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Benefit Plans (Tables)
12 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of performance shares, activity The Performance Share performance targets are set forth below.
Trailing 4-Quarter EPS Targets for
September 30, 2018 through March 31, 2025
Restricted Stock Eligible for Vesting
(Percentage of Award)
$16.3540%
$20.4560%
The Performance Option performance target is set forth below.
Trailing 4-Quarter EPS Targets for
September 30, 2018 through March 31, 2025
Options Eligible for Vesting
(Percentage of Award)
$25.30100%
Schedule of weighted-average assumptions This fair value was estimated at grant date using the weighted-average assumptions listed below.
 202120202019
Dividend yield0 %%%
Expected volatility57.53 %52.28 %48.94 %
Average risk-free interest rate0.59 %1.58 %3.01 %
Expected life6.3 years6.3 years6.7 years
Summary schedule of stock option activity Option activity for the year ended March 31, 2021 was as follows:
 SharesWeighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual Term
Aggregate
Intrinsic
Value
Options outstanding, beginning of year646,728 $88.30   
Granted38,473 109.30   
Exercised(165,237)74.25   
Forfeited(18,666)105.14   
Expired(1,130)103.75   
Options outstanding, end of period500,168 $93.89 6.29$18,080,095 
Options exercisable, end of period213,095 $81.47 4.11$10,300,232 
Intrinsic value of options exercised The total intrinsic value of options exercised during the years ended March 31, 2021, 2020, and 2019 was as follows:
202120202019
$9,996,167$5,083,094$4,433,495
Summary of the status and changes restricted stock
A summary of the status of the Company’s restricted stock as of March 31, 2021 and changes during the year ended March 31, 2021, are presented below:
 SharesWeighted Average Fair
Value at Grant Date
Outstanding at March 31, 2020705,254 $101.47 
Granted during the period52,735 106.28 
Vested during the period(83,250)101.17 
Forfeited during the period(60,000)100.79 
Outstanding at March 31, 2021614,739 $101.99 
Share-based compensation included as a component of net income
Total stock-based compensation included as a component of net income during the years ended March 31, 2021, 2020, and 2019 was as follows:
 202120202019
Stock-based compensation related to equity classified units: 
Stock-based compensation related to stock options$3,804,674 5,522,883 3,991,967 
Stock-based compensation related to restricted stock15,476,603 23,429,277 13,643,343 
Total stock-based compensation related to equity classified awards$19,281,277 28,952,160 17,635,310