XML 48 R39.htm IDEA: XBRL DOCUMENT
v3.19.3

FINANCIAL STATEMENTS FOR GUARANTORS OF THE 4.500% SENIOR UNSECURED NOTES (Tables) | 6 Months Ended
--- | ---
Sep. 30, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract] |
Condensed Consolidating Statement of Earnings and Comprehensive Earnings |
Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Three Months Ended September 30, 2019 |  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenue |  | $ | — |  |  | $ | 414,526 |  |  | $ | — |  |  | $ | 414,526 |
Cost of Goods Sold |  |  | — |  |  |  | 310,020 |  |  |  | — |  |  |  | 310,020 |
Gross Profit |  |  | — |  |  |  | 104,506 |  |  |  | — |  |  |  | 104,506 |
Equity in Earnings of Unconsolidated Joint Venture |  |  | 12,357 |  |  |  | 12,357 |  |  |  | (12,357 | ) |  |  | 12,357 |
Equity in Earnings of Subsidiaries |  |  | 79,981 |  |  |  | — |  |  |  | (79,981 | ) |  |  | — |
Corporate General and Administrative Expenses |  |  | (12,958 | ) |  |  | (500 | ) |  |  | — |  |  |  | (13,458 | )
Other Non-Operating Income |  |  | (19 | ) |  |  | 961 |  |  |  | — |  |  |  | 942 |
Interest Expense, net |  |  | (10,124 | ) |  |  | (13 | ) |  |  | — |  |  |  | (10,137 | )
Earnings before Income Taxes |  |  | 69,237 |  |  |  | 117,311 |  |  |  | (92,338 | ) |  |  | 94,210 |
Income Taxes |  |  | 2,556 |  |  |  | (24,973 | ) |  |  | — |  |  |  | (22,417 | )
Net Earnings |  | $ | 71,793 |  |  | $ | 92,338 |  |  | $ | (92,338 | ) |  | $ | 71,793 |
Net Earnings |  | $ | 71,793 |  |  | $ | 92,338 |  |  | $ | (92,338 | ) |  | $ | 71,793 |
Net Actuarial Change in Benefit Plans, net of tax |  |  | 33 |  |  |  | 33 |  |  |  | (33 | ) |  |  | 33 |
Comprehensive Earnings |  | $ | 71,826 |  |  | $ | 92,371 |  |  | $ | (92,371 | ) |  | $ | 71,826 |
Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Three Months Ended September 30, 2018 |  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenue |  | $ | — |  |  | $ | 381,499 |  |  | $ | — |  |  | $ | 381,499 |
Cost of Goods Sold |  |  | — |  |  |  | 283,568 |  |  |  | — |  |  |  | 283,568 |
Gross Profit |  |  | — |  |  |  | 97,931 |  |  |  | — |  |  |  | 97,931 |
Equity in Earnings of Unconsolidated Joint Venture |  |  | 10,173 |  |  |  | 10,173 |  |  |  | (10,173 | ) |  |  | 10,173 |
Equity in Earnings of Subsidiaries |  |  | 75,030 |  |  |  | — |  |  |  | (75,030 | ) |  |  | — |
Corporate General and Administrative Expenses |  |  | (9,090 | ) |  |  | (832 | ) |  |  | — |  |  |  | (9,922 | )
Other Non-Operating Income |  |  | (126 | ) |  |  | 554 |  |  |  | — |  |  |  | 428 |
Interest Expense, net |  |  | (6,806 | ) |  |  | (11 | ) |  |  | — |  |  |  | (6,817 | )
Earnings before Income Taxes |  |  | 69,181 |  |  |  | 107,815 |  |  |  | (85,203 | ) |  |  | 91,793 |
Income Taxes |  |  | 3,421 |  |  |  | (22,611 | ) |  |  | — |  |  |  | (19,190 | )
Net Earnings |  | $ | 72,602 |  |  | $ | 85,204 |  |  | $ | (85,203 | ) |  | $ | 72,603 |
Net Earnings |  | $ | 72,603 |  |  | $ | 85,204 |  |  | $ | (85,203 | ) |  |  | 72,603 |
