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STOCK OPTION PLANS (Tables) | 12 Months Ended
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Mar. 31, 2021
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 2021 and 2020 are as follows:
|  | 2021 |  |  | 2020 |
Dividend Yield |  |  | 0.0 | % |  |  | 1.3 | %
Expected Volatility |  |  | 37.9 | % |  |  | 31.4 | %
Risk-Free Interest Rate |  |  | 0.44 | % |  |  | 2.31 | %
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, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | 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 |  |  | 1,160,091 |  |  | $ | 80.36 |  |  |  | 1,042,925 |  |  | $ | 76.88 |  |  |  | 958,136 |  |  | $ | 72.52 |
Granted |  |  | 187,121 |  |  | $ | 61.92 |  |  |  | 187,375 |  |  | $ | 91.58 |  |  |  | 125,734 |  |  | $ | 103.53 |
Exercised |  |  | (623,617 | ) |  | $ | 70.57 |  |  |  | (62,326 | ) |  | $ | 88.28 |  |  |  | (38,748 | ) |  | $ | 54.27 |
Cancelled |  |  | (15,094 | ) |  | $ | 92.51 |  |  |  | (7,883 | ) |  | $ | 102.69 |  |  |  | (2,197 | ) |  | $ | 100.88 |
Outstanding Options at End of Year |  |  | 708,501 |  |  | $ | 83.85 |  |  |  | 1,160,091 |  |  | $ | 80.36 |  |  |  | 1,042,925 |  |  | $ | 76.88 |
Options Exercisable at End of Year |  |  | 416,817 |  |  |  |  |  |  |  | 868,081 |  |  |  |  |  |  |  | 761,564 |  |  |  |  |
Weighted-Average Fair Value of Options Granted during the Year |  |  |  |  |  | $ | 22.68 |  |  |  |  |  |  | $ | 27.35 |  |  |  |  |  |  | $ | 33.11 |
Stock Options Outstanding | The following table summarizes information about stock options outstanding at March 31, 2021:
|  | 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 |
$33.43 - $37.34 |  |  | 14,373 |  |  |  | 1.20 |  |  | $ | 34.37 |  |  |  | 14,373 |  |  | $ | 34.37 |
$59.32 - $81.56 |  |  | 260,670 |  |  |  | 7.72 |  |  | $ | 65.46 |  |  |  | 96,420 |  |  | $ | 73.32 |
$87.34 - $106.24 |  |  | 433,458 |  |  |  | 6.74 |  |  | $ | 96.55 |  |  |  | 306,024 |  |  | $ | 96.93 |
|  |  | 708,501 |  |  |  | 6.99 |  |  | $ | 83.85 |  |  |  | 416,817 |  |  | $ | 89.31 |
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, 2021, 2020, and 2019:
|  | For the Years Ended March 31, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | 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 |  |  | 233,120 |  |  | $ | 75.35 |  |  |  | 300,115 |  |  | $ | 78.94 |  |  |  | 328,059 |  |  | $ | 72.52 |
Granted |  |  | 179,377 |  |  | $ | 63.83 |  |  |  | 118,292 |  |  | $ | 90.08 |  |  |  | 121,836 |  |  | $ | 105.73 |
Vested |  |  | (136,280 | ) |  | $ | 78.89 |  |  |  | (169,347 | ) |  | $ | 92.98 |  |  |  | (147,790 | ) |  | $ | 75.94 |
Cancelled |  |  | (9,127 | ) |  | $ | 71.46 |  |  |  | (15,940 | ) |  | $ | 58.64 |  |  |  | (1,990 | ) |  | $ | 100.88 |
Nonvested Restricted Stock at End of Year |  |  | 267,090 |  |  | $ | 62.56 |  |  |  | 233,120 |  |  | $ | 75.35 |  |  |  | 300,115 |  |  | $ | 78.94 |

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