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FINANCIAL STATEMENTS FOR GUARANTORS OF THE 4.500% SENIOR UNSECURED NOTES (Tables) | 3 Months Ended
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Jun. 30, 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 Three Months Ended June 30, 2020 |  | Parent |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenue |  | $ | — |  |  | $ | 426,989 |  |  | $ | 1,031 |  |  | $ | — |  |  | $ | 428,020 |
Cost of Goods Sold |  |  | — |  |  |  | 324,692 |  |  |  | 2,349 |  |  |  | — |  |  |  | 327,041 |
Gross Profit |  |  | — |  |  |  | 102,297 |  |  |  | (1,318 | ) |  |  | — |  |  |  | 100,979 |
Equity in Earnings of Unconsolidated Joint Venture |  |  | 7,796 |  |  |  | 7,796 |  |  |  | — |  |  |  | (7,796 | ) |  |  | 7,796 |
Equity in Earnings of Subsidiaries |  |  | 63,684 |  |  |  | — |  |  |  | — |  |  |  | (63,684 | ) |  |  | — |
Corporate General and Administrative Expenses |  |  | (14,411 | ) |  |  | (3,260 | ) |  |  | (118 | ) |  |  | — |  |  |  | (17,789 | )
Gain on Sale of Businesses |  |  | 51,973 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 51,973 |
Other Non-Operating Income (Loss) |  |  | (375 | ) |  |  | 67 |  |  |  | 181 |  |  |  | — |  |  |  | (127 | )
Interest Expense, net |  |  | (14,028 | ) |  |  | (13 | ) |  |  | — |  |  |  | — |  |  |  | (14,041 | )
Earnings before Income Taxes |  |  | 94,639 |  |  |  | 106,887 |  |  |  | (1,255 | ) |  |  | (71,480 | ) |  |  | 128,791 |
Income Taxes |  |  | 1,567 |  |  |  | (34,502 | ) |  |  | 350 |  |  |  | — |  |  |  | (32,585 | )
Net Earnings |  | $ | 96,206 |  |  | $ | 72,385 |  |  | $ | (905 | ) |  | $ | (71,480 | ) |  | $ | 96,206 |
Net Earnings |  | $ | 96,206 |  |  | $ | 72,385 |  |  | $ | (905 | ) |  | $ | (71,480 | ) |  | $ | 96,206 |
Net Actuarial Change in Benefit Plans, net of tax |  |  | 25 |  |  |  | 25 |  |  |  | — |  |  |  | (25 | ) |  |  | 25 |
Comprehensive Earnings |  | $ | 96,231 |  |  | $ | 72,410 |  |  | $ | (905 | ) |  | $ | (71,505 | ) |  | $ | 96,231 |
Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Three Months Ended June 30, 2019 |  | Parent |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
Revenue |  | $ | — |  |  | $ | 370,597 |  |  | $ | — |  |  | $ | — |  |  | $ | 370,597 |
Cost of Goods Sold |  |  | — |  |  |  | 295,268 |  |  |  | — |  |  |  | — |  |  |  | 295,268 |
Gross Profit |  |  | — |  |  |  | 75,329 |  |  |  | — |  |  |  | — |  |  |  | 75,329 |
Equity in Earnings of Unconsolidated Joint Venture |  |  | 9,432 |  |  |  | 9,432 |  |  |  | — |  |  |  | (9,432 | ) |  |  | 9,432 |
Equity in Earnings of Subsidiaries |  |  | 55,742 |  |  |  | — |  |  |  | — |  |  |  | (55,742 | ) |  |  | — |
Corporate General and Administrative Expenses |  |  | (20,968 | ) |  |  | (286 | ) |  |  | — |  |  |  | — |  |  |  | (21,254 | )
Other Non-Operating Income |  |  | 426 |  |  |  | (226 | ) |  |  | — |  |  |  | — |  |  |  | 200 |
Interest Expense, net |  |  | (8,834 | ) |  |  | (12 | ) |  |  | — |  |  |  | — |  |  |  | (8,846 | )
Earnings before Income Taxes |  |  | 35,798 |  |  |  | 84,237 |  |  |  | — |  |  |  | (65,174 | ) |  |  | 54,861 |
Income Taxes |  |  | 5,506 |  |  |  | (19,063 | ) |  |  | — |  |  |  | — |  |  |  | (13,557 | )
Net Earnings |  | $ | 41,304 |  |  | $ | 65,174 |  |  | $ | — |  |  | $ | (65,174 | ) |  | $ | 41,304 |
Net Earnings |  | $ | 41,304 |  |  | $ | 65,174 |  |  | $ | — |  |  | $ | (65,174 | ) |  | $ | 41,304 |
Net Actuarial Change in Benefit Plans, net of tax |  |  | 33 |  |  |  | 33 |  |  |  | — |  |  |  | (33 | ) |  |  | 33 |
Comprehensive Earnings |  | $ | 41,337 |  |  | $ | 65,207 |  |  | $ | — |  |  | $ | (65,207 | ) |  | $ | 41,337 |
Condensed Consolidating Balance Sheet |