Net Actuarial Change in Benefit Plans, net of tax |  |  | 56 |  |  |  | 56 |  |  |  | (56 | ) |  |  | 56 |
Comprehensive Earnings |  | $ | 72,659 |  |  | $ | 85,260 |  |  | $ | (85,259 | ) |  | $ | 72,659 |
Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Six Months Ended September 30, 2019 |  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenue |  | $ | — |  |  | $ | 785,123 |  |  | $ | — |  |  | $ | 785,123 |
Cost of Goods Sold |  |  | — |  |  |  | 605,288 |  |  |  | — |  |  |  | 605,288 |
Gross Profit |  |  | — |  |  |  | 179,835 |  |  |  | — |  |  |  | 179,835 |
Equity in Earnings of Unconsolidated Joint Venture |  |  | 21,789 |  |  |  | 21,789 |  |  |  | (21,789 | ) |  |  | 21,789 |
Equity in Earnings of Subsidiaries |  |  | 135,723 |  |  |  | — |  |  |  | (135,723 | ) |  |  | — |
Corporate General and Administrative Expenses |  |  | (33,926 | ) |  |  | (786 | ) |  |  | — |  |  |  | (34,712 | )
Other Non-Operating Income |  |  | 407 |  |  |  | 735 |  |  |  | — |  |  |  | 1,142 |
Interest Expense, net |  |  | (18,958 | ) |  |  | (25 | ) |  |  | — |  |  |  | (18,983 | )
Earnings before Income Taxes |  |  | 105,035 |  |  |  | 201,548 |  |  |  | (157,512 | ) |  |  | 149,071 |
Income Taxes |  |  | 8,062 |  |  |  | (44,036 | ) |  |  | — |  |  |  | (35,974 | )
Net Earnings |  | $ | 113,097 |  |  | $ | 157,512 |  |  | $ | (157,512 | ) |  | $ | 113,097 |
Net Earnings |  | $ | 113,097 |  |  | $ | 157,512 |  |  | $ | (157,512 | ) |  | $ | 113,097 |
Net Actuarial Change in Benefit Plans, net of tax |  |  | 68 |  |  |  | 68 |  |  |  | (68 | ) |  |  | 68 |
Comprehensive Earnings |  | $ | 113,165 |  |  | $ | 157,580 |  |  | $ | (157,580 | ) |  | $ | 113,165 |
Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Six Months Ended September 30, 2018 |  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenue |  | $ | — |  |  | $ | 775,255 |  |  | $ | — |  |  | $ | 775,255 |
Cost of Goods Sold |  |  | — |  |  |  | 585,690 |  |  |  | — |  |  |  | 585,690 |
Gross Profit |  |  | — |  |  |  | 189,565 |  |  |  | — |  |  |  | 189,565 |
Equity in Earnings of Unconsolidated Joint Venture |  |  | 19,424 |  |  |  | 19,424 |  |  |  | (19,424 | ) |  |  | 19,424 |
Equity in Earnings of Subsidiaries |  |  | 142,288 |  |  |  | — |  |  |  | (142,288 | ) |  |  | — |
Corporate General and Administrative Expenses |  |  | (15,819 | ) |  |  | (2,106 | ) |  |  | — |  |  |  | (17,925 | )
Legal Settlements |  |  | — |  |  |  | (1,800 | ) |  |  | — |  |  |  | (1,800 | )
Other Non-Operating Income |  |  | (219 | ) |  |  | 1,218 |  |  |  | — |  |  |  | 999 |
Interest Expense, net |  |  | (13,424 | ) |  |  | (25 | ) |  |  | — |  |  |  | (13,449 | )
Earnings before Income Taxes |  |  | 132,250 |  |  |  | 206,276 |  |  |  | (161,712 | ) |  |  | 176,814 |
Income Taxes |  |  | 6,692 |  |  |  | (44,564 | ) |  |  | — |  |  |  | (37,872 | )
Net Earnings |  | $ | 138,942 |  |  | $ | 161,712 |  |  | $ | (161,712 | ) |  | $ | 138,942 |
Net Earnings |  | $ | 138,942 |  |  | $ | 161,712 |  |  | $ | (161,712 | ) |  |  | 138,942 |
Net Actuarial Change in Benefit Plans, net of tax |  |  | 112 |  |  |  | 112 |  |  |  | (112 | ) |  |  | 112 |
