CorVel (CRVL) 10-Q 7 Feb 20 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2019	Feb. 03, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Trading Symbol	CRVL
Entity Registrant Name	CORVEL CORP
Entity Central Index Key	0000874866
Current Fiscal Year End Date	--03-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		18,104,704
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	0-19291
Entity Tax Identification Number	33-0282651
Entity Address, Address Line One	2010 Main Street
Entity Address, Address Line Two	Suite 600
Entity Address, City or Town	Irvine
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92614
City Area Code	949
Local Phone Number	851-1473
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, Par Value $0.0001 Per Share
Security Exchange Name	NASDAQ
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2019	Mar. 31, 2019
Current Assets
Cash and cash equivalents	$ 89,628,000	$ 91,713,000
Customer deposits	45,952,000	45,268,000
Accounts receivable, net	66,187,000	71,336,000
Prepaid taxes and expenses	8,785,000	7,176,000
Total current assets	210,552,000	215,493,000
Property and equipment, net	76,955,000	61,980,000
Goodwill	36,814,000	36,814,000
Other intangibles, net	2,648,000	2,975,000
Right-of-use asset, net (Note 10)	93,541,000	0
Other assets	1,570,000	756,000
TOTAL ASSETS	422,080,000	318,018,000
Current Liabilities
Accounts and taxes payable (Note 9)	20,659,000	11,478,000
Accrued liabilities (Note 9)	115,066,000	105,441,000
Total current liabilities	135,725,000	116,919,000
Deferred income taxes	5,403,000	6,294,000
Long-term operating lease liabilities (Note 10)	87,587,000	0
Total liabilities	228,715,000	123,213,000
Commitments and contingencies (Notes 7 and 8)	0	0
Stockholders' Equity
Common stock, $.0001 par value: 120,000,000 shares authorized at December 31, 2019 and March 31, 2019; 54,204,756 shares issued (18,152,615 shares outstanding, net of Treasury shares) and 54,021,032 shares issued (18,557,794 shares outstanding, net of Treasury shares) at December 31, 2019 and March 31, 2019, respectively	3,000	3,000
Paid-in capital	166,240,000	155,798,000
Treasury Stock (36,052,141 shares at December 31, 2019 and 35,463,238 shares at March 31, 2019)	(513,668,000)	(466,156,000)
Retained earnings	540,790,000	505,160,000
Total stockholders' equity	193,365,000	194,805,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 422,080,000	$ 318,018,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Mar. 31, 2019
Statement Of Financial Position [Abstract]
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	120,000,000	120,000,000
Common stock, shares issued	54,204,756	54,021,032
Common stock, shares outstanding	18,152,615	18,557,794
Treasury stock, shares	36,052,141	35,463,238

Consolidated Income Statements

Consolidated Income Statements - Unaudited - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
REVENUES	$ 148,092,000	$ 146,082,000	$ 445,200,000	$ 444,656,000
Cost of revenues	118,839,000	116,728,000	350,024,000	352,459,000
Gross profit	29,253,000	29,354,000	95,176,000	92,197,000
General and administrative expenses	17,000,000	15,803,000	49,290,000	46,834,000
Income before income tax provision	12,253,000	13,551,000	45,886,000	45,363,000
Income tax provision	2,901,000	3,253,000	10,256,000	10,498,000
NET INCOME	$ 9,352,000	$ 10,298,000	$ 35,630,000	$ 34,865,000
Net income per common and common equivalent share
Basic	$ 0.51	$ 0.55	$ 1.94	$ 1.85
Diluted	$ 0.50	$ 0.54	$ 1.91	$ 1.83
Weighted average common and common equivalent shares
Basic	18,253,000	18,758,000	18,410,000	18,852,000
Diluted	18,526,000	18,984,000	18,695,000	19,058,000

