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Stock-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2024

Share-Based Payment Arrangement [Abstract]

Summary Of Stock Option Activity

For purposes of determining the fair value of stock options granted, the Company used a Black-Scholes Model with the following assumptions:

						2024						2023						2022
Risk-free interest rate						4.24		%				2.92		%				0.89		%
Dividend yield						0.95		%				0.99		%				0.76		%
Expected life (years)						6						6						6
Volatility						38.3		%				37.4		%				37.3		%

The following table summarizes the Company’s stock option activity in the years indicated:

						Number of Options						Weighted- Average Remaining Contract Term (Years)						Weighted- Average Exercise Price						Aggregate Intrinsic Value
Options outstanding as of March 31, 2021						799,501						7.8						$	72.31					$	14,781
Granted						246,222												97.32						—
Exercised						(42,640)												65.71						1,079
Forfeited						(27,478)												71.26						520
Expired						—												—						—
Options outstanding as of March 31, 2022						975,605						7.5						$	78.94					$	3,605
Granted						310,140												75.33						—
Exercised						(75,180)												65.22						1,561
Forfeited						(9,575)												80.05						39
Expired						(4,679)												85.12						—
Options outstanding as of March 31, 2023						1,196,311						7.3						$	78.83					$	12,150
Granted						200,314												101.04						—
Exercised						(197,350)												71.81						6,110
Forfeited						(9,166)												78.68						158
Expired						—												—						—
Options outstanding as of March 31, 2024						1,190,109						7.0						$	83.74					$	15,043
Options exercisable as of March 31, 2024						713,932						5.9						$	79.70					$	11,178
Options vested and expected to vest, as of March 31, 2024						1,176,995						7.0						$	83.66					$	14,944

Summary Of Information Regarding Stock Options Outstanding And Exercisable

The following table summarizes information regarding stock options outstanding as of March 31, 2024:

Range of Exercise Prices						Number of Options						Weighted- Average Remaining Contractual Life (Years)						Weighted- Average Exercise Price
$57.60-$60.00						98,680						5.0						$	57.73
$60.01-$70.00						26,118						0.9						$	68.76
$70.01-$80.00						423,674						7.4						$	75.50
$80.01-$90.00						219,580						5.3						$	83.00
$90.01-$100.00						140,375						8.3						$	93.16
$100.01-$104.18						281,682						8.3						$	102.51
						1,190,109						7.0						$	83.74

Summary Of The Changes In Restricted Stock Units And Market Share Units

A summary of the changes in restricted stock units, including DSU's, and TSRs awarded to employees and directors that were outstanding under the Company’s equity compensation plans during fiscal 2024 is presented below:

						Restricted Stock Units  (RSU)												Market condition-based Share Units (TSR)
						Number of RSU						Weighted- Average Grant Date Fair Value						Number of TSR						Weighted- Average Grant Date Fair Value
Non-vested awards as of March 31, 2023						1,009,783						$	65.48					31,653						$	62.19
Granted						299,284						92.44						—						—
Stock dividend						8,987						68.55						61						62.80
Vested						(262,315)						72.63						(30,582)						62.02
Forfeitures						(32,903)						79.36						—						—
Non-vested awards as of March 31, 2024						1,022,836						$	69.24					1,132						$	66.89

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Tabular disclosure of share-based payment arrangement.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-1

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-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
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-Paragraph 2
-Publisher FASB
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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of number, weighted-average exercise price or conversion ratio, aggregate intrinsic value, and weighted-average remaining contractual term for outstanding and exercisable options that are fully vested and expected to vest. Includes, but is not limited to, unvested options for which requisite service period has not been rendered but that are expected to vest based on achievement of performance condition, if forfeitures are recognized when they occur.

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-Paragraph 2
-Subparagraph (e)
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-Publisher FASB
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