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SHARE-BASED EMPLOYEE COMPENSATION (Tables) | 9 Months Ended
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Dec. 31, 2019
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 2020 are as follows:
Dividend Yield |  |  | 1.3 | %
Expected Volatility |  |  | 31.4 | %
Risk Free Interest Rate |  |  | 2.32 | %
Expected Life |  | 6.0 years |
Stock Option Activity | The following table represents stock option activity for the nine months ended December 31, 2019:
|  | Number of Shares |  |  | Weighted Average Exercise Price |
Outstanding Options at Beginning of Year |  |  | 1,042,925 |  |  | $ | 76.88 |
Granted |  |  | 184,892 |  |  | $ | 91.58 |
Exercised |  |  | (57,255 | ) |  | $ | 87.99 |
Cancelled |  |  | (7,883 | ) |  | $ | 102.69 |
Outstanding Options at December 31, 2019 |  |  | 1,162,679 |  |  | $ | 80.25 |
Options Exercisable at December 31, 2019 |  |  | 732,860 |  |  | $ | 73.27 |
Weighted Average Fair Value of Options Granted During the Year |  |  |  |  |  | $ | 27.37 |
Stock Options Outstanding | The following table summarizes information about stock options outstanding at December 31, 2019:
|  | Options Outstanding |  |  | Options Exercisable |
Range of Exercise Prices |  | Number of Shares Outstanding |  |  | Weighted Average Remaining Contractual Life (in years) |  |  | Weighted Average Exercise Price |  |  | Number of Shares Outstanding |  |  | Weighted Average Exercise Price |
$23.17 - $29.84 |  |  | 65,912 |  |  |  | 1.60 |  |  | $ | 23.27 |  |  |  | 65,912 |  |  | $ | 23.27 |
$33.43 - $37.34 |  |  | 57,728 |  |  |  | 2.46 |  |  | $ | 34.03 |  |  |  | 57,728 |  |  | $ | 34.03 |
$53.22 - $77.67 |  |  | 272,834 |  |  |  | 5.53 |  |  | $ | 72.22 |  |  |  | 201,712 |  |  | $ | 71.84 |
$79.73 - $106.24 |  |  | 766,205 |  |  |  | 6.99 |  |  | $ | 91.49 |  |  |  | 407,508 |  |  | $ | 87.63 |
|  |  | 1,162,679 |  |  |  | 6.12 |  |  | $ | 80.25 |  |  |  | 732,860 |  |  | $ | 73.27 |
Summary of Activity for Nonvested Restricted Shares | The fair value of restricted stock is based on the stock price at the date of grant. The following table summarizes the activity for nonvested restricted shares during the nine months ended December 31, 2019:
|  | Number of Shares |  |  | Weighted Average Grant Date Fair Value |
Restricted Stock Beginning of Year |  |  | 300,115 |  |  | $ | 78.94 |
Granted |  |  | 118,292 |  |  | $ | 90.08 |
Vested |  |  | (83,307 | ) |  | $ | 95.01 |
Forfeited |  |  | (15,940 | ) |  | $ | 58.64 |
Nonvested Restricted Stock at December 31, 2019 |  |  | 319,160 |  |  |  |  |

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