v3.25.2
Stock-Based Compensation (Tables)
 3 Months Ended
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]  
Schedule of Compensation Expense Information
The following table provides information regarding our stock-based compensation:
Three Months Ended June 30,
(In thousands)20252024
Pre-tax stock-based compensation costs charged against income$3,682 $3,425 
Income tax benefit recognized on compensation costs$465 $438 
Total fair value of options and RSUs vested during the period$9,036 $11,150 
Cash received from the exercise of stock options$3,155 $1,975 
Tax benefits realized from tax deductions resulting from RSU issuances and stock option exercises$780 $667 
Schedule of Restricted Shares A summary of the RSUs granted under the 2005 Plan and the 2020 Plan is presented below:
 
 
 
RSUs
 
Shares
(in thousands)
Weighted
Average
Grant-Date
Fair Value
Three Months Ended June 30, 2024
Unvested at March 31, 2024391.9 $54.43 
Granted131.9 69.87 
Incremental performance shares 41.1 — 
Vested (177.7)46.19 
Forfeited(3.2)58.16 
Unvested at June 30, 2024384.0 62.43 
Vested at June 30, 2024110.2 38.77 
   
Three Months Ended June 30, 2025
Unvested at March 31, 2025402.2 $63.20 
Granted114.9 82.98 
Vested (109.2)56.85 
Forfeited(21.2)61.03 
Unvested at June 30, 2025386.7 70.99 
Vested at June 30, 202598.6 40.22 
Schedule of Fair Value of Options Granted
The fair value of each option award is estimated on the date of grant using the Black-Scholes Option Pricing Model that uses the assumptions presented below:
 Three Months Ended June 30,
 2025 2024
Expected volatility
28.5% - 30.1%
 
30.4% - 30.8%
Expected dividends$—  $— 
Expected term in years
6.0 to 7.0
 
6.0 to 7.0
Risk-free rate
4.1%
4.5%
Weighted average grant date fair value of options granted$31.22 $27.97 
Schedule of Stock Option Activity
A summary of option activity under the 2005 Plan and the 2020 Plan is as follows:
 
 
 
 
Options
 
 
Shares
(in thousands)
Weighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Term (years)		Aggregate
Intrinsic
Value
(in thousands)
Three Months Ended June 30, 2024
Outstanding at March 31, 2024728.0 $48.30 
Granted109.7 69.94 
Exercised(38.3)51.61 
Forfeited(9.9)59.11 
Outstanding at June 30, 2024789.5 51.01 6.6$14,207 
Vested at June 30, 2024551.9 45.45 5.6$12,915 
Three Months Ended June 30, 2025    
Outstanding at March 31, 2025518.7 $52.22 
Granted104.7 82.98 
Exercised(52.7)59.84 
Forfeited (5.1)74.48 
Outstanding at June 30, 2025565.6 57.00 6.9$13,243 
Vested at June 30, 2025357.7 46.56 5.6$11,910