount for the estimated effects on its deferred tax balances.

The Company remeasured its deferred tax asset and liability balances as of the enactment date and at March 31, 2018 based upon the rates at which they are expected to reverse in the future, which is generally 21% for reversals after fiscal 2018 and a blended rate of 31.5% for reversals within fiscal 2018. The provisional amount recorded related to the re-measurement of the net deferred tax balances was a $9.1 million reduction to income tax expense in the fourth quarter of fiscal 2018. However, the Company is still analyzing certain aspects of the 2017 Tax Act and refining its deferred tax calculations, which may include the impact of interpretative guidance that may be issued by the IRS in the future. As such, the Company's accounting for the impact of the 2017 Tax Act is not yet complete primarily due to the following items: (1) acceleration of depreciation; and (2) limitation on the deductibility of certain executive compensation such as the effects of the adjustment to IRC 162(m). However, the Company was able to make reasonable estimates related to both of these and included these in its provisional amount. The Company continues to wait on additional guidance from the IRS as to the application of the transitional relief provided for under the 2017 Tax Act. As such, the Company will utilize the measurement period under SAB 118 to continue to monitor for any new developments or guidance related to the transitional relief. Upon the release of relevant and appropriate guidance, the Company will update its position accordingly and may make adjustments to its deferred tax assets and liabilities as necessary. These adjustments may result in an impairment or reversal of the assets or liabilities itself. In addition, as discussed in Note 2, a tax accounting method change was filed with the IRS on March 29, 2018 relating to how the Company recognizes revenue for income tax purposes in consideration of revenue changes stemming from ASC 606 and the 2017 Tax Act associated with unbilled receivables. If approved by the IRS, this will impact the deferred tax adjustment in the period it is approved, including the effects of the change in tax rate. The Company expects to finalize its assessment of all provisional amounts within the maximum one-year measurement period, provided for under SAB 118. These estimates are subject to further analysis and review which may result in further adjustments in fiscal 2019 as noted in Note 2.

The provision for income taxes and effective tax rate in fiscal 2018 included a $23.3 million favorable impact from the change in tax law. This impact is due primarily to the effects of the statutory federal rate provisions of the 2017 Tax Act and the provisional estimates for the re-measurement of the existing deferred tax asset and liability balances as described above. The other key provision that requires recognition in the period of enactment is the one-time transition tax resulting from the mandatory deemed repatriation of undistributed foreign-sourced earnings. As it relates to the Company's operations, there was no impact in fiscal 2018 from the mandatory deemed repatriation as there was no net undistributed foreign taxable income subject to the tax.

The components of income tax expense were as follows:



	Fiscal Year Ended March 31,
	2018			2017			2016
Current
U.S. Federal	$	89,300		$	115,727		$	57,376
State and local	20,074			24,273			20,480
Foreign	10,014			3,874			3,963
Total current	119,388			143,874			81,819
Deferred
U.S. Federal	15,157			18,451			8,664
State and local	(1,652		)	(2,915		)	(5,115		)
Foreign	—			—			—
Total deferred	13,505			15,536			3,549
Total	$	132,893		$	159,410		$	85,368

A reconciliation of the provision for income tax to the amount computed by applying the statutory federal income tax rate to income from continuing operations before income taxes for each of the three years ended March 31 is as follows:



	Fiscal Year Ended March 31,
	2018			2017			2016
Income tax expense computed at U.S. federal statutory rate ⁽¹⁾	$	138,181		$	144,165		$	132,812

Increases (reductions) resulting from:
Changes in uncertain tax positions	140			(92		)	(56,428		)
State and local income taxes, net of federal tax	14,565			13,882			10,092
Foreign income taxes, net of federal tax	6,855			2,518			2,576
Meals and entertainment	2,247			1,328			1,321
Re-measurement of deferred taxes related to the Act	(9,107		)	—			—
Excess tax benefits from stock-based compensation	(14,457		)	—			—
Federal tax credits	(6,563		)	(4,402		)	(4,286		)
Other	1,032			2,011			(719		)
Income tax expense from operations	$	132,893		$	159,410		$	85,368

(1) The U.S. federal statutory income tax rate for fiscal 2018 is a blended rate of 31.5% due to the 2017 Tax Act.

The significant components of the Company’s deferred income tax assets and liabilities were as follows:



	March 31,
	2018			2017
Deferred income tax assets:
Accrued expenses	53,322			85,459
Accrued compensation	28,326			41,421
Stock-based compensation	7,785			15,326
Pension and postretirement benefits	34,449			48,672
Property and equipment	—			3,885
Net operating loss/Capital loss carryforwards	3,362			246
Deferred rent and tenant allowance	20,931			25,167
Extended disability benefits	5,963			8,860
State tax credits	9,822			4,829
Other	1,184			1,988
Total gross deferred income tax assets	165,144			235,853
Less: Valuation allowance	(1,373		)	—
Total net deferred income tax assets	163,771			235,853
Deferred income tax liabilities:
Unbilled receivables	(105,498		)	(141,357		)
Intangible assets	(57,020		)	(78,871		)
Debt issuance costs	(3,264		)	(4,709		)
Property and equipment	(398		)	—
Interest rate swaps	(2,076		)	—
Other	—			(91		)
Total deferred income tax liabilities	(168,256		)	(225,028		)
Net deferred income tax asset (liability)	$	(4,485	)	$	10,825

Deferred tax balances arise from temporary differences between the carrying amount of assets and liabilities and their tax basis and are stated at the enacted tax rates in effect for the year in which the differences are expected to reverse. A valuation allowance is provided against deferred tax assets when it is more likely than not that some or all of the deferred tax asset will not be realized. In determining if the Company's deferred tax assets are realizable, management considers all positive and negative evidence, including the history of generating financial reporting earnings, future reversals of existing taxable temporary differences, projected future taxable income, as well as any tax planning strategies.

As of March 31, 2018, the Company has available federal net operating loss and foreign net operating loss ("NOL carryforwards") of $2.6 million and $0.8 million, respectively, that may be applied against future taxable income. The net operating losses are primarily attributable to an acquisition and will begin to expire in fiscal 2037. A valuation allowance of $1.4 million related to net operating losses, has been recorded due to the uncertainty regarding the realization of the asset.

Uncertain Tax Positions

The Company maintains reserves for uncertain tax positions related to unrecognized income tax benefits. These reserves involve considerable judgment and estimation and are evaluated by management based on the best information available including changes in tax laws and other information. As of March 31, 2018, 2017, and 2016, the Company has recorded $11.8 million, $11.6 million, and $1.5 million, respectively, of reserves for uncertain tax positions which includes potential tax benefits of $11.6 million, $1.4 million, and $1.4 million, respectively, that, when recognized, impact the effective tax rate.

For the fiscal year ended March 31, 2016, the Company's reserves for uncertain tax positions decreased primarily as a result of expired statute of limitations for a prior tax year and management's conclusion that the uncertain tax positions related to the statute lapse were effectively settled. The Company released approximately $56.9 million of its pre-acquisition uncertain tax positions during fiscal 2016, including $3.2 million of net interest and penalties that were incurred by the Company subsequent to the acquisition. This resulted in a decrease in the Company's effective tax rate for fiscal 2016. As part of this settlement, an amount of $21.4 million, previously indemnified under the remaining available DPO was relieved. As of March 31, 2016, there were no estimated tax indemnified amounts recorded against the DPO.

A reconciliation of the beginning and ending amount of potential tax benefits for the periods presented is as follows:



	March 31,
	2018			2017			2016
Beginning of year	$	11,588		$	1,449		$	55,164
Increases in prior year position	41			127			79
Increases in current year position	—			10,278			—
Settlements with taxing authorities	—			—			(2,581		)
Lapse of statute of limitations	(21		)	(266		)	(51,213		)
End of year	$	11,608		$	11,588		$	1,449

The Company recognized (released) accrued interest and penalties of $0.1 million, $(9) thousand and $(3.2) million for fiscal 2018, 2017, and 2016, respectively, related to the reserves for uncertain tax positions in the income tax provision. Included in the total reserve for uncertain tax positions are accrued penalties and interest of approximately $0.2 million, $0.1 million and $0.1 million at March 31, 2018, 2017, and 2016 respectively.

The Company is subject to taxation in the United States and various state and foreign jurisdictions. As of March 31, 2018, the Company's tax years ended March 31, 2013 and forward are open and subject to examination by the federal tax authorities. The other jurisdictions currently open or under examination are not considered to be material.

The Company is currently contesting tax assessments from the District of Columbia Office of Tax and Revenue for fiscal years 2013 through 2015 at various stages of applicable administrative and judicial processes, with a combined amount at issue of approximately $11.5 million, net of associated tax benefits. The Company has taken similar tax positions with respect to subsequent fiscal years, totaling in aggregate $22.3 million. As of March 31, 2018, the Company does not maintain reserves for any uncertain tax positions related to the contested tax benefits and given the recoverable nature of the state tax expense it does not believe the resolution of these matters will have a material adverse effect on its results of operations, cash flows or financial condition.

Employee Benefit Plans

12 Months Ended

Mar. 31, 2018

Retirement Benefits [Abstract]

Employee Benefit Plans

EMPLOYEE BENEFIT PLANS

Defined Contribution Plan

The Company sponsors the Employees’ Capital Accumulation Plan, or ECAP, which is a qualified defined contribution plan that covers eligible U.S. and international employees. ECAP provides for distributions, subject to certain vesting provisions, to participants by reason of retirement, death, disability, or termination of employment. Effective April 1, 2014, the Company transitioned from a discretionary employer contribution to an annual matching contribution of up to 6% of eligible annual income as determined by the Internal Revenue Code for the ECAP. Total expense recognized under ECAP for fiscal 2018, 2017, and 2016 was $126.9 million, $116.6 million, and $108.7 million, respectively, and the Company-paid contributions were $123.9 million, $114.8 million, and $107.5 million, respectively.

Defined Benefit Plan and Other Postretirement Benefit Plans

The Company provides postretirement healthcare benefits to former officers under a medical indemnity insurance plan, with premiums paid by the Company. This plan is referred to as the Officer Medical Plan. The Company also established a non-qualified defined benefit plan for all officers in May 1995, or the Retired Officers' Bonus Plan, which pays a lump-sum amount of $10,000 per year of service as an officer, provided the officer meets retirement vesting requirements. In addition, the Company provides a fixed annual allowance after retirement to cover financial counseling and other expenses. The Retired Officers' Bonus Plan is not salary related, but rather is based primarily on years of service. During fiscal 2017, the Company adopted a new plan which will provide for a one-time, lump sum retirement payment of one month’s salary when a vice-president retires from the Company, effective April 1, 2017. This is referred to as the Retired Vice-President Bonus Plan.

The Company recognizes a liability for the defined benefit plans' underfunded status, measures the defined benefit plans' obligations that determine its funded status as of the end of the fiscal year, and recognizes as a component of accumulated other comprehensive income the changes in the defined benefit plans' funded status that are not recognized as components of net periodic benefit cost.The components of net postretirement medical expense for the Officer Medical Plan were as follows:



	Fiscal Year Ended March 31,
	2018		2017		2016
Service cost	$	4,464	$	4,851	$	5,702
Interest cost	5,008		4,782		4,505
Net actuarial loss	2,271		3,052		3,536
Total postretirement medical expense	$	11,743	$	12,685	$	13,743

The weighted-average discount rate used to determine the year-end benefit obligations was as follows:



	Fiscal Year Ended March 31,
	2018		2017		2016
Officer Medical Plan	4.10	%	4.30	%	4.25	%
Retired Officers’ Bonus Plan	4.10	%	4.30	%	4.25	%
Retired Vice Presidents' Bonus Plan	4.10	%	4.30	%	—	%

Assumed healthcare cost trend rates for the Officer Medical Plan at March 31, 2018 and 2017 were as follows:



Pre-65 initial rate	2018		2017
Healthcare cost trend rate assumed for next year	7.75	%	7.25	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.50	%	4.50	%
Year that the rate reaches the ultimate trend rate	2027		2024



Post-65 initial rate	2018		2017
Healthcare cost trend rate assumed for next year	8.00	%	8.50	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.50	%	4.50	%
Year that the rate reaches the ultimate trend rate	2027		2024

Assumed healthcare cost trend rates have a significant effect on the amounts reported for the healthcare plans. A one-percentage-point change in assumed healthcare cost trend rates calculated as of March 31, 2018 would have the following effects:



	1% Increase		1% Decrease
Effect on total of service and interest cost	$	2,049	$	(1,591	)
Effect on postretirement benefit obligation	21,514		(17,308		)

Total defined benefit plan expense, consisting of service, interest, and net actuarial gain associated with the Retired Officers' Bonus Plan was $0.7 million for fiscal 2018, 2017, and 2016. Benefits paid associated with the Retired Officers’ Bonus Plan were $1.5 million, $0.9 million, and $0.3 million for fiscal 2018, 2017, and 2016, respectively. The end-of-period benefit obligation of $3.8 million and $4.4 million as of March 31, 2018 and 2017, respectively, is included in postretirement obligations within other long-term liabilities in the accompanying consolidated balance sheets.

Total defined benefit plan expense, consisting of service, interest, prior service cost, and net actuarial gain associated with the Retired Vice-President Bonus Plan was $0.2 million for fiscal 2018. There was no defined benefit plan expense associated with the Retired Vice-President Bonus Plan for fiscal 2017. There were no benefits paid associated with the Retired Vice-President Bonus Plan for fiscal 2018 and 2017, respectively. The end-of-period benefit obligation associated with the Retired Vice-President Bonus Plan was $0.9 million and $1.0 million as of March 31, 2018 and 2017, respectively, which are recorded as postretirement obligations within other long-term liabilities in the accompanying consolidated balance sheets.

Other comprehensive loss for fiscal 2018 includes unrecognized gross actuarial gain and prior service cost of $2.7 million, reduced by taxes of $1.0 million, that has not yet been recognized in net periodic pension cost for fiscal 2018 for the Retired Officers’ Bonus Plan, the Officer Medical Plan, and the Retired Vice-President Bonus Plan. Other comprehensive loss for fiscal 2017 includes unrecognized gross actuarial gain and prior service cost of $1.1 million, reduced by taxes of $0.4 million, that has not yet been recognized in net periodic pension cost for fiscal 2017 for the Retired Officers’ Bonus Plan, the Officer Medical Plan, and the Retired Vice-President Bonus Plan.

The amounts in accumulated other comprehensive loss expected to be recognized as components of net periodic cost in fiscal 2019 are $2.1 million of net actuarial loss, $0.1 million of net prior service cost, and no net transition (asset) obligation.

The changes in the benefit obligation, plan assets, and funded status of the Officer Medical Plan were as follows:



	Fiscal Year Ended March 31,
	2018			2017			2016
Benefit obligation, beginning of the year	$	118,089		$	114,008		$	107,317
Service cost	4,464			4,851			5,702
Interest cost	5,008			4,782			4,505
Net actuarial (gain) loss	2,744			(2,219		)	(496		)
Benefits paid	(3,419		)	(3,333		)	(3,020		)
Benefit obligation, end of the year	$	126,886		$	118,089		$	114,008



	Fiscal Year Ended March 31,
Changes in plan assets	2018			2017			2016
Fair value of plan assets, beginning of the year	$	—		$	—		$	—
Employer contributions	3,419			3,333			3,020
Benefits paid	(3,419		)	(3,333		)	(3,020		)
Fair value of plan assets, end of the year	$	—		$	—		$	—

As of March 31, 2018 and 2017, the unfunded status of the Officer Medical Plan was $126.9 million and $118.1 million, respectively, which is included in other long-term liabilities in the accompanying consolidated balance sheets.

