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STOCKHOLDERS' EQUITY
 9 Months Ended
Dec. 31, 2016
Equity [Abstract]  
STOCKHOLDERS' EQUITY

(E) STOCKHOLDERS’ EQUITY

A summary of changes in stockholders’ equity follows:

 

 

 

For the Nine Months

Ended December 31, 2016

 

 

 

(dollars in thousands)

 

Common Stock –

 

 

 

 

Balance at Beginning of Period

 

$

485

 

Purchase and Retirement of Common Stock

 

 

(9

)

Issuance of Restricted Stock

 

 

1

 

Stock Option Exercises

 

 

7

 

Balance at End of Period

 

 

484

 

Capital in Excess of Par Value –

 

 

 

 

Balance at Beginning of Period

 

 

168,969

 

Stock Compensation Expense

 

 

9,066

 

Shares Redeemed to Settle Employee Taxes

 

 

(3,084

)

Stock Option Exercises

 

 

28,676

 

Purchase and Retirement of Common Stock

 

 

(60,004

)

Balance at End of Period

 

 

143,623

 

Retained Earnings –

 

 

 

 

Balance at Beginning of Period

 

 

882,486

 

Dividends Declared to Stockholders

 

 

(14,513

)

Net Earnings

 

 

161,968

 

Balance at End of Period

 

 

1,029,941

 

Accumulated Other Comprehensive Loss -

 

 

 

 

Balance at Beginning of Period

 

 

(11,409

)

Change in Funded Status of Pension Plan,

   net of tax

 

 

936

 

Balance at End of Period

 

 

(10,473

)

Total Stockholders’ Equity

 

$

1,163,575

 

 

There were no share repurchases during the three months ended December 31, 2016.  During the nine months ended December 31, 2016 we have repurchased 788,800 shares at an average price of $76.08. At December 31, 2016, we have authorization to purchase an additional 4,817,200 shares.