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - Unaudited - USD ($)	Total	Common Stock [Member]	Paid-in Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]
Beginning balance at Mar. 31, 2018	$ 171,176,000	$ 3,000	$ 143,705,000	$ (430,989,000)	$ 458,457,000
Beginning balance, shares at Mar. 31, 2018		53,793,986		(34,881,079)
Stock issued under employee stock purchase plan	252,000	$ 0	252,000	$ 0	0
Stock issued under employee stock purchase plan, shares		4,228
Stock issued under stock option plan, net of shares repurchased	5,456,000	$ 0	5,456,000	0	0
Stock issued under stock option plan, net of shares repurchased, shares		169,448
Stock-based compensation expense	3,110,000	$ 0	3,110,000	0	0
Purchase of treasury stock	(22,591,000)	0	0	$ (22,591,000)	0
Purchase of treasury stock, shares				(386,552)
Net income	34,865,000	0	0	$ 0	34,865,000
Ending balance at Dec. 31, 2018	192,268,000	$ 3,000	152,523,000	$ (453,580,000)	493,322,000
Ending balance, shares at Dec. 31, 2018		53,967,662		(35,267,631)
Beginning balance at Sep. 30, 2018	190,064,000	$ 3,000	149,328,000	$ (442,291,000)	483,024,000
Beginning balance, shares at Sep. 30, 2018		53,907,432		(35,081,057)
Stock issued under stock option plan, net of shares repurchased	2,172,000	$ 0	2,172,000	$ 0	0
Stock issued under stock option plan, net of shares repurchased, shares		60,230
Stock-based compensation expense	1,023,000	$ 0	1,023,000	0	0
Purchase of treasury stock	(11,289,000)	0	0	$ (11,289,000)	0
Purchase of treasury stock, shares				(186,574)
Net income	10,298,000	0	0	$ 0	10,298,000
Ending balance at Dec. 31, 2018	192,268,000	$ 3,000	152,523,000	$ (453,580,000)	493,322,000
Ending balance, shares at Dec. 31, 2018		53,967,662		(35,267,631)
Beginning balance at Mar. 31, 2019	194,805,000	$ 3,000	155,798,000	$ (466,156,000)	505,160,000
Beginning balance, shares at Mar. 31, 2019		54,021,032		(35,463,238)
Stock issued under employee stock purchase plan	239,000	$ 0	239,000	$ 0	0
Stock issued under employee stock purchase plan, shares		3,323
Stock issued under stock option plan, net of shares repurchased	6,637,000	$ 0	6,637,000	0	0
Stock issued under stock option plan, net of shares repurchased, shares		180,401
Stock-based compensation expense	3,566,000	$ 0	3,566,000	0	0
Purchase of treasury stock	$ (47,512,000)	0	0	$ (47,512,000)	0
Purchase of treasury stock, shares	(588,903)			(588,903)
Net income	$ 35,630,000	0	0	$ 0	35,630,000
Ending balance at Dec. 31, 2019	193,365,000	$ 3,000	166,240,000	$ (513,668,000)	540,790,000
Ending balance, shares at Dec. 31, 2019		54,204,756		(36,052,141)
Beginning balance at Sep. 30, 2019	200,816,000	$ 3,000	163,847,000	$ (494,472,000)	531,438,000
Beginning balance, shares at Sep. 30, 2019		54,176,531		(35,812,115)
Stock issued under stock option plan, net of shares repurchased	1,250,000	$ 0	1,250,000	$ 0	0
Stock issued under stock option plan, net of shares repurchased, shares		28,225
Stock-based compensation expense	1,143,000	$ 0	1,143,000	0	0
Purchase of treasury stock	$ (19,196,000)	0	0	$ (19,196,000)	0
Purchase of treasury stock, shares	(240,026)			(240,026)
Net income	$ 9,352,000	0	0	$ 0	9,352,000
Ending balance at Dec. 31, 2019	$ 193,365,000	$ 3,000	$ 166,240,000	$ (513,668,000)	$ 540,790,000
Ending balance, shares at Dec. 31, 2019		54,204,756		(36,052,141)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - Unaudited - USD ($)	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash Flows from Operating Activities
NET INCOME	$ 35,630,000	$ 34,865,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	16,818,000	17,096,000
Loss on write down or disposal of property, capitalized software or investment	69,000	31,000
Stock compensation expense	3,566,000	3,110,000
(Recovery) provision for doubtful accounts	(1,421,000)	1,620,000
Deferred income tax	(891,000)	(777,000)
Changes in operating assets and liabilities
Accounts receivable	6,570,000	890,000
Customer deposits	(684,000)	(7,142,000)
Prepaid taxes and expenses	(1,609,000)	(1,361,000)
Other assets	(813,000)	143,000
Accounts and taxes payable	5,391,000	1,811,000
Accrued liabilities	9,625,000	17,617,000
Operating lease liabilities	(5,954,000)	0
Net cash provided by operating activities	66,297,000	67,903,000
Cash Flows from Investing Activities
Purchase of property and equipment	(27,746,000)	(10,308,000)
Net cash used in investing activities	(27,746,000)	(10,308,000)
Cash Flows from Financing Activities
Purchase of treasury stock	(47,512,000)	(22,591,000)
Exercise of common stock options	6,637,000	5,456,000
Exercise of employee stock purchase options	239,000	252,000
Net cash used in financing activities	(40,636,000)	(16,883,000)
(Decrease)/increase in cash and cash equivalents	(2,085,000)	40,712,000
Cash and cash equivalents at beginning of period	91,713,000	55,771,000
Cash and cash equivalents at end of period	89,628,000	96,483,000
Supplemental Cash Flow Information:
Income taxes paid	11,927,000	8,931,000
Purchase of software license under finance agreement	$ 3,790,000	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 1 — Summary of Significant Accounting Policies Basis of Presentation: The unaudited consolidated financial statements include the accounts of the Company and its subsidiaries. Significant intercompany accounts and transactions have been eliminated in consolidation. The unaudited consolidated financial statements herein have been prepared by CorVel Corporation (“the Company”) pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). The accompanying interim unaudited financial statements have been prepared under the presumption that users of the interim financial information have either read or have access to the audited consolidated financial statements for the latest fiscal year ended March 31, 2019. Accordingly, note disclosures which would substantially duplicate the disclosures contained in the March 31, 2019 audited consolidated financial statements have been omitted from these interim unaudited consolidated financial statements. The Company evaluated all subsequent events and transactions through the date of filing this report. Certain information and note disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the three and nine months ended December 31, 2019 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2020. For further information, refer to the audited consolidated financial statements and notes thereto for the fiscal year ended March 31, 2019 included in the Company's Annual Report on Form 10-K filed with the SEC on June 7, 2019. Recent Accounting Pronouncements: In June 2016, the FASB issued ASU 2016-13 regarding ASC Topic 326, “Measurement of Credit Losses on Financial Instruments”. The pronouncement changes the impairment model for most financial assets and will require the use of an "expected loss" model for instruments measured at amortized cost. Under this model, entities will be required to estimate the lifetime expected credit loss on such instruments and record an allowance to offset the amortized cost basis of the financial asset, resulting in a net presentation of the amount expected to be collected on the financial asset. Subsequently, the FASB issued an amendment to clarify the implementation dates and items that fall within the scope of this pronouncement. This standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are still evaluating the impact this guidance will have on our consolidated financial statements. In January 2017, the FASB issued ASU 2017-04 regarding ASC Topic 350, “Simplifying the Test for Goodwill Impairment”. The pronouncement simplifies the accounting for goodwill impairments by eliminating step two from the goodwill impairment test. Under this guidance, if the carrying amount of a reporting unit exceeds its estimated fair value, an impairment charge shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. This standard is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. The adoption of this guidance will not have a material impact on our consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, “Simplifying the Accounting for Income Taxes”. The pronouncement simplifies the accounting for income taxes by removing certain exceptions to the general principles in ASC Topic 740, “Income Taxes”. The pronouncement also improves consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. This standard is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. We are still evaluating the impact this guidance will have on our consolidated financial statements. Guidance Adopted: In February 2016, the FASB issued ASU No. 2016-02, “Leases”, which sets out the principles for the recognition, measurement, presentation, and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for using an approach that is similar to the existing guidance for operating leases. The standard is to be applied using a modified retrospective transition method. The Company has adopted this standard as of April 1, 2019. The adoption of this standard did not have a material impact on retained earnings on the consolidated balance sheet and did not have a material impact on the consolidated statements of income. The Company elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the Company to carry forward the historical assessments of whether contracts are or contain leases, lease classification, and initial direct costs. The Company implemented internal controls and key system functionality to enable the preparation of financial information on adoption. Refer to Note 10 of the accompanying consolidated financial statements for a description of the impact of this adopted guidance.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Dec. 31, 2019
Revenue Recognition [Abstract]
Revenue Recognition	Note 2 – Revenue Recognition The Company adopted ASC 606 using the modified retrospective method for those contracts which were not substantially completed as of the transition date, which was April 1, 2018. The reported results for the three and nine months ended December 31, 2019 and 2018 reflect the application of the guidance of ASC 606. Revenue from Contracts with Customers Revenue is recognized when control of the promised services is transferred to the Company’s customers in an amount that reflects the consideration expected to be entitled to in exchange for those services. As the Company completes its performance obligations, which are identified below, it has an unconditional right to consideration as outlined in the Company’s contracts. Generally, the Company’s accounts receivable are expected to be collected in 30 days in accordance with the underlying payment terms. The Company generates revenue through its patient management and network solutions service lines. The Company operates in one reportable operating segment, managed care. Patient Management Service Line The patient management service line provides services primarily related to workers’ compensation claims management and case management. This service line also includes additional services such as accident and health claims programs. Each claim referred by the customer is considered an additional optional purchase of claims management services under the agreement with the customer. The transaction price is readily available from the contract and is fixed for each service. Revenue is recognized over time as services are provided as the performance obligations are satisfied through the effort expended to research, investigate, evaluate, document, and report the claim and control of these services is transferred to the customer. Revenue is recognized based on historical claim closure rates and claim type applied utilizing a portfolio approach based on the time elapsed for these claims, generally between three and fifteen months. The Company believes this approach reasonably reflects the transfer of the claims management services to its customers. The Company’s obligation to manage claims and cases under the patient management service line can range from less than one year to multi-year contracts. They are generally one year under the terms of the contract; however, many of these contracts contain auto-renewal provisions and the Company’s customer relationships can span multiple years. Under certain claims management agreements, the Company receives consideration from a customer at contract inception prior to transferring services to the customer, however, it would begin performing services immediately. The period between a customer’s payment of consideration and the completion of the promised services is generally less than one year. There is no difference between the amount of promised consideration and the cash selling price of the promised services. The fee is billed upfront by the Company to provide customers with simplified and predictable ways of purchasing its services. The patient management service line also offers case managers who provide administration services by proactively managing medical treatment for claimants while facilitating an understanding of, and participation in, their rehabilitation process. Revenue for case management services is recognized over time as the performance obligations are satisfied through the effort expended to manage the medical treatment for claimants and control of these services is transferred to the customer. Case management services are generally billed based on time incurred, are considered variable consideration, and revenue is recognized at the amount at which the Company has the right to invoice for services performed. The Company believes this approach reasonably reflects the transfer of the case management service to the customer. Network Solutions Service Line The network solutions service line consists primarily of medical bill review and third-party services. Medical bill review services provide an analysis of medical charges for customers’ claims to identify opportunities for savings. Medical bill review services revenues are recognized at a point in time when control of the service is transferred to the customer. Revenue is recognized based upon the transfer of the results of the medical bill review service to the customer as this is the most accurate depiction of the transfer of the service to the customer. Medical bill review revenues are variable, generally based on performance metrics set forth in the underlying contracts. Each period, the Company bases its estimates on a contract-by-contract basis. The Company makes its best estimate of amounts the Company has earned and expects to be collected using historical averages and other factors to project such revenues. Variable consideration is recognized when the Company concludes that it is probable that a significant revenue reversal will not occur in future periods. Third-party services revenue includes pharmacy, directed care services and other services, and includes amounts received from customers compensating the Company for certain third-party costs associated with providing its integrated network solutions services. The Company is considered the principal in these transactions as it directs the third party, controls the specified service, performs program utilization review, directs payment to the provider, accepts the financial risk of loss associated with services rendered, and combines the services provided into an integrated solution, as specified within the Company’s customer contracts. The Company has the ability to influence contractual fees with customers and possesses the financial risk of loss in certain contractual obligations. These factors indicate the Company is the principal and, as such, it is required to recognize revenue gross and service partner vendor fees in the operating expense in the Company’s consolidated income statements. The following table presents revenues disaggregated by service line for the three and nine months ended December 31, 2019 and December 31, 2018: Three Months Ended Three Months Ended December 31, 2019 December 31, 2018 Patient management services $ 98,326,000 $ 92,130,000 Network solutions services 49,766,000 53,952,000 Total services $ 148,092,000 $ 146,082,000 Nine Months Ended Nine Months Ended December 31, 2019 December 31, 2018 Patient management services $ 293,528,000 $ 271,966,000 Network solutions services 151,672,000 172,690,000 Total services $ 445,200,000 $ 444,656,000 Arrangements with Multiple Performance Obligations For many of the Company’s services, the Company typically has one performance obligation; however, it also provides the customer with an option to acquire additional services. The Company offers multiple services under its patient management and network solutions service lines. The Company typically provides a menu of offerings from which the customer may choose to purchase. The price of each service is separate and distinct and provides a separate and distinct value to the customer. Pricing is generally consistent for each service irrespective of the other services or quantities requested by the customer. Contract Balances The timing of revenue recognition, billings, and cash collections results in billed accounts receivables, contract assets (reported as unbilled revenues at estimated billable amounts), and contract liabilities (reported as deferred revenues) on the Company’s consolidated balance sheets. Unbilled revenues is a contract asset for revenue that has been recognized in advance of billing the customer, resulting from professional services delivered that the Company expects and is entitled to receive as consideration under certain contracts. Billing requirements vary by contract but substantially all unbilled revenues are billed within one year. December 31, 2019 March 31, 2019 Billed receivables $ 51,020,000 $ 58,410,000 Allowance for doubtful accounts (2,333,000 ) (5,508,000 ) Contract assets 17,500,000 18,434,000 Accounts receivable, net $ 66,187,000 $ 71,336,000 When the Company receives consideration from a customer prior to transferring services to the customer under the terms of certain claims management agreements, it records deferred revenues on the Company’s consolidated balance sheets, which represents a contract liability. Certain services, such as claims management, are provided under fixed-fee service agreements and require the Company to manage claims over a contract period, typically for one year with the option for auto renewal, with the fixed fee renewing on the anniversary date of such contracts. The Company recognizes deferred revenues as revenues when it performs services, transfers control of the services to the customer, and satisfies the performance obligation which it determines utilizing a portfolio approach. For all fixed fee service agreements, revenues are recognized over the expected service periods by type of claim. The table below presents the deferred revenues balance and the significant activity affecting deferred revenues during the nine months ended December 31, 2019: December 31, 2019 Beginning balance at April 1, 2019 (Note 9) $ 16,900,000 Additions 21,645,000 Revenue recognized from beginning of period (13,755,000 ) Revenue recognized from additions (7,957,000 ) Ending balance at December 31, 2019 (Note 9) $ 16,833,000 Remaining Performance Obligations As of December 31, 2019, the Company had $50.8 million of remaining performance obligations related to claims and non-claims services for which the price is fixed. Remaining performance obligations consist of deferred revenues as well as certain unbilled receivables that are considered contract assets. The Company expects to recognize approximately 61% of its remaining performance obligations as revenues within one year and the remaining balance thereafter. See the discussion below regarding the practical expedients elected for the disclosure of remaining performance obligations. Costs to Obtain a Contract The Company has an internal sales force compensation program where remuneration is based solely on the revenues recognized in the period and does not represent an incremental cost to the Company which provides a future benefit expected to be longer than one year and would meet the criteria to be capitalized and presented as a contract asset on the Company’s consolidated balance sheets. Practical Expedients Elected As a practical expedient, the Company does not adjust the consideration in a contract for the effects of a significant financing component. It expects, at contract inception, that the period between a customer’s payment of consideration and the transfer of promised services to the customer will be one year or less. For patient management services that are billed on a time-and-expense incurred or per unit basis and revenue is recognized over time, the Company recognizes revenue at the amount to which it has the right to invoice for services performed. The Company does not disclose the value of remaining performance obligations for (i) contracts for which it recognizes revenue at the amount to which it has the right to invoice for services performed, and (ii) contracts with variable consideration allocated entirely to a single performance obligation.

