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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Mar. 31, 2019	May 22, 2019	Sep. 28, 2018
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, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
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 Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 6,933,296,946
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		140,030,725
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, 2019	Mar. 31, 2018
Current assets:
Cash and cash equivalents	$ 283,990	$ 286,958
Accounts receivable, net of allowance	1,330,364	1,133,705
Prepaid expenses and other current assets	84,986	71,309
Total current assets	1,699,340	1,491,972
Property and equipment, net of accumulated depreciation	172,453	152,364
Intangible assets, net of accumulated amortization	287,051	278,504
Goodwill	1,581,160	1,581,146
Other long-term assets	91,837	102,633
Total assets	3,831,841	3,606,619
Current liabilities:
Current portion of long-term debt	57,924	63,100
Accounts payable and other accrued expenses	664,948	557,559
Accrued compensation and benefits	325,553	282,750
Other current liabilities	130,814	125,358
Total current liabilities	1,179,239	1,028,767
Long-term debt, net of current portion	1,701,837	1,755,479
Income tax reserves	11,509	11,787
Deferred tax liabilities	33,238	7,274
Other long-term liabilities	230,652	240,821
Total liabilities	3,156,475	3,044,128
Commitments and contingencies (Note 22)
Stockholders’ equity:
Common stock, Class A — $0.01 par value — authorized, 600,000,000 shares; issued, 159,924,825 shares at March 31, 2019 and 158,028,673 shares at March 31, 2018; outstanding, 140,027,853 shares at March 31, 2019 and 143,446,539 shares at March 31, 2018	1,599	1,580
Treasury stock, at cost — 19,896,972 shares at March 31, 2019 and 14,582,134 shares at March 31, 2018	(711,450)	(461,457)
Additional paid-in capital	401,596	346,958
Retained earnings	994,811	690,516
Accumulated other comprehensive loss	(11,190)	(15,106)
Total stockholders’ equity	675,366	562,491
Total liabilities and stockholders’ equity	$ 3,831,841	$ 3,606,619

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Mar. 31, 2018
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	159,924,825	158,028,673
Common stock, shares outstanding	140,027,853	143,446,539
Treasury stock, shares	19,896,972	14,582,134

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Revenue	$ 6,704,037	$ 6,167,600	$ 5,809,491
Operating costs and expenses:
Cost of revenue	3,100,466	2,866,268	2,678,715
Billable expenses	2,004,664	1,861,312	1,751,077
General and administrative expenses	927,938	855,541	814,141
Depreciation and amortization	68,575	64,756	59,544
Total operating costs and expenses	6,101,643	5,647,877	5,303,477
Operating income	602,394	519,723	506,014
Interest expense	(89,517)	(82,269)	(62,298)
Other income (expense), net	2,526	(7,418)	(18,059)
Income before income taxes	515,403	430,036	425,657
Income tax expense	96,874	128,344	164,832
Net income	$ 418,529	$ 301,692	$ 260,825
Earnings per common share (Note 3):
Basic (in dollars per share)	$ 2.94	$ 2.05	$ 1.74
Diluted (in dollars per share)	$ 2.91	$ 2.03	$ 1.72

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 418,529	$ 301,692	$ 260,825
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Change in unrealized gain (loss) on derivatives designated as cash flow hedges	(7,971)
Change in unrealized gain (loss) on derivatives designated as cash flow hedges		4,993	0
Change in postretirement plan costs	11,887	(171)	2,536
Total other comprehensive (loss) income, net of tax	3,916	4,822	2,536
Comprehensive income	$ 422,445	$ 306,514	$ 263,361

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities
Net income	$ 418,529	$ 301,692	$ 260,825
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	68,575	64,756	59,544
Stock-based compensation expense	31,275	23,318	21,249
Deferred income taxes	23,006	8,956	20,958
Excess tax benefits from stock-based compensation	(10,777)	(14,457)	(18,175)
Amortization of debt issuance costs and loss on extinguishment	9,354	5,974	15,566
Losses (gains) on dispositions and impairments	(5,464)	(246)	4,673
Changes in assets and liabilities:
Accounts receivable, net of allowance	(196,453)	(126,196)	(95,217)
Income taxes receivable / payable	32,411	9,636	54,564
Prepaid expenses and other current assets	(2,328)	14,119	(115)
Other long-term assets	(15,346)	(12,394)	(10,146)
Accrued compensation and benefits	44,137	11,296	21,535
Accounts payable and other accrued expenses	107,515	47,316	14,846
Accrued interest	122	6,218	(806)
Income tax reserves	(278)	140	(91)
Other current liabilities	(7,878)	4,755	7,562
Other long-term liabilities	3,210	24,260	25,505
Net cash provided by operating activities	499,610	369,143	382,277
Cash flows from investing activities
Purchases of property, equipment, and software	(94,681)	(78,437)	(53,919)
Payments for businesses acquired, net of proceeds from sales of business	5,469	(19,113)	(247,627)
Insurance proceeds received for damage to equipment	0	1,097	650
Net cash used in investing activities	(89,212)	(96,453)	(300,896)
Cash flows from financing activities
Proceeds from issuance of common stock	11,266	8,907	6,314
Stock option exercises	12,116	12,095	14,687
Excess tax benefits from stock-based compensation	0	0	18,175
Repurchases of common stock	(252,824)	(270,318)	(46,548)
Cash dividends paid	(114,234)	(103,411)	(92,925)
Dividend equivalents paid to option holders	(280)	(951)	(2,254)
Repayment of debt	(170,512)	(317,149)	(968,325)
Proceeds from debt issuance	102,071	467,678	1,019,383
Payment on contingent liabilities from acquisition	(969)	0	0
Net cash used in financing activities	(413,366)	(203,149)	(51,493)
Net (decrease) increase in cash and cash equivalents	(2,968)	69,541	29,888
Cash and cash equivalents––beginning of year	286,958	217,417	187,529
Cash and cash equivalents––end of year	283,990	286,958	217,417
Supplemental disclosures of cash flow information
Interest	76,731	62,498	49,062
Income taxes	52,512	128,416	89,556
Supplemental disclosures of non-cash investing and financing activities
Share repurchases transacted but not settled and paid	6,315	9,146	9,907
Contingent consideration arising from businesses acquired	0	0	3,576
Noncash financing activities	$ 3,033	$ 0	$ 0

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Class A Common Stock	Common Stock Class A Common Stock	Treasury Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Balance (shares) at Mar. 31, 2016			153,391,058	(5,398,596)
Beginning of year at Mar. 31, 2016	$ 408,488		$ 1,534	$ (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)				(1,615,181)
Repurchase of common stock	(56,455)			$ (56,455)
Recognition of liability related to future stock option exercises	(968)				(968)
Net income	260,825					260,825
Other comprehensive income, net of tax	2,536						2,536
Dividends paid	(92,925)					(92,925)
Stock-based compensation expense	21,249				21,249
Balance (shares) at Mar. 31, 2017			155,901,485	(7,013,777)
End of year at Mar. 31, 2017	584,873		$ 1,559	$ (191,900)	302,907	489,384	(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
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	301,692					301,692
Reclassification of AOCI due to the Act	0					2,851	(2,851)
Other comprehensive 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	(14,582,134)
End of year at Mar. 31, 2018	562,491		$ 1,580	$ (461,457)	346,958	690,516	(15,106)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, in shares			876,187
Issuance of common stock	11,266		$ 9		11,257
Stock options exercised (in shares)			1,019,965
Stock options exercised	$ 12,116		$ 10		12,106
Repurchase of common stock (in shares)	(5,100,000)			(5,314,838)
Repurchase of common stock	$ (249,993)	$ (239,800)		$ (249,993)
Recognition of liability related to future stock option exercises	0				0
Net income	418,529					418,529
Other comprehensive income, net of tax	3,916						3,916
Dividends paid	(114,234)					(114,234)
Stock-based compensation expense	31,275				31,275
Balance (shares) at Mar. 31, 2019			159,924,825	(19,896,972)
End of year at Mar. 31, 2019	$ 675,366		$ 1,599	$ (711,450)	$ 401,596	$ 994,811	$ (11,190)

Business Overview	12 Months Ended
Business Overview	Mar. 31, 2019
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 the Company, we, us, and our, was incorporated in Delaware in May 2008. The Company provides management and technology consulting, analytics, engineering, 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 26,100 employees as of March 31, 2019.

Summary of Significant Accounting Policies

12 Months Ended

Mar. 31, 2019

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, 2019 and 2018 and the Company’s results of operations for fiscal 2019, fiscal 2018, and fiscal 2017.

Certain amounts reported in the Company's prior year consolidated financial statements have been reclassified to conform to the current year presentation. Effective April 1, 2018, the Company adopted Accounting Standards Codification (ASC) No. 606, Revenue from Contracts with Customers (Topic 606), and Accounting Standard Updates (ASU) 2017-07, Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost, on a full retrospective method for amounts and percentages presented and disclosures set forth in this Form 10-K for fiscal 2019, 2018, and 2017.

Accounting Estimates

The preparation of consolidated financial statements in conformity with 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, including the accrual of indirect costs, 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

The Company's revenues from contracts with customers (clients) are derived from offerings that include consulting, analytics, digital solutions, engineering, and cyber services, substantially with the U.S. government and its agencies, and to a lesser extent, subcontractors. The Company also serves foreign governments, as well as domestic and international commercial clients. The Company performs under various types of contracts, which include cost-reimbursable-plus-fee contracts, time-and-material contracts, and fixed-price contracts.

The Company considers a contract with a customer to exist under Topic 606, when there is approval and commitment from both the Company and the customer, the rights of the parties and payment terms are identified, the contract has commercial substance, and collectability of consideration is probable. The Company also will consider whether two or more contracts entered into with the same customer should be combined and accounted for as a single contract. Furthermore, in certain transactions with commercial clients and with the U.S. government, the Company may commence providing services prior to receiving a formal approval from the customer. In these situations, the Company will consider the factors noted above, the risks associated with commencing the work and legal enforceability in determining whether a contract with the customer exists under Topic 606.

Customer contracts are often modified to change the scope, price, specifications or other terms within the existing arrangement. Contract modifications are evaluated by management to determine whether the modification should be accounted for as part of the original performance obligation(s) or as a separate contract. If the modification adds distinct goods or services and increases the contract value proportionate to the stand-alone selling price of the additional goods or services, it will be accounted for as a separate contract. Generally, the Company’s contract modifications do not include goods or services which are distinct, and therefore are accounted for as part of the original performance obligation(s) with any impact on transaction price or estimated costs at completion being recorded as through a cumulative catch-up adjustment to revenue.

The Company evaluates each service deliverable contracted with the customer to determine whether it represents promises to transfer distinct goods or services. Under Topic 606, these are referred to as performance obligations. One or more service deliverables often represent a single performance obligation. This evaluation requires significant judgment and the impact of combining or separating performance obligations may change the time over which revenue from the contract is recognized. The Company’s contracts generally provide a set of integrated or highly interrelated tasks or services and are therefore accounted for as a single performance obligation. However, in cases where we provide more than one distinct good or service within a customer contract, the contract is separated into individual performance obligations which are accounted for discretely.

Contracts with the U.S. government are subject to the Federal Acquisition Regulation ("FAR") and are priced based on estimated or actual costs of providing the goods or services. The Company derives a majority of its revenue from contracts awarded through a competitive bidding process. Pricing for non-U.S. government agencies and commercial customers is based on discrete negotiations with each customer. Certain of the Company’s contracts contain award fees, incentive fees or other provisions that may increase or decrease the transaction price. These variable amounts generally are awarded upon achievement of certain performance metrics, program milestones or cost targets and may be based upon customer discretion. Management estimates variable consideration as the most likely amount that we expect to achieve based on our assessment of the variable fee provisions within the contract, prior experience with similar contracts or clients, and management’s evaluation of the performance on such contracts. The Company may perform work under a contract that has not been fully funded if the work has been authorized by the management and the customer to proceed. The Company evaluates unfunded amounts as variable consideration in estimating the transaction price. We include the estimated variable consideration in our transaction price to the extent that it is probable that a significant reversal of revenue will not occur upon the ultimate settlement of the variable fee provision. In the limited number of situations where our contracts with customers contain more than one performance obligation, the Company allocates the transaction price of a contract between the performance obligations in the proportion to their respective stand-alone selling prices. The Company generally estimates the stand-alone selling price of performance obligations based on an expected cost-plus margin approach as allowed under Topic 606. Our U.S. government contracts generally contain FAR provisions that enable the customer to terminate a contract for default or for the convenience of the U.S. government.

The Company recognizes revenue for each performance obligation identified within our customer contracts when, or as, the performance obligation is satisfied by transferring the promised goods or services. Revenue may either be recognized over time, or at a point in time. The Company generally recognizes revenue over time as our contracts typically involve a continuous transfer of control to the customer. A continuous transfer of control under contracts with the U.S. government and its agencies is evidenced by clauses which require the Company to be paid for costs incurred plus a reasonable margin in the event that the customer unilaterally terminates the contract for convenience. For contracts where the Company recognizes revenue over time, a contract cost-based input method is generally used to measure progress towards satisfaction of the underlying performance obligation(s). Contract costs include direct costs such as materials, labor and subcontract costs, as well as indirect costs identifiable with, or allocable to, a specific contract that are expensed as incurred. The Company does not incur material incremental costs to acquire or fulfill contracts. Under a contract cost-based input method, revenue is recognized based on the proportion of contract costs incurred to the total estimated costs expected to be incurred upon completion of the underlying performance obligation. The Company includes generally both funded and unfunded portions of customer contracts in this estimation process.

For interim financial reporting periods, contract revenue attributable to indirect costs is recognized based upon 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 identified. This change relates to the interim financial reporting period differences between the actual indirect cost incurred and allocated to customer contracts compared to the estimated amounts allocated to contracts using the estimated annual forward-pricing rates established with the U.S. government.

On certain contracts, principally time-and-materials and cost-reimbursable-plus-fee contracts, revenue is recognized using the right-to-invoice practical expedient as the Company is contractually able to invoice the customer based on the control transferred. However, we did not elect to use the practical expedient which would allow the Company to exclude contracts recognized using the right-to-invoice practical expedient from the remaining performance obligations disclosed below. Additionally, for stand-ready performance obligations to provide services under fixed-price contracts, revenue is recognized over time using a straight-line measure of progress as the control of the services is provided to the customer ratably over the term of the contract. If a contract does not meet the criteria for recognition of revenue over time, we recognize revenue at the point in time when control of the good or service is transferred to the customer. Determining a measure of progress towards the satisfaction of performance obligations requires management to make judgments that may affect the timing of revenue recognition.

In addition to the right-to-invoice practical expedient discussed above, the Company applied certain other practical expedients permitted by Topic 606, which include: a) using the portfolio approach where contracts with similar characteristics were assessed collectively to evaluate risk of being impacted by the adoption of Topic 606; b) applying the practical expedient allowing the Company to not restate completed contracts which began and ended in the same fiscal year prior to the date of the initial adoption; and c) electing to omit the disclosure related to remaining performance obligations for reporting periods presented before the date of the initial adoption.

Many of our contracts recognize revenue under a contract cost-based input method and require an Estimate-at-Completion (EAC) process, which management uses to review and monitor the progress towards the completion of our performance obligations. Under this process, management considers various inputs and assumptions related to the EAC, including, but not limited to, progress towards completion, labor costs and productivity, material and subcontractor costs, and identified risks. Estimating the total cost at completion of performance obligations is subjective and requires management to make assumptions about future activity and cost drivers under the contract. Changes in these estimates can occur for a variety of reasons and, if significant, may impact the profitability of the Company’s contracts. Changes in estimates related to contracts accounted for under the EAC process are recognized in the period when such changes are made on a cumulative catch-up basis. If the estimate of contract profitability indicates an anticipated loss on a contract, the Company recognizes the total loss at the time it is identified. For fiscal years ended March 31, 2019, 2018 and 2017, the aggregate impact of adjustments in contract estimates was not material.

Remaining performance obligations represent the transaction price of exercised contracts for which work has not yet been performed, irrespective of whether funding has or has not been authorized and appropriated as of the date of exercise. Remaining performance obligations do not include negotiated but unexercised options or the unfunded value of expired contracts.

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 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. 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, and computer equipment is depreciated over four 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 20 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, software and other amortizable intangible assets. The Company capitalizes the following costs associated with developing internal-use computer software pertaining to upgrades in our business and financial systems: (i) external direct costs of materials and services consumed in developing or obtaining internal-use computer software and (ii) certain payroll and payroll-related costs for Company employees who are directly associated with the development of internal-use software, to the extent of the time spent directly on the project. 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. Software purchased or developed for internal use is amortized over three to six 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 years ended March 31, 2019 and March 31, 2018, 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, 2019, 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, 2019, 2018, and 2017, 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, 2019, 2018, and 2017, 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 14 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, 2019 and 2018 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 20 to our consolidated financial statements for additional information on the Company’s fair value measurements.

Recently Adopted Accounting Standards

In March 2019, the SEC issued its Final Rule Release No. 33-10618, FAST Act Modernization and Simplification of Regulation S-K. The guidance in this Release revises certain disclosure requirements in SEC Regulation S-K, with the intent of improving the readability of filed documents and simplifying registrants' compliance efforts. The Company adopted certain aspects of this Release in the fourth quarter of fiscal 2019 which did not have a material impact on the consolidated financial statements. Other aspects not yet adopted are still being evaluated but are not expected to be material.

The Company completed its assessment for the tax effects of the Tax Cuts and Jobs Act, or the 2017 Tax Act, under the guidance of Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act, or SAB 118, during the third quarter of fiscal 2019. The Company recorded adjustments to previously recognized provisional estimates primarily related to the re-measurement effects on certain deferred tax balances. The completion of its assessment resulted in a reduction in the provision for income taxes during the third quarter of fiscal 2019. See Note 14 to the consolidated financial statements for further information regarding the impact of the 2017 Tax Act on fiscal 2019.

In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, Disclosure Update and Simplification, amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders' equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders' equity presented in the balance sheet must be provided in a note or separate statement. The amendments set forth certain presentation requirements, including that such analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed with all significant reconciling items described by appropriate captions with contributions from and distributions to owners shown separately. The amendments became effective on November 5, 2018 and did not have a material effect on the Company's consolidated financial statements for fiscal 2019. According to the SEC’s Questions and Answers of General Applicability Question 105.09 dated September 25, 2018 and updated October 4, 2018, the SEC would not object if the filer’s first presentation of the changes in stockholders’ equity is included in its Form 10-Q for the quarter that begins after the effective date of the amendments. The Company will first present such changes beginning with the first quarter of fiscal 2020.

In August 2018, the FASB issued ASU 2018-14, Compensation -Retirement Benefits -Defined Benefit Plans -General (Topic 715-20) - Disclosure Framework -Changes to the Disclosure Requirement for Defined Benefit Plans. This guidance is designed to improve the effectiveness of disclosures by removing and adding disclosures related to defined benefit plans. ASU 2018-14 is effective for reporting periods beginning after December 15, 2020 with early adoption permitted. In the fourth quarter of fiscal 2019 the Company early adopted this standard and adoption of this standard did not have a material impact on the consolidated financial statements.

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. In the fourth quarter of fiscal 2019 the Company early adopted this standard using the modified retrospective approach. The adoption of this standard did not have a material impact on the consolidated financial statements.

In May 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standard Codification No. 606, Revenue from Contracts with Customers (Topic 606). Topic 606, as amended, replaced existing revenue recognition standards by outlining a single set of comprehensive principles for recognizing revenue. The revenue standard also significantly expanded 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 adopted the new revenue standard using the full retrospective transition method, which requires that it be applied to each prior reporting period presented and that the cumulative effect of applying the standard be recognized at the earliest period presented (i.e., April 1, 2016, 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 as of the date of adoption. The cumulative impact on our retained earnings for the earliest period presented of April 1, 2016 was an increase of $2.9 million. Thereafter, the adoption of Topic 606 increased our fiscal 2017 retained earnings by $8.4 million and decreased our fiscal 2018 retained earnings by $3.4 million, resulting in a cumulative impact on our retained earnings of$7.9 million as of April 1, 2018. The impact of Topic 606 on fiscal 2017 and 2018 results may not be representative of the impact on subsequent years’ results.

