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v3.20.2

SEGMENT INFORMATION (Tables) | 3 Months Ended
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Jun. 30, 2020
Segment Reporting [Abstract] |
Financial Information Related to Operations by Segment | The following table sets forth certain financial information relating to our operations by segment. We do not allocate interest or taxes at the segment level; these costs are disclosed at the consolidated company level.
|  | For the Three Months Ended June 30, |
|  | 2020 |  |  | 2019 |
|  | (dollars in thousands) |
Revenue - |  |  |  |  |  |  |  |
Cement |  | $ | 261,411 |  |  | $ | 195,313 |
Concrete and Aggregates |  |  | 44,190 |  |  |  | 39,778 |
Gypsum Wallboard |  |  | 130,150 |  |  |  | 126,724 |
Paperboard |  |  | 36,744 |  |  |  | 42,700 |
Oil and Gas Proppants |  |  | 1,031 |  |  |  | 15,232 |
|  |  | 473,526 |  |  |  | 419,747 |
Less: Intersegment Revenue |  |  | (20,206 | ) |  |  | (21,645 | )
Less: Joint Venture Revenue |  |  | (25,300 | ) |  |  | (27,505 | )
|  | $ | 428,020 |  |  | $ | 370,597 |
|  | For the Three Months Ended June 30, |
|  | 2020 |  |  | 2019 |
|  | (dollars in thousands) |
Intersegment Revenue - |  |  |  |  |  |  |  |
Cement |  | $ | 6,031 |  |  | $ | 4,253 |
Concrete and Aggregates |  |  | 106 |  |  |  | 377 |
Paperboard |  |  | 14,069 |  |  |  | 17,015 |
|  | $ | 20,206 |  |  | $ | 21,645 |
Cement Sales Volume (M tons) - |  |  |  |  |  |  |  |
Wholly Owned |  |  | 1,866 |  |  |  | 1,318 |
Joint Venture |  |  | 219 |  |  |  | 232 |
|  |  | 2,085 |  |  |  | 1,550 |
|  | For the Three Months Ended June 30, |
|  | 2020 |  |  | 2019 |
|  | (dollars in thousands) |
Operating Earnings - |  |  |  |  |  |  |  |
Cement |  | $ | 60,455 |  |  | $ | 36,121 |
Concrete and Aggregates |  |  | 5,418 |  |  |  | 4,434 |
Gypsum Wallboard |  |  | 41,325 |  |  |  | 37,932 |
Paperboard |  |  | 2,895 |  |  |  | 9,944 |
Oil and Gas Proppants |  |  | (1,318 | ) |  |  | (3,670 | )
Sub-Total |  |  | 108,775 |  |  |  | 84,761 |
Corporate General and Administrative Expense |  |  | (17,789 | ) |  |  | (21,254 | )
Gain on Sale of Businesses |  |  | 51,973 |  |  |  | — |
Other Non-Operating Income (Loss) |  |  | (127 | ) |  |  | 200 |
Earnings Before Interest and Income Taxes |  |  | 142,832 |  |  |  | 63,707 |
Interest Expense, net |  |  | (14,041 | ) |  |  | (8,846 | )
Earnings Before Income Taxes |  | $ | 128,791 |  |  | $ | 54,861 |
Cement Operating Earnings - |  |  |  |  |  |  |  |
Wholly Owned |  | $ | 52,659 |  |  | $ | 26,689 |
Joint Ventures |  |  | 7,796 |  |  |  | 9,432 |
|  | $ | 60,455 |  |  | $ | 36,121 |
Capital Expenditures - |  |  |  |  |  |  |  |
Cement |  | $ | 10,348 |  |  | $ | 10,537 |
Concrete and Aggregates |  |  | 1,261 |  |  |  | 595 |
Gypsum Wallboard |  |  | 6,512 |  |  |  | 1,931 |
Paperboard |  |  | 7,870 |  |  |  | 12,360 |
Oil and Gas Proppants |  |  | — |  |  |  | 65 |
Other, net |  |  | — |  |  |  | — |
|  | $ | 25,991 |  |  | $ | 25,488 |
Depreciation, Depletion, and Amortization - |  |  |  |  |  |  |  |
Cement |  | $ | 19,243 |  |  | $ | 14,218 |
Concrete and Aggregates |  |  | 2,721 |  |  |  | 2,191 |
Gypsum Wallboard |  |  | 5,200 |  |  |  | 4,952 |
Paperboard |  |  | 3,352 |  |  |  | 2,163 |
Oil and Gas Proppants |  |  | 121 |  |  |  | 3,839 |
Corporate and Other |  |  | 1,300 |  |  |  | 597 |
|  | $ | 31,937 |  |  | $ | 27,960 |
|  | June 30, |  |  | March 31, |
|  | 2020 |  |  | 2020 |
|  | (dollars in thousands) |
Identifiable Assets |  |  |  |  |  |  |  |
Cement |  | $ | 1,999,175 |  |  | $ | 1,980,306 |
Concrete and Aggregates |  |  | 99,298 |  |  |  | 136,041 |
Gypsum Wallboard |  |  | 372,628 |  |  |  | 375,946 |
Paperboard |  |  | 187,511 |  |  |  | 183,288 |
Oil and Gas Proppants |  |  | 8,047 |  |  |  | 14,294 |
Other, net |  |  | 348,505 |  |  |  | 271,145 |
|  | $ | 3,015,164 |  |  | $ | 2,961,020 |
Segment Breakdown of Goodwill | The segment breakdown of Goodwill is as follows:
|  | June 30, |  |  | March 31, |
|  | 2020 |  |  | 2020 |
|  | (dollars in thousands) |
Cement |  | $ | 203,342 |  |  | $ | 205,797 |
Concrete and Aggregates |  |  | 1,639 |  |  |  | 1,639 |
Gypsum Wallboard |  |  | 116,618 |  |  |  | 116,618 |
Paperboard |  |  | 7,538 |  |  |  | 7,538 |
|  | $ | 329,137 |  |  | $ | 331,592 |
Summarized Financial Information for Joint Venture Unconsolidated | Summarized financial information for the Joint Venture that is not consolidated is set out below (this summarized financial information includes the total amount for the Joint Venture and not our 50% interest in those amounts):
|  | For the Three Months Ended June 30, |
|  | 2020 |  |  | 2019 |
|  | (dollars in thousands) |
Revenue |  | $ | 50,600 |  |  | $ | 55,010 |
Gross Margin |  | $ | 16,765 |  |  | $ | 19,866 |
Earnings Before Income Taxes |  | $ | 15,727 |  |  | $ | 19,017 |
|  | June 30, |  |  | March 31, |
|  | 2020 |  |  | 2020 |
|  | (dollars in thousands) |
Current Assets |  | $ | 70,153 |  |  | $ | 77,331 |
Non-Current Assets |  | $ | 99,488 |  |  | $ | 93,093 |
Current Liabilities |  | $ | 18,302 |  |  | $ | 17,197 |

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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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