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Stock-Based Compensation (Tables)
6 Months Ended
Sep. 30, 2015
Share-based Compensation [Abstract]  
Schedule of Fair Value of Options Granted
The following weighted-average assumptions were used for the PSUs granted during the six months ended September 30, 2015:
 
Six Months Ended September 30, 2015
Expected volatility factor
31
%
Weighted-average risk-free interest rate
1.01
%
Expected dividend rate
0.0
%
Stock option fair value
$32.06
The fair value of each option granted under the Plan during the six months ended September 30, 2015 was estimated on the grant date using the Black-Scholes valuation model utilizing the following weighted-average assumptions:
 
Six Months Ended September 30, 2015
Expected option term (in years)
6.5
Expected volatility factor
24%
Weighted-average risk-free interest rate
1.86%
Expected dividend rate
0.0%
Stock option fair value
$7.41
Schedule of Stock Option Activity
A summary of RSU activity during the six months ended September 30, 2015 is as follows:
 
Period Ending
 
September 30, 2015
 
Shares
 
Weighted Avg. Exercise Price
Nonvested RSUs at beginning of period
53,813

 
$
29.06

Granted
69,815

 
25.77

Vested
(10,728
)
 
29.31

Canceled/Forfeited
(5,019
)
 
28.13

Nonvested RSUs at end of period
107,881

 
$
26.99

The following table presents the Company's stock option activity during the first six months of fiscal 2016 and 2015, respectively:
 
Six Months Ended
 
September 30, 2015
 
September 30, 2014
 
Shares
 
Weighted Avg. Exercise Price
 
Shares
 
Weighted Avg. Exercise Price
Number of shares under option:
 
 
 
 
 
 
 
Outstanding at beginning of period
8,588,518

 
$
13.04

 
8,652,834

 
$
10.79

Granted
873,595

 
25.77

 
952,898

 
28.56

Exercised
(173,484
)
 
7.16

 
(601,781
)
 
5.66

Canceled/Forfeited
(230,301
)
 
22.57

 
(317,980
)
 
20.61

Outstanding at end of period (1)
9,058,328

 
14.16

 
8,685,971

 
12.73

Exercisable at end of period (2)
5,694,839

 
$
8.48

 
4,819,285

 
$
5.50

______________________
(1)
The weighted average remaining contractual life of options outstanding at September 30, 2015 is 4.9 years.
(2)
The weighted average remaining contractual life of options exercisable at September 30, 2015 is 3.0 years.