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

3 Months Ended

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