The Company also retrospectively adopted ASU 2017-07, which changed the presentation of net periodic benefit cost components on the condensed consolidated statement of operations. Under this guidance, the service cost component of net periodic benefit cost continues to be presented consistent with other employee compensation costs and within operating income, while the remaining components of net periodic benefit costs are excluded from operating income. As a result, net periodic benefit costs related to non-service components were reclassified to Other income (expense), net in the consolidated statement of operations for fiscal 2018 and 2017. See adoption impacts of ASU 2017-07 in the table below.

The Company's previously issued consolidated financial statements have been adjusted for the retrospective adoption of both Topic 606 and ASU 2017-07, as summarized in the following table:



	Fiscal Year Ended March 31, 2018								Fiscal Year Ended March 31, 2017
	Effect of Adoption								Effect of Adoption
	As Reported		Topic 606			ASU 2017-07	As Adjusted		As Reported		Topic 606		ASU 2017-07	As Adjusted
Revenue	$	6,171,853	$	(4,253	)	—	$	6,167,600	$	5,804,284	$	5,207	—	$	5,809,491
Operating income	520,085		(7,968		)	7,606	519,723		484,247		13,757		8,010	506,014
Income before income taxes	438,004		(7,968		)	—	430,036		411,900		13,757		—	425,657
Net income	305,111		(3,419		)	—	$	301,692	252,490		8,335		—	260,825
Earnings per common share (Note 4):
Basic	$	2.08	$	(0.03	)	—	$	2.05	$	1.69	$	0.05	—	$	1.74
Diluted	$	2.05	$	(0.02	)	—	$	2.03	$	1.67	$	0.05	—	$	1.72

Recent Accounting Pronouncements Not Yet Adopted

In August 2018, the FASB issued ASU No. 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This guidance requires a customer in a cloud computing arrangement that is a service contract to follow existing internal-use software guidance to determine which implementation costs to defer and recognize as an asset. ASU 2018-15 generally aligns the guidance on capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with that of implementation costs incurred to develop or obtain internal-use software, including hosting arrangements that include an internal-use software license. ASU 2018-15 is effective for interim reporting periods for fiscal years beginning after December 15, 2019. Early adoption is permitted. The standard may be adopted either retrospectively or prospectively. The Company is currently assessing the future impact of this update on its consolidated financial statements and related disclosures.

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. In July 2018, the FASB provided an alternative transition method of adoption through ASU No. 2018-11, Targeted Improvements, which permits the recognition of a cumulative-effect adjustment to retained earnings on the date of adoption. The Company will adopt the standard beginning in fiscal 2020 using the modified retrospective transition approach, specifically, using the alternative transition method provided by ASU 2018-11.

A dedicated implementation team has substantially completed its evaluation of the impact of the new standard. The Company's assessment efforts to date have included reviewing the provisions of Topic 842, gathering information to evaluate its lease population and portfolio, evaluating the nature of real and personal property and other arrangements that may meet the definition of a lease, designing and implementing one-time implementation controls as well as new post-adoption lease processes and controls, implementing a new lease accounting software solution, and evaluating certain accounting policy elections. As a result of our evaluation, the Company identified changes to and modified certain of our accounting policies and practices. While some modifications were complex to design and test, the effect of such changes are not expected to be significant upon adoption of Topic 842. The Company will elect certain practical expedients provided under Topic 842, including the option not to apply lease recognition for short–term leases; an election to not separate lease from non-lease components; and a package of practical expedients such that, upon the initial adoption of Topic 842, the Company will not reassess whether expired or existing contracts contain leases, nor will the Company reassess the lease classification for expired or existing leases.

The Company expects that upon adoption it will recognize a material right-of-use asset of approximately $270 million and a lease liability of approximately $330 million on the balance sheet, which is inclusive of required conforming balance sheet reclassifications. The Company does not expect the standard to have any other material impact on the consolidated financial statements or results of operations. Adoption of the standard is not expected to impact the Company’s ability to comply with the financial covenants as defined in the Credit Agreement discussed further in Note 12. The Company is continuing to refine its processes in order to meet the accounting and disclosure requirements upon adoption of Topic 842 in the first quarter of fiscal 2020.

Other recent accounting pronouncements issued during fiscal 2019 and through the filing date are not expected to have a material impact on the Company's present or historical consolidated financial statements.

Revenue

12 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue

REVENUE

Disaggregation of Revenue

We disaggregate our revenue from contracts with customers by contract type, customer, as well as whether the Company acts as prime contractor or sub-contractor, as we believe these categories best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. The following series of tables presents our revenue disaggregated by these categories.

Revenue by Contract Type:

We generate revenue under the following three basic types of contracts:


•	Cost-Reimbursable Contracts: Cost-reimbursable contracts provide for the payment of allowable costs incurred during performance of the contract, up to a ceiling based on the amount that has been funded, plus a fixed fee or award fee.


•	Time-and-Materials Contracts: Under contracts in this category, we are paid a fixed hourly rate for each direct labor hour expended, and we are reimbursed for billable material costs and billable out-of-pocket expenses inclusive of allocable indirect costs. We assume the financial risk on time-and-materials contracts because our costs of performance may exceed negotiated hourly rates.


•	Fixed-Price Contracts: Under a fixed-price contract, we agree to perform the specified work for a predetermined price. To the extent our actual direct and allocated indirect costs decrease or increase from the estimates upon which the price was negotiated, we will generate more or less profit, respectively, or could incur a loss.

The table below presents the total revenue for each type of contract:



	Fiscal Year Ended March 31,
	2019			2018			2017
Cost-reimbursable	$	3,580,595	53%	$	3,155,049	51%	$	2,882,178	50%
Time-and-materials	1,576,673		24%	1,542,899		25%	1,500,851		26%
Fixed-price	1,546,769		23%	1,469,652		24%	1,426,462		24%
Total Revenue	$	6,704,037	100%	$	6,167,600	100%	$	5,809,491	100%

Revenue by Customer Type:



	Fiscal Year Ended March 31,
	2019			2018			2017
U.S. government:
Defense Clients	$	3,114,571	47%	$	2,830,102	46%	$	2,699,284	46%
Intelligence Clients	1,566,870		23%	1,494,489		24%	1,344,906		23%
Civil Clients	1,760,996		26%	1,644,860		27%	1,611,309		28%
Total U.S. government	6,442,437		96%	5,969,451		97%	5,655,499		97%
Global Commercial Clients	261,600		4%	198,149		3%	153,992		3%
Total Revenue	$	6,704,037	100%	$	6,167,600	100%	$	5,809,491	100%

Revenue by Whether the Company Acts as a Prime Contractor or a Sub-Contractor:



	Fiscal Year Ended March 31,
	2019			2018			2017
Prime Contractor	$	6,159,918	92%	$	5,626,544	91%	$	5,261,499	91%
Sub-contractor	544,119		8%	541,056		9%	547,992		9%
Total Revenue	$	6,704,037	100%	$	6,167,600	100%	$	5,809,491	100%

Performance Obligations

As of March 31, 2019, the Company had $5.8 billion of remaining performance obligations and we expect to recognize more than half of the remaining performance obligations as revenue over the next 12 months, and approximately three quarters over the next 24 months. The remainder is expected to be recognized thereafter.

Contract Balances

As discussed in Note 2, the Company's performance obligations are typically satisfied over time and revenue is generally recognized using a cost-based input method. Fixed-price contracts are typically billed to the customer using milestone or fixed monthly payments, while cost-reimbursable-plus-fee and time-and-material contracts are typically billed to the customer at periodic intervals (e.g. monthly or weekly) as indicated by the terms of the contract. Disparities between the timing of revenue recognition and customer billings and cash collections results in net contract assets or liabilities being recognized at the end of each reporting period.

Contract assets primarily consist of unbilled receivables typically resulting from revenue recognized exceeding the amount billed to the customer and right to payment is not just subject to the passage of time. Contract liabilities primarily consist of advance payments, billings in excess of costs incurred and deferred revenue. Contract assets and liabilities are reported on a net contract basis at the end of each reporting period. The Company maintains an allowance for doubtful accounts to provide for an estimate of uncollected receivables. Refer to Note 7 for more information on receivables recognized from contracts accounted for under Topic 606.

The following table summarizes the contract balances recognized on the Company’s consolidated balance sheets:



	March 31, 2019		March 31, 2018
Contract assets:
Current	$	846,372	$	738,646
Long-term	61,391		59,633
Total	907,763		798,279
Contract liabilities:
Advance payments, billings in excess of costs incurred and deferred revenue	$	21,316	$	27,522

Changes in contract assets and contract liabilities are primarily due to the timing difference between the Company’s performance of services and payments from customers. For fiscal 2019, 2018 and 2017, we recognized revenue of $25.3 million, $16.2 million and $10.5 million, respectively, related to our contract liabilities on April 1, 2018, 2017 and 2016, respectively. To determine revenue recognized from contract liabilities during the reporting periods, the Company allocates revenue to individual contract liability balances and applies revenue recognized during the reporting periods first to the beginning balances of contract liabilities until the revenue exceeds the balances.

Earnings Per Share

12 Months Ended

Mar. 31, 2019

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 2019, 2018, and 2017. 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,
	2019		2018		2017
Earnings for basic computations (1)	$	416,664	$	299,824	$	258,495
Weighted-average Class A Common Stock outstanding	141,910,799		145,964,574		148,218,968
Total weighted-average common shares outstanding for basic computations	141,910,799		145,964,574		148,218,968
Earnings for diluted computations (1)	$	416,675	$	299,837	$	258,514
Dilutive stock options and restricted stock	1,245,377		1,785,448		2,055,672
Average number of common shares outstanding for diluted computations	143,156,176		147,750,022		150,274,640
Earnings per common share
Basic	$	2.94	$	2.05	$	1.74
Diluted	$	2.91	$	2.03	$	1.72

(1) During fiscal 2019, 2018, and 2017 approximately 0.6 million, 0.8 million, and 1.3 million shares of participating securities were paid dividends totaling $0.6 million, $0.8 million, and $0.9 million, respectively. For fiscal 2019, there were undistributed earnings of $1.2 million allocated to the participating class of securities in both basic and diluted earnings per share. 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. 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 2019, 2018, and 2017.

The EPS calculation for fiscal 2019, 2018, and 2017 excludes 0.2 million, 0.3 million, and 0.05 million options, respectively, as their impact was anti-dilutive.

Acquisitions

12 Months Ended

Mar. 31, 2019

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

There were no material acquisitions or dispositions during fiscal 2019 and 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 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.

Goodwill and Intangible Assets

12 Months Ended

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

Goodwill

As of March 31, 2019 and 2018, goodwill was $1,581.2 million and $1,581.1 million, respectively.

The Company performed an annual impairment test of goodwill as of January 1, 2019 and 2018, and we did not identify any impairment.

Intangible Assets

Intangible assets consisted of the following:



		March 31, 2019						March 31, 2018
	Weighted Average remaining period of amortization	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
	(in years)
Amortizable intangible assets:
Customer relationships and other amortizable intangible assets	8.8	$	115,814	$	60,762	$	55,052	$	115,808	$	45,036	$	70,772
Software	3.7	88,338		46,539		41,799		59,051		41,519		17,532
Total amortizable intangible assets	7.5	$	204,152	$	107,301	$	96,851	$	174,859	$	86,555	$	88,304
Unamortizable intangible assets:
Trade name		$	190,200	$	—	$	190,200	$	190,200	$	—	$	190,200
Total		$	394,352	$	107,301	$	287,051	$	365,059	$	86,555	$	278,504

Intangible assets, net include software purchased and developed that was reclassified from property plant and equipment as of March 31, 2019 and 2018, respectively. Intangible assets are generally amortized on an accelerated basis over periods ranging from 3 years to 12 years.

The Company performed an annual impairment test of the trade name as of January 1, 2019 and 2018, 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 were reduced related to fully-amortized intangible assets.

Amortization expense for fiscal 2019, 2018, and 2017 was $20.9 million, $20.7 million, and $17.9 million, respectively.

The following table summarizes the estimated annual amortization expense for future periods, which does not reflect amortization expense for certain intangible assets that are not yet placed in service, as indicated below:



For the Fiscal Year Ended March 31,
2020	$	18,863
2021	15,421
2022	11,433
2023	9,667
2024	6,401
Thereafter	12,532
Total estimated amortization expense	$	74,317

Accounts Receivable, Net of Allowance

12 Months Ended

Mar. 31, 2019

Receivables [Abstract]

Accounts Receivable, Net of Allowance

ACCOUNTS RECEIVABLE, NET OF ALLOWANCE

Accounts receivable, net of allowance consisted of the following:



	March 31,
	2019			2018
Current assets:
Accounts receivable–billed	$	494,671		$	395,136
Accounts receivable–unbilled	846,372			738,646
Allowance for doubtful accounts	(10,679		)	(77		)
Accounts receivable, net of allowance	1,330,364			1,133,705
Other long-term assets:
Accounts receivable–unbilled	61,391			59,633
Total accounts receivable, net	$	1,391,755		$	1,193,338

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 $11.9 million, $3.2 million, and $0.6 million for fiscal 2019, 2018, and 2017, 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, 2019

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,
	2019			2018
Furniture and equipment	$	174,298		$	164,061
Computer equipment	96,028			79,629
Leasehold improvements	225,310			202,133
Total	495,636			445,823
Less: Accumulated depreciation and amortization	(323,183		)	(293,459		)
Property and equipment, net	$	172,453		$	152,364

Depreciation and amortization expense relating to property and equipment for fiscal 2019, 2018, and 2017 was $47.8 million, $44.3 million, and $42.3 million, respectively. During fiscal 2019 and 2018, the Company reduced the gross cost and accumulated depreciation and amortization by $11.4 million and $15.5 million, respectively, for zero net book value assets deemed no longer in service.

Accounts Payable and Other Accrued Expenses

12 Months Ended

Mar. 31, 2019

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,
	2019		2018
Vendor payables	$	417,648	$	339,993
Accrued expenses	247,300		217,566
Total accounts payable and other accrued expenses	$	664,948	$	557,559

Accrued expenses consisted primarily of the Company’s reserve related to potential cost disallowance in conjunction with government audits. Refer to Note 22 for further discussion of this reserve.

Accrued Compensation and Benefits

12 Months Ended

Mar. 31, 2019

Accrued Compensation and Benefits

ACCRUED COMPENSATION AND BENEFITS

Accrued compensation and benefits consisted of the following:



	March 31,
	2019		2018
Bonus	$	117,604	$	87,817
Retirement	37,678		35,743
Vacation	141,953		131,519
Other	28,318		27,671
Total accrued compensation and benefits	$	325,553	$	282,750

Deferred Payment Obligation

12 Months Ended

Mar. 31, 2019

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. 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 22 to our consolidated financial statements).

During fiscal 2019, 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, 2019 and 2018. Accordingly, $81.3 million was recorded within other current liabilities as of March 31, 2019 and 2018, representing 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,
	2019		2018
Deferred payment obligation:	$	80,000	$	80,000
Accrued interest	1,304		1,311
Amount recorded in the consolidated balance sheet	$	81,304	$	81,311

The Company paid $8.0 million in each of fiscal 2019 and 2018 of accrued interest to the selling shareholders.

Debt

12 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Debt

DEBT

Debt consisted of the following:



	March 31, 2019					March 31, 2018
	Interest Rate		Outstanding Balance			Interest Rate		Outstanding Balance
Term Loan A	4.00	%	$	1,037,713		3.88	%	$	1,094,275
Term Loan B	4.50	%	391,050			3.88	%	395,000
Senior Notes	5.13	%	350,000			5.13	%	350,000
Less: Unamortized debt issuance costs and discount on debt			(19,002		)			(20,696		)
Total			1,759,761					1,818,579
Less: Current portion of long-term debt			(57,924		)			(63,100		)
Long-term debt, net of current portion			$	1,701,837				$	1,755,479

Terms Loans and Revolving Credit Facility

On July 23, 2018 (the "Amendment Effective Date"), Booz Allen Hamilton Inc.("Booz Allen Hamilton") and Booz Allen Hamilton Investor Corporation ("Investor"), and certain wholly-owned subsidiaries of Booz Allen Hamilton, entered into the Sixth Amendment (the "Sixth Amendment") to the Credit Agreement (as amended, 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 and the other lenders and financial institutions from time to time party thereto (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, the Fourth Amendment to the Credit Agreement, dated as of February 6, 2017 and the Fifth Amendment to the Credit Agreement, dated as of March 7, 2018). The Sixth Amendment provides for a new delayed draw (the "Delayed Draw Facility") on the tranche A term loan ("Term Loan A") facility in the amount of up to $400.0 million and extended the maturity of the Term Loan A and the revolving credit facility (the "Revolving Credit Facility") to July 2023. Additionally, the Sixth Amendment reduced the interest rate spread applicable to Term Loan A and the Revolving Credit Facility from a range of 1.50% to 2.25% to a range of 1.25% to 2.00% based on consolidated net leverage. The interest rate applicable to the Term Loan B ("Term Loan B" and, together with Term Loan A, the "Term Loans") remained unchanged.

Prior to the Sixth Amendment, approximately $1,079.5 million was outstanding under Term Loan A. Pursuant to the Sixth Amendment, certain lenders converted their existing Term Loan A loans into a new tranche of Term Loan A loans in an aggregate amount, along with Term Loan A loans advanced by certain new lenders, of approximately $1,479.5 million, $400.0 million of which will be available as the Delayed Draw Facility. The Delayed Draw Facility is accessible for nine months from the Amendment Effective Date (the "Delayed Draw Availability Period"). The Company is able to draw on the facility up to two times during the Delayed Draw Availability Period in an amount per draw (x) of not less than $100.0 million per draw or (y) equal to the amount of unused commitments in respect of the Delayed Draw Facility remaining at the time of such borrowing. The proceeds from the new lenders were used to prepay in full all of the existing Term Loan A tranche. The proceeds of the Delayed Draw Facility will be used for general corporate purposes and other purposes not prohibited by the Credit Agreement.

Prior to the Sixth Amendment, $500.0 million was available under the revolving credit facility. Pursuant to the Sixth Amendment, certain lenders under the Existing Credit Agreement converted their Existing Revolving Commitments into a new tranche of revolving commitments (the "New Revolving Commitments" and the revolving credit loans made thereunder, the "New Revolving Loans") in an aggregate amount, along with New Revolving Commitments of certain new lenders, of $500.0 million.

As of March 31, 2019, the Credit Agreement provided the Company with a $1,037.7 million Term Loan A, a $400 million Delayed Draw Facility, and a $391.1 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, 2019, the maturity date of Term Loan A and the termination date for the Revolving Credit Facility was July 23, 2023 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 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 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 greater of (x) $627 million and (y) 100% of consolidated EBITDA of Booz Allen Hamilton, as of the end of the most recently ended four quarter period for which financial statements have been delivered pursuant to the Credit Agreement plus (ii) the aggregate principal amount under which pro forma consolidated net secured leverage remains less than or equal to 3.50:1.00.

At Booz Allen Hamilton’s option, borrowings under the Secured 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 1.25% to 2.00% for LIBOR loans and 0.25% to 1.00% 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 loans and 1.00% for base rate loans. Unused commitments under the Revolving Credit Facility were, from the effective date of the Sixth Amendment until the delivery of financial statements for the first full fiscal quarter ending after the Sixth Amendment effective date pursuant to the Credit Agreement, subject to a quarterly fee of 0.25% and are, following such delivery of financial statements, subject to a quarterly fee ranging from 0.20% to 0.35% based on Booz Allen Hamilton’s consolidated total net leverage ratio. Until the Delayed Draw Facility was drawn down on April 23, 2019, commitments under the Delayed Draw Facility were subject to a quarterly fee ranging from 0.20% to 0.35% based on Booz Allen Hamilton's consolidated total net leverage ratio.

