Advanced Drainage Systems (WMS) 10-Q 6 Nov 17 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2017	Oct. 31, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Trading Symbol	WMS
Entity Registrant Name	ADVANCED DRAINAGE SYSTEMS, INC.
Entity Central Index Key	1,604,028
Current Fiscal Year End Date	--03-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		55,931,405

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Current assets:
Cash	$ 11,183	$ 6,450
Receivables (less allowance for doubtful accounts of $10,747 and $10,431, respectively)	279,711	168,943
Inventories	214,283	258,430
Other current assets	7,161	6,743
Total current assets	512,338	440,566
Property, plant and equipment, net	410,271	406,858
Other assets:
Goodwill	103,380	100,566
Intangible assets, net	48,429	51,758
Other assets	35,691	46,537
Total assets	1,110,109	1,046,285
Current liabilities:
Current maturities of debt obligations	26,818	37,789
Current maturities of capital lease obligations	21,949	21,450
Accounts payable	93,944	121,922
Current portion of liability-classified stock-based awards		11,926
Other accrued liabilities	71,611	54,460
Accrued income taxes	12,209	8,207
Total current liabilities	226,531	255,754
Long-term debt obligations (less unamortized debt issuance costs of $3,412 and $1,723, respectively)	358,047	310,849
Long-term capital lease obligations	60,934	58,710
Deferred tax liabilities	42,971	44,007
Other liabilities	22,868	26,530
Total liabilities	711,351	695,850
Commitments and contingencies (see Note 9)
Mezzanine equity:
Redeemable convertible preferred stock: $0.01 par value; 47,070 shares authorized; 44,170 shares issued; 23,713 and 24,225 shares outstanding, respectively	296,410	302,814
Deferred compensation – unearned ESOP shares	(194,192)	(198,216)
Redeemable noncontrolling interest in subsidiaries	8,682	8,227
Total mezzanine equity	110,900	112,825
Stockholders’ equity:
Common stock; $0.01 par value: 1,000,000 shares authorized; 153,560 shares issued; 55,413 and 55,338 shares outstanding, respectively	12,393	12,393
Paid-in capital	778,548	755,787
Common stock in treasury, at cost	(442,787)	(436,984)
Accumulated other comprehensive loss	(19,442)	(24,815)
Retained deficit	(56,746)	(83,678)
Total ADS stockholders’ equity	271,966	222,703
Noncontrolling interest in subsidiaries	15,892	14,907
Total stockholders’ equity	287,858	237,610
Total liabilities, mezzanine equity and stockholders’ equity	$ 1,110,109	$ 1,046,285

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Allowance for doubtful accounts	$ 10,747	$ 10,431
Unamortized debt issuance costs	$ 3,412	$ 1,723
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	153,560,000	153,560,000
Common stock, shares outstanding	55,413,000	55,338,000
Redeemable Convertible Preferred Stock [Member]
Mezzanine equity, par value	$ 0.01	$ 0.01
Mezzanine equity, shares authorized	47,070,000	47,070,000
Mezzanine equity, shares issued	44,170,000	44,170,000
Mezzanine equity, shares outstanding	23,713,000	24,225,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Net sales	$ 401,049	$ 360,785	$ 759,408	$ 718,361
Cost of goods sold	311,248	270,273	582,868	531,243
Gross profit	89,801	90,512	176,540	187,118
Operating expenses:
Selling	24,346	23,210	47,445	47,440
General and administrative	23,887	21,181	50,563	55,710
Loss on disposal of assets and costs from exit and disposal activities	5,121	737	8,544	939
Intangible amortization	2,015	2,128	4,059	4,315
Income from operations	34,432	43,256	65,929	78,714
Other expense:
Interest expense	5,055	4,546	9,534	9,330
Derivative gains and other income, net	(2,539)	(1,734)	(3,493)	(4,771)
Income before income taxes	31,916	40,444	59,888	74,155
Income tax expense	13,437	15,348	23,183	29,542
Equity in net loss of unconsolidated affiliates	520	815	272	911
Net income	17,959	24,281	36,433	43,702
Less: net income attributable to noncontrolling interest	96	547	828	1,695
Net income attributable to ADS	17,863	23,734	35,605	42,007
Accretion of redeemable noncontrolling interest		(380)		(742)
Dividends to redeemable convertible preferred stockholders	(470)	(415)	(959)	(840)
Dividends paid to unvested restricted stockholders	(16)	(24)	(35)	(54)
Net income available to common stockholders and participating securities	17,377	22,915	34,611	40,371
Undistributed income allocated to participating securities	(1,397)	(2,040)	(2,830)	(3,563)
Net income available to common stockholders	$ 15,980	$ 20,875	$ 31,781	$ 36,808
Weighted average common shares outstanding:
Basic	55,269	54,429	55,286	54,250
Diluted	55,893	55,276	55,953	55,115
Net income per share:
Basic	$ 0.29	$ 0.38	$ 0.57	$ 0.68
Diluted	0.29	0.38	0.57	0.67
Cash dividends declared per share	$ 0.07	$ 0.06	$ 0.14	$ 0.12

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 17,959	$ 24,281	$ 36,433	$ 43,702
Currency translation	2,558	(2,047)	5,985	(5,168)
Comprehensive income	20,517	22,234	42,418	38,534
Less: other comprehensive income (loss) attributable to noncontrolling interest, net of tax	(239)	(566)	612	(2,067)
Less: net income attributable to noncontrolling interest	96	547	828	1,695
Total comprehensive income attributable to ADS	$ 20,660	$ 22,253	$ 40,978	$ 38,906

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash Flows from Operating Activities
Net income	$ 36,433	$ 43,702
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	37,941	36,036
Deferred income taxes	(801)	1,829
Loss on disposal of assets and costs from exit and disposal activities	8,544	939
ESOP and stock-based compensation	8,709	11,217
Amortization of deferred financing charges	550	702
Fair market value adjustments to derivatives	(590)	(9,060)
Equity in net loss of unconsolidated affiliates	272	911
Other operating activities	12,078	657
Changes in working capital:
Receivables	(111,463)	(31,113)
Inventories	46,205	5,781
Prepaid expenses and other current assets	256	(3,570)
Accounts payable, accrued expenses, and other liabilities	(9,745)	(12,455)
Net cash provided by operating activities	28,389	45,576
Cash Flows from Investing Activities
Capital expenditures	(27,035)	(23,796)
Cash paid for acquisitions, net of cash acquired	(1,990)
Other investing activities	(411)	(622)
Net cash used in investing activities	(29,436)	(24,418)
Cash Flows from Financing Activities
Proceeds from Revolving Credit Facility	335,950	235,600
Payments on Revolving Credit Facility	(273,650)	(207,900)
Payments on Term Loan	(72,500)	(5,000)
Proceeds from Senior Notes	75,000
Payments on Senior Notes	(25,000)	(25,000)
Debt issuance costs	(2,268)
Payments of notes, mortgages and other debt	(1,450)	(430)
Payments on capital lease obligations	(12,217)	(10,810)
Cash dividends paid	(8,673)	(7,338)
Proceeds from exercise of stock options	100	2,687
Repurchase of common stock	(7,947)
Other financing activities	(1,171)	(620)
Net cash provided by (used in) financing activities	6,174	(18,811)
Effect of exchange rate changes on cash	(394)	(98)
Net change in cash	4,733	2,249
Cash at beginning of period	6,450	6,555
Cash at end of period	11,183	8,804
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for income taxes	22,169	3,125
Cash paid for interest	9,424	9,409
Non-cash operating, investing and financing activities:
Acquisition of property, plant and equipment under capital lease and incurred lease obligations	15,196	14,915
Balance in accounts payable for the acquisition of property, plant and equipment	1,375	1,165
Payable recorded for business acquisition	$ 300
Acquisition of property, plant and equipment under financing facility		$ 3,153

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Common Stock [Member]	Paid-In Capital [Member]	Common Stock in Treasury [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings (Deficit) [Member]	Total ADS Stockholders' Equity [Member]	Non-controlling Interest in Subsidiaries [Member]
Beginning Balance, Value at Mar. 31, 2016	$ 202,489	$ 12,393	$ 739,097	$ (440,995)	$ (21,261)	$ (101,778)	$ 187,456	$ 15,033
Beginning Balance, Shares at Mar. 31, 2016		153,560,000		99,123,000
Net income	43,200					42,007	42,007	1,193
Other comprehensive income	(5,168)				(3,101)		(3,101)	(2,067)
Redeemable convertible preferred stock dividends	(763)					(763)	(763)
Common stock dividends	(6,575)					(6,575)	(6,575)
Allocation of ESOP shares to participants for compensation	1,447		1,447				1,447
Exercise of common stock options	5,598		4,550	$ 1,048			5,598
Exercise of common stock options, Shares				(236,000)
Restricted stock awards	203		(4)	$ 207			203
Restricted stock awards, Shares				(47,000)
ESOP distribution in common stock	4,879		3,543	$ 1,336			4,879
ESOP distribution in common stock, Shares				(300,000)
Accretion of redeemable noncontrolling interest	(456)		(456)				(456)
Ending Balance, Value at Sep. 30, 2016	244,854	$ 12,393	748,177	$ (438,404)	(24,362)	(67,109)	230,695	14,159
Ending Balance, Shares at Sep. 30, 2016		153,560,000		98,540,000
Beginning Balance, Value at Mar. 31, 2017	237,610	$ 12,393	755,787	$ (436,984)	(24,815)	(83,678)	222,703	14,907
Beginning Balance, Shares at Mar. 31, 2017		153,560,000		98,222,000
Net income	35,978					35,605	35,605	373
Other comprehensive income	5,985				5,373		5,373	612
Redeemable convertible preferred stock dividends	(888)					(888)	(888)
Common stock dividends	(7,785)					(7,785)	(7,785)
Allocation of ESOP shares to participants for compensation	1,185		1,185				1,185
Exercise of common stock options	100		58	$ 42			100
Exercise of common stock options, Shares				(2,000)
Restricted stock awards	1,409		1,060	$ 349			1,409
Restricted stock awards, Shares				(78,000)
Reclassification of liability-classified awards	13,714		13,714				13,714
Stock-based compensation expense before related tax effects	2,093		2,093				2,093
ESOP distribution in common stock	6,404		4,651	$ 1,753			6,404
ESOP distribution in common stock, Shares				(394,000)
Common stock repurchases	(7,947)	$ (7,900)		$ (7,947)			(7,947)
Common stock repurchases, Shares		400,000		400,000
Ending Balance, Value at Sep. 30, 2017	$ 287,858	$ 12,393	$ 778,548	$ (442,787)	$ (19,442)	$ (56,746)	$ 271,966	$ 15,892
Ending Balance, Shares at Sep. 30, 2017		153,560,000		98,148,000

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Mezzanine Equity - USD ($) shares in Thousands, $ in Thousands	Total	Redeemable Non-controlling Interest [Member]	Redeemable Convertible Preferred Stock [Member]	Deferred Compensation - Unearned ESOP Shares [Member]	Total Mezzanine Equity [Member]
Beginning Balance, Value at Mar. 31, 2016		$ 7,171	$ 310,240	$ (205,664)	$ 111,747
Beginning Balance, Shares at Mar. 31, 2016			24,819	16,448
Net income		502			502
Allocation of ESOP shares to participants for compensation	$ 1,447			$ 3,656	3,656
Allocation of ESOP shares to participants for Compensation, Shares				(293)
ESOP distribution in common stock			$ (4,879)		(4,879)
ESOP distribution in common stock, Shares			(390)
Accretion of redeemable noncontrolling interest		742			742
Ending Balance, Value at Sep. 30, 2016		8,415	$ 305,361	$ (202,008)	111,768
Ending Balance, Shares at Sep. 30, 2016			24,429	16,155
Beginning Balance, Value at Mar. 31, 2017	112,825	8,227	$ 302,814	$ (198,216)	112,825
Beginning Balance, Shares at Mar. 31, 2017			24,225	15,863
Net income		455			455
Allocation of ESOP shares to participants for compensation	1,185			$ 4,024	4,024
Allocation of ESOP shares to participants for Compensation, Shares				(322)
ESOP distribution in common stock			$ (6,404)		(6,404)
ESOP distribution in common stock, Shares			(512)
Ending Balance, Value at Sep. 30, 2017	$ 110,900	$ 8,682	$ 296,410	$ (194,192)	$ 110,900
Ending Balance, Shares at Sep. 30, 2017			23,713	15,541

Condensed Consolidated Stateme9

Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement Of Stockholders Equity [Abstract]
Common stock dividend per share	$ 0.07	$ 0.06	$ 0.14	$ 0.12

