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Income Taxes (Tables)

12 Months Ended

Mar. 31, 2017

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,
		2017				2016				2015
		(dollars in thousands)
Current Provision (Benefit) -
Federal		$	86,459			$	64,256			$	62,424
State			7,638				4,727				(2,155	)
			94,097				68,983				60,269
Deferred Provision (Benefit) -
Federal			7,274				(546	)			(962	)
State			(5,071	)			(1,777	)			6,767
			2,203				(2,323	)			5,805
Provision for Income Taxes		$	96,300			$	66,660			$	66,074

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,
		2017				2016				2015
		(dollars in thousands)
Earnings Before Income Taxes		$	294,519			$	219,252			$	252,927
Income Taxes at Statutory Rate		$	103,082			$	76,738			$	88,524
Increases (Decreases) in Tax Resulting from -
State Income Taxes, net			1,668				1,166				4,582
Statutory Depletion in Excess of Cost			(1,216	)			(5,672	)			(4,367	)
Domestic Production Activities Deduction			(7,615	)			(6,302	)			(6,853	)
Meals and Entertainment Disallowance			626				629				647
IRS Settlement			—				—				(16,559	)
Other			(245	)			101				100
Provision for Income Taxes		$	96,300			$	66,660			$	66,074
Effective Tax Rate			33	%			30	%			26	%

Schedule of Components of Deferred Income Taxes

Components of deferred income taxes are as follows:

		March 31,
		2017				2016
		(dollars in thousands)
Items Giving Rise to Deferred Tax Liabilities -
Excess Tax Depreciation and Amortization		$	(161,204	)		$	(157,260	)
Depletion			(18,638	)			(21,911	)
Repair Parts			(1,747	)			(2,446	)
State Income Taxes, net			(8,883	)			(12,552	)
Other			(8,515	)			(4,147	)
Total Deferred Tax Liabilities		$	(198,987	)		$	(198,316	)
Items Giving Rise to Deferred Tax Assets -
Accrual Changes		$	12,992			$	11,855
Bad Debts			3,895				3,604
Uniform Capitalization			2,989				2,174
Deferred Revenue			—				700
Long-term Incentive Compensation Plan			8,691				11,458
Pension and Other			4,396				6,846
Total Deferred Tax Assets		$	32,963			$	36,637

Reconciliation of Consolidated Liability for Gross Unrecognized Tax Benefits

Reconciliation of the consolidated liability for gross unrecognized tax benefits, excluding interest, from April 1, 2014 to March 31, 2017, is as follows:

		For the Years Ended March 31,
		2017				2016				2015
		(dollars in thousands)
Balance at Beginning of Year		$	—			$	—			$	24,802
Increase related to prior tax positions			—				—				—
Decrease related to prior tax positions			—				—				(24,802	)
Payments			—				—				—
		$	—			$	—			$	—

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,
		2017				2016				2015
		(dollars in thousands)
Accrued interest recognized		$	—			$	—			$	(3,847	)
Accrued penalties recognized		$	—			$	—			$	(6,475	)

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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.

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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.

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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.

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Tabular disclosure of the change in unrecognized tax benefits.

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Tabular disclosure for 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 and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months.

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