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Share-Based Compensation Share-Based Compensation (Tables)

6 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Assumptions Used

The following weighted-average assumptions were used for options granted during the first six months of fiscal 2021 and 2020:

						Fiscal 2021						Fiscal 2020
Risk-free interest rate						0.46		%				2.26		%
Expected life of options						6.0 years						6.2 years
Expected dividend yield of stock						0.96		%				1.22		%
Expected volatility of stock						23.04		%				20.27		%

Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding

A summary of share option activity is as follows:

						Number of Options						Weighted Average Exercise Price Per Share						Average Remaining Contractual Term						Aggregate Intrinsic Value
Outstanding at March 31, 2020						1,796,126						$	91.29
Granted						288,936						181.33
Exercised						(292,199)						71.96
Forfeited						(32,002)						121.80
Outstanding at September 30, 2020						1,760,861						$	108.72					7.0 years						$	120,484
Exercisable at September 30, 2020						988,477						$	80.98					5.7 years						$	94,113

Share-based Compensation Arrangements by Share-based Payment Award, Restricted Stock Units, Vested and Expected to Vest

A summary of the non-vested restricted share and share unit activity is presented below:

						Number of Restricted Shares						Number of Restricted Share Units						Weighted-Average Grant Date Fair Value
Non-vested at March 31, 2020						575,830						30,894						$	98.07
Granted						137,385						14,124						164.45
Vested						(156,390)						(16,150)						84.64
Forfeited						(15,430)						—						102.07
Non-vested at September 30, 2020						541,395						28,868						$	119.72

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- Definition

Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
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- Definition

Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
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-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

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Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding restricted stock units that are fully vested and expected to vest. Includes, but is not limited to, unvested restricted stock units for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
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-URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901

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