Booz Allen Hamilton occasionally borrows under the Revolving Credit Facility in anticipation of cash demands. During fiscal 2019 and 2018, Booz Allen Hamilton accessed a total of $110.0 million and $125.0 million, respectively, of its $500.0 million Revolving Credit Facility. As of March 31, 2019 and 2018, there was no outstanding balance 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 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) change in fiscal periods; (viii) negative pledges; (ix) restrictive agreements; (x) line of business; and (xi) 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, 2019 and 2018, Booz Allen Hamilton was in compliance with all financial covenants associated with its debt and debt-like instruments.

During fiscal 2019, interest payments of $41.9 million and $16.8 million were made for Term Loan A and Term Loan B, respectively. During fiscal 2018, interest payments of $38.1 million and $14.9 million were made for Term Loan A and Term Loan B, respectively.

Senior Notes

On April 25, 2017, Booz Allen Hamilton issued $350 million aggregate principal amount of its 5.125% Senior Notes (the "Senior Notes"), under an Indenture, dated as of April 25, 2017, among Booz Allen Hamilton, certain subsidiaries of Booz Allen Hamilton, as guarantors (the "Subsidiary Guarantors"), and Wilmington Trust, National Association, as trustee, (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 2019 and 2018, interest payments of $17.9 million and $9.3 million were made for the Senior Notes.

Borrowings under the Term Loans, and if used, the Revolving Credit Facility, incur interest at a variable rate. In accordance with Booz Allen Hamilton's risk management strategy, Booz Allen Hamilton executed a series of interest rate swaps. As of March 31, 2019, Booz Allen Hamilton had interest rate swaps with an aggregate notional amount of $600 million. These instruments hedge the variability of cash outflows for interest payments on the floating potion of the term loan debt. The Company's objectives in using cash flow hedges are to reduce volatility due to interest rate movements and to add stability to interest expense (See Note 13 in our consolidated financial statements).

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



	Payments Due By March 31,
	Total	2020	2021	2022	2023	2024	Thereafter
Term Loan A	$1,037,713	$53,974	$53,974	$53,974	$53,974	$821,817	—
Term Loan B	391,050	3,950	3,950	3,950	3,950	375,250	—
Senior Notes	350,000	—	—	—	—	—	350,000
Total	$1,778,763	$57,924	$57,924	$57,924	$57,924	$1,197,067	$350,000

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



	Fiscal Year Ended March 31,
	2019			2018		2017
Term Loan A Interest Expense	$	42,043		$	37,575	$	28,646
Term Loan B Interest Expense	16,765			14,138		18,874
Interest on Revolving Credit Facility	115			271		751
Senior Notes Interest Expense	17,938			16,742		—
Deferred Payment Obligation Interest (1)	7,993			7,993		7,985
Amortization of Debt Issuance Costs (DIC) and Original Issue Discount (OID) (2)	5,052			5,361		5,683
Other	(389		)	189		359
Total Interest Expense	$	89,517		$	82,269	$	62,298

(1) Interest payments on the deferred payment obligation are made twice a year in January and July. See Note 11 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

Mar. 31, 2019

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 third quarter of fiscal 2019, the Company entered into three forward starting floating-to-fixed interest rate swap agreements with three financial institutions with a start date of April 30, 2019, with an aggregate notional amount of $150 million. The aggregate notional amount of all interest rate swap agreements increased to $600 million as of March 31, 2019. The swaps have staggered maturities, ranging from June 30, 2021 to June 30, 2023. These swaps mature within the last tranche of the Company's floating rate debt (July 23, 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, 2019, $1.8 million, $0.6 million, $0.9 million, and $4.3 million were classified as other current assets, other long-term assets, other current liabilities, and other long-term liabilities, respectively, on the consolidated balance sheet. 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 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. The effect of derivative instruments on the accompanying consolidated financial statements for fiscal years ended March 31, 2019 and 2018 is as follows:



Derivatives in Cash Flow Hedging Relationships	Amount of Gain or (Loss) Recognized in AOCI on Derivative					Location of Gain or Loss Recognized in Income on Derivative	Amount of Gain or (Loss) Reclassified from AOCI into Income				Interest Expense on Consolidated Statements of Operations
	2019			2018		Location of Gain or Loss Recognized in Income on Derivative	2019		2018		2019			2018
Interest rate swaps	$	(9,772	)	$	7,926	Interest expense	$	1,026	$	—	$	(89,517	)	$	(82,269	)

Over the next 12 months, the Company estimates that $0.9 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, 2019

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 included a number of changes to existing U.S. tax laws that impacted the Company, most notably a reduction of the U.S. corporate income tax rate from 35% to 21% effective January 1, 2018. In addition, as a result of the tax rate change, the Company remeasured certain deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future, which is generally 21%.

In the third quarter of fiscal 2019 the Company completed its assessment for the income tax effects of the 2017 Tax Act, including true-up to all provisional amounts previously recorded, within the allowed one-year measurement period provided for under SAB118. Pursuant to SAB118, the Company finalized adjustments to provisional estimates as a reduction in the provision for income taxes of approximately $27.9 million that was primarily due to the measurement-period adjustment associated with an unbilled receivables methodology change effective as of March 31, 2018, which was approved by the IRS in the third quarter of fiscal 2019. All other adjustments to the provisional estimates that the Company recorded through the interim periods of fiscal 2019, such as the acceleration of depreciation and the limitation on the deductibility of certain executive compensation, were not material.

The components of income tax expense were as follows:



	Fiscal Year Ended March 31,
	2019			2018			2017
Current
U.S. Federal	$	34,019		$	89,300		$	115,727
State and local	26,232			20,074			24,273
Foreign	13,617			10,014			3,874
Total current	73,868			119,388			143,874
Deferred
U.S. Federal	23,258			11,356			22,939
State and local	(252		)	(2,400		)	(1,981		)
Foreign	—			—			—
Total deferred	23,006			8,956			20,958
Total	$	96,874		$	128,344		$	164,832

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,
	2019			2018			2017
Income tax expense computed at U.S. federal statutory rate ⁽¹⁾	$	108,235		$	135,667		$	148,980

Increases (reductions) resulting from:
Changes in uncertain tax positions	(278		)	140			(92		)
State and local income taxes, net of federal tax	22,450			14,565			13,882
Foreign income taxes, net of federal tax	10,758			6,855			2,518
Meals and entertainment	1,771			2,247			1,328
Re-measurement of deferred taxes related to the Act	(27,908		)	(9,107		)	—
Excess tax benefits from stock-based compensation	(10,777		)	(14,457		)	—
Federal tax credits	(6,355		)	(6,563		)	(4,402		)
Executive compensation -162(M)	2,615			345			294
IRS audit settlement	(2,573		)	—			—
Other	(1,064		)	(1,348		)	2,324
Income tax expense from operations	$	96,874		$	128,344		$	164,832

(1) The U.S. federal statutory income tax rates for fiscal 2019, 2018 and 2017 are 21%, 31.5% and 35%, respectively.

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



	March 31,
	2019			2018
Deferred income tax assets:
Accrued expenses	$	59,569		$	53,322
Deferred compensation	32,765			28,326
Stock-based compensation	6,265			7,785
Pension and postretirement benefits	32,697			34,449
Net operating loss carryforwards	4,570			3,362
Deferred rent and tenant allowance	24,565			20,931
Extended disability benefits	3,041			5,963
Interest rate swaps	752			—
State tax credits	13,420			9,822
Other	3,804			1,184
Total gross deferred income tax assets	181,448			165,144
Less: Valuation allowance	(2,853		)	(1,373		)
Total net deferred income tax assets	178,595			163,771
Deferred income tax liabilities:
Unbilled receivables	(138,944		)	(108,287		)
Intangible assets	(60,694		)	(57,020		)
Debt issuance costs	(3,146		)	(3,264		)
Property and equipment	(926		)	(398		)
Interest rate swaps	—			(2,076		)
Internally developed software	(8,123		)	—
Total deferred income tax liabilities	(211,833		)	(171,045		)
Net deferred income tax asset (liability)	$	(33,238	)	$	(7,274	)

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, 2019, the Company has available federal, state, and foreign net operating loss ("NOL carryforwards") of $2.3 million, $0.4 million and $1.9 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 $2.9 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, 2019, 2018, and 2017, the Company has recorded $11.5 million, $11.8 million, and $11.6 million, respectively, of reserves for uncertain tax positions which includes potential tax benefits of $11.1 million, $11.6 million, and $1.4 million, respectively, that, when recognized, impact the effective tax rate.

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



	March 31,
	2019			2018			2017
Beginning of year	$	11,608		$	11,588		$	1,449
Increases in prior year position	93			41			127
Increases in current year position	575			—			10,278
Settlements with taxing authorities	(731		)	—			—
Lapse of statute of limitations	(462		)	(21		)	(266		)
End of year	$	11,083		$	11,608		$	11,588

The Company recognized (released) accrued interest and penalties of $0.2 million, $0.1 million and $(9) thousand for fiscal 2019, 2018, and 2017, 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 $0.4 million, $0.2 million and $0.1 million at March 31, 2019, 2018, and 2017, respectively.

The Company is subject to taxation in the United States and various state and foreign jurisdictions. As of March 31, 2019, the Company's federal income tax returns and refund claims examination for fiscal years 2013 through 2015 has been completed by the IRS, resulting in an acceptance of the fully claimed amount of $10.9 million. The remaining jurisdictions' returns open for 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 $11.4 million, net of associated tax benefits as of March 31, 2019. The Company has taken similar tax positions with respect to subsequent fiscal years, totaling in aggregate $27.4 million. As of March 31, 2019, the Company does not maintain reserves for any uncertain tax positions related to the contested tax benefits or the similar tax positions taken in the subsequent fiscal years. Given the Company's position on 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, 2019

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 2019, 2018, and 2017 was $136.3 million, $126.9 million, and $116.6 million, respectively, and the Company-paid contributions were $130.9 million, $123.9 million, and $114.8 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,
	2019		2018		2017
Service cost	$	5,952	$	4,464	$	4,851
Interest cost	5,130		5,008		4,782
Net actuarial loss	2,108		2,271		3,052
Total postretirement medical expense	$	13,190	$	11,743	$	12,685

The service cost component of net periodic benefit cost is included in cost of revenue and general and administrative expenses, and the non-service cost components of net periodic benefit cost (interest cost and net actuarial loss) is included as part of other income (expense), net in the accompanying consolidated statements of operations.

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



	Fiscal Year Ended March 31,
	2019		2018		2017
Officer Medical Plan	4.10	%	4.10	%	4.30	%
Retired Officers’ Bonus Plan	4.10	%	4.10	%	4.30	%
Retired Vice Presidents' Bonus Plan	4.10	%	4.10	%	4.30	%

Assumed healthcare cost trend rates for the Officer Medical Plan at March 31, 2019 and 2018 were as follows:



Pre-65 initial rate	2019		2018
Healthcare cost trend rate assumed for next year	7.50	%	7.75	%
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		2027



Post-65 initial rate	2019		2018
Healthcare cost trend rate assumed for next year	7.75	%	8.00	%
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		2027

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 2019, 2018, and 2017. Benefits paid associated with the Retired Officers’ Bonus Plan were $0.8 million, $1.5 million, and $0.9 million for fiscal 2019, 2018, and 2017, respectively. The end-of-period benefit obligation of $3.7 million and $3.8 million as of March 31, 2019 and 2018, 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 2019 and 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 2019, 2018, and 2017, respectively. The end-of-period benefit obligation associated with the Retired Vice-President Bonus Plan was $0.9 million as of March 31, 2019 and 2018, which are recorded as postretirement obligations within other long-term liabilities in the accompanying consolidated balance sheets.

Other comprehensive loss for fiscal 2019 includes unrecognized gross actuarial gain and prior service cost of $13.9 million, reduced by taxes of $3.6 million, that has not yet been recognized in net periodic pension cost for fiscal 2019 for the Retired Officers’ Bonus Plan, the Officer Medical Plan, and the Retired Vice-President Bonus Plan. 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.

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



	Fiscal Year Ended March 31,
	2019			2018			2017
Benefit obligation, beginning of the year	$	126,886		$	118,089		$	114,008
Service cost	5,952			4,464			4,851
Interest cost	5,130			5,008			4,782
Net actuarial (gain) loss	(13,885		)	2,744			(2,219		)
Benefits paid	(3,742		)	(3,419		)	(3,333		)
Benefit obligation, end of the year	$	120,341		$	126,886		$	118,089

The net benefit obligation gain in fiscal 2019 was due mainly to the favorable medical cost experience in the past year as well as updates to demographic assumptions. The net benefit obligation loss in fiscal 2018 was due largely to a decrease in the discount rate and an updated outlook of higher future medical inflation offset by favorable medical cost experience in the past year. The net benefit obligation gain in fiscal 2017 was due to an increase in the discount rate as well as an update to mortality improvement assumptions.



	Fiscal Year Ended March 31,
Changes in plan assets	2019			2018			2017
Fair value of plan assets, beginning of the year	$	—		$	—		$	—
Employer contributions	3,742			3,419			3,333
Benefits paid	(3,742		)	(3,419		)	(3,333		)
Fair value of plan assets, end of the year	$	—		$	—		$	—

As of March 31, 2019 and 2018, the unfunded status of the Officer Medical Plan was $120.2 million and $126.9 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, 2019 and 2018, 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 $4.6 million and $4.7 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,
2020	$	3,688
2021	$	4,013
2022	$	4,403
2023	$	5,231
2024	$	5,743
2025 - 2029	$	34,061

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 $11.6 million and $22.8 million at March 31, 2019 and 2018, respectively, and are presented in other long-term liabilities in the accompanying consolidated balance sheets.

During the third quarter of fiscal 2019, the long-term disability plan was amended to make Medicare the first payer of eligible medical benefits, with any excess benefits becoming the obligation of the Company. The amendment caused a re-measurement of the plan liability during the period resulting in a reduction of $11.2 million recorded in general and administrative expenses.

Deferred Compensation Plan

The Company established a non-qualified deferred compensation plan (the "Plan") for certain executives and other highly compensated employees that was effective in fiscal 2018. Pursuant to the Plan, participants are eligible to defer up to 100% of their incentive cash compensation on a tax deferred basis in excess of the IRS limits imposed on 401(k) plans. The assets of the plan are held in a consolidated trust and are subject to the claims of the Company's general creditors under federal and state laws in the event of insolvency. Consequently, the trust qualifies as a Rabbi trust for income tax purposes.

As of March 31, 2019, $3.2 million of plan investments and obligations were recorded in other long term assets and in other long term liabilities, respectively, in the condensed consolidated balance sheets, representing the fair value related to the deferred compensation plan. Adjustments to the fair value of the plan investments and obligations are recorded in operating expenses.

Accumulated Other Comprehensive Loss

12 Months Ended

Mar. 31, 2019

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, 2019
	Post-retirement plans			Derivatives designated as cash flow hedges			Totals
Beginning of year	$	(20,955	)	$	5,849		$	(15,106	)
Other comprehensive income (loss) before reclassifications (1)	10,262			(6,945		)	3,317
Amounts reclassified from accumulated other comprehensive loss	1,625			(1,026		)	599
Net current-period other comprehensive income (loss)	11,887			(7,971		)	3,916
End of year	$	(9,068	)	$	(2,122	)	(11,190		)

(1) Changes in other comprehensive income (loss) before reclassification for derivatives designated as cash flow hedges are recorded net of tax benefits of $2.8 million for the fiscal year ended March 31, 2019.



	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 (2)	(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 2017 Tax Act (3)	(3,707		)	856		(2,851		)
End of year	$	(20,955	)	$	5,849	$	(15,106	)

(2) 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.

(3) The amount reclassified from accumulated other comprehensive income to retained earnings from the adoption of ASU 2018-02 in fiscal 2018.



	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	)

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



	March 31,
	2019			2018			2017
Amortization of net actuarial loss included in net periodic benefit cost (See Note 15)
Total before tax	$	2,201		$	2,387		$	3,050
Tax benefit	(576		)	(860		)	(1,202		)
Net of tax	$	1,625		$	1,527		$	1,848

Other Long-Term Liabilities

12 Months Ended

Mar. 31, 2019

Other Liabilities Disclosure [Abstract]

Other Long-Term Liabilities

OTHER LONG-TERM LIABILITIES

Other long-term liabilities consisted of the following:



	March 31,
	2019		2018
Deferred rent	$	78,658	$	79,913
Postretirement benefit obligations	124,925		131,526
Other (1)	27,069		29,382
Total other long-term liabilities	$	230,652	$	240,821

(1) Balances at March 31, 2019 and 2018 primarily include the Company's long-term disability obligation of $11.6 million and $22.8 million, respectively, contingent consideration related to the Company's business acquisition of an acquiree in the fourth quarter of fiscal 2017 of $1.2 million and $3.6 million, respectively and the long-term liability portion of the Company's derivative instruments as noted in Note 13 for the comparative periods. See also Notes 15 and 20, respectively, to our consolidated financial statements.

Stockholders' Equity

12 Months Ended

Mar. 31, 2019

Equity [Abstract]

Stockholders' Equity

STOCKHOLDERS’ EQUITY

Common Stock

Holders of Class A Common Stock are entitled to one vote for each share.

Each share of 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, 2019, 242,706 Class A Common Stock shares were purchased by employees under the ESPP. Since the program's inception, 2,431,993 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, November 2, 2017, and May 24, 2018, the Board of Directors approved increases to the share repurchase authorization to $180.0 million, $410.0 million, $610.0 million, and $910.0 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 2019, the Company purchased 5.1 million shares of the Company’s Class A Common Stock in a series of open market transactions for $239.8 million. 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. As of March 31, 2019, the Company had $258.2 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,
	2019		2018		2017
Recurring dividends (1)	$	114,234	$	103,411	$	92,925
Dividend equivalents (2)	280		951		2,254
Total distributions	$	114,514	$	104,362	$	95,179

(1) Amounts represent recurring quarterly dividends that were declared and paid for during each quarter of fiscal 2019, 2018, and 2017.

(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, 2019

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,
	2019		2018		2017
Cost of revenue	$	8,990	$	7,771	$	5,756
General and administrative expenses	22,285		15,547		15,493
Total	$	31,275	$	23,318	$	21,249

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,
	2019		2018		2017
Equity Incentive Plan Options	$	2,374	$	2,036	$	2,523
Restricted Stock Awards	28,901		21,282		18,726
Total	$	31,275	$	23,318	$	21,249

As of March 31, 2019 and 2018, there was $27.8 million and $17.3 million, respectively, of total unrecognized compensation cost related to unvested stock-based compensation agreements. The unrecognized compensation cost as of March 31, 2019 is expected to be fully amortized over the next 5 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, 2019		March 31, 2018		March 31, 2019	March 31, 2018
Equity Incentive Plan Options	$	3,501	$	2,809	3.61	3.60
Restricted Stock Awards	24,259		14,512		1.75	1.87
Total	$	27,760	$	17,321



	Total Unrecognized Compensation Cost
	Total		2020		2021		2022		2023		2024
Equity Incentive Plan Options	$	3,501	$	1,766	$	1,001	$	541	$	182	$	11
Restricted Stock Awards	24,259		16,662		7,570		27		—		—
Total	$	27,760	$	18,428	$	8,571	$	568	$	182	$	11

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; 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 following table summarizes options granted under the Amended and Restated Equity Incentive Plan, or EIP during fiscal 2019:



Grant Date	Options Granted	Estimated Fair Value per Option Grant		Total Fair Value
May 23, 2018	203,040	$	9.36	$	1,900
July 25, 2018	4,737	10.55		50
July 30, 2018	29,096	10.31		300
October 24, 2018	5,169	9.67		50
November 5, 2018	29,919	10.03		300
November 13, 2018	4,558	10.97		50
November 14, 2018	23,193	10.78		250
January 29, 2019	56,967	9.65		550
	356,679			$	3,450

The aggregate grant date fair value of the EIP Options issued during fiscal 2019 and 2018, was $3.5 million and $3.7 million, respectively, and is being recorded as expense over the vesting period. The total fair value of EIP Options vested during fiscal 2019 and 2018 was $2.5 million and $2.7 million, respectively. The total intrinsic value of EIP options exercised during fiscal 2019 and 2018 was $47.2 million and $36.7 million, respectively. As of March 31, 2019 and 2018, there were 10,708,159 and 11,434,181 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 2019, the Board of Directors granted an aggregate of 610,477 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 44,420 shares of Class A Restricted Common Stock to members of the Board of Directors during fiscal 2019. These awards generally vest over one year.

