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STOCK OPTION PLANS (Tables) | 12 Months Ended
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Mar. 31, 2023
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 and 2022 are as follows:
|  | 2023 |  |  | 2022 |
Dividend Yield |  |  | 0.8 | % |  |  | 0.8 | %
Expected Volatility |  |  | 38.2 | % |  |  | 38.4 | %
Risk-Free Interest Rate |  |  | 2.90 | % |  |  | 1.00 | %
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, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | 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 |  |  | 456,849 |  |  | $ | 83.81 |  |  |  | 708,501 |  |  | $ | 83.85 |  |  |  | 1,160,091 |  |  | $ | 80.36 |
Granted |  |  | 56,621 |  |  | $ | 125.90 |  |  |  | 11,316 |  |  | $ | 140.42 |  |  |  | 187,121 |  |  | $ | 61.92 |
Exercised |  |  | (73,343 | ) |  | $ | 80.19 |  |  |  | (247,578 | ) |  | $ | 86.97 |  |  |  | (623,617 | ) |  | $ | 70.57 |
Cancelled |  |  | (3,178 | ) |  | $ | 109.15 |  |  |  | (15,390 | ) |  | $ | 76.63 |  |  |  | (15,094 | ) |  | $ | 92.51 |
Outstanding Options at End of Year |  |  | 436,949 |  |  | $ | 89.69 |  |  |  | 456,849 |  |  | $ | 83.81 |  |  |  | 708,501 |  |  | $ | 83.85 |
Options Exercisable at End of Year |  |  | 339,043 |  |  |  |  |  |  | 314,624 |  |  |  |  |  |  | 416,817 |  |  |  |
Weighted-Average Fair Value of Options Granted During the Year |  |  |  |  | $ | 48.36 |  |  |  |  |  | $ | 49.18 |  |  |  |  |  | $ | 22.68 |
Stock Options Outstanding | The following table summarizes information about stock options outstanding at March 31, 2023:
|  | 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 |
$59.32 - $81.28 |  |  | 149,712 |  |  |  | 6.30 |  |  | $ | 62.96 |  |  |  | 106,308 |  |  | $ | 63.84 |
$87.37 - $93.03 |  |  | 138,656 |  |  |  | 5.80 |  |  | $ | 91.56 |  |  |  | 137,664 |  |  | $ | 91.57 |
$99.37 - $143.09 |  |  | 148,581 |  |  |  | 6.62 |  |  | $ | 114.86 |  |  |  | 95,071 |  |  | $ | 108.94 |
|  |  | 436,949 |  |  |  | 6.25 |  |  | $ | 89.69 |  |  |  | 339,043 |  |  | $ | 87.74 |
Summary of Activity for Nonvested Restricted Shares | The following table summarizes the activity for nonvested restricted shares during the fiscal years ended March 31, 2023, 2022, and 2021:
|  | For the Years Ended March 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | 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 |  |  | 258,779 |  |  | $ | 85.34 |  |  |  | 267,090 |  |  | $ | 62.56 |  |  |  | 233,120 |  |  | $ | 75.35 |
Granted |  |  | 111,230 |  |  | $ | 126.23 |  |  |  | 113,414 |  |  | $ | 139.91 |  |  |  | 179,377 |  |  | $ | 63.83 |
Vested |  |  | (147,678 | ) |  | $ | 104.33 |  |  |  | (116,507 | ) |  | $ | 87.47 |  |  |  | (136,280 | ) |  | $ | 78.89 |
Cancelled |  |  | (3,247 | ) |  | $ | 124.82 |  |  |  | (5,218 | ) |  | $ | 75.10 |  |  |  | (9,127 | ) |  | $ | 71.46 |
Nonvested Restricted Stock at End of Year |  |  | 219,084 |  |  | $ | 96.54 |  |  |  | 258,779 |  |  | $ | 85.34 |  |  |  | 267,090 |  |  | $ | 62.56 |

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