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SEGMENT INFORMATION (Tables) | 6 Months Ended
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Sep. 30, 2015
Segment Reporting [Abstract] |
Financial Information Related to Operations by Segment | The following table sets forth certain financial information relating to our operations by segment:
|  | For the Three Months |  |  | For the Six Months |
|  | Ended September 30, |  |  | Ended September 30, |
|  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
|  | (dollars in thousands) |  |  | (dollars in thousands) |
Revenues - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cement |  | $ | 164,790 |  |  | $ | 145,861 |  |  | $ | 292,966 |  |  | $ | 273,797 |
Gypsum Wallboard |  |  | 119,701 |  |  |  | 111,655 |  |  |  | 234,753 |  |  |  | 224,332 |
Paperboard |  |  | 39,145 |  |  |  | 35,579 |  |  |  | 74,463 |  |  |  | 73,058 |
Oil and Gas Proppants |  |  | 18,307 |  |  |  | 10,414 |  |  |  | 41,132 |  |  |  | 21,594 |
Concrete and Aggregates |  |  | 36,671 |  |  |  | 31,961 |  |  |  | 65,203 |  |  |  | 58,123 |
Sub-total |  |  | 378,614 |  |  |  | 335,470 |  |  |  | 708,517 |  |  |  | 650,904 |
Less: Intersegment Revenues |  |  | (20,090 | ) |  |  | (17,523 | ) |  |  | (38,019 | ) |  |  | (34,128 | )
Net Revenues, including Joint Venture |  |  | 358,524 |  |  |  | 317,947 |  |  |  | 670,498 |  |  |  | 616,776 |
Less: Joint Venture |  |  | (29,536 | ) |  |  | (33,139 | ) |  |  | (56,547 | ) |  |  | (65,717 | )
Net Revenues |  | $ | 328,988 |  |  | $ | 284,808 |  |  | $ | 613,951 |  |  | $ | 551,059 |
|  | For the Three Months |  |  | For the Six Months |
|  | Ended September 30, |  |  | Ended September 30, |
|  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
|  | (dollars in thousands) |  |  | (dollars in thousands) |
Intersegment Revenues - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cement |  | $ | 4,232 |  |  | $ | 2,911 |  |  | $ | 7,358 |  |  | $ | 5,271 |
Paperboard |  |  | 15,596 |  |  |  | 14,324 |  |  |  | 30,147 |  |  |  | 28,340 |
Concrete and Aggregates |  |  | 262 |  |  |  | 288 |  |  |  | 514 |  |  |  | 517 |
|  | $ | 20,090 |  |  | $ | 17,523 |  |  | $ | 38,019 |  |  | $ | 34,128 |
Cement Sales Volume (in thousands of tons) - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Wholly –owned Operations |  |  | 1,248 |  |  |  | 1,193 |  |  |  | 2,239 |  |  |  | 2,200 |
Joint Venture |  |  | 236 |  |  |  | 283 |  |  |  | 448 |  |  |  | 567 |
|  |  | 1,484 |  |  |  | 1,476 |  |  |  | 2,687 |  |  |  | 2,767 |
|  | For the Three Months |  |  | For the Six Months |
|  | Ended September 30, |  |  | Ended September 30, |
|  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
|  | (dollars in thousands) |  |  | (dollars in thousands) |
Operating Earnings - |  |  |  |  |  |  |  |
Cement |  | $ | 48,577 |  |  | $ | 38,450 |  |  | $ | 74,290 |  |  | $ | 58,957 |
Gypsum Wallboard |  |  | 40,002 |  |  |  | 37,002 |  |  |  | 80,896 |  |  |  | 74,430 |
Paperboard |  |  | 8,138 |  |  |  | 7,984 |  |  |  | 14,168 |  |  |  | 15,531 |
Oil and Gas Proppants |  |  | (44,600 | ) |  |  | 711 |  |  |  | (50,236 | ) |  |  | 74 |
Concrete and Aggregates |  |  | 3,857 |  |  |  | 2,965 |  |  |  | 5,783 |  |  |  | 4,321 |
Other, net |  |  | 572 |  |  |  | 883 |  |  |  | 1,007 |  |  |  | 1,562 |
Sub-total |  |  | 56,546 |  |  |  | 87,995 |  |  |  | 125,908 |  |  |  | 154,875 |
Corporate General and Administrative |  |  | (9,364 | ) |  |  | (7,414 | ) |  |  | (18,355 | ) |  |  | (14,456 | )
Acquisition and Litigation Expense |  |  | - |  |  |  | (2,103 | ) |  |  | - |  |  |  | (2,103 | )
Earnings Before Interest and Income Taxes |  |  | 47,182 |  |  |  | 78,478 |  |  |  | 107,553 |  |  |  | 138,316 |
Interest Expense, net |  |  | (4,342 | ) |  |  | (3,901 | ) |  |  | (8,828 | ) |  |  | (7,953 | )
