STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Dec. 31, 2013

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

Summary schedule of stock option activity

ption activity for the nine months ended December 31, 2013 was as follows:

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Options outstanding, beginning of period	1,249,585		$	54.90
Granted during period	196,860		89.03
Exercised during period	(172,755	)	38.82
Forfeited during period	(60,220	)	66.73
Expired during period	(740	)	32.62
Options outstanding, end of period	1,212,730		$	62.16	7.80	$	31,076,373
Options exercisable, end of period	329,000		$	44.12	5.75	$	14,280,979

Intrinsic value of options exercised

The total intrinsic value of options exercised during the periods ended December 31, 2013 and 2012 was as follows:

	December 31, 2013		December 31, 2012
Three months ended	$	6,821,396	$	5,377,474
Nine months ended	$	8,972,609	$	10,327,163

Shares vesting based on the compounded annual EPS growth

The remaining unforfeited 319,700 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 15,871 shares vested on April 30, 2013

The remaining unforfeited 59,800 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%

The remaining unforfeited 7,275 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%

Summary of the status and changes restricted stock

A summary of the status of the Company’s restricted stock as of December 31, 2013, and changes during the nine months ended December 31, 2013, are presented below:

	Shares		Weighted Average Fair Value at Grant Date
Outstanding at March 31, 2013	562,456		$	73.32
Granted during the period	35,250		87.66
Vested during the period	(27,106	)	53.26
Forfeited during the period	(90,589	)	74.93
Outstanding at December 31, 2013	480,011		$	75.20

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, 2013 and 2012 was as follows:

	Three months ended December 31,			Nine months ended December 31,
	2013		2012	2013		2012
Share-based compensation related to equity classified awards:
Share-based compensation related to stock options	$	2,884,602	2,370,084	$	8,024,370	4,863,099
Share-based compensation related to restricted stock units	257,758		1,012,904	4,364,474		2,848,405
Total share-based compensation related to equity classified awards	$	3,142,360	3,382,988	$	12,388,844	7,711,504