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v3.20.1

BUSINESS SEGMENTS (Tables) | 12 Months Ended
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Mar. 31, 2020
Segment Reporting [Abstract] |
Financial Information Related to Operations by Segment | The following tables below sets forth certain financial information relating to our operations by segment.
|  | For the Years Ended March 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (dollars in thousands) |
Revenue - |  |  |  |  |  |  |  |  |  |  |  |
Cement |  | $ | 752,002 |  |  | $ | 656,759 |  |  | $ | 651,750 |
Concrete and Aggregates |  |  | 182,775 |  |  |  | 140,173 |  |  |  | 157,013 |
Gypsum Wallboard |  |  | 508,145 |  |  |  | 532,712 |  |  |  | 491,779 |
Paperboard |  |  | 159,963 |  |  |  | 167,656 |  |  |  | 181,742 |
Oil and Gas Proppants |  |  | 46,781 |  |  |  | 82,987 |  |  |  | 98,244 |
|  |  | 1,649,666 |  |  |  | 1,580,287 |  |  |  | 1,580,528 |
Less: Intersegment Revenue |  |  | (85,316 | ) |  |  | (82,553 | ) |  |  | (88,124 | )
Less: Joint Venture Revenue |  |  | (113,536 | ) |  |  | (104,493 | ) |  |  | (105,884 | )
|  | $ | 1,450,814 |  |  | $ | 1,393,241 |  |  | $ | 1,386,520 |
|  | For the Years Ended March 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (dollars in thousands) |
Intersegment Revenue - |  |  |  |  |  |  |  |  |  |  |  |
Cement |  | $ | 21,499 |  |  | $ | 14,408 |  |  | $ | 16,442 |
Concrete and Aggregates |  |  | 1,502 |  |  |  | 1,422 |  |  |  | 1,335 |
Paperboard |  |  | 62,315 |  |  |  | 66,723 |  |  |  | 70,347 |
|  | $ | 85,316 |  |  | $ | 82,553 |  |  | $ | 88,124 |
Cement Sales Volume (M tons) - |  |  |  |  |  |  |  |  |  |  |  |
Wholly Owned |  |  | 4,975 |  |  |  | 4,441 |  |  |  | 4,453 |
Joint Venture |  |  | 956 |  |  |  | 899 |  |  |  | 912 |
|  |  | 5,931 |  |  |  | 5,340 |  |  |  | 5,365 |
|  | For the Years Ended March 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  |  |  |  | (dollars in thousands) |  |  |
Operating Earnings - |  |  |  |  |  |  |  |  |  |  |  |
Cement |  | $ | 181,330 |  |  | $ | 164,782 |  |  | $ | 179,151 |
Concrete and Aggregates |  |  | 17,558 |  |  |  | 12,866 |  |  |  | 17,854 |
Gypsum Wallboard |  |  | 154,614 |  |  |  | 180,831 |  |  |  | 158,551 |
Paperboard |  |  | 34,979 |  |  |  | 35,349 |  |  |  | 32,758 |
Oil and Gas Proppants |  |  | (14,634 | ) |  |  | (28,695 | ) |  |  | (6,139 | )
Sub-Total |  |  | 373,847 |  |  |  | 365,133 |  |  |  | 382,175 |
Corporate General and Administrative Expense |  |  | (65,410 | ) |  |  | (37,371 | ) |  |  | (41,205 | )
Impairment Losses |  |  | (224,267 | ) |  |  | (220,265 | ) |  |  | — |
Litigation Settlements and Losses |  |  | — |  |  |  | (1,800 | ) |  |  | (45,098 | )
Other Non-Operating Income |  |  | (25 | ) |  |  | 2,412 |  |  |  | 3,728 |