Funded Status for Defined Benefit Plans

Generally, annual contributions are made at such times and in amounts as required by law and may, from time to time, exceed minimum funding requirements. The Retired Officers’ Bonus Plan and the Retired Vice-President Bonus Plan are unfunded plans and contributions are made as benefits are paid. As of March 31, 2018 and 2017, there were no plan assets for either the Retired Officers’ Bonus Plan or the Retired Vice-President Bonus Plan and therefore, the accumulated liability of $4.7 million and $5.4 million, respectively, is unfunded. The liability will be distributed in a lump-sum payment as each officer or vice-president retires.

The expected future medical benefit payments and related contributions are as follows:




For the Fiscal Year Ending March 31,
2019	$	3,585
2020	$	3,936
2021	$	4,271
2022	$	4,679
2023	$	5,588
2024 - 2028	$	34,503

Long-term Disability Benefits

The Company offers medical and dental benefits to inactive employees (and their eligible dependents) on long-term disability. These benefits do not vary with an employee's years of service; therefore, the Company is required to accrue the costs of the benefits at the date the inactive employee becomes disability eligible and elects to participate in the benefit. The accrued cost for such benefits is calculated using an actuarial estimate. The accrued cost for these benefits was $22.8 million and $22.5 million at March 31, 2018 and 2017, respectively, and are presented in other long-term liabilities in the accompanying consolidated balance sheets.

Accumulated Other Comprehensive Loss

12 Months Ended

Mar. 31, 2018

Equity [Abstract]

Accumulated Other Comprehensive Loss

ACCUMULATED OTHER COMPREHENSIVE LOSS

All amounts recorded in other comprehensive loss are related to the Company's post-retirement plans and interest rate swaps designated as cash flow hedges. The following table shows the changes in accumulated other comprehensive income (loss), net of tax:



	Fiscal Year Ended March 31, 2018
	Post-retirement plans			Derivatives designated as cash flow hedges		Totals
Beginning of year	$	(17,077	)	$	—	$	(17,077	)
Other comprehensive income (loss) before reclassifications (1)	(1,698		)	4,993		3,295
Amounts reclassified from accumulated other comprehensive loss	1,527			—		1,527
Net current-period other comprehensive income (loss)	(171		)	4,993		4,822
Reclassification of AOCI due to the Act (2)	(3,707		)	856		(2,851		)
End of year	$	(20,955	)	$	5,849	$	(15,106	)

(1) Changes in other comprehensive income (loss) before reclassification for derivatives designated as cash flow hedges are recorded net of tax expenses of $2.9 million for the fiscal year ended March 31, 2018.

(2) The amount reclassified from accumulated other comprehensive income to retained earnings from the adoption of ASU 2018-02 as discussed in Note 2.



	Fiscal Year Ended March 31, 2017
	Post-retirement plans			Derivatives designated as cash flow hedges		Totals
Beginning of year	$	(19,613	)	$	—	$	(19,613	)
Other comprehensive income (loss) before reclassifications	688			—		688
Amounts reclassified from accumulated other comprehensive loss	1,848			—		1,848
Net current-period other comprehensive income (loss)	2,536			—		2,536
End of year	$	(17,077	)	$	—	$	(17,077	)



	Fiscal Year Ended March 31, 2016
	Post-retirement plans			Derivatives designated as cash flow hedges		Totals
Beginning of year	$	(22,159	)	$	—	$	(22,159	)
Other comprehensive income (loss) before reclassifications	404			—		404
Amounts reclassified from accumulated other comprehensive loss	2,142			—		2,142
Net current-period other comprehensive income (loss)	2,546			—		2,546
End of year	$	(19,613	)	$	—	$	(19,613	)

The following table presents the reclassifications out of accumulated other comprehensive loss to net income:



	March 31,
	2018			2017			2016
Amortization of net actuarial loss included in net periodic benefit cost (See Note 14)
Total before tax	$	2,387		$	3,050		$	3,536
Tax benefit	(860		)	(1,202		)	(1,394		)
Net of tax	$	1,527		$	1,848		$	2,142

Other Long-Term Liabilities

12 Months Ended

Mar. 31, 2018

Other Liabilities Disclosure [Abstract]

Other Long-Term Liabilities

OTHER LONG-TERM LIABILITIES

Other long-term liabilities consisted of the following:



	March 31,
	2018		2017
Deferred rent	$	79,913	$	63,854
Postretirement benefit obligations	131,526		123,492
Other (1)	29,382		28,946
Total other long-term liabilities	$	240,821	$	216,292

(1) Balances at March 31, 2018 and 2017 include the Company's long-term disability obligation of $22.8 million and $22.5 million, respectively, as well as contingent consideration of $3.6 million as discussed in Note 4.

Stockholders' Equity

12 Months Ended

Mar. 31, 2018

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

Common Stock

Holders of Class A Common Stock and Class E Special Voting Common Stock are entitled to one vote for each share as a holder. The holders of the Voting Common Stock shall vote together as a single class.

Class E Special Voting Common Stock represents the voting rights that accompany the Rollover Options. Rollover Options have a fixed vesting and exercise schedule to comply with IRS Section 409A. Upon exercise, the option will convert to Class A Common Stock, and the corresponding Class E Special Voting Common Stock will be repurchased by the Company and retired. On September 30, 2015, the Company purchased, at par value, all issued and outstanding shares of Class E special voting common stock in connection with the exercise of the final tranche of rollover options during the second quarter of fiscal 2016.

Each share of common stock, except for Class E Special Voting Common Stock, is entitled to participate equally in dividends, when and if declared by the Board of Directors from time to time, such dividends and other distributions in cash, stock, or property from the Company’s assets or funds become legally available for such purposes subject to any dividend preferences that may be attributable to preferred stock that may be authorized. The Company’s ability to pay dividends to stockholders is limited as a practical matter by restrictions in the credit agreements governing the Senior Credit Facilities.

The authorized and unissued Class A Common Stock shares are available for future issuance upon share option exercises, without additional stockholder approval.

Employee Stock Purchase Plan

In connection with the Company’s initial public offering in November 2010, the Company established a tax qualified Employee Stock Purchase Plan, or ESPP, which is designed to enable eligible employees to periodically purchase shares of the Company’s Class A Common Stock up to an aggregate of 10,000,000 shares at a five percent discount from the fair market value of the Company’s common stock. The ESPP provides for quarterly offering periods, the first of which commenced on April 1, 2011. For the year ended March 31, 2018, 254,380 Class A Common Stock shares were purchased by employees under the ESPP. Since the program's inception, 2,189,287 shares have been purchased by employees.

Share Repurchase Program

On December 12, 2011, the Board of Directors approved a $30.0 million share repurchase program, to be funded from cash on hand. A special committee of the Board of Directors was appointed to evaluate market conditions and other relevant factors and initiate repurchases under the program from time to time. On January 27, 2015, January 25, 2017, and November 2, 2017, the Board of Directors approved increases to the share repurchase authorization to $180.0 million, $410.0 million and $610.0 million, respectively. The share repurchase program may be suspended, modified or discontinued at any time at the Company’s discretion without prior notice. During fiscal 2018, the Company purchased 7.2 million shares of the Company’s Class A Common Stock in a series of open market transactions for $257.6 million. During fiscal 2017, the Company purchased 1.3 million shares of the Company’s Class A Common Stock in a series of open market transactions for $46.4 million. As of March 31, 2018, the Company had $197.9 million remaining under the repurchase program.

Dividends

The following table summarizes the cash distributions recognized in the consolidated statement of cash flows:



	Fiscal Year Ended March 31,
	2018		2017		2016
Recurring dividends (1)	$	103,411	$	92,925	$	80,015
Dividend equivalents (2)	951		2,254		31,802
Total distributions	$	104,362	$	95,179	$	111,817

(1) Amounts represent recurring quarterly dividends that were declared and paid for during each quarter of fiscal 2018, 2017, and 2016.

(2) Dividend equivalents are distributions made to option holders equal to the special dividends declared and paid.

The total payout of the dividend and the dividend equivalents have been presented as a financing activity within the consolidated statement of cash flows.

Stock-Based Compensation

12 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

STOCK-BASED COMPENSATION

The following table summarizes stock-based compensation expense recognized in the consolidated statements of operations:



	Fiscal Year Ended March 31,
	2018		2017		2016
Cost of revenue	$	7,771	$	5,756	$	7,001
General and administrative expenses	15,547		15,493		17,991
Total	$	23,318	$	21,249	$	24,992

The following table summarizes the total stock-based compensation expense recognized in the consolidated statements of operations by the following types of equity awards:



	Fiscal Year Ended March 31,
	2018		2017		2016
Equity Incentive Plan Options	$	2,036	$	2,523	$	3,702
Restricted Stock Awards	21,282		18,726		21,290
Total	$	23,318	$	21,249	$	24,992

As of March 31, 2018 and 2017, there was $17.3 million and $12.8 million, respectively, of total unrecognized compensation cost related to unvested stock-based compensation agreements. The unrecognized compensation cost as of March 31, 2018 is expected to be fully amortized over the next 4 years. Absent the effect of accelerating stock compensation cost for any departures of employees who may continue to vest in their equity awards, the following tables summarize the unrecognized compensation cost, the weighted average period the cost is expected to be amortized, and the estimated annual compensation cost for the future periods indicated below (excludes any future awards):



	Unrecognized Compensation Cost				Weighted Average Remaining Period to be Recognized
	March 31, 2018		March 31, 2017		March 31, 2018	March 31, 2017
Equity Incentive Plan Options	$	2,809	$	1,777	3.60	2.84
Restricted Stock Awards	14,512		11,007		1.87	1.75
Total	$	17,321	$	12,784



	Total Unrecognized Compensation Cost
	Total		2019		2020		2021		2022		2023
Equity Incentive Plan Options	$	2,809	$	1,417	$	812	$	404	$	176	$	—
Restricted Stock Awards	14,512		9,910		4,589		13		—		—
Total	$	17,321	$	11,327	$	5,401	$	417	$	176	$	—

Equity Incentive Plan

The Company's Equity Incentive Plan, or EIP, was adopted in connection with the Merger Agreement for employees and directors of Holding. The EIP was amended and restated in 2010 in connection with the Company’s initial public offering, and was again amended and restated on May 22, 2014. Awards under the EIP may be made in the form of stock options; stock purchase rights; restricted stock; restricted stock units; performance shares; performance units; stock appreciation rights; dividend equivalents; deferred share units; dividend equivalents; and other stock-based awards.

Stock Options

Stock options under the EIP are granted at the discretion of the Board of Directors or its Compensation Committee and expire ten years from the grant date. Stock options generally vest in equal installments over a five-year period subject to the grantee’s continued service on each applicable vesting. All options under the EIP are exercisable, upon vesting, for shares of Class A common stock of Holding. The Company calculates the pool of additional paid-in capital associated with excess tax benefits using the “simplified method.”

On May 17, 2017, 211,822 options were granted under the EIP. The estimated fair value of the per-option grant was $9.32, resulting in a total fair value of $2.0 million.

On May 19, 2017, 158,283 options were granted under the EIP. The estimated fair value of the per-option grant was $9.48, resulting in a total fair value of $1.5 million.

On August 2, 2017, 5,631 options were granted under the EIP. The estimated fair value of the per-option grant was $8.88, resulting in a total fair value of $0.05 million.

On January 31, 2018, 17,274 options were granted under the EIP. The estimated fair value of the per-option grant was $8.68, resulting in a total fair value of $0.1 million.

The aggregate grant date fair value of the EIP Options issued during fiscal 2018 and 2017, was $3.7 million and $0.4 million, respectively, and is being recorded as expense over the vesting period. The total fair value of EIP Options vested during fiscal 2018 and 2017 was $2.7 million and $11.8 million, respectively. The total intrinsic value of EIP options exercised during fiscal 2018 and 2017 was $36.7 million and $49.0 million, respectively. As of March 31, 2018 and 2017, there were 11,433,883 and 12,026,970 options, respectively, available for future grant under the EIP.

Annual Incentive Plans

On October 1, 2010, the Board of Directors adopted an Annual Incentive Plan (or “AIP”) in connection with the initial public offering to more appropriately align the Company’s compensation programs with those of similarly situated companies. The amount of the annual incentive payment is determined based on performance targets established by the Board of Directors and a portion of the bonus may be paid in the form of equity (including stock and other awards under the EIP). For bonus periods prior to the 2018 fiscal year, if the Board of Directors elected to make a portion of the payments in equity, the value of the portion of the AIP award paid in equity was increased by 20%. Such equity awards vest over a three-year period subject to the employee’s continued service to the Company. The portion paid in the form of equity was recognized in the accompanying consolidated statements of operations based on grant date fair value over the vesting period of three years. The portion paid in cash was accrued ratably during the fiscal year in which the employees provide service and paid out during the first quarter of the subsequent fiscal year.

During fiscal 2018, the Company implemented a new annual incentive program for officers. The equity compensation would be issued in the form of restricted stock units of which a portion would vest based on the passage of time, and the other portion would vest based on specified performance conditions to be achieved over a specified time period. A restricted stock unit represents a contingent right to receive one share of Class A Common Stock upon vesting. Service-based restricted stock units vest in equal installments over a three-year period subject to the grantee's continued service on each applicable vesting date and are settled for shares of the Company's common stock. Dividend equivalents are paid in respect of the service-based restricted stock units when dividends are paid on the Company's common stock. Performance-based awards vest at the end of a three-year period subject to certain specified financial performance criteria and the grantee's continued service through the period. These awards are settled for Company Class A Common Stock and dividend equivalents. Compensation expense for performance-based awards during the performance period is estimated at each reporting date using management's expectation of the probable achievement of the specified performance criteria.

Grants of Class A Restricted Common Stock and Restricted Stock Units

During fiscal 2018, the Board of Directors granted an aggregate of 786,350 Restricted Stock Units with service-based and performance-based vesting conditions to existing officers and vice presidents of the Company, as well as to newly promoted and hired partners and vice presidents. A portion of these awards were issued in conjunction with the Annual Incentive Plan, whereby a portion of the incentive payment was paid in the form of Restricted Stock Units. The awards issued to newly hired and promoted employees will vest over a three-year period subject to the employees' continued employment with the Company.

The Board of Directors also granted 58,735 shares of Class A Restricted Common Stock to members of the Board of Directors during fiscal 2018. These awards generally vest over one year.

The aggregate fair value of all awards issued during fiscal 2018 was $29.3 million and was based on the grant date stock price, which ranged from $32.55 to $39.18. This amount will be recognized in the accompanying consolidated statements of operations over the applicable vesting period of the awards.

The total fair value of restricted stock shares vested during fiscal 2018 and 2017 was $26.7 million and $30.2 million, respectively.

As permitted under the terms of the EIP, the Compensation Committee, as Administrator of the Plan, authorized the withholding of taxes not to exceed the minimum statutory withholding amount, through the surrender of shares of Class A common stock issuable upon the vesting or accelerated vesting of Restricted Stock. As a result of these transactions, the Company repurchased 140,534 shares on June 30, 2017 and 190,295 shares on March 31, 2018 and recorded them as treasury shares at a total cost of $11.9 million in fiscal 2018.

Methodology

The Company uses the Black-Scholes option-pricing model to determine the estimated fair value for stock-based awards. The fair value of the Company’s stock is based on the closing price on the New York Stock Exchange.