The aggregate fair value of all awards issued during fiscal 2019 was $27.8 million and was based on the grant date stock price, which ranged from $41.28 to $51.82. 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 2019 and 2018 was $21.5 million and $26.7 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 198,231 shares and recorded them as treasury shares at a total cost of $10.2 million in fiscal 2019.

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 on the date of grant.

During fiscal 2019, the Company’s Board of Directors authorized and declared three quarterly cash dividends of $0.19 per share and one quarterly cash dividend of $0.23 per share. Therefore, an annualized dividend yield between 1.66% and 2.46% 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,
	2019			2018			2017
Dividend yield	2.01		%	1.90		%	1.94		%
Expected volatility	25.83		%	33.04		%	29.65		%
Risk-free interest rate	2.81		%	1.81		%	1.38		%
Expected life (in years)	5.00			5.00			5.00
Weighted-average grant date fair value	$	9.67		$	9.35		$	7.16

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, 2018	957,106	32.36
Granted	654,897	42.40
Vested	637,212	33.80
Forfeited	42,010	37.64
Unvested at March 31, 2019	932,781	38.19

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, 2018	2,799,954	$	18.55	*
Granted	356,679	44.14
Forfeited	45,313	33.96
Expired	—	—
Exercised	1,019,965	11.88
Options outstanding at March 31, 2019	2,091,355	$	25.83	*

* Reflects exercise price adjustment of $6.36 per grant for the $6.50 dividend per share issued on 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, 2018	637,867	$	7.68
Granted	356,679	9.67
Vested	340,620	7.24
Forfeited	45,313	8.47
Unvested at March 31, 2019	608,613	$	9.04

The following table summarizes stock options outstanding at March 31, 2019:



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 - $51.82	2,091,355	$25.83	(1)	5.64	$	67,564	1,482,742	$20.58	4.49	$55,694

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

Commitments and Contingencies

12 Months Ended

Mar. 31, 2019

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 fiscal 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 $82.7 million, net of $0.6 million of sublease income, $81.2 million, net of $0.6 million of sublease income, and $81.6 million, net of $0.5 million of sublease income, for fiscal 2019, 2018, and 2017, 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
2020	$	70,614	$	129
2021	68,888		12
2022	58,325		5
2023	53,463		—
2024	46,222		—
Thereafter	125,399		—
	$	422,911	$	146

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, 2019 and 2018, 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 $9.5 million and $6.3 million, respectively. These letters of credit and bank guarantees primarily support insurance and bid and performance obligations. At March 31, 2019 and 2018, approximately $1.0 million and $1.4 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 $6.5 million and $10.1 million, respectively, was available to the Company at March 31, 2019 and 2018.

Government Contracting Matters

For fiscal 2019, 2018, and 2017, approximately 96%, 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 and subcontracts. 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, 2019 and 2018, the Company has recorded a liability of approximately $195.3 million and $168.6 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, 2019 and 2018, 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. On August 2, 2018, the defendants filed a motion to dismiss the amended complaint. On September 17, 2018, the plaintiff filed an opposition to the defendants’ motion to dismiss the amended complaint. The defendants filed their reply to plaintiff's opposition on October 17, 2018.

As of March 31, 2019, the aggregate alleged damages that will be sought in the remaining suit is unknown. As of March 31, 2019, 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.

Fair Value Measurements

12 Months Ended

Mar. 31, 2019

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, 2019
	Level 1		Level 2		Level 3		Total
Assets:
Current derivative instruments (1)	$	—	$	1,790	$	—	$	1,790
Long-term derivative instruments (1)	—		614		—		614
Long-term deferred compensation costs (2)	3,169		—		—		3,169
Total Assets	$	3,169	$	2,404	$	—	$	5,573
Liabilities:
Contingent consideration liability (3)	$	—	$	—	$	1,224	$	1,224
Current derivative instruments (1)	—		929		—		929
Long-term derivative instruments (1)	—		4,347		—		4,347
Long-term deferred compensation costs (2)	3,169		—		—		3,169
Total Liabilities	$	3,169	$	5,276	$	1,224	$	9,669



	Recurring Fair Value Measurements as of March 31, 2018
	Level 1		Level 2		Level 3		Total
Assets:
Current derivative instruments (1)	$	—	$	700	$	—	$	700
Long-term derivative instruments (1)	—		7,225		—		7,225
Total Assets	$	—	$	7,925	$	—	$	7,925
Liabilities:
Contingent consideration liability (3)	$	—	$	—	$	3,576	$	3,576
Total liabilities	$	—	$	—	$	3,576	$	3,576

(1) 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 13 to our consolidated financial statements for further discussion on the Company’s derivative instruments designated as cash flow hedges.

(2) Investments in this category consist of primarily of mutual funds whose fair values are determined by reference to the quoted market price per unit in active markets multiplied by the number of units held without consideration of transaction costs. These assets represent investments held in a consolidated trust to fund the Company's non-qualified deferred compensation plan and are recorded in other long-term assets and other long-term liabilities on our consolidated balance sheets.

(3) The Company recognized a contingent consideration liability of 3.6 million in connection with the acquisition of Aquilent in fiscal 2017. As of March 31, 2019 and 2018, the estimated fair value of the contingent consideration liability was $1.2 million and $3.6 million, respectively, and was valued using probability-weighted cash flows, which is based on the use of Level 3 fair value measurement inputs. The fair value of the contingent consideration decreased by $2.4 million as the Company finalized the indemnification payments to the selling shareholders. During the third quarter of fiscal 2019, the Company recorded the decrease of payments in other income as a result of the fair value change and the liability is recorded in other long-term liabilities in the consolidated balance sheet.

The fair value of the Company's cash and cash equivalents, which are primarily Level 1 inputs, approximated its carrying values at March 31, 2019 and 2018. The fair value of the Company's debt instruments approximated its carrying value at March 31, 2019 and 2018. 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, 2019
Related Party Transactions [Abstract]
Related-Party Transactions	RELATED-PARTY TRANSACTIONS In March 2018, 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 Company's Board of Directors. The Company has made a binding and irrevocable pledge of $5.0 million to the Booz Allen Foundation, payable in installments, and recorded the pledge obligation in other current liabilities on the consolidated balance sheet of the Company in March 2017. As of March 31, 2019, the Company has satisfied the pledge obligation in full. The final two installment payments made to the Booz Allen Foundation in the third quarter of fiscal 2019 totaling $3.3 million are classified as operating activities in the consolidated statement of cash flows. Two of our directors currently serve on the board of directors of a subcontractor to which the Company subcontracted $55.3 million of services for the year ended March 31, 2019.

Business Segment Information	12 Months Ended
Business Segment Information	Mar. 31, 2019
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, 2019

Quarterly Financial Information Disclosure [Abstract]

Unaudited Quarterly Financial Data

UNAUDITED QUARTERLY FINANCIAL DATA



	Fiscal 2019 Quarters
	First		Second		Third		Fourth
Revenue	$	1,646,848	$	1,613,997	$	1,663,112	$	1,780,080
Operating income	161,612		143,751		161,932		135,099
Income before income taxes	137,367		119,887		140,269		117,880
Net income	104,204		92,713		132,037		89,575
Earnings per common share:
Basic (1)	$	0.72	$	0.65	$	0.92	$	0.64
Diluted (1)	$	0.72	$	0.64	$	0.92	$	0.63



	Fiscal 2018 Quarters
	First		Second		Third		Fourth
Revenue	$	1,523,010	$	1,542,805	$	1,470,709	$	1,631,076
Operating income	126,665		132,889		128,473		131,696
Income before income taxes	106,777		110,593		106,499		106,167
Net income	70,612		73,647		74,927		82,506
Earnings per common share:
Basic (1)	$	0.47	$	0.50	$	0.51	$	0.57
Diluted (1)	$	0.47	$	0.49	$	0.51	$	0.56

(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, 2019

SEC Schedule, 12-09, 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,
	2019			2018			2017
Allowance for doubtful accounts:
Beginning balance	$	77		$	—		$	656
Provision for doubtful accounts	11,882			706			(135		)
Charges against allowance	(1,280		)	(629		)	(521		)
Ending balance	$	10,679		$	77		$	—
Tax valuation allowance
Beginning balance	(1,373		)	—			—
Other adjustments	(1,480		)	(1,373		)	—
Ending balance	$	(2,853	)	(1,373		)	—

Subsequent Events	12 Months Ended
Subsequent Events	Mar. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Interest Rate Swaps Between April 2, 2019 and April 4, 2019, Booz Allen Hamilton entered into eight interest rate swap agreements with six different financial institutions to fix the LIBOR portion of the interest rate on outstanding debt under the Credit Agreement, as amended. Each swap has a notional amount of $50 million and fixes LIBOR at rates ranging from 2.2585% to 2.3075% with an effective date of April 30, 2019 and maturity dates of June 30, 2024 and June 30, 2025. Delayed Draw Facility On April 23, 2019, Booz Allen Hamilton drew down $400 million of the $400 million delayed draw Term Loan A available under the Company’s term loan facility. The Company did not incur any additional fees related to the borrowing of the loans. The Company expects that the proceeds will be used for general corporate purposes and other purposes not prohibited by the Credit Agreement. Shares repurchased and withheld to cover taxes The Company paid $6.3 million during the first quarter of fiscal 2020 for 108,617 shares of Class A Common Stock withheld to cover taxes related to Restricted Stock vesting during the fourth quarter of fiscal 2019 that had not settled in cash by March 31, 2019. Dividend Declared On May 28, 2019, the Company announced that its Board of Directors had declared a quarterly cash dividend of $0.23 per share. Payment of the dividend will be made on June 28, 2019 to stockholders of record at the close of business on June 14, 2019. Share Repurchase Authorization On May 23, 2019, the Board of Directors approved an increase to our share repurchase authorization from $910.0 million to up to $1,310.0 million. As of May 23, 2019, taking into effect the increase in the share repurchase authorization, the Company may repurchase up to approximately $658.2 million of additional shares of common stock under its share repurchase program.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	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.
Reclassification	Certain amounts reported in the Company's prior year consolidated financial statements have been reclassified to conform to the current year presentation.
Accounting Estimates	Accounting Estimates The preparation of consolidated financial statements in conformity with 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, including the accrual of indirect costs, 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	Revenue Recognition The Company's revenues from contracts with customers (clients) are derived from offerings that include consulting, analytics, digital solutions, engineering, and cyber services, substantially with the U.S. government and its agencies, and to a lesser extent, subcontractors. The Company also serves foreign governments, as well as domestic and international commercial clients. The Company performs under various types of contracts, which include cost-reimbursable-plus-fee contracts, time-and-material contracts, and fixed-price contracts. The Company considers a contract with a customer to exist under Topic 606, when there is approval and commitment from both the Company and the customer, the rights of the parties and payment terms are identified, the contract has commercial substance, and collectability of consideration is probable. The Company also will consider whether two or more contracts entered into with the same customer should be combined and accounted for as a single contract. Furthermore, in certain transactions with commercial clients and with the U.S. government, the Company may commence providing services prior to receiving a formal approval from the customer. In these situations, the Company will consider the factors noted above, the risks associated with commencing the work and legal enforceability in determining whether a contract with the customer exists under Topic 606. Customer contracts are often modified to change the scope, price, specifications or other terms within the existing arrangement. Contract modifications are evaluated by management to determine whether the modification should be accounted for as part of the original performance obligation(s) or as a separate contract. If the modification adds distinct goods or services and increases the contract value proportionate to the stand-alone selling price of the additional goods or services, it will be accounted for as a separate contract. Generally, the Company’s contract modifications do not include goods or services which are distinct, and therefore are accounted for as part of the original performance obligation(s) with any impact on transaction price or estimated costs at completion being recorded as through a cumulative catch-up adjustment to revenue. The Company evaluates each service deliverable contracted with the customer to determine whether it represents promises to transfer distinct goods or services. Under Topic 606, these are referred to as performance obligations. One or more service deliverables often represent a single performance obligation. This evaluation requires significant judgment and the impact of combining or separating performance obligations may change the time over which revenue from the contract is recognized. The Company’s contracts generally provide a set of integrated or highly interrelated tasks or services and are therefore accounted for as a single performance obligation. However, in cases where we provide more than one distinct good or service within a customer contract, the contract is separated into individual performance obligations which are accounted for discretely. Contracts with the U.S. government are subject to the Federal Acquisition Regulation ("FAR") and are priced based on estimated or actual costs of providing the goods or services. The Company derives a majority of its revenue from contracts awarded through a competitive bidding process. Pricing for non-U.S. government agencies and commercial customers is based on discrete negotiations with each customer. Certain of the Company’s contracts contain award fees, incentive fees or other provisions that may increase or decrease the transaction price. These variable amounts generally are awarded upon achievement of certain performance metrics, program milestones or cost targets and may be based upon customer discretion. Management estimates variable consideration as the most likely amount that we expect to achieve based on our assessment of the variable fee provisions within the contract, prior experience with similar contracts or clients, and management’s evaluation of the performance on such contracts. The Company may perform work under a contract that has not been fully funded if the work has been authorized by the management and the customer to proceed. The Company evaluates unfunded amounts as variable consideration in estimating the transaction price. We include the estimated variable consideration in our transaction price to the extent that it is probable that a significant reversal of revenue will not occur upon the ultimate settlement of the variable fee provision. In the limited number of situations where our contracts with customers contain more than one performance obligation, the Company allocates the transaction price of a contract between the performance obligations in the proportion to their respective stand-alone selling prices. The Company generally estimates the stand-alone selling price of performance obligations based on an expected cost-plus margin approach as allowed under Topic 606. Our U.S. government contracts generally contain FAR provisions that enable the customer to terminate a contract for default or for the convenience of the U.S. government. The Company recognizes revenue for each performance obligation identified within our customer contracts when, or as, the performance obligation is satisfied by transferring the promised goods or services. Revenue may either be recognized over time, or at a point in time. The Company generally recognizes revenue over time as our contracts typically involve a continuous transfer of control to the customer. A continuous transfer of control under contracts with the U.S. government and its agencies is evidenced by clauses which require the Company to be paid for costs incurred plus a reasonable margin in the event that the customer unilaterally terminates the contract for convenience. For contracts where the Company recognizes revenue over time, a contract cost-based input method is generally used to measure progress towards satisfaction of the underlying performance obligation(s). Contract costs include direct costs such as materials, labor and subcontract costs, as well as indirect costs identifiable with, or allocable to, a specific contract that are expensed as incurred. The Company does not incur material incremental costs to acquire or fulfill contracts. Under a contract cost-based input method, revenue is recognized based on the proportion of contract costs incurred to the total estimated costs expected to be incurred upon completion of the underlying performance obligation. The Company includes generally both funded and unfunded portions of customer contracts in this estimation process. For interim financial reporting periods, contract revenue attributable to indirect costs is recognized based upon 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 identified. This change relates to the interim financial reporting period differences between the actual indirect cost incurred and allocated to customer contracts compared to the estimated amounts allocated to contracts using the estimated annual forward-pricing rates established with the U.S. government. On certain contracts, principally time-and-materials and cost-reimbursable-plus-fee contracts, revenue is recognized using the right-to-invoice practical expedient as the Company is contractually able to invoice the customer based on the control transferred. However, we did not elect to use the practical expedient which would allow the Company to exclude contracts recognized using the right-to-invoice practical expedient from the remaining performance obligations disclosed below. Additionally, for stand-ready performance obligations to provide services under fixed-price contracts, revenue is recognized over time using a straight-line measure of progress as the control of the services is provided to the customer ratably over the term of the contract. If a contract does not meet the criteria for recognition of revenue over time, we recognize revenue at the point in time when control of the good or service is transferred to the customer. Determining a measure of progress towards the satisfaction of performance obligations requires management to make judgments that may affect the timing of revenue recognition. In addition to the right-to-invoice practical expedient discussed above, the Company applied certain other practical expedients permitted by Topic 606, which include: a) using the portfolio approach where contracts with similar characteristics were assessed collectively to evaluate risk of being impacted by the adoption of Topic 606; b) applying the practical expedient allowing the Company to not restate completed contracts which began and ended in the same fiscal year prior to the date of the initial adoption; and c) electing to omit the disclosure related to remaining performance obligations for reporting periods presented before the date of the initial adoption. Many of our contracts recognize revenue under a contract cost-based input method and require an Estimate-at-Completion (EAC) process, which management uses to review and monitor the progress towards the completion of our performance obligations. Under this process, management considers various inputs and assumptions related to the EAC, including, but not limited to, progress towards completion, labor costs and productivity, material and subcontractor costs, and identified risks. Estimating the total cost at completion of performance obligations is subjective and requires management to make assumptions about future activity and cost drivers under the contract. Changes in these estimates can occur for a variety of reasons and, if significant, may impact the profitability of the Company’s contracts. Changes in estimates related to contracts accounted for under the EAC process are recognized in the period when such changes are made on a cumulative catch-up basis. If the estimate of contract profitability indicates an anticipated loss on a contract, the Company recognizes the total loss at the time it is identified. For fiscal years ended March 31, 2019, 2018 and 2017, the aggregate impact of adjustments in contract estimates was not material. Remaining performance obligations represent the transaction price of exercised contracts for which work has not yet been performed, irrespective of whether funding has or has not been authorized and appropriated as of the date of exercise. Remaining performance obligations do not include negotiated but unexercised options or the unfunded value of expired contracts.
Cash and Cash Equivalents	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 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	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	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 Property and equipment are recorded at cost, and the balances are presented net of accumulated depreciation. 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, and computer equipment is depreciated over four 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	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.
Intangible Assets	Intangible Assets Intangible assets primarily consist of the Company's trade name, customer relationships, software and other amortizable intangible assets. The Company capitalizes the following costs associated with developing internal-use computer software pertaining to upgrades in our business and financial systems: (i) external direct costs of materials and services consumed in developing or obtaining internal-use computer software and (ii) certain payroll and payroll-related costs for Company employees who are directly associated with the development of internal-use software, to the extent of the time spent directly on the project. 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. Software purchased or developed for internal use is amortized over three to six 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.
Goodwill	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, 2019, 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.
Long-Lived Assets	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.
Income Taxes	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.
Comprehensive Income	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.
Share-Based Payments	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	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	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 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.
Recently Adopted Accounting Standards and Recent Accounting Pronouncements Not Yet Adopted	Recent Accounting Pronouncements Not Yet Adopted In August 2018, the FASB issued ASU No. 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. This guidance requires a customer in a cloud computing arrangement that is a service contract to follow existing internal-use software guidance to determine which implementation costs to defer and recognize as an asset. ASU 2018-15 generally aligns the guidance on capitalizing implementation costs incurred in a cloud computing arrangement that is a service contract with that of implementation costs incurred to develop or obtain internal-use software, including hosting arrangements that include an internal-use software license. ASU 2018-15 is effective for interim reporting periods for fiscal years beginning after December 15, 2019. Early adoption is permitted. The standard may be adopted either retrospectively or prospectively. The Company is currently assessing the future impact of this update on its consolidated financial statements and related disclosures. 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. In July 2018, the FASB provided an alternative transition method of adoption through ASU No. 2018-11, Targeted Improvements, which permits the recognition of a cumulative-effect adjustment to retained earnings on the date of adoption. The Company will adopt the standard beginning in fiscal 2020 using the modified retrospective transition approach, specifically, using the alternative transition method provided by ASU 2018-11. A dedicated implementation team has substantially completed its evaluation of the impact of the new standard. The Company's assessment efforts to date have included reviewing the provisions of Topic 842, gathering information to evaluate its lease population and portfolio, evaluating the nature of real and personal property and other arrangements that may meet the definition of a lease, designing and implementing one-time implementation controls as well as new post-adoption lease processes and controls, implementing a new lease accounting software solution, and evaluating certain accounting policy elections. As a result of our evaluation, the Company identified changes to and modified certain of our accounting policies and practices. While some modifications were complex to design and test, the effect of such changes are not expected to be significant upon adoption of Topic 842. The Company will elect certain practical expedients provided under Topic 842, including the option not to apply lease recognition for short–term leases; an election to not separate lease from non-lease components; and a package of practical expedients such that, upon the initial adoption of Topic 842, the Company will not reassess whether expired or existing contracts contain leases, nor will the Company reassess the lease classification for expired or existing leases. The Company expects that upon adoption it will recognize a material right-of-use asset of approximately $270 million and a lease liability of approximately $330 million on the balance sheet, which is inclusive of required conforming balance sheet reclassifications. The Company does not expect the standard to have any other material impact on the consolidated financial statements or results of operations. Adoption of the standard is not expected to impact the Company’s ability to comply with the financial covenants as defined in the Credit Agreement discussed further in Note 12. The Company is continuing to refine its processes in order to meet the accounting and disclosure requirements upon adoption of Topic 842 in the first quarter of fiscal 2020. Other recent accounting pronouncements issued during fiscal 2019 and through the filing date are not expected to have a material impact on the Company's present or historical consolidated financial statements. Recently Adopted Accounting Standards In March 2019, the SEC issued its Final Rule Release No. 33-10618, FAST Act Modernization and Simplification of Regulation S-K. The guidance in this Release revises certain disclosure requirements in SEC Regulation S-K, with the intent of improving the readability of filed documents and simplifying registrants' compliance efforts. The Company adopted certain aspects of this Release in the fourth quarter of fiscal 2019 which did not have a material impact on the consolidated financial statements. Other aspects not yet adopted are still being evaluated but are not expected to be material. The Company completed its assessment for the tax effects of the Tax Cuts and Jobs Act, or the 2017 Tax Act, under the guidance of Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act, or SAB 118, during the third quarter of fiscal 2019. The Company recorded adjustments to previously recognized provisional estimates primarily related to the re-measurement effects on certain deferred tax balances. The completion of its assessment resulted in a reduction in the provision for income taxes during the third quarter of fiscal 2019. See Note 14 to the consolidated financial statements for further information regarding the impact of the 2017 Tax Act on fiscal 2019. In August 2018, the SEC adopted the final rule under SEC Release No. 33-10532, Disclosure Update and Simplification, amending certain disclosure requirements that were redundant, duplicative, overlapping, outdated or superseded. In addition, the amendments expanded the disclosure requirements on the analysis of stockholders' equity for interim financial statements. Under the amendments, an analysis of changes in each caption of stockholders' equity presented in the balance sheet must be provided in a note or separate statement. The amendments set forth certain presentation requirements, including that such analysis should present a reconciliation of the beginning balance to the ending balance of each period for which a statement of comprehensive income is required to be filed with all significant reconciling items described by appropriate captions with contributions from and distributions to owners shown separately. The amendments became effective on November 5, 2018 and did not have a material effect on the Company's consolidated financial statements for fiscal 2019. According to the SEC’s Questions and Answers of General Applicability Question 105.09 dated September 25, 2018 and updated October 4, 2018, the SEC would not object if the filer’s first presentation of the changes in stockholders’ equity is included in its Form 10-Q for the quarter that begins after the effective date of the amendments. The Company will first present such changes beginning with the first quarter of fiscal 2020. In August 2018, the FASB issued ASU 2018-14, Compensation -Retirement Benefits -Defined Benefit Plans -General (Topic 715-20) - Disclosure Framework -Changes to the Disclosure Requirement for Defined Benefit Plans. This guidance is designed to improve the effectiveness of disclosures by removing and adding disclosures related to defined benefit plans. ASU 2018-14 is effective for reporting periods beginning after December 15, 2020 with early adoption permitted. In the fourth quarter of fiscal 2019 the Company early adopted this standard and adoption of this standard did not have a material impact on the consolidated financial statements. 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. In the fourth quarter of fiscal 2019 the Company early adopted this standard using the modified retrospective approach. The adoption of this standard did not have a material impact on the consolidated financial statements. In May 2014, the Financial Accounting Standards Board, or FASB, issued Accounting Standard Codification No. 606, Revenue from Contracts with Customers (Topic 606). Topic 606, as amended, replaced existing revenue recognition standards by outlining a single set of comprehensive principles for recognizing revenue. The revenue standard also significantly expanded 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 adopted the new revenue standard using the full retrospective transition method, which requires that it be applied to each prior reporting period presented and that the cumulative effect of applying the standard be recognized at the earliest period presented (i.e., April 1, 2016, 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 as of the date of adoption. The cumulative impact on our retained earnings for the earliest period presented of April 1, 2016 was an increase of $2.9 million. Thereafter, the adoption of Topic 606 increased our fiscal 2017 retained earnings by $8.4 million and decreased our fiscal 2018 retained earnings by $3.4 million, resulting in a cumulative impact on our retained earnings of$7.9 million as of April 1, 2018. The impact of Topic 606 on fiscal 2017 and 2018 results may not be representative of the impact on subsequent years’ results. The Company also retrospectively adopted ASU 2017-07, which changed the presentation of net periodic benefit cost components on the condensed consolidated statement of operations. Under this guidance, the service cost component of net periodic benefit cost continues to be presented consistent with other employee compensation costs and within operating income, while the remaining components of net periodic benefit costs are excluded from operating income. As a result, net periodic benefit costs related to non-service components were reclassified to Other income (expense), net in the consolidated statement of operations for fiscal 2018 and 2017.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Mar. 31, 2019

