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STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Dec. 31, 2018

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]

Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block]

Fair value was estimated at grant date using the weighted-average assumptions listed below:

	Nine months ended December 31,
	2018		2017
Dividend Yield	—%		—%
Expected Volatility	48.95%		52.97%
Average risk-free rate	3.06%		1.97%
Expected Life	6.7 years		5.0 years

Tabular disclosure of performance shares vesting based on EPS targets [Table Text Block]

The Performance Option performance target is set forth below.

Trailing 4-Quarter EPS Targets for September 30, 2018 through March 31, 2025	Options Eligible for Vesting (Percentage of Award)
$25.30	100%

The Performance Share performance targets are set forth below.

Trailing 4-Quarter EPS Targets for September 30, 2018 through March 31, 2025	Restricted Stock Eligible for Vesting (Percentage of Award)
$16.35	40%
$20.45	60%

Summary schedule of stock option activity

ption activity for the nine months ended December 31, 2018 was as follows:

	Shares			Weighted Average Exercise Price				Weighted Average Remaining Contractual Term		Aggregate Intrinsic Value
Options outstanding, beginning of period	497,728			$	70.69
Granted during period	294,630			100.79
Exercised during period	(45,456	)		61.94
Forfeited during period	(6,845	)		72.64
Expired during period	(3,052	)		33.91
Options outstanding, end of period	737,005			$	83.38			7.0 years		$	13,941,136
Options exercisable, end of period	361,283			$	71.25			4.7 years		$	11,217,190

Intrinsic value of options exercised

The total intrinsic value of options exercised during the periods ended December 31, 2018 and 2017 was as follows:

	December 31, 2018				December 31, 2017
Three months ended	$	1,159,858			$	1,334,062
Nine months ended	$	2,251,405			$	4,010,659

Summary of the status and changes restricted stock

A summary of the status of the Company’s restricted stock as of December 31, 2018, and changes during the nine months ended December 31, 2018, are presented below:

	Shares			Weighted Average Fair Value at Grant Date
Outstanding at March 31, 2018	73,810			$	65.74
Granted during the period	725,420			100.99
Vested during the period	(39,392	)		55.51
Forfeited during the period	—			—
Outstanding at December 31, 2018	759,838			$	99.93

Share-based compensation included as a component of net income

Total stock-based compensation included as a component of net income during the three and nine-month periods ended December 31, 2018 and 2017 was as follows:

	Three months ended December 31,							Nine months ended December 31,
	2018				2017			2018				2017
Stock-based compensation related to equity classified awards:
Stock-based compensation related to stock options	$	1,361,349			712,286			$	2,424,986			$	1,834,513
Stock-based compensation related to restricted stock, net of adjustments and exclusive of cancellations	5,565,768				323,201			7,480,117				1,613,319
Total stock-based compensation related to equity classified awards	$	6,927,117			1,035,487			$	9,905,103			$	3,447,832

X

- Definition

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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