SHARE-BASED EMPLOYEE COMPENSATION (Tables)

9 Months Ended

Dec. 31, 2023

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Period and vesting of performance shares

The stock option performance periods are as follows:

	Options		Performance Period	Vesting Date
One-Year Performance Shares		574	April 1, 2023 to March 31, 2024	May 2024
Two-Year Performance Shares		574	April 1, 2023 to March 31, 2025	May 2025
Three-Year Performance Shares		1,148	April 1, 2023 to March 31, 2026	May 2026

Weighted-Average Assumptions Used to Value Option Awards

The weighted-average assumptions used in the Black-Scholes model to value the option awards for fiscal 2024 are as follows:

Dividend Yield		0.8	%
Expected Volatility		38.8	%
Risk-Free Interest Rate		3.7	%
Expected Life	6.0 years

Stock Option Activity

The following table represents stock option activity for the nine months ended December 31, 2023:

	Number of Shares			Weighted- Average Exercise Price
Outstanding Options at March 31, 2023		436,949		$	89.69
Granted		5,558		$	172.62
Exercised		(131,099	)	$	88.17
Cancelled		(1,000	)	$	73.37
Outstanding Options at December 31, 2023		310,408		$	91.86
Options Exercisable at December 31, 2023		215,822
Weighted-Average Fair Value of Options Granted During the Year	$	69.84

Stock Options Outstanding

The following table summarizes information about stock options outstanding at December 31, 2023:

	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number of Shares Outstanding		Weighted- Average Remaining Contractual Life (in years)		Weighted- Average Exercise Price		Number of Shares Outstanding		Weighted- Average Exercise Price
$59.32 - $81.28		113,490		5.91	$	62.49		71,086	$	63.67
$87.37 - $106.24		125,721		4.60	$	95.77		122,005	$	95.72
$118.27 - $166.75		71,197		8.34	$	131.77		22,731	$	130.79
		310,408		5.94	$	91.86		215,822	$	88.86

Summary of Activity for Nonvested Restricted Shares

The following table summarizes the activity for nonvested restricted shares during the nine months ended December 31, 2023:

	Number of Shares			Weighted-Average Grant Date Fair Value
Nonvested Restricted Stock at March 31, 2023		219,084		$	96.54
Granted		97,257		$	169.62
Vested		(35,958	)	$	146.24
Forfeited		(3,000	)	$	139.03
Nonvested Restricted Stock at December 31, 2023		277,383		$	125.10

Performance Vesting Restricted Stock [Member]

Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]

Period and vesting of performance shares

The restricted share performance periods are as follows:

	Shares		Performance Period	Vesting Date
One-Year Performance Shares		11,424	April 1, 2023 to March 31, 2024	May 2024
Two-Year Performance Shares		11,424	April 1, 2023 to March 31, 2025	May 2025
Three-Year Performance Shares		22,845	April 1, 2023 to March 31, 2026	May 2026