STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Dec. 31, 2012

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

Schedule of weighted-average assumptions

This fair value was estimated at grant date using the weighted-average assumptions listed below.

	Three months ended December 31,		Nine months ended December 31,
	2012	2011	2012	2011
Dividend yield	—%	—%	—%	—%
Expected volatility	56.15%	56.85%	56.15%	56.85%
Average risk-free interest rate	0.80%	1.12%	0.80%	1.12%
Expected life	5.6 years	6.0 years	5.6 years	6.0 years
Vesting period	5.0 years	5.0 years	5.0 years	5.0 years

Summary schedule of stock option activity

Option activity for the nine months ended December 31, 2012 was as follows:

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Options outstanding, beginning of year	1,041,500		$	37.95
Granted	556,000		71.40
Exercised	(249,035	)	28.59
Forfeited	(10,850	)	45.82
Expired	(300	)	43.04
Options outstanding, end of period	1,337,315		$	53.53	8.08	$	28,118,105
Options exercisable, end of period	291,055		$	33.35	5.10	$	11,993,350

Intrinsic value of options exercised

The total intrinsic value of options exercised during the periods ended December 31, 2012 and 2011 was as follows:

	December 31, 2012		December 31, 2011
Three months ended	$	5,377,474	$	7,051,893
Nine months ended	$	10,327,163	$	9,452,314

Shares vesting based on the compounded annual EPS growth

The 15,871 shares will vest on April 30, 2013 based on the Company’s compounded annual EPS growth according to the following schedule:

Vesting Percentage	Compounded Annual EPS Growth
100%	15% or higher
67%	12% - 14.99%
33%	10% - 11.99%
0%	Below 10%

The 358,700 shares will vest as follows, if the Company achieves the following performance goals during any successive trailing four quarters during the measurement period beginning on October 1, 2012 and ending March 31, 2017:

Trailing 4 quarter EPS Target	Restricted Shares Eligible for Vesting (Percentage of Award)
$13.00	25%
$14.50	25%
$16.00	25%
$18.00	25%

The 11,139 shares will vest on April 30, 2014 based on the Company’s compounded annual EPS growth according to the following schedule:

Vesting Percentage	Compounded Annual EPS Growth
100%	15% or higher
67%	12% - 14.99%
33%	10% - 11.99%
0%	Below 10%

The 70,800 shares will vest on April 30, 2015 based on the Company’s achievement of the following performance goals as of March 31, 2015:

EPS Target	Restricted Shares Eligible for Vesting (Percentage of Award)
$10.29	100%
$9.76	67%
$9.26	33%
Below $9.26	0%

Summary of the status and changes restricted stock

A summary of the status of the Company’s restricted stock as of December 31, 2012, and changes during the nine months ended December 31, 2012, are presented below:

	Shares		Weighted Average Fair Value at Grant Date
Outstanding at March 31, 2012	93,999		$	50.90
Granted during the period	439,500		73.89
Vested during the period, net of cancellations	(41,285	)	46.30
Canceled during the period	(14,758	)	41.51
Outstanding at December 31, 2012	477,456		$	72.61

Share-based compensation included as a component of net income

Total share-based compensation included as a component of net income during the three months and nine months ended December 31, 2012 and 2011 was as follows:

	Three months ended December 31,			Nine months ended December 31,
	2012		2011	2012	2011
Share-based compensation related to equity classified units:
Share-based compensation related to stock options	$	2,370,084	2,050,346	4,863,099	3,716,308
Share-based compensation related to restricted stock units	1,012,904		848,506	2,848,405	2,296,183
Total share-based compensation related to equity classified awards	$	3,382,988	2,898,852	7,711,504	6,012,491