STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Jun. 30, 2012

Summary schedule of stock option activity rollforward

Option activity for the three months ended June 30, 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		-			-
Exercised		(67,450	)		27.35
Forfeited		(6,400	)		48.85
Expired		(300	)		43.04
Options outstanding, end of period		967,350		$	38.61		7.02	$	26,708,037
Options exercisable, end of period		224,040		$	27.58		3.89	$	8,563,013

Intrinsic value of options exercised

The aggregate intrinsic value reflected in the table above represents the total pre-tax intrinsic value (the difference between the closing stock price on June 30, 2012 and the exercise price, multiplied by the number of in-the-money options) that would have been received by option holders had all option holders exercised their options as of June 30, 2012. This amount will change as the stock's market price changes. The total intrinsic value of options exercised during the periods ended June 30, 2012 and 2011 was as follows:

	June 30,		June 30,
	2012		2011
Three months ended	$	2,739,530	$	1,576,465

Shares vesting based on the compounded annual EPS growth

On November 7, 2011, the Company granted 15,077 shares of restricted stock (which are equity classified), with a grant date fair value of $67.70 per share, to certain executive officers. One-third of the restricted stock vested immediately and one-third will vest on November 7, 2012 and 2013, respectively. On that same date, the Company granted an additional 24,200 shares of restricted stock (which are equity classified), with a grant date fair value of $67.70 per share, to certain officers. One-third of the restricted stock will vest on November 7, 2012, 2013 and 2014, respectively. On that same date, the Company granted an additional 11,139 shares of restricted stock (which are equity classified), with a grant date fair value of $67.70 per share, to certain executive officers. The 11,139 shares will vest on April 30, 2014 based on the Company's compounded annual EPS growth according to the following schedule:

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

On April 29, 2011, the Company granted 10,000 shares of restricted stock (which are equity classified) with a grant date fair value of $67.95 per share to its independent directors. All of the shares granted vested immediately.

On November 8, 2010, the Company granted 29,080 shares of restricted stock (which are equity classified), with a grant date fair value of $43.04 per share, to certain officers. One-third of the restricted stock vested immediately and one-third vested on November 8, 2011 and the final third is scheduled to vest on November 8, 2012, respectively. On that same date, the Company granted an additional 15,871 shares of restricted stock (which are equity classified), with a grant date fair value of $43.04 per share, to certain executive officers. The 15,871 shares will vest on April 30, 2013 based on the Company's compounded annual EPS growth according to the following schedule:

	Compounded
Vesting	Annual
Percentage	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 June 30, 2012, and changes during the quarter ended June 30, 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		10,000			66.51
Vested during the period, net of cancellations		(25,413	)		30.26
Cancelled during the period		(7,746	)		66.51
Outstanding at June 30, 2012		70,840		$	58.81

Share-based compensation included as a component of net income

Total share-based compensation included as a component of net income during the quarters ended June 30, 2012 and 2011 was as follows:

	2012		2011
Share-based compensation related to equity classified awards:
Share-based compensation related to stock options	$	1,172,910		868,271
Share-based compensation related to restricted stock		1,193,003		1,040,007

Total share-based compensation related to equity classified awards	$	2,365,913		1,908,278