Background and Summary of Signi

Background and Summary of Significant Accounting Policies	6 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Background and Summary of Significant Accounting Policies	1. BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business - Advanced Drainage Systems, Inc. and subsidiaries (collectively referred to as “ADS” or the “Company”), incorporated in Delaware, designs, manufactures and markets high performance thermoplastic corrugated pipe and related water management products, primarily in North and South America and Europe. ADS’s broad product line includes corrugated high density polyethylene (or “HDPE”) pipe, polypropylene (or “PP”) pipe and related water management products. On August 1, 2017, ADS acquired DURASLOT, Inc., a manufacturer of linear surface drains, for $2.3 million. The acquisition included approximately $2.1 million of tax-deductible goodwill. The Company is managed based primarily on the geographies in which it operates and reports results of operations in two reportable segments: Domestic and International. Historically, sales of the Company’s products have been higher in the first and second quarters of each fiscal year due to favorable weather and longer daylight conditions accelerating construction activity during these periods. Seasonal variations in operating results may also be impacted by inclement weather conditions, such as cold or wet weather, which can delay projects. Basis of Presentation - The Company prepares its Condensed Consolidated Financial Statements in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The Condensed Consolidated Balance Sheet as of March 31, 2017 was derived from audited financial statements included in the Annual Report on Form 10-K for the year ended March 31, 2017 (“Fiscal 2017 Form 10-K”). The accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, of a normal recurring nature, necessary to present fairly its financial position as of September 30, 2017 and the results of operations and cash flows for the three and six months ended September 30, 2017 and 2016. The interim Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements, including the notes thereto, filed in the Company’s Fiscal 2017 Form 10-K. Principles of Consolidation - The Condensed Consolidated Financial Statements include the Company, its wholly-owned subsidiaries, its majority-owned subsidiaries and variable interest entities (“VIEs”) of which the Company is the primary beneficiary. The Company uses the equity method of accounting for equity investments where it exercises significant influence but does not hold a controlling financial interest. Such investments are recorded in Other assets in the Condensed Consolidated Balance Sheets and the related equity earnings from these investments are included in Equity in net loss of unconsolidated affiliates in the Condensed Consolidated Statements of Operations. All intercompany balances and transactions have been eliminated in consolidation. Recent Accounting Guidance Recently Adopted Accounting Guidance Measurement of Inventory In July 2015, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update (“ASU”) which requires entities to measure most inventory at the lower of cost and net realizable value, simplifying current guidance under which an entity must measure inventory at the lower of cost or market. The determination of market value, under current guidance, is considered unnecessarily complex as there are several potential outcomes based on its definition as replacement cost, net realizable value, or net realizable value less an approximate normal profit margin. Whereas net realizable value, under the update, is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The Company adopted this standard effective April 1, 2017. The new standard did not have a material impact on the Condensed Consolidated Financial Statements. Stock-Based Compensation In March 2016, the FASB issued an ASU which is intended to simplify certain aspects of the accounting for stock-based compensation. The Company adopted the standard on April 1, 2017. The adoption of the ASU did not have a material impact on the historical Consolidated Financial Statements. This update contains changes to the accounting for excess tax benefits, whereby excess tax benefits will be recognized in the income statement rather than in additional paid-in capital on the balance sheet. This update is expected to result in increased volatility to income tax expense in future periods dependent upon the timing of employee exercises of stock options, the price of the Company's common stock and the vesting of restricted stock awards. In addition, excess tax benefits will now be classified as operating cash flows rather than financing cash flows in the Condensed Consolidated Statements of Cash Flows. The amendment also contains potential changes to the accounting for forfeitures, whereby entities can elect to either continue to apply the current requirement to estimate forfeitures when determining compensation expense, or to alternatively reverse the compensation expense of forfeited awards when they occur. The Company will account for forfeitures as they occur, which may result in expense volatility based on the timing of forfeitures. In addition, the update also modified the net-share settlement liability classification exception for statutory income tax withholdings, whereby the new guidance allows an employer with a statutory income tax withholding obligation to withhold shares with a fair value up to the maximum statutory tax rate in the employee’s applicable jurisdiction. The Company included this provision in awards issued in fiscal 2017 and modified previously issued awards on April 1, 2017. See “Note 11. Stock-Based Compensation” for further information on the modification. Recent Accounting Guidance Not Yet Adopted Revenue Recognition - In May 2014, the FASB issued an ASU which amends the guidance for revenue recognition. This standard contains principles that will require an entity to recognize revenue to depict the transfer of goods and services to customers at an amount that an entity expects to be entitled to in exchange for goods or services. The standard sets forth a new revenue recognition model that requires identifying the contract, identifying the performance obligations and recognizing the revenue upon satisfaction of performance obligations. In August 2015, the FASB issued an ASU that deferred the effective date of the new revenue standard for public entities to periods beginning after December 15, 2017, with early adoption permitted but not earlier than the original effective date of periods beginning after December 15, 2016. There have also been various additional accounting standards updates issued by the FASB in 2016 that further amend this new revenue standard. The updated standard permits the use of either the retrospective or cumulative effect transition method. The Company will adopt this standard effective April 1, 2018. To date, the Company has formed an internal stakeholder group to promote information sharing, communicate the new requirements of the standard, and assess the impact of the new revenue recognition model on the Company’s contracts with customers. The Company expects enhanced revenue disclosures as the result of adoption. The Company has not yet selected a transition method and is currently evaluating the impact of this standard on the Condensed Consolidated Financial Statements. Leases - In February 2016, the FASB issued an ASU which amends the guidance for leases. This standard contains principles that will require an entity to recognize most leases on the balance sheet by recording a right-of-use asset and a lease liability, unless the lease is a short-term lease that has an accounting lease term of twelve months or less. The standard also contains other changes to the current lease guidance that may result in changes to how entities determine which contractual arrangements qualify as a lease, the accounting for executory costs such as property taxes and insurance, as well as which lease origination costs will be capitalizable. The new standard also requires expanded quantitative and qualitative disclosures. This standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those years, and early adoption is permitted. The standard requires the use of the modified retrospective transition method, whereby the new guidance will be applied at the beginning of the earliest period presented in the financial statements of the period of adoption. The modified retrospective transition approach includes certain practical expedients that entities may elect to apply in transition. The Company expects to adopt this standard effective April 1, 2019. The Company has implemented a new software solution to improve the process of tracking and accounting for leases under the current and new standards. The Company has not yet determined whether to apply any of the available practical expedients. The Company has begun the process of reviewing contracts under the new standard to determine the impact the new standard will have on the Condensed Consolidated Financial Statements. Measurement of Credit Losses - In June 2016, the FASB issued an ASU which provides amended guidance on the measurement of credit losses on financial instruments, including trade receivables. This standard requires the use of an impairment model referred to as the current expected credit loss model. This standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those years, and early adoption is permitted for fiscal years beginning after December 15, 2018. The Company expects to adopt this standard effective April 1, 2020. The Company is currently evaluating the impact of this standard on the Condensed Consolidated Financial Statements. Cash Flow Classification - In August 2016, the FASB issued an ASU which provides amended guidance on the classification of certain cash receipts and cash payments in the statement of cash flows, including related to debt prepayment or debt extinguishment costs, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance and distributions received from equity method investees. This update is effective for fiscal years beginning after December 15, 2017, including interim periods within those years, and early adoption is permitted. This amended guidance must be applied retrospectively to all periods presented, but may be applied prospectively if retrospective application would be impracticable. The Company expects to adopt this update effective April 1, 2018. The Company is currently evaluating the impact of this update on the Condensed Consolidated Financial Statements. Goodwill Impairment - In January 2017, the FASB issued an ASU which removes the requirement to compare the implied fair value of goodwill with its carrying amount as part of step 2 of the goodwill impairment test. As a result, under the standards update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The amendments are effective for annual periods beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company expects to adopt this standard effective April 1, 2020. The Company is currently evaluating the impact of this standard on the Condensed Consolidated Financial Statements. Definition of a Business - In January 2017, the FASB issued an ASU to clarify the definition of a business. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The amendments are intended to help companies and other organizations evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments provide a more robust framework to use in determining when a set of assets and activities is a business. The amendments are effective for annual periods beginning after December 15, 2017, including interim periods within those periods. The Company will adopt this standard effective April 1, 2018. The new standard will not have a material impact on the Condensed Consolidated Financial Statements. Stock-Based Compensation - In May 2017, the FASB issued an ASU to clarify when modification accounting should be applied for changes to the terms or conditions of share-based payment awards. The amendments clarify that modification accounting guidance should only be applied if there is a change to the value, vesting conditions, or award classification and would not be required if the changes are considered non-substantive. The amendments are effective for annual periods beginning after December 15, 2017, including interim periods within those periods. The Company expects to adopt this standard effective April 1, 2018. The Company is currently evaluating the impact of this update on its Condensed Consolidated Financial Statements. Hedge Accounting – In August 2017, the FASB issued an ASU which expands an entity’s ability to apply hedge accounting for non-financial and financial risk components and provides a simplified approach for fair value hedging of interest rate risk. The standard also refines how entities assess hedge effectiveness. This standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those years, and early adoption is permitted. The Company is currently evaluating the impact of this standard on the Condensed Consolidated Financial Statements. With the exception of the pronouncements described above, there have been no new accounting pronouncements issued or adopted since the filing of the Fiscal 2017 Form 10-K that have significance, or potential significance, to the Condensed Consolidated Financial Statements.

Loss on Disposal of Assets and

Loss on Disposal of Assets and Costs from Exit and Disposal Activities	6 Months Ended
	Sep. 30, 2017
Discontinued Operations And Disposal Groups [Abstract]
Loss on Disposal of Assets and Costs from Exit and Disposal Activities	2. The Company recorded loss on disposal of assets and costs from exit and disposal activities of $5.1 million and $8.5 million for the three and six months ended September 30, 2017, respectively. For the three and six months ended September 30, 2016, the Company recorded loss on disposal of assets and costs from exit and disposal activities of $0.7 million and $0.9 million, respectively. In fiscal 2018, the Company initiated restructuring activities, including closing three underutilized manufacturing facilities, reducing headcount and eliminating nonessential costs, designed to improve the Company’s cost structure. The following table summarizes the activity included in Loss on disposal of assets and costs from exit and disposal activities recorded during the three and six months ended September 30, 2017 and 2016: Three Months Ended September 30, Six Months Ended September 30, 2017 2016 2017 2016 (in thousands) Accelerated depreciation $ 1,520 $ — $ 3,561 $ — Plant severance 186 — 827 — Headcount reduction 2,577 — 2,577 — Total restructuring activities $ 4,283 $ — $ 6,965 $ — Loss on other disposals and partial disposals of property, plant and equipment 838 737 1,579 939 Total loss on disposal of assets and costs from exit and disposal activities $ 5,121 $ 737 $ 8,544 $ 939 As of September 30, 2017, the Company has a $2.8 million severance liability related to restructuring activities recorded in Other accrued liabilities and Other liabilities in the Condensed Consolidated Balance Sheets.

Receivables and Allowance for D

Receivables and Allowance for Doubtful Accounts	6 Months Ended
	Sep. 30, 2017
Accounts Notes Loans And Financing Receivable Gross Allowance And Net [Abstract]
Receivables and Allowance For Doubtful Accounts	3. Receivables include trade receivables, refundable income taxes and other miscellaneous receivables, net of an allowance for doubtful accounts. Receivables at September 30, 2017 and March 31, 2017 consisted of the following: September 30, 2017 March 31, 2017 (In thousands) Trade receivables $ 245,642 $ 160,655 Refundable income taxes 3,408 1,468 Other miscellaneous receivables 30,661 6,820 Receivables $ 279,711 $ 168,943 As of September 30, 2017, Other miscellaneous receivables includes an insurance recoverable of approximately $12.0 million, which has a corresponding liability recorded in Other accrued liabilities, and approximately $13.0 million related to the discontinuance of cash surrender value of officer life insurance on key senior management executives which is being monetized.

Inventories

Inventories	6 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Inventories	4 . Inventories as of the periods presented consisted of the following: September 30, 2017 March 31, 2017 (In thousands) Raw materials $ 45,938 $ 52,746 Finished goods 168,345 205,684 Total inventories $ 214,283 $ 258,430 There were no work-in-process inventories as of the periods presented.

