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ACQUISITION (Tables)

6 Months Ended

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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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)-(3)
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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)
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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.

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-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

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