During fiscal 2018, the Company’s Board of Directors authorized and declared three regular quarterly cash dividends of $0.17 per share and one quarterly cash dividend of $0.19 per share. Therefore, an annualized dividend yield between 1.89% and 2.00% was used in the Black-Scholes option-pricing model for all grants issued during the fiscal year. The Company plans to continue paying recurring dividends in the near term and assessing its excess cash resources to determine the best way to utilize its excess cash flow to meet its objectives. One way the Company may utilize excess cash includes the payment of special dividends. The Company does not anticipate or forecast the payment of special dividends and therefore does not include special dividends in the annual dividend yield that the company uses to calculate the fair value of stock options, as the Company does not pay these special dividends on a regular basis.

Implied volatility is calculated as of each grant date based on our historical volatility. Other than the expected life of the option, volatility is the most sensitive input to our option grants.

The risk-free interest rate is determined by reference to the U.S. Treasury yield curve rates with the remaining term equal to the expected life assumed at the date of grant. The average expected life is calculated based on the Company's historical experience with respect to its stock plan activity in combination with an estimate of when vested and unexercised option shares will be exercised. Forfeitures were estimated based on the Company’s historical analysis of officer and vice-president attrition levels and actual forfeiture rates by grant date.

The weighted average assumptions used in the Black-Scholes option-pricing model for stock option awards were as follows:



	For The Fiscal Year Ended March 31,
	2018	2017	2016
Dividend yield	1.9%	1.94%	1.83%
Expected volatility	33.04%	29.65%	29.85%
Risk-free interest rate	1.81%	1.38%	1.33%
Expected life (in years)	5.00	5.00	5.08
Weighted-average grant date fair value	$9.35	$7.16	$6.67

Special Dividends

The Compensation Committee, acting as the Administrator of the EIP, has discretion in how to effect the required adjustment to keep option holders whole in the event of a distribution of dividends that trigger certain anti-dilution clauses within the respective plans. In the event the Compensation Committee elects to grant option holders a cash payment equal to the amount of the special dividend, the Company accrues a stock-based compensation liability as the EIP options are scheduled to be vested. The obligation will be settled on the later of the date the dividend is paid or the vesting date of the EIP options. The stock-based compensation liability includes all special dividends declared for which eligible EIP option holders have not yet received a distribution.

On June 30, 2017, vested EIP option holders received a payment of $0.9 million related to the special dividends declared in fiscal years, 2014, and 2015. On March 31, 2018, vested EIP option holders received a payment of $0.06 million related to the special dividends declared in fiscal years 2014 and 2015. Payment of the dividend equivalents were accounted for as modifications resulting in incremental benefit to the option holders resulting in additional compensation expense. Total compensation expense recorded in conjunction with the payment of all dividend equivalents to holders of unvested EIP options for the fiscal year ended March 31, 2018 was $0.03 million.

The following table summarizes unvested restricted stock activity for the periods presented:



	Number of Shares	Weighted Average Grant Date Fair Value

Unvested Restricted Stock Awards
Unvested at March 31, 2017	1,277,508	25.71
Granted	845,085	34.70
Vested	1,007,214	26.46
Forfeited	158,273	28.66
Unvested at March 31, 2018	957,106	32.36

The following table summarizes stock option activity for the periods presented:



	Number of Options	Weighted Average Exercise Price
Equity Incentive Plan Options
Options outstanding at March 31, 2017	3,824,237	$	13.99	*
Granted	393,010	35.89
Forfeited	108,369	23.17
Expired	47,835	22.70
Exercised	1,261,089	9.59
Options outstanding at March 31, 2018	2,799,954	$	18.55	*

* Reflects exercise price adjustment of $6.36 per grant for the $6.50 dividend per share issued July 30, 2012.

The following table summarizes unvested stock options for the periods presented:



	Number of Options	Weighted Average Grant Date Fair Value
Equity Incentive Plan Options
Unvested at March 31, 2017	812,561	$	5.61
Granted	393,010	9.35
Vested	459,335	5.95
Forfeited	108,369	5.59
Unvested at March 31, 2018	637,867	$	7.68

The following table summarizes stock options outstanding at March 31, 2018:



Range of exercise prices	Stock Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Intrinsic Value		Stock Options Exercisable	Weighted Average Exercise Price	Weighted Average Remaining Contractual Life	Intrinsic Value
				(In years)					(In years)
Equity Incentive Plan
$4.28 - $39.18	2,799,954	$18.55	(1)	4.99	$	56,477	2,162,087	$14.96	4.13	$51,372

(1) Reflects exercise price adjustment of $6.36 per grant for the $6.50 dividend per share issued July 30, 2012.

Fair Value Measurements

12 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

The accounting standard for fair value measurements establishes a three-tier value hierarchy, which prioritizes the inputs used in measuring fair value as follows: observable inputs such as quoted prices in active markets (Level 1); inputs other than quoted prices in active markets that are observable either directly or indirectly (Level 2); and unobservable inputs in which there is little or no market data, which requires the Company to develop its own assumptions (Level 3).

A financial instrument's level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. The financial instruments measured at fair value in the accompanying consolidated balance sheets consist of the following:



	Recurring Fair Value Measurements as of March 31, 2018
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents:
Cash and cash equivalents	$	51,870	$	—	$	—	$	51,870
Money market funds (1)	207,618		27,470		—		235,088
Total cash and cash equivalents	$	259,488	$	27,470	$	—	$	286,958
Other Assets:
Current derivative instruments (3)	$	—	$	700	$	—	$	700
Long-term derivative instruments (3)	—		7,225		—		7,225
Total Other Assets	$	—	$	7,925	$	—	$	7,925
Liabilities:
Contingent consideration liability (2)	$	—	$	—	$	3,576	$	3,576
Total liabilities	$	—	$	—	$	3,576	$	3,576



	Recurring Fair Value Measurements as of March 31, 2017
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents:
Cash and cash equivalents	$	59,825	$	—	$	—	$	59,825
Money market funds (1)	—		157,592		—		157,592
Total cash and cash equivalents	$	59,825	$	157,592	$	—	$	217,417
Liabilities:
Contingent consideration liability (2)	—		—		$	3,576	3,576
Total liabilities	$	—	$	—	$	3,576	$	3,576

(1) Level 2 cash and cash equivalents are invested in money market funds that are intended to maintain a stable net asset value of $1.00 per share by investing in liquid, high quality U.S. dollar-denominated money market instruments. Therefore, the fair value approximates the carrying value. Depending on our short-term liquidity needs, we make regular transfers between money market funds and other cash equivalents.

(2) As discussed in Note 4, the Company recognized a contingent consideration liability in connection with the acquisition of Aquilent. As of March 31, 2018 and 2017, the estimated fair value of the contingent consideration liability was $3.6 million and was valued using probability-weighted cash flows, which is based on the use of Level 3 fair value measurement inputs. The liability is recorded in other long-term liabilities in the consolidated balance sheet.

(3) The Company’s interest rate swaps are considered over-the-counter derivatives and fair value is estimated based on the present value of future cash flows using a model-derived valuation that uses Level 2 observable inputs such as interest rate yield curves. See Note 12 to our consolidated financial statements for further discussion on the Company’s derivative instruments designated as cash flow hedges.

The fair value of the Company's debt instruments approximated its carrying value at March 31, 2018 and 2017. The fair value of debt is determined using quoted prices or other market information obtained from recent trading activity of each debt tranche in markets that are not active (Level 2 inputs). The fair value is corroborated by prices derived from the interest rate spreads of recently completed leveraged loan transactions of a similar credit profile, industry, and terms to that of the Company. The fair value of Senior Notes is determined using quoted prices or other market information from recent trading activity in the high-yield bond market (Level 2 inputs).

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Related-Party Transactions	12 Months Ended
Related-Party Transactions	Mar. 31, 2018
Related Party Transactions [Abstract]
Related-Party Transactions	RELATED-PARTY TRANSACTIONS In March 2017, the Company supported the formation of the Booz Allen Foundation, a nonprofit corporation organized and operated exclusively for charitable, scientific and educational purposes within the meaning of Section 501(c)(3) of the Code. The Company is the sole member of the foundation, which gives it the authority to appoint two out of five of the Booz Allen Foundation’s directors and consent rights regarding certain extraordinary corporate actions approved by the board of directors. The Company has made a binding and irrevocable pledge of $5.0 million to the Booz Allen Foundation and recorded the pledge obligation in other current liabilities on the consolidated balance sheet of the Company in March 2017. As of March 31, 2018, $1.7 million of the pledge has been paid to the Booz Allen Foundation and is classified within operating activities in the consolidated statement of cash flows.

Commitments and Contingencies

12 Months Ended

Mar. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

COMMITMENTS AND CONTINGENCIES

Leases

The Company leases office space under noncancelable operating leases that expire at various dates through 2031. The terms for the facility leases generally provide for rental payments on a graduated scale, which are recognized on a straight-line basis over the terms of the leases, including reasonably assured renewal periods, from the time the Company controls the leased property. Sometimes lease payments include payments for insurance, maintenance, and property taxes. There are no purchase options on operating leases at terms favorable to market rents. Lease incentives are recorded as a deferred credit and recognized as a reduction to rent expense on a straight-line basis over the lease term. Rent expense was approximately $81.2 million, net of $0.6 million of sublease income, $81.6 million, net of $0.5 million of sublease income, and $88.5 million, net of $0.5 million of sublease income, for fiscal 2018, 2017, and 2016, respectively.

Future minimum operating lease payments for noncancelable operating leases and future minimum income for noncancelable sublease rentals are summarized as follows:



For the Fiscal Year Ending March 31,	Operating Lease Payments		Operating Sublease Income
2019	$	71,013	$	276
2020	66,879		24
2021	56,153		—
2022	45,800		—
2023	41,773		—
Thereafter	141,889		—
	$	423,507	$	300

Rent expense is included in occupancy costs, a component of general and administrative expenses, as shown on the consolidated statements of operations, and includes rent, sublease income from third parties, real estate taxes, utilities, parking, security, repairs and maintenance, and storage costs.

Letters of Credit and Third-Party Guarantees

As of March 31, 2018 and 2017, the Company was contingently liable under open standby letters of credit and bank guarantees issued by our banks in favor of third parties that totaled $6.3 million and $8.6 million, respectively. These letters of credit and bank guarantees primarily support insurance and bid and performance obligations. At March 31, 2018 and 2017, approximately $1.4 million and $1.7 million, respectively, of these instruments reduce the available borrowings under the Revolving Credit Facility. The remainder is guaranteed under a separate $15.0 million facility established in fiscal 2015 of which $10.1 million and $3.1 million, respectively, was available to the Company at March 31, 2018 and 2017.

Government Contracting Matters

For fiscal 2018, 2017, and 2016, approximately 97%, 97%, and 97%, respectively, of the Company’s revenue was generated from contracts where the end user was an agency or department of the U.S. government, including contracts where the Company performed in either as a prime contractor or subcontractor, and regardless of the geographic location in which the work was performed. U.S. government contracts and subcontracts are subject to extensive legal and regulatory requirements. From time to time and in the ordinary course of business, agencies of the U.S. government audit our contract costs and conduct inquiries and investigations of our business practices with respect to government contracts to determine whether the Company’s operations are conducted in accordance with these requirements and the terms of the relevant contracts. U.S. government agencies, including the Defense Contract Audit Agency, routinely audit our contract costs, including allocated indirect costs for compliance with the Cost Accounting Standards and the Federal Acquisition Regulation. These agencies also conduct reviews and investigations and make inquiries regarding our accounting and other systems in connection with our performance and business practices with respect to our government contracts. U.S. government audits, inquiries, or investigations of the Company, whether related to the Company’s U.S. government contracts or subcontracts or conducted for other reasons, could result in administrative, civil, or criminal liabilities, including withholding of payments, suspension of payments, repayments, fines, or penalties being imposed upon the Company, or could lead to suspension or debarment from future U.S. government contracting. Management believes it has recorded the appropriate provision for any such audit, inquiry, or investigation of which it is aware. Management believes it has recorded the appropriate provision for the estimated losses that may be experienced from any such reductions and/or penalties. As of March 31, 2018 and 2017, the Company has recorded a liability of approximately $168.6 million and $175.7 million, respectively, for its current best estimate of amounts to be refunded to customers for potential adjustments from audits or reviews of contract costs incurred subsequent to fiscal year 2011, and for contracts not yet closed that are impacted by settlement of audits or reviews of contract costs incurred in prior fiscal years.

Litigation

The Company is involved in legal proceedings and investigations arising in the ordinary course of business, including those relating to employment matters, relationships with clients and contractors, intellectual property disputes, and other business matters. These legal proceedings seek various remedies, including claims for monetary damages in varying amounts, none of which are considered material, or are unspecified as to amount. Although the outcome of any such matter is inherently uncertain and may be materially adverse, based on current information, management does not expect any of the currently ongoing audits, reviews, investigations, or litigation to have a material adverse effect on the Company’s financial condition and results of operations. As of March 31, 2018 and 2017, there were no material amounts accrued in the consolidated financial statements related to these proceedings.

Six former officers and stockholders who had departed the company prior to the acquisition of the Company by the Carlyle Group (the "Carlyle Acquisition") have filed a total of nine suits in various jurisdictions, with original filing dates ranging from July 3, 2008 through December 15, 2009, against us and certain of our current and former directors and officers. Three of these suits were amended on July 2, 2010 and then further amended into one consolidated complaint on September 7, 2010. Another two of the original nine suits were consolidated into one complaint on September 24, 2014. Each of the suits arises out of the Carlyle Acquisition and alleges that the former stockholders are entitled to certain payments that they would have received if they had held their stock at the time of the Carlyle Acquisition. Some of the suits also allege that the acquisition price paid to stockholders was insufficient. The various suits assert claims for breach of contract, tortious interference with contract, breach of fiduciary duty, civil Racketeer Influenced and Corrupt Organizations Act, or RICO, violations, violations of the ERISA, and/or securities and common law fraud. Three of these suits have been dismissed with all appeals exhausted. The two suits that were consolidated into one action on September 24, 2014 were settled on April 16, 2015. One of the remaining suits has been dismissed by the United States District Court for the Southern District of California and such dismissal was upheld by the United States Court of Appeals for the Ninth Circuit. The plaintiff in this suit subsequently filed a Petition for Writ of Certiorari to the United States Supreme Court, which was denied by the United States Supreme Court on January 9, 2017. The other three remaining suits that were previously consolidated on September 7, 2010 have been dismissed by the United States District Court for the Southern District of New York and were on appeal before the United States Court of Appeals for the Second Circuit. On July 13, 2017, the United States Court of Appeals for the Second Circuit affirmed the ruling of the United States District Court for the Southern District of New York, except for one plaintiff’s securities fraud claim, which was remanded to the United States District Court for the Southern District of New York to give the plaintiff, Paul Kocourek, leave to file another amended complaint to attempt to plead a securities fraud claim. On April 6, 2018, the plaintiff filed an amended complaint in which Mr. Kocourek, individually, as Trustee of the Paul Kocourek Trust and on behalf of the putative class, alleges that the Company and certain former officers and directors violated Sections 10(b), 20(a) and 14(e) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). On April 25, 2018, the court entered an order postponing the deadline within which the defendants must answer or move to dismiss the amended complaint. A lead plaintiff has not been appointed.

As of March 31, 2018, the aggregate alleged damages that will be sought in the remaining suit is unknown. As of March 31, 2018, although the outcome of any of these cases is inherently uncertain and may be materially adverse, based on current information, management does not expect them to have a material adverse effect on our financial condition and results of operations.