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurement	5 . When applying fair value principles in the valuation of assets and liabilities, the Company is required to maximize the use of quoted market prices and minimize the use of unobservable inputs. The Company has not changed its valuation techniques used in measuring the fair value of any financial assets or liabilities during the fiscal years presented. The fair value estimates take into consideration the credit risk of both the Company and its counterparties. When active market quotes are not available for financial assets and liabilities, ADS uses industry standard valuation models. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs including credit risk, interest rate curves, foreign currency rates and forward and spot prices for currencies. In circumstances where market-based observable inputs are not available, management judgment is used to develop assumptions to estimate fair value. Generally, the fair value of Level 3 instruments is estimated as the net present value of expected future cash flows based on internal and external inputs. Recurring Fair Value Measurements - The assets and liabilities carried at fair value as of the periods presented were as follows: September 30, 2017 Total Level 1 Level 2 Level 3 (In thousands) Assets: Derivative assets – diesel fuel contracts $ 442 $ — $ 442 $ — Derivative assets – interest rate swap 615 — 615 — Total assets at fair value on a recurring basis $ 1,057 $ — $ 1,057 $ — Liabilities: Derivative liability - diesel fuel contracts $ 2 $ — $ 2 $ — Derivative liability - interest rate swap 428 — 428 — Contingent consideration for acquisitions 735 — — 735 Total liabilities at fair value on a recurring basis $ 1,165 $ — $ 430 $ 735 March 31, 2017 Total Level 1 Level 2 Level 3 (In thousands) Assets: Derivative assets – diesel fuel contracts $ 179 $ — $ 179 $ — Total assets at fair value on a recurring basis $ 179 $ — $ 179 $ — Liabilities: Derivative liability - diesel fuel contracts $ 142 $ — $ 142 $ — Contingent consideration for acquisitions 1,348 — — 1,348 Total liabilities at fair value on a recurring basis $ 1,490 $ — $ 142 $ 1,348 For the six months ended September 30, 2017 and 2016, respectively, there were no transfers in or out of Levels 1, 2 or 3. Valuation of Contingent Consideration for Acquisitions - The fair values of the contingent consideration payables for acquisitions were calculated based on a discounted cash flow model, whereby the probability-weighted future payment value is discounted to the present value using a market discount rate. The method used to price these liabilities is considered Level 3, due to the subjective nature of the unobservable inputs used to determine the fair value. Changes in the fair value of recurring fair value measurements using significant unobservable inputs (Level 3) for the periods presented were as follows: Three Months Ended September 30, Six Months Ended September 30, 2017 2016 2017 2016 (In thousands) Balance at the beginning of the period $ 858 $ 2,199 $ 1,348 $ 2,858 Change in fair value 6 31 32 57 Payments of contingent consideration liability (129 ) (233 ) (645 ) (918 ) Balance at the end of the period $ 735 $ 1,997 $ 735 $ 1,997 Valuation of Debt - The carrying amounts of current financial assets and liabilities approximate fair value because of the immediate or short-term maturity of these items, or in the case of derivative instruments, because they are recorded at fair value. The carrying and fair value of the Company’s Senior Notes (discussed in “Note 7. Debt”) were $125.0 million and $124.9 million, respectively, as of September 30, 2017 and $75.0 million and $75.9 million, respectively, at March 31, 2017. The fair value of the Senior Notes was determined based on a comparison of the interest rate and terms of such borrowings to the rates and terms of similar debt available for the period. The Company believes the carrying amount on the remaining long-term debt, including the Secured Bank Term Loans, is not materially different from its fair value as the interest rates and terms of the borrowings are similar to currently available borrowings. The categorization of the framework used to evaluate this debt is considered Level 2.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Sep. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	6 . ADS Mexicana - ADS conducts business in Mexico and Central America through its joint venture ADS Mexicana, S.A. de C.V. (together with its affiliate ADS Corporativo, S.A. de C.V., “ADS Mexicana”). ADS owns 51% of the outstanding stock of ADS Mexicana and consolidates ADS Mexicana for financial reporting purposes. During the three and six months ended September 30, 2017 and 2016, ADS Mexicana compensated certain current and former shareholders of Grupo Altima, the joint venture partner of ADS Mexicana, for consulting services related to the operations of the business. These cash payments were $0.1 million or less for the three and six months ended September 30, 2017 and 2016. Occasionally, ADS and ADS Mexicana jointly enter into agreements for pipe sales with related parties. There were no such sales in either the three and six months ended September 30, 2017 and 2016. However, outstanding receivables related to such sales from prior periods were $0.1 million and $0.2 million as of September 30, 2017 and March 31, 2017, respectively. The Company is the guarantor of 100% of a second credit facility for ADS Mexicana, and the Company’s maximum potential payment under this guarantee is $12.0 million. See “Note 7. Debt.” South American Joint Venture - The Tuberias Tigre – ADS Limitada joint venture (the “South American Joint Venture”) manufactures and sells HDPE corrugated pipe in certain South American markets. ADS is the guarantor of 50% of the South American Joint Venture’s credit facility, and the debt guarantee is shared equally with the joint venture partner. The Company’s maximum potential obligation under this guarantee is $11.0 million as of September 30, 2017. The maximum borrowings permitted under the South American Joint Venture’s credit facility are $22.0 million. This credit facility allows borrowings in either Chilean pesos or US dollars at a fixed interest rate determined at inception of each draw on the facility. The guarantee of the South American Joint Venture’s debt expires on December 31, 2020. ADS does not anticipate any required contributions related to the balance of this credit facility. As of September 30, 2017 and March 31, 2017, the outstanding principal balances of the credit facility including letters of credit were $15.4 million and $16.0 million, respectively. As of September 30, 2017, there were no U.S. dollar denominated loans. The weighted average interest rate as of September 30, 2017 was 5.8% on Chilean peso denominated loans. ADS and the South American Joint Venture have shared services arrangements in order to execute the joint venture services. In addition, the South American Joint Venture has entered into agreements for pipe sales with ADS and its other related parties, which totaled $0.2 million and $0.8 million for the three and six months ended September 30, 2017, respectively, and $0.3 million and $0.5 million for the three and six months ended September 30, 2016, respectively. ADS pipe sales to the South American Joint Venture were $0.1 million and $0.2 million for the three and six months ended September 30, 2017, respectively, and $0.2 million and $0.5 million for the three and six months ended September 30, 2016, respectively. BaySaver - BaySaver Technologies LLC (“BaySaver”) is a joint venture that was established to produce and distribute water quality filters and separators used in the removal of sediment and pollution from storm water. ADS owns 65% of the outstanding stock of BaySaver and consolidates its interest in BaySaver. ADS and BaySaver have entered into shared services arrangements in order to execute the joint venture services. Included within these arrangements are the lease of a plant and adjacent yard used to conduct business and operating expenses related to the leased facility. Occasionally, ADS and BaySaver jointly enter into agreements for sales of pipe and Allied Products with their related parties, which were immaterial for the periods presented. Tigre-ADS USA - Tigre-ADS USA is a joint venture established to manufacture and sell PVC fittings for waterworks, plumbing, and HVAC applications primarily in the United States and Canadian markets. ADS owns 49% of the outstanding shares of capital stock of Tigre-ADS USA. The joint venture represents a continuation of the existing activities of Tigre-ADS USA through its Janesville, Wisconsin manufacturing facility. ADS is the guarantor of 49% of a specific Tigre-ADS USA credit facility. The Company’s maximum potential obligation under this guarantee totals $4.4 million as of September 30, 2017. The guarantee of Tigre-ADS USA’s debt expires on August 2, 2018. ADS does not anticipate any required contributions related to the balance of this credit facility. The outstanding principal balance of the credit facility, including letters of credit the Company guarantees, was $9.0 million as of both September 30, 2017 and March 31, 2017. The weighted average interest rate as of September 30, 2017 was 3.25%. ADS purchased $0.5 million and $1.1 million of Tigre-ADS USA manufactured products for use in the production of ADS products during the three and six months ended September 30, 2017, respectively, and $0.5 million and $0.9 million during the three and six months ended September 30, 2016.

Debt

Debt	6 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Debt	7 . Long-term debt as of the periods presented consisted of the following: September 30, 2017 March 31, 2017 (In thousands) Secured Bank Term Loans: Revolving Credit Facility — ADS $ 258,100 $ 194,300 Revolving Credit Facility — ADS Mexicana — 1,500 Term Note — 72,500 Senior Notes payable 125,000 75,000 Industrial revenue bonds 1,395 1,845 Equipment financing 3,782 4,216 ADS Mexicana Scotia bank revolving credit facility — 1,000 Total 388,277 350,361 Unamortized debt issuance costs (3,412 ) (1,723 ) Current maturities (26,818 ) (37,789 ) Long-term debt obligation $ 358,047 $ 310,849 Master Loan and Security Agreement - In June 2016, ADS signed a Master Loan and Security Agreement for Equipment Financing in the U.S. and Canada for an aggregate amount of up to $4.5 million. During fiscal 2017, the Company issued $4.6 million of Equipment Notes with a weighted average fixed interest rate at 2.72%, with the aggregate loan amount during fiscal 2017 reaching a total of $4.2 million, net of principal payments. Each Equipment Note amortizes the principal over five years and is payable monthly. Events Related to the Secured Bank Term Loans - On May 19, 2017, the Company obtained a waiver from the lenders of the Revolving Credit Facility regarding an event of default. A material domestic subsidiary failed to join as a guarantor resulting in default. The lenders agreed to waive the default if the material domestic subsidiary joins as a guarantor by July 31, 2017. The material domestic subsidiary joined as a guarantor on June 22, 2017 upon the closing of the amended Secured Bank Term Loans discussed below. On June 28, 2017, ADS executed a Forward Interest Rate Swap on the 30-Day LIBOR interest rate to mitigate the impact of interest rate volatility. The swap has a notional value of $100.0 million and a fixed rate of 1.8195% for a five year period. Events Related to the Senior Notes - On June 28, 2017, the Company issued and sold Shelf Notes in the aggregate principal amount of $75.0 million pursuant to the Private Shelf Agreement. The $75.0 million of Shelf Notes bears interest at a fixed interest rate of 3.53% per annum and have a maturity date of seven years from the date of issuance. The rate is subject to an additional 100 basis point excess leverage fee if the calculated leverage ratio exceeds 3 to 1 at the end of a fiscal quarter. Long-term Debt Modification Secured Bank Term Loans - On June 22, 2017, the Company and certain of its subsidiaries, as guarantors (collectively, the “Guarantors”), entered into a Second Amended and Restated Credit Agreement (the “Credit Agreement”) with PNC Bank, National Association (“PNC”), as administrative agent (in such capacity, the “Agent”), and various financial institutions party thereto (together with PNC, collectively, the “Lenders”), pursuant to which the Lenders have committed to provide the Company a $550.0 million revolving credit facility (with an option to increase such revolving credit facility or incur new term loans in an agreement amount of up to $150.0 million) subject to the terms and conditions in the Credit Agreement. The Credit Agreement amends and restates the Amended and Restated Credit Agreement dated as of June 12, 2013, as amended, among the Company and certain of its subsidiaries, as guarantors, various financial institutions party thereto, and the Agent. Borrowings under the credit facility will be used for general corporate purposes, including repurchases of stock, repayments of existing indebtedness, repayments of short-term borrowings, working capital requirements, capital expenditures and acquisitions. The interest rates under the Credit Agreement are determined by certain base rates or LIBOR rates, plus an applicable margin based on the Leverage Ratio then in effect. The average interest rate was 3.21% as of September 30, 2017. The Credit Agreement has an expiration date of June 22, 2022. The Credit Agreement sets forth certain customary business and financial covenants to which the Company and Guarantors are subject when any amounts under the Credit Agreement are outstanding, including covenants that limit or restrict the ability of the Company and the Guarantors to incur indebtedness, to make capital distributions, and to incur certain liens and encumbrances on any of its respective property. The two primary financial covenants of the Credit Agreement require the Company to maintain a certain Leverage Ratio and an Interest Coverage Ratio. The Credit Agreement Leverage Ratio generally requires that at the end of any fiscal quarter, for the four fiscal quarters then ended, the Company will not permit the ratio of its total consolidated indebtedness to the Company’s Consolidated EBITDA (as defined in the Credit Agreement) to be greater than 4.00 to 1.00 (or 4.25 to 1.00 as of the date of any acquisitions permitted under the Credit Agreement for which the aggregate consideration is $100.0 million or greater). The Credit Agreement Interest Coverage Ratio generally requires that at the end of any fiscal quarter, for the four fiscal quarters then ended, the Company will not permit the ratio of Consolidated EBITDA to the Company’s consolidated interest expense payable during such period to be less than 3.00 to 1.00. The Credit Agreement provides for customary events of default, including, among other things, in the event of nonpayment of principal, interest, or other amounts, a representation or warranty proving to have been incorrect in any material respect when made, failure to perform or observe certain covenants within a specified period of time, a cross-default to other Company indebtedness of a specified amount, the bankruptcy or insolvency of the Company or a Guarantor, monetary judgment defaults of a specified amount, a change of control of the Company, and ERISA defaults resulting in liability under certain circumstances. In the event of a default by the Company, the Agent or the requisite number of Lenders may declare all amounts owed under the Credit Agreement and outstanding letters of credit immediately due and payable and terminate the Lenders’ commitments to make loans under the Credit Agreement. For defaults related to bankruptcy, insolvency or reorganization proceedings, the commitments of the Lenders will be automatically terminated and all outstanding loans and other amounts will become immediately due and payable. Senior Notes - On June 22, 2017, the Company and the Guarantors entered into the Second Amended and Restated Private Shelf Agreement (the “Private Shelf Agreement”) with PGIM, Inc. (“Prudential”) and certain other parties thereto. The Private Shelf Agreement amends and restates the Amended and Restated Private Shelf Agreement dated as of September 24, 2010, as amended, pursuant to which the Company has previously issued and sold secured senior notes of the Company. Under the terms of the Private Shelf Agreement, the Company may request that Prudential purchase, over the next three years, secured senior notes of the Company so long as the aggregate principal amount of notes outstanding at any time does not exceed $175.0 million (the “Shelf Notes”). The Shelf Notes shall bear interest at a fixed interest rate and have a maturity date not to exceed ten years from the date of issuance. Prudential and its affiliates are under no obligation to purchase any of the Shelf Notes. The interest rate and terms of payment of any series of Shelf Notes will be determined at the time of purchase. The proceeds of any series of Shelf Notes will be used as specified in the request for purchase with respect to such series, subject to compliance with the requirements in the Private Shelf Agreement, but are anticipated to be used for general corporate purposes, including refinancing of short-term borrowings and/or repayment of outstanding indebtedness under the Credit Agreement, which is described above, as well as financing of capital expenditures and acquisitions. Obligations under the Private Shelf Agreement are secured by capital stock of certain direct and indirect subsidiaries of the Company and the Guarantors and substantially all other tangible and intangible personal property owned by the Company and the Guarantors. Obligations under the Private Shelf Agreement are secured by the collateral on a pari passu basis with obligations under the Credit Agreement. The Private Shelf Agreement sets forth certain customary business and financial covenants to which the Company and Guarantors are subject when any Shelf Note is outstanding, including covenants that limit or restrict the ability of the Company and the Guarantors to incur indebtedness, to make capital distributions, and to incur certain liens and encumbrances on any of its respective property. The two primary financial covenants of the Private Shelf Agreement require the Company to maintain a certain Leverage Ratio and an Interest Coverage Ratio. The Private Self Agreement Leverage Ratio generally requires that at the end of any fiscal quarter, for the four fiscal quarters then ended, the Company will not permit the ratio of its total consolidated indebtedness to the Company’s Consolidated EBITDA (as defined in the Private Shelf Agreement) to be greater than 4.00 to 1.00 (or 4.25 to 1.00 as of the date of any acquisitions permitted under the Private Self Agreement for which the aggregate consideration is $100.0 million or greater). The Private Self Agreement Interest Coverage Ratio generally requires that at the end of any fiscal quarter, for the four fiscal quarters then ended, the Company will not permit the ratio of Consolidated EBITDA to the Company’s consolidated interest expense payable during such period to be less than 3.00 to 1.00. The Private Shelf Agreement provides for customary events of default, including, among other things, in the event of nonpayment of principal, interest, or other amounts, a representation or warranty proving to have been incorrect in any material respect when made, failure to perform or observe certain covenants within a specified period of time, a cross-default to other Company indebtedness of a specified amount, the bankruptcy or insolvency of the Company or a Guarantor, monetary judgment defaults of a specified amount, a change of control of the Company, and ERISA defaults resulting in liability under certain circumstances. In the event of a default by the Company, any or all holders of Shelf Notes may declare amounts owed under the Private Shelf Agreement immediately due and payable. For defaults related to bankruptcy, insolvency or reorganization proceedings, all amounts owed under the Agreement will become immediately due and payable, and Prudential may at its option terminate the Private Shelf Note Facility. Principal Maturities – Maturities of long-term debt (excluding interest and deferred financing costs) as of September 30, 2017 are summarized below: Twelve Months Ended September 30, (Amounts in thousands) 2018 2019 2020 2021 2022 Thereafter Total Principal maturities $ 26,818 $ 26,397 $ 947 $ 931 $ 258,184 $ 75,000 $ 388,277

