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Income Taxes (Tables) | 12 Months Ended
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Mar. 31, 2016
Income Tax Disclosure [Abstract] |
Schedule of Components of Provision for Income Taxes | The provision for income taxes includes the following components:
|  | For the Years Ended March 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | (dollars in thousands) |
Current Provision (Benefit) - |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 64,256 |  |  | $ | 62,424 |  |  | $ | 49,604 |
State |  |  | 4,727 |  |  |  | (2,155 | ) |  |  | 2,211 |
|  |  | 68,983 |  |  |  | 60,269 |  |  |  | 51,815 |
Deferred Provision (Benefit) - |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (546 | ) |  |  | (962 | ) |  |  | 7,691 |
State |  |  | (1,777 | ) |  |  | 6,767 |  |  |  | (1,945 | )
|  |  | (2,323 | ) |  |  | 5,805 |  |  |  | 5,746 |
Provision for Income Taxes |  | $ | 66,660 |  |  | $ | 66,074 |  |  | $ | 57,561 |
Schedule of Effective Tax Rates Vary from Federal Statutory Rates | The effective tax rates vary from the federal statutory rates due to the following items:
|  | For the Years Ended March 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | (dollars in thousands) |
Earnings Before Income Taxes |  | $ | 219,252 |  |  | $ | 252,927 |  |  | $ | 181,804 |
Income Taxes at Statutory Rate |  | $ | 76,738 |  |  | $ | 88,524 |  |  | $ | 63,631 |
Increases (Decreases) in Tax Resulting from - |  |  |  |  |  |  |  |  |  |  |  |
State Income Taxes, net |  |  | 1,166 |  |  |  | 4,582 |  |  |  | 173 |
Statutory Depletion in Excess of Cost |  |  | (5,672 | ) |  |  | (4,367 | ) |  |  | (3,512 | )
Domestic Production Activities Deduction |  |  | (6,302 | ) |  |  | (6,853 | ) |  |  | (3,453 | )
Meals and Entertainment Disallowance |  |  | 629 |  |  |  | 647 |  |  |  | 503 |
Penalties on Uncertain Tax Positions |  |  | — |  |  |  | — |  |  |  | 213 |
IRS Settlement |  |  | — |  |  |  | (16,559 | ) |  |  | — |
Other |  |  | 101 |  |  |  | 100 |  |  |  | 6 |
Provision for Income Taxes |  | $ | 66,660 |  |  | $ | 66,074 |  |  | $ | 57,561 |
Effective Tax Rate |  |  | 30% |  |  |  | 26% |  |  |  | 32 | %
Schedule of Deferred Income Tax Provision | The deferred income tax provision results from the following temporary differences in the recognition of revenues and expenses for tax and financial reporting purposes:
|  | For the Years Ended March 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | (dollars in thousands) |
Excess Tax Depreciation and Amortization |  | $ | 3,284 |  |  | $ | 2,259 |  |  | $ | 6,875 |
Bad Debts |  |  | (1,340 | ) |  |  | (142 | ) |  |  | (224 | )
Uniform Capitalization |  |  | (1,339 | ) |  |  | 1,296 |  |  |  | (1,127 | )
Accrual Changes |  |  | (1,298 | ) |  |  | (611 | ) |  |  | (1,075 | )
Uncertain Tax Position Accruals |  |  | — |  |  |  | — |  |  |  | 213 |
Prepaid Insurance |  |  | (1,149 | ) |  |  | (331 | ) |  |  | 424 |
State Income Taxes, net |  |  | (1,155 | ) |  |  | 6,060 |  |  |  | (1,319 | )
Reversal of Prepaid Sand Liability |  |  | 3,682 |  |  |  | — |  |  |  | — |
Long-term Incentive Compensation Plans |  |  | (3,140 | ) |  |  | (1,792 | ) |  |  | (373 | )
Other |  |  | 132 |  |  |  | (934 | ) |  |  | 1,033 |
|  | $ | (2,323 | ) |  | $ | 5,805 |  |  | $ | 5,746 |
Schedule of Components of Deferred Income Taxes | Components of deferred income taxes are as follows:
|  | March 31, |
|  | 2016 |  |  | 2015 |
|  | (dollars in thousands) |
Items Giving Rise to Deferred Tax Liabilities - |  |  |  |  |  |  |  |
Excess Tax Depreciation and Amortization |  | $ | (157,260 | ) |  | $ | (153,045 | )
