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SHARE-BASED EMPLOYEE COMPENSATION (Tables)
6 Months Ended
Sep. 30, 2015
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 2016 are as follows:

 

 

  

Fiscal 2016

Dividend Yield

  

 

2.0%

Expected Volatility

  

 

36.5%

Risk Free Interest Rate

  

 

1.7%

Expected Life

  

 

6.0 years

 

Stock Option Activity

The following table represents stock option activity for the six months ended September 30, 2015:

 

 

 

Number
of
Shares

 

 

Weighted-
Average
Exercise Price

 

Outstanding Options at Beginning of Period

 

 

1,665,565

 

 

$

46.37

 

Granted

 

 

293,572

 

 

$

81.48

 

Exercised

 

 

(97,410

)

 

$

26.47

 

Cancelled

 

 

(15,000

)

 

$

86.35

 

Outstanding Options at End of Period

 

 

1,846,727

 

 

$

52.68

 

Options Exercisable at End of Period

 

 

1,252,675

 

 

$

40.29

 

Weighted-Average Fair Value of Options Granted during the Period

 

$

24.76

 

 

 

 

 

 

Stock Options Outstanding

 

The following table summarizes information about stock options outstanding at September 30, 2015:

 

 

 

Outstanding Options

 

 

Exercisable Options

 

Range of Exercise Prices

 

Number of
Shares
Outstanding

 

 

Weighted -
Average
Remaining
Contractual
Life

 

 

Weighted -
Average
Exercise
Price

 

 

Number of
Shares
Outstanding

 

 

Weighted -
Average
Exercise
Price

 

$23.17 – $ 30.74

 

 

504,200

 

 

 

4.36

 

 

$

26.65

 

 

 

502,200

 

 

$

26.64

 

$33.08 – $ 37.95

 

 

478,868

 

 

 

6.41

 

 

$

33.96

 

 

 

458,868

 

 

$

33.92

 

$53.22 – $ 74.10

 

 

282,936

 

 

 

7.32

 

 

$

66.60

 

 

 

189,039

 

 

$

66.67

 

$79.73 – $ 93.56

 

 

580,723

 

 

 

9.25

 

 

$

83.92

 

 

 

102,568

 

 

$

86.95

 

 

 

 

1,846,727

 

 

 

6.89

 

 

$

52.68

 

 

 

1,252,675

 

 

$

40.29