Derivative Transactions

Derivative Transactions	6 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Derivative Transactions	8 . DERIVATIVE TRANSACTIONS Derivatives - The Company uses interest rate swaps and commodity options in the form of collars and swaps to manage its various exposures to interest rate and commodity price fluctuations. For interest rate swaps, gains and losses resulting from the difference between the spot rate and applicable base rate is recorded in interest expense. For collars and commodity swaps, contract settlement gains and losses are recorded in the Condensed Consolidated Statements of Operations in Derivative gains and other income, net. Gains and losses related to mark-to-market adjustments for changes in fair value of the derivative contracts are also recorded in the Condensed Consolidated Statements of Operations in Derivative gains and other income, net. The Company recorded net losses and net (gains) on mark-to-market adjustments for changes in the fair value of derivatives contracts as well as net losses and net (gains) on the settlement of derivative contracts as follows: Three Months Ended September 30, Six Months Ended September 30, 2017 2016 2017 2016 (in thousands) Propylene swaps $ — $ (3,334 ) $ — $ (6,647 ) Diesel fuel contracts (678 ) (689 ) (402 ) (2,161 ) Interest rate swaps (103 ) (130 ) (188 ) (252 ) Total net unrealized mark-to-market (gains) $ (781 ) $ (4,153 ) $ (590 ) $ (9,060 ) Propylene swaps — 1,611 — 4,683 Diesel fuel contracts (53 ) 679 (1 ) 1,385 Total net realized (gains) losses $ (53 ) $ 2,290 $ (1 ) $ 6,068 A summary of the fair value of derivatives is included in “Note 5. Fair Value Measurements.” Other Non-Operating Income - In addition to the above amounts, Derivative gains and other income, net in the Condensed Consolidated Statements of Operations, also includes other non-operating income of $1.7 million and $2.9 million for the three and six month period ended September 30, 2017, respectively, and other non-operating expense of $0.1 million and income of $1.8 million for the three and six month period ending September 30, 2016, respectively.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Sep. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. COMMITMENTS AND CONTINGENCIES Purchase Commitments – The Company secures supplies of resin raw material by agreeing to purchase quantities during a future given period at a fixed price. These purchase contracts typically range from 1 to 12 months and occur in the ordinary course of business. Under such noncancelable purchase contracts in place at September 30, 2017, the Company has agreed to purchase resin over the period October 2017 through December 2017 at a committed purchase cost of $6.0 million. Litigation and Other Proceedings – On July 29, 2015, a putative stockholder class action, Christopher Wyche, individually and on behalf of all others similarly situated v. Advanced Drainage Systems, Inc., et al. (Case No. 1:15-cv-05955-KPF), was commenced in the U.S. District Court for the Southern District of New York (the “District Court”), naming the Company, along with Joseph A. Chlapaty, the Company’s former Chief Executive Officer, and Mark B. Sturgeon, the Company’s former Chief Financial Officer, as defendants and alleging violations of the federal securities laws. An amended complaint was filed on April 28, 2016. The amended complaint alleges that the Company made material misrepresentations and/or omissions of material fact in its public disclosures during the period from July 25, 2014 through March 29, 2016, in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated thereunder. On March 10, 2017, the District Court dismissed Plaintiff’s claims against all defendants in their entirety and with prejudice. Plaintiff appealed to the United States Court of Appeals for the Second Circuit, and on October 13, 2017 the District Court’s judgment was affirmed by the Second Circuit. On October 27, 2017, Plaintiff filed a petition for rehearing with the Second Circuit, and the petition is pending. On August 12, 2015, the SEC Division of Enforcement (“Enforcement Division”) informed the Company that it was conducting an informal inquiry with respect to the Company. As part of this inquiry, the Enforcement Division requested the voluntary production of certain documents generally related to the Company’s accounting practices. Subsequent to the initial voluntary production request, the Company received document subpoenas from the Enforcement Division pursuant to a formal order of investigation. The Company has from the outset cooperated with the Enforcement Division’s investigation and intends to continue to do so. While it is reasonably possible that this investigation ultimately could be resolved unfavorably to the Company, the Company is currently unable to estimate the range of possible losses, but they could be material. The Company is involved from time to time in various legal proceedings that arise in the ordinary course of business, including but not limited to commercial disputes, environmental matters, employee related claims, intellectual property disputes and litigation in connection with transactions including acquisitions and divestitures. The Company does not believe that such litigation, claims, and administrative proceedings will have a material adverse impact on the Company’s financial position or results of operations. The Company records a liability when a loss is considered probable, and the amount can be reasonably estimated.

Income Taxes

Income Taxes	6 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	10. INCOME TAXES The provision for income taxes is based on a current estimate of the annual effective tax rate adjusted to reflect the impact of discrete items. The Company’s effective tax rate may fluctuate from quarter to quarter as a result of a variety of factors, including changes in the Company’s assessment of certain tax contingencies, changes in tax law, outcomes of administrative audits, the impact of discrete items, and the mix of earnings. For the three months ended September 30, 2017 and 2016, the Company utilized an effective tax rate of 42.1% and 37.9%, respectively, to calculate its provision for income taxes. These rates differ from the federal statutory rate primarily due to the timing of certain discrete items. For the six months ended September 30, 2017 and 2016, the Company utilized an effective tax rate of 38.7% and 39.8%, respectively, to calculate its provision for income taxes. The effective tax rate for the six months ended September 30, 2017 reflects a favorable impact of a $1.0 million discrete income tax benefit related to the release of tax reserves recorded during the three months ended June 30, 2017.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Sep. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	11. ADS has several programs for stock-based payments to employees and non-employee members of its Board of Directors, including stock options and restricted stock. Equity-classified restricted stock awards are measured based on the grant-date estimated fair value of each award. Liability-classified stock options are re-measured at fair value at each reporting date until the date of settlement, and the pro-rata vested portion of the award is recognized as a liability. The Company determines the fair value of options based on the Black-Scholes option pricing model. The Company accounts for all restricted stock granted to directors as equity-classified awards. The Company recognized stock-based compensation expense in the following line items of the Condensed Consolidated Statements of Operations for the three and six months ended September 30, 2017 and 2016: Three Months Ended September 30, Six Months Ended September 30, 2017 2016 2017 2016 (in thousands) Component of income before income taxes: Cost of goods sold $ 45 $ (100 ) $ 90 $ — Selling expenses 27 (100 ) 52 200 General and administrative expenses 1,738 (2,708 ) 3,358 5,912 Total stock-based compensation expense (benefit) $ 1,810 $ (2,908 ) $ 3,500 $ 6,112 The following table summarizes stock-based compensation expense by award type for the three and six months ended September 30, 2017 and 2016: Three Months Ended September 30, Six Months Ended September 30, 2017 2016 2017 2016 (in thousands) Stock-based compensation expense: Liability-classified Stock Options $ — $ (3,075 ) $ — $ 5,761 Equity-classified Stock Options 1,009 — 2,093 — Restricted Stock 360 167 728 351 Non-Employee Director 441 — 679 — Total stock-based compensation expense (benefit) $ 1,810 $ (2,908 ) $ 3,500 $ 6,112 On April 1, 2017, the Company modified all outstanding awards to remove the provision that permitted employees to satisfy their personal tax liability with the net settlement of shares in excess of minimum tax withholding. Consistent with the ASU in Note 1, employees can now withhold shares with a fair value up to the maximum statutory rate. Accordingly, the Company modified the awards previously accounted for as liability-classified to equity-classified and reclassified the carrying amount of the awards of $13.7 million to Paid-in capital in the Condensed Consolidated Balance Sheet. All stock options have been accounted for as equity-classified awards for the periods subsequent to the modification. Prior to the modification, liability-classified awards were reclassified to additional paid in capital at fair value when stock options were exercised. 2017 Omnibus Plan On May 24, 2017, the Board of Directors approved the 2017 Omnibus Incentive Plan (the “2017 Incentive Plan”) which was approved by the Company’s stockholders on July 17, 2017. The 2017 Incentive Plan provides for the issuance of a maximum of 3.5 million shares of the Company’s common stock for awards made thereunder, which awards may consist of stock options, restricted stock, restricted stock units, stock appreciation rights, phantom stock, cash-based awards, performance awards (which may take the form of performance cash, performance units or performance shares) or other stock-based awards. The 2017 Incentive Plan replaces the 2000 Incentive Stock Option Plan, 2008 Restricted Stock Plan, 2013 Stock Option Plan, and 2014 Non-Employee Director Compensation Plan (the “Prior Plans”) and no further grants will be made under the Prior Plans. During the three and six months ended September 30, 2017, the Company granted 0.1 million shares of restricted stock and 0.2 million nonqualified stock options under the 2017 Incentive Plan. The Company estimates the fair value of stock options using a Black-Scholes option-pricing model. The following table summarizes the assumptions used in estimate the fair value of stock-options during the six months ended September 30, 2017: Six Months Ended September 30, 2017 Common stock price $19.75 - $19.95 Expected stock price volatility 33.4% - 35.6% Risk-free interest rate 1.9% - 2.2% Weighted-average expected option life (years) 5.6 - 6.0 Dividend yield 1.2% - 1.4%

Net Income Per Share and Stockh

Net Income Per Share and Stockholders' Equity	6 Months Ended
	Sep. 30, 2017
Net Income Per Share And Stockholders Equity [Abstract]
Net Income Per Share and Stockholders' Equity	12. The Company is required to apply the two-class method to compute both basic and diluted net income per share. The two-class method is an earnings allocation formula that treats participating securities as having rights to earnings that would otherwise have been available to common stockholders. The following table presents information necessary to calculate net income per share for the periods presented, as well as potentially dilutive securities excluded from the weighted average number of diluted common shares outstanding because their inclusion would have been anti-dilutive: Three Months Ended September 30, Six Months Ended September 30, (In thousands, except per share data) 2017 2016 2017 2016 NET INCOME PER SHARE—BASIC: Net income attributable to ADS $ 17,863 $ 23,734 $ 35,605 $ 42,007 Adjustments for: Accretion of redeemable noncontrolling interest — (380 ) — (742 ) Dividends to redeemable convertible preferred stockholders (470 ) (415 ) (959 ) (840 ) Dividends paid to unvested restricted stockholders (16 ) (24 ) (35 ) (54 ) Net income available to common stockholders and participating securities 17,377 22,915 34,611 40,371 Undistributed income allocated to participating securities (1,397 ) (2,040 ) (2,830 ) (3,563 ) Net income available to common stockholders – Basic $ 15,980 $ 20,875 $ 31,781 $ 36,808 Weighted average number of common shares outstanding – Basic 55,269 54,429 55,286 54,250 Net income per common share – Basic $ 0.29 $ 0.38 $ 0.57 $ 0.68 NET INCOME PER SHARE—DILUTED: Net income available to common stockholders – Diluted $ 15,980 $ 20,875 $ 31,781 $ 36,808 Weighted average number of common shares outstanding – Basic 55,269 54,429 55,286 54,250 Assumed exercise of stock options 624 847 667 865 Weighted average number of common shares outstanding – Diluted 55,893 55,276 55,953 55,115 Net income per common share – Diluted $ 0.29 $ 0.38 $ 0.57 $ 0.67 Potentially dilutive securities excluded as anti-dilutive 6,211 6,264 6,349 6,355 Stockholders’ Equity – During the six months ended September 30, 2017, the Company repurchased 400,000 shares of common stock at a cost of $7.9 million. The Company did not repurchase any shares of common stock during the three months ended September 30, 2017. The repurchases were made under the Board of Directors’ authorization in February 2017 to repurchase up to $50 million of ADS common stock in accordance with applicable securities laws. As of September 30, 2017, approximately $42.1 million of common stock may be repurchased under the authorization. The repurchase program does not obligate the Company to acquire any particular amount of common stock, and may be suspended or terminated at any time at the Company’s discretion.