Stock-Based Compensation and St

Stock-Based Compensation and Stock Options	9 Months Ended
	Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation and Stock Options	Note 3 — Stock-Based Compensation and Stock Options Under the Company’s Restated Omnibus Incentive Plan (formerly the Restated 1988 Executive Stock Option Plan) (“the Plan”) as in effect at December 31, 2019, options exercisable for up to 19,865,000 shares of the Company’s common stock may be granted over the life of the Plan to key employees, non-employee directors, and consultants at exercise prices not less than the fair market value of the stock on the date of grant. Options granted under the Plan are non-statutory stock options and generally vest 25% one year from the date of grant with the remaining 75% vesting ratably each month for the next 36 months. The options granted to employees and the Company’s Board of Directors expire at the end of five years and ten years from the date of grant, respectively. All options granted in the nine months ended December 31, 2019 and 2018 were granted with an exercise price equal to the fair value of the Company’s common stock on the grant date and are non-statutory stock options. The Company records compensation expense for employee stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes option-pricing model with the assumptions included in the table below. The Company uses historical data, among other factors, to estimate the expected volatility, the expected dividend yield and the expected option life. The Company accounts for forfeitures as they occur, rather than estimating expected forfeitures. The risk-free rate is based on the interest rate paid on a U.S. Treasury issue with a term similar to the estimated life of the option. The following assumptions were used to estimate the fair value of options granted during the three months ended December 31, 2019 and 2018 using the Black-Scholes option-pricing model: Three Months Ended December 31, 2019 December 31, 2018 Risk-free interest rate 1.66% 2.96% Expected volatility 31% 36% Expected dividend yield 0.00% 0.00% Expected weighted average life of option in years 4.5 years 4.5 years For the three months ended December 31, 2019 and 2018, the Company recorded share-based compensation expense of $1,143,000 and $1,023,000, respectively. For the nine months ended December 31, 2019 and 2018, the Company recorded share-based compensation expense of $3,566,000 and $3,110,000. The table below shows the amounts recognized in the unaudited consolidated financial statements for stock compensation expense for time-based options and performance-based options during the three and nine months ended December 31, 2019 and 2018, respectively. Three Months Ended December 31, 2019 December 31, 2018 Cost of revenues $ 529,000 $ 465,000 General and administrative 614,000 558,000 Total cost of stock-based compensation included in income before income tax provision 1,143,000 1,023,000 Amount of income tax benefit recognized (271,000 ) (246,000 ) Amount charged against net income $ 872,000 $ 777,000 Effect on basic earnings per share $ (0.05 ) $ (0.04 ) Effect on diluted earnings per share $ (0.05 ) $ (0.04 ) Nine Months Ended December 31, 2019 December 31, 2018 Cost of revenues $ 1,531,000 $ 1,342,000 General and administrative 2,035,000 1,768,000 Total cost of stock-based compensation included in income before income tax provision 3,566,000 3,110,000 Amount of income tax benefit recognized (797,000 ) (746,000 ) Amount charged against net income $ 2,769,000 $ 2,364,000 Effect on basic earnings per share $ (0.15 ) $ (0.13 ) Effect on diluted earnings per share $ (0.15 ) $ (0.12 ) The following table summarizes information for all stock options for the three and nine months ended December 31, 2019 and 2018: Three Months Ended December 31, 2019 Three Months Ended December 31, 2018 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Options outstanding, beginning 990,064 $ 49.84 1,053,307 $ 41.81 Options granted 144,650 77.93 145,150 59.32 Options exercised (28,225 ) 44.28 (76,122 ) 41.73 Options cancelled/forfeited (6,975 ) 48.55 (808 ) 40.37 Options outstanding, ending 1,099,514 $ 53.66 1,121,527 $ 44.08 Nine Months Ended December 31, 2019 Nine Months Ended December 31, 2018 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Options outstanding, beginning 1,058,411 $ 45.17 1,064,439 $ 39.45 Options granted 242,125 78.43 261,750 56.72 Options exercised (185,173 ) 37.67 (197,230 ) 35.94 Options cancelled/forfeited (15,849 ) 52.13 (7,432 ) 44.51 Options outstanding, ending 1,099,514 $ 53.66 1,121,527 $ 44.08 The following table summarizes the status of stock options outstanding and exercisable at December 31, 2019: Range of Exercise Price Number of Outstanding Options Weighted Average Remaining Contractual Life Outstanding Options – Weighted Average Exercise Price Exercisable Options – Number of Exercisable Options Exercisable Options – Weighted Average Exercise Price $20.08 to $43.32 298,294 2.28 $ 31.58 230,010 $ 30.74 $43.33 to $57.75 391,449 3.19 52.58 146,627 50.72 $57.76 to $77.93 359,321 4.29 68.42 5,009 59.32 $77.94 to $87.49 50,450 6.09 87.49 — — Total 1,099,514 3.44 $ 53.66 381,646 $ 38.79 The following table summarizes the status of all outstanding options at December 31, 2019, and changes during the three months then ended: Number of Options Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value as of December 31, 2019 Options outstanding at October 1, 2019 990,064 $ 49.84 Granted 144,650 77.93 Exercised (28,225 ) 44.28 Cancelled – forfeited (5,811 ) 53.70 Cancelled – expired (1,164 ) 40.97 Ending outstanding 1,099,514 $ 53.66 3.44 $ 37,059,875 Ending vested and expected to vest 975,502 $ 42.79 3.04 $ 34,585,792 Ending exercisable at December 31, 2019 381,646 $ 38.79 2.63 $ 18,536,176 The weighted-average grant-date fair value of options granted during the three months ended December 31, 2019 and 2018, was $22.23 and $20.44, respectively. Included in the above-noted stock option grants and stock compensation expense are performance-based stock options that vest only upon the Company’s achievement of certain earnings per share targets on a calendar year basis, as determined by the Company’s Board of Directors. These options were valued in the same manner as the time-based options. However, the Company only recognizes stock compensation expense to the extent that the targets are determined to be probable of being achieved, which triggers the vesting of the performance options. The Company recognized $400,000 and $360,000 of stock compensation expense for the three months ended December 31, 2019 and 2018, respectively, for performance-based stock options. The Company recognized $1,413,000 and $1,201,000 of stock compensation expense for the nine months ended December 31, 2019 and 2018, respectively, for performance-based options.

