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Share-Based Compensation (Tables) | 12 Months Ended
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Mar. 31, 2025
Share-Based Payment Arrangement [Abstract] |
Schedule of Stock-Based Compensation | The following table provides information regarding our stock-based compensation:
|  | March 31,
(In thousands) |  | 2025 |  | 2024 |  | 2023
Pre-tax share-based compensation costs charged against income |  | $ | 11,157 |  |  | $ | 14,010 |  |  | $ | 12,405 |
Income tax benefit recognized on compensation costs |  | $ | 1,267 |  |  | $ | 1,190 |  |  | $ | 1,138 |
Total fair value of options and RSUs vested during the period |  | $ | 12,185 |  |  | $ | 12,213 |  |  | $ | 10,352 |
Cash received from the exercise of stock options |  | $ | 14,802 |  |  | $ | 18,089 |  |  | $ | 7,372 |
Tax benefits realized from tax deductions resulting from RSU issuances and stock option exercises |  | $ | 2,273 |  |  | $ | 2,161 |  |  | $ | 1,500 |
Schedule of Restricted Shares | A summary of the Company’s RSUs granted under the 2005 Plan and 2020 Plan is presented below:
RSUs |  | Shares (in thousands) |  | Weighted Average Grant Date Fair Value
Unvested at March 31, 2022 |  | 440.9 |  |  | $ | 38.45 |
Granted |  | 151.0 |  |  | 55.03 |
Incremental performance shares |  | 42.4 |  | — |
Vested |  | (223.4) |  |  | 32.09 |
Forfeited |  | (1.9) |  |  | 49.51 |
Unvested at March 31, 2023 |  | 409.0 |  |  | 47.17 |
Vested at March 31, 2023 |  | 108.5 |  |  | 36.54 |
Granted |  | 157.1 |  |  | 62.06 |
Incremental performance shares |  | 41.4 |  |  | — |
Vested |  | (205.0) |  |  | 43.17 |
Forfeited |  | (10.6) |  |  | 52.68 |
Unvested at March 31, 2024 |  | 391.9 |  |  | 54.43 |
Vested at March 31, 2024 |  | 110.2 |  |  | 38.77 |
Granted |  | 166.8 |  |  | 70.31 |
Incremental performance shares |  | 41.1 |  | — |
Vested |  | (192.7) |  |  | 47.60 |
Forfeited |  | (4.9) |  |  | 59.31 |
Unvested at March 31, 2025 |  | 402.2 |  |  | 63.20 |
Vested at March 31, 2025 |  | 97.6 |  |  | 39.90 |
Schedule of Stock Options, Valuation Assumptions |
| Year Ended March 31,
| 2025 |  | 2024 |  | 2023
Expected volatility | 30.4% - 30.8% |  | 30.2% - 31.6% |  | 30.8% to 30.9%
Expected dividends | — |  | — |  | —
Expected term in years | 6.0 to 7.0 |  | 6.0 to 7.0 |  | 6.0 to 7.0
Risk-free rate | 4.5% |  | 3.6% to 4.1% |  | 2.8% to 2.9%
Weighted average grant date fair value of options granted | $27.97 |  | $23.79 |  | $20.10
Schedule of Stock Option Activity | A summary of option activity under the 2005 Plan and 2020 Plan is as follows:
Options |  | Shares (in thousands) |  | Weighted Average Exercise Price |  | Weighted Average Remaining Contractual Term |  | Aggregate Intrinsic Value (in thousands)
Outstanding at March 31, 2022 |  | 1,100.9 |  |  | $ | 40.62 |  |  |  |  |
Granted |  | 197.6 |  |  | 54.48 |  |  |  |  |
Exercised |  | (205.2) |  |  | 35.93 |  |  |  |  |
Forfeited |  | (10.3) |  |  | 49.53 |  |  |  |  |
Expired |  | (2.0) |  |  | 42.63 |  |  |  |  |
Outstanding at March 31, 2023 |  | 1,081.0 |  |  | 43.96 |  |  |  |  |
Granted |  | 131.1 |  |  | 61.81 |  |  |  |  |
Exercised |  | (440.3) |  |  | 41.08 |  |  |  |  |
Forfeited |  | (41.0) |  |  | 54.15 |  |  |  |  |
Expired |  | (2.8) |  |  | 54.47 |  |  |  |  |
Outstanding at March 31, 2024 |  | 728.0 |  |  | 48.30 |  |  |  |  |
Granted |  | 109.7 |  |  | 69.94 |  |  |  |  |
Exercised |  | (303.4) |  |  | 48.77 |  |  |  |  |
Forfeited |  | (15.6) |  |  | 60.87 |  |  |  |  |
Outstanding at March 31, 2025 |  | 518.7 |  |  | 52.22 |  |  | 6.7 |  | $ | 17,507 |
Exercisable at March 31, 2025 |  | 290.3 |  |  | 42.92 |  |  | 5.4 |  | $ | 12,499 |

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