On June 7, 2017, Booz Allen Hamilton Inc. was informed that the U.S. Department of Justice (DOJ) is conducting a civil and criminal investigation of the Company. In connection with the investigation, the DOJ has requested information from the Company relating to certain elements of the Company’s cost accounting and indirect cost charging practices with the U.S. government. Since learning of the investigation, the Company has engaged a law firm experienced in these matters to represent the Company in connection with this matter and respond to the government's requests. As is commonly the case with this type of matter, the Company has also been in contact with other regulatory agencies and bodies, including the Securities and Exchange Commission, which notified the Company that it is conducting an investigation that the Company believes relates to matters that are also the subject of the DOJ's investigation. The Company may receive additional regulatory or governmental inquiries related to the matters that are the subject of the DOJ's investigation. In accordance with the Company's practice, the company is cooperating with all relevant government parties. The total cost associated with these matters will depend on many factors, including the duration of these matters and any related findings. At this stage, the Company is not able to reasonably estimate the expected amount or range of cost or any loss associated with these matters.

On June 19, 2017, a purported stockholder of the Company filed a putative class action lawsuit in the United States District Court for the Eastern District of Virginia styled Langley v. Booz Allen Hamilton Holding Corp., No. 17-cv-00696 naming the Company, its Chief Executive Officer and its Chief Financial Officer as defendants purportedly on behalf of all purchasers of the Company’s securities from May 19, 2016 through June 15, 2017. On September 5, 2017, the court named two lead plaintiffs and on October 20, 2017, the lead plaintiffs filed a consolidated amended complaint. The complaint asserts claims under Sections 10(b) and 20(a) of the Exchange Act, and Rule 10b-5 promulgated thereunder, alleging misrepresentations or omissions by the Company purporting to relate to matters that are the subject of the DOJ investigation described above. The plaintiffs seek to recover from the Company and the individual defendants an unspecified amount of damages. The Company believes the suit lacks merit and intends to defend against the lawsuit. Motions to dismiss were argued on January 12, 2018, and on February 8, 2018, the court dismissed the amended complaint in its entirety without prejudice. At this stage of the lawsuit, the Company is not able to reasonably estimate the expected amount or range of cost or any loss associated with the lawsuit.

On November 13, 2017, a Verified Shareholder Derivative Complaint was filed in the United States District Court for the District of Delaware styled Celine Thum v. Rozanski et. al., C.A. No. 17-cv-01638, naming the Company as a nominal defendant and numerous current and former officers and directors as defendants. The complaint asserts claims for breach of fiduciary duties, unjust enrichment, waste of corporate assets, abuse of control, gross mismanagement, and violations of Sections 14(a), 10(b) and 20(a) of the Exchange Act, purportedly relating to matters that are the subject of the DOJ investigation described above. The parties have stipulated to a stay of the proceedings pending the outcome of the securities litigation (described above), which the court so ordered on January 24, 2018. At this stage of the lawsuit, the Company is not able to reasonably estimate the expected amount or range of cost or any loss associated with the lawsuit.

Business Segment Information	12 Months Ended
Business Segment Information	Mar. 31, 2018
Segment Reporting [Abstract]
Business Segment Information	BUSINESS SEGMENT INFORMATION The Company reports operating results and financial data in one operating and reportable segment. The Company manages its business as a single profit center in order to promote collaboration, provide comprehensive functional service offerings across its entire client base, and provide incentives to employees based on the success of the organization as a whole. Although certain information regarding served markets and functional capabilities is discussed for purposes of promoting an understanding of the Company’s complex business, the Company manages its business and allocates resources at the consolidated level of a single operating segment.

Unaudited Quarterly Financial Data

12 Months Ended

Mar. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Unaudited Quarterly Financial Data

UNAUDITED QUARTERLY FINANCIAL DATA



	2018 Quarters
	First		Second		Third		Fourth
Revenue	$	1,493,570	$	1,542,085	$	1,499,914	$	1,636,284
Operating income	139,464		126,486		118,087		136,048
Income before income taxes	121,478		106,091		98,013		112,422
Net income	79,540		70,913		69,773		84,885
Earnings per common share:
Basic (1)	$	0.53	$	0.48	$	0.48	$	0.59
Diluted (1)	$	0.53	$	0.47	$	0.47	$	0.58



	2017 Quarters
	First		Second		Third		Fourth
Revenue	$	1,422,722	$	1,394,853	$	1,404,638	$	1,582,071
Operating income	129,301		117,661		108,124		129,161
Income before income taxes	113,364		97,747		92,615		108,174
Net income	67,817		62,830		55,590		66,253
Earnings per common share:
Basic (1)	$	0.46	$	0.42	$	0.37	$	0.44
Diluted (1)	$	0.45	$	0.41	$	0.37	$	0.44

(1) Earnings per share are computed independently for each of the quarters presented and therefore may not sum to the total for the fiscal year.

Supplemental Financial Information

12 Months Ended

Mar. 31, 2018

Valuation and Qualifying Accounts [Abstract]

Supplemental Financial Information

SUPPLEMENTAL FINANCIAL INFORMATION

The following schedule summarizes valuation and qualifying accounts for the periods presented:



	Fiscal Year Ended March 31,
	2018			2017			2016
Allowance for doubtful accounts:
Beginning balance	$	—		$	656		$	357
Provision for doubtful accounts	706			(135		)	352
Charges against allowance	(629		)	(521		)	(53		)
Ending balance	$	77		$	—		$	656
Tax valuation allowance
Beginning balance	—			—			—
Deductions and other adjustments	(1,373		)	—			—
Ending balance	$	(1,373	)	—			—

Subsequent Events	12 Months Ended
Subsequent Events	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Shares repurchased and withheld to cover taxes The Company paid $1.8 million and $7.3 million during the first quarter of fiscal 2019, respectively, for 46,300 shares repurchased and 190,295 shares withheld to cover taxes related to Restricted Stock vesting during the fourth quarter of fiscal 2018 that had not settled in cash by March 31, 2018. Dividend Declared On May 29, 2018, the Company announced that its Board of Directors had declared a quarterly cash dividend of $0.19 per share. Payment of the dividend will be made on June 29, 2018 to stockholders of record at the close of business on June 14, 2018. Share Repurchase Authorization On May 24, 2018, the Board of Directors approved an increase to our share repurchase authorization from $610.0 million to up to $910.0 million. As of May 24, 2018, taking into effect the increase in the share repurchase authorization, the Company may repurchase up to approximately $493.7 million of additional shares of common stock under its share repurchase program.

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Basis of Presentation

Reclassification

Certain amounts reported in the Company's prior year consolidated financial statements have been reclassified to conform to the current year presentation.

Use of Estimates

Revenue Recognition

Cash and Cash Equivalents

Valuation of Accounts Receivable

Concentrations of Credit Risk

Property and Equipment

Business Combinations

The Company provides for income taxes as a “C” corporation on income earned from operations. The Company is subject to federal, state, and foreign taxation in various jurisdictions.

Comprehensive Income

Share-Based Payments

Defined Benefit Plan and Other Postretirement Benefits

Self-Funded Medical Plans

Fair Value Measurements

Recent Accounting Pronouncements


•	The Company expects insignificant changes related to recognizing revenue and earnings over time for long-term contracts as work progresses because of the continuous transfer of control to the customer, generally using an input measure (e.g., costs incurred) to reflect progress.


•	The determination of the customer and contract under Topic 606 will not significantly change.


•	Revenue previously deferred for non-federal government arrangements that commenced without a signed, written contract may be recognized under Topic 606 when such arrangements are legally enforceable under applicable laws and regulations.

•


•	The determination of contract transaction price associated with performance-based contracts (i.e., incentive or award-based contracts) will generally be consistent with the Company's current measurement practices for such contracts. The Company's estimates at completion for most fixed price contracts will now include unfunded components.

•


•	Contracts with significant up-front materials are expected to see an increase in the amount of revenue and costs recognized upon the date of the adoption, but the change in profitability is not expected to be significant.

Earnings Per Share (Tables)

12 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Reconciliation of the income used to compute basic and diluted EPS

A reconciliation of the income used to compute basic and diluted EPS for the periods presented are as follows:



	Fiscal Year Ended March 31,
	2018		2017		2016
Earnings for basic computations (1)	$	303,224	$	250,231	$	290,542
Weighted-average Class A Common Stock outstanding	145,964,574		148,218,968		146,494,407
Total weighted-average common shares outstanding for basic computations	145,964,574		148,218,968		146,494,407
Earnings for diluted computations (1)	$	303,238	$	250,249	$	290,596
Dilutive stock options and restricted stock	1,785,448		2,055,672		3,224,730
Average number of common shares outstanding for diluted computations	147,750,022		150,274,640		149,719,137
Earnings per common share
Basic	$	2.08	$	1.69	$	1.98
Diluted	$	2.05	$	1.67	$	1.94

Acquisitions (Tables)

12 Months Ended

Mar. 31, 2018

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table represents the final allocation of fair value of assets acquired and liabilities assumed:




Current assets	$	15,809
Other tangible assets	1,144
Customer-relationship intangible assets	69,000
Goodwill	199,826
Current liabilities	(8,450		)
Tax liability	(13,554		)
Income tax uncertainty	(10,221		)
Total purchase consideration transfer at closing	$	253,554

Goodwill and Intangible Assets (Tables)

12 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets

Intangible assets consisted of the following:



	March 31, 2018						March 31, 2017
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Amortizable intangible assets:
Customer relationships and other amortizable intangible assets	$	115,808	$	45,036	$	70,772	$	274,915	$	193,235	$	81,680

Unamortizable intangible assets:
Trade name	$	190,200	$	—	$	190,200	$	190,200	$	—	$	190,200

Total	$	306,008	$	45,036	$	260,972	$	465,115	$	193,235	$	271,880

Summary of Expected Amortization Expense for Intangible Assets

The following table summarizes the estimated annual amortization expense for future periods indicated below:



For the Fiscal Year Ended March 31,
2019	$	15,723
2020	12,985
2021	10,166
2022	7,647
2023	6,557
Thereafter	17,694
Total estimated amortization expense	$	70,772

Accounts Receivable, Net of Allowance (Tables)

12 Months Ended

Mar. 31, 2018

Receivables [Abstract]

Summary of Accounts Receivable, Net

Accounts receivable, net of allowance consisted of the following:



	March 31,
	2018			2017
Current assets:
Accounts receivable–billed	$	395,136		$	340,716
Accounts receivable–unbilled	735,393			651,094
Allowance for doubtful accounts	(77		)	—
Accounts receivable, net	1,130,452			991,810
Other long-term assets:
Accounts receivable–unbilled	59,633			59,913
Total accounts receivable, net	$	1,190,085		$	1,051,723

Property and Equipment, Net (Tables)

12 Months Ended

Mar. 31, 2018

Property, Plant and Equipment [Abstract]

Summary of Components of Property and Equipment, Net

The components of property and equipment, net were as follows:



	March 31,
	2018			2017
Furniture and equipment	$	164,061		$	151,552
Computer equipment	79,629			75,159
Software	59,051			48,361
Leasehold improvements	202,133			177,009
Total	504,874			452,081
Less: Accumulated depreciation and amortization	(334,978		)	(312,914		)
Property and equipment, net	$	169,896		$	139,167

Accounts Payable and Other Accrued Expenses (Tables)

12 Months Ended

Mar. 31, 2018

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Other Accrued Expenses

Accounts payable and other accrued expenses consisted of the following:



	March 31,
	2018		2017
Vendor payables	$	339,993	$	268,630
Accrued expenses	217,566		235,487
Total accounts payable and other accrued expenses	$	557,559	$	504,117

Accrued Compensation and Benefits (Tables)

12 Months Ended

Mar. 31, 2018

Schedule of Accrued Compensation and Benefits

Accrued compensation and benefits consisted of the following:



	March 31,
	2018		2017
Bonus	$	87,817	$	77,765
Retirement	35,743		31,879
Vacation	131,519		124,486
Other	27,671		29,686
Total accrued compensation and benefits	$	282,750	$	263,816

Deferred Payment Obligation (Tables)

12 Months Ended

Mar. 31, 2018

Other Liabilities Disclosure [Abstract]

Summary of Deferred Payment Obligation

A reconciliation of the principal balance of the DPO to the amount recorded in the consolidated balance sheets for the periods presented are as follows:



	March 31,
	2018		2017
Deferred payment obligation:	$	80,000	$	80,000
Accrued interest	1,311		1,304
Amount recorded in the consolidated balance sheet	$	81,311	$	81,304

Debt (Tables)

12 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Schedule of Debt

Debt consisted of the following:



	March 31, 2018					March 31, 2017
	Interest Rate		Outstanding Balance			Interest Rate		Outstanding Balance
Term Loan A	3.88	%	$	1,094,275		2.98	%	$	1,153,425
Term Loan B	3.88	%	395,000			3.08	%	398,000
Revolving credit facility (ABR)	—	%	—			5.00	%	80,000
Revolving credit facility (LIBOR)	—	%	—			2.98	%	50,000
Senior Notes	5.13	%	350,000			—	%	—
Less: Unamortized debt issuance costs and discount on debt			(20,696		)			(18,101		)
Total			1,818,579					1,663,324
Less: Current portion of long-term debt			(63,100		)			(193,150		)
Long-term debt, net of current portion			$	1,755,479				$	1,470,174

Schedule of Future Debt Principal Repayments

The following table summarizes required future debt principal repayments (in thousands):



	Payments Due By March 31,
	Total	2019	2020	2021	2022	2023	Thereafter
Term Loan A	$1,094,275	$59,150	$59,150	$59,150	$916,825	$—	$—
Term Loan B	395,000	3,950	3,950	3,950	3,950	3,950	375,250
Senior Notes	350,000	—	—	—	—	—	350,000
Total	$1,839,275	$63,100	$63,100	$63,100	$920,775	$3,950	$725,250

Schedule of Interest Expense

Interest on debt and debt-like instruments consisted of the following:



	Fiscal Year Ended March 31,
	2018		2017		2016
	(In thousands)
Term Loan A Interest Expense	$	37,575	$	28,646	$	21,790
Term Loan B Interest Expense	14,138		18,874		32,070
Interest on Revolving Credit Facility	271		751		363
Senior Notes Interest Expense	16,742		—		—
Deferred Payment Obligation Interest ¹	7,993		7,985		8,015
Amortization of Debt Issuance Costs (DIC) and Original Issue Discount (OID) ²	5,361		5,683		8,359
Other	189		359		218
Total Interest Expense	$	82,269	$	62,298	$	70,815

¹ Interest payments on the deferred payment obligation are made twice a year in January and July. See Note 10 to our consolidated financial statements.

Income Taxes (Tables)

12 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Summary of Components of Income Tax Expense

The components of income tax expense were as follows:



	Fiscal Year Ended March 31,
	2018			2017			2016
Current
U.S. Federal	$	89,300		$	115,727		$	57,376
State and local	20,074			24,273			20,480
Foreign	10,014			3,874			3,963
Total current	119,388			143,874			81,819
Deferred
U.S. Federal	15,157			18,451			8,664
State and local	(1,652		)	(2,915		)	(5,115		)
Foreign	—			—			—
Total deferred	13,505			15,536			3,549
Total	$	132,893		$	159,410		$	85,368

Schedule of Effective Income Tax Rate Reconciliation



	Fiscal Year Ended March 31,
	2018			2017			2016
Income tax expense computed at U.S. federal statutory rate ⁽¹⁾	$	138,181		$	144,165		$	132,812

Increases (reductions) resulting from:
Changes in uncertain tax positions	140			(92		)	(56,428		)
State and local income taxes, net of federal tax	14,565			13,882			10,092
Foreign income taxes, net of federal tax	6,855			2,518			2,576
Meals and entertainment	2,247			1,328			1,321
Re-measurement of deferred taxes related to the Act	(9,107		)	—			—
Excess tax benefits from stock-based compensation	(14,457		)	—			—
Federal tax credits	(6,563		)	(4,402		)	(4,286		)
Other	1,032			2,011			(719		)
Income tax expense from operations	$	132,893		$	159,410		$	85,368

(1) The U.S. federal statutory income tax rate for fiscal 2018 is a blended rate of 31.5% due to the 2017 Tax Act.

