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Stock Option Plans (Tables)
12 Months Ended
Mar. 31, 2015
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 2015 and 2014 are as follows:

 

 

 

 

2015

 

 

2014

 

Dividend Yield

 

 

2.0

%

 

 

2.0

%

Expected Volatility

 

 

44.8

%

 

 

44.6

%

Risk Free Interest Rate

 

 

1.86

%

 

 

2.04

%

Expected Life

 

 

6.0 years

 

 

 

7.0 years

 

 

Stock Option Activity

The following table represents stock option activity for the years presented:

 

 

 

For the Years Ended March 31,

 

 

 

2015

 

 

2014

 

 

2013

 

 

 

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

 

 

2,788,999

 

 

$

41.83

 

 

 

3,022,592

 

 

$

37.83

 

 

 

3,241,322

 

 

$

36.11

 

Granted

 

 

297,151

 

 

$

86.41

 

 

 

256,989

 

 

$

68.00

 

 

 

569,679

 

 

$

34.64

 

Exercised

 

 

(151,085

)

 

$

32.38

 

 

 

(485,582

)

 

$

29.72

 

 

 

(746,131

)

 

$

27.64

 

Cancelled

 

 

(1,269,500

)

 

$

47.43

 

 

 

(5,000

)

 

$

53.22

 

 

 

(42,278

)

 

$

42.21

 

Outstanding Options at End of Year

 

 

1,665,565

 

 

$

46.37

 

 

 

2,788,999

 

 

$

41.83

 

 

 

3,022,592

 

 

$

37.83

 

Options Exercisable at End of Year

 

 

1,035,166

 

 

 

 

 

 

 

818,215

 

 

 

 

 

 

 

986,187

 

 

 

 

 

Weighted Average Fair Value of Options Granted during the Year

 

 

 

 

 

$

32.31

 

 

 

 

 

 

$

26.35

 

 

 

 

 

 

$

13.28

 

 

Stock Options Outstanding

 

The following table summarizes information about stock options outstanding at March 31, 2015:

 

 

 

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

 

$23.17 - $30.74

 

 

592,210

 

 

 

4.19

 

 

$

26.50

 

 

 

589,210

 

 

$

26.48

 

$33.08 - $40.78

 

 

487,968

 

 

 

6.91

 

 

$

33.95

 

 

 

308,352

 

 

$

34.00

 

$53.22 - $74.10

 

 

283,236

 

 

 

7.82

 

 

$

66.58

 

 

 

118,089

 

 

$

66.59

 

$79.90 - $93.56

 

 

302,151

 

 

 

9.31

 

 

$

86.42

 

 

 

19,515

 

 

$

91.71

 

 

 

 

1,665,565

 

 

 

6.54

 

 

$

46.37

 

 

 

1,035,166

 

 

$

34.52