Depletion |  |  | (21,911 | ) |  |  | (18,374 | )
Repair Parts |  |  | (2,446 | ) |  |  | (3,376 | )
State Income Taxes, net |  |  | (12,552 | ) |  |  | (13,708 | )
Other |  |  | (4,147 | ) |  |  | (5,359 | )
Total Deferred Tax Liabilities |  | $ | (198,316 | ) |  | $ | (193,862 | )
Items Giving Rise to Deferred Tax Assets - |  |  |  |  |  |  |  |
Accrual Changes |  | $ | 11,855 |  |  | $ | 10,557 |
Bad Debts |  |  | 3,604 |  |  |  | 2,264 |
Uniform Capitalization |  |  | 2,174 |  |  |  | 835 |
Deferred Revenue |  |  | 700 |  |  |  | 4,382 |
Long-term Incentive Compensation Plan |  |  | 11,458 |  |  |  | 8,318 |
Other |  |  | 6,846 |  |  |  | 7,118 |
Total Deferred Tax Assets |  | $ | 36,637 |  |  | $ | 33,474 |
Schedule of Income Taxes Classified in Consolidated Balance Sheet | Deferred income taxes are classified in the consolidated balance sheet as follows:
|  | March 31, |
|  | 2016 |  |  | 2015 |
|  | (dollars in thousands) |
Deferred Income Taxes |  | $ | (161,679 | ) |  | $ | (160,388 | )
Reconciliation of Consolidated Liability for Gross Unrecognized Tax Benefits | Reconciliation of the consolidated liability for gross unrecognized tax benefits, excluding interest, from April 1, 2013 to March 31, 2016, is as follows:
|  | For the Years Ended March 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | (dollars in thousands) |
Balance at Beginning of Year |  | $ | — |  |  | $ | 24,802 |  |  | $ | 24,589 |
Increase related to prior tax positions |  |  | — |  |  |  | — |  |  |  | 213 |
Decrease related to prior tax positions |  |  | — |  |  |  | (24,802 | ) |  |  | — |
Payments |  |  | — |  |  |  | — |  |  |  | — |
|  | $ | — |  |  | $ | — |  |  | $ | 24,802 |
Summary of Amounts of Interest and Penalties Recognized in Relation to Uncertain Tax Position | The following is a summary of the amounts of interest and penalties recognized in relation to our uncertain tax position:
|  | For the Years Ended March 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
|  | (dollars in thousands) |
Accrued interest recognized |  | $ | — |  |  | $ | (3,847 | ) |  | $ | 641 |
Accrued penalties recognized |  | $ | — |  |  | $ | (6,475 | ) |  | $ | 213 |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319 + Details
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- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32687-109319 + Details
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- Definition Tabular disclosure of tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities (i.e., uncertain tax positions) and other types of income tax contingencies, including: (1) the policy on classification of interest and penalties; (2) a tabular reconciliation of the total amounts of unrecognized tax benefits at the beginning and end of the period; the total amount(s) of: (3) unrecognized tax benefits that, if recognized, would affect the effective tax rate, and (4) interest and penalties recognized in each of the income statement and balance sheet; (5) for positions for which it is reasonably possible that the total amounts unrecognized will significantly change within 12 months of the reporting date the: (i) nature of the uncertainty, (ii) nature of the event that could occur that would cause the change, and (iii) an estimate of the range of the reasonably possible change or a statement that an estimate of the range cannot be made; and (6) a description of tax years that remain subject to examination by major tax jurisdictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319 + Details
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