Treasury Stock

Treasury Stock	9 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Treasury Stock	Note 4 — Treasury Stock The Company’s Board of Directors approved the commencement of a stock repurchase program in the fall of 1996. In February 2019, the Company’s Board of Directors approved a 1,000,000 share expansion to the Company’s existing stock repurchase program, increasing the total number of shares of the Company’s common stock approved for repurchase over the life of the program to 37,000,000 shares. Since the commencement of the stock repurchase program, the Company has spent $514 million on the repurchase of 36,052,141 shares of its common stock, equal to 67% of the outstanding common stock had there been no repurchases. The average price of these repurchases was $14.25 per share. These repurchases were funded primarily by the net earnings of the Company, along with proceeds from the exercise of common stock options. During the three and nine months ended December 31, 2019, the Company repurchased 240,026 shares of its common stock for $19.2 million at an average price of $79.98 per share and 588,903 shares of its common stock for $47.5 million at an average price of $82.66 per share, respectively. The Company had 18,152,615 shares of common stock outstanding as of December 31, 2019, net of the 36,052,141 shares in treasury. During the period subsequent to the quarter ended December 31, 2019, the Company repurchased 71,102 shares of its common stock for $6,599,000 at an average price of $92.80 per share under the Company’s stock repurchase program.

Weighted Average Shares and Net

Weighted Average Shares and Net Income Per Share	9 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Weighted Average Shares and Net Income Per Share	Note 5 — Weighted Average Shares and Net Income Per Share Basic weighted average common shares outstanding decreased to 18,253,000 for the quarter ended December 31, 2019 from 18,758,000 for the quarter ended December 31, 2018. Diluted weighted average common and common equivalent shares outstanding decreased to 18,526,000 for the quarter ended December 31, 2019 from 18,984,000 for the quarter ended December 31, 2018. Basic weighted average common shares outstanding decreased to 18,410,000 for the nine months ended December 31, 2019 from 18,852,000 for the nine months ended December 31, 2018. Diluted weighted average common and common equivalent shares outstanding decreased to 18,695,000 for the nine months ended December 31, 2019 from 19,058,000 for the nine months ended December 31, 2018. Net income per common and common equivalent share was computed by dividing net income by the weighted average number of common and common share equivalents outstanding during the period. The following table sets forth the calculations of the basic and diluted weighted average common shares for the three and nine months ended December 31, 2019 and 2018: Three Months Ended December 31, 2019 2018 Net Income $ 9,352,000 $ 10,298,000 Basic: Weighted average common shares outstanding 18,253,000 18,758,000 Net Income per share $ 0.51 $ 0.55 Diluted: Weighted average common shares outstanding 18,253,000 18,758,000 Treasury stock impact of stock options 273,000 226,000 Total common and common equivalent shares 18,526,000 18,984,000 Net Income per share $ 0.50 $ 0.54 Nine Months Ended December 31, 2019 2018 Net Income $ 35,630,000 $ 34,865,000 Basic: Weighted average common shares outstanding 18,410,000 18,852,000 Net Income per share $ 1.94 $ 1.85 Diluted: Weighted average common shares outstanding 18,410,000 18,852,000 Treasury stock impact of stock options 285,000 206,000 Total common and common equivalent shares 18,695,000 19,058,000 Net Income per share $ 1.91 $ 1.83

Shareholder Rights Plan

Shareholder Rights Plan	9 Months Ended
	Dec. 31, 2019
Text Block [Abstract]
Shareholder Rights Plan	Note 6 — Shareholder Rights Plan During fiscal year 1997, the Company’s Board of Directors approved the adoption of a shareholder rights plan (the “Shareholder Rights Plan”). The Shareholder Rights Plan provides for a dividend distribution to the Company’s shareholders of one preferred stock purchase right for each outstanding share of the Company’s common stock held by such shareholder (as used in this Note, the “right” or the “rights”), only in the event of certain takeover-related events. In November 2008, the Company’s Board of Directors approved an amendment to the Shareholder Rights Plan to extend the expiration date of the rights to February 10, 2022. The rights are designed to assure that all shareholders receive fair and equal treatment in the event of a proposed takeover of the Company, and to encourage a potential acquirer to negotiate with the Company’s Board of Directors prior to attempting a takeover. The rights are not exercisable until the occurrence of certain takeover-related events, at which time they can be exercised at an exercise price of $118 per share of common stock which carries the right, subject to subsequent adjustments. The rights trade with the Company’s common stock. Generally, the Shareholder Rights Plan provides that if a person or group acquires 15% or more of the Company’s common stock without the approval of the Company’s Board of Directors, subject to certain exceptions, the holders of the rights, other than the acquiring person or group, would, under certain circumstances, have the right to purchase additional shares of the Company’s common stock having a market value equal to two times the then-current exercise price of the right. In addition, if the Company is thereafter merged into another entity, or if 50% or more of the Company’s consolidated assets or earning power are sold, then the right will entitle its holder to buy common shares of the acquiring entity having a market value equal to two times the then-current exercise price of the right. The Company’s Board of Directors may exchange or redeem the rights under certain conditions.

Line of Credit

Line of Credit	9 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Line of Credit	Note 7 — Line of Credit The Company’s revolving credit facility expired in September 2019, and the Company chose not to renew its line of credit agreement with a financial institution.

Contingencies and Legal Proceed

Contingencies and Legal Proceedings	9 Months Ended
	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Contingencies and Legal Proceedings	Note 8 — Contingencies and Legal Proceedings The Company is involved in litigation arising in the ordinary course of business. Management believes that resolution of these matters will not result in any payment that, individually or in the aggregate, would be material to the consolidated financial position or results of operations of the Company.

Accounts and Taxes Payable and

Accounts and Taxes Payable and Accrued Liabilities	9 Months Ended
	Dec. 31, 2019
Payables And Accruals [Abstract]
Accounts and Taxes Payable and Accrued Liabilities	Note 9 — Accounts and Taxes Payable and Accrued Liabilities The following table sets forth accounts payable, income taxes payable, and accrued liabilities at December 31, 2019 and March 31, 2019: December 31, 2019 March 31, 2019 Accounts payable $ 17,412,000 $ 9,925,000 Income taxes payable and uncertain tax positions 3,247,000 1,553,000 Total accounts and taxes payable $ 20,659,000 $ 11,478,000 December 31, 2019 March 31, 2019 Payroll, payroll taxes and employee benefits $ 26,315,000 $ 23,647,000 Customer deposits 45,952,000 45,268,000 Accrued professional service fees 5,986,000 8,377,000 Self-insurance accruals 3,428,000 3,523,000 Deferred revenue 16,833,000 16,900,000 Operating lease liabilities 13,259,000 5,708,000 Other 3,293,000 2,018,000 Total accrued liabilities $ 115,066,000 $ 105,441,000