Schedule of Components of Deferred Tax Assets and Liabilities

The significant components of the Company’s deferred income tax assets and liabilities were as follows:



	March 31,
	2018			2017
Deferred income tax assets:
Accrued expenses	53,322			85,459
Accrued compensation	28,326			41,421
Stock-based compensation	7,785			15,326
Pension and postretirement benefits	34,449			48,672
Property and equipment	—			3,885
Net operating loss/Capital loss carryforwards	3,362			246
Deferred rent and tenant allowance	20,931			25,167
Extended disability benefits	5,963			8,860
State tax credits	9,822			4,829
Other	1,184			1,988
Total gross deferred income tax assets	165,144			235,853
Less: Valuation allowance	(1,373		)	—
Total net deferred income tax assets	163,771			235,853
Deferred income tax liabilities:
Unbilled receivables	(105,498		)	(141,357		)
Intangible assets	(57,020		)	(78,871		)
Debt issuance costs	(3,264		)	(4,709		)
Property and equipment	(398		)	—
Interest rate swaps	(2,076		)	—
Other	—			(91		)
Total deferred income tax liabilities	(168,256		)	(225,028		)
Net deferred income tax asset (liability)	$	(4,485	)	$	10,825

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of potential tax benefits for the periods presented is as follows:



	March 31,
	2018			2017			2016
Beginning of year	$	11,588		$	1,449		$	55,164
Increases in prior year position	41			127			79
Increases in current year position	—			10,278			—
Settlements with taxing authorities	—			—			(2,581		)
Lapse of statute of limitations	(21		)	(266		)	(51,213		)
End of year	$	11,608		$	11,588		$	1,449

Employee Benefit Plans (Tables)

12 Months Ended

Mar. 31, 2018

Retirement Benefits [Abstract]

Schedule of Components of Net Postretirement Medical Expense

The components of net postretirement medical expense for the Officer Medical Plan were as follows:



	Fiscal Year Ended March 31,
	2018		2017		2016
Service cost	$	4,464	$	4,851	$	5,702
Interest cost	5,008		4,782		4,505
Net actuarial loss	2,271		3,052		3,536
Total postretirement medical expense	$	11,743	$	12,685	$	13,743

Schedule of Weighted-average Discount Rate For Benefit Obligation

The weighted-average discount rate used to determine the year-end benefit obligations was as follows:



	Fiscal Year Ended March 31,
	2018		2017		2016
Officer Medical Plan	4.10	%	4.30	%	4.25	%
Retired Officers’ Bonus Plan	4.10	%	4.30	%	4.25	%
Retired Vice Presidents' Bonus Plan	4.10	%	4.30	%	—	%

Schedule of Assumed Health Care Cost Trend Rates

Assumed healthcare cost trend rates for the Officer Medical Plan at March 31, 2018 and 2017 were as follows:



Pre-65 initial rate	2018		2017
Healthcare cost trend rate assumed for next year	7.75	%	7.25	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.50	%	4.50	%
Year that the rate reaches the ultimate trend rate	2027		2024



Post-65 initial rate	2018		2017
Healthcare cost trend rate assumed for next year	8.00	%	8.50	%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.50	%	4.50	%
Year that the rate reaches the ultimate trend rate	2027		2024

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates

A one-percentage-point change in assumed healthcare cost trend rates calculated as of March 31, 2018 would have the following effects:



	1% Increase		1% Decrease
Effect on total of service and interest cost	$	2,049	$	(1,591	)
Effect on postretirement benefit obligation	21,514		(17,308		)

Schedule of Change in Benefit Obligation

The changes in the benefit obligation, plan assets, and funded status of the Officer Medical Plan were as follows:



	Fiscal Year Ended March 31,
	2018			2017			2016
Benefit obligation, beginning of the year	$	118,089		$	114,008		$	107,317
Service cost	4,464			4,851			5,702
Interest cost	5,008			4,782			4,505
Net actuarial (gain) loss	2,744			(2,219		)	(496		)
Benefits paid	(3,419		)	(3,333		)	(3,020		)
Benefit obligation, end of the year	$	126,886		$	118,089		$	114,008

Schedule of Change in Fair Value of Plan Assets



	Fiscal Year Ended March 31,
Changes in plan assets	2018			2017			2016
Fair value of plan assets, beginning of the year	$	—		$	—		$	—
Employer contributions	3,419			3,333			3,020
Benefits paid	(3,419		)	(3,333		)	(3,020		)
Fair value of plan assets, end of the year	$	—		$	—		$	—

Schedule of Expected Future Benefit Payments

The expected future medical benefit payments and related contributions are as follows:




For the Fiscal Year Ending March 31,
2019	$	3,585
2020	$	3,936
2021	$	4,271
2022	$	4,679
2023	$	5,588
2024 - 2028	$	34,503

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Mar. 31, 2018

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

The following table shows the changes in accumulated other comprehensive income (loss), net of tax:



	Fiscal Year Ended March 31, 2018
	Post-retirement plans			Derivatives designated as cash flow hedges		Totals
Beginning of year	$	(17,077	)	$	—	$	(17,077	)
Other comprehensive income (loss) before reclassifications (1)	(1,698		)	4,993		3,295
Amounts reclassified from accumulated other comprehensive loss	1,527			—		1,527
Net current-period other comprehensive income (loss)	(171		)	4,993		4,822
Reclassification of AOCI due to the Act (2)	(3,707		)	856		(2,851		)
End of year	$	(20,955	)	$	5,849	$	(15,106	)

(2) The amount reclassified from accumulated other comprehensive income to retained earnings from the adoption of ASU 2018-02 as discussed in Note 2.



	Fiscal Year Ended March 31, 2017
	Post-retirement plans			Derivatives designated as cash flow hedges		Totals
Beginning of year	$	(19,613	)	$	—	$	(19,613	)
Other comprehensive income (loss) before reclassifications	688			—		688
Amounts reclassified from accumulated other comprehensive loss	1,848			—		1,848
Net current-period other comprehensive income (loss)	2,536			—		2,536
End of year	$	(17,077	)	$	—	$	(17,077	)



	Fiscal Year Ended March 31, 2016
	Post-retirement plans			Derivatives designated as cash flow hedges		Totals
Beginning of year	$	(22,159	)	$	—	$	(22,159	)
Other comprehensive income (loss) before reclassifications	404			—		404
Amounts reclassified from accumulated other comprehensive loss	2,142			—		2,142
Net current-period other comprehensive income (loss)	2,546			—		2,546
End of year	$	(19,613	)	$	—	$	(19,613	)

Summary of Reclassifications Out of Accumulated Other Comprehensive Loss to Net Income

The following table presents the reclassifications out of accumulated other comprehensive loss to net income:



	March 31,
	2018			2017			2016
Amortization of net actuarial loss included in net periodic benefit cost (See Note 14)
Total before tax	$	2,387		$	3,050		$	3,536
Tax benefit	(860		)	(1,202		)	(1,394		)
Net of tax	$	1,527		$	1,848		$	2,142

Other Long-Term Liabilities (Tables)

12 Months Ended

Mar. 31, 2018

Other Liabilities Disclosure [Abstract]

Schedule of Other Long-Term Liabilities

Other long-term liabilities consisted of the following:



	March 31,
	2018		2017
Deferred rent	$	79,913	$	63,854
Postretirement benefit obligations	131,526		123,492
Other (1)	29,382		28,946
Total other long-term liabilities	$	240,821	$	216,292

Stockholders Equity (Tables)

12 Months Ended

Mar. 31, 2018

Equity [Abstract]

Summary of Dividends Declared

The following table summarizes the cash distributions recognized in the consolidated statement of cash flows:



	Fiscal Year Ended March 31,
	2018		2017		2016
Recurring dividends (1)	$	103,411	$	92,925	$	80,015
Dividend equivalents (2)	951		2,254		31,802
Total distributions	$	104,362	$	95,179	$	111,817

(1) Amounts represent recurring quarterly dividends that were declared and paid for during each quarter of fiscal 2018, 2017, and 2016.

(2) Dividend equivalents are distributions made to option holders equal to the special dividends declared and paid.

Stock-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Stock-based Compensation Expense Recognized in the Consolidated Statements of Operations

The following table summarizes stock-based compensation expense recognized in the consolidated statements of operations:



	Fiscal Year Ended March 31,
	2018		2017		2016
Cost of revenue	$	7,771	$	5,756	$	7,001
General and administrative expenses	15,547		15,493		17,991
Total	$	23,318	$	21,249	$	24,992

The following table summarizes the total stock-based compensation expense recognized in the consolidated statements of operations by the following types of equity awards:



	Fiscal Year Ended March 31,
	2018		2017		2016
Equity Incentive Plan Options	$	2,036	$	2,523	$	3,702
Restricted Stock Awards	21,282		18,726		21,290
Total	$	23,318	$	21,249	$	24,992

Schedule of Unrecognized Compensation Cost

Absent the effect of accelerating stock compensation cost for any departures of employees who may continue to vest in their equity awards, the following tables summarize the unrecognized compensation cost, the weighted average period the cost is expected to be amortized, and the estimated annual compensation cost for the future periods indicated below (excludes any future awards):



	Unrecognized Compensation Cost				Weighted Average Remaining Period to be Recognized
	March 31, 2018		March 31, 2017		March 31, 2018	March 31, 2017
Equity Incentive Plan Options	$	2,809	$	1,777	3.60	2.84
Restricted Stock Awards	14,512		11,007		1.87	1.75
Total	$	17,321	$	12,784



	Total Unrecognized Compensation Cost
	Total		2019		2020		2021		2022		2023
Equity Incentive Plan Options	$	2,809	$	1,417	$	812	$	404	$	176	$	—
Restricted Stock Awards	14,512		9,910		4,589		13		—		—
Total	$	17,321	$	11,327	$	5,401	$	417	$	176	$	—

Schedule of Black Scholes Weighted Average Assumptions

The weighted average assumptions used in the Black-Scholes option-pricing model for stock option awards were as follows:



	For The Fiscal Year Ended March 31,
	2018	2017	2016
Dividend yield	1.9%	1.94%	1.83%
Expected volatility	33.04%	29.65%	29.85%
Risk-free interest rate	1.81%	1.38%	1.33%
Expected life (in years)	5.00	5.00	5.08
Weighted-average grant date fair value	$9.35	$7.16	$6.67

Schedule of Unvested Restricted Stock Activity

The following table summarizes unvested restricted stock activity for the periods presented:



	Number of Shares	Weighted Average Grant Date Fair Value

Unvested Restricted Stock Awards
Unvested at March 31, 2017	1,277,508	25.71
Granted	845,085	34.70
Vested	1,007,214	26.46
Forfeited	158,273	28.66
Unvested at March 31, 2018	957,106	32.36

Summary of Stock Options Outstanding

The following table summarizes stock option activity for the periods presented:



	Number of Options	Weighted Average Exercise Price
Equity Incentive Plan Options
Options outstanding at March 31, 2017	3,824,237	$	13.99	*
Granted	393,010	35.89
Forfeited	108,369	23.17
Expired	47,835	22.70
Exercised	1,261,089	9.59
Options outstanding at March 31, 2018	2,799,954	$	18.55	*

* Reflects exercise price adjustment of $6.36 per grant for the $6.50 dividend per share issued July 30, 2012.

The following table summarizes unvested stock options for the periods presented:



	Number of Options	Weighted Average Grant Date Fair Value
Equity Incentive Plan Options
Unvested at March 31, 2017	812,561	$	5.61
Granted	393,010	9.35
Vested	459,335	5.95
Forfeited	108,369	5.59
Unvested at March 31, 2018	637,867	$	7.68

The following table summarizes stock options outstanding at March 31, 2018:



Range of exercise prices	Stock Options Outstanding	Weighted Average Exercise Price		Weighted Average Remaining Contractual Life	Intrinsic Value		Stock Options Exercisable	Weighted Average Exercise Price	Weighted Average Remaining Contractual Life	Intrinsic Value
				(In years)					(In years)
Equity Incentive Plan
$4.28 - $39.18	2,799,954	$18.55	(1)	4.99	$	56,477	2,162,087	$14.96	4.13	$51,372

(1) Reflects exercise price adjustment of $6.36 per grant for the $6.50 dividend per share issued July 30, 2012.

Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Summary of Fair Value Measurements

The financial instruments measured at fair value in the accompanying consolidated balance sheets consist of the following:



	Recurring Fair Value Measurements as of March 31, 2018
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents:
Cash and cash equivalents	$	51,870	$	—	$	—	$	51,870
Money market funds (1)	207,618		27,470		—		235,088
Total cash and cash equivalents	$	259,488	$	27,470	$	—	$	286,958
Other Assets:
Current derivative instruments (3)	$	—	$	700	$	—	$	700
Long-term derivative instruments (3)	—		7,225		—		7,225
Total Other Assets	$	—	$	7,925	$	—	$	7,925
Liabilities:
Contingent consideration liability (2)	$	—	$	—	$	3,576	$	3,576
Total liabilities	$	—	$	—	$	3,576	$	3,576



	Recurring Fair Value Measurements as of March 31, 2017
	Level 1		Level 2		Level 3		Total
Cash and cash equivalents:
Cash and cash equivalents	$	59,825	$	—	$	—	$	59,825
Money market funds (1)	—		157,592		—		157,592
Total cash and cash equivalents	$	59,825	$	157,592	$	—	$	217,417
Liabilities:
Contingent consideration liability (2)	—		—		$	3,576	3,576
Total liabilities	$	—	$	—	$	3,576	$	3,576

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Commitments and Contingencies (Tables)

12 Months Ended

Mar. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Schedule of Future Minimum Operating Lease Payments

Future minimum operating lease payments for noncancelable operating leases and future minimum income for noncancelable sublease rentals are summarized as follows:



For the Fiscal Year Ending March 31,	Operating Lease Payments		Operating Sublease Income
2019	$	71,013	$	276
2020	66,879		24
2021	56,153		—
2022	45,800		—
2023	41,773		—
Thereafter	141,889		—
	$	423,507	$	300

Unaudited Quarterly Financial Data (Tables)

12 Months Ended

Mar. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information



	2018 Quarters
	First		Second		Third		Fourth
Revenue	$	1,493,570	$	1,542,085	$	1,499,914	$	1,636,284
Operating income	139,464		126,486		118,087		136,048
Income before income taxes	121,478		106,091		98,013		112,422
Net income	79,540		70,913		69,773		84,885
Earnings per common share:
Basic (1)	$	0.53	$	0.48	$	0.48	$	0.59
Diluted (1)	$	0.53	$	0.47	$	0.47	$	0.58



	2017 Quarters
	First		Second		Third		Fourth
Revenue	$	1,422,722	$	1,394,853	$	1,404,638	$	1,582,071
Operating income	129,301		117,661		108,124		129,161
Income before income taxes	113,364		97,747		92,615		108,174
Net income	67,817		62,830		55,590		66,253
Earnings per common share:
Basic (1)	$	0.46	$	0.42	$	0.37	$	0.44
Diluted (1)	$	0.45	$	0.41	$	0.37	$	0.44

(1) Earnings per share are computed independently for each of the quarters presented and therefore may not sum to the total for the fiscal year.

