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SHARE-BASED EMPLOYEE COMPENSATION (Tables) | 3 Months Ended
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Jun. 30, 2022
Share-based Payment Arrangement [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 2023 are as follows:
Dividend Yield |  |  | 0.8 | %
Expected Volatility |  |  | 38.2 | %
Risk-Free Interest Rate |  |  | 2.9 | %
Expected Life |  | 6.0 years |
In addition to the stock options described above, from time to time we issue stock options to certain employees.
Stock Option Activity | The following table represents stock option activity for the three months ended June 30, 2022:
|  | Number of Shares |  |  | Weighted- Average Exercise Price |
Outstanding Options at March 31, 2022 |  |  | 456,849 |  |  | $ | 83.81 |
Granted |  |  | 51,522 |  |  | $ | 125.88 |
Exercised |  |  | (17,159 | ) |  | $ | 125.12 |
Cancelled |  |  | — |  |  | $ | — |
Outstanding Options at June 30, 2022 |  |  | 491,212 |  |  | $ | 88.85 |
Options Exercisable at June 30, 2022 |  |  | 298,520 |  |  |  |
Weighted-Average Fair Value of Options Granted During the Year |  | $ | 125.88 |  |  |  |
Stock Options Outstanding | The following table summarizes information about stock options outstanding at June 30, 2022:
|  | 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 |
$59.32 - $81.56 |  |  | 172,395 |  |  |  | 7.08 |  |  | $ | 62.87 |  |  |  | 85,585 |  |  | $ | 64.96 |
$87.37 - $93.03 |  |  | 151,569 |  |  |  | 6.58 |  |  | $ | 91.57 |  |  |  | 109,241 |  |  | $ | 91.57 |
$99.37 - $143.09 |  |  | 167,248 |  |  |  | 7.18 |  |  | $ | 113.16 |  |  |  | 103,694 |  |  | $ | 106.15 |
|  |  | 491,212 |  |  |  | 6.96 |  |  | $ | 88.85 |  |  |  | 298,520 |  |  | $ | 89.00 |
Summary of Activity for Nonvested Restricted Shares | The following table summarizes the activity for nonvested restricted shares during the three months ended June 30, 2022:
|  | Number of Shares |  |  | Weighted-Average Grant Date Fair Value |
Nonvested Restricted Stock at March 31, 2022 |  |  | 258,779 |  |  | $ | 85.34 |
Granted |  |  | 96,135 |  |  | $ | 126.01 |
Vested |  |  | (28,746 | ) |  | $ | 133.85 |
Forfeited |  |  | — |  |  | $ | — |
Nonvested Restricted Stock at June 30, 2022 |  |  | 326,168 |  |  | $ | 94.66 |

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