Note G — Treasury Stock

During each of the fiscal years in the three fiscal year period ended March 31, 2016, the Company continued to repurchase shares of its common stock under a plan originally approved by the Company’s Board of Directors in 1996. Including a 1,000,000 share expansion authorized in November 2015, the total number of shares of common stock authorized to be repurchased over the life of the plan is 35,000,000 shares of common stock. Purchases may be made from time to time depending on market conditions and other relevant factors. The share repurchases for fiscal years ended March 31, 2014, 2015 and 2016 and cumulatively since inception of the authorization are as follows:


	2014		2015		2016		Cumulative
Shares repurchased		830,460		845,014		893,771		33,886,000
Cost	$	27,179,000	$	31,798,000	$	31,525,000	$	391,803,000
Average price	$	32.73	$	37.63	$	35.27	$	11.56

During the period subsequent to March 31, 2016, through the date of filing this report, the Company repurchased 26,555 shares for $1.1 million or an average of $42.71 per share. The repurchased shares were recorded as treasury stock, at cost, and are available for general corporate purposes. The repurchases were primarily financed from cash generated from operations and from the cash proceeds from the exercise of stock options.