Leases

Leases	9 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Leases	Note 10 – Leases The Company determines if an arrangement is, or contains, a lease at contract inception. These lease agreements have remaining lease terms of 1 to 15 years. The Company recognizes a right-of-use (“ROU”) asset and a lease liability at the lease commencement date. The lease liability is initially measured at the present value of the unpaid lease payments as of the lease commencement date. Key estimates and judgments include how the Company determines (1) the discount rate it uses to discount the unpaid lease payments to present value, (2) the lease term, and (3) lease payments. ASC 842 requires a lessee to discount its unpaid lease payments using the interest rate implicit in the lease or, if that rate cannot be readily determined, its incremental borrowing rate. Generally, the Company cannot determine the interest rate implicit in the lease because it does not have access to the lessor's estimated residual value or the amount of the lessor's deferred initial direct costs. Therefore, the Company generally uses its incremental borrowing rate as the discount rate for the lease. The Company's incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. Because the Company does not generally borrow on a collateralized basis, it uses quoted interest rates obtained from financial institutions as an input to derive an appropriate incremental borrowing rate, adjusted for the amount of the lease payments, the lease term, and the effect on that rate of designating specific collateral with a value equal to the unpaid lease payments for that lease. The Company’s lease agreements may include options to extend the lease following the initial term. In most instances, the Company has determined that it is reasonably certain to exercise the option to renew; accordingly, these options are considered in determining the initial lease term. The Company has elected the practical expedient of hindsight in determining the option to renew. For lease agreements entered into or reassessed after the adoption of ASC 842, the Company has elected the practical expedient to account for the lease and non-lease components as a single lease component. Therefore, for those leases, the lease payments used to measure the lease liability include all of the fixed consideration in the contract. Variable lease payments associated with the Company’s leases are recognized upon occurrence of the event, activity, or circumstance in the lease agreement on which those payments are assessed. Leases with an initial term of 12 months or less are not recorded on the balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the lease term. The components of lease expense are as follows: Three Months Ended Nine Months Ended December 31, 2019 December 31, 2019 Operating lease expense $ 3,832,000 $ 11,270,000 Short-term lease expense 131,000 182,000 Variable lease expense 36,000 82,000 $ 3,999,000 $ 11,534,000 The following table presents the lease related assets and liabilities recorded on the Company’s consolidated balance sheets related to its operating leases: December 31, 2019 Right-of-use asset, net $ 93,541,000 Short-term lease liability $ 13,259,000 Long-term lease liability 87,587,000 Total lease liabilities $ 100,846,000 Weighted average remaining lease term 8.47 years Weighted average discount rate 4.0 % Supplemental cash flow information related to operating leases for the nine months ended December 31, 2019 were as follows: Cash paid for amounts included in the measurement of operating lease liabilities $ 11,270,000 Operating lease liabilities arising from obtaining ROU assets $ 110,441,000 Reductions to ROU assets resulting from reductions to operating lease liabilities $ 8,254,000 As of December 31, 2019, maturities of operating lease liabilities for each of the next five years and thereafter are as follows: 2020 $ 3,734,000 2021 14,922,000 2022 14,230,000 2023 14,307,000 2024 12,869,000 Thereafter 60,223,000 Total lease payments 120,285,000 Less interest (19,439,000 ) Total lease liabilities $ 100,846,000 As of December 31, 2019, the Company has approximately $4.6 million of additional operating lease commitments that have not yet commenced. These leases commence in 2020 and have lease terms between 2 years and 11 years.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The unaudited consolidated financial statements include the accounts of the Company and its subsidiaries. Significant intercompany accounts and transactions have been eliminated in consolidation. The unaudited consolidated financial statements herein have been prepared by CorVel Corporation (“the Company”) pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). The accompanying interim unaudited financial statements have been prepared under the presumption that users of the interim financial information have either read or have access to the audited consolidated financial statements for the latest fiscal year ended March 31, 2019. Accordingly, note disclosures which would substantially duplicate the disclosures contained in the March 31, 2019 audited consolidated financial statements have been omitted from these interim unaudited consolidated financial statements. The Company evaluated all subsequent events and transactions through the date of filing this report. Certain information and note disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Operating results for the three and nine months ended December 31, 2019 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2020. For further information, refer to the audited consolidated financial statements and notes thereto for the fiscal year ended March 31, 2019 included in the Company's Annual Report on Form 10-K filed with the SEC on June 7, 2019.
Recent Accounting Pronouncements	Recent Accounting Pronouncements: In June 2016, the FASB issued ASU 2016-13 regarding ASC Topic 326, “Measurement of Credit Losses on Financial Instruments”. The pronouncement changes the impairment model for most financial assets and will require the use of an "expected loss" model for instruments measured at amortized cost. Under this model, entities will be required to estimate the lifetime expected credit loss on such instruments and record an allowance to offset the amortized cost basis of the financial asset, resulting in a net presentation of the amount expected to be collected on the financial asset. Subsequently, the FASB issued an amendment to clarify the implementation dates and items that fall within the scope of this pronouncement. This standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are still evaluating the impact this guidance will have on our consolidated financial statements. In January 2017, the FASB issued ASU 2017-04 regarding ASC Topic 350, “Simplifying the Test for Goodwill Impairment”. The pronouncement simplifies the accounting for goodwill impairments by eliminating step two from the goodwill impairment test. Under this guidance, if the carrying amount of a reporting unit exceeds its estimated fair value, an impairment charge shall be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. This standard is effective for fiscal years beginning after December 15, 2019, with early adoption permitted. The adoption of this guidance will not have a material impact on our consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, “Simplifying the Accounting for Income Taxes”. The pronouncement simplifies the accounting for income taxes by removing certain exceptions to the general principles in ASC Topic 740, “Income Taxes”. The pronouncement also improves consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. This standard is effective for fiscal years beginning after December 15, 2020, with early adoption permitted. We are still evaluating the impact this guidance will have on our consolidated financial statements. Guidance Adopted: In February 2016, the FASB issued ASU No. 2016-02, “Leases”, which sets out the principles for the recognition, measurement, presentation, and disclosure of leases for both parties to a contract (i.e. lessees and lessors). The standard requires lessees to apply a dual approach, classifying leases as either finance or operating leases. This classification will determine whether the lease expense is recognized based on an effective interest method or on a straight-line basis over the term of the lease. A lessee is also required to record a right-of-use asset and a lease liability for all leases with a term of greater than 12 months regardless of their classification. Leases with a term of 12 months or less will be accounted for using an approach that is similar to the existing guidance for operating leases. The standard is to be applied using a modified retrospective transition method. The Company has adopted this standard as of April 1, 2019. The adoption of this standard did not have a material impact on retained earnings on the consolidated balance sheet and did not have a material impact on the consolidated statements of income. The Company elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed the Company to carry forward the historical assessments of whether contracts are or contain leases, lease classification, and initial direct costs. The Company implemented internal controls and key system functionality to enable the preparation of financial information on adoption. Refer to Note 10 of the accompanying consolidated financial statements for a description of the impact of this adopted guidance.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Dec. 31, 2019
Revenue Recognition [Abstract]
Schedule of Disaggregated Revenue by Service Line	The following table presents revenues disaggregated by service line for the three and nine months ended December 31, 2019 and December 31, 2018: Three Months Ended Three Months Ended December 31, 2019 December 31, 2018 Patient management services $ 98,326,000 $ 92,130,000 Network solutions services 49,766,000 53,952,000 Total services $ 148,092,000 $ 146,082,000 Nine Months Ended Nine Months Ended December 31, 2019 December 31, 2018 Patient management services $ 293,528,000 $ 271,966,000 Network solutions services 151,672,000 172,690,000 Total services $ 445,200,000 $ 444,656,000
Schedule of Accounts Receivable, Net	December 31, 2019 March 31, 2019 Billed receivables $ 51,020,000 $ 58,410,000 Allowance for doubtful accounts (2,333,000 ) (5,508,000 ) Contract assets 17,500,000 18,434,000 Accounts receivable, net $ 66,187,000 $ 71,336,000
Schedule of Deferred Revenues Balance and Significant Activity Affecting Deferred Revenues	The table below presents the deferred revenues balance and the significant activity affecting deferred revenues during the nine months ended December 31, 2019: December 31, 2019 Beginning balance at April 1, 2019 (Note 9) $ 16,900,000 Additions 21,645,000 Revenue recognized from beginning of period (13,755,000 ) Revenue recognized from additions (7,957,000 ) Ending balance at December 31, 2019 (Note 9) $ 16,833,000

