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STOCKHOLDERS' EQUITY
 6 Months Ended
Sep. 30, 2015
Equity [Abstract]  
STOCKHOLDERS' EQUITY

(F) STOCKHOLDERS’ EQUITY

A summary of changes in stockholders’ equity follows:

 

 

 

For the Six Months

Ended September 30, 2015

 

 

 

(dollars in thousands)

 

Common Stock –

 

 

 

 

Balance at Beginning of Period

 

$

502

 

Stock Option Exercises

 

 

1

 

 

Balance at End of Period

 

 

503

 

 

Capital in Excess of Par Value –

 

 

 

 

Balance at Beginning of Period

 

 

272,441

 

Stock Compensation Expense

  

 

8,329

 

Shares Redeemed to Settle Employee Taxes

 

 

(1,728

)

Stock Option Exercises

 

 

5,074

 

Share Repurchases and Retirement

 

 

(10,744

)

 

Balance at End of Period

 

 

273,372

 

 

Retained Earnings –

 

 

 

 

Balance at Beginning of Period

 

 

749,717

 

Dividends Declared to Stockholders

 

 

(10,054

)

Net Earnings

 

 

67,581

 

 

Balance at End of Period

 

 

807,244

 

 

Accumulated Other Comprehensive Loss -

 

 

 

 

Balance at Beginning of Period

 

 

(12,067

)

Change in Funded Status of Pension Plan, net of tax

 

 

639

 

Balance at End of Period

 

 

(11,428

)

 

Total Stockholders’ Equity

 

$

1,069,691

 

 

On August 10, 2015, the Company announced that the Board of Directors had authorized the Company to repurchase up to an additional 6,782,700 shares, for a total outstanding authorization of 7,500,000 shares. We repurchased 144,000 shares at an average price of $74.61 during the three months ended September 30, 2015. We also purchased an additional 110,000 shares during the last week of September, which were not settled until the first week of October, and 130,000 shares during the first week of October 2015 at a combined average price of $70.31. Including the shares purchased during the last week of September, which settled in the first week of October, and the shares purchased in early October, we have authorization to purchase an additional 7,116,000 shares.