Condensed Consolidating Balance Sheet at June 30, 2020 |  | Parent |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Assets - |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and Cash Equivalents |  | $ | 196,831 |  |  | $ | 2,600 |  |  | $ | 10 |  |  | $ | — |  |  | $ | 199,441 |
Accounts and Notes Receivable |  |  | 1,463 |  |  |  | 192,271 |  |  |  | 830 |  |  |  | — |  |  |  | 194,564 |
Inventories |  |  | — |  |  |  | 242,658 |  |  |  | 467 |  |  |  | — |  |  |  | 243,125 |
Income Tax Receivable |  |  | 123,709 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 123,709 |
Prepaid and Other Current Assets |  |  | 1,199 |  |  |  | 9,415 |  |  |  | 140 |  |  |  | — |  |  |  | 10,754 |
Total Current Assets |  |  | 323,202 |  |  |  | 446,944 |  |  |  | 1,447 |  |  |  | — |  |  |  | 771,593 |
Property, Plant, and Equipment, net |  |  | 6,329 |  |  |  | 1,714,389 |  |  |  | 5,645 |  |  |  | — |  |  |  | 1,726,363 |
Notes Receivable |  |  | — |  |  |  | 9,068 |  |  |  | — |  |  |  | — |  |  |  | 9,068 |
Investment in Joint Venture |  |  | 70 |  |  |  | 72,184 |  |  |  | — |  |  |  | — |  |  |  | 72,254 |
Investments in Subsidiaries and Receivables from Affiliates |  |  | 2,543,210 |  |  |  | 215,702 |  |  |  | 468 |  |  |  | (2,759,380 | ) |  |  | — |
Deferred Income Taxes |  |  | 9,246 |  |  |  | — |  |  |  | 43,742 |  |  |  | (52,988 | ) |  |  | — |
Operating Lease Right of Use Assets |  |  | 9,576 |  |  |  | 19,373 |  |  |  | 955 |  |  |  | — |  |  |  | 29,904 |
Goodwill and Intangible Assets, net |  |  | — |  |  |  | 395,673 |  |  |  | — |  |  |  | — |  |  |  | 395,673 |
Other Assets |  |  | 5,029 |  |  |  | 5,280 |  |  |  | — |  |  |  | — |  |  |  | 10,309 |
|  | $ | 2,896,662 |  |  | $ | 2,878,613 |  |  | $ | 52,257 |  |  | $ | (2,812,368 | ) |  | $ | 3,015,164 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current Liabilities- |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts Payable |  | $ | 3,052 |  |  | $ | 77,371 |  |  |  | 1,562 |  |  | $ | — |  |  | $ | 81,985 |
Accrued Liabilities |  |  | 38,027 |  |  |  | 34,963 |  |  |  | 2,492 |  |  |  | — |  |  |  | 75,482 |
Income Taxes Payable |  |  | 32,130 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 32,130 |
Operating Lease Liabilities |  |  | 1,197 |  |  |  | 5,702 |  |  |  | 3,537 |  |  |  | — |  |  |  | 10,436 |
Total Current Liabilities |  |  | 74,406 |  |  |  | 118,036 |  |  |  | 7,591 |  |  |  | — |  |  |  | 200,033 |
Long-term Debt |  |  | 1,492,088 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,492,088 |
Noncurrent Lease Liabilities |  |  | 11,952 |  |  |  | 26,783 |  |  |  | 8,743 |  |  |  | — |  |  |  | 47,478 |
Other Long-term Liabilities |  |  | 3,500 |  |  |  | 35,362 |  |  |  | 5,805 |  |  |  | — |  |  |  | 44,667 |
Payables to Affiliates |  |  | 246,758 |  |  |  | 6,813,951 |  |  |  | 51,727 |  |  |  | (7,112,436 | ) |  |  | — |
Deferred Income Taxes |  |  | - |  |  |  | 215,928 |  |  |  | — |  |  |  | (52,988 | ) |  |  | 162,940 |
Total Liabilities |  |  | 1,828,704 |  |  |  | 7,210,060 |  |  |  | 73,866 |  |  |  | (7,165,424 | ) |  |  | 1,947,206 |
Total Stockholders’ Equity |  |  | 1,067,958 |  |  |  | (4,331,447 | ) |  |  | (21,609 | ) |  |  | 4,353,056 |  |  |  | 1,067,958 |
|  | $ | 2,896,662 |  |  | $ | 2,878,613 |  |  | $ | 52,257 |  |  | $ | (2,812,368 | ) |  | $ | 3,015,164 |
Condensed Consolidating Balance Sheet at March 31, 2020 |  | Parent |  |  | Guarantor Subsidiaries |  |  | Non-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 Receivables |  |  | 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 Taxes |  |  | 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 Statement of Cash Flows |