Stock-Based Compensation and _2

Stock-Based Compensation and Stock Options (Tables)	9 Months Ended
	Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Fair Value of Options Granted	The following assumptions were used to estimate the fair value of options granted during the three months ended December 31, 2019 and 2018 using the Black-Scholes option-pricing model: Three Months Ended December 31, 2019 December 31, 2018 Risk-free interest rate 1.66% 2.96% Expected volatility 31% 36% Expected dividend yield 0.00% 0.00% Expected weighted average life of option in years 4.5 years 4.5 years
Stock Compensation Expense for Time Based Options and Performance Based Options	The table below shows the amounts recognized in the unaudited consolidated financial statements for stock compensation expense for time-based options and performance-based options during the three and nine months ended December 31, 2019 and 2018, respectively. Three Months Ended December 31, 2019 December 31, 2018 Cost of revenues $ 529,000 $ 465,000 General and administrative 614,000 558,000 Total cost of stock-based compensation included in income before income tax provision 1,143,000 1,023,000 Amount of income tax benefit recognized (271,000 ) (246,000 ) Amount charged against net income $ 872,000 $ 777,000 Effect on basic earnings per share $ (0.05 ) $ (0.04 ) Effect on diluted earnings per share $ (0.05 ) $ (0.04 ) Nine Months Ended December 31, 2019 December 31, 2018 Cost of revenues $ 1,531,000 $ 1,342,000 General and administrative 2,035,000 1,768,000 Total cost of stock-based compensation included in income before income tax provision 3,566,000 3,110,000 Amount of income tax benefit recognized (797,000 ) (746,000 ) Amount charged against net income $ 2,769,000 $ 2,364,000 Effect on basic earnings per share $ (0.15 ) $ (0.13 ) Effect on diluted earnings per share $ (0.15 ) $ (0.12 )
Stock Options	The following table summarizes information for all stock options for the three and nine months ended December 31, 2019 and 2018: Three Months Ended December 31, 2019 Three Months Ended December 31, 2018 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Options outstanding, beginning 990,064 $ 49.84 1,053,307 $ 41.81 Options granted 144,650 77.93 145,150 59.32 Options exercised (28,225 ) 44.28 (76,122 ) 41.73 Options cancelled/forfeited (6,975 ) 48.55 (808 ) 40.37 Options outstanding, ending 1,099,514 $ 53.66 1,121,527 $ 44.08 Nine Months Ended December 31, 2019 Nine Months Ended December 31, 2018 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Options outstanding, beginning 1,058,411 $ 45.17 1,064,439 $ 39.45 Options granted 242,125 78.43 261,750 56.72 Options exercised (185,173 ) 37.67 (197,230 ) 35.94 Options cancelled/forfeited (15,849 ) 52.13 (7,432 ) 44.51 Options outstanding, ending 1,099,514 $ 53.66 1,121,527 $ 44.08
Stock Options Outstanding and Exercisable	The following table summarizes the status of stock options outstanding and exercisable at December 31, 2019: Range of Exercise Price Number of Outstanding Options Weighted Average Remaining Contractual Life Outstanding Options – Weighted Average Exercise Price Exercisable Options – Number of Exercisable Options Exercisable Options – Weighted Average Exercise Price $20.08 to $43.32 298,294 2.28 $ 31.58 230,010 $ 30.74 $43.33 to $57.75 391,449 3.19 52.58 146,627 50.72 $57.76 to $77.93 359,321 4.29 68.42 5,009 59.32 $77.94 to $87.49 50,450 6.09 87.49 — — Total 1,099,514 3.44 $ 53.66 381,646 $ 38.79
Outstanding Options	The following table summarizes the status of all outstanding options at December 31, 2019, and changes during the three months then ended: Number of Options Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value as of December 31, 2019 Options outstanding at October 1, 2019 990,064 $ 49.84 Granted 144,650 77.93 Exercised (28,225 ) 44.28 Cancelled – forfeited (5,811 ) 53.70 Cancelled – expired (1,164 ) 40.97 Ending outstanding 1,099,514 $ 53.66 3.44 $ 37,059,875 Ending vested and expected to vest 975,502 $ 42.79 3.04 $ 34,585,792 Ending exercisable at December 31, 2019 381,646 $ 38.79 2.63 $ 18,536,176

Weighted Average Shares and N_2

Weighted Average Shares and Net Income Per Share (Tables)	9 Months Ended
	Dec. 31, 2019
Earnings Per Share [Abstract]
Calculations of Basic and Diluted Weighted Average Common Shares	The following table sets forth the calculations of the basic and diluted weighted average common shares for the three and nine months ended December 31, 2019 and 2018: Three Months Ended December 31, 2019 2018 Net Income $ 9,352,000 $ 10,298,000 Basic: Weighted average common shares outstanding 18,253,000 18,758,000 Net Income per share $ 0.51 $ 0.55 Diluted: Weighted average common shares outstanding 18,253,000 18,758,000 Treasury stock impact of stock options 273,000 226,000 Total common and common equivalent shares 18,526,000 18,984,000 Net Income per share $ 0.50 $ 0.54 Nine Months Ended December 31, 2019 2018 Net Income $ 35,630,000 $ 34,865,000 Basic: Weighted average common shares outstanding 18,410,000 18,852,000 Net Income per share $ 1.94 $ 1.85 Diluted: Weighted average common shares outstanding 18,410,000 18,852,000 Treasury stock impact of stock options 285,000 206,000 Total common and common equivalent shares 18,695,000 19,058,000 Net Income per share $ 1.91 $ 1.83

Accounts and Taxes Payable an_2

Accounts and Taxes Payable and Accrued Liabilities (Tables)	9 Months Ended
	Dec. 31, 2019
Payables And Accruals [Abstract]
Accounts Payable, Income Taxes Payable and Accrued Liabilities	The following table sets forth accounts payable, income taxes payable, and accrued liabilities at December 31, 2019 and March 31, 2019: December 31, 2019 March 31, 2019 Accounts payable $ 17,412,000 $ 9,925,000 Income taxes payable and uncertain tax positions 3,247,000 1,553,000 Total accounts and taxes payable $ 20,659,000 $ 11,478,000 December 31, 2019 March 31, 2019 Payroll, payroll taxes and employee benefits $ 26,315,000 $ 23,647,000 Customer deposits 45,952,000 45,268,000 Accrued professional service fees 5,986,000 8,377,000 Self-insurance accruals 3,428,000 3,523,000 Deferred revenue 16,833,000 16,900,000 Operating lease liabilities 13,259,000 5,708,000 Other 3,293,000 2,018,000 Total accrued liabilities $ 115,066,000 $ 105,441,000

Leases (Tables)

Leases (Tables)	9 Months Ended
	Dec. 31, 2019
Leases [Abstract]
Summary of Components of Lease Expense	The components of lease expense are as follows: Three Months Ended Nine Months Ended December 31, 2019 December 31, 2019 Operating lease expense $ 3,832,000 $ 11,270,000 Short-term lease expense 131,000 182,000 Variable lease expense 36,000 82,000 $ 3,999,000 $ 11,534,000
Summary of Lease Related Assets and Liabilities Recorded in Balance Sheet Related to Operating Leases	The following table presents the lease related assets and liabilities recorded on the Company’s consolidated balance sheets related to its operating leases: December 31, 2019 Right-of-use asset, net $ 93,541,000 Short-term lease liability $ 13,259,000 Long-term lease liability 87,587,000 Total lease liabilities $ 100,846,000 Weighted average remaining lease term 8.47 years Weighted average discount rate 4.0 %
Schedule of Supplemental Cash Flow Information Related to Operating Leases	Supplemental cash flow information related to operating leases for the nine months ended December 31, 2019 were as follows: Cash paid for amounts included in the measurement of operating lease liabilities $ 11,270,000 Operating lease liabilities arising from obtaining ROU assets $ 110,441,000 Reductions to ROU assets resulting from reductions to operating lease liabilities $ 8,254,000
Summary of Maturities of Operating Lease Liabilities	As of December 31, 2019, maturities of operating lease liabilities for each of the next five years and thereafter are as follows: 2020 $ 3,734,000 2021 14,922,000 2022 14,230,000 2023 14,307,000 2024 12,869,000 Thereafter 60,223,000 Total lease payments 120,285,000 Less interest (19,439,000 ) Total lease liabilities $ 100,846,000

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) $ in Millions	9 Months Ended
	Dec. 31, 2019USD ($)SegmentPerformanceObligation
Disaggregation Of Revenue [Line Items]
Accounts receivable due period	30 days
Number of reportable segments | Segment	1
Revenue recognition, number of performance obligation | PerformanceObligation	1
Latest duration of unbilled revenue, billing	1 year
Revenue, remaining performance obligation, amount | $	$ 50.8
Revenue, remaining performance obligation, percentage	61.00%
Revenue, remaining performance obligation, expected timing of satisfaction, explanation	The Company expects to recognize approximately 61% of its remaining performance obligations as revenues within one year and the remaining balance thereafter.
Capitalized contract cost, judgment	The Company has an internal sales force compensation program where remuneration is based solely on the revenues recognized in the period and does not represent an incremental cost to the Company which provides a future benefit expected to be longer than one year and would meet the criteria to be capitalized and presented as a contract asset on the Company’s consolidated balance sheets.
Period between consideration received and service rendered	one year or less
Patient Management Services [Member]
Disaggregation Of Revenue [Line Items]
Contract with customer, performance obligation, description	The Company’s obligation to manage claims and cases under the patient management service line can range from less than one year to multi-year contracts. They are generally one year under the terms of the contract; however, many of these contracts contain auto-renewal provisions and the Company’s customer relationships can span multiple years. Under certain claims management agreements, the Company receives consideration from a customer at contract inception prior to transferring services to the customer, however, it would begin performing services immediately. The period between a customer’s payment of consideration and the completion of the promised services is generally less than one year. There is no difference between the amount of promised consideration and the cash selling price of the promised services. The fee is billed upfront by the Company to provide customers with simplified and predictable ways of purchasing its services.
Patient Management Services [Member] | Minimum [Member]
Disaggregation Of Revenue [Line Items]
Revenue recognition, time elapsed for claims	3 months
Patient Management Services [Member] | Maximum [Member]
Disaggregation Of Revenue [Line Items]
Revenue recognition, time elapsed for claims	15 months