Comprehensive Earnings |  | $ | 139,054 |  |  | $ | 161,824 |  |  | $ | (161,824 | ) |  | $ | 139,054 |
Condensed Consolidating Balance Sheet |
Condensed Consolidating Balance Sheet At September 30, 2019 |  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents |  | $ | 51,629 |  |  | $ | 2,055 |  |  | $ | — |  |  | $ | 53,684 |
Accounts and Notes Receivable |  |  | 406 |  |  |  | 182,283 |  |  |  | — |  |  |  | 182,689 |
Inventories |  |  | — |  |  |  | 241,599 |  |  |  | — |  |  |  | 241,599 |
Prepaid and Other Current Assets |  |  | 1,230 |  |  |  | 7,853 |  |  |  | — |  |  |  | 9,083 |
Total Current Assets |  |  | 53,265 |  |  |  | 433,790 |  |  |  | — |  |  |  | 487,055 |
Property, Plant, and Equipment, net |  |  | 7,175 |  |  |  | 1,448,884 |  |  |  | — |  |  |  | 1,456,059 |
Notes Receivable |  |  | — |  |  |  | 6,436 |  |  |  | — |  |  |  | 6,436 |
Investment in Joint Venture |  |  | 70 |  |  |  | 71,592 |  |  |  | — |  |  |  | 71,662 |
Investments in Subsidiaries and Receivables from Affiliates |  |  | 2,104,394 |  |  |  | 147,051 |  |  |  | (2,251,445 | ) |  |  | — |
Operating Lease Right of Use Assets |  |  | 10,233 |  |  |  | 53,293 |  |  |  | — |  |  |  | 63,526 |
Goodwill and Intangible Assets, net |  |  | — |  |  |  | 230,770 |  |  |  | — |  |  |  | 230,770 |
Other Assets |  |  | 4,423 |  |  |  | 6,280 |  |  |  | — |  |  |  | 10,703 |
|  | $ | 2,179,560 |  |  | $ | 2,398,096 |  |  | $ | (2,251,445 | ) |  | $ | 2,326,211 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts Payable |  | $ | 6,707 |  |  | $ | 70,949 |  |  | $ | — |  |  | $ | 77,656 |
Accrued Liabilities |  |  | 24,194 |  |  |  | 42,179 |  |  |  | — |  |  |  | 66,373 |
Income Taxes Payable |  |  | 2,931 |  |  |  | — |  |  |  | — |  |  |  | 2,931 |
Operating Lease Liabilities |  |  | 1,145 |  |  |  | 10,170 |  |  |  | — |  |  |  | 11,315 |
Current Portion of Long-term Debt |  |  | 36,500 |  |  |  | — |  |  |  | — |  |  |  | 36,500 |
Total Current Liabilities |  |  | 71,477 |  |  |  | 123,298 |  |  |  | — |  |  |  | 194,775 |
Long-term Debt |  |  | 930,426 |  |  |  | — |  |  |  | — |  |  |  | 930,426 |
Noncurrent Lease Liabilities |  |  | 12,824 |  |  |  | 43,762 |  |  |  | — |  |  |  | 56,586 |
Other Long-term Liabilities |  |  | — |  |  |  | 35,371 |  |  |  | — |  |  |  | 35,371 |
Payables to Affiliates |  |  | 147,051 |  |  |  | 6,009,179 |  |  |  | (6,156,230 | ) |  |  | — |
Deferred Income Taxes |  |  | 7,027 |  |  |  | 91,271 |  |  |  | — |  |  |  | 98,298 |
Total Liabilities |  |  | 1,168,805 |  |  |  | 6,302,881 |  |  |  | (6,156,230 | ) |  |  | 1,315,456 |
Total Stockholders’ Equity |  |  | 1,010,755 |  |  |  | (3,904,785 | ) |  |  | 3,904,785 |  |  |  | 1,010,755 |
|  | $ | 2,179,560 |  |  | $ | 2,398,096 |  |  | $ | (2,251,445 | ) |  | $ | 2,326,211 |
Condensed Consolidating Balance Sheet At March 31, 2019 |  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents |  | $ | 5,779 |  |  | $ | 2,822 |  |  | $ | — |  |  | $ | 8,601 |
Accounts and Notes Receivable |  |  | 437 |  |  |  | 128,285 |  |  |  | — |  |  |  | 128,722 |