Supplemental Financial Information (Tables)

12 Months Ended

Mar. 31, 2018

Valuation and Qualifying Accounts [Abstract]

Schedule of Valuation and Qualifying Accounts

The following schedule summarizes valuation and qualifying accounts for the periods presented:



	Fiscal Year Ended March 31,
	2018			2017			2016
Allowance for doubtful accounts:
Beginning balance	$	—		$	656		$	357
Provision for doubtful accounts	706			(135		)	352
Charges against allowance	(629		)	(521		)	(53		)
Ending balance	$	77		$	—		$	656
Tax valuation allowance
Beginning balance	—			—			—
Deductions and other adjustments	(1,373		)	—			—
Ending balance	$	(1,373	)	—			—

Business Overview (Details)	12 Months Ended
Business Overview (Details)	Mar. 31, 2018 employee segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments \| segment	1
Number of employees \| employee	24,600

Summary of Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Property, Plant and Equipment [Line Items]
Impairment of long-lived assets	$ 0	$ 0	$ 0
Furniture and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful life	5 years
Furniture and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life	10 years
Computer equipment
Property, Plant and Equipment [Line Items]
Useful life	4 years
Software \| Minimum
Property, Plant and Equipment [Line Items]
Useful life	3 years
Software \| Maximum
Property, Plant and Equipment [Line Items]
Useful life	5 years

Summary of Significant Accounting Policies - Intangible Assets and Goodwill (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Impairment charge on intangibles	$ 0	$ 3,800,000	$ 0
Goodwill impairment	$ 0	$ 0	$ 0
Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)	3 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)	12 years
Customer relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)	3 years
Customer relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)	12 years

Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Accounting Policies [Abstract]
Reclassification of AOCI due to the Act	$ 2,900,000
Tax Act change in tax rate, provisional income tax benefit	9,100,000	$ 9,100,000
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefits		14,457,000	$ 0	$ 0
Increase in accounts receivable	1,190,085,000	1,190,085,000	1,051,723,000
Increase in deferred tax liabilities	4,485,000	4,485,000	0
Increase in retained earnings	$ 682,653,000	682,653,000	478,102,000
Impairment charge on intangibles		0	3,800,000	0
Accounting Standards Update 2016-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess tax benefits		14,500,000
Pro Forma \| Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification of net periodic benefit costs		$ 7,300,000	$ 7,800,000
Restatement Adjustment \| Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase in accounts receivable				3,000,000
Increase in deferred tax liabilities				3,000,000
Increase in retained earnings				$ 3,000,000

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Earnings for basic computations									$ 303,224	$ 250,231	$ 290,542
Weighted-average common shares outstanding for basic computations									145,964,574	148,218,968	146,494,407
Earnings for diluted computations									$ 303,238	$ 250,249	$ 290,596
Dilutive stock options and restricted stock									1,785,448	2,055,672	3,224,730
Average number of common shares outstanding for diluted computations									147,750,022	150,274,640	149,719,137
Basic (in dollars per share)	$ 0.59	$ 0.48	$ 0.48	$ 0.53	$ 0.44	$ 0.37	$ 0.42	$ 0.46	$ 2.08	$ 1.69	$ 1.98
Diluted (in dollars per share)	$ 0.58	$ 0.47	$ 0.47	$ 0.53	$ 0.44	$ 0.37	$ 0.41	$ 0.45	$ 2.05	$ 1.67	$ 1.94
Payments of dividends									$ 103,411	$ 92,925	$ 80,015
Restricted Stock
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Unvested shares participating in the payment of the Company's dividends declared									800,000	1,300,000	1,800,000
Payments of dividends									$ 800	$ 900	$ 1,000
Undistributed earnings (loss) allocated to participating securities, basic									1,100	1,400	2,500
Undistributed earnings (loss) allocated to participating securities, diluted									$ 1,100	$ 1,400	$ 2,500
Stock Options
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Antidilutive options excluded from the computation of EPS									300,000	50,000	600,000
Class A Common Stock
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Weighted-average common shares outstanding for basic computations									145,964,574	148,218,968	146,494,407

Acquisitions - Narrative (Details) - USD ($) $ in Thousands	Jan. 24, 2017	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Business Acquisition [Line Items]
Income tax uncertainty		$ 11,787	$ 11,647	$ 1,500
Goodwill		1,581,146	$ 1,571,190
Aquilent
Business Acquisition [Line Items]
Total purchase consideration paid at closing	$ 253,600
Acquisition-related contingent consideration	3,600
Customer-relationship intangible assets	69,000
Tax indemnification liability	13,554
Income tax uncertainty	10,221	$ 10,200
Goodwill	199,826
Customer relationships \| Aquilent
Business Acquisition [Line Items]
Customer-relationship intangible assets	$ 69,000
Finite-lived intangible asset, useful life (in years)	12 years

Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017	Jan. 24, 2017	Mar. 31, 2016
Preliminary allocation:
Goodwill	$ 1,581,146	$ 1,571,190
Income tax uncertainty	(11,787)	$ (11,647)		$ (1,500)
Aquilent
Preliminary allocation:
Current assets			$ 15,809
Other tangible assets			1,144
Customer-relationship intangible assets			69,000
Goodwill			199,826
Current liabilities			(8,450)
Tax indemnification liability			(13,554)
Income tax uncertainty	$ (10,200)		(10,221)
Total purchase consideration transfer at closing			$ 253,554

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 1,581,146,000	$ 1,571,190,000
Impairment charge on intangibles	0	3,800,000	$ 0
Amortization of intangible assets	$ 16,900,000	$ 13,900,000	$ 12,100,000
Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)	3 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)	12 years
Customer relationships and other amortizable intangible assets \| Weighted Average
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)	9 years 3 months

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Finite-Lived Intangible Assets, Net [Abstract]
Accumulated Amortization	$ 45,036	$ 193,235
Total estimated amortization expense	70,772
Indefinite-Lived Intangible Assets (Excluding Goodwill) [Abstract]
Intangible assets, gross	306,008	465,115
Net Carrying Value	260,972	271,880
Trade name
Indefinite-Lived Intangible Assets (Excluding Goodwill) [Abstract]
Unamortizable intangible assets	190,200	190,200
Customer relationships and other amortizable intangible assets
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Value	115,808	274,915
Accumulated Amortization	45,036	193,235
Total estimated amortization expense	$ 70,772	$ 81,680

Goodwill and Intangible Assets - Schedule of Expected Amortization Expense (Details) $ in Thousands	Mar. 31, 2018 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2019	$ 15,723
2020	12,985
2021	10,166
2022	7,647
2023	6,557
Thereafter	17,694
Total estimated amortization expense	$ 70,772

Accounts Receivable, Net of Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Current assets:
Accounts receivable–billed	$ 395,136	$ 340,716
Allowance for doubtful accounts	(77)	0
Accounts receivable, net	1,130,452	991,810
Total accounts receivable, net	1,190,085	1,051,723
Provision for doubtful accounts	3,200	600	$ 1,100
Accounts Receivable
Current assets:
Accounts receivable–unbilled	735,393	651,094
Other long-term assets
Current assets:
Accounts receivable–unbilled	$ 59,633	$ 59,913

Property and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 504,874	$ 452,081
Accumulated depreciation and amortization	(334,978)	(312,914)
Property and equipment, net	169,896	139,167
Depreciation and amortization expense related to property and equipment	48,100	46,300	$ 50,100
Reduction to gross cost and accumulated depreciation for zero net book value assets	16,100	11,900
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	164,061	151,552
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	79,629	75,159
Software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	59,051	48,361
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	202,133	177,009
Internally developed software
Property, Plant and Equipment [Line Items]
Property and equipment, net	$ 15,600	$ 8,100

Accounts Payable and Other Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Payables and Accruals [Abstract]
Vendor payables	$ 339,993	$ 268,630
Accrued expenses	217,566	235,487
Total accounts payable and other accrued expenses	$ 557,559	$ 504,117

Accrued Compensation and Benefits (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Compensation Related Costs [Abstract]
Bonus	$ 87,817	$ 77,765
Retirement	35,743	31,879
Vacation	131,519	124,486
Other	27,671	29,686
Total accrued compensation and benefits	$ 282,750	$ 263,816

Deferred Payment Obligation - Narrative (Details) - USD ($)			12 Months Ended
	Dec. 11, 2009	Jul. 31, 2008	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Other Liabilities Disclosure [Abstract]
Deferred payment obligation, original amount		$ 158,000,000
Deferred payment obligation, term		8 years 6 months
Deferred payment obligation, payment pursuant of the Merger Agreement	$ 78,000,000	$ 78,000,000
Deferred payment obligation, payment	100,400,000
Deferred payment obligation, accrued interest payment	$ 22,400,000		$ 7,993,000	$ 7,985,000	$ 8,015,000
Deferred payment obligation:			80,000,000	80,000,000
Indemnified pre-acquisition uncertain tax positions			$ 0		$ 0
Interest rate per six-month period on unpaid deferred payment obligation			5.00%
Residual balance estimated to be paid			$ 81,311,000	$ 81,304,000

Deferred Payment Obligation - Reconciliation of Principal Balance of DPO to Recorded Amount (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Other Liabilities Disclosure [Abstract]
Deferred payment obligation:	$ 80,000	$ 80,000
Accrued interest	1,311	1,304
Amount recorded in the consolidated balance sheet	$ 81,311	$ 81,304

Debt - Schedule of Debt (Details) - USD ($)	Mar. 31, 2018	Mar. 06, 2018	Apr. 25, 2017	Mar. 31, 2017
Long-term Debt, Current and Noncurrent [Abstract]
Long-term debt outstanding	$ 1,839,275,000
Less: Unamortized debt issuance costs and discount on debt	(20,696,000)			$ (18,101,000)
Long-term debt	1,818,579,000			1,663,324,000
Less: Current portion of long-term debt	(63,100,000)			(193,150,000)
Long-term debt, net of current portion	1,755,479,000			$ 1,470,174,000
Term Loan A
Long-term Debt, Current and Noncurrent [Abstract]
Long-term debt outstanding	1,094,275,000
Term Loan B
Long-term Debt, Current and Noncurrent [Abstract]
Long-term debt outstanding	$ 395,000,000
Secured Debt \| Term Loan A
Long-term Debt, Current and Noncurrent [Abstract]
Interest rate on long term debt	3.88%			2.98%
Long-term debt outstanding	$ 1,094,275,000			$ 1,153,425,000
Secured Debt \| Term Loan B
Long-term Debt, Current and Noncurrent [Abstract]
Interest rate on long term debt	3.88%			3.08%
Long-term debt outstanding	$ 395,000,000	$ 395,000,000		$ 398,000,000
Revolving Credit Facility
Long-term Debt, Current and Noncurrent [Abstract]
Revolving credit facility	0			$ 130,000,000
Senior Notes
Long-term Debt, Current and Noncurrent [Abstract]
Long-term debt outstanding	$ 350,000,000
Senior Notes \| Senior Notes Due 2025
Long-term Debt, Current and Noncurrent [Abstract]
Interest rate on long term debt	5.13%			0.00%
Long-term debt outstanding	$ 350,000,000		$ 350,000,000	$ 0
Alternative Base Rate (ABR) \| Revolving Credit Facility
Long-term Debt, Current and Noncurrent [Abstract]
Interest Rate on credit facilities	0.00%			5.00%
Revolving credit facility	$ 0			$ 80,000,000
London Interbank Offered Rate (LIBOR) \| Revolving Credit Facility
Long-term Debt, Current and Noncurrent [Abstract]
Interest Rate on credit facilities	0.00%			2.98%
Revolving credit facility	$ 0			$ 50,000,000

Debt - Narrative (Details) - USD ($)			12 Months Ended
Debt - Narrative (Details) - USD ($)	Mar. 07, 2018	Mar. 06, 2018	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016	Apr. 25, 2017
Debt Instrument [Line Items]
Long-term debt outstanding			$ 1,839,275,000
Maximum expanded loan facility			$ 400,000,000
Maximum net secured leverage ratio			350.00%
Interest paid			$ 62,498,000	$ 49,062,000	$ 57,068,000
Overnight Federal Funds Rate
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			0.50%
London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			1.00%
Term Loan B
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate	2.00%	2.25%
Long-term debt outstanding			$ 395,000,000
Interest paid			$ 14,900,000	19,500,000
Term Loan B \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			2.00%
Term Loan B \| Alternative Base Rate (ABR)
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			1.00%
Term Loan A
Debt Instrument [Line Items]
Long-term debt outstanding			$ 1,094,275,000
Interest paid			$ 38,100,000	28,800,000
Term Loan A \| London Interbank Offered Rate (LIBOR) \| Minimum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			1.50%
Term Loan A \| London Interbank Offered Rate (LIBOR) \| Maximum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			2.25%
Term Loan A \| Alternative Base Rate (ABR) \| Minimum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			0.50%
Term Loan A \| Alternative Base Rate (ABR) \| Maximum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			1.25%
Revolving Credit Facility \| London Interbank Offered Rate (LIBOR) \| Minimum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			1.50%
Revolving Credit Facility \| London Interbank Offered Rate (LIBOR) \| Maximum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			2.25%
Revolving Credit Facility \| Alternative Base Rate (ABR) \| Minimum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			0.50%
Revolving Credit Facility \| Alternative Base Rate (ABR) \| Maximum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			1.25%
Secured Debt
Debt Instrument [Line Items]
Quarterly periodic payment percentage, principal			1.25%
Secured Debt \| Term Loan B
Debt Instrument [Line Items]
Long-term debt outstanding		$ 395,000,000	$ 395,000,000	398,000,000
Quarterly periodic payment percentage, principal			0.25%
Secured Debt \| Term Loan A
Debt Instrument [Line Items]
Long-term debt outstanding			$ 1,094,275,000	1,153,425,000
Quarterly periodic payment percentage, principal			1.25%
Secured Debt \| Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Commitment fee percentage			0.30%
Secured Debt \| Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Commitment fee percentage			0.40%
Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity				500,000,000.0
Proceeds from line of credit			$ 125,000,000	575,000,000
Revolving credit facility, amount outstanding			0	130,000,000
Revolving Credit Facility \| London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Revolving credit facility, amount outstanding			0	50,000,000
Revolving Credit Facility \| Alternative Base Rate (ABR)
Debt Instrument [Line Items]
Revolving credit facility, amount outstanding			0	80,000,000
Letter of Credit
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity				100,000,000.0
Senior Notes
Debt Instrument [Line Items]
Long-term debt outstanding			350,000,000
Senior Notes \| Senior Notes Due 2025
Debt Instrument [Line Items]
Long-term debt outstanding			350,000,000	$ 0		$ 350,000,000
Interest paid			$ 9,300,000
Stated interest rate						5.125%
Debt issuance costs						$ 6,700,000

Debt - Schedule of Future Debt Principal Repayments (Details) $ in Thousands	Mar. 31, 2018 USD ($)
Debt Instrument [Line Items]
Total	$ 1,839,275
2019	63,100
2020	63,100
2021	63,100
2022	920,775
2023	3,950
Thereafter	725,250
Term Loan A
Debt Instrument [Line Items]
Total	1,094,275
2019	59,150
2020	59,150
2021	59,150
2022	916,825
2023	0
Thereafter	0
Term Loan B
Debt Instrument [Line Items]
Total	395,000
2019	3,950
2020	3,950
2021	3,950
2022	3,950
2023	3,950
Thereafter	375,250
Senior Notes
Debt Instrument [Line Items]
Total	350,000
2019	0
2020	0
2021	0
2022	0
2023	0
Thereafter	$ 350,000