Accounting Policies [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The Company's previously issued consolidated financial statements have been adjusted for the retrospective adoption of both Topic 606 and ASU 2017-07, as summarized in the following table:



	Fiscal Year Ended March 31, 2018								Fiscal Year Ended March 31, 2017
	Effect of Adoption								Effect of Adoption
	As Reported		Topic 606			ASU 2017-07	As Adjusted		As Reported		Topic 606		ASU 2017-07	As Adjusted
Revenue	$	6,171,853	$	(4,253	)	—	$	6,167,600	$	5,804,284	$	5,207	—	$	5,809,491
Operating income	520,085		(7,968		)	7,606	519,723		484,247		13,757		8,010	506,014
Income before income taxes	438,004		(7,968		)	—	430,036		411,900		13,757		—	425,657
Net income	305,111		(3,419		)	—	$	301,692	252,490		8,335		—	260,825
Earnings per common share (Note 4):
Basic	$	2.08	$	(0.03	)	—	$	2.05	$	1.69	$	0.05	—	$	1.74
Diluted	$	2.05	$	(0.02	)	—	$	2.03	$	1.67	$	0.05	—	$	1.72

Revenue (Tables)

12 Months Ended

Mar. 31, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The table below presents the total revenue for each type of contract:



	Fiscal Year Ended March 31,
	2019			2018			2017
Cost-reimbursable	$	3,580,595	53%	$	3,155,049	51%	$	2,882,178	50%
Time-and-materials	1,576,673		24%	1,542,899		25%	1,500,851		26%
Fixed-price	1,546,769		23%	1,469,652		24%	1,426,462		24%
Total Revenue	$	6,704,037	100%	$	6,167,600	100%	$	5,809,491	100%

Revenue by Customer Type:



	Fiscal Year Ended March 31,
	2019			2018			2017
U.S. government:
Defense Clients	$	3,114,571	47%	$	2,830,102	46%	$	2,699,284	46%
Intelligence Clients	1,566,870		23%	1,494,489		24%	1,344,906		23%
Civil Clients	1,760,996		26%	1,644,860		27%	1,611,309		28%
Total U.S. government	6,442,437		96%	5,969,451		97%	5,655,499		97%
Global Commercial Clients	261,600		4%	198,149		3%	153,992		3%
Total Revenue	$	6,704,037	100%	$	6,167,600	100%	$	5,809,491	100%

Revenue by Whether the Company Acts as a Prime Contractor or a Sub-Contractor:



	Fiscal Year Ended March 31,
	2019			2018			2017
Prime Contractor	$	6,159,918	92%	$	5,626,544	91%	$	5,261,499	91%
Sub-contractor	544,119		8%	541,056		9%	547,992		9%
Total Revenue	$	6,704,037	100%	$	6,167,600	100%	$	5,809,491	100%

Contract with Customer, Asset and Liability

The following table summarizes the contract balances recognized on the Company’s consolidated balance sheets:



	March 31, 2019		March 31, 2018
Contract assets:
Current	$	846,372	$	738,646
Long-term	61,391		59,633
Total	907,763		798,279
Contract liabilities:
Advance payments, billings in excess of costs incurred and deferred revenue	$	21,316	$	27,522

Earnings Per Share (Tables)

12 Months Ended

Mar. 31, 2019

Earnings Per Share [Abstract]

Reconciliation of 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,
	2019		2018		2017
Earnings for basic computations (1)	$	416,664	$	299,824	$	258,495
Weighted-average Class A Common Stock outstanding	141,910,799		145,964,574		148,218,968
Total weighted-average common shares outstanding for basic computations	141,910,799		145,964,574		148,218,968
Earnings for diluted computations (1)	$	416,675	$	299,837	$	258,514
Dilutive stock options and restricted stock	1,245,377		1,785,448		2,055,672
Average number of common shares outstanding for diluted computations	143,156,176		147,750,022		150,274,640
Earnings per common share
Basic	$	2.94	$	2.05	$	1.74
Diluted	$	2.91	$	2.03	$	1.72

Acquisitions (Tables)

12 Months Ended

Mar. 31, 2019

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, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Intangible Assets

Intangible assets consisted of the following:



		March 31, 2019						March 31, 2018
	Weighted Average remaining period of amortization	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
	(in years)
Amortizable intangible assets:
Customer relationships and other amortizable intangible assets	8.8	$	115,814	$	60,762	$	55,052	$	115,808	$	45,036	$	70,772
Software	3.7	88,338		46,539		41,799		59,051		41,519		17,532
Total amortizable intangible assets	7.5	$	204,152	$	107,301	$	96,851	$	174,859	$	86,555	$	88,304
Unamortizable intangible assets:
Trade name		$	190,200	$	—	$	190,200	$	190,200	$	—	$	190,200
Total		$	394,352	$	107,301	$	287,051	$	365,059	$	86,555	$	278,504

Summary of Expected Amortization Expense for Intangible Assets



For the Fiscal Year Ended March 31,
2020	$	18,863
2021	15,421
2022	11,433
2023	9,667
2024	6,401
Thereafter	12,532
Total estimated amortization expense	$	74,317

Accounts Receivable, Net of Allowance (Tables)

12 Months Ended

Mar. 31, 2019

Receivables [Abstract]

Summary of Accounts Receivable, Net

Accounts receivable, net of allowance consisted of the following:



	March 31,
	2019			2018
Current assets:
Accounts receivable–billed	$	494,671		$	395,136
Accounts receivable–unbilled	846,372			738,646
Allowance for doubtful accounts	(10,679		)	(77		)
Accounts receivable, net of allowance	1,330,364			1,133,705
Other long-term assets:
Accounts receivable–unbilled	61,391			59,633
Total accounts receivable, net	$	1,391,755		$	1,193,338

Property and Equipment, Net (Tables)

12 Months Ended

Mar. 31, 2019

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,
	2019			2018
Furniture and equipment	$	174,298		$	164,061
Computer equipment	96,028			79,629
Leasehold improvements	225,310			202,133
Total	495,636			445,823
Less: Accumulated depreciation and amortization	(323,183		)	(293,459		)
Property and equipment, net	$	172,453		$	152,364

Accounts Payable and Other Accrued Expenses (Tables)

12 Months Ended

Mar. 31, 2019

Payables and Accruals [Abstract]

Schedule of Accounts Payable and Other Accrued Expenses

Accounts payable and other accrued expenses consisted of the following:



	March 31,
	2019		2018
Vendor payables	$	417,648	$	339,993
Accrued expenses	247,300		217,566
Total accounts payable and other accrued expenses	$	664,948	$	557,559

Accrued Compensation and Benefits (Tables)

12 Months Ended

Mar. 31, 2019

Schedule of Accrued Compensation and Benefits

Accrued compensation and benefits consisted of the following:



	March 31,
	2019		2018
Bonus	$	117,604	$	87,817
Retirement	37,678		35,743
Vacation	141,953		131,519
Other	28,318		27,671
Total accrued compensation and benefits	$	325,553	$	282,750

Deferred Payment Obligation (Tables)

12 Months Ended

Mar. 31, 2019

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,
	2019		2018
Deferred payment obligation:	$	80,000	$	80,000
Accrued interest	1,304		1,311
Amount recorded in the consolidated balance sheet	$	81,304	$	81,311

Debt (Tables)

12 Months Ended

Mar. 31, 2019

Debt Disclosure [Abstract]

Schedule of Debt

Debt consisted of the following:



	March 31, 2019					March 31, 2018
	Interest Rate		Outstanding Balance			Interest Rate		Outstanding Balance
Term Loan A	4.00	%	$	1,037,713		3.88	%	$	1,094,275
Term Loan B	4.50	%	391,050			3.88	%	395,000
Senior Notes	5.13	%	350,000			5.13	%	350,000
Less: Unamortized debt issuance costs and discount on debt			(19,002		)			(20,696		)
Total			1,759,761					1,818,579
Less: Current portion of long-term debt			(57,924		)			(63,100		)
Long-term debt, net of current portion			$	1,701,837				$	1,755,479

Schedule of Future Debt Principal Repayments

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



	Payments Due By March 31,
	Total	2020	2021	2022	2023	2024	Thereafter
Term Loan A	$1,037,713	$53,974	$53,974	$53,974	$53,974	$821,817	—
Term Loan B	391,050	3,950	3,950	3,950	3,950	375,250	—
Senior Notes	350,000	—	—	—	—	—	350,000
Total	$1,778,763	$57,924	$57,924	$57,924	$57,924	$1,197,067	$350,000

Schedule of Interest Expense

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



	Fiscal Year Ended March 31,
	2019			2018		2017
Term Loan A Interest Expense	$	42,043		$	37,575	$	28,646
Term Loan B Interest Expense	16,765			14,138		18,874
Interest on Revolving Credit Facility	115			271		751
Senior Notes Interest Expense	17,938			16,742		—
Deferred Payment Obligation Interest (1)	7,993			7,993		7,985
Amortization of Debt Issuance Costs (DIC) and Original Issue Discount (OID) (2)	5,052			5,361		5,683
Other	(389		)	189		359
Total Interest Expense	$	89,517		$	82,269	$	62,298

(1) Interest payments on the deferred payment obligation are made twice a year in January and July. See Note 11 to our consolidated financial statements.

Derivatives (Tables)

12 Months Ended

Mar. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

The effect of derivative instruments on the accompanying consolidated financial statements for fiscal years ended March 31, 2019 and 2018 is as follows:



Derivatives in Cash Flow Hedging Relationships	Amount of Gain or (Loss) Recognized in AOCI on Derivative					Location of Gain or Loss Recognized in Income on Derivative	Amount of Gain or (Loss) Reclassified from AOCI into Income				Interest Expense on Consolidated Statements of Operations
	2019			2018		Location of Gain or Loss Recognized in Income on Derivative	2019		2018		2019			2018
Interest rate swaps	$	(9,772	)	$	7,926	Interest expense	$	1,026	$	—	$	(89,517	)	$	(82,269	)

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
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+ Details

Income Taxes (Tables)

12 Months Ended

Mar. 31, 2019

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,
	2019			2018			2017
Current
U.S. Federal	$	34,019		$	89,300		$	115,727
State and local	26,232			20,074			24,273
Foreign	13,617			10,014			3,874
Total current	73,868			119,388			143,874
Deferred
U.S. Federal	23,258			11,356			22,939
State and local	(252		)	(2,400		)	(1,981		)
Foreign	—			—			—
Total deferred	23,006			8,956			20,958
Total	$	96,874		$	128,344		$	164,832

Schedule of Effective Income Tax Rate Reconciliation



	Fiscal Year Ended March 31,
	2019			2018			2017
Income tax expense computed at U.S. federal statutory rate ⁽¹⁾	$	108,235		$	135,667		$	148,980

Increases (reductions) resulting from:
Changes in uncertain tax positions	(278		)	140			(92		)
State and local income taxes, net of federal tax	22,450			14,565			13,882
Foreign income taxes, net of federal tax	10,758			6,855			2,518
Meals and entertainment	1,771			2,247			1,328
Re-measurement of deferred taxes related to the Act	(27,908		)	(9,107		)	—
Excess tax benefits from stock-based compensation	(10,777		)	(14,457		)	—
Federal tax credits	(6,355		)	(6,563		)	(4,402		)
Executive compensation -162(M)	2,615			345			294
IRS audit settlement	(2,573		)	—			—
Other	(1,064		)	(1,348		)	2,324
Income tax expense from operations	$	96,874		$	128,344		$	164,832

(1) The U.S. federal statutory income tax rates for fiscal 2019, 2018 and 2017 are 21%, 31.5% and 35%, respectively.

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,
	2019			2018
Deferred income tax assets:
Accrued expenses	$	59,569		$	53,322
Deferred compensation	32,765			28,326
Stock-based compensation	6,265			7,785
Pension and postretirement benefits	32,697			34,449
Net operating loss carryforwards	4,570			3,362
Deferred rent and tenant allowance	24,565			20,931
Extended disability benefits	3,041			5,963
Interest rate swaps	752			—
State tax credits	13,420			9,822
Other	3,804			1,184
Total gross deferred income tax assets	181,448			165,144
Less: Valuation allowance	(2,853		)	(1,373		)
Total net deferred income tax assets	178,595			163,771
Deferred income tax liabilities:
Unbilled receivables	(138,944		)	(108,287		)
Intangible assets	(60,694		)	(57,020		)
Debt issuance costs	(3,146		)	(3,264		)
Property and equipment	(926		)	(398		)
Interest rate swaps	—			(2,076		)
Internally developed software	(8,123		)	—
Total deferred income tax liabilities	(211,833		)	(171,045		)
Net deferred income tax asset (liability)	$	(33,238	)	$	(7,274	)

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,
	2019			2018			2017
Beginning of year	$	11,608		$	11,588		$	1,449
Increases in prior year position	93			41			127
Increases in current year position	575			—			10,278
Settlements with taxing authorities	(731		)	—			—
Lapse of statute of limitations	(462		)	(21		)	(266		)
End of year	$	11,083		$	11,608		$	11,588

Employee Benefit Plans (Tables)

12 Months Ended

Mar. 31, 2019

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,
	2019		2018		2017
Service cost	$	5,952	$	4,464	$	4,851
Interest cost	5,130		5,008		4,782
Net actuarial loss	2,108		2,271		3,052
Total postretirement medical expense	$	13,190	$	11,743	$	12,685

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,
	2019		2018		2017
Officer Medical Plan	4.10	%	4.10	%	4.30	%
Retired Officers’ Bonus Plan	4.10	%	4.10	%	4.30	%
Retired Vice Presidents' Bonus Plan	4.10	%	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, 2019 and 2018 were as follows:



Pre-65 initial rate	2019		2018
Healthcare cost trend rate assumed for next year	7.50	%	7.75	%
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		2027



Post-65 initial rate	2019		2018
Healthcare cost trend rate assumed for next year	7.75	%	8.00	%
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		2027

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,
	2019			2018			2017
Benefit obligation, beginning of the year	$	126,886		$	118,089		$	114,008
Service cost	5,952			4,464			4,851
Interest cost	5,130			5,008			4,782
Net actuarial (gain) loss	(13,885		)	2,744			(2,219		)
Benefits paid	(3,742		)	(3,419		)	(3,333		)
Benefit obligation, end of the year	$	120,341		$	126,886		$	118,089

Schedule of Change in Fair Value of Plan Assets



	Fiscal Year Ended March 31,
Changes in plan assets	2019			2018			2017
Fair value of plan assets, beginning of the year	$	—		$	—		$	—
Employer contributions	3,742			3,419			3,333
Benefits paid	(3,742		)	(3,419		)	(3,333		)
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,
2020	$	3,688
2021	$	4,013
2022	$	4,403
2023	$	5,231
2024	$	5,743
2025 - 2029	$	34,061

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Mar. 31, 2019

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, 2019
	Post-retirement plans			Derivatives designated as cash flow hedges			Totals
Beginning of year	$	(20,955	)	$	5,849		$	(15,106	)
Other comprehensive income (loss) before reclassifications (1)	10,262			(6,945		)	3,317
Amounts reclassified from accumulated other comprehensive loss	1,625			(1,026		)	599
Net current-period other comprehensive income (loss)	11,887			(7,971		)	3,916
End of year	$	(9,068	)	$	(2,122	)	(11,190		)



	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 (2)	(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 2017 Tax Act (3)	(3,707		)	856		(2,851		)
End of year	$	(20,955	)	$	5,849	$	(15,106	)

(3) The amount reclassified from accumulated other comprehensive income to retained earnings from the adoption of ASU 2018-02 in fiscal 2018.



