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SEGMENT INFORMATION (Tables)

9 Months Ended

Dec. 31, 2021

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 December 31,								For the Nine Months Ended December 31,
		2021				2020				2021				2020
		(dollars in thousands)
Revenue
Cement		$	261,155			$	234,092			$	819,734			$	773,565
Concrete and Aggregates			42,384				43,530				139,888				134,020
Gypsum Wallboard			163,584				135,658				502,836				397,018
Paperboard			49,763				39,602				140,828				122,417
			516,886				452,882				1,603,286				1,427,020
Less: Intersegment Revenue			(26,539	)			(21,105	)			(77,858	)			(68,077	)
Less: Joint Venture Revenue			(27,406	)			(27,110	)			(77,023	)			(79,603	)
		$	462,941			$	404,667			$	1,448,405			$	1,279,340

		For the Three Months Ended December 31,								For the Nine Months Ended December 31,
		2021				2020				2021				2020
		(dollars in thousands)
Intersegment Revenue
Cement		$	5,301			$	5,241			$	18,357			$	17,539
Concrete and Aggregates			—				—				—				106
Paperboard			21,238				15,864				59,501				50,432
		$	26,539			$	21,105			$	77,858			$	68,077
Cement Sales Volume (M tons)
Wholly Owned			1,748				1,616				5,583				5,429
Joint Venture			215				226				614				678
			1,963				1,842				6,197				6,107

		For the Three Months Ended December 31,								For the Nine Months Ended December 31,
		2021				2020				2021				2020
		(dollars in thousands)								(dollars in thousands)
Operating Earnings
Cement		$	79,836			$	70,434			$	231,133			$	210,802
Concrete and Aggregates			4,115				5,075				16,998				15,748
Gypsum Wallboard			60,841				40,792				190,425				119,723
Paperboard			2,349				7,161				6,667				20,708
Sub-Total			147,141				123,462				445,223				366,981
Corporate General and Administrative Expense			(12,851	)			(11,327	)			(32,986	)			(40,225	)
Early Retirement of Senior Notes			—				—				(8,407	)			—
Gain on Sale of Businesses			—				—				—				51,973
Other Non-Operating Income (Loss)			3,207				2,297				5,941				1,898
Earnings Before Interest and Income Taxes			137,497				114,432				409,771				380,627
Interest Expense, net			(5,651	)			(9,360	)			(24,891	)			(35,957	)
Earnings from Continuing Operations Before Income Taxes		$	131,846			$	105,072			$	384,880			$	344,670
Cement Operating Earnings -
Wholly Owned		$	71,281			$	60,351			$	206,348			$	182,346
Joint Venture			8,555				10,083				24,785				28,456
		$	79,836			$	70,434			$	231,133			$	210,802
Capital Expenditures
Cement		$	8,256			$	2,510			$	23,199			$	20,767
Concrete and Aggregates			2,386				1,631				3,459				2,933
Gypsum Wallboard			16,222				491				24,261				11,073
Paperboard			594				233				2,086				10,768
Corporate and Other			953				—				2,183				—
		$	28,411			$	4,865			$	55,188			$	45,541
Depreciation, Depletion, and Amortization
Cement		$	19,933			$	19,337			$	59,483			$	57,838
Concrete and Aggregates			2,294				2,691				7,342				8,110
Gypsum Wallboard			5,598				5,340				16,478				16,201
Paperboard			3,685				3,509				11,016				10,205
Corporate and Other			684				1,203				2,159				3,704
		$	32,194			$	32,080			$	96,478			$	96,058
Discontinued Operations
Capital Expenditures		$	—			$	—			$	—			$	—
Depreciation, Depletion, and Amortization		$	—			$	—			$	—			$	221

		December 31,				March 31,
		2021				2021
		(dollars in thousands)
Identifiable Assets
Cement		$	1,861,439			$	1,898,930
Concrete and Aggregates			88,277				88,410
Gypsum Wallboard			387,309				366,352
Paperboard			183,755				186,156
Other, net			39,341				298,833
		$	2,560,121			$	2,838,681

Segment Breakdown of Goodwill

The segment breakdown of Goodwill is as follows:

		December 31,				March 31,
		2021				2021
		(dollars in thousands)
Cement		$	203,342			$	203,342
Concrete and Aggregates			1,639				1,639
Gypsum Wallboard			116,618				116,618
Paperboard			7,538				7,538
		$	329,137			$	329,137

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 December 31,								For the Nine Months Ended December 31,
		2021				2020				2021				2020
		(dollars in thousands)								(dollars in thousands)
Revenue		$	54,812			$	54,220			$	154,046			$	159,207
Gross Margin		$	18,662			$	22,045			$	53,271			$	61,814
Earnings Before Income Taxes		$	17,111			$	21,920			$	49,570			$	58,665

		December 31,				March 31,
		2021				2021
		(dollars in thousands)
Current Assets		$	69,481			$	66,871
Noncurrent Assets		$	112,937			$	107,617
Current Liabilities		$	18,277			$	16,390

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