Earnings Before Income Taxes |  | $ | 42,840 |  |  | $ | 74,577 |  |  | $ | 98,725 |  |  | $ | 130,363 |
Cement Operating Earnings - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Wholly–owned Operations |  | $ | 36,897 |  |  | $ | 26,399 |  |  | $ | 54,780 |  |  | $ | 37,106 |
Joint Venture |  |  | 11,680 |  |  |  | 12,051 |  |  |  | 19,510 |  |  |  | 21,851 |
|  | $ | 48,577 |  |  | $ | 38,450 |  |  | $ | 74,290 |  |  | $ | 58,957 |
Capital Expenditures - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cement |  | $ | 5,349 |  |  | $ | 4,176 |  |  | $ | 13,499 |  |  | $ | 12,996 |
Gypsum Wallboard |  |  | 203 |  |  |  | 1,558 |  |  |  | 1,700 |  |  |  | 3,793 |
Paperboard |  |  | 2,424 |  |  |  | 823 |  |  |  | 3,268 |  |  |  | 1,149 |
Oil and Gas Proppants |  |  | 16,744 |  |  |  | 6,000 |  |  |  | 32,711 |  |  |  | 13,602 |
Concrete and Aggregates |  |  | 4,027 |  |  |  | 4,219 |  |  |  | 4,691 |  |  |  | 8,349 |
Other |  |  | - |  |  |  | 82 |  |  |  | - |  |  |  | 150 |
|  | $ | 28,747 |  |  | $ | 16,858 |  |  | $ | 55,869 |  |  | $ | 40,039 |
Depreciation, Depletion and Amortization - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cement |  | $ | 8,629 |  |  | $ | 7,987 |  |  | $ | 16,495 |  |  | $ | 15,870 |
Gypsum Wallboard |  |  | 4,819 |  |  |  | 5,031 |  |  |  | 9,605 |  |  |  | 10,129 |
Paperboard |  |  | 2,063 |  |  |  | 2,058 |  |  |  | 4,116 |  |  |  | 4,127 |
Oil and Gas Proppants |  |  | 7,205 |  |  |  | 684 |  |  |  | 14,764 |  |  |  | 1,253 |
Concrete and Aggregates |  |  | 1,565 |  |  |  | 1,369 |  |  |  | 3,070 |  |  |  | 2,593 |
Other, net |  |  | 489 |  |  |  | 445 |  |  |  | 984 |  |  |  | 892 |
|  | $ | 24,770 |  |  | $ | 17,574 |  |  | $ | 49,034 |  |  | $ | 34,864 |
|  | As of |
|  | September 30, 2015 |  |  | March 31, 2015 |
|  | (dollars in thousands) |
Identifiable Assets - |  |  |  |  |  |  |  |
Cement |  | $ | 836,927 |  |  | $ | 777,956 |
Gypsum Wallboard |  |  | 393,602 |  |  |  | 403,279 |
Paperboard |  |  | 126,497 |  |  |  | 123,519 |
Oil and Gas Proppants |  |  | 434,093 |  |  |  | 455,572 |
Concrete and Aggregates |  |  | 109,154 |  |  |  | 96,610 |
Corporate and Other |  |  | 19,977 |  |  |  | 25,655 |
|  | $ | 1,920,250 |  |  | $ | 1,882,591 |
Segment Breakdown of Goodwill | The segment breakdown of goodwill is as follows:
|  | As of |
|  | September 30, |  |  | March 31, |
|  | 2015 |  |  | 2015 |
|  | (dollars in thousands) |
Cement |  | $ | 9,729 |  |  | $ | 8,359 |
Gypsum Wallboard |  |  | 116,618 |  |  |  | 116,618 |
Paperboard |  |  | 7,538 |  |  |  | 7,538 |
|  | $ | 133,885 |  |  | $ | 132,515 |
Summarized Financial Information for Joint Venture Unconsolidated | Summarized financial information for the Joint Venture that is not consolidated is set out below (this summarized financial information includes the total amount for the Joint Venture and not our 50% interest in those amounts):
|  | For the Three Months Ended September 30, |  |  | For the Six Months Ended September 30, |
|  | 2015 |  |  | 2014 |  |  | 2015 |  |  | 2014 |
|  | (dollars in thousands) |  |  | (dollars in thousands) |
Revenues |  | $ | 59,071 |  |  | $ | 66,278 |  |  | $ | 113,094 |  |  | $ | 131,434 |
Gross Margin |  | $ | 25,193 |  |  | $ | 25,369 |  |  | $ | 42,204 |  |  | $ | 45,827 |
Earnings Before Income Taxes |  | $ | 23,360 |  |  | $ | 24,102 |  |  | $ | 39,020 |  |  | $ | 43,702 |
|  | As of |
|  | September 30, 2015 |  |  | March 31, 2015 |
|  | (dollars in thousands) |
Current Assets |  | $ | 74,991 |  |  | $ | 68,399 |
Non-Current Assets |  | $ | 42,154 |  |  | $ | 42,765 |
Current Liabilities |  | $ | 20,958 |  |  | $ | 19,723 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8813-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8736-108599 + Details
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