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ACQUISITION (Tables) | 12 Months Ended
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Mar. 31, 2021
Preliminary Fair Values of the Assets Acquired and Liabilities Assumed | The following table summarizes the allocation of the purchase price to assets acquired and liabilities assumed as of December 31, 2020, when the allocation was determined to be final:
|  | (dollars in thousands) |
Inventories |  | $ | 28,568 |
Property, Plant, and Equipment |  |  | 476,698 |
Intangible Assets |  |  | 38,300 |
Lease Right-of-Use Assets |  |  | 4,478 |
Lease Obligations |  |  | (4,478 | )
Long-term Liabilities |  |  | (3,756 | )
Total Net Assets |  |  | 539,810 |
Goodwill |  |  | 129,127 |
Total Estimated Purchase Price |  | $ | 668,937 |
Summary of the Fair Value Estimates of the Identifiable Intangible Assets | The following table is a summary of the fair value estimates of the identifiable intangible assets (dollars in thousands) and their weighted-average useful lives:
|  | Weighted Average Life |  |  | Estimated Fair Value |
Permits |  |  | 20 |  |  |  | 1,500 |
Customer Relationships |  |  | 15 |  |  |  | 35,300 |
Trade Name and Technology |  |  | 10 |  |  |  | 1,500 |
Total Intangible Assets |  |  |  |  |  | $ | 38,300 |
Actual and Pro Forma Impact on Net Sales and Operating Loss | Actual and pro forma impact of Kosmos Acquisition: The following table presents the net sales and operating loss related to the Kosmos Acquisition that has been included in our Consolidated Statement of Earnings from March 6, 2020 through March 31, 2020 and for the fiscal year ended March 31, 2021:
|  | For the Years Ended March 31, |
|  | 2020 |  |  | 2021 |
|  | (dollars in thousands) |
Revenue |  | $ | 7,880 |  |  | $ | 175,511 |
Operating Earnings (Loss) |  | $ | (6,756 | ) |  | $ | 34,084 |
Unaudited Pro Forma Results | The unaudited pro forma results presented below include the effects of the Kosmos Acquisition as if it had been consummated as of April 1, 2018. The pro forma results include estimates for depreciation from the fair value adjustments to acquired Property and Equipment, amortization for acquired Intangible Assets, the Inventory step-up to fair value, and interest expense associated with debt used to fund the Kosmos Acquisition. To better reflect the combined operating results, material nonrecurring charges directly related to the Kosmos Acquisition of approximately $5.6 million have been excluded from pro forma net income. Additionally, we excluded a tax benefit of approximately $31.7 million that would not have been available to us had the acquisition occurred on April 1, 2018. See Footnote (J) for more information on the tax benefit.
|  | For the Year Ended March 31, |
|  | 2020 |  |  | 2019 |
|  | Unaudited |
|  | (dollars in thousands) |
Revenue |  | $ | 1,558,342 |  |  | $ | 1,471,350 |
Net Earnings |  | $ | 50,189 |  |  | $ | 66,377 |
Earnings Per Share – basic |  | $ | 1.19 |  |  | $ | 1.42 |
Earnings Per Share - diluted |  | $ | 1.19 |  |  | $ | 1.41 |
ConAgg Acquisition [Member] |
Preliminary Fair Values of the Assets Acquired and Liabilities Assumed | The purchase price for the ConAgg Acquisition was allocated as follows:
|  | As of August 2, 2019 |
|  | (dollars in thousands) |
Accounts Receivable |  | $ | 6,302 |
Inventories |  |  | 1,921 |
Property, Plant, and Equipment |  |  | 22,620 |
Intangible Assets |  |  | 1,320 |
Lease Right-of-Use Assets |  |  | 3,263 |
Other Assets |  |  | 10 |
Lease Obligations |  |  | (3,263 | )
Accounts Payable and Accrued Expenses |  |  | (3,388 | )
Total Net Assets |  |  | 28,785 |
Goodwill |  |  | 1,639 |
Total Estimated Purchase Price |  | $ | 30,424 |

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