FINANCIAL STATEMENTS FOR GUARANTORS OF THE 4.500% SENIOR UNSECURED NOTES (Tables)

12 Months Ended

Mar. 31, 2020

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 Year Ended March 31, 2020	Parent			Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	1,450,814		$	—		$	1,450,814
Cost of Goods Sold		—			1,119,552			—			1,119,552
Gross Profit		—			331,262			—			331,262
Equity in Earnings of Unconsolidated Joint Venture		42,585			42,585			(42,585	)		42,585
Equity in Earnings of Subsidiaries		100,225			—			(100,225	)		—
Corporate General and Administrative Expenses		(56,695	)		(8,715	)		—			(65,410	)
Impairment Losses		—			(224,267	)		—			(224,267	)
Other Non-Operating Income (Loss)		(697	)		672			—			(25	)
Interest Expense, net		(38,372	)		(49	)		—			(38,421	)
Earnings before Income Taxes		47,046			141,488			(142,810	)		45,724
Income Taxes		23,848			1,322			—			25,170
Net Earnings	$	70,894		$	142,810		$	(142,810	)	$	70,894
Net Earnings	$	70,894		$	142,810		$	(142,810	)	$	70,894
Net Actuarial Change in Benefit Plans, net of tax		(265	)		(265	)		265			(265	)
Comprehensive Earnings	$	70,629		$	142,545		$	(142,545	)	$	70,629

Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Year Ended March 31, 2019	Parent			Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	1,393,241		$	—		$	1,393,241
Cost of Goods Sold		—			1,066,673			—			1,066,673
Gross Profit		—			326,568			—			326,568
Equity in Earnings of Unconsolidated Joint Venture		38,565			38,565			(38,565	)		38,565
Equity in Earnings of Subsidiaries		77,954			—			(77,954	)		—
Corporate General and Administrative Expenses		(31,744	)		(5,627	)		—			(37,371	)
Impairment Losses		—			(220,265	)		—			(220,265	)
Legal Settlements		—			(1,800	)		—			(1,800	)
Other Non-Operating Income		(390	)		2,802			—			2,412
Interest Expense, net		(28,325	)		(49	)		—			(28,374	)
Earnings before Income Taxes		56,060			140,194			(116,519	)		79,735
Income Taxes		12,800			(23,675	)		—			(10,875	)
Net Earnings	$	68,860		$	116,519		$	(116,519	)	$	68,860
Net Earnings	$	68,860		$	116,519		$	(116,519	)	$	68,860
Net Actuarial Change in Benefit Plans, net of tax		696			696			(696	)		696
Comprehensive Earnings	$	69,556		$	117,215		$	(117,215	)	$	69,556

Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Year Ended March 31, 2018	Parent			Guarantor Subsidiaries			Eliminations			Consolidated
Revenue		—		$	1,386,520		$	—		$	1,386,520
Cost of Goods Sold		—			1,047,764			—			1,047,764
Gross Profit		—			338,756			—			338,756
Equity in Earnings of Unconsolidated Joint Venture		43,419			43,419			(43,419	)		43,419
Equity in Earnings of Subsidiaries		289,950			—			(289,950	)		—
Corporate General and Administrative Expenses		(37,825	)		(3,380	)		—			(41,205	)
Legal Settlements		(45,098	)		—			—			(45,098	)
Other Non-Operating Income		(233	)		3,961			—			3,728
Interest Expense, net		(27,609	)		(29	)		—			(27,638	)
Earnings before Income Taxes		222,604			382,727			(333,369	)		271,962
Income Taxes		34,028			(49,358	)		—			(15,330	)
Net Earnings	$	256,632		$	333,369		$	(333,369	)	$	256,632
Net Earnings	$	256,632		$	333,369		$	(333,369	)		256,632
Net Actuarial Change in Benefit Plans, net of tax		3,384			3,384			(3,384	)		3,384
Comprehensive Earnings	$	260,016		$	336,753		$	(336,753	)	$	260,016

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet At March 31, 2020	Parent		Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current Assets -
Cash and Cash Equivalents	$	116,269	$	2,379		$	—			118,648
Accounts and Notes Receivable		531		151,255			—			151,786
Inventories		—		272,508			—			272,508
Income Tax Receivable		128,413		—			—			128,413
Prepaid and Other Current Assets		953		5,909			—			6,862
Total Current Assets		246,166		432,051			—			678,217
Property, Plant and Equipment, net		6,606		1,755,503			—			1,762,109
Notes Receivable		—		9,139			—			9,139
Investment in Joint Venture		70		73,888			—			73,958
Operating Lease Right-of-Use Assets		9,765		20,765			—			30,530
Investments in Subsidiaries and Receivables from Affiliates		2,489,326		179,398			(2,668,724	)		—
Deferred Tax Assets		11,409		—			(11,409	)		—
Goodwill and Intangible Assets, net		—		396,463			—			396,463
Other Assets		4,417		6,187			—			10,604
	$	2,767,759	$	2,873,394		$	(2,680,133	)	$	2,961,020
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities-
Accounts Payable	$	6,365	$	79,832		$	—		$	86,197
Accrued Liabilities		33,409		39,884			—			73,293
Operating Lease Liabilities		1,180		9,027			—			10,207
Total Current Liabilities		40,954		128,743			—			169,697
Long-term Debt		1,567,315		—			—			1,567,315
Noncurrent Operating Lease Liabilities		12,249		37,560			—			49,809
Other Long-term Liabilities		—		39,689			—			39,689
Payables to Affiliates		179,398		6,324,504			(6,503,902	)		—
Deferred Income Taxes		—		178,076			(11,409	)		166,667
Total Liabilities		1,799,916		6,708,572			(6,515,311	)		1,993,177
Total Stockholders’ Equity		967,843		(3,835,178	)		3,835,178			967,843
	$	2,767,759	$	2,873,394		$	(2,680,133	)	$	2,961,020