Business Segments Information

Business Segments Information	6 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Business Segments Information	1 3 . The Company operates its business in two distinct operating and reportable segments based on the markets it serves: “Domestic” and “International.” The Chief Operating Decision Maker (“CODM”) evaluates segment reporting based on Net sales and Segment Adjusted EBITDA. The Company calculates Segment Adjusted EBITDA as net income or loss before interest, income taxes, depreciation and amortization, stock-based compensation expense, non-cash charges and certain other expenses. The following table sets forth reportable segment information with respect to the amount of Net sales contributed by each class of similar products for the periods presented: Three Months Ended September 30, Six Months Ended September 30, 2017 2016 2017 2016 (In thousands) Domestic Pipe $ 253,486 $ 222,026 $ 479,677 $ 445,336 Allied Products 98,398 89,747 191,704 179,200 Total domestic 351,884 311,773 671,381 624,536 International Pipe 38,204 38,910 67,973 73,282 Allied Products 10,961 10,102 20,054 20,543 Total international 49,165 49,012 88,027 93,825 Total Net sales $ 401,049 $ 360,785 $ 759,408 $ 718,361 The following sets forth certain additional financial information attributable to the reportable segments for the periods presented: Domestic International Total (In thousands) For the three months ended September 30, 2017 Net sales $ 351,884 $ 49,165 $ 401,049 Segment Adjusted EBITDA 63,473 3,411 66,884 Interest expense 4,971 84 5,055 Income tax expense 12,185 1,252 13,437 Depreciation and amortization 17,658 2,062 19,720 Equity in net loss of unconsolidated affiliates 437 83 520 Capital expenditures 8,673 413 9,086 For the three months ended September 30, 2016 Net sales $ 311,773 $ 49,012 $ 360,785 Segment Adjusted EBITDA 57,114 8,487 65,601 Interest expense 4,436 110 4,546 Income tax expense 13,824 1,524 15,348 Depreciation and amortization 15,829 2,181 18,010 Equity in net loss of unconsolidated affiliates 44 771 815 Capital expenditures 10,496 705 11,201 Domestic International Total (In thousands) For the six months ended September 30, 2017 Net sales $ 671,381 $ 88,027 $ 759,408 Segment Adjusted EBITDA 118,562 8,667 127,229 Interest expense 9,356 178 9,534 Income tax expense 21,700 1,483 23,183 Depreciation and amortization 33,921 4,020 37,941 Equity in net loss (gain) of unconsolidated affiliates 655 (383 ) 272 Capital expenditures 25,781 1,254 27,035 For the six months ended September 30, 2016 Net sales $ 624,536 $ 93,825 $ 718,361 Segment Adjusted EBITDA 121,754 15,655 137,409 Interest expense 9,109 221 9,330 Income tax expense 25,977 3,565 29,542 Depreciation and amortization 31,507 4,529 36,036 Equity in net loss of unconsolidated affiliates 27 884 911 Capital expenditures 21,991 1,805 23,796 The following sets forth certain additional financial information attributable to the reportable segments as of the periods presented: September 30, 2017 March 31, 2017 (In thousands) Investments in unconsolidated affiliates Domestic $ 1,772 $ 2,427 International 7,399 6,559 Total $ 9,171 $ 8,986 Total identifiable assets Domestic $ 978,999 $ 917,006 International 148,076 134,987 Eliminations (16,966 ) (5,708 ) Total $ 1,110,109 $ 1,046,285 The following reconciles segment adjusted EBITDA to net income for the periods presented: Three Months Ended September 30, 2017 2016 Domestic International Domestic International (In thousands) Reconciliation of Segment Adjusted EBITDA: Net income $ 16,932 $ 1,027 $ 21,049 $ 3,232 Depreciation and amortization 17,658 2,062 15,829 2,181 Interest expense 4,971 84 4,436 110 Income tax expense 12,185 1,252 13,824 1,524 Segment EBITDA 51,746 4,425 55,138 7,047 Derivative fair value adjustments (781 ) — (4,153 ) — Foreign currency transaction (gains) losses — (1,579 ) — 685 Loss on disposal of assets and costs from exit and disposal activities 4,994 127 512 225 Unconsolidated affiliates interest, tax, depreciation and amortization (1) 277 438 272 530 Contingent consideration remeasurement 6 — 33 — Stock-based compensation expense (benefit) 1,810 — (2,908 ) — ESOP deferred compensation 2,595 — 2,368 — Executive retirement benefits 894 — 79 — Transaction costs (2) 890 — — — Restatement-related costs (3) 1,042 — 5,773 — Segment Adjusted EBITDA (4) $ 63,473 $ 3,411 $ 57,114 $ 8,487 Six Months Ended September 30, 2017 2016 Domestic International Domestic International (In thousands) Reconciliation of Segment Adjusted EBITDA: Net income $ 32,082 $ 4,351 $ 36,471 $ 7,231 Depreciation and amortization 33,921 4,020 31,507 4,529 Interest expense 9,356 178 9,109 221 Income tax expense 21,700 1,483 25,977 3,565 Segment EBITDA 97,059 10,032 103,064 15,546 Derivative fair value adjustments (590 ) — (9,060 ) — Foreign currency transaction (gains) — (2,448 ) — (1,077 ) Loss on disposal of assets and costs from exit and disposal activities 8,313 231 782 157 Unconsolidated affiliates interest, tax, depreciation and amortization (1) 571 852 551 1,029 Contingent consideration remeasurement 32 — 57 — Stock-based compensation expense 3,500 — 6,112 — ESOP deferred compensation 5,209 — 5,105 — Executive retirement benefits 909 — 158 — Transaction costs (2) 1,057 — — — Restatement-related costs (3) 2,502 — 14,985 — Segment Adjusted EBITDA (4) $ 118,562 $ 8,667 $ 121,754 $ 15,655 (1) Includes the proportional share of interest, income taxes, depreciation and amortization related to the South American Joint Venture and the Tigre-ADS USA joint venture, which are accounted for under the equity method of accounting. (2) Represents expenses recorded related to legal, accounting and other professional fees incurred in connection with our debt refinancing and potential asset acquisitions and dispositions. (3 ) Represents expenses recorded related to legal, accounting and other professional fees incurred in connection with the restatement of prior period financial statements as reflected in the fiscal year 2015 Form 10-K and fiscal year 2016 Form 10-K/A. Fiscal 2018 expenses relate to the ongoing SEC Enforcement Division’s investigation and related shareholder litigation discussed in “Note 9. Commitments and Contingencies.” (4) A portion of the reduction in International EBITDA is related to transfer pricing. The reduction is fully offset by an increase in Domestic EBITDA.

Subsequent Events

Subsequent Events	6 Months Ended
	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	14. Dividends on Common Stock - During the third quarter of fiscal 2018, the Company declared a quarterly cash dividend of $0.07 per share of common stock. The dividend is payable on December 15, 2017 to stockholders of record at the close of business on December 1, 2017. Treasury Stock Retirement – On November 1, 2017, the Board of Directors resolved to retire 97.7 million shares of Treasury Stock. The retirement of the Treasury Stock shares will result in a reclassification of Treasury Stock to Paid-In-Capital and will not have an impact on Total Stockholders’ Equity.

Background and Summary of Sig24

Background and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation - The Company prepares its Condensed Consolidated Financial Statements in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The Condensed Consolidated Balance Sheet as of March 31, 2017 was derived from audited financial statements included in the Annual Report on Form 10-K for the year ended March 31, 2017 (“Fiscal 2017 Form 10-K”). The accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, of a normal recurring nature, necessary to present fairly its financial position as of September 30, 2017 and the results of operations and cash flows for the three and six months ended September 30, 2017 and 2016. The interim Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements, including the notes thereto, filed in the Company’s Fiscal 2017 Form 10-K.
Principles of Consolidation	Principles of Consolidation - The Condensed Consolidated Financial Statements include the Company, its wholly-owned subsidiaries, its majority-owned subsidiaries and variable interest entities (“VIEs”) of which the Company is the primary beneficiary. The Company uses the equity method of accounting for equity investments where it exercises significant influence but does not hold a controlling financial interest. Such investments are recorded in Other assets in the Condensed Consolidated Balance Sheets and the related equity earnings from these investments are included in Equity in net loss of unconsolidated affiliates in the Condensed Consolidated Statements of Operations. All intercompany balances and transactions have been eliminated in consolidation.
Recent Accounting Guidance	Recent Accounting Guidance Recently Adopted Accounting Guidance Measurement of Inventory In July 2015, the Financial Accounting Standards Board (“FASB”) issued an accounting standards update (“ASU”) which requires entities to measure most inventory at the lower of cost and net realizable value, simplifying current guidance under which an entity must measure inventory at the lower of cost or market. The determination of market value, under current guidance, is considered unnecessarily complex as there are several potential outcomes based on its definition as replacement cost, net realizable value, or net realizable value less an approximate normal profit margin. Whereas net realizable value, under the update, is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. The Company adopted this standard effective April 1, 2017. The new standard did not have a material impact on the Condensed Consolidated Financial Statements. Stock-Based Compensation In March 2016, the FASB issued an ASU which is intended to simplify certain aspects of the accounting for stock-based compensation. The Company adopted the standard on April 1, 2017. The adoption of the ASU did not have a material impact on the historical Consolidated Financial Statements. This update contains changes to the accounting for excess tax benefits, whereby excess tax benefits will be recognized in the income statement rather than in additional paid-in capital on the balance sheet. This update is expected to result in increased volatility to income tax expense in future periods dependent upon the timing of employee exercises of stock options, the price of the Company's common stock and the vesting of restricted stock awards. In addition, excess tax benefits will now be classified as operating cash flows rather than financing cash flows in the Condensed Consolidated Statements of Cash Flows. The amendment also contains potential changes to the accounting for forfeitures, whereby entities can elect to either continue to apply the current requirement to estimate forfeitures when determining compensation expense, or to alternatively reverse the compensation expense of forfeited awards when they occur. The Company will account for forfeitures as they occur, which may result in expense volatility based on the timing of forfeitures. In addition, the update also modified the net-share settlement liability classification exception for statutory income tax withholdings, whereby the new guidance allows an employer with a statutory income tax withholding obligation to withhold shares with a fair value up to the maximum statutory tax rate in the employee’s applicable jurisdiction. The Company included this provision in awards issued in fiscal 2017 and modified previously issued awards on April 1, 2017. See “Note 11. Stock-Based Compensation” for further information on the modification. Recent Accounting Guidance Not Yet Adopted Revenue Recognition - In May 2014, the FASB issued an ASU which amends the guidance for revenue recognition. This standard contains principles that will require an entity to recognize revenue to depict the transfer of goods and services to customers at an amount that an entity expects to be entitled to in exchange for goods or services. The standard sets forth a new revenue recognition model that requires identifying the contract, identifying the performance obligations and recognizing the revenue upon satisfaction of performance obligations. In August 2015, the FASB issued an ASU that deferred the effective date of the new revenue standard for public entities to periods beginning after December 15, 2017, with early adoption permitted but not earlier than the original effective date of periods beginning after December 15, 2016. There have also been various additional accounting standards updates issued by the FASB in 2016 that further amend this new revenue standard. The updated standard permits the use of either the retrospective or cumulative effect transition method. The Company will adopt this standard effective April 1, 2018. To date, the Company has formed an internal stakeholder group to promote information sharing, communicate the new requirements of the standard, and assess the impact of the new revenue recognition model on the Company’s contracts with customers. The Company expects enhanced revenue disclosures as the result of adoption. The Company has not yet selected a transition method and is currently evaluating the impact of this standard on the Condensed Consolidated Financial Statements. Leases - In February 2016, the FASB issued an ASU which amends the guidance for leases. This standard contains principles that will require an entity to recognize most leases on the balance sheet by recording a right-of-use asset and a lease liability, unless the lease is a short-term lease that has an accounting lease term of twelve months or less. The standard also contains other changes to the current lease guidance that may result in changes to how entities determine which contractual arrangements qualify as a lease, the accounting for executory costs such as property taxes and insurance, as well as which lease origination costs will be capitalizable. The new standard also requires expanded quantitative and qualitative disclosures. This standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those years, and early adoption is permitted. The standard requires the use of the modified retrospective transition method, whereby the new guidance will be applied at the beginning of the earliest period presented in the financial statements of the period of adoption. The modified retrospective transition approach includes certain practical expedients that entities may elect to apply in transition. The Company expects to adopt this standard effective April 1, 2019. The Company has implemented a new software solution to improve the process of tracking and accounting for leases under the current and new standards. The Company has not yet determined whether to apply any of the available practical expedients. The Company has begun the process of reviewing contracts under the new standard to determine the impact the new standard will have on the Condensed Consolidated Financial Statements. Measurement of Credit Losses - In June 2016, the FASB issued an ASU which provides amended guidance on the measurement of credit losses on financial instruments, including trade receivables. This standard requires the use of an impairment model referred to as the current expected credit loss model. This standard is effective for fiscal years beginning after December 15, 2019, including interim periods within those years, and early adoption is permitted for fiscal years beginning after December 15, 2018. The Company expects to adopt this standard effective April 1, 2020. The Company is currently evaluating the impact of this standard on the Condensed Consolidated Financial Statements. Cash Flow Classification - In August 2016, the FASB issued an ASU which provides amended guidance on the classification of certain cash receipts and cash payments in the statement of cash flows, including related to debt prepayment or debt extinguishment costs, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance and distributions received from equity method investees. This update is effective for fiscal years beginning after December 15, 2017, including interim periods within those years, and early adoption is permitted. This amended guidance must be applied retrospectively to all periods presented, but may be applied prospectively if retrospective application would be impracticable. The Company expects to adopt this update effective April 1, 2018. The Company is currently evaluating the impact of this update on the Condensed Consolidated Financial Statements. Goodwill Impairment - In January 2017, the FASB issued an ASU which removes the requirement to compare the implied fair value of goodwill with its carrying amount as part of step 2 of the goodwill impairment test. As a result, under the standards update, an entity should perform its annual, or interim, goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount and should recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The amendments are effective for annual periods beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The Company expects to adopt this standard effective April 1, 2020. The Company is currently evaluating the impact of this standard on the Condensed Consolidated Financial Statements. Definition of a Business - In January 2017, the FASB issued an ASU to clarify the definition of a business. The definition of a business affects many areas of accounting including acquisitions, disposals, goodwill, and consolidation. The amendments are intended to help companies and other organizations evaluate whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments provide a more robust framework to use in determining when a set of assets and activities is a business. The amendments are effective for annual periods beginning after December 15, 2017, including interim periods within those periods. The Company will adopt this standard effective April 1, 2018. The new standard will not have a material impact on the Condensed Consolidated Financial Statements. Stock-Based Compensation - In May 2017, the FASB issued an ASU to clarify when modification accounting should be applied for changes to the terms or conditions of share-based payment awards. The amendments clarify that modification accounting guidance should only be applied if there is a change to the value, vesting conditions, or award classification and would not be required if the changes are considered non-substantive. The amendments are effective for annual periods beginning after December 15, 2017, including interim periods within those periods. The Company expects to adopt this standard effective April 1, 2018. The Company is currently evaluating the impact of this update on its Condensed Consolidated Financial Statements. Hedge Accounting – In August 2017, the FASB issued an ASU which expands an entity’s ability to apply hedge accounting for non-financial and financial risk components and provides a simplified approach for fair value hedging of interest rate risk. The standard also refines how entities assess hedge effectiveness. This standard is effective for fiscal years beginning after December 15, 2018, including interim periods within those years, and early adoption is permitted. The Company is currently evaluating the impact of this standard on the Condensed Consolidated Financial Statements. With the exception of the pronouncements described above, there have been no new accounting pronouncements issued or adopted since the filing of the Fiscal 2017 Form 10-K that have significance, or potential significance, to the Condensed Consolidated Financial Statements.