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Revenues Disaggregated by Service Line (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Disaggregation Of Revenue [Line Items]
Total services	$ 148,092,000	$ 146,082,000	$ 445,200,000	$ 444,656,000
Patient Management Services [Member]
Disaggregation Of Revenue [Line Items]
Total services	98,326,000	92,130,000	293,528,000	271,966,000
Network Solutions Services [Member]
Disaggregation Of Revenue [Line Items]
Total services	$ 49,766,000	$ 53,952,000	$ 151,672,000	$ 172,690,000

Revenue Recognition - Schedul_2

Revenue Recognition - Schedule of Accounts Receivable, Net (Detail) - USD ($)	Dec. 31, 2019	Mar. 31, 2019
Accounts Receivable Net Current [Abstract]
Billed receivables	$ 51,020,000	$ 58,410,000
Allowance for doubtful accounts	(2,333,000)	(5,508,000)
Contract assets	17,500,000	18,434,000
Accounts receivable, net	$ 66,187,000	$ 71,336,000

Revenue Recognition - Schedul_3

Revenue Recognition - Schedule of Deferred Revenues Balance and Significant Activity Affecting Deferred Revenues (Detail)	9 Months Ended
	Dec. 31, 2019USD ($)
Change In Contract With Customer Liability [Abstract]
Beginning balance at April 1, 2019 (Note 9)	$ 16,900,000
Additions	21,645,000
Revenue recognized from beginning of period	(13,755,000)
Revenue recognized from additions	(7,957,000)
Ending balance at December 31, 2019 (Note 9)	$ 16,833,000

Revenue Recognition - Additio_2

Revenue Recognition - Additional Information (Detail1)	Dec. 31, 2019
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2019-10-01
Disaggregation Of Revenue [Line Items]
Revenue, remaining performance obligation, expected recognition as revenue, period	1 year

Stock-Based Compensation and _3

Stock-Based Compensation and Stock Options - Additional Information (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-statutory stock options expiration period			5 years
Weighted-average grant-date fair value of options granted	$ 22.23	$ 20.44
Time Based Options and Performance Based Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,143,000	$ 1,023,000	$ 3,566,000	$ 3,110,000
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 400,000	$ 360,000	$ 1,413,000	$ 1,201,000
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-statutory stock options expiration period			10 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock grants	19,865,000		19,865,000
Non-statutory stock options vesting period			36 months
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-statutory stock options vesting period			1 year
Share-based Compensation Award, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Percentage			25.00%
Share-based Compensation Award, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting Percentage			75.00%

Stock-Based Compensation and _4

Stock-Based Compensation and Stock Options - Fair Value of Options Granted (Detail)	3 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Risk-free interest rate	1.66%	2.96%
Expected volatility	31.00%	36.00%
Expected dividend yield	0.00%	0.00%
Expected weighted average life of option in years	4 years 6 months	4 years 6 months

Stock-Based Compensation and _5

Stock-Based Compensation and Stock Options - Stock Compensation Expense for Time Based Options and Performance Based Options (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Effect on basic earnings per share	$ 0.51	$ 0.55	$ 1.94	$ 1.85
Effect on diluted earnings per share	$ 0.50	$ 0.54	$ 1.91	$ 1.83
Time Based Options and Performance Based Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total cost of stock-based compensation included in income before income tax provision	$ 1,143,000	$ 1,023,000	$ 3,566,000	$ 3,110,000
Amount of income tax benefit recognized	(271,000)	(246,000)	(797,000)	(746,000)
Amount charged against net income	$ 872,000	$ 777,000	$ 2,769,000	$ 2,364,000
Effect on basic earnings per share	$ (0.05)	$ (0.04)	$ (0.15)	$ (0.13)
Effect on diluted earnings per share	$ (0.05)	$ (0.04)	$ (0.15)	$ (0.12)
Time Based Options and Performance Based Options [Member] | Cost of Revenues [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total cost of stock-based compensation included in income before income tax provision	$ 529,000	$ 465,000	$ 1,531,000	$ 1,342,000
Time Based Options and Performance Based Options [Member] | General and Administrative [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total cost of stock-based compensation included in income before income tax provision	$ 614,000	$ 558,000	$ 2,035,000	$ 1,768,000

Stock-Based Compensation and _6

Stock-Based Compensation and Stock Options - Stock Options (Detail) - $ / shares	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Options outstanding, beginning balance, Shares	990,064	1,053,307	1,058,411	1,064,439
Options granted, Shares	144,650	145,150	242,125	261,750
Options exercised, Shares	(28,225)	(76,122)	(185,173)	(197,230)
Options cancelled/forfeited, Shares	(6,975)	(808)	(15,849)	(7,432)
Options outstanding, ending balance, Shares	1,099,514	1,121,527	1,099,514	1,121,527
Options outstanding, beginning balance, Weighted Average Exercise Price	$ 49.84	$ 41.81	$ 45.17	$ 39.45
Options granted, Weighted Average Exercise Price	77.93	59.32	78.43	56.72
Options exercised, Weighted Average Exercise Price	44.28	41.73	37.67	35.94
Options cancelled/forfeited, Weighted Average Exercise Price	48.55	40.37	52.13	44.51
Options outstanding, ending balance, Weighted Average Exercise Price	$ 53.66	$ 44.08	$ 53.66	$ 44.08

Stock-Based Compensation and _7

Stock-Based Compensation and Stock Options - Stock Options Outstanding and Exercisable (Detail) - $ / shares	9 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Mar. 31, 2018
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Number of Outstanding Options	1,099,514	990,064	1,058,411	1,121,527	1,053,307	1,064,439
Weighted Average Remaining Contractual Life	3 years 5 months 8 days
Outstanding Options – Weighted Average Exercise Price	$ 53.66	$ 49.84	$ 45.17	$ 44.08	$ 41.81	$ 39.45
Exercisable Options – Number of Exercisable Options	381,646
Exercisable Options – Weighted Average Exercise Price	$ 38.79
Range of Exercise Price, $20.08 to $43.32 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, lower limit	20.08
Range of Exercise Price, upper limit	$ 43.32
Number of Outstanding Options	298,294
Weighted Average Remaining Contractual Life	2 years 3 months 10 days
Outstanding Options – Weighted Average Exercise Price	$ 31.58
Exercisable Options – Number of Exercisable Options	230,010
Exercisable Options – Weighted Average Exercise Price	$ 30.74
Range of Exercise Price, $43.33 to $57.75 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, lower limit	43.33
Range of Exercise Price, upper limit	$ 57.75
Number of Outstanding Options	391,449
Weighted Average Remaining Contractual Life	3 years 2 months 8 days
Outstanding Options – Weighted Average Exercise Price	$ 52.58
Exercisable Options – Number of Exercisable Options	146,627
Exercisable Options – Weighted Average Exercise Price	$ 50.72
Range of Exercise Price, $57.76 to $77.93 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, lower limit	57.76
Range of Exercise Price, upper limit	$ 77.93
Number of Outstanding Options	359,321
Weighted Average Remaining Contractual Life	4 years 3 months 14 days
Outstanding Options – Weighted Average Exercise Price	$ 68.42
Exercisable Options – Number of Exercisable Options	5,009
Exercisable Options – Weighted Average Exercise Price	$ 59.32
Range of Exercise Price, $77.94 to $87.49 [Member]
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise Price, lower limit	77.94
Range of Exercise Price, upper limit	$ 87.49
Number of Outstanding Options	50,450
Weighted Average Remaining Contractual Life	6 years 1 month 2 days
Outstanding Options – Weighted Average Exercise Price	$ 87.49
Exercisable Options – Number of Exercisable Options	0
Exercisable Options – Weighted Average Exercise Price	$ 0