	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	)

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,
	2019			2018			2017
Amortization of net actuarial loss included in net periodic benefit cost (See Note 15)
Total before tax	$	2,201		$	2,387		$	3,050
Tax benefit	(576		)	(860		)	(1,202		)
Net of tax	$	1,625		$	1,527		$	1,848

Other Long-Term Liabilities (Tables)

12 Months Ended

Mar. 31, 2019

Other Liabilities Disclosure [Abstract]

Schedule of Other Long-Term Liabilities

Other long-term liabilities consisted of the following:



	March 31,
	2019		2018
Deferred rent	$	78,658	$	79,913
Postretirement benefit obligations	124,925		131,526
Other (1)	27,069		29,382
Total other long-term liabilities	$	230,652	$	240,821

Stockholders Equity (Tables)

12 Months Ended

Mar. 31, 2019

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,
	2019		2018		2017
Recurring dividends (1)	$	114,234	$	103,411	$	92,925
Dividend equivalents (2)	280		951		2,254
Total distributions	$	114,514	$	104,362	$	95,179

(1) Amounts represent recurring quarterly dividends that were declared and paid for during each quarter of fiscal 2019, 2018, and 2017.

(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, 2019

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,
	2019		2018		2017
Cost of revenue	$	8,990	$	7,771	$	5,756
General and administrative expenses	22,285		15,547		15,493
Total	$	31,275	$	23,318	$	21,249

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,
	2019		2018		2017
Equity Incentive Plan Options	$	2,374	$	2,036	$	2,523
Restricted Stock Awards	28,901		21,282		18,726
Total	$	31,275	$	23,318	$	21,249

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, 2019		March 31, 2018		March 31, 2019	March 31, 2018
Equity Incentive Plan Options	$	3,501	$	2,809	3.61	3.60
Restricted Stock Awards	24,259		14,512		1.75	1.87
Total	$	27,760	$	17,321



	Total Unrecognized Compensation Cost
	Total		2020		2021		2022		2023		2024
Equity Incentive Plan Options	$	3,501	$	1,766	$	1,001	$	541	$	182	$	11
Restricted Stock Awards	24,259		16,662		7,570		27		—		—
Total	$	27,760	$	18,428	$	8,571	$	568	$	182	$	11

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, 2018	2,799,954	$	18.55	*
Granted	356,679	44.14
Forfeited	45,313	33.96
Expired	—	—
Exercised	1,019,965	11.88
Options outstanding at March 31, 2019	2,091,355	$	25.83	*

* Reflects exercise price adjustment of $6.36 per grant for the $6.50 dividend per share issued on 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, 2018	637,867	$	7.68
Granted	356,679	9.67
Vested	340,620	7.24
Forfeited	45,313	8.47
Unvested at March 31, 2019	608,613	$	9.04

The following table summarizes stock options outstanding at March 31, 2019:



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 - $51.82	2,091,355	$25.83	(1)	5.64	$	67,564	1,482,742	$20.58	4.49	$55,694

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

The following table summarizes options granted under the Amended and Restated Equity Incentive Plan, or EIP during fiscal 2019:



Grant Date	Options Granted	Estimated Fair Value per Option Grant		Total Fair Value
May 23, 2018	203,040	$	9.36	$	1,900
July 25, 2018	4,737	10.55		50
July 30, 2018	29,096	10.31		300
October 24, 2018	5,169	9.67		50
November 5, 2018	29,919	10.03		300
November 13, 2018	4,558	10.97		50
November 14, 2018	23,193	10.78		250
January 29, 2019	56,967	9.65		550
	356,679			$	3,450

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,
	2019			2018			2017
Dividend yield	2.01		%	1.90		%	1.94		%
Expected volatility	25.83		%	33.04		%	29.65		%
Risk-free interest rate	2.81		%	1.81		%	1.38		%
Expected life (in years)	5.00			5.00			5.00
Weighted-average grant date fair value	$	9.67		$	9.35		$	7.16

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, 2018	957,106	32.36
Granted	654,897	42.40
Vested	637,212	33.80
Forfeited	42,010	37.64
Unvested at March 31, 2019	932,781	38.19

Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2019

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, 2019
	Level 1		Level 2		Level 3		Total
Assets:
Current derivative instruments (1)	$	—	$	1,790	$	—	$	1,790
Long-term derivative instruments (1)	—		614		—		614
Long-term deferred compensation costs (2)	3,169		—		—		3,169
Total Assets	$	3,169	$	2,404	$	—	$	5,573
Liabilities:
Contingent consideration liability (3)	$	—	$	—	$	1,224	$	1,224
Current derivative instruments (1)	—		929		—		929
Long-term derivative instruments (1)	—		4,347		—		4,347
Long-term deferred compensation costs (2)	3,169		—		—		3,169
Total Liabilities	$	3,169	$	5,276	$	1,224	$	9,669



	Recurring Fair Value Measurements as of March 31, 2018
	Level 1		Level 2		Level 3		Total
Assets:
Current derivative instruments (1)	$	—	$	700	$	—	$	700
Long-term derivative instruments (1)	—		7,225		—		7,225
Total Assets	$	—	$	7,925	$	—	$	7,925
Liabilities:
Contingent consideration liability (3)	$	—	$	—	$	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, 2019

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
2020	$	70,614	$	129
2021	68,888		12
2022	58,325		5
2023	53,463		—
2024	46,222		—
Thereafter	125,399		—
	$	422,911	$	146

Unaudited Quarterly Financial Data (Tables)

12 Months Ended

Mar. 31, 2019

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Financial Information



	Fiscal 2019 Quarters
	First		Second		Third		Fourth
Revenue	$	1,646,848	$	1,613,997	$	1,663,112	$	1,780,080
Operating income	161,612		143,751		161,932		135,099
Income before income taxes	137,367		119,887		140,269		117,880
Net income	104,204		92,713		132,037		89,575
Earnings per common share:
Basic (1)	$	0.72	$	0.65	$	0.92	$	0.64
Diluted (1)	$	0.72	$	0.64	$	0.92	$	0.63



	Fiscal 2018 Quarters
	First		Second		Third		Fourth
Revenue	$	1,523,010	$	1,542,805	$	1,470,709	$	1,631,076
Operating income	126,665		132,889		128,473		131,696
Income before income taxes	106,777		110,593		106,499		106,167
Net income	70,612		73,647		74,927		82,506
Earnings per common share:
Basic (1)	$	0.47	$	0.50	$	0.51	$	0.57
Diluted (1)	$	0.47	$	0.49	$	0.51	$	0.56

(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, 2019

SEC Schedule, 12-09, 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,
	2019			2018			2017
Allowance for doubtful accounts:
Beginning balance	$	77		$	—		$	656
Provision for doubtful accounts	11,882			706			(135		)
Charges against allowance	(1,280		)	(629		)	(521		)
Ending balance	$	10,679		$	77		$	—
Tax valuation allowance
Beginning balance	(1,373		)	—			—
Other adjustments	(1,480		)	(1,373		)	—
Ending balance	$	(2,853	)	(1,373		)	—

Business Overview (Details)	12 Months Ended
Business Overview (Details)	Mar. 31, 2019 employee segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments \| segment	1
Number of employees \| employee	26,100

Summary of Significant Accounting Policies - Property, Plant and Equipment (Details) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
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

Summary of Significant Accounting Policies - Intangible Assets and Goodwill (Details) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Impairment charge on intangibles	$ 0	$ 0	$ 3,800,000
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
Software \| Minimum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)	3 years
Software \| Maximum
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible asset, useful life (in years)	6 years

Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2019	Mar. 31, 2019	Mar. 31, 2017	Apr. 01, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) in retained earnings	$ 690,516		$ 994,811
Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect on retained earnings	7,900
Accounting Standards Update 2016-02 \| Scenario, Forecast
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right-of-use asset		$ 270,000
Operating lease liability		$ 330,000
Restatement Adjustment \| Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase (decrease) in retained earnings	$ (3,400)			$ 8,400	$ 2,900

Summary of Significant Accounting Policies - Schedule of Effect of Adoption (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue	$ 1,780,080	$ 1,663,112	$ 1,613,997	$ 1,646,848	$ 1,631,076	$ 1,470,709	$ 1,542,805	$ 1,523,010	$ 6,704,037	$ 6,167,600	$ 5,809,491
Operating income	135,099	161,932	143,751	161,612	131,696	128,473	132,889	126,665	602,394	519,723	506,014
Income before income taxes	117,880	140,269	119,887	137,367	106,167	106,499	110,593	106,777	515,403	430,036	425,657
Net income	$ 89,575	$ 132,037	$ 92,713	$ 104,204	$ 82,506	$ 74,927	$ 73,647	$ 70,612	$ 418,529	$ 301,692	$ 260,825
Basic (in dollars per share)	$ 0.64	$ 0.92	$ 0.65	$ 0.72	$ 0.57	$ 0.51	$ 0.50	$ 0.47	$ 2.94	$ 2.05	$ 1.74
Diluted (in dollars per share)	$ 0.63	$ 0.92	$ 0.64	$ 0.72	$ 0.56	$ 0.51	$ 0.49	$ 0.47	$ 2.91	$ 2.03	$ 1.72
Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue										$ 6,171,853	$ 5,804,284
Operating income										520,085	484,247
Income before income taxes										438,004	411,900
Net income										$ 305,111	$ 252,490
Basic (in dollars per share)										$ 2.08	$ 1.69
Diluted (in dollars per share)										$ 2.05	$ 1.67
Accounting Standards Update 2014-09 \| Restatement Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Revenue										$ (4,253)	$ 5,207
Operating income										(7,968)	13,757
Income before income taxes										(7,968)	13,757
Net income										$ (3,419)	$ 8,335
Basic (in dollars per share)										$ (0.03)	$ 0.05
Diluted (in dollars per share)										$ (0.02)	$ 0.05
Accounting Standards Update 2017-07 \| Restatement Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating income										$ 7,606	$ 8,010

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Revenue	$ 1,780,080	$ 1,663,112	$ 1,613,997	$ 1,646,848	$ 1,631,076	$ 1,470,709	$ 1,542,805	$ 1,523,010	$ 6,704,037	$ 6,167,600	$ 5,809,491
Revenue (as a percent)									100.00%	100.00%	100.00%
Prime Contractor
Disaggregation of Revenue [Line Items]
Revenue									$ 6,159,918	$ 5,626,544	$ 5,261,499
Revenue (as a percent)									92.00%	91.00%	91.00%
Sub-contractor
Disaggregation of Revenue [Line Items]
Revenue									$ 544,119	$ 541,056	$ 547,992
Revenue (as a percent)									8.00%	9.00%	9.00%
Global Commercial Clients
Disaggregation of Revenue [Line Items]
Revenue									$ 261,600	$ 198,149	$ 153,992
Revenue (as a percent)									4.00%	3.00%	3.00%
UNITED STATES
Disaggregation of Revenue [Line Items]
Revenue									$ 6,442,437	$ 5,969,451	$ 5,655,499
Revenue (as a percent)									96.00%	97.00%	97.00%
UNITED STATES \| Defense Clients
Disaggregation of Revenue [Line Items]
Revenue									$ 3,114,571	$ 2,830,102	$ 2,699,284
Revenue (as a percent)									47.00%	46.00%	46.00%
UNITED STATES \| Intelligence Clients
Disaggregation of Revenue [Line Items]
Revenue									$ 1,566,870	$ 1,494,489	$ 1,344,906
Revenue (as a percent)									23.00%	24.00%	23.00%
UNITED STATES \| Civil Clients
Disaggregation of Revenue [Line Items]
Revenue									$ 1,760,996	$ 1,644,860	$ 1,611,309
Revenue (as a percent)									26.00%	27.00%	28.00%
Cost-reimbursable
Disaggregation of Revenue [Line Items]
Revenue									$ 3,580,595	$ 3,155,049	$ 2,882,178
Revenue (as a percent)									53.00%	51.00%	50.00%
Time-and-materials
Disaggregation of Revenue [Line Items]
Revenue									$ 1,576,673	$ 1,542,899	$ 1,500,851
Revenue (as a percent)									24.00%	25.00%	26.00%
Fixed-price
Disaggregation of Revenue [Line Items]
Revenue									$ 1,546,769	$ 1,469,652	$ 1,426,462
Revenue (as a percent)									23.00%	24.00%	24.00%

Revenue - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Revenue - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Revenue from Contract with Customer [Abstract]
Revenue, amount of remaining performance obligation	$ 5,800.0
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Contract with customer, liability, revenue recognized	$ 25.3	$ 16.2	$ 10.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing, period one	12 months
Remaining performance obligation, expected timing, period two	24 months
Revenue, remaining performance obligation, percentage	75.00%

Revenue - Summary of Contract Balances (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Contract assets:
Current	$ 846,372	$ 738,646
Long-term	61,391	59,633
Total	907,763	798,279
Contract liabilities:
Advance payments, billings in excess of costs incurred and deferred revenue	$ 21,316	$ 27,522

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share, Basic and Diluted, by Common Class, Including Two Class Method [Line Items]
Earnings for basic computations									$ 416,664	$ 299,824	$ 258,495
Weighted-average common shares outstanding for basic computations									141,910,799	145,964,574	148,218,968
Earnings for diluted computations									$ 416,675	$ 299,837	$ 258,514
Dilutive stock options and restricted stock (in shares)									1,245,377	1,785,448	2,055,672
Average number of common shares outstanding for diluted computations									143,156,176	147,750,022	150,274,640
Earnings per common share
Basic (in dollars per share)	$ 0.64	$ 0.92	$ 0.65	$ 0.72	$ 0.57	$ 0.51	$ 0.50	$ 0.47	$ 2.94	$ 2.05	$ 1.74
Diluted (in dollars per share)	$ 0.63	$ 0.92	$ 0.64	$ 0.72	$ 0.56	$ 0.51	$ 0.49	$ 0.47	$ 2.91	$ 2.03	$ 1.72
Payments of dividends									$ 114,234	$ 103,411	$ 92,925
Restricted Stock
Earnings per common share
Unvested shares participating in the payment of the Company's dividends declared									600,000	800,000	1,300,000
Payments of dividends									$ 600	$ 800	$ 900
Undistributed earnings (loss) allocated to participating securities, basic									1,200	1,100	1,400
Undistributed earnings (loss) allocated to participating securities, diluted									$ 1,200	$ 1,100	$ 1,400
Stock Options
Earnings per common share
Antidilutive options excluded from the computation of EPS (in shares)									200,000	300,000	50,000
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									141,910,799	145,964,574	148,218,968

Acquisitions - Narrative (Details) - USD ($) $ in Thousands	Jan. 24, 2017	Mar. 31, 2019	Mar. 31, 2018	Jun. 30, 2017	Mar. 31, 2017
Business Acquisition [Line Items]
Income tax uncertainty		$ 11,509	$ 11,787		$ 11,600
Goodwill		$ 1,581,160	$ 1,581,146
Aquilent
Business Acquisition [Line Items]
Total purchase consideration paid at closing	$ 253,600
Customer-relationship intangible assets	69,000
Tax indemnification liability	13,554			$ 13,600
Income tax uncertainty	10,221
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, 2019	Mar. 31, 2018	Jun. 30, 2017	Mar. 31, 2017	Jan. 24, 2017
Business Acquisition [Line Items]
Goodwill	$ 1,581,160	$ 1,581,146
Income tax uncertainty	$ (11,509)	$ (11,787)		$ (11,600)
Aquilent
Business Acquisition [Line Items]
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			$ (13,600)		(13,554)
Income tax uncertainty					(10,221)
Total purchase consideration transfer at closing					$ 253,554

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 1,581,160,000	$ 1,581,146,000
Impairment charge on intangibles	0	0	$ 3,800,000
Amortization of intangible assets	$ 20,900,000	$ 20,700,000	$ 17,900,000
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

Goodwill and Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Value	$ 204,152	$ 174,859
Accumulated Amortization	107,301	86,555
Total estimated amortization expense	96,851	88,304
Indefinite-lived Intangible Assets (Excluding Goodwill) [Abstract]
Intangible assets, gross	394,352	365,059
Net Carrying Value	287,051	278,504
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	115,814	115,808
Accumulated Amortization	60,762	45,036
Total estimated amortization expense	55,052	70,772
Software
Finite-Lived Intangible Assets, Net [Abstract]
Gross Carrying Value	88,338	59,051
Accumulated Amortization	46,539	41,519
Total estimated amortization expense	$ 41,799	$ 17,532
Weighted Average
Finite-Lived Intangible Assets [Line Items]
Weighted Average remaining period of amortization	7 years 6 months
Weighted Average \| Customer relationships and other amortizable intangible assets
Finite-Lived Intangible Assets [Line Items]
Weighted Average remaining period of amortization	8 years 9 months
Weighted Average \| Software
Finite-Lived Intangible Assets [Line Items]
Weighted Average remaining period of amortization	3 years 8 months

Goodwill and Intangible Assets - Schedule of Expected Amortization Expense (Details) $ in Thousands	Mar. 31, 2019 USD ($)
For the Fiscal Year Ended March 31,
2020	$ 18,863
2021	15,421
2022	11,433
2023	9,667
2024	6,401
Thereafter	12,532
Total estimated amortization expense	$ 74,317

Accounts Receivable, Net of Allowance (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Current assets:
Accounts receivable–billed	$ 494,671	$ 395,136
Accounts receivable–unbilled	846,372	738,646
Allowance for doubtful accounts	(10,679)	(77)
Accounts receivable, net of allowance	1,330,364	1,133,705
Other long-term assets:
Accounts receivable–unbilled	61,391	59,633
Total accounts receivable, net	1,391,755	1,193,338
Provision for doubtful accounts	$ 11,900	$ 3,200	$ 600

Property and Equipment, Net (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 495,636	$ 445,823
Less: Accumulated depreciation and amortization	(323,183)	(293,459)
Property and equipment, net	172,453	152,364
Depreciation and amortization expense related to property and equipment	47,800	44,300	$ 42,300
Reduction to gross cost and accumulated depreciation for zero net book value assets	11,400	15,500
Furniture and equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	174,298	164,061
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	96,028	79,629
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 225,310	$ 202,133