Loss on Disposal of Assets an25

Loss on Disposal of Assets and Costs from Exit and Disposal Activities (Tables)	6 Months Ended
	Sep. 30, 2017
Discontinued Operations And Disposal Groups [Abstract]
Summary of Loss on Disposal of Assets and Costs from Exit and Disposal Activities	The following table summarizes the activity included in Loss on disposal of assets and costs from exit and disposal activities recorded during the three and six months ended September 30, 2017 and 2016: Three Months Ended September 30, Six Months Ended September 30, 2017 2016 2017 2016 (in thousands) Accelerated depreciation $ 1,520 $ — $ 3,561 $ — Plant severance 186 — 827 — Headcount reduction 2,577 — 2,577 — Total restructuring activities $ 4,283 $ — $ 6,965 $ — Loss on other disposals and partial disposals of property, plant and equipment 838 737 1,579 939 Total loss on disposal of assets and costs from exit and disposal activities $ 5,121 $ 737 $ 8,544 $ 939

Receivables and Allowance for26

Receivables and Allowance for Doubtful Accounts (Tables)	6 Months Ended
	Sep. 30, 2017
Accounts Notes Loans And Financing Receivable Gross Allowance And Net [Abstract]
Summary of Receivables	Receivables include trade receivables, refundable income taxes and other miscellaneous receivables, net of an allowance for doubtful accounts. Receivables at September 30, 2017 and March 31, 2017 consisted of the following: September 30, 2017 March 31, 2017 (In thousands) Trade receivables $ 245,642 $ 160,655 Refundable income taxes 3,408 1,468 Other miscellaneous receivables 30,661 6,820 Receivables $ 279,711 $ 168,943

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories as of the periods presented consisted of the following: September 30, 2017 March 31, 2017 (In thousands) Raw materials $ 45,938 $ 52,746 Finished goods 168,345 205,684 Total inventories $ 214,283 $ 258,430

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Carried at Fair Value	The assets and liabilities carried at fair value as of the periods presented were as follows: September 30, 2017 Total Level 1 Level 2 Level 3 (In thousands) Assets: Derivative assets – diesel fuel contracts $ 442 $ — $ 442 $ — Derivative assets – interest rate swap 615 — 615 — Total assets at fair value on a recurring basis $ 1,057 $ — $ 1,057 $ — Liabilities: Derivative liability - diesel fuel contracts $ 2 $ — $ 2 $ — Derivative liability - interest rate swap 428 — 428 — Contingent consideration for acquisitions 735 — — 735 Total liabilities at fair value on a recurring basis $ 1,165 $ — $ 430 $ 735 March 31, 2017 Total Level 1 Level 2 Level 3 (In thousands) Assets: Derivative assets – diesel fuel contracts $ 179 $ — $ 179 $ — Total assets at fair value on a recurring basis $ 179 $ — $ 179 $ — Liabilities: Derivative liability - diesel fuel contracts $ 142 $ — $ 142 $ — Contingent consideration for acquisitions 1,348 — — 1,348 Total liabilities at fair value on a recurring basis $ 1,490 $ — $ 142 $ 1,348
Summary of Changes in Fair Value of Recurring Fair Value Measurements Using Unobservable Inputs	Changes in the fair value of recurring fair value measurements using significant unobservable inputs (Level 3) for the periods presented were as follows: Three Months Ended September 30, Six Months Ended September 30, 2017 2016 2017 2016 (In thousands) Balance at the beginning of the period $ 858 $ 2,199 $ 1,348 $ 2,858 Change in fair value 6 31 32 57 Payments of contingent consideration liability (129 ) (233 ) (645 ) (918 ) Balance at the end of the period $ 735 $ 1,997 $ 735 $ 1,997

Debt (Tables)

Debt (Tables)	6 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt as of the periods presented consisted of the following: September 30, 2017 March 31, 2017 (In thousands) Secured Bank Term Loans: Revolving Credit Facility — ADS $ 258,100 $ 194,300 Revolving Credit Facility — ADS Mexicana — 1,500 Term Note — 72,500 Senior Notes payable 125,000 75,000 Industrial revenue bonds 1,395 1,845 Equipment financing 3,782 4,216 ADS Mexicana Scotia bank revolving credit facility — 1,000 Total 388,277 350,361 Unamortized debt issuance costs (3,412 ) (1,723 ) Current maturities (26,818 ) (37,789 ) Long-term debt obligation $ 358,047 $ 310,849
Maturities of Long-term Debt (Excluding Interest and Deferred Financing Costs)	Maturities of long-term debt (excluding interest and deferred financing costs) as of September 30, 2017 are summarized below: Twelve Months Ended September 30, (Amounts in thousands) 2018 2019 2020 2021 2022 Thereafter Total Principal maturities $ 26,818 $ 26,397 $ 947 $ 931 $ 258,184 $ 75,000 $ 388,277

Derivative Transactions (Tables

Derivative Transactions (Tables)	6 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
Schedule of Cash Settlements and Net Losses and Net (Gains) on Mark-to-Market Adjustments for Changes in Fair Value of Derivative Contracts	The Company recorded net losses and net (gains) on mark-to-market adjustments for changes in the fair value of derivatives contracts as well as net losses and net (gains) on the settlement of derivative contracts as follows: Three Months Ended September 30, Six Months Ended September 30, 2017 2016 2017 2016 (in thousands) Propylene swaps $ — $ (3,334 ) $ — $ (6,647 ) Diesel fuel contracts (678 ) (689 ) (402 ) (2,161 ) Interest rate swaps (103 ) (130 ) (188 ) (252 ) Total net unrealized mark-to-market (gains) $ (781 ) $ (4,153 ) $ (590 ) $ (9,060 ) Propylene swaps — 1,611 — 4,683 Diesel fuel contracts (53 ) 679 (1 ) 1,385 Total net realized (gains) losses $ (53 ) $ 2,290 $ (1 ) $ 6,068

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Sep. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Stock-based Compensation Expense	The Company recognized stock-based compensation expense in the following line items of the Condensed Consolidated Statements of Operations for the three and six months ended September 30, 2017 and 2016: Three Months Ended September 30, Six Months Ended September 30, 2017 2016 2017 2016 (in thousands) Component of income before income taxes: Cost of goods sold $ 45 $ (100 ) $ 90 $ — Selling expenses 27 (100 ) 52 200 General and administrative expenses 1,738 (2,708 ) 3,358 5,912 Total stock-based compensation expense (benefit) $ 1,810 $ (2,908 ) $ 3,500 $ 6,112 The following table summarizes stock-based compensation expense by award type for the three and six months ended September 30, 2017 and 2016: Three Months Ended September 30, Six Months Ended September 30, 2017 2016 2017 2016 (in thousands) Stock-based compensation expense: Liability-classified Stock Options $ — $ (3,075 ) $ — $ 5,761 Equity-classified Stock Options 1,009 — 2,093 — Restricted Stock 360 167 728 351 Non-Employee Director 441 — 679 — Total stock-based compensation expense (benefit) $ 1,810 $ (2,908 ) $ 3,500 $ 6,112
Schedule of Estimate Fair Value of Stock-Options Granted	The following table summarizes the assumptions used in estimate the fair value of stock-options during the six months ended September 30, 2017: Six Months Ended September 30, 2017 Common stock price $19.75 - $19.95 Expected stock price volatility 33.4% - 35.6% Risk-free interest rate 1.9% - 2.2% Weighted-average expected option life (years) 5.6 - 6.0 Dividend yield 1.2% - 1.4%

Net Income Per Share and Stoc32

Net Income Per Share and Stockholders' Equity (Tables)	6 Months Ended
	Sep. 30, 2017
Net Income Per Share And Stockholders Equity [Abstract]
Summary of Net Income Per Share	The following table presents information necessary to calculate net income per share for the periods presented, as well as potentially dilutive securities excluded from the weighted average number of diluted common shares outstanding because their inclusion would have been anti-dilutive: Three Months Ended September 30, Six Months Ended September 30, (In thousands, except per share data) 2017 2016 2017 2016 NET INCOME PER SHARE—BASIC: Net income attributable to ADS $ 17,863 $ 23,734 $ 35,605 $ 42,007 Adjustments for: Accretion of redeemable noncontrolling interest — (380 ) — (742 ) Dividends to redeemable convertible preferred stockholders (470 ) (415 ) (959 ) (840 ) Dividends paid to unvested restricted stockholders (16 ) (24 ) (35 ) (54 ) Net income available to common stockholders and participating securities 17,377 22,915 34,611 40,371 Undistributed income allocated to participating securities (1,397 ) (2,040 ) (2,830 ) (3,563 ) Net income available to common stockholders – Basic $ 15,980 $ 20,875 $ 31,781 $ 36,808 Weighted average number of common shares outstanding – Basic 55,269 54,429 55,286 54,250 Net income per common share – Basic $ 0.29 $ 0.38 $ 0.57 $ 0.68 NET INCOME PER SHARE—DILUTED: Net income available to common stockholders – Diluted $ 15,980 $ 20,875 $ 31,781 $ 36,808 Weighted average number of common shares outstanding – Basic 55,269 54,429 55,286 54,250 Assumed exercise of stock options 624 847 667 865 Weighted average number of common shares outstanding – Diluted 55,893 55,276 55,953 55,115 Net income per common share – Diluted $ 0.29 $ 0.38 $ 0.57 $ 0.67 Potentially dilutive securities excluded as anti-dilutive 6,211 6,264 6,349 6,355