Condensed Consolidating Statement of Cash Flows For the Three Months Ended June 30, 2020 |  | Parent |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Cash Provided by (Used in) Operating Activities |  | $ | 21,481 |  |  | $ | 70,804 |  |  | $ | 3,028 |  |  | $ | — |  |  | $ | 95,313 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Additions to Property, Plant, and Equipment |  |  | — |  |  |  | (25,991 | ) |  |  | — |  |  |  | — |  |  |  | (25,991 | )
Proceeds from Sale of Businesses |  |  | 93,482 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 93,482 |
Net Cash Used in Investing Activities |  |  | 93,482 |  |  |  | (25,991 | ) |  |  | — |  |  |  | — |  |  |  | 67,491 |
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Increase (Decrease) in Credit Facility |  |  | (75,000 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (75,000 | )
Dividends Paid to Stockholders |  |  | (4,163 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (4,163 | )
Payment of Debt Issuance Costs |  |  | (1,718 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,718 | )
Shares Redeemed to Settle Employee Taxes on Stock Compensation |  |  | (1,130 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,130 | )
Intra-entity Activity, net |  |  | 47,610 |  |  |  | (44,592 | ) |  |  | (3,018 | ) |  |  | — |  |  |  | — |
Net Cash Provided by (Used in) Financing Activities |  |  | (34,401 | ) |  |  | (44,592 | ) |  |  | (3,018 | ) |  |  | — |  |  |  | (82,011 | )
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH |  |  | 80,562 |  |  |  | 221 |  |  |  | 10 |  |  |  | — |  |  |  | 80,793 |
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD |  |  | 116,269 |  |  |  | 2,379 |  |  |  | — |  |  |  | — |  |  |  | 118,648 |
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD |  | $ | 196,831 |  |  | $ | 2,600 |  |  | $ | 10 |  |  | $ | — |  |  | $ | 199,441 |
Condensed Consolidating Statement of Cash Flows For the Three Months Ended June 30, 2019 |  | Parent |  |  | Guarantor Subsidiaries |  |  | Non-Guarantor Subsidiaries |  |  | Eliminations |  |  | Consolidated |
CASH FLOWS FROM OPERATING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net Cash Provided by (Used in) Operating Activities |  | $ | (6,412 | ) |  | $ | 57,110 |  |  | $ | — |  |  | $ | — |  |  | $ | 50,698 |
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Additions to Property, Plant, and Equipment |  |  | — |  |  |  | (21,813 | ) |  |  | — |  |  |  | — |  |  |  | (21,813 | )
Net Cash Used in Investing Activities |  |  | — |  |  |  | (21,813 | ) |  |  | — |  |  |  | — |  |  |  | (21,813 | )
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Increase in Credit Facility |  |  | 185,000 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 185,000 |
Dividends Paid to Stockholders |  |  | (4,499 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (4,499 | )
Purchase and Retirement of Common Stock |  |  | (198,355 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (198,355 | )
Proceeds from Stock Option Exercises |  |  | 396 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 396 |
Shares Redeemed to Settle Employee Taxes on Stock Compensation |  |  | (866 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (866 | )
Intra-entity Activity, net |  |  | 35,838 |  |  |  | (35,838 | ) |  |  | — |  |  |  | — |  |  |  | — |
Net Cash Provided by (Used in) Financing Activities |  |  | 17,514 |  |  |  | (35,838 | ) |  |  | — |  |  |  | — |  |  |  | (18,324 | )
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH |  |  | 11,102 |  |  |  | (541 | ) |  |  | — |  |  |  | — |  |  |  | 10,561 |
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 |  | $ | 16,881 |  |  | $ | 2,281 |  |  | $ | — |  |  | $ | — |  |  | $ | 19,162 |

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