Accounts Payable and Other Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Payables and Accruals [Abstract]
Vendor payables	$ 417,648	$ 339,993
Accrued expenses	247,300	217,566
Total accounts payable and other accrued expenses	$ 664,948	$ 557,559

Accrued Compensation and Benefits (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Compensation Related Costs [Abstract]
Bonus	$ 117,604	$ 87,817
Retirement	37,678	35,743
Vacation	141,953	131,519
Other	28,318	27,671
Total accrued compensation and benefits	$ 325,553	$ 282,750

Deferred Payment Obligation - Narrative (Details) - USD ($) $ in Thousands			12 Months Ended
	Dec. 11, 2009	Jul. 31, 2008	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Other Liabilities Disclosure [Abstract]
Deferred payment obligation, original amount		$ 158,000
Deferred payment obligation, term		8 years 6 months
Deferred payment obligation, payment pursuant of the Merger Agreement	$ 78,000	$ 78,000
Deferred payment obligation, payment	100,400
Deferred payment obligation, accrued interest payment	$ 22,400		$ 7,993	$ 7,993	$ 7,985
Deferred payment obligation			$ 80,000	80,000
Interest rate per six-month period on unpaid deferred payment obligation			5.00%
Residual balance estimated to be paid			$ 81,304	$ 81,311

Deferred Payment Obligation - Reconciliation of Principal Balance of DPO to Recorded Amount (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Other Liabilities Disclosure [Abstract]
Deferred payment obligation:	$ 80,000	$ 80,000
Accrued interest	1,304	1,311
Amount recorded in the consolidated balance sheet	$ 81,304	$ 81,311

Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Jul. 23, 2018	Jul. 22, 2018	Mar. 31, 2018	Apr. 25, 2017
Long-term Debt, Current and Noncurrent [Abstract]
Long-term debt outstanding	$ 1,778,763
Less: Unamortized debt issuance costs and discount on debt	(19,002)			$ (20,696)
Long-term debt	1,759,761			1,818,579
Less: Current portion of long-term debt	(57,924)			(63,100)
Long-term debt, net of current portion	1,701,837			$ 1,755,479
Term Loan A
Long-term Debt, Current and Noncurrent [Abstract]
Long-term debt outstanding	1,037,713
Term Loan B
Long-term Debt, Current and Noncurrent [Abstract]
Long-term debt outstanding	$ 391,050
Secured Debt \| Term Loan A
Long-term Debt, Current and Noncurrent [Abstract]
Interest rate on long term debt	4.00%			3.88%
Long-term debt outstanding	$ 1,037,713	$ 1,479,500	$ 1,079,500	$ 1,094,275
Secured Debt \| Term Loan B
Long-term Debt, Current and Noncurrent [Abstract]
Interest rate on long term debt	4.50%			3.88%
Long-term debt outstanding	$ 391,050			$ 395,000
Senior Notes
Long-term Debt, Current and Noncurrent [Abstract]
Long-term debt outstanding	$ 350,000
Senior Notes \| Senior Notes
Long-term Debt, Current and Noncurrent [Abstract]
Interest rate on long term debt	5.13%			5.13%
Long-term debt outstanding	$ 350,000			$ 350,000	$ 350,000

Debt - Narrative (Details)			12 Months Ended
Debt - Narrative (Details)	Jul. 23, 2018 USD ($) occasion	Jul. 22, 2018 USD ($)	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)	Apr. 25, 2017 USD ($)
Debt Instrument [Line Items]
Long-term debt outstanding			$ 1,778,763,000
Maximum expanded loan facility			$ 627,000,000
Percentage of consolidated EBITDA required			100.00%
Maximum net secured leverage ratio			350.00%
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%
Delayed Draw Facility
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity	$ 400,000,000		$ 400,000,000
Number of draws allowed on facility \| occasion	2
Minimum amount per draw on facility	$ 100,000,000.0
Term Loan B
Debt Instrument [Line Items]
Long-term debt outstanding			391,050,000
Interest paid			$ 16,800,000	$ 14,900,000
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			$ 1,037,713,000
Interest paid			$ 41,900,000	38,100,000
Term Loan A \| Minimum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate	1.25%	1.50%
Term Loan A \| Maximum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate	2.00%	2.25%
Term Loan A \| London Interbank Offered Rate (LIBOR) \| Minimum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			1.25%
Term Loan A \| London Interbank Offered Rate (LIBOR) \| Maximum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			2.00%
Term Loan A \| Alternative Base Rate (ABR) \| Minimum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			0.25%
Term Loan A \| Alternative Base Rate (ABR) \| Maximum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			1.00%
Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity	$ 500,000,000.0	$ 500,000,000.0
Revolving Credit Facility \| London Interbank Offered Rate (LIBOR) \| Minimum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			1.25%
Revolving Credit Facility \| London Interbank Offered Rate (LIBOR) \| Maximum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			2.00%
Revolving Credit Facility \| Alternative Base Rate (ABR) \| Minimum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			0.25%
Revolving Credit Facility \| Alternative Base Rate (ABR) \| Maximum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			1.00%
Secured Debt \| London Interbank Offered Rate (LIBOR) \| Minimum
Debt Instrument [Line Items]
Long-term debt, basis spread on variable rate			0.00%
Secured Debt \| Term Loan B
Debt Instrument [Line Items]
Long-term debt outstanding			$ 391,050,000	395,000,000
Quarterly periodic payment percentage, principal			0.25%
Secured Debt \| Term Loan A
Debt Instrument [Line Items]
Long-term debt outstanding	$ 1,479,500,000	$ 1,079,500,000	$ 1,037,713,000	1,094,275,000
Quarterly periodic payment percentage, principal			1.25%
Secured Debt \| Revolving Credit Facility
Debt Instrument [Line Items]
Commitment fee percentage			0.25%
Secured Debt \| Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Commitment fee percentage			0.20%
Secured Debt \| Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Commitment fee percentage			0.35%
Revolving Credit Facility
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity			$ 500,000,000.0
Proceeds from line of credit			110,000,000	125,000,000
Revolving credit facility, amount outstanding			0	0
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
Debt Instrument [Line Items]
Long-term debt outstanding			350,000,000	350,000,000	$ 350,000,000
Interest paid			17,900,000	$ 9,300,000
Stated interest rate					5.125%
Debt issuance costs					$ 6,700,000
Cash Flow Hedging \| Interest Rate Swap \| Designated as Hedging Instrument
Debt Instrument [Line Items]
Notional amount of interest rate swap			$ 600,000,000

Debt - Schedule of Future Debt Principal Repayments (Details) $ in Thousands	Mar. 31, 2019 USD ($)
Debt Instrument [Line Items]
Total	$ 1,778,763
2020	57,924
2021	57,924
2022	57,924
2023	57,924
2024	1,197,067
Thereafter	350,000
Term Loan A
Debt Instrument [Line Items]
Total	1,037,713
2020	53,974
2021	53,974
2022	53,974
2023	53,974
2024	821,817
Thereafter	0
Term Loan B
Debt Instrument [Line Items]
Total	391,050
2020	3,950
2021	3,950
2022	3,950
2023	3,950
2024	375,250
Thereafter	0
Senior Notes
Debt Instrument [Line Items]
Total	350,000
2020	0
2021	0
2022	0
2023	0
2024	0
Thereafter	$ 350,000

Debt - Schedule of Detail of Interest Expense (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 11, 2009	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Debt Instrument [Line Items]
Deferred Payment Obligation Interest	$ 22,400	$ 7,993	$ 7,993	$ 7,985
Amortization of Debt Issuance Costs (DIC) and Original Issue Discount (OID)		5,052	5,361	5,683
Other		(389)	189	359
Total Interest Expense		89,517	82,269	62,298
Secured Debt \| Term Loan A
Debt Instrument [Line Items]
Interest expense, debt		42,043	37,575	28,646
Secured Debt \| Term Loan B
Debt Instrument [Line Items]
Interest expense, debt		16,765	14,138	18,874
Revolving Credit Facility
Debt Instrument [Line Items]
Interest expense, debt		115	271	751
Senior Notes
Debt Instrument [Line Items]
Interest expense, debt		$ 17,938	$ 16,742	$ 0

Derivatives - Narrative (Details) $ in Millions	3 Months Ended
Derivatives - Narrative (Details) $ in Millions	Dec. 31, 2018 agreement	Mar. 31, 2019 USD ($)	Mar. 31, 2018 USD ($)
Other Current Assets
Derivative [Line Items]
Estimated fair value of derivative assets		$ 1.8	$ 0.7
Other Noncurrent Assets
Derivative [Line Items]
Estimated fair value of derivative assets		0.6	$ 7.2
Other Current Liabilities
Derivative [Line Items]
Estimated fair value of derivative liabilities		0.9
Other Noncurrent Liabilities
Derivative [Line Items]
Estimated fair value of derivative liabilities		4.3
Cash Flow Hedging \| Designated as Hedging Instrument \| Forward Starting Floating-To-Fixed Interest Rate Swap
Derivative [Line Items]
Number of agreements entered into during period \| agreement	3
Notional amount of interest rate swap		150.0
Cash Flow Hedging \| Designated as Hedging Instrument \| Interest Rate Swap
Derivative [Line Items]
Notional amount of interest rate swap		600.0
Estimated amounts to be reclassified over 12 months		$ 0.9

Derivatives - Schedule of Effect of Derivatives on Financial Statements (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Interest Expense on Consolidated Statements of Operations	$ (89,517)	$ (82,269)	$ (62,298)
Interest Rate Swap \| Designated as Hedging Instrument \| Cash Flow Hedging
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Amount of Gain or (Loss) Recognized in AOCI on Derivative	(9,772)	7,926
Amount of Gain or (Loss) Reclassified from AOCI into Income	1,026	0
Interest Expense on Consolidated Statements of Operations	$ (89,517)	$ (82,269)

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Operating Loss Carryforwards [Line Items]
Federal statutory income tax rate	21.00%	31.50%	35.00%
Deferred tax assets, projected effective rate at which position will reverse (as a percent)	21.00%
Deferred tax liabilities, projected effective rate at which position will reverse (as a percent)	21.00%
Tax Act change in tax rate, provisional income tax benefit	$ 27,900
Net operating loss, valuation allowance	2,900
Income tax reserves	11,509	$ 11,787	$ 11,600
Unrecognized tax benefits that would impact effective tax rate	11,100	11,600	1,400
Accrued interest and penalties	200	100	(9)
Income tax reserve, accrued penalties and interest	400	200	100
Income tax assessment, fully claimed amount	10,900
Reconciliation of the beginning and ending amount of potential tax benefits
Beginning of year	11,608	11,588	1,449
Increases in prior year position	93	41	127
Increases in current year position	575	0	10,278
Settlements with taxing authorities	(731)	0	0
Lapse of statute of limitations	(462)	(21)	(266)
End of year	11,083	$ 11,608	$ 11,588
Domestic
Operating Loss Carryforwards [Line Items]
Net operating losses	2,300
State
Operating Loss Carryforwards [Line Items]
Net operating losses	400
Foreign
Operating Loss Carryforwards [Line Items]
Net operating losses	1,900
Tax Years 2013-2015
Operating Loss Carryforwards [Line Items]
Income tax assessments	11,400
Tax Years 2016-2019
Operating Loss Carryforwards [Line Items]
Income tax assessments	$ 27,400

Income Taxes - Components of Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Current
U.S. Federal	$ 34,019	$ 89,300	$ 115,727
State and local	26,232	20,074	24,273
Foreign	13,617	10,014	3,874
Total current	73,868	119,388	143,874
Deferred
U.S. Federal	23,258	11,356	22,939
State and local	(252)	(2,400)	(1,981)
Foreign	0	0	0
Total deferred	23,006	8,956	20,958
Total	$ 96,874	$ 128,344	$ 164,832

Income Taxes - Reconciliation of Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income tax expense computed at U.S. federal statutory rate	$ 108,235	$ 135,667	$ 148,980
Increases (reductions) resulting from:
Changes in uncertain tax positions	(278)	140	(92)
State and local income taxes, net of federal tax	22,450	14,565	13,882
Foreign income taxes, net of federal tax	10,758	6,855	2,518
Meals and entertainment	1,771	2,247	1,328
Re-measurement of deferred taxes related to the Act	(27,908)	(9,107)	0
Excess tax benefits from stock-based compensation	(10,777)	(14,457)	0
Federal tax credits	(6,355)	(6,563)	(4,402)
Executive compensation -162(M)	2,615	345	294
IRS audit settlement	(2,573)	0	0
Other	(1,064)	(1,348)	2,324
Total	$ 96,874	$ 128,344	$ 164,832
Federal statutory income tax rate	21.00%	31.50%	35.00%

Income Taxes - Components of Net Deferred Income Taxes (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Deferred income tax assets:
Accrued expenses	$ 59,569	$ 53,322
Deferred compensation	32,765	28,326
Stock-based compensation	6,265	7,785
Pension and postretirement benefits	32,697	34,449
Net operating loss carryforwards	4,570	3,362
Deferred rent and tenant allowance	24,565	20,931
Extended disability benefits	3,041	5,963
Interest rate swaps	752	0
State tax credits	13,420	9,822
Other	3,804	1,184
Total gross deferred income tax assets	181,448	165,144
Less: Valuation allowance	(2,853)	(1,373)
Total net deferred income tax assets	178,595	163,771
Deferred income tax liabilities:
Unbilled receivables	(138,944)	(108,287)
Intangible assets	(60,694)	(57,020)
Debt issuance costs	(3,146)	(3,264)
Property and equipment	(926)	(398)
Interest rate swaps	0	(2,076)
Internally developed software	(8,123)	0
Total deferred income tax liabilities	(211,833)	(171,045)
Net deferred income tax liabilities	$ (33,238)	$ (7,274)

Employee Benefit Plans - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
Employee Benefit Plans - Narrative (Details) - USD ($)	Dec. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Retirement Benefits [Abstract]
Employer matching contribution, percentage of match		6.00%
Employees’ Capital Accumulation Plan, total expense recognized		$ 136,300,000	$ 126,900,000	$ 116,600,000
Employees’ Capital Accumulation Plan, Company-paid contributions		130,900,000	123,900,000	$ 114,800,000
Defined Benefit Plan Disclosure [Line Items]
Long-term disability obligation		$ 11,600,000	$ 22,800,000
Reduction to plan liability	$ 11,200,000
Deferred compensation plans, maximum eligible deferral of compensation percentage		100.00%
Long-term deferred compensation costs		$ 3,200,000
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) - Officer Medical Plan - Other Postretirement Benefits Plan - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 5,952	$ 4,464	$ 4,851
Interest cost	5,130	5,008	4,782
Net actuarial loss	2,108	2,271	3,052
Total postretirement medical expense	$ 13,190	$ 11,743	$ 12,685

Employee Benefit Plans - Weighted Average Discount Rate (Details) - Other Postretirement Benefits Plan	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Officer Medical Plan
Defined Benefit Plan Disclosure [Line Items]
Weighted-average discount rate for benefit obligation	4.10%	4.10%	4.30%
Retired Officers' Bonus Plan
Defined Benefit Plan Disclosure [Line Items]
Weighted-average discount rate for benefit obligation	4.10%	4.10%	4.30%
Retired Vice Presidents' Bonus Plan
Defined Benefit Plan Disclosure [Line Items]
Weighted-average discount rate for benefit obligation	4.10%	4.10%	4.30%

Employee Benefit Plans - Healthcare Cost Trend Rates (Details) - Other Postretirement Benefits Plan	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Officer Medical Plan
Defined Benefit Plan Disclosure [Line Items]
Health care cost trend rate assumed for next year, Pre 65	7.50%	7.75%
Health care cost trend rate assumed for next year, Post 65	7.75%	8.00%
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%
Retired Vice Presidents' Bonus Plan
Defined Benefit Plan Disclosure [Line Items]
Year that the rate reaches the ultimate trend rate, Pre 65	2027	2027
Year that the rate reaches the ultimate trend rate, Post 65	2027	2027

Employee Benefit Plans - Retired Officers' Bonus Plan and Retired VP Bonus Plan (Details) - Other Postretirement Benefits Plan - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Officer
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, funded (unfunded) status of plan	$ (3,700,000)	$ (3,800,000)
Retired Officers' Bonus Plan \| Officer
Defined Benefit Plan Disclosure [Line Items]
Retired Officers' Bonus Plan, total pension expense	700,000	700,000	$ 700,000
Benefits paid	800,000	1,500,000	900,000
Retired Vice Presidents' Bonus Plan
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation	900,000	900,000
Retired Vice Presidents' Bonus Plan \| Officer
Defined Benefit Plan Disclosure [Line Items]
Retired Officers' Bonus Plan, total pension expense	200,000	200,000	0
Benefits paid	0	0	0
Officer Medical Plan
Defined Benefit Plan Disclosure [Line Items]
Retired Officers' Bonus Plan, total pension expense	13,190,000	11,743,000	12,685,000
Benefits paid	3,742,000	3,419,000	3,333,000
Defined benefit plan, funded (unfunded) status of plan	120,200,000	126,900,000
Benefit obligation	120,341,000	126,886,000	118,089,000	$ 114,008,000
Fair value of plan assets	$ 0	$ 0	$ 0	$ 0

Employee Benefit Plans - Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Retirement Benefits [Abstract]
Unrecognized gross actuarial gain	$ 13.9	$ 2.7
Unrecognized actuarial gain, tax	$ 3.6	$ 1.0

Employee Benefit Plans - Change in Benefit Obligation and Change in Plan Assets (Details) - Other Postretirement Benefits Plan - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Officer Medical Plan
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation, beginning of the year	$ 126,886	$ 118,089	$ 114,008
Service cost	5,952	4,464	4,851
Interest cost	5,130	5,008	4,782
Net actuarial (gain) loss	(13,885)	2,744	(2,219)
Benefits paid	(3,742)	(3,419)	(3,333)
Benefit obligation, end of the year	120,341	126,886	118,089
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	3,742	3,419	3,333
Benefits paid	(3,742)	(3,419)	(3,333)
Fair value of plan assets, end of the year	0	0	$ 0
Defined benefit plan, funded (unfunded) status of plan	(120,200)	(126,900)
Retired Officers' Bonus Plan and Retired Vice-President Bonus Plan
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Defined benefit plan, funded (unfunded) status of plan	$ (4,600)	$ (4,700)

Employee Benefit Plans - Future Benefit Payments (Details) $ in Thousands	Mar. 31, 2019 USD ($)
For the Fiscal Year Ending March 31,
2020	$ 3,688
2021	4,013
2022	4,403
2023	5,231
2024	5,743
2025 - 2029	$ 34,061

Accumulated Other Comprehensive Loss - Schedule of Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning of year	$ 562,491	$ 584,873	$ 408,488
Other comprehensive income (loss) before reclassifications	3,317	3,295	688
Amounts reclassified from accumulated other comprehensive loss	599	1,527	1,848
Total other comprehensive (loss) income, net of tax	3,916	4,822	2,536
Reclassification of AOCI due to the Act		0
End of year	675,366	562,491	584,873
Tax expense (benefit)	(2,800)	2,900
Post-retirement plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning of year	(20,955)	(17,077)	(19,613)
Other comprehensive income (loss) before reclassifications	10,262	(1,698)	688
Amounts reclassified from accumulated other comprehensive loss	1,625	1,527	1,848
Total other comprehensive (loss) income, net of tax	11,887	(171)	2,536
Reclassification of AOCI due to the Act		(3,707)
End of year	(9,068)	(20,955)	(17,077)
Derivatives designated as cash flow hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning of year	5,849
Other comprehensive income (loss) before reclassifications	(6,945)
Amounts reclassified from accumulated other comprehensive loss	(1,026)
Total other comprehensive (loss) income, net of tax	(7,971)
End of year	(2,122)	5,849
Derivatives designated as cash flow hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning of year	5,849	0	0
Other comprehensive income (loss) before reclassifications		4,993	0
Amounts reclassified from accumulated other comprehensive loss		0	0
Total other comprehensive (loss) income, net of tax		4,993	0
Reclassification of AOCI due to the Act		856
End of year		5,849	0
Totals
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning of year	(15,106)	(17,077)	(19,613)
Reclassification of AOCI due to the Act		(2,851)
End of year	$ (11,190)	$ (15,106)	$ (17,077)