Business Segments Information (

Business Segments Information (Tables)	6 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
Schedule of Revenue from Reportable Segments by Product Type	The following table sets forth reportable segment information with respect to the amount of Net sales contributed by each class of similar products for the periods presented: Three Months Ended September 30, Six Months Ended September 30, 2017 2016 2017 2016 (In thousands) Domestic Pipe $ 253,486 $ 222,026 $ 479,677 $ 445,336 Allied Products 98,398 89,747 191,704 179,200 Total domestic 351,884 311,773 671,381 624,536 International Pipe 38,204 38,910 67,973 73,282 Allied Products 10,961 10,102 20,054 20,543 Total international 49,165 49,012 88,027 93,825 Total Net sales $ 401,049 $ 360,785 $ 759,408 $ 718,361
Schedule of Additional Financial Information Attributable to Reportable Segments	The following sets forth certain additional financial information attributable to the reportable segments for the periods presented: Domestic International Total (In thousands) For the three months ended September 30, 2017 Net sales $ 351,884 $ 49,165 $ 401,049 Segment Adjusted EBITDA 63,473 3,411 66,884 Interest expense 4,971 84 5,055 Income tax expense 12,185 1,252 13,437 Depreciation and amortization 17,658 2,062 19,720 Equity in net loss of unconsolidated affiliates 437 83 520 Capital expenditures 8,673 413 9,086 For the three months ended September 30, 2016 Net sales $ 311,773 $ 49,012 $ 360,785 Segment Adjusted EBITDA 57,114 8,487 65,601 Interest expense 4,436 110 4,546 Income tax expense 13,824 1,524 15,348 Depreciation and amortization 15,829 2,181 18,010 Equity in net loss of unconsolidated affiliates 44 771 815 Capital expenditures 10,496 705 11,201 Domestic International Total (In thousands) For the six months ended September 30, 2017 Net sales $ 671,381 $ 88,027 $ 759,408 Segment Adjusted EBITDA 118,562 8,667 127,229 Interest expense 9,356 178 9,534 Income tax expense 21,700 1,483 23,183 Depreciation and amortization 33,921 4,020 37,941 Equity in net loss (gain) of unconsolidated affiliates 655 (383 ) 272 Capital expenditures 25,781 1,254 27,035 For the six months ended September 30, 2016 Net sales $ 624,536 $ 93,825 $ 718,361 Segment Adjusted EBITDA 121,754 15,655 137,409 Interest expense 9,109 221 9,330 Income tax expense 25,977 3,565 29,542 Depreciation and amortization 31,507 4,529 36,036 Equity in net loss of unconsolidated affiliates 27 884 911 Capital expenditures 21,991 1,805 23,796 The following sets forth certain additional financial information attributable to the reportable segments as of the periods presented: September 30, 2017 March 31, 2017 (In thousands) Investments in unconsolidated affiliates Domestic $ 1,772 $ 2,427 International 7,399 6,559 Total $ 9,171 $ 8,986 Total identifiable assets Domestic $ 978,999 $ 917,006 International 148,076 134,987 Eliminations (16,966 ) (5,708 ) Total $ 1,110,109 $ 1,046,285
Schedule of Reconciliation of Segment Adjusted EBITDA to Net Income	The following reconciles segment adjusted EBITDA to net income for the periods presented: Three Months Ended September 30, 2017 2016 Domestic International Domestic International (In thousands) Reconciliation of Segment Adjusted EBITDA: Net income $ 16,932 $ 1,027 $ 21,049 $ 3,232 Depreciation and amortization 17,658 2,062 15,829 2,181 Interest expense 4,971 84 4,436 110 Income tax expense 12,185 1,252 13,824 1,524 Segment EBITDA 51,746 4,425 55,138 7,047 Derivative fair value adjustments (781 ) — (4,153 ) — Foreign currency transaction (gains) losses — (1,579 ) — 685 Loss on disposal of assets and costs from exit and disposal activities 4,994 127 512 225 Unconsolidated affiliates interest, tax, depreciation and amortization (1) 277 438 272 530 Contingent consideration remeasurement 6 — 33 — Stock-based compensation expense (benefit) 1,810 — (2,908 ) — ESOP deferred compensation 2,595 — 2,368 — Executive retirement benefits 894 — 79 — Transaction costs (2) 890 — — — Restatement-related costs (3) 1,042 — 5,773 — Segment Adjusted EBITDA (4) $ 63,473 $ 3,411 $ 57,114 $ 8,487 Six Months Ended September 30, 2017 2016 Domestic International Domestic International (In thousands) Reconciliation of Segment Adjusted EBITDA: Net income $ 32,082 $ 4,351 $ 36,471 $ 7,231 Depreciation and amortization 33,921 4,020 31,507 4,529 Interest expense 9,356 178 9,109 221 Income tax expense 21,700 1,483 25,977 3,565 Segment EBITDA 97,059 10,032 103,064 15,546 Derivative fair value adjustments (590 ) — (9,060 ) — Foreign currency transaction (gains) — (2,448 ) — (1,077 ) Loss on disposal of assets and costs from exit and disposal activities 8,313 231 782 157 Unconsolidated affiliates interest, tax, depreciation and amortization (1) 571 852 551 1,029 Contingent consideration remeasurement 32 — 57 — Stock-based compensation expense 3,500 — 6,112 — ESOP deferred compensation 5,209 — 5,105 — Executive retirement benefits 909 — 158 — Transaction costs (2) 1,057 — — — Restatement-related costs (3) 2,502 — 14,985 — Segment Adjusted EBITDA (4) $ 118,562 $ 8,667 $ 121,754 $ 15,655 (1) Includes the proportional share of interest, income taxes, depreciation and amortization related to the South American Joint Venture and the Tigre-ADS USA joint venture, which are accounted for under the equity method of accounting. (2) Represents expenses recorded related to legal, accounting and other professional fees incurred in connection with our debt refinancing and potential asset acquisitions and dispositions. (3 ) Represents expenses recorded related to legal, accounting and other professional fees incurred in connection with the restatement of prior period financial statements as reflected in the fiscal year 2015 Form 10-K and fiscal year 2016 Form 10-K/A. Fiscal 2018 expenses relate to the ongoing SEC Enforcement Division’s investigation and related shareholder litigation discussed in “Note 9. Commitments and Contingencies.” (4) A portion of the reduction in International EBITDA is related to transfer pricing. The reduction is fully offset by an increase in Domestic EBITDA.

Background and Summary of Sig34

Background and Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	Aug. 01, 2017USD ($)	Sep. 30, 2017USD ($)Segment	Mar. 31, 2017USD ($)
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Goodwill		$ 103,380	$ 100,566
Number of reportable segments | Segment		2
Duraslot, Inc [Member]
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Date of acquisition of business		Aug. 1, 2017
Acquisition of business	$ 2,300
Goodwill	$ 2,100

Loss on Disposal of Assets an35

Loss on Disposal of Assets and Costs from Exit and Disposal Activities - Additional Information (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017USD ($)Facility	Sep. 30, 2016USD ($)	Sep. 30, 2017USD ($)Facility	Sep. 30, 2016USD ($)
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Loss on disposal of assets and costs from exit and disposal activities	$ 5,121	$ 737	$ 8,544	$ 939
Number of manufacturing facilities closed | Facility	3		3
Other Accrued Liabilities and Other Liabilities [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Severance liability related to restructuring activities	$ 2,800		$ 2,800

Loss on Disposal of Assets an36

Loss on Disposal of Assets and Costs from Exit and Disposal Activities - Summary of Loss on Disposal of Assets and Costs from Exit and Disposal Activities (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Discontinued Operations And Disposal Groups [Abstract]
Accelerated depreciation	$ 1,520		$ 3,561
Plant severance	186		827
Headcount reduction	2,577		2,577
Total restructuring activities	4,283		6,965
Loss on other disposals and partial disposals of property, plant and equipment	838	$ 737	1,579	$ 939
Total loss on disposal of assets and costs from exit and disposal activities	$ 5,121	$ 737	$ 8,544	$ 939

Receivables and Allowance for37

Receivables and Allowance for Doubtful Accounts - Summary of Receivables (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Accounts Notes And Loans Receivable [Line Items]
Receivables	$ 279,711	$ 168,943
Trade Receivables [Member]
Accounts Notes And Loans Receivable [Line Items]
Receivables	245,642	160,655
Refundable Income Taxes [Member]
Accounts Notes And Loans Receivable [Line Items]
Receivables	3,408	1,468
Other Miscellaneous Receivables [Member]
Accounts Notes And Loans Receivable [Line Items]
Receivables	$ 30,661	$ 6,820

Receivables and Allowance for38

Receivables and Allowance for Doubtful Accounts - Additional Information (Detail) - Other Miscellaneous Receivables [Member]	Sep. 30, 2017USD ($)
Other Accrued Liabilities [Member]
Accounts Notes And Loans Receivable [Line Items]
Insurance recoverable	$ 12,000
Discontinuance of Cash Surrender Value [Member]
Accounts Notes And Loans Receivable [Line Items]
Insurance recoverable	$ 13,000

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 45,938	$ 52,746
Finished goods	168,345	205,684
Total inventories	$ 214,283	$ 258,430

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($)	Sep. 30, 2017	Mar. 31, 2017
Inventory Disclosure [Abstract]
Work-in-process inventories	$ 0	$ 0

Fair Value Measurement - Summar

Fair Value Measurement - Summary of Assets and Liabilities Carried at Fair Value (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value on a recurring basis	$ 1,057	$ 179
Contingent consideration for acquisitions	735	1,348
Total liabilities at fair value on a recurring basis	1,165	1,490
Total assets at fair value on a recurring basis	1,057	179
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value on a recurring basis	1,057	179
Total liabilities at fair value on a recurring basis	430	142
Total assets at fair value on a recurring basis	1,057	179
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration for acquisitions	735	1,348
Total liabilities at fair value on a recurring basis	735	1,348
Diesel Fuel Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	442	179
Derivative liability	2	142
Diesel Fuel Contracts [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	442	179
Derivative liability	2	$ 142
Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	615
Derivative liability	428
Interest Rate Swap [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	615
Derivative liability	$ 428

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Detail) - USD ($)	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Mar. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets and liabilities, additional transfers	$ 0	$ 0
Senior Notes Payable [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	125,000,000		$ 75,000,000
Senior notes, fair value	$ 124,900,000		$ 75,900,000

Fair Value Measurement - Summ43

Fair Value Measurement - Summary of Changes in Fair Value of Recurring Fair Value Measurements Using Unobservable Inputs (Detail) - Level 3 [Member] - Contingent Consideration [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance beginning	$ 858	$ 2,199	$ 1,348	$ 2,858
Change in fair value	6	31	32	57
Payments of contingent consideration liability	(129)	(233)	(645)	(918)
Balance ending	$ 735	$ 1,997	$ 735	$ 1,997

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Mar. 31, 2017
South American Joint Venture [Member]
Related Party Transaction [Line Items]
Percentage of debt guarantee			50.00%
Maximum potential payment under guarantee	$ 11,000,000		$ 11,000,000
Maximum borrowings permitted under credit facility	22,000,000		$ 22,000,000
Debt, expiration date			Dec. 31, 2020
Outstanding letters of credit	15,400,000		$ 15,400,000		$ 16,000,000
Sales with related parties	200,000	$ 300,000	800,000	$ 500,000
Sale with joint ventures	100,000	$ 200,000	200,000	$ 500,000
South American Joint Venture [Member] | US Dollar Denominated Loans [Member]
Related Party Transaction [Line Items]
Outstanding letters of credit	$ 0		$ 0
South American Joint Venture [Member] | Chilean Peso Denominated Loans [Member]
Related Party Transaction [Line Items]
Weighted average interest rate	5.80%		5.80%
BaySaver [Member]
Related Party Transaction [Line Items]
Company's ownership percentage	65.00%		65.00%
Tigre-ADS USA [Member]
Related Party Transaction [Line Items]
Company's ownership percentage	49.00%	49.00%	49.00%	49.00%
Percentage of debt guarantee			49.00%
Maximum potential payment under guarantee	$ 4,400,000		$ 4,400,000
Debt, expiration date			Aug. 2, 2018
Outstanding letters of credit	$ 9,000,000		$ 9,000,000		9,000,000
Weighted average interest rate	3.25%		3.25%
Purchases from related party	$ 500,000	$ 500,000	$ 1,100,000	$ 900,000
Pipe Sales Joint Venture Agreement [Member]
Related Party Transaction [Line Items]
Proceeds from sales	0	$ 0	0	$ 0
Outstanding receivables from related party	$ 100,000		$ 100,000		$ 200,000
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Related Party Transaction [Line Items]
Company's ownership percentage	51.00%	51.00%	51.00%	51.00%
Guarantee percentage on credit facility			100.00%
Maximum potential guarantee payments	$ 12,000,000		$ 12,000,000
Guarantee description			The Company is the guarantor of 100% of a second credit facility for ADS Mexicana
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Cash payments for consulting services related to the operations of the business	$ 100,000	$ 100,000	$ 100,000	$ 100,000

Debt - Long-Term Debt (Detail)

Debt - Long-Term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Debt Instrument [Line Items]
Total	$ 388,277	$ 350,361
Unamortized debt issuance costs	(3,412)	(1,723)
Current maturities	(26,818)	(37,789)
Long-term debt obligation	358,047	310,849
Equipment Financing [Member]
Debt Instrument [Line Items]
Revolving credit facility	3,782	4,216
ADS [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Revolving credit facility	258,100	194,300
ADS Mexicana [Member]
Debt Instrument [Line Items]
Revolving credit facility		1,500
ADS Mexicana [Member] | Scotia Bank Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Revolving credit facility		1,000
Term Note [Member]
Debt Instrument [Line Items]
Term Note		72,500
Senior Notes Payable [Member]
Debt Instrument [Line Items]
Senior notes	125,000	75,000
Industrial Revenue Bonds [Member]
Debt Instrument [Line Items]
Industrial revenue bonds	$ 1,395	$ 1,845

Debt (Master Loan and Security

Debt (Master Loan and Security Agreement) - Additional Information (Detail) - USD ($)	12 Months Ended
	Mar. 31, 2017	Jun. 30, 2016
Security Agreement for Equipment Financing [Member] | Maximum [Member]
Debt Instrument [Line Items]
Intercompany loans outstanding		$ 4,500,000
Equipment Notes [Member]
Debt Instrument [Line Items]
Equipment notes	$ 4,600,000
Weighted average fixed interest rate	2.72%
Aggregate loan amount	$ 4,200,000
Amortization period of the principal amount	5 years

Debt (Events Related to the Sec

Debt (Events Related to the Secured Bank Term Loans) - Additional Information (Detail) - Interest Rate Swaps [Member] - LIBOR [Member]	Jun. 28, 2017USD ($)
Debt Instrument [Line Items]
Description of variable rate basis	30-Day LIBOR
Notional amount	$ 100,000,000
Fixed rate of interest	1.8195%
Maturity period	5 years

Debt (Events Related to the Sen

Debt (Events Related to the Senior Notes) - Additional Information (Detail) - Shelf Notes [Member] - USD ($)	Jun. 28, 2017	Sep. 30, 2017
Debt Instrument [Line Items]
Principal amount	$ 75,000,000
Fixed rate of interest	3.53%
Maturity period	7 years
Debt instrument leverage fee		The rate is subject to an additional 100 basis point excess leverage fee if the calculated leverage ratio exceeds 3 to 1 at the end of a fiscal quarter.
Excess leverage fee	1.00%
Minimum [Member]
Debt Instrument [Line Items]
Calculated leverage ratio for additional fee	3.00%

Debt (Secured Bank Term Loans)

