Advanced Drainage Systems (WMS) 10-Q 9 Aug 18 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2018	Jul. 31, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,019
Document Fiscal Period Focus	Q1
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		56,929,194

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2018	Mar. 31, 2018
Current assets:
Cash	$ 18,394	$ 17,587
Receivables (less allowance for doubtful accounts of $6,968 and $6,826, respectively)	228,905	171,961
Inventories	261,721	263,792
Other current assets	8,740	5,113
Total current assets	517,760	458,453
Property, plant and equipment, net	391,710	399,381
Other assets:
Goodwill	102,792	103,017
Intangible assets, net	42,486	44,437
Other assets	36,158	37,954
Total assets	1,090,906	1,043,242
Current liabilities:
Current maturities of debt obligations	26,623	26,848
Current maturities of capital lease obligations	21,787	22,007
Accounts payable	102,884	105,521
Other accrued liabilities	66,037	60,560
Accrued income taxes	16,090	6,307
Total current liabilities	233,421	221,243
Long-term debt obligations (less unamortized debt issuance costs of $2,837 and $3,028, respectively)	278,561	270,900
Long-term capital lease obligations	57,388	59,963
Deferred tax liabilities	34,008	32,304
Other liabilities	22,950	25,023
Total liabilities	626,328	609,433
Commitments and contingencies (see Note 10)
Mezzanine equity:
Redeemable convertible preferred stock: $0.01 par value; 47,070 shares authorized; 44,170 shares issued; 22,987 and 23,300 shares outstanding, respectively	287,337	291,247
Deferred compensation – unearned ESOP shares	(187,772)	(190,168)
Redeemable noncontrolling interest in subsidiaries	8,474	8,471
Total mezzanine equity	108,039	109,550
Stockholders’ equity:
Common stock; $0.01 par value: 1,000,000 shares authorized; 57,366 shares issued; 56,925 and 56,476 shares outstanding, respectively	11,431	11,426
Paid-in capital	375,215	364,908
Common stock in treasury, at cost	(9,033)	(8,277)
Accumulated other comprehensive loss	(24,684)	(21,247)
Retained deficit	(11,976)	(39,214)
Total ADS stockholders’ equity	340,953	307,596
Noncontrolling interest in subsidiaries	15,586	16,663
Total stockholders’ equity	356,539	324,259
Total liabilities, mezzanine equity and stockholders’ equity	$ 1,090,906	$ 1,043,242

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2018	Mar. 31, 2018
Allowance for doubtful accounts	$ 6,968	$ 6,826
Unamortized debt issuance costs	$ 2,837	$ 3,028
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	57,366,000	57,366,000
Common stock, shares outstanding	56,925,000	56,476,000
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	22,987,000	23,300,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Net sales	$ 387,847	$ 358,359
Cost of goods sold	288,156	271,620
Gross profit	99,691	86,739
Operating expenses:
Selling	24,165	23,099
General and administrative	21,382	26,676
Loss on disposal of assets and costs from exit and disposal activities	1,104	3,423
Intangible amortization	1,984	2,044
Income from operations	51,056	31,497
Other expense:
Interest expense	3,802	4,479
Derivative gains and other income, net	(814)	(954)
Income before income taxes	48,068	27,972
Income tax expense	14,284	9,746
Equity in net loss (income) of unconsolidated affiliates	133	(248)
Net income	33,651	18,474
Less: net income attributable to noncontrolling interest	1,371	732
Net income attributable to ADS	$ 32,280	$ 17,742
Weighted average common shares outstanding:
Basic	56,594	55,303
Diluted	57,158	56,010
Net income per share:
Basic	$ 0.51	$ 0.29
Diluted	0.51	0.28
Cash dividends declared per share	$ 0.08	$ 0.07

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 33,651	$ 18,474
Currency translation (loss) gain	(4,812)	3,427
Comprehensive income	28,839	21,901
Less: other comprehensive (loss) gain attributable to noncontrolling interest	(1,375)	851
Less: net income attributable to noncontrolling interest	1,371	732
Total comprehensive income attributable to ADS	$ 28,843	$ 20,318

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash Flows from Operating Activities
Net income	$ 33,651	$ 18,474
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	17,827	18,221
Deferred income taxes	1,729	(281)
Loss on disposal of assets and costs from exit and disposal activities	1,104	3,423
ESOP and stock-based compensation	5,580	4,304
Amortization of deferred financing charges	191	353
Fair market value adjustments to derivatives	(625)	191
Equity in net loss (income) of unconsolidated affiliates	133	(248)
Other operating activities	(1,030)	(1,656)
Changes in working capital:
Receivables	(54,910)	(47,469)
Inventories	1,040	(2,445)
Prepaid expenses and other current assets	(3,665)	(2,547)
Accounts payable, accrued expenses, and other liabilities	8,806	(6,857)
Net cash provided by (used in) operating activities	9,831	(16,537)
Cash Flows from Investing Activities
Capital expenditures	(6,874)	(17,949)
Other investing activities	(109)	(254)
Net cash used in investing activities	(6,983)	(18,203)
Cash Flows from Financing Activities
Proceeds from Revolving Credit Facility	101,400	212,950
Payments on Revolving Credit Facility	(93,700)	(155,750)
Payments on Term Loan		(72,500)
Proceeds from Senior Notes		75,000
Debt issuance costs		(2,268)
Payments of notes, mortgages and other debt	(230)	(1,225)
Payments on capital lease obligations	(5,885)	(6,066)
Cash dividends paid	(6,141)	(4,353)
Proceeds from exercise of stock options	3,215	6
Repurchase of common stock		(7,947)
Other financing activities	(257)	(652)
Net cash (used in) provided by financing activities	(1,598)	37,195
Effect of exchange rate changes on cash	(443)	(188)
Net change in cash	807	2,267
Cash at beginning of period	17,587	6,450
Cash at end of period	18,394	8,717
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for income taxes	952	5,899
Cash paid for interest	4,000	4,498
Non-cash operating, investing and financing activities:
Acquisition of property, plant and equipment under capital lease and incurred lease obligations	3,171	9,588
Balance in accounts payable for the acquisition of property, plant and equipment	$ 1,851	$ 2,593

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Mezzanine Equity - USD ($) shares in Thousands, $ in Thousands	Total	Redeemable Non-controlling Interest in Subsidiaries [Member]	Redeemable Convertible Preferred Stock [Member]	Deferred Compensation - Unearned ESOP Shares [Member]	Total Mezzanine Equity