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 Receivable		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		2,322,335		406,726			(2,729,061	)		—
Goodwill and Intangible Assets, net		—		229,115			—			229,115
Other Assets		4,571		13,146			—			17,717
	$	2,347,900	$	2,550,324		$	(2,729,061	)	$	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		406,727		5,730,093			(6,136,820	)		—
Deferred Income Taxes		8,801		81,958			—			90,759
Total Liabilities		1,138,413		5,958,083			(6,136,820	)		959,676
Total Stockholders’ Equity		1,209,487		(3,407,759	)		3,407,759			1,209,487
	$	2,347,900	$	2,550,324		$	(2,729,061	)	$	2,169,163

Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows For the Year Ended March 31, 2020	Parent			Guarantor Subsidiaries			Eliminations			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	$	(181,476	)	$	580,777		$	—		$	399,301
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment		—			(132,119	)		—			(132,119	)
Investment in Subsidiaries		(699,361	)		—			699,361			—
Acquisition Spending		—			(699,361	)		—			(699,361	)
Proceeds from Sales of Property, Plant, and Equipment		400			—			—			400
Net Cash Used in Investing Activities		(698,961	)		(831,480	)		699,361.00			(831,080	)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase in Revolving Credit Facility		250,000			—			—			250,000
Repayment of Private Placement Senior Unsecured Notes		(36,500	)		—			—			(36,500	)
Issuance of Term Loan		665,000			—			—			665,000
Dividends Paid to Stockholders		(17,142	)		—			—			(17,142	)
Purchase and Retirement of Common Stock		(313,887	)		—			—			(313,887	)
Proceeds from Stock Option Exercises		3,298			—			—			3,298
Shares Redeemed to Settle Employee Taxes on Stock Compensation		(4,063	)		—			—			(4,063	)
Payment of Debt Issuance Costs		(4,880	)		—			—			(4,880	)
Intra-entity Activity, net		449,101			250,260			(699,361	)		—
Net Cash Provided by (Used in) Financing Activities		990,927			250,260			(699,361	)		541,826
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH		110,490			(443	)		—			110,047
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	$	116,269		$	2,379		$	—		$	118,648

Condensed Consolidating Statement of Cash Flows For the Year Ended March 31, 2019	Parent			Guarantor Subsidiaries			Eliminations		Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	$	33,997		$	316,287		$	—	$	350,284
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment		(6,107	)		(162,766	)		—		(168,873	)
Proceeds from Sales of Property, Plant, and Equipment		—			2,281			—		2,281
Net Cash Used in Investing Activities		(6,107	)		(160,485	)		—		(166,592	)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase in Revolving Credit Facility		70,000			—			—		70,000
Dividends Paid to Stockholders		(18,927	)		—			—		(18,927	)
Purchase and Retirement of Common Stock		(271,988	)		—			—		(271,988	)
Proceeds from Stock Option Exercises		2,103			—			—		2,103
Shares Redeemed to Settle Employee Taxes on Stock Compensation		(4,347	)		—			—		(4,347	)
Intra-entity Activity, net		156,511			(156,511	)		—		—
Net Cash Provided by (Used in) Financing Activities		(66,648	)		(156,511	)		—		(223,159	)
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH		(38,758	)		(709	)		—		(39,467	)
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	$	5,779		$	2,822		$	—	$	8,601

Condensed Consolidating Statement of Cash Flows For the Year Ended March 31, 2018	Parent			Guarantor Subsidiaries			Eliminations			Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	$	(83,947	)	$	421,612		$	—		$	337,665
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment		(142	)		(131,815	)		—			(131,957	)
Investment in Subsidiaries		(36,761	)		—			36,761			—
Acquisition Spending		—			(36,761	)		—			(36,761	)
Net Cash Used in Investing Activities		(36,903	)		(168,576	)		36,761			(168,718	)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase in Revolving Credit Facility		15,000			—			—			15,000
Repayment of Private Placement Senior Unsecured Notes		(81,214	)		—			—			(81,214	)
Dividends Paid to Stockholders		(19,438	)		—			—			(19,438	)
Purchase and Retirement of Common Stock		(61,078	)		—			—			(61,078	)
Proceeds from Stock Option Exercises		24,264			—			—			24,264
Shares Redeemed to Settle Employee Taxes on Stock Compensation		(4,974	)		—			—			(4,974	)
Intra-entity Activity, net		287,643			(250,882	)		(36,761	)		—
Net Cash Provided by (Used in) Financing Activities		160,203			(250,882	)		(36,761	)		(127,440	)
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH		39,353			2,154			—			41,507
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD		5,184			1,377			—			6,561
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$	44,537		$	3,531		$	—		$	48,068