Debt - Schedule of Detail of Interest Expense (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 11, 2009	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Debt Instrument [Line Items]
Deferred Payment Obligation Interest	$ 22,400	$ 7,993	$ 7,985	$ 8,015
Amortization of Debt Issuance Costs (DIC) and Original Issue Discount (OID)		5,361	5,683	8,359
Other		189	359	218
Total Interest Expense		82,269	62,298	70,815
Secured Debt \| Term Loan A
Debt Instrument [Line Items]
Interest expense, debt		37,575	28,646	21,790
Secured Debt \| Term Loan B
Debt Instrument [Line Items]
Interest expense, debt		14,138	18,874	32,070
Revolving Credit Facility
Debt Instrument [Line Items]
Interest expense, debt		271	751	363
Senior Notes
Debt Instrument [Line Items]
Interest expense, debt		$ 16,742	$ 0	$ 0

Derivatives (Details)	12 Months Ended
Derivatives (Details)	Mar. 31, 2018 USD ($)
Other Current Assets
Derivative [Line Items]
Estimated fair value of derivative instruments	$ 700,000
Other Noncurrent Assets
Derivative [Line Items]
Estimated fair value of derivative instruments	7,200,000
Cash Flow Hedging \| Designated as Hedging Instrument \| Interest Rate Swap
Derivative [Line Items]
Notional amount of interest rate swap	450,000,000
Derivative instruments, gain recognized in AOCI	7,900,000
Ineffectiveness recognized in earnings	0
Estimated amounts to be reclassified over 12 months	$ 700,000

Income Taxes - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
Income Taxes - Narrative (Details) - USD ($)	Mar. 31, 2018	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Operating Loss Carryforwards [Line Items]
Federal statutory income tax rate		31.50%
Deferred tax assets, projected effective rate at which position will reverse	21.00%	21.00%
Deferred tax liabilities, projected effective rate at which position will reverse	21.00%	21.00%
Tax Act change in tax rate, provisional income tax benefit	$ 9,100,000	$ 9,100,000
Tax Act, provisional income tax benefit		23,300,000
Net operating loss, valuation allowance	1,400,000	1,400,000
Income tax reserves	11,787,000	11,787,000	$ 11,647,000	$ 1,500,000
Unrecognized tax benefits that would impact effective tax rate	11,600,000	11,600,000	1,400,000	1,400,000
Pre-acquisition uncertain tax positions				56,900,000
Accrued interest and penalties		100,000	(9,000)	(3,200,000)
Release of indemnified pre-acquisition uncertain tax positions				21,400,000
Indemnified pre-acquisition uncertain tax positions	0	0		0
Income tax reserve, accrued penalties and interest	200,000	200,000	100,000	100,000
Reconciliation of the beginning and ending amount of potential tax benefits
Beginning of year		11,588,000	1,449,000	55,164,000
Increases in prior year position		41,000	127,000	79,000
Increases in current year position		0	10,278,000	0
Settlements with taxing authorities		0	0	(2,581,000)
Lapse of statute of limitations		(21,000)	(266,000)	(51,213,000)
End of year	11,608,000	11,608,000	$ 11,588,000	$ 1,449,000
Domestic
Operating Loss Carryforwards [Line Items]
Net operating losses	2,600,000	2,600,000
Foreign
Operating Loss Carryforwards [Line Items]
Net operating losses	$ 800,000	800,000
Tax Years 2013-2015
Operating Loss Carryforwards [Line Items]
Income tax assessments		11,500,000
Tax Years 2016-2018
Operating Loss Carryforwards [Line Items]
Income tax assessments		$ 22,300,000

Income Taxes - Components of Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Current
U.S. Federal	$ 89,300	$ 115,727	$ 57,376
State and local	20,074	24,273	20,480
Foreign	10,014	3,874	3,963
Total current	119,388	143,874	81,819
Deferred
U.S. Federal	15,157	18,451	8,664
State and local	(1,652)	(2,915)	(5,115)
Foreign	0	0	0
Total deferred	13,505	15,536	3,549
Total	$ 132,893	$ 159,410	$ 85,368

Income Taxes - Reconciliation of Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income tax expense computed at U.S. federal statutory rate	$ 138,181	$ 144,165	$ 132,812
Changes in uncertain tax positions	140	(92)	(56,428)
State and local income taxes, net of federal tax	14,565	13,882	10,092
Foreign income taxes, net of federal tax	6,855	2,518	2,576
Meals and entertainment	2,247	1,328	1,321
Re-measurement of deferred taxes related to the Act	(9,107)	0	0
Excess tax benefits from stock-based compensation	(14,457)	0	0
Federal tax credits	(6,563)	(4,402)	(4,286)
Other	1,032	2,011	(719)
Total	$ 132,893	$ 159,410	$ 85,368
Federal statutory income tax rate	31.50%

Income Taxes - Components of Net Deferred Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Deferred income tax assets:
Accrued expenses	$ 53,322	$ 85,459
Accrued compensation	28,326	41,421
Stock-based compensation	7,785	15,326
Pension and postretirement benefits	34,449	48,672
Property and equipment	0	3,885
Net operating loss/Capital loss carryforwards	3,362	246
Deferred rent and tenant allowance	20,931	25,167
Extended disability benefits	5,963	8,860
State tax credits	9,822	4,829
Other	1,184	1,988
Total gross deferred income tax assets	165,144	235,853
Less: Valuation allowance	(1,373)	0
Total net deferred income tax assets	163,771	235,853
Deferred income tax liabilities:
Unbilled receivables	(105,498)	(141,357)
Intangible assets	(57,020)	(78,871)
Debt issuance costs	(3,264)	(4,709)
Property and equipment	(398)	0
Interest rate swaps	(2,076)	0
Other	0	(91)
Total deferred income tax liabilities	(168,256)	(225,028)
Net deferred income tax liabilities	$ (4,485)
Net deferred income tax asset		$ 10,825

Employee Benefit Plans - Narrative (Details) - USD ($)	12 Months Ended
Employee Benefit Plans - Narrative (Details) - USD ($)	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Retirement Benefits [Abstract]
Employer matching contribution, percentage of match	6.00%
Employees’ Capital Accumulation Plan, Total expense recognized	$ 126,900,000	$ 116,600,000	$ 108,700,000
Employees’ Capital Accumulation Plan, Company-paid contributions	123,900,000	114,800,000	$ 107,500,000
Defined Benefit Plan Disclosure [Line Items]
Long-term disability obligation	22,800,000	$ 22,500,000
Retired Officers' Bonus Plan
Defined Benefit Plan Disclosure [Line Items]
Deferred compensation arrangement with individual, annual cash award granted per year of service, amount	$ 10,000

Employee Benefit Plans - Components of Net Postretirement Medical Expense (Details) - Other Postretirement Benefits Plan - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 4,464	$ 4,851	$ 5,702
Interest cost	5,008	4,782	4,505
Officer Medical Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	4,464	4,851	5,702
Interest cost	5,008	4,782	4,505
Net actuarial loss	2,271	3,052	3,536
Total postretirement medical expense	$ 11,743	$ 12,685	$ 13,743

Employee Benefit Plans - Weighted Average Discount Rate (Details) - Other Postretirement Benefits Plan	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Officer Medical Plan
Defined Benefit Plan Disclosure [Line Items]
Weighted-average discount rate for benefit obligation	4.10%	4.30%	4.25%
Retired Officers' Bonus Plan
Defined Benefit Plan Disclosure [Line Items]
Weighted-average discount rate for benefit obligation	4.10%	4.30%	4.25%
Retired Vice Presidents' Bonus Plan
Defined Benefit Plan Disclosure [Line Items]
Weighted-average discount rate for benefit obligation	4.10%	4.30%	0.00%

Employee Benefit Plans - Healthcare Cost Trend Rates (Details) - Other Postretirement Benefits Plan - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Officer Medical Plan
Defined Benefit Plan Disclosure [Line Items]
Health care cost trend rate assumed for next year, Pre 65	7.75%	7.25%
Health care cost trend rate assumed for next year, Post 65	8.00%	8.50%
Effect of one percentage point increase on total of service and interest cost	$ 2,049
Effect of one percentage point decrease on total of service and interest cost	$ (1,591)
Retired Officers' Bonus Plan
Defined Benefit Plan Disclosure [Line Items]
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate), Pre 65	4.50%	4.50%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate), Post 65	4.50%	4.50%
Effect of one percentage point increase on postretirement benefit obligation	$ 21,514
Effect of one percentage point decrease on postretirement benefit obligation	$ (17,308)
Retired Vice Presidents' Bonus Plan
Defined Benefit Plan Disclosure [Line Items]
Year that the rate reaches the ultimate trend rate, Pre 65	2027	2024
Year that the rate reaches the ultimate trend rate, Post 65	2027	2024

Employee Benefit Plans - Retired Officers' Bonus Plan and Retired VP Bonus Plan (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Other Postretirement Benefits Plan
Defined Benefit Plan Disclosure [Line Items]
Benefits paid	$ 3,419,000	$ 3,333,000	$ 3,020,000
Benefit obligation	126,886,000	118,089,000	114,008,000	$ 107,317,000
Fair value of plan assets	0	0	0	$ 0
Other Postretirement Benefits Plan \| Officer
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, funded (unfunded) status of plan	3,800,000	4,400,000
Retired Officers' Bonus Plan \| Other Postretirement Benefits Plan \| Officer
Defined Benefit Plan Disclosure [Line Items]
Retired Officers' Bonus Plan, total pension expense	700,000	700,000	700,000
Benefits paid	1,500,000	900,000	$ 300,000
Retired Vice Presidents' Bonus Plan
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation	900,000	1,000,000
Retired Vice Presidents' Bonus Plan \| Other Postretirement Benefits Plan \| Officer
Defined Benefit Plan Disclosure [Line Items]
Retired Officers' Bonus Plan, total pension expense	200,000	0
Benefits paid	$ 0	$ 0

Employee Benefit Plans - Accumulated Other Comprehensive Income (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Retirement Benefits [Abstract]
Unrecognized gross actuarial gain	$ 2,700,000	$ 1,100,000
Unrecognized actuarial gain, tax	1,000,000	$ 400,000
Amount to be amortized from accumulated other comprehensive income (loss) next fiscal year	(2,100,000)
Net prior service cost, accumulated other comprehensive income net periodic cost in fiscal 2016	100,000
Net transition (asset) obligation, accumulated other comprehensive income net periodic cost in fiscal 2016	$ 0

Employee Benefit Plans - Change in Benefit Obligation and Change in Plan Assets (Details) - Other Postretirement Benefits Plan - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation, beginning of the year	$ 118,089,000	$ 114,008,000	$ 107,317,000
Service cost	4,464,000	4,851,000	5,702,000
Interest cost	5,008,000	4,782,000	4,505,000
Net actuarial (gain) loss	2,744,000	(2,219,000)	(496,000)
Benefits paid	(3,419,000)	(3,333,000)	(3,020,000)
Benefit obligation, end of the year	126,886,000	118,089,000	114,008,000
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, beginning of the year	0	0	0
Employer contributions	3,419,000	3,333,000	3,020,000
Benefits paid	(3,419,000)	(3,333,000)	(3,020,000)
Fair value of plan assets, end of the year	0	0	0
Officer Medical Plan
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Service cost	4,464,000	4,851,000	5,702,000
Interest cost	5,008,000	4,782,000	$ 4,505,000
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Defined benefit plan, funded (unfunded) status of plan	(126,900,000)	(118,100,000)
Retired Officers' Bonus Plan and Retired Vice-President Bonus Plan
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets, beginning of the year	0
Fair value of plan assets, end of the year	0	0
Defined benefit plan, funded (unfunded) status of plan	$ (4,700,000)	$ (5,400,000)

Employee Benefit Plans - Future Benefit Payments (Details) $ in Thousands	Mar. 31, 2018 USD ($)
Retirement Benefits [Abstract]
2019	$ 3,585
2020	3,936
2021	4,271
2022	4,679
2023	5,588
2024 - 2028	$ 34,503

Accumulated Other Comprehensive Loss - Schedule of Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning of year		$ 573,591	$ 408,488	$ 186,498
Reclassification of AOCI due to the Act	$ 2,900
End of year	554,628	554,628	573,591	408,488
Tax expense	2,900
Post-retirement plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning of year		(17,077)	(19,613)	(22,159)
Other comprehensive income (loss) before reclassifications		(1,698)	688	404
Amounts reclassified from accumulated other comprehensive loss		1,527	1,848	2,142
Total other comprehensive (loss) income, net of tax		(171)	2,536	2,546
Reclassification of AOCI due to the Act		(3,707)
End of year	(20,955)	(20,955)	(17,077)	(19,613)
Derivatives designated as cash flow hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning of year		0	0	0
Other comprehensive income (loss) before reclassifications		4,993	0	0
Amounts reclassified from accumulated other comprehensive loss		0	0	0
Total other comprehensive (loss) income, net of tax		4,993	0	0
Reclassification of AOCI due to the Act		856
End of year	5,849	5,849	0	0
Totals
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning of year		(17,077)	(19,613)	(22,159)
Other comprehensive income (loss) before reclassifications		3,295	688	404
Amounts reclassified from accumulated other comprehensive loss		1,527	1,848	2,142
Total other comprehensive (loss) income, net of tax		4,822	2,536	2,546
Reclassification of AOCI due to the Act		(2,851)
End of year	$ (15,106)	$ (15,106)	$ (17,077)	$ (19,613)

Accumulated Other Comprehensive Loss - Schedule of Reclassifications out of Accumulated Other Comprehensive Loss to Net Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	$ 112,422	$ 98,013	$ 106,091	$ 121,478	$ 108,174	$ 92,615	$ 97,747	$ 113,364	$ 438,004	$ 411,900	$ 379,462
Tax benefit									132,893	159,410	85,368
Net income	$ 84,885	$ 69,773	$ 70,913	$ 79,540	$ 66,253	$ 55,590	$ 62,830	$ 67,817	305,111	252,490	294,094
Reclassification out of Accumulated Other Comprehensive Income \| Amortization of net actuarial loss
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Total before tax									2,387	3,050	3,536
Tax benefit									860	1,202	1,394
Net income									$ 1,527	$ 1,848	$ 2,142

Other Long-Term Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017	Jan. 24, 2017
Other Liabilities Disclosure [Abstract]
Deferred rent	$ 79,913	$ 63,854
Postretirement benefit obligations	131,526	123,492
Other	29,382	28,946
Total other long-term liabilities	240,821	216,292
Business Acquisition [Line Items]
Long-term disability obligation	$ 22,800	$ 22,500
Aquilent
Business Acquisition [Line Items]
Acquisition-related contingent consideration			$ 3,600

Stockholders' Equity - Narrative (Details)			1 Months Ended	12 Months Ended			89 Months Ended
Stockholders' Equity - Narrative (Details)	Mar. 31, 2018 USD ($) shares	Jun. 30, 2017 shares	Nov. 30, 2010 shares	Mar. 31, 2018 USD ($) vote shares	Mar. 31, 2017 USD ($) shares	Mar. 31, 2016 USD ($)	Mar. 31, 2018 USD ($) shares	Nov. 02, 2017 USD ($)	Jan. 25, 2017 USD ($)	Jan. 27, 2015 USD ($)	Dec. 12, 2011 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock votes per share \| vote				1
Share repurchase program, amount authorized								$ 610,000,000.0	$ 410,000,000.0	$ 180,000,000.0	$ 30,000,000.0
Repurchase of common stock (in shares) \| shares	190,295	140,534		7,200,000	1,300,000
Repurchase of common stock				$ 269,557,000	$ 56,455,000	$ 63,152,000
Share repurchase program, remaining authorized repurchase amount	$ 197,900,000			$ 197,900,000			$ 197,900,000
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock purchased by employees (in shares) \| shares				254,380			2,189,287
Repurchase of common stock				$ 257,600,000	$ 46,400,000
Employee Stock Purchase Plan \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee stock purchase plan, aggregate shares \| shares			10,000,000
Employee stock purchase plan, purchase price discount from the fair market value			5.00%