Debt (Secured Bank Term Loans) - Additional Information (Detail)	Jun. 22, 2017USD ($)	Sep. 30, 2017Covenant
Debt Instrument [Line Items]
Number of financial convenants | Covenant		2
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowings permitted under credit facility	$ 550,000,000
Line of credit facility, Increase	$ 150,000,000
Weighted average interest rate		3.21%
Credit agreement expiration date		Jun. 22, 2022
Secured Bank Term Loans [Member]
Debt Instrument [Line Items]
Number of financial convenants | Covenant		2
Debt instrument, description		The Credit Agreement Leverage Ratio generally requires that at the end of any fiscal quarter, for the four fiscal quarters then ended, the Company will not permit the ratio of its total consolidated indebtedness to the Company’s Consolidated EBITDA (as defined in the Credit Agreement) to be greater than 4.00 to 1.00 (or 4.25 to 1.00 as of the date of any acquisitions permitted under the Credit Agreement for which the aggregate consideration is $100.0 million or greater).
Secured Bank Term Loans [Member] | Minimum [Member]
Debt Instrument [Line Items]
Ratio of indebtedness	0.0400
Secured Bank Term Loans [Member] | Maximum [Member]
Debt Instrument [Line Items]
Ratio of indebtedness	0.0425
Aggregate consideration	$ 100,000,000
Ratio of EBITDA to Interest expense payable	0.0300

Debt (Senior Notes) - Additiona

Debt (Senior Notes) - Additional Information (Detail)	Jun. 22, 2017USD ($)	Sep. 30, 2017Covenant
Debt Instrument [Line Items]
Number of financial convenants | Covenant		2
Secured Senior Notes [Member]
Debt Instrument [Line Items]
Senior notes	$ 175,000,000
Debt instrument, description		The Private Self Agreement Leverage Ratio generally requires that at the end of any fiscal quarter, for the four fiscal quarters then ended, the Company will not permit the ratio of its total consolidated indebtedness to the Company’s Consolidated EBITDA (as defined in the Private Shelf Agreement) to be greater than 4.00 to 1.00 (or 4.25 to 1.00 as of the date of any acquisitions permitted under the Private Self Agreement for which the aggregate consideration is $100.0 million or greater).
Secured Senior Notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Maturity period	10 years
Ratio of indebtedness	0.0400
Secured Senior Notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Ratio of indebtedness	0.0425
Aggregate consideration	$ 100,000,000
Ratio of EBITDA to Interest expense payable	0.0300

Debt - Maturities of Long-term

Debt - Maturities of Long-term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Debt Disclosure [Abstract]
2,018	$ 26,818
2,019	26,397
2,020	947
2,021	931
2,022	258,184
Thereafter	75,000
Total	$ 388,277	$ 350,361

Derivative Transactions - Sched

Derivative Transactions - Schedule of Cash Settlements and Net Losses and Net (Gains) on Mark-to-Market Adjustments for Changes in Fair Value of Derivative Contracts (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivatives, Fair Value [Line Items]
Total net unrealized mark-to-market (gains)	$ (781)	$ (4,153)	$ (590)	$ (9,060)
Total net realized (gains) losses	(53)	2,290	(1)	6,068
Propylene Swaps [Member]
Derivatives, Fair Value [Line Items]
Total net unrealized mark-to-market (gains)		(3,334)		(6,647)
Total net realized (gains) losses		1,611		4,683
Diesel Fuel Contracts [Member]
Derivatives, Fair Value [Line Items]
Total net unrealized mark-to-market (gains)	(678)	(689)	(402)	(2,161)
Total net realized (gains) losses	(53)	679	(1)	1,385
Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Total net unrealized mark-to-market (gains)	$ (103)	$ (130)	$ (188)	$ (252)

Derivative Transactions - Addit

Derivative Transactions - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivatives, Fair Value [Line Items]
Other non-operating income (expense)	$ 2,539	$ 1,734	$ 3,493	$ 4,771
Gain On Derivative Instruments And Other Income, Net [Member] | Derivatives Contracts [Member]
Derivatives, Fair Value [Line Items]
Other non-operating income (expense)	$ 1,700	$ (100)	$ 2,900	$ 1,800

Commitments and Contingencies (

Commitments and Contingencies (Purchase Commitments) - Additional Information (Detail) - Inventory [Member] $ in Millions	6 Months Ended
	Sep. 30, 2017USD ($)
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Purchase contracts period range, start	1 month
Purchase contracts period range, end	12 months
Total purchase commitment	$ 6

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Effective income tax rate	42.10%	37.90%	38.70%	39.80%
Discrete income tax benefit			$ 1

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense (benefit)	$ 1,810	$ (2,908)	$ 3,500	$ 6,112
Non-Employee Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense (benefit)	441		679
Liability-Classified Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense (benefit)		(3,075)		5,761
Equity-Classified Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense (benefit)	1,009		2,093
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense (benefit)	360	167	728	351
Cost of Goods Sold [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense (benefit)	45	(100)	90
Selling Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense (benefit)	27	(100)	52	200
General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense (benefit)	$ 1,738	$ (2,708)	$ 3,358	$ 5,912

Stock-Based Compensation (Stock

Stock-Based Compensation (Stock Options) - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Apr. 01, 2017	Mar. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Paid-in capital	$ 778,548	$ 13,700	$ 755,787

Stock-Based Compensation (2017

Stock-Based Compensation (2017 Omnibus Plan) - Additional Information (Detail) - 2017 Omnibus Plan [Member] - shares	3 Months Ended	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	May 24, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of restricted stock granted	100,000	100,000
Number of nonqualified stock options granted	200,000	200,000
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock approved for issuance			3,500,000

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Estimate Fair Value of Stock-Options Granted (Detail)	6 Months Ended
	Sep. 30, 2017$ / shares
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Expected stock price volatility, minimum	33.40%
Expected stock price volatility, maximum	35.60%
Risk-free interest rate, minimum	1.90%
Risk-free interest rate, maximum	2.20%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Common stock price	$ 19.75
Weighted-average expected option life (years)	5 years 7 months 6 days
Dividend yield	1.20%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Common stock price	$ 19.95
Weighted-average expected option life (years)	6 years
Dividend yield	1.40%

Net Income Per Share and Stoc60

Net Income Per Share and Stockholders' Equity - Summary of Net Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
NET INCOME PER SHARE—BASIC:
Net income attributable to ADS	$ 17,863	$ 23,734	$ 35,605	$ 42,007
Accretion of redeemable noncontrolling interest		(380)		(742)
Dividends to redeemable convertible preferred stockholders	(470)	(415)	(959)	(840)
Dividends paid to unvested restricted stockholders	(16)	(24)	(35)	(54)
Net income available to common stockholders and participating securities	17,377	22,915	34,611	40,371
Undistributed income allocated to participating securities	(1,397)	(2,040)	(2,830)	(3,563)
Net income available to common stockholders	$ 15,980	$ 20,875	$ 31,781	$ 36,808
Weighted average number of common shares outstanding – Basic	55,269	54,429	55,286	54,250
Net income per common share – Basic	$ 0.29	$ 0.38	$ 0.57	$ 0.68
NET INCOME PER SHARE—DILUTED:
Net income available to common stockholders – Diluted	$ 15,980	$ 20,875	$ 31,781	$ 36,808
Weighted average number of common shares outstanding – Basic	55,269	54,429	55,286	54,250
Assumed exercise of stock options	624	847	667	865
Weighted average number of common shares outstanding – Diluted	55,893	55,276	55,953	55,115
Net income per common share – Diluted	$ 0.29	$ 0.38	$ 0.57	$ 0.67
Potentially dilutive securities excluded as anti-dilutive	6,211	6,264	6,349	6,355

Net Income Per Share and Stoc61

Net Income Per Share and Stockholders' Equity - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Feb. 28, 2017
Equity Class Of Treasury Stock [Line Items]
Repurchases of common stock		$ 7,947
Stock repurchase program amount authorized			$ 50,000
Common Stock [Member]
Equity Class Of Treasury Stock [Line Items]
Common stock repurchases, Shares	0	400,000
Repurchases of common stock		$ 7,900
Stock repurchase program amount authorized	$ 42,100	$ 42,100

Business Segments Information -

Business Segments Information - Additional Information (Detail)	6 Months Ended
	Sep. 30, 2017Segment
Segment Reporting [Abstract]
Number of reportable segments	2
Number of operating segments	2

Business Segments Information63

Business Segments Information - Schedule of Revenue from Reportable Segments by Product Type (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Total Net sales	$ 401,049	$ 360,785	$ 759,408	$ 718,361
Domestic [Member]
Segment Reporting Information [Line Items]
Total Net sales	351,884	311,773	671,381	624,536
Domestic [Member] | Pipe [Member]
Segment Reporting Information [Line Items]
Total Net sales	253,486	222,026	479,677	445,336
Domestic [Member] | Allied Products [Member]
Segment Reporting Information [Line Items]
Total Net sales	98,398	89,747	191,704	179,200
International Segment [Member]
Segment Reporting Information [Line Items]
Total Net sales	49,165	49,012	88,027	93,825
International Segment [Member] | Pipe [Member]
Segment Reporting Information [Line Items]
Total Net sales	38,204	38,910	67,973	73,282
International Segment [Member] | Allied Products [Member]
Segment Reporting Information [Line Items]
Total Net sales	$ 10,961	$ 10,102	$ 20,054	$ 20,543

Business Segments Information64

Business Segments Information - Schedule of Additional Financial Information Attributable to Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Mar. 31, 2017
Segment Reporting Information [Line Items]
Net sales	$ 401,049	$ 360,785	$ 759,408	$ 718,361
Segment Adjusted EBITDA	66,884	65,601	127,229	137,409
Interest expense	5,055	4,546	9,534	9,330
Income tax expense	13,437	15,348	23,183	29,542
Depreciation and amortization	19,720	18,010	37,941	36,036
Equity in net loss (gain) of unconsolidated affiliates	520	815	272	911
Capital expenditures	9,086	11,201	27,035	23,796
Investments in unconsolidated affiliates	9,171		9,171		$ 8,986
Total identifiable assets	1,110,109		1,110,109		1,046,285
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Total identifiable assets	(16,966)		(16,966)		(5,708)
Domestic [Member]
Segment Reporting Information [Line Items]
Net sales	351,884	311,773	671,381	624,536
Segment Adjusted EBITDA	63,473	57,114	118,562	121,754
Interest expense	4,971	4,436	9,356	9,109
Income tax expense	12,185	13,824	21,700	25,977
Depreciation and amortization	17,658	15,829	33,921	31,507
Equity in net loss (gain) of unconsolidated affiliates	437	44	655	27
Capital expenditures	8,673	10,496	25,781	21,991
Investments in unconsolidated affiliates	1,772		1,772		2,427
Total identifiable assets	978,999		978,999		917,006
International Segment [Member]
Segment Reporting Information [Line Items]
Net sales	49,165	49,012	88,027	93,825
Segment Adjusted EBITDA	3,411	8,487	8,667	15,655
Interest expense	84	110	178	221
Income tax expense	1,252	1,524	1,483	3,565
Depreciation and amortization	2,062	2,181	4,020	4,529
Equity in net loss (gain) of unconsolidated affiliates	83	771	(383)	884
Capital expenditures	413	$ 705	1,254	$ 1,805
Investments in unconsolidated affiliates	7,399		7,399		6,559
Total identifiable assets	$ 148,076		$ 148,076		$ 134,987

Business Segments Information65

Business Segments Information - Schedule of Reconciliation of Segment Adjusted EBITDA to Net Income (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net income	$ 17,863	$ 23,734	$ 35,605	$ 42,007
Interest expense	5,055	4,546	9,534	9,330
Income tax expense	13,437	15,348	23,183	29,542
Fair market value adjustments to derivatives	(781)	(4,153)	(590)	(9,060)
Loss on disposal of assets and costs from exit and disposal activities	5,121	737	8,544	939
Stock-based compensation expense (benefit)	1,810	(2,908)	3,500	6,112
Domestic [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net income	16,932	21,049	32,082	36,471
Depreciation and amortization	17,658	15,829	33,921	31,507
Interest expense	4,971	4,436	9,356	9,109
Income tax expense	12,185	13,824	21,700	25,977
Segment EBITDA	51,746	55,138	97,059	103,064
Fair market value adjustments to derivatives	(781)	(4,153)	(590)	(9,060)
Loss on disposal of assets and costs from exit and disposal activities	4,994	512	8,313	782
Unconsolidated affiliates interest, tax, depreciation and amortization	277	272	571	551
Contingent consideration remeasurement	6	33	32	57
Stock-based compensation expense (benefit)	1,810	(2,908)	3,500	6,112
ESOP deferred compensation	2,595	2,368	5,209	5,105
Executive retirement benefits	894	79	909	158
Transaction costs	890		1,057
Restatement-related costs	1,042	5,773	2,502	14,985
Segment Adjusted EBITDA	63,473	57,114	118,562	121,754
International Segment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net income	1,027	3,232	4,351	7,231
Depreciation and amortization	2,062	2,181	4,020	4,529
Interest expense	84	110	178	221
Income tax expense	1,252	1,524	1,483	3,565
Segment EBITDA	4,425	7,047	10,032	15,546
Foreign currency transaction (gains) losses	(1,579)	685	(2,448)	(1,077)
Loss on disposal of assets and costs from exit and disposal activities	127	225	231	157
Unconsolidated affiliates interest, tax, depreciation and amortization	438	530	852	1,029
Segment Adjusted EBITDA	$ 3,411	$ 8,487	$ 8,667	$ 15,655

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - $ / shares shares in Millions	Nov. 01, 2017	Sep. 30, 2017
Third Quarter [Member]
Subsequent Event [Line Items]
Dividend payable date		Dec. 15, 2017
Dividend payable, date of record		Dec. 1, 2017
Common Stock [Member]
Subsequent Event [Line Items]
Cash dividend declared		$ 0.07
Common Stock [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Treasury stock retired	97.7