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STOCK OPTION PLANS (Tables) | 12 Months Ended
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Mar. 31, 2020
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 20 20 and 201 9 are as follows:
|  | 2020 |  |  | 2019 |
Dividend Yield |  |  | 1.3 | % |  |  | 1.3 | %
Expected Volatility |  |  | 31.4 | % |  |  | 32.7 | %
Risk Free Interest Rate |  |  | 2.31 | % |  |  | 2.85 | %
Expected Life |  | 6.0 years |  |  | 6.0 years |
Stock Option Activity | The following table shows stock option activity for the years presented:
|  | For the Years Ended March 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | Number of Shares |  |  | Weighted- Average Exercise Price |  |  | Number of Shares |  |  | Weighted- Average Exercise Price |  |  | Number of Shares |  |  | Weighted- Average Exercise Price |
Outstanding Options at Beginning of Year |  |  | 1,042,925 |  |  | $ | 76.88 |  |  |  | 958,136 |  |  | $ | 72.52 |  |  |  | 1,323,379 |  |  | $ | 66.07 |
Granted |  |  | 187,375 |  |  | $ | 91.58 |  |  |  | 125,734 |  |  | $ | 103.53 |  |  |  | 119,986 |  |  | $ | 100.20 |
Exercised |  |  | (62,326 | ) |  | $ | 88.28 |  |  |  | (38,748 | ) |  | $ | 54.27 |  |  |  | (448,295 | ) |  | $ | 60.27 |
Cancelled |  |  | (7,883 | ) |  | $ | 102.69 |  |  |  | (2,197 | ) |  | $ | 100.88 |  |  |  | (36,934 | ) |  | $ | 79.97 |
Outstanding Options at End of Year |  |  | 1,160,091 |  |  | $ | 80.36 |  |  |  | 1,042,925 |  |  | $ | 76.88 |  |  |  | 958,136 |  |  | $ | 72.52 |
Options Exercisable at End of Year |  |  | 868,081 |  |  |  |  |  |  |  | 761,564 |  |  |  |  |  |  |  | 651,218 |  |  |  |  |
Weighted-Average Fair Value of Options Granted during the Year |  |  |  |  |  | $ | 27.35 |  |  |  |  |  |  | $ | 33.11 |  |  |  |  |  |  | $ | 33.37 |
Stock Options Outstanding | The following table summarizes information about stock options outstanding at March 31, 2020:
|  | Options Outstanding |  |  | Options Exercisable |
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 - $29.84 |  |  | 65,912 |  |  |  | 1.35 |  |  | $ | 23.27 |  |  |  | 65,912 |  |  | $ | 23.27 |
$33.43 - $37.34 |  |  | 57,728 |  |  |  | 2.21 |  |  | $ | 34.03 |  |  |  | 57,728 |  |  | $ | 34.03 |
$53.22 - $77.67 |  |  | 267,763 |  |  |  | 5.28 |  |  | $ | 72.46 |  |  |  | 233,949 |  |  | $ | 72.37 |
$79.73 - $106.24 |  |  | 768,688 |  |  |  | 6.72 |  |  | $ | 91.49 |  |  |  | 510,492 |  |  | $ | 89.24 |
|  |  | 1,160,091 |  |  |  | 5.86 |  |  | $ | 80.36 |  |  |  | 868,081 |  |  | $ | 76.01 |
Summary of Activity for Nonvested Restricted Shares | The fair value of restricted stock is estimated based on the stock price at the date of the grant. The following table summarizes the activity for nonvested restricted shares during the fiscal years ended March 31, 2020, 2019, and 2018:
|  | For the Years Ended March 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |  |  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |  |  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Nonvested Restricted Stock at Beginning of Year |  |  | 300,115 |  |  | $ | 78.94 |  |  |  | 328,059 |  |  | $ | 72.52 |  |  |  | 371,213 |  |  | $ | 66.07 |
Granted |  |  | 118,292 |  |  | $ | 90.08 |  |  |  | 121,836 |  |  | $ | 105.73 |  |  |  | 107,964 |  |  | $ | 100.20 |
Vested |  |  | (169,347 | ) |  | $ | 92.98 |  |  |  | (147,790 | ) |  | $ | 75.94 |  |  |  | (119,187 | ) |  | $ | 60.27 |
Forfeited |  |  | (15,940 | ) |  | $ | 58.64 |  |  |  | (1,990 | ) |  | $ | 100.88 |  |  |  | (31,931 | ) |  | $ | 79.97 |
Nonvested Restricted Stock at End of Year |  |  | 233,120 |  |  | $ | 75.35 |  |  |  | 300,115 |  |  | $ | 78.94 |  |  |  | 328,059 |  |  | $ | 72.52 |

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- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + 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 -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + 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 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + 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 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=116856206&loc=d3e5070-113901 + Details
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