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Stock-Based Compensation (Tables)
 12 Months Ended
Mar. 31, 2021
Share-based Payment Arrangement [Abstract]  
Schedule of Nonvested Stock Units Activity
The Company granted annual awards under the 2015 SIP, as recorded in the consolidated statements of comprehensive income, as summarized below:

Years Ended March 31,
202120202019
Shares GrantedWeighted-average grant date fair value per shareShares GrantedWeighted-average grant date fair value per shareShares GrantedWeighted-average grant date fair value per share
Annual RSUs47,015 $220.31 47,577 $171.50 62,743 $116.85 
Annual PSUs— — 19,938 174.36 31,320 116.34 
Total47,015 $220.31 67,515 $172.34 94,063 $116.68 

Annual award activity recorded in the consolidated statements of comprehensive income, were as follows:

Number of
Shares		Weighted-
Average
Grant-Date
Fair Value
Nonvested, March 31, 2018289,297 $65.18 
Granted94,063 116.68 
Vested(118,903)(64.39)
Forfeited(33,058)(77.60)
Nonvested, March 31, 2019231,399 84.75 
Granted67,515 172.34 
Vested(121,572)(76.81)
Forfeited(14,993)(113.49)
Nonvested, March 31, 2020162,349 124.47 
Granted47,015 220.31 
Vested(92,614)(104.92)
Forfeited(3,664)(147.34)
Nonvested, March 31, 2021113,086 $179.58 
LTIP award activity recorded in the consolidated statements of comprehensive income, were as follows:
Number of
Shares		Weighted-
Average
Grant-Date
Fair Value
Nonvested, March 31, 2018— $— 
Granted*83,586 120.24 
Forfeited(6,488)(120.24)
Nonvested, March 31, 201977,098 120.24 
Granted*76,348 146.96 
Nonvested, March 31, 2020153,446 133.53 
Granted*39,780 376.45 
Vested(77,098)(106.37)
Nonvested, March 31, 2021116,128 $215.30 

*The amounts granted are the maximum amounts under the terms of the applicable LTIP PSUs.
Schedule of LTIP Option Activity
LTIP option activity recorded in the consolidated statements of comprehensive income, were as follows:

Number of
Shares		Weighted-
Average
Grant-Date
Fair Value		Weighted-
Average
Remaining
Contractual
Term
(Years)		Aggregate
Intrinsic
Value
Nonvested, March 31, 2018397,340 $65.70 7.1$9,666 
Forfeited(35,957)(69.29)
Nonvested, March 31, 2019361,383 65.35 6.229,504 
Exercised(58,444)(61.86)
Nonvested, March 31, 2020302,939 66.02 5.020,594 
Exercised(107,197)(63.20)
Nonvested, March 31, 2021195,742 $67.56 3.6$51,452 
Schedule of LTIP Valuation Assumptions
The Company measured stock-based compensation expense for the 2018 LTIP NQSOs at the date of grant using the Black-Scholes option pricing model, with the following weighted-average valuation assumptions:

2018 LTIP NQSOs
Expected life (in years)4.90
Expected volatility38.73 %
Risk free interest rate1.78 %
Dividend yield— %
Weighted-average exercise price$69.29 
Weighted-average option value$25.03 
Schedule of Stock Compensation Expense Components of stock-based compensation expense recorded in the consolidated statements of comprehensive income, were as follows:
Years Ended March 31,
202120202019
Annual RSUs$7,820 $6,509 $6,588 
Annual PSUs1,900 2,851 2,373 
LTIP PSUs11,555 2,203 885 
LTIP NQSOs— 1,641 3,516 
Grants to Directors1,195 1,045 1,223 
Employee Stock Purchase Plan231 228 189 
Total stock-based compensation expense, pre-tax22,701 14,477 14,774 
Income tax benefit (5,441)(3,308)(3,546)
Total stock-based compensation expense, net of tax$17,260 $11,169 $11,228 
Employee Stock Purchase Plan. The 2015 Employee Stock Purchase Plan (ESPP) authorizes 1,000,000 shares of the Company’s common stock for sale to eligible employees using their after-tax payroll deductions, which are refundable until purchases are made, and are liability-classified. ESPP shares are excluded from basic earnings per share until purchases are made, while included in diluted earnings per share computations as after-tax payroll deductions are made. Each consecutive purchase period is six months (purchase period) in duration and shares are purchased on the last trading day of the purchase period (no look-back provision) for a fixed amount at a 15% discount to the closing price on that date. Purchase windows take place in February and August of each fiscal year. The net difference between the timing of compensation expense incurred and remeasured during the purchase period and purchase windows are recorded in other accrued expenses in the consolidated balance sheets.
Schedule of Unrecognized Compensation Expense Total remaining unrecognized stock-based compensation expense as of March 31, 2021 related to non-vested awards that the Company considers probable to vest and the weighted-average period over which the cost is expected to be recognized in future periods, are as follows:
Unrecognized
Stock-based Compensation
Expense		Weighted-Average
Remaining
Vesting Period (Years)
Annual RSUs$8,911 1.1
Annual PSUs842 0.7
LTIP PSUs14,645 1.4
Total$24,398