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, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	$ 117,880	$ 140,269	$ 119,887	$ 137,367	$ 106,167	$ 106,499	$ 110,593	$ 106,777	$ 515,403	$ 430,036	$ 425,657
Tax benefit									(96,874)	(128,344)	(164,832)
Net income	$ 89,575	$ 132,037	$ 92,713	$ 104,204	$ 82,506	$ 74,927	$ 73,647	$ 70,612	418,529	301,692	260,825
Reclassification out of Accumulated Other Comprehensive Income \| Amortization of net actuarial loss
Reclassification out of Accumulated Other Comprehensive Income [Line Items]
Total before tax									2,201	2,387	3,050
Tax benefit									(576)	(860)	(1,202)
Net income									$ 1,625	$ 1,527	$ 1,848

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Other Long-Term Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Other Liabilities Disclosure [Abstract]
Deferred rent	$ 78,658	$ 79,913
Postretirement benefit obligations	124,925	131,526
Other	27,069	29,382
Total other long-term liabilities	230,652	240,821
Business Acquisition [Line Items]
Long-term disability obligation	11,600	22,800
Fair Value, Measurements, Recurring
Business Acquisition [Line Items]
Contingent consideration liability	1,224	3,576
Fair Value, Measurements, Recurring \| Level 3
Business Acquisition [Line Items]
Contingent consideration liability	1,224	3,576
Fair Value, Measurements, Recurring \| Level 3 \| Other Noncurrent Liabilities
Business Acquisition [Line Items]
Contingent consideration liability	$ 1,200	$ 3,600	$ 3,600

Stockholders' Equity - Narrative (Details)	1 Months Ended	3 Months Ended	12 Months Ended			101 Months Ended
Stockholders' Equity - Narrative (Details)	Nov. 30, 2010 shares	Mar. 31, 2019 USD ($) shares	Mar. 31, 2019 USD ($) vote shares	Mar. 31, 2018 USD ($) shares	Mar. 31, 2017 USD ($)	Mar. 31, 2019 USD ($) shares	May 24, 2018 USD ($)	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							$ 910,000,000.0	$ 610,000,000.0	$ 410,000,000.0	$ 180,000,000.0	$ 30,000,000.0
Repurchase of common stock (in shares) \| shares			5,100,000	7,200,000
Repurchase of common stock			$ 249,993,000	$ 269,557,000	$ 56,455,000
Share repurchase program, remaining authorized repurchase amount		$ 258,200,000	258,200,000			$ 258,200,000
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock purchased by employees (in shares) \| shares		242,706				2,431,993
Repurchase of common stock			$ 239,800,000	$ 257,600,000
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, 2019	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recurring dividends	$ 114,234	$ 103,411	$ 92,925
Dividends	114,514	104,362	95,179
Dividend equivalents
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends	$ 280	$ 951	$ 2,254

Stock-Based Compensation - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 31,275	$ 23,318	$ 21,249
EIP \| Stock Options
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	2,374	2,036	2,523
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	28,901	21,282	18,726
Cost of revenue
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	8,990	7,771	5,756
General and administrative expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 22,285	$ 15,547	$ 15,493

Stock-Based Compensation - Summary of Unrecognized Compensation (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to unvested stock-based compensation agreements	$ 27,760	$ 17,321
Unrecognized compensation cost, amortization period	5 years
Total	$ 27,760	17,321
2020	18,428
2021	8,571
2022	568
2023	182
2024	11
EIP \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to unvested stock-based compensation agreements	$ 3,501	$ 2,809
Unrecognized compensation cost, amortization period	3 years 7 months 10 days	3 years 7 months 6 days
Total	$ 3,501	$ 2,809
2020	1,766
2021	1,001
2022	541
2023	182
2024	11
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	$ 24,259	$ 14,512
Unrecognized compensation cost, amortization period	1 year 9 months	1 year 10 months 13 days
Total	$ 24,259	$ 14,512
2020	16,662
2021	7,570
2022	27
2023	0
2024	$ 0

Stock-Based Compensation - Summary of Stock Plans (Details) - USD ($) $ / shares in Units, $ in Thousands										12 Months Ended
	Jan. 29, 2019	Nov. 14, 2018	Nov. 13, 2018	Nov. 05, 2018	Oct. 24, 2018	Jul. 30, 2018	Jul. 25, 2018	May 23, 2018	Oct. 01, 2010	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option vesting period										5 years
Repurchase of common stock (in shares)										5,100,000	7,200,000
Repurchase of common stock										$ 249,993	$ 269,557	$ 56,455
Class A Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Repurchase of common stock										239,800	257,600
EIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Fair Value	$ 550	$ 250	$ 50	$ 300	$ 50	$ 300	$ 50	$ 1,900		$ 3,450
Restricted stock granted (in shares)										654,897
Repurchase of common stock (in shares)										198,231
Repurchase of common stock										$ 10,200
EIP \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option expiration period										10 years
Total Fair Value										$ 3,500	3,700
Fair value of options vested										2,500	2,700
Intrinsic value of options exercised										$ 47,200	$ 36,700
Options available for future grant (in shares)										10,708,159	11,434,181
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										$ 21,500	$ 26,700
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)										610,477
Aggregate fair value of all awards issued										$ 27,800
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)										44,420
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date share price (in dollars per share)										$ 41.28
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date share price (in dollars per share)										$ 51.82

Stock-Based Compensation - Schedule of Stock Options Granted (Details) - EIP - USD ($) $ / shares in Units, $ in Thousands									12 Months Ended
	Jan. 29, 2019	Nov. 14, 2018	Nov. 13, 2018	Nov. 05, 2018	Oct. 24, 2018	Jul. 30, 2018	Jul. 25, 2018	May 23, 2018	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)	56,967	23,193	4,558	29,919	5,169	29,096	4,737	203,040	356,679
Stock options granted, weighted average grant date fair value (in dollars per share)	$ 9.65	$ 10.78	$ 10.97	$ 10.03	$ 9.67	$ 10.31	$ 10.55	$ 9.36
Total Fair Value	$ 550	$ 250	$ 50	$ 300	$ 50	$ 300	$ 50	$ 1,900	$ 3,450

Stock-Based Compensation - Stock Option Assumptions (Details) - $ / shares	3 Months Ended				12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield (as a percent)					2.01%	1.90%	1.94%
Expected volatility					25.83%	33.04%	29.65%
Risk-free interest rate					2.81%	1.81%	1.38%
Expected life (in years)					5 years	5 years	5 years
Weighted-average grant date fair value (in dollars per share)					$ 9.67	$ 9.35	$ 7.16
Stock Options \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield (as a percent)					1.66%
Stock Options \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield (as a percent)					2.46%
Ordinary Dividend
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividends declared per share (in dollars per share)	$ 0.23	$ 0.19	$ 0.19	$ 0.19

Stock-Based Compensation - Stock Option and Restricted Stock Award Activity (Details) - USD ($) $ / shares in Units, $ in Thousands										3 Months Ended				12 Months Ended
	Jan. 29, 2019	Nov. 14, 2018	Nov. 13, 2018	Nov. 05, 2018	Oct. 24, 2018	Jul. 30, 2018	Jul. 25, 2018	May 23, 2018	Jul. 30, 2012	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2019
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)														$ 9.67	$ 9.35	$ 7.16
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)													957,106	957,106
Granted (in shares)														654,897
Vested (in shares)														637,212
Forfeited (in shares)														42,010
Unvested, ending balance (in shares)										932,781				932,781	957,106
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)													$ 32.36	$ 32.36
Granted, weighted average grant date fair value (in dollars per share)														42.40
Vested, weighted average grant date fair value (in dollars per share)														33.80
Forfeited, weighted average grant date fair value (in dollars per share)														37.64
Unvested, beginning balance, weighted average grant date fair value (in dollars per share)										$ 38.19				$ 38.19	$ 32.36
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Granted (in shares)	56,967	23,193	4,558	29,919	5,169	29,096	4,737	203,040						356,679
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest [Abstract]
Granted (in shares)	56,967	23,193	4,558	29,919	5,169	29,096	4,737	203,040						356,679
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)	$ 9.65	$ 10.78	$ 10.97	$ 10.03	$ 9.67	$ 10.31	$ 10.55	$ 9.36
EIP \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Outstanding, beginning balance (in shares)													2,799,954	2,799,954
Granted (in shares)														356,679
Forfeited (in shares)														45,313
Expired (in shares)														0
Exercised (in shares)														1,019,965
Outstanding, ending balance (in shares)										2,091,355				2,091,355	2,799,954
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)													$ 18.55	$ 18.55
Granted, weighted average exercise price (in dollars per share)														44.14
Forfeited, weighted average exercise price (in dollars per share)														33.96
Expired, weighted average exercise price (in dollars per share)														0.00
Exercised, weighted average exercise price (in dollars per share)														11.88
Outstanding, ending balance, weighted average exercise price (in dollars per share)										$ 25.83				$ 25.83	$ 18.55
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest [Abstract]
Unvested, beginning balance (in shares)													637,867	637,867
Granted (in shares)														356,679
Vested (in shares)														340,620
Forfeited (in shares)														45,313
Unvested, ending balance (in shares)										608,613				608,613	637,867
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)													$ 7.68	$ 7.68
Granted, weighted average grant date fair value (in dollars per share)														9.67
Vested, weighted average grant date fair value (in dollars per share)														7.24
Forfeited, weighted average grant date fair value (in dollars per share)														8.47
Unvested, ending balance, weighted average grant date fair value (in dollars per share)										$ 9.04				$ 9.04	$ 7.68
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Stock Options Outstanding (in shares)										2,091,355			2,799,954	2,799,954	2,799,954		2,091,355
Outstanding, Weighted Average Exercise Price (in dollars per share)										$ 25.83			$ 18.55	$ 18.55	$ 18.55		$ 25.83
Outstanding, Weighted Average Remaining Contractual Life (in years)														5 years 7 months 20 days
Outstanding, Intrinsic Value																	$ 67,564
Stock Options Exercisable (in shares)																	1,482,742
Stock Options Exercisable, Weighted Average Exercise Price (in dollars per share)																	$ 20.58
Stock Options Exercisable, Weighted Average Remaining Contractual Life (in years)														4 years 5 months 28 days
Stock Options Exercisable, Intrinsic Value																	$ 55,694
Ordinary 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)										$ 0.23	$ 0.19	$ 0.19	$ 0.19
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)														$ 51.82

Fair Value Measurements - Schedule of Recurring Fair Value Measurements (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Assets, Fair Value Disclosure [Abstract]
Long-term deferred compensation costs	$ 3,200
Liabilities, Fair Value Disclosure [Abstract]
Decrease in contingent consideration	2,400
Fair Value, Measurements, Recurring
Assets, Fair Value Disclosure [Abstract]
Current derivative instruments	1,790	$ 700
Long-term derivative instruments	614	7,225
Long-term deferred compensation costs	3,169
Total assets	5,573	7,925
Liabilities, Fair Value Disclosure [Abstract]
Contingent consideration liability	1,224	3,576
Current derivative instruments	929
Long-term derivative instruments	4,347
Long-term deferred compensation costs	3,169
Total liabilities	9,669	3,576
Fair Value, Measurements, Recurring \| Level 1
Assets, Fair Value Disclosure [Abstract]
Current derivative instruments	0	0
Long-term derivative instruments	0	0
Long-term deferred compensation costs	3,169
Total assets	3,169	0
Liabilities, Fair Value Disclosure [Abstract]
Contingent consideration liability	0	0
Current derivative instruments	0
Long-term derivative instruments	0
Long-term deferred compensation costs	3,169
Total liabilities	3,169	0
Fair Value, Measurements, Recurring \| Level 2
Assets, Fair Value Disclosure [Abstract]
Current derivative instruments	1,790	700
Long-term derivative instruments	614	7,225
Long-term deferred compensation costs	0
Total assets	2,404	7,925
Liabilities, Fair Value Disclosure [Abstract]
Contingent consideration liability	0	0
Current derivative instruments	929
Long-term derivative instruments	4,347
Long-term deferred compensation costs	0
Total liabilities	5,276	0
Fair Value, Measurements, Recurring \| Level 3
Assets, Fair Value Disclosure [Abstract]
Current derivative instruments	0	0
Long-term derivative instruments	0	0
Long-term deferred compensation costs	0
Total assets	0	0
Liabilities, Fair Value Disclosure [Abstract]
Contingent consideration liability	1,224	3,576
Current derivative instruments	0
Long-term derivative instruments	0
Long-term deferred compensation costs	0
Total liabilities	1,224	3,576
Other Noncurrent Liabilities \| Fair Value, Measurements, Recurring \| Level 3
Liabilities, Fair Value Disclosure [Abstract]
Contingent consideration liability	$ 1,200	$ 3,600	$ 3,600

Related-Party Transactions (Details) $ in Millions	3 Months Ended	12 Months Ended
Related-Party Transactions (Details) $ in Millions	Dec. 31, 2018 USD ($)	Mar. 31, 2019 USD ($) director	Mar. 31, 2017 USD ($)
Related Party Transaction [Line Items]
Number of directors appointable \| director		2
Number of directors \| director		5
Affiliated Entity \| Pledge Obligation
Related Party Transaction [Line Items]
Amount of pledge \| $			$ 5.0
Amount of related party transaction \| $	$ 3.3
Affiliated Entity \| Services Performed Under Subcontractor
Related Party Transaction [Line Items]
Number of directors \| director		2
Amount of related party transaction \| $		$ 55.3

Commitments and Contingencies - Leases and Guarantees (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Rent expense, net	$ 82,700	$ 81,200	$ 81,600
Rent expense, sublease rentals	600	$ 600	$ 500
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2020	70,614
2021	68,888
2022	58,325
2023	53,463
2024	46,222
Thereafter	125,399
Operating leases, future minimum payments due	422,911
Operating Leases, Future Minimum Payments Due, Sublease Rentals, Fiscal Year Maturity [Abstract]
2020	129
2021	12
2022	5
2023	0
2024	0
Thereafter	0
Operating leases, future minimum payments due, future minimum sublease rentals	$ 146
Contracts with U.S. government agencies or other U.S. government contractors
Concentration Risk [Line Items]
Concentration risk, percentage	96.00%	97.00%	97.00%
Unfavorable Regulatory Action
Loss Contingencies [Line Items]
Liability for reductions and/or penalties from U.S Government audits	$ 195,300	$ 168,600
Financial Standby Letter of Credit
Concentration Risk [Line Items]
Guarantor obligations, carrying value	9,500	6,300
Guarantor obligations, reduction to available borrowings	1,000	1,400
Guarantor obligations, facility				$ 15,000
Guarantor obligations, available amount	$ 6,500	$ 10,100

Commitments and Contingencies - Litigation (Details)				17 Months Ended	84 Months Ended
Commitments and Contingencies - Litigation (Details)	Sep. 05, 2017 plaintiff	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
Former stockholder litigation
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
Former stockholder litigation \| United States Court of Appeals for the Ninth Circuit
Loss Contingencies [Line Items]
Loss contingencies, claims dismissed, number		1
Former stockholder litigation \| United States District Court for the Southern District of New York
Loss Contingencies [Line Items]
Loss contingencies, pending claims, number							3
United States District Court For The Eastern District Of Virginia Styled Langley V. Booz Allen Hamilton Holding Corp.
Loss Contingencies [Line Items]
Loss contingencies, number of plaintiffs \| plaintiff	2

Business Segment Information (Details)	12 Months Ended
Business Segment Information (Details)	Mar. 31, 2019 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, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 1,780,080	$ 1,663,112	$ 1,613,997	$ 1,646,848	$ 1,631,076	$ 1,470,709	$ 1,542,805	$ 1,523,010	$ 6,704,037	$ 6,167,600	$ 5,809,491
Operating income	135,099	161,932	143,751	161,612	131,696	128,473	132,889	126,665	602,394	519,723	506,014
Income before income taxes	117,880	140,269	119,887	137,367	106,167	106,499	110,593	106,777	515,403	430,036	425,657
Net income	$ 89,575	$ 132,037	$ 92,713	$ 104,204	$ 82,506	$ 74,927	$ 73,647	$ 70,612	$ 418,529	$ 301,692	$ 260,825
Earnings per common share:
Basic (in dollars per share)	$ 0.64	$ 0.92	$ 0.65	$ 0.72	$ 0.57	$ 0.51	$ 0.50	$ 0.47	$ 2.94	$ 2.05	$ 1.74
Diluted (in dollars per share)	$ 0.63	$ 0.92	$ 0.64	$ 0.72	$ 0.56	$ 0.51	$ 0.49	$ 0.47	$ 2.91	$ 2.03	$ 1.72

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Supplemental Financial Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Allowance for doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance	$ 77	$ 0	$ 656
Provision for doubtful accounts	11,882	706	(135)
Charges against allowance	(1,280)	(629)	(521)
Ending balance	10,679	77	0
Tax valuation allowance
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance	1,373	0	0
Charges against allowance	(1,480)	(1,373)	0
Ending balance	$ 2,853	$ 1,373	$ 0

Subsequent Events (Details)				3 Months Ended
Subsequent Events (Details)	May 28, 2019 $ / shares	Apr. 23, 2019 USD ($)	Apr. 04, 2019 USD ($) agreement	Jun. 30, 2019 USD ($) shares	May 23, 2019 USD ($)	May 22, 2019 USD ($)	Mar. 31, 2019 USD ($)	Jul. 23, 2018 USD ($)	May 24, 2018 USD ($)	Nov. 02, 2017 USD ($)	Jan. 25, 2017 USD ($)	Jan. 27, 2015 USD ($)	Dec. 12, 2011 USD ($)
Subsequent Event [Line Items]
Share repurchase program, amount authorized									$ 910,000,000.0	$ 610,000,000.0	$ 410,000,000.0	$ 180,000,000.0	$ 30,000,000.0
Share repurchase program, remaining authorized repurchase amount							$ 258,200,000
Subsequent Event
Subsequent Event [Line Items]
Derivatives, Number of Financial Institutions \| agreement			6
Dividends declared per share (in dollars per share) \| $ / shares	$ 0.23
Share repurchase program, amount authorized					$ 1,310,000,000.0	$ 910,000,000.0
Share repurchase program, remaining authorized repurchase amount					$ 658,200,000
Delayed Draw Facility
Subsequent Event [Line Items]
Revolving credit facility, maximum borrowing capacity							$ 400,000,000	$ 400,000,000
Delayed Draw Facility \| Subsequent Event
Subsequent Event [Line Items]
Proceeds from line of credit		$ 400,000,000
Interest Rate Swap \| Minimum \| Subsequent Event
Subsequent Event [Line Items]
Derivative, interest rate			2.2585%
Interest Rate Swap \| Maximum \| Subsequent Event
Subsequent Event [Line Items]
Derivative, interest rate			2.3075%
Interest Rate Swap \| Designated as Hedging Instrument \| Subsequent Event
Subsequent Event [Line Items]
Number of agreements entered into during period \| agreement			8
Notional amount of derivative			$ 50,000,000
Restricted Stock \| Class A Common Stock \| Subsequent Event
Subsequent Event [Line Items]
Stock repurchased, restricted stock awards, value withheld for taxes				$ 6,300,000
Stock repurchased, restricted stock withheld for taxes (in shares) \| shares				108,617

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 2,947,000
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 2,947,000