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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