SHARE-BASED EMPLOYEE COMPENSATION (Tables)

3 Months Ended

Jun. 30, 2019

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 2020 are as follows:  

	2019
Dividend Yield		1.3	%
Expected Volatility		31.4	%
Risk Free Interest Rate		2.32	%
Expected Life	6.0 years

Stock Option Activity

The following table represents stock option activity for the three months ended June 30, 2019:

	Number of Shares			Weighted Average Exercise Price
Outstanding Options at Beginning of Year		1,042,925		$	76.88
Granted		184,892		$	91.58
Exercised		(5,181	)	$	76.53
Cancelled		(7,883	)	$	106.24
Outstanding Options at End of Year		1,214,753		$	78.95
Options Exercisable at End of Year		808,899		$	72.08
Weighted Average Fair Value of Options Granted During the Year				$	27.37

Stock Options Outstanding

The following table summarizes information about stock options outstanding at June 30, 2019:

	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
$23.17 - $29.84		65,912		2.10	$	23.27		65,912	$	23.27
$33.43 - $37.34		81,288		2.96	$	33.99		81,288	$	33.99
$53.22 - $77.67		301,348		5.96	$	71.37		237,176	$	71.13
$79.73 - $106.24		766,205		7.50	$	91.49		424,523	$	87.47
		1,214,753		6.52	$	78.95		808,899	$	72.08

Summary of Activity for Nonvested Restricted Shares

The fair value of restricted stock is based on the stock price at the date of grant.  The following table summarizes the activity for nonvested restricted shares during the three months ended June 30, 2019:

	Number of Shares			Weighted Average Grant Date Fair Value
Restricted Stock Beginning of Year		300,115		$	78.94
Granted		93,703		$	91.58
Vested		(25,306	)	$	91.34
Forfeited		(15,940	)	$	106.24
Nonvested Restricted Stock at End of Year		352,572