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STOCK OPTION PLANS (Tables)
12 Months Ended
Mar. 31, 2018
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 2018 and 2017 are as follows:

 

 

2018

 

 

2017

 

Dividend Yield

 

 

1.3

%

 

 

1.3

%

Expected Volatility

 

 

36.3

%

 

 

36.5

%

Risk Free Interest Rate

 

 

2.10

%

 

 

1.40

%

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,

 

 

 

2018

 

 

2017

 

 

2016

 

 

 

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

 

 

1,323,379

 

 

$

66.07

 

 

 

1,817,763

 

 

$

53.03

 

 

 

1,665,565

 

 

$

46.37

 

Granted

 

 

119,986

 

 

$

100.20

 

 

 

202,364

 

 

$

77.76

 

 

 

318,572

 

 

$

79.83

 

Exercised

 

 

(448,295

)

 

$

60.27

 

 

 

(677,566

)

 

$

34.46

 

 

 

(137,874

)

 

$

27.58

 

Cancelled

 

 

(36,934

)

 

$

79.97

 

 

 

(19,182

)

 

$

70.30

 

 

 

(28,500

)

 

$

86.35

 

Outstanding Options at End of Year

 

 

958,136

 

 

$

72.52

 

 

 

1,323,379

 

 

$

66.07

 

 

 

1,817,763

 

 

$

53.03

 

Options Exercisable at End of Year

 

 

651,218

 

 

 

 

 

 

 

874,116

 

 

 

 

 

 

 

1,285,412

 

 

 

 

 

Weighted Average Fair Value of Options Granted

during the Year

 

 

 

 

 

$

33.37

 

 

 

 

 

 

$

25.22

 

 

 

 

 

 

$

24.27

 

 

 

Stock Options Outstanding

The following table summarizes information about stock options outstanding at March 31, 2018:

 

 

 

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 - $29.84

 

 

65,912

 

 

 

3.35

 

 

$

23.27

 

 

 

65,912

 

 

$

23.27

 

$33.43 - $37.34

 

 

99,582

 

 

 

4.21

 

 

$

33.94

 

 

 

99,582

 

 

$

33.94

 

$53.22 - $77.67

 

 

307,424

 

 

 

7.00

 

 

$

71.12

 

 

 

183,248

 

 

$

69.79

 

$79.73 - $106.00

 

 

485,218

 

 

 

7.37

 

 

$

88.02

 

 

 

302,476

 

 

$

84.72

 

 

 

 

958,136

 

 

 

6.65

 

 

$

72.52

 

 

 

651,218

 

 

$

66.53

 

 

Summary of Activity for Nonvested Restricted Shares

The following table summarizes the activity for nonvested restricted shares during the fiscal year ended March 31, 2018:

 

 

 

Number of Shares

 

 

Weighted Average Grant Date Fair Value

 

Restricted Stock Beginning of Year

 

 

371,213

 

 

$

60.33

 

Granted

 

 

107,964

 

 

$

100.05

 

Vested

 

 

(119,187

)

 

$

80.04

 

Forfeited

 

 

(31,931

)

 

$

40.00

 

Nonvested Restricted Stock at End of Year

 

 

328,059

 

 

$

65.76