SEGMENT INFORMATION (Tables)

6 Months Ended

Sep. 30, 2015

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