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ACQUISITION (Tables) | 9 Months Ended
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Dec. 31, 2020
Business Combinations [Abstract] |
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:
|  | (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 Revenue and Operating Earnings related to the Kosmos Acquisition that has been included in our Consolidated Statement of Earnings for the three and nine months ended December 31, 2020:
|  | For the Three Months Ended |  |  | For the Nine Months Ended |
|  | December 31, 2020 |
|  | (dollars in thousands) |
Revenue |  | $ | 45,407 |  |  | $ | 142,980 |
Operating Earnings |  | $ | 13,316 |  |  | $ | 38,286 |
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, 2019. The pro forma results include estimates for depreciation from 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, approximately $5.6 million of material nonrecurring charges directly related to the Kosmos Acquisition have been excluded from pro forma Net Income.
|  | For the Three Months Ended |  |  | For the Nine Months Ended |
|  | December 31, 2019 |
|  | Unaudited |
|  | (dollars in thousands, except per share data) |
Revenue |  | $ | 393,336 |  |  | $ | 1,225,314 |
Net Earnings from Continuing Operations |  | $ | 49,495 |  |  | $ | 183,498 |
Earnings Per Share from Continuing Operations – basic |  | $ | 1.20 |  |  | $ | 4.34 |
Earnings Per Share from Continuing Operations – diluted |  | $ | 1.20 |  |  | $ | 4.31 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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