v3.22.4
SHARE-BASED EMPLOYEE COMPENSATION (Tables)
 9 Months Ended
Dec. 31, 2022
Share-Based Payment Arrangement [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 2023 are as follows:

 

 

 

 

Dividend Yield

 

 

0.8

%

Expected Volatility

 

 

38.2

%

Risk-Free Interest Rate

 

 

2.9

%

Expected Life

 

6.0 years

 
Stock Option Activity

The following table represents stock option activity for the nine months ended December 31, 2022:

 

 

 

Number
of Shares

 

 

Weighted-
Average
Exercise
Price

 

Outstanding Options at March 31, 2022

 

 

456,849

 

 

$

83.81

 

Granted

 

 

56,621

 

 

$

125.90

 

Exercised

 

 

(19,241

)

 

$

67.74

 

Cancelled

 

 

(3,178

)

 

$

109.15

 

Outstanding Options at December 31, 2022

 

 

491,051

 

 

$

89.13

 

Options Exercisable at December 31, 2022

 

 

299,948

 

 

 

 

Weighted-Average Fair Value of Options Granted
During the Year

 

$

48.36

 

 

 

 
Stock Options Outstanding

The following table summarizes information about stock options outstanding at December 31, 2022:

 

 

 

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

 

 

170,995

 

 

 

6.58

 

 

$

62.78

 

 

 

84,185

 

 

$

64.80

 

$87.37 - $93.03

 

 

151,569

 

 

 

6.07

 

 

$

91.57

 

 

 

109,241

 

 

$

91.57

 

$99.37 - $143.09

 

 

168,487

 

 

 

6.73

 

 

$

113.68

 

 

 

106,522

 

 

$

106.90

 

 

 

 

491,051

 

 

 

6.47

 

 

$

89.13

 

 

 

299,948

 

 

$

89.50

 
Summary of Activity for Nonvested Restricted Shares The following table summarizes the activity for nonvested restricted shares during the nine months ended December 31, 2022:

 

 

 

Number of Shares

 

 

Weighted-Average Grant Date Fair Value

 

Nonvested Restricted Stock at March 31, 2022

 

 

258,779

 

 

$

85.34

 

Granted

 

 

111,230

 

 

$

126.23

 

Vested

 

 

(55,467

)

 

$

108.98

 

Forfeited

 

 

(3,247

)

 

$

124.82

 

Nonvested Restricted Stock at December 31, 2022

 

 

311,295

 

 

$

98.31