STOCKHOLDERS' EQUITY

3 Months Ended

Jun. 30, 2017

(E) STOCKHOLDERS’ EQUITY

A summary of changes in stockholders’ equity follows:

	For the Three Months Ended June 30, 2017
	(dollars in thousands)
Common Stock –
Balance at Beginning of Period	$	485
Issuance of Restricted Stock		1
Stock Option Exercises		(1	)
Balance at End of Period		485
Capital in Excess of Par Value –
Balance at Beginning of Period		149,014
Stock Compensation Expense		3,399
Cumulative Impact of the Adoption of ASU 2016-09		713
Shares Redeemed to Settle Employee Taxes		(1,378	)
Stock Option Exercises		1,273
Purchase and Retirement of Common Stock		(1,880	)
Balance at End of Period		151,141
Retained Earnings –
Balance at Beginning of Period		1,061,347
Dividends Declared to Stockholders		(4,856	)
Cumulative Impact of the Adoption of ASU 2016-09		(713	)
Net Earnings		54,882
Balance at End of Period		1,110,660
Accumulated Other Comprehensive Loss -
Balance at Beginning of Period		(7,396	)
Change in Funded Status of Pension Plan, net of tax		197
Balance at End of Period		(7,199	)
Total Stockholders’ Equity	$	1,255,087

During the three months ended June 30, 2017, we repurchased 20,000 shares at an average price of $94.03. Subsequent to June 30, 2017 we repurchased an additional 65,000 shares at an average price of $92.74. Including the repurchases subsequent to June 30, 2017, we have authorization to purchase an additional 4,712,200 shares.