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ACQUISITION (Tables) | 6 Months Ended
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Sep. 30, 2017
Business Combinations [Abstract] |
Components of Purchase Price Allocation | The following table summarizes the provisional allocation of the Fairborn Purchase Price to assets acquired and liabilities assumed as of the acquisition date:
Purchase price allocation at acquisition date (in thousands) |  | As of February 10, 2017 |
Inventories |  | $ | 11,106 |
Property and Equipment |  |  | 314,897 |
Intangible Assets |  |  | 10,000 |
Other Assets |  |  | 4,000 |
Asset Retirement Obligation |  |  | (4,000 | )
Total Net Assets |  |  | 336,003 |
Goodwill |  |  | 64,485 |
Total Estimated Purchase Price |  | $ | 400,488 |
Summary of Fair Value Estimates of Identifiable Intangible Assets and Weighted-Average Useful Lives | The following table is a summary of the fair value estimates of the identifiable intangible assets (in thousands) and their weighted-average useful lives:
|  | Weighted Average Life |  |  | Estimated Fair Value |
Customer Relationships |  |  | 15 |  |  |  | 9,000 |
Permits |  |  | 40 |  |  |  | 1,000 |
Total Intangible Assets |  |  |  |  |  | $ | 10,000 |
Net Sales and Operating Earnings Related to Fairborn Acquisition | The following table presents the net sales and operating earnings related to the Fairborn Acquisition that have been included in our consolidated statement of earnings for the three and six months ended September 30, 2017:
|  | For the Three Months |  |  | For the Six Months |
|  | Ended September 30, |  |  | Ended September 30, |
|  | 2017 |  |  | 2017 |
|  | (dollars in thousands) |
Revenues |  | $ | 25,266 |  |  | $ | 47,421 |
Operating Earnings |  | $ | 7,855 |  |  | $ | 13,833 |
Unaudited Pro Forma Results |
|  | For the Three Months Ended September 30, 2016 |  |  | For the Six Months Ended September 30, 2016 |
|  | (dollars in thousands) |
Revenues |  | $ | 356,846 |  |  | $ | 677,532 |
Net Income |  | $ | 63,471 |  |  | $ | 111,336 |
Earnings per share – basis |  | $ | 1.33 |  |  | $ | 2.32 |
Earnings per share - diluted |  | $ | 1.32 |  |  | $ | 2.30 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1486-128463 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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