Stock-Based Compensation and _8

Stock-Based Compensation and Stock Options - Outstanding Options (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Options outstanding, beginning balance, Shares	990,064	1,053,307	1,058,411	1,064,439
Granted, Number of Options	144,650	145,150	242,125	261,750
Exercised, Number of Options	(28,225)	(76,122)	(185,173)	(197,230)
Cancelled - forfeited, Number of Options	(5,811)
Cancelled - expired, Number of Options	(1,164)
Options outstanding, ending balance, Shares	1,099,514	1,121,527	1,099,514	1,121,527
Ending vested and expected to vest, Number of Options	975,502		975,502
Ending exercisable, Number of Options	381,646		381,646
Options outstanding, beginning balance, Weighted Average Exercise Price	$ 49.84	$ 41.81	$ 45.17	$ 39.45
Granted, Weighted Average Exercise Price per Share	77.93	59.32	78.43	56.72
Exercised, Weighted Average Exercise Price per Share	44.28	41.73	37.67	35.94
Cancelled - forfeited, Weighted Average Exercise Price per Share	53.70
Cancelled - expired, Weighted Average Exercise Price per Share	40.97
Options outstanding, ending balance, Weighted Average Exercise Price	53.66	$ 44.08	53.66	$ 44.08
Ending vested and expected to vest, Weighted Average Exercise Price per Share	42.79		42.79
Ending exercisable, Weighted Average Exercise Price per Share	$ 38.79		$ 38.79
Option outstanding, Weighted Average Remaining Contractual Life (Years)	3 years 5 months 8 days
Ending vested and expected to vest, Weighted Average Remaining Contractual Life (Years)	3 years 14 days
Ending exercisable, Weighted Average Remaining Contractual Life (Years)	2 years 7 months 17 days
Option outstanding, Aggregate Intrinsic Value	$ 37,059,875		$ 37,059,875
Ending vested and expected to vest, Aggregate Intrinsic Value	34,585,792		34,585,792
Ending exercisable, Aggregate Intrinsic Value	$ 18,536,176		$ 18,536,176

Treasury Stock - Additional Inf

Treasury Stock - Additional Information (Detail) - USD ($)	Jan. 01, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2019	Feb. 28, 2019
Class of Stock [Line Items]
Number of shares of common stock authorized to repurchase		37,000,000		37,000,000			1,000,000
Treasury stock, value		$ 513,668,000		$ 513,668,000		$ 466,156,000
Treasury stock, shares		36,052,141		36,052,141		35,463,238
Average price per share of common stock		$ 79.98		$ 82.66
Common stock, shares outstanding		18,152,615		18,152,615		18,557,794
Number of shares of common stock repurchased		240,026		588,903
Treasury stock, value, acquired, cost method		$ 19,196,000	$ 11,289,000	$ 47,512,000	$ 22,591,000
Nineteen Ninety Six Share Repurchase Program [Member]
Class of Stock [Line Items]
Common stock equals to percentage of outstanding common stock				67.00%
Average price per share of common stock				$ 14.25
Subsequent Event [Member]
Class of Stock [Line Items]
Average price per share of common stock	$ 92.80
Number of shares of common stock repurchased	71,102
Treasury stock, value, acquired, cost method	$ 6,599,000

Weighted Average Shares and N_3

Weighted Average Shares and Net Income Per Share - Additional Information (Detail) - shares	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Basic weighted average common shares outstanding	18,253,000	18,758,000	18,410,000	18,852,000
Diluted weighted average common and common equivalent shares outstanding	18,526,000	18,984,000	18,695,000	19,058,000

Weighted Average Shares and N_4

Weighted Average Shares and Net Income Per Share - Calculations of Basic and Diluted Weighted Average Common Shares (Detail) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Net Income	$ 9,352,000	$ 10,298,000	$ 35,630,000	$ 34,865,000
Basic:
Weighted average common shares outstanding	18,253,000	18,758,000	18,410,000	18,852,000
Net Income per share	$ 0.51	$ 0.55	$ 1.94	$ 1.85
Diluted:
Weighted average common shares outstanding	18,253,000	18,758,000	18,410,000	18,852,000
Treasury stock impact of stock options	273,000	226,000	285,000	206,000
Total common and common equivalent shares	18,526,000	18,984,000	18,695,000	19,058,000
Net Income per share	$ 0.50	$ 0.54	$ 1.91	$ 1.83

Shareholder Rights Plan - Addit

Shareholder Rights Plan - Additional Information (Detail) - $ / shares	1 Months Ended	9 Months Ended
	Nov. 30, 2008	Dec. 31, 2019
Equity [Abstract]
Dividend distribution ratio of preferred share purchase right for outstanding share of common stock		100.00%
Shareholder rights expiration date	Feb. 10, 2022
Shareholder rights exercise price per share of common stock		$ 118
Shareholder Rights Plan, description of acquired entity		Shareholder Rights Plan provides that if a person or group acquires 15% or more of the Company’s common stock
Shareholder Rights Plan, percentage of acquired entity		15.00%
Shareholder Rights Plan, description of merged entity		Company is thereafter merged into another entity, or if 50% or more of the Company’s consolidated assets or earning power are sold, then the right will entitle its holder to buy common shares of the acquiring entity having a market value equal to two times the then-current exercise price of the right.
Shareholder Rights Plan, percentage of merged entity		50.00%

Line of Credit - Additional Inf

Line of Credit - Additional Information (Detail)	9 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
Line of credit facility expiration month year	2019-09

Accounts and Taxes Payable an_3

Accounts and Taxes Payable and Accrued Liabilities - Accounts Payable and Income Taxes Payable (Detail) - USD ($)	Dec. 31, 2019	Mar. 31, 2019
Payables And Accruals [Abstract]
Accounts payable	$ 17,412,000	$ 9,925,000
Income taxes payable and uncertain tax positions	3,247,000	1,553,000
Total accounts and taxes payable	$ 20,659,000	$ 11,478,000

Accounts and Taxes Payable an_4

Accounts and Taxes Payable and Accrued Liabilities - Accrued Liabilities (Detail) - USD ($)	Dec. 31, 2019	Mar. 31, 2019
Payables And Accruals [Abstract]
Payroll, payroll taxes and employee benefits	$ 26,315,000	$ 23,647,000
Customer deposits	45,952,000	45,268,000
Accrued professional service fees	5,986,000	8,377,000
Self-insurance accruals	3,428,000	3,523,000
Deferred revenue	16,833,000	16,900,000
Operating lease liabilities	13,259,000	5,708,000
Other	3,293,000	2,018,000
Total accrued liabilities	$ 115,066,000	$ 105,441,000

Leases - Additional Information

Leases - Additional Information (Detail) $ in Millions	9 Months Ended
	Dec. 31, 2019USD ($)
Lessee Lease Description [Line Items]
Additional operating lease commitments not yet commenced	$ 4.6
Minimum [Member]
Lessee Lease Description [Line Items]
Remaining lease term	1 year
Operating lease commitments not yet commenced, lease term	2 years
Maximum [Member]
Lessee Lease Description [Line Items]
Remaining lease term	15 years
Operating lease commitments not yet commenced, lease term	11 years

Leases - Summary of Components

Leases - Summary of Components of Lease Expense (Details) - USD ($)	3 Months Ended	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2019
Leases [Abstract]
Operating lease expense	$ 3,832,000	$ 11,270,000
Short-term lease expense	131,000	182,000
Variable lease expense	36,000	82,000
Lease expense	$ 3,999,000	$ 11,534,000

Leases - Summary of Lease Relat

Leases - Summary of Lease Related Assets and Liabilities Recorded in Balance Sheet Related to Operating Leases (Details) - USD ($)	Dec. 31, 2019	Mar. 31, 2019
Leases [Abstract]
Right-of-use asset, net	$ 93,541,000	$ 0
Short-term lease liability	13,259,000
Long-term lease liability	87,587,000	$ 0
Total lease liabilities	$ 100,846,000
Weighted average remaining lease term	8 years 5 months 19 days
Weighted average discount rate	4.00%

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information Related to Operating Leases (Detail)	9 Months Ended
	Dec. 31, 2019USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 11,270,000
Operating lease liabilities arising from obtaining ROU assets	110,441,000
Reductions to ROU assets resulting from reductions to operating lease liabilities	$ 8,254,000

Leases - Summary of Maturities

Leases - Summary of Maturities of Operating Lease Liabilities (Details)	Dec. 31, 2019USD ($)
Operating Lease Liabilities Payments Due [Abstract]
2020	$ 3,734,000
2021	14,922,000
2022	14,230,000
2023	14,307,000
2024	12,869,000
Thereafter	60,223,000
Total lease payments	120,285,000
Less interest	(19,439,000)
Total lease liabilities	$ 100,846,000