Inventories |  |  | — |  |  |  | 275,194 |  |  |  | — |  |  |  | 275,194 |
Income Tax Receivables |  |  | 5,480 |  |  |  | — |  |  |  | — |  |  |  | 5,480 |
Prepaid and Other Current Assets |  |  | 1,472 |  |  |  | 8,152 |  |  |  | — |  |  |  | 9,624 |
Total Current Assets |  |  | 13,168 |  |  |  | 414,453 |  |  |  | — |  |  |  | 427,621 |
Property, Plant, and Equipment, net |  |  | 7,756 |  |  |  | 1,419,183 |  |  |  | — |  |  |  | 1,426,939 |
Notes Receivable |  |  | — |  |  |  | 2,898 |  |  |  | — |  |  |  | 2,898 |
Investment in Joint Venture |  |  | 70 |  |  |  | 64,803 |  |  |  | — |  |  |  | 64,873 |
Investments in Subsidiaries and Receivables from Affiliates |  |  | 2,322,334 |  |  |  | 406,726 |  |  |  | (2,729,060 | ) |  |  | — |
Goodwill and Intangible Assets, net |  |  | — |  |  |  | 229,115 |  |  |  | — |  |  |  | 229,115 |
Other Assets |  |  | 4,571 |  |  |  | 13,146 |  |  |  | — |  |  |  | 17,717 |
|  | $ | 2,347,899 |  |  | $ | 2,550,324 |  |  | $ | (2,729,060 | ) |  | $ | 2,169,163 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts Payable |  | $ | 5,520 |  |  | $ | 75,364 |  |  | $ | — |  |  | $ | 80,884 |
Accrued Liabilities |  |  | 22,470 |  |  |  | 39,479 |  |  |  | — |  |  |  | 61,949 |
Current Portion of Long-term Debt |  |  | 36,500 |  |  |  | — |  |  |  | — |  |  |  | 36,500 |
Total Current Liabilities |  |  | 64,490 |  |  |  | 114,843 |  |  |  | — |  |  |  | 179,333 |
Long-term Debt |  |  | 655,092 |  |  |  | — |  |  |  | — |  |  |  | 655,092 |
Other Long-term Liabilities |  |  | 3,303 |  |  |  | 31,189 |  |  |  | — |  |  |  | 34,492 |
Payables to Affiliates |  |  | 406,726 |  |  |  | 5,730,093 |  |  |  | (6,136,819 | ) |  |  | — |
Deferred Income Taxes |  |  | 8,801 |  |  |  | 81,958 |  |  |  | — |  |  |  | 90,759 |
Total Liabilities |  |  | 1,138,412 |  |  |  | 5,958,083 |  |  |  | (6,136,819 | ) |  |  | 959,676 |
Total Stockholders’ Equity |  |  | 1,209,487 |  |  |  | (3,407,759 | ) |  |  | 3,407,759 |  |  |  | 1,209,487 |
|  | $ | 2,347,899 |  |  | $ | 2,550,324 |  |  | $ | (2,729,060 | ) |  | $ | 2,169,163 |
Condensed Consolidating Statement of Cash Flows |
Condensed Consolidating Statement of Cash Flows For the Six Months Ended September 30, 2019 |  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Cash Provided by (Used in) Operating Activities |  | $ | (21,193 | ) |  | $ | 205,889 |  |  | $ | — |  |  | $ | 184,696 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Additions to Property, Plant, and Equipment |  |  | — |  |  |  | (60,007 | ) |  |  | — |  |  |  | (60,007 | )
Acquisition Spending |  |  | — |  |  |  | (30,872 | ) |  |  | — |  |  |  | (30,872 | )
Net Cash Used in Investing Activities |  |  | — |  |  |  | (90,879 | ) |  |  | — |  |  |  | (90,879 | )
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Increase in Credit Facility |  |  | 275,000 |  |  |  | — |  |  |  | — |  |  |  | 275,000 |
Dividends Paid to Stockholders |  |  | (8,815 | ) |  |  | — |  |  |  | — |  |  |  | (8,815 | )
