STOCK OPTION PLANS (Tables)
|
12 Months Ended |
Mar. 31, 2022 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] |
|
Weighted-Average Assumptions Used to Value Option Awards |
The weighted-average assumptions used in the Black-Scholes model to value the option awards in fiscal 2022 and 2021 are as follows:
|
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
2021 |
|
Dividend Yield |
|
|
0.8 |
% |
|
|
0.0 |
% |
Expected Volatility |
|
|
38.4 |
% |
|
|
37.9 |
% |
Risk-Free Interest Rate |
|
|
1.00 |
% |
|
|
0.44 |
% |
Expected Life |
|
6.0 years |
|
|
6.0 years |
|
|
Stock Option Activity |
The following table shows stock option activity for the years presented:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Years Ended March 31, |
|
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
|
Number of Shares |
|
|
Weighted- Average Exercise Price |
|
|
Number of Shares |
|
|
Weighted- Average Exercise Price |
|
|
Number of Shares |
|
|
Weighted- Average Exercise Price |
|
Outstanding Options at Beginning of Year |
|
|
708,501 |
|
|
$ |
83.85 |
|
|
|
1,160,091 |
|
|
$ |
80.36 |
|
|
|
1,042,925 |
|
|
$ |
76.88 |
|
Granted |
|
|
11,316 |
|
|
$ |
140.42 |
|
|
|
187,121 |
|
|
$ |
61.92 |
|
|
|
187,375 |
|
|
$ |
91.58 |
|
Exercised |
|
|
(247,578 |
) |
|
$ |
86.97 |
|
|
|
(623,617 |
) |
|
$ |
70.57 |
|
|
|
(62,326 |
) |
|
$ |
88.28 |
|
Cancelled |
|
|
(15,390 |
) |
|
$ |
76.63 |
|
|
|
(15,094 |
) |
|
$ |
92.51 |
|
|
|
(7,883 |
) |
|
$ |
102.69 |
|
Outstanding Options at End of Year |
|
|
456,849 |
|
|
$ |
83.81 |
|
|
|
708,501 |
|
|
$ |
83.85 |
|
|
|
1,160,091 |
|
|
$ |
80.36 |
|
Options Exercisable at End of Year |
|
|
314,624 |
|
|
|
|
|
|
416,817 |
|
|
|
|
|
|
868,081 |
|
|
|
|
Weighted-Average Fair Value of Options Granted During the Year |
|
|
|
|
$ |
49.18 |
|
|
|
|
|
$ |
22.68 |
|
|
|
|
|
$ |
27.35 |
|
|
Stock Options Outstanding |
The following table summarizes information about stock options outstanding at March 31, 2022:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Options Outstanding |
|
|
Options Exercisable |
|
Range of Exercise Prices |
|
Number of Shares Outstanding |
|
|
Weighted- Average Remaining Contractual Life |
|
|
Weighted- Average Exercise Price |
|
|
Number of Shares Outstanding |
|
|
Weighted- Average Exercise Price |
|
$33.69 - $37.34 |
|
|
5,800 |
|
|
|
0.20 |
|
|
$ |
35.46 |
|
|
|
5,800 |
|
|
$ |
35.46 |
|
$59.32 - $81.56 |
|
|
179,192 |
|
|
|
7.15 |
|
|
$ |
63.43 |
|
|
|
92,382 |
|
|
$ |
65.88 |
|
$87.37 - $93.03 |
|
|
156,131 |
|
|
|
6.69 |
|
|
$ |
91.44 |
|
|
|
113,803 |
|
|
$ |
91.40 |
|
$99.37 - $143.09 |
|
|
115,726 |
|
|
|
6.23 |
|
|
$ |
107.49 |
|
|
|
102,639 |
|
|
$ |
105.81 |
|
|
|
|
456,849 |
|
|
|
6.67 |
|
|
$ |
83.81 |
|
|
|
314,624 |
|
|
$ |
87.57 |
|
|
Summary of Activity for Nonvested Restricted Shares |
The following table summarizes the activity for nonvested restricted shares during the fiscal years ended March 31, 2022, 2021, and 2020:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Years Ended March 31, |
|
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
|
Number of Shares |
|
|
Weighted- Average Grant Date Fair Value |
|
|
Number of Shares |
|
|
Weighted- Average Grant Date Fair Value |
|
|
Number of Shares |
|
|
Weighted- Average Grant Date Fair Value |
|
Nonvested Restricted Stock at Beginning of Year |
|
|
267,090 |
|
|
$ |
62.56 |
|
|
|
233,120 |
|
|
$ |
75.35 |
|
|
|
300,115 |
|
|
$ |
78.94 |
|
Granted |
|
|
113,414 |
|
|
$ |
139.91 |
|
|
|
179,377 |
|
|
$ |
63.83 |
|
|
|
118,292 |
|
|
$ |
90.08 |
|
Vested |
|
|
(116,507 |
) |
|
$ |
87.47 |
|
|
|
(136,280 |
) |
|
$ |
78.89 |
|
|
|
(169,347 |
) |
|
$ |
92.98 |
|
Cancelled |
|
|
(5,218 |
) |
|
$ |
75.10 |
|
|
|
(9,127 |
) |
|
$ |
71.46 |
|
|
|
(15,940 |
) |
|
$ |
58.64 |
|
Nonvested Restricted Stock at End of Year |
|
|
258,779 |
|
|
$ |
102.45 |
|
|
|
267,090 |
|
|
$ |
62.56 |
|
|
|
233,120 |
|
|
$ |
75.35 |
|
|