Stockholders' Equity - Summary of Dividends (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends	$ 104,362	$ 95,179	$ 111,817
Recurring dividends
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends	103,411	92,925	80,015
Dividend equivalents
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends	$ 951	$ 2,254	$ 31,802

Stock-Based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 23,318	$ 21,249	$ 24,992
EIP \| Stock Options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	2,036	2,523	3,702
Annual Incentive Plan \| Restricted Stock \| Class A Common Stock
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	21,282	18,726	21,290
Cost of revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	7,771	5,756	7,001
General and administrative expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 15,547	$ 15,493	$ 17,991

Stock-Based Compensation - Summary of Unrecognized Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to unvested stock-based compensation agreements	$ 17,321	$ 12,784
Unrecognized compensation cost, amortization period	4 years
Total	$ 17,321	12,784
2019	11,327
2020	5,401
2021	417
2022	176
2023	0
EIP \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to unvested stock-based compensation agreements	$ 2,809	$ 1,777
Unrecognized compensation cost, amortization period	3 years 7 months 6 days	2 years 10 months 2 days
Total	$ 2,809	$ 1,777
2019	1,417
2020	812
2021	404
2022	176
2023	0
Annual Incentive Plan \| Restricted Stock \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to unvested stock-based compensation agreements	$ 14,512	$ 11,007
Unrecognized compensation cost, amortization period	1 year 10 months 13 days	1 year 9 months
Total	$ 14,512	$ 11,007
2019	9,910
2020	4,589
2021	13
2022	0
2023	$ 0

Stock-Based Compensation - Summary of Stock Plans (Details) - USD ($) $ / shares in Units, $ in Thousands								12 Months Ended
	Mar. 31, 2018	Jan. 31, 2018	Aug. 02, 2017	Jun. 30, 2017	May 19, 2017	May 17, 2017	Oct. 01, 2010	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option vesting period								5 years
Repurchase of common stock (in shares)	190,295			140,534				7,200,000	1,300,000
Repurchase of common stock								$ 269,557	$ 56,455	$ 63,152
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common stock								$ 257,600	$ 46,400
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted, weighted average grant date fair value (in dollars per share)								$ 9.35	$ 7.16	$ 6.67
EIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)		17,274	5,631		158,283	211,822
Stock options granted, weighted average grant date fair value (in dollars per share)		$ 8.68	$ 8.88		$ 9.48	$ 9.32
Stock options granted, fair value		$ 100	$ 50		$ 1,500	$ 2,000
Restricted stock granted (in shares)								845,085
Repurchase of common stock								$ 11,900
EIP \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option expiration period								10 years
Stock options granted (in shares)								393,010
Stock options granted, weighted average grant date fair value (in dollars per share)								$ 9.35
Stock options granted, fair value								$ 3,700	$ 400
Fair value of options vested								2,700	11,800
Intrinsic value of options exercised								$ 36,700	$ 49,000
Options available for future grant (in shares)	11,433,883							11,433,883	12,026,970
EIP \| Restricted Stock \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate fair value of all awards issued								$ 26,700	$ 30,200
EIP \| Restricted Stock Units (RSUs) \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option vesting period								3 years
Restricted stock granted (in shares)								786,350
Aggregate fair value of all awards issued								$ 29,300
Annual Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option vesting period							3 years
Annual Incentive Payment, equity portion, increase percentage							20.00%
Officer \| Annual Incentive Plan \| Restricted Stock \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option vesting period								3 years
Director \| EIP \| Restricted Stock \| Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option vesting period								1 year
Restricted stock granted (in shares)								58,735
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date share price (in dollars per share)	$ 32.55							$ 32.55
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date share price (in dollars per share)	$ 39.18							$ 39.18

Stock-Based Compensation - Stock Option Assumptions (Details) - $ / shares	3 Months Ended				12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield					1.90%	1.94%	1.83%
Expected volatility					33.04%	29.65%	29.85%
Risk-free interest rate					1.81%	1.38%	1.33%
Expected life (in years)					5 years	5 years	5 years 29 days
Weighted-average grant date fair value (in dollars per share)					$ 9.35	$ 7.16	$ 6.67
Stock Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield					1.89%
Stock Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield					2.00%
Ordinary Dividend
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends declared per share (in dollars per share)	$ 0.19	$ 0.17	$ 0.17	$ 0.17

Stock-Based Compensation - Special Dividends (Details) - USD ($) $ in Thousands			12 Months Ended
	Mar. 31, 2018	Jun. 30, 2017	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash payment for special dividends			$ 951	$ 2,254	$ 31,802
Stock Options \| Special Cash Dividend \| EIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash payment for special dividends	$ 60	$ 900
Share-based compensation arrangement, plan modification, incremental compensation cost recognized in period			$ 30

Stock-Based Compensation - Stock Option and Restricted Stock Award Activity (Details) - USD ($) $ / shares in Units, $ in Thousands						12 Months Ended
	Jan. 31, 2018	Aug. 02, 2017	May 19, 2017	May 17, 2017	Jul. 30, 2012	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2018
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Granted, weighted average grant date fair value (in dollars per share)						$ 9.35	$ 7.16	$ 6.67
EIP
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Unvested, beginning balance (in shares)						1,277,508
Granted (in shares)						845,085
Vested (in shares)						1,007,214
Forfeited (in shares)						158,273
Unvested, ending balance (in shares)						957,106	1,277,508
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested, beginning balance, weighted average grant date fair value (in dollars per share)						$ 25.71
Granted, weighted average grant date fair value (in dollars per share)						34.70
Vested, weighted average grant date fair value (in dollars per share)						26.46
Forfeited, weighted average grant date fair value (in dollars per share)						28.66
Unvested, beginning balance, weighted average grant date fair value (in dollars per share)						$ 32.36	$ 25.71
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Granted (in shares)	17,274	5,631	158,283	211,822
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest [Abstract]
Granted (in shares)	17,274	5,631	158,283	211,822
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Granted, weighted average grant date fair value (in dollars per share)	$ 8.68	$ 8.88	$ 9.48	$ 9.32
EIP \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares)						3,824,237
Granted (in shares)						393,010
Forfeited (in shares)						108,369
Expired (in shares)						47,835
Exercised (in shares)						1,261,089
Outstanding, ending balance (in shares)						2,799,954	3,824,237
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Outstanding, beginning balance, weighted average exercise price (in dollars per share)						$ 13.99
Granted, weighted average exercise price (in dollars per share)						35.89
Forfeited, weighted average exercise price (in dollars per share)						23.17
Expired, weighted average exercise price (in dollars per share)						22.70
Exercised, weighted average exercise price (in dollars per share)						9.59
Outstanding, ending balance, weighted average exercise price (in dollars per share)						$ 18.55	$ 13.99
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest [Abstract]
Unvested, beginning balance (in shares)						812,561
Granted (in shares)						393,010
Vested (in shares)						459,335
Forfeited (in shares)						108,369
Unvested, ending balance (in shares)						637,867	812,561
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Unvested, beginning balance, weighted average grant date fair value (in dollars per share)						$ 5.61
Granted, weighted average grant date fair value (in dollars per share)						9.35
Vested, weighted average grant date fair value (in dollars per share)						5.95
Forfeited, weighted average grant date fair value (in dollars per share)						5.59
Unvested, ending balance, weighted average grant date fair value (in dollars per share)						$ 7.68	$ 5.61
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Stock Options Outstanding (in shares)						3,824,237	3,824,237		2,799,954
Outstanding, Weighted Average Exercise Price (in dollars per share)						$ 13.99	$ 13.99		$ 18.55
Outstanding, Weighted Average Remaining Contractual Life (in years)						4 years 11 months 27 days
Outstanding, Intrinsic Value									$ 56,477
Stock Options Exercisable (in shares)									2,162,087
Stock Options Exercisable, Weighted Average Exercise Price (in dollars per share)									$ 14.96
Stock Options Exercisable, Weighted Average Remaining Contractual Life (in years)						4 years 1 month 17 days
Stock Options Exercisable, Intrinsic Value									$ 51,372
Special Cash Dividend
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Dividends declared per share (in dollars per share)					$ 6.50
Special Cash Dividend \| EIP \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Dividend, option exercise price reduction, per share (in dollars per share)					$ 6.36
Stock Options \| EIP
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Exercise price, lower range limit (in dollars per share)						$ 4.28
Exercise price, upper range limit (in dollars per share)						$ 39.18

Fair Value Measurements - Schedule of Recurring Fair Value Measurements (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds, net asset value per share (in dollars per share)	$ 1.00
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	$ 286,958	$ 217,417
Current derivative instruments	700
Long-term derivative instruments	7,225
Total other assets	7,925
Total liabilities	3,576	3,576
Fair Value, Measurements, Recurring \| Contingent Consideration Liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	3,576	3,576
Fair Value, Measurements, Recurring \| Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	51,870	59,825
Fair Value, Measurements, Recurring \| Money market fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	235,088	157,592
Fair Value, Measurements, Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	259,488	59,825
Current derivative instruments	0
Long-term derivative instruments	0
Total other assets	0
Total liabilities	0	0
Fair Value, Measurements, Recurring \| Level 1 \| Contingent Consideration Liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	0	0
Fair Value, Measurements, Recurring \| Level 1 \| Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	51,870	59,825
Fair Value, Measurements, Recurring \| Level 1 \| Money market fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	207,618	0
Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	27,470	157,592
Current derivative instruments	700
Long-term derivative instruments	7,225
Total other assets	7,925
Total liabilities	0	0
Fair Value, Measurements, Recurring \| Level 2 \| Contingent Consideration Liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	0	0
Fair Value, Measurements, Recurring \| Level 2 \| Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	0	0
Fair Value, Measurements, Recurring \| Level 2 \| Money market fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	27,470	157,592
Fair Value, Measurements, Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	0	0
Current derivative instruments	0
Long-term derivative instruments	0
Total other assets	0
Total liabilities	3,576	3,576
Fair Value, Measurements, Recurring \| Level 3 \| Contingent Consideration Liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total liabilities	3,576	3,576
Fair Value, Measurements, Recurring \| Level 3 \| Liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability	3,600	3,600
Fair Value, Measurements, Recurring \| Level 3 \| Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	0	0
Fair Value, Measurements, Recurring \| Level 3 \| Money market fund
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total cash and cash equivalents	$ 0	$ 0

Related-Party Transactions (Details) - Affiliated Entity - Pledge Obligation - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Related Party Transaction [Line Items]
Amount of pledge		$ 5.0
Amount of related party transaction	$ 1.7

Commitments and Contingencies - Leases and Guarantees (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Rent expense, net	$ 81,200	$ 81,600	$ 88,500
Rent expense, sublease rentals	600	$ 500	$ 500
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2019	71,013
2020	66,879
2021	56,153
2022	45,800
2023	41,773
Thereafter	141,889
Operating leases, future minimum payments due	423,507
Operating Leases, Future Minimum Payments Due, Sublease Rentals, Fiscal Year Maturity [Abstract]
2019	276
2020	24
2021	0
2022	0
2023	0
Thereafter	0
Operating leases, future minimum payments due, future minimum sublease rentals	$ 300
Contracts with U.S. government agencies or other U.S. government contractors
Concentration Risk [Line Items]
Concentration risk, percentage	97.00%	97.00%	97.00%
Unfavorable Regulatory Action
Loss Contingencies [Line Items]
Liability for reductions and/or penalties from U.S Government audits	$ 168,600	$ 175,700
Financial Standby Letter of Credit
Concentration Risk [Line Items]
Guarantor obligations, carrying value	6,300	8,600
Guarantor obligations, reduction to available borrowings	1,400	1,700
Guarantor obligations, facility				$ 15,000
Guarantor obligations, available amount	$ 10,100	$ 3,100

Commitments and Contingencies - Litigation (Details) - Former stockholder litigation			17 Months Ended	84 Months Ended
	Jan. 09, 2017 claim	Apr. 16, 2015 claim	Dec. 15, 2009 claim plaintiff	Mar. 31, 2017 claim	Sep. 24, 2014 claim	Sep. 07, 2010 claim	Jul. 02, 2010 claim
Loss Contingencies [Line Items]
Loss contingencies, number of plaintiffs \| plaintiff			6
Loss contingencies, new claims filed, number			9
Loss contingencies, claims amended, number					2		3
Loss contingencies, pending claims, number					1	1
Loss contingencies, claims dismissed, number				3
Loss contingencies, claims settled, number		1
United States Court of Appeals for the Ninth Circuit
Loss Contingencies [Line Items]
Loss contingencies, claims dismissed, number	1
United States District Court for the Southern District of New York
Loss Contingencies [Line Items]
Loss contingencies, pending claims, number						3

Business Segment Information (Details)	12 Months Ended
Business Segment Information (Details)	Mar. 31, 2018 segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

Unaudited Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 1,636,284	$ 1,499,914	$ 1,542,085	$ 1,493,570	$ 1,582,071	$ 1,404,638	$ 1,394,853	$ 1,422,722	$ 6,171,853	$ 5,804,284	$ 5,405,738
Operating income	136,048	118,087	126,486	139,464	129,161	108,124	117,661	129,301	520,085	484,247	444,584
Income before income taxes	112,422	98,013	106,091	121,478	108,174	92,615	97,747	113,364	438,004	411,900	379,462
Net income	$ 84,885	$ 69,773	$ 70,913	$ 79,540	$ 66,253	$ 55,590	$ 62,830	$ 67,817	$ 305,111	$ 252,490	$ 294,094
Earnings per common share:
Basic (in dollars per share)	$ 0.59	$ 0.48	$ 0.48	$ 0.53	$ 0.44	$ 0.37	$ 0.42	$ 0.46	$ 2.08	$ 1.69	$ 1.98
Diluted (in dollars per share)	$ 0.58	$ 0.47	$ 0.47	$ 0.53	$ 0.44	$ 0.37	$ 0.41	$ 0.45	$ 2.05	$ 1.67	$ 1.94

Supplemental Financial Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Allowance for doubtful accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance	$ 0	$ 656	$ 357
Provision for doubtful accounts	706	(135)	352
Charges against allowance	(629)	(521)	(53)
Ending balance	77	0	656
Tax valuation allowance
Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance	0	0	0
Charges against allowance	(1,373)	0	0
Ending balance	$ 1,373	$ 0	$ 0

Subsequent Events (Details) - USD ($)			2 Months Ended	12 Months Ended
Subsequent Events (Details) - USD ($)	Mar. 31, 2018	Jun. 30, 2017	May 29, 2018	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016	May 24, 2018	May 23, 2018	Nov. 02, 2017	Jan. 25, 2017	Jan. 27, 2015	Dec. 12, 2011
Subsequent Event [Line Items]
Repurchase of common stock				$ 269,557,000	$ 56,455,000	$ 63,152,000
Stock repurchased (in shares)	190,295	140,534		7,200,000	1,300,000
Share repurchase program, amount authorized									$ 610,000,000.0	$ 410,000,000.0	$ 180,000,000.0	$ 30,000,000.0
Share repurchase program, remaining authorized repurchase amount	$ 197,900,000			$ 197,900,000
Subsequent Event
Subsequent Event [Line Items]
Repurchase of common stock			$ 1,800,000
Stock repurchased, restricted stock awards, value withheld for taxes			$ 7,300,000
Stock repurchased (in shares)			46,300
Stock repurchased, restricted stock withheld for taxes (in shares)			190,295
Dividends payable, amount (in dollars per share)			$ 0.19
Share repurchase program, amount authorized							$ 910,000,000.0	$ 610,000,000.0
Share repurchase program, remaining authorized repurchase amount							$ 493,700,000