Purchase and Retirement of Common Stock |  |  | (313,887 | ) |  |  | — |  |  |  | — |  |  |  | (313,887 | )
Proceeds from Stock Option Exercises |  |  | 1,767 |  |  |  | — |  |  |  | — |  |  |  | 1,767 |
Shares Redeemed to Settle Employee Taxes on Stock Compensation |  |  | (2,799 | ) |  |  | — |  |  |  | — |  |  |  | (2,799 | )
Intra-entity Activity, net |  |  | 115,777 |  |  |  | (115,777 | ) |  |  | — |  |  |  | — |
Net Cash Provided by (Used in) Financing Activities |  |  | 67,043 |  |  |  | (115,777 | ) |  |  | — |  |  |  | (48,734 | )
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH |  |  | 45,850 |  |  |  | (767 | ) |  |  | — |  |  |  | 45,083 |
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD |  |  | 5,779 |  |  |  | 2,822 |  |  |  | — |  |  |  | 8,601 |
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD |  | $ | 51,629 |  |  | $ | 2,055 |  |  | $ | — |  |  | $ | 53,684 |
Condensed Consolidating Statement of Cash Flows For the Six Months Ended September 30, 2018 |  | Parent |  |  | Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Cash Provided by (Used in) Operating Activities |  | $ | (69,161 | ) |  | $ | 244,037 |  |  | $ | — |  |  | $ | 174,876 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Property, Plant, and Equipment Additions |  |  | (1,133 | ) |  |  | (92,311 | ) |  |  | — |  |  |  | (93,444 | )
Proceeds from Sale of Property, Plant, and Equipment |  |  | — |  |  |  | 2,281 |  |  |  |  |  |  |  | 2,281 |
Net Cash Used in Investing Activities |  |  | (1,133 | ) |  |  | (90,030 | ) |  |  | — |  |  |  | (91,163 | )
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Repayment of Credit Facility |  |  | 10,000 |  |  |  | — |  |  |  | — |  |  |  | 10,000 |
Dividends Paid to Stockholders |  |  | (9,582 | ) |  |  | — |  |  |  | — |  |  |  | (9,582 | )
Purchase and Retirement of Common Stock |  |  | (122,404 | ) |  |  | — |  |  |  | — |  |  |  | (122,404 | )
Proceeds from Stock Option Exercises |  |  | 1,992 |  |  |  | — |  |  |  | — |  |  |  | 1,992 |
Shares Redeemed to Settle Employee Taxes on Stock Compensation |  |  | (1,785 | ) |  |  | — |  |  |  | — |  |  |  | (1,785 | )
Intra-entity Activity, net |  |  | 155,120 |  |  |  | (155,120 | ) |  |  | — |  |  |  | — |
Net Cash Provided by (Used in) Financing Activities |  |  | 33,341 |  |  |  | (155,120 | ) |  |  | — |  |  |  | (121,779 | )
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH |  |  | (36,953 | ) |  |  | (1,113 | ) |  |  | — |  |  |  | (38,066 | )
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD |  |  | 44,537 |  |  |  | 3,531 |  |  |  | — |  |  |  | 48,068 |
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD |  | $ | 7,584 |  |  | $ | 2,418 |  |  | $ | — |  |  | $ | 10,002 |

X
- Definition Tabular disclosure of condensed income statement and statement of comprehensive income, including but not limited to, income statements of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | exp_CondensedStatementOfIncomeAndComprehensiveIncomeTableTextBlock
Namespace Prefix: | exp_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration