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INCOME TAXES (Tables) | 12 Months Ended
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Mar. 31, 2018
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, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | (dollars in thousands) |
Current Provision (Benefit) - |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 58,695 |  |  | $ | 86,459 |  |  | $ | 64,256 |
State |  |  | 5,989 |  |  |  | 7,638 |  |  |  | 4,727 |
|  |  | 64,684 |  |  |  | 94,097 |  |  |  | 68,983 |
Deferred Provision (Benefit) - |  |  |  |  |  |  |  |  |  |  |  |
Federal |  |  | (52,333 | ) |  |  | 7,274 |  |  |  | (546 | )
State |  |  | 2,979 |  |  |  | (5,071 | ) |  |  | (1,777 | )
|  |  | (49,354 | ) |  |  | 2,203 |  |  |  | (2,323 | )
Provision for Income Taxes |  | $ | 15,330 |  |  | $ | 96,300 |  |  | $ | 66,660 |
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, |
|  | 2018 |  |  | 2017 |  |  | 2016 |
|  | (dollars in thousands) |
Earnings Before Income Taxes |  | $ | 271,962 |  |  | $ | 294,519 |  |  | $ | 219,252 |
Income Taxes at Statutory Rate |  | $ | 85,804 |  |  | $ | 103,082 |  |  | $ | 76,738 |
Increases (Decreases) in Tax Resulting from - |  |  |  |  |  |  |  |  |  |  |  |
State Income Taxes, net |  |  | 6,139 |  |  |  | 1,668 |  |  |  | 1,166 |
Statutory Depletion in Excess of Cost |  |  | (6,341 | ) |  |  | (1,216 | ) |  |  | (5,672 | )
Domestic Production Activities Deduction |  |  | (5,995 | ) |  |  | (7,615 | ) |  |  | (6,302 | )
Excess Tax Benefit from Stock Compensation |  |  | (4,129 | ) |  |  | — |  |  |  | — |
Meals and Entertainment Disallowance |  |  | 567 |  |  |  | 626 |  |  |  | 629 |
Limitation on Officer's Compensation |  |  | 246 |  |  |  | — |  |  |  | — |
Impact of Tax Cuts and Jobs Act of 2017 |  |  | (61,692 | ) |  |  | — |  |  |  | — |
Other |  |  | 731 |  |  |  | (245 | ) |  |  | 101 |
Provision for Income Taxes |  | $ | 15,330 |  |  | $ | 96,300 |  |  | $ | 66,660 |
Effective Tax Rate |  |  | 6 | % |  |  | 33 | % |  |  | 30 | %
Schedule of Components of Deferred Income Taxes | Components of deferred income taxes are as follows:
|  | March 31, |
|  | 2018 |  |  | 2017 |
|  | (dollars in thousands) |
Items Giving Rise to Deferred Tax Liabilities - |  |  |  |  |  |  |  |
Excess Tax Depreciation and Amortization |  | $ | (106,367 | ) |  | $ | (161,204 | )
Depletion |  |  | (11,069 | ) |  |  | (18,638 | )
State Income Taxes, net |  |  | (14,265 | ) |  |  | (11,455 | )
Other |  |  | (5,957 | ) |  |  | (8,515 | )
Total Deferred Tax Liabilities |  | $ | (137,658 | ) |  | $ | (199,812 | )
Items Giving Rise to Deferred Tax Assets - |  |  |  |  |  |  |  |
Change in Accruals |  | $ | 8,965 |  |  | $ | 12,992 |
Inventory |  |  | 4,276 |  |  |  | 1,242 |
Bad Debts |  |  | 1,891 |  |  |  | 3,895 |
Long-term Incentive Compensation Plan |  |  | 4,616 |  |  |  | 8,691 |
Credits and Other Carryforwards |  |  | 12,879 |  |  |  | 13,103 |
Pension |  |  | 1,108 |  |  |  | 4,178 |
Other |  |  | — |  |  |  | 218 |
Subtotal |  |  | 33,735 |  |  |  | 44,319 |
Valuation Allowance |  |  | (15,043 | ) |  |  | (10,531 | )
Total Deferred Tax Assets |  | $ | 18,692 |  |  | $ | 33,788 |

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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=84230637&loc=d3e32537-109319 + Details
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