Earnings Before Interest and Income Taxes |  |  | 84,145 |  |  |  | 108,109 |  |  |  | 299,600 |
Interest Expense, net |  |  | (38,421 | ) |  |  | (28,374 | ) |  |  | (27,638 | )
Earnings Before Income Taxes |  | $ | 45,724 |  |  | $ | 79,735 |  |  | $ | 271,962 |
Cement Operating Earnings - |  |  |  |  |  |  |  |  |  |  |  |
Wholly Owned |  | $ | 138,745 |  |  | $ | 126,217 |  |  | $ | 135,732 |
Joint Ventures |  |  | 42,585 |  |  |  | 38,565 |  |  |  | 43,419 |
|  | $ | 181,330 |  |  | $ | 164,782 |  |  | $ | 179,151 |
Capital Expenditures - |  |  |  |  |  |  |  |  |  |  |  |
Cement |  | $ | 44,776 |  |  | $ | 76,504 |  |  | $ | 45,088 |
Concrete and Aggregates |  |  | 11,898 |  |  |  | 6,649 |  |  |  | 4,977 |
Gypsum Wallboard |  |  | 12,771 |  |  |  | 10,724 |  |  |  | 19,382 |
Paperboard |  |  | 62,528 |  |  |  | 16,603 |  |  |  | 5,177 |
Oil and Gas Proppants |  |  | 146 |  |  |  | 52,286 |  |  |  | 56,872 |
Other, net |  |  | — |  |  |  | 6,107 |  |  |  | 461 |
|  | $ | 132,119 |  |  | $ | 168,873 |  |  | $ | 131,957 |
Depreciation, Depletion, and Amortization - |  |  |  |  |  |  |  |  |  |  |  |
Cement |  | $ | 59,081 |  |  | $ | 52,802 |  |  | $ | 50,891 |
Concrete and Aggregates |  |  | 11,142 |  |  |  | 8,176 |  |  |  | 7,931 |
Gypsum Wallboard |  |  | 20,320 |  |  |  | 20,020 |  |  |  | 18,179 |
Paperboard |  |  | 8,945 |  |  |  | 8,541 |  |  |  | 8,694 |
Oil and Gas Proppants |  |  | 11,310 |  |  |  | 31,328 |  |  |  | 26,872 |
Corporate and Other |  |  | 2,720 |  |  |  | 1,668 |  |  |  | 1,448 |
|  | $ | 113,518 |  |  | $ | 122,535 |  |  | $ | 114,015 |
|  | As of March 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
|  | (dollars in thousands) |
Identifiable Assets |  |  |  |  |  |  |  |  |  |  |  |
Cement |  | $ | 1,980,306 |  |  | $ | 1,289,468 |  |  | $ | 1,247,504 |
Concrete and Aggregates |  |  | 136,041 |  |  |  | 95,084 |  |  |  | 104,851 |
Gypsum Wallboard |  |  | 375,946 |  |  |  | 372,206 |  |  |  | 386,041 |
Paperboard |  |  | 183,288 |  |  |  | 138,614 |  |  |  | 123,819 |
Oil and Gas Proppants |  |  | 14,294 |  |  |  | 236,357 |  |  |  | 444,826 |
Other, net |  |  | 271,145 |  |  |  | 37,434 |  |  |  | 60,962 |
|  | $ | 2,961,020 |  |  | $ | 2,169,163 |  |  | $ | 2,368,003 |
Segment Breakdown of Goodwill | The segment breakdown of Goodwill at March 31, 2020 and 2019 is as follows:
|  | For the Years Ended March 31, |
|  | 2020 |  |  | 2019 |
|  | (dollars in thousands) |
Cement |  | $ | 205,797 |  |  | $ | 74,214 |
Concrete and Aggregates |  |  | 1,639 |  |  |  | — |
Gypsum Wallboard |  |  | 116,618 |  |  |  | 116,618 |
Paperboard |  |  | 7,538 |  |  |  | 7,538 |
|  | $ | 331,592 |  |  | $ | 198,370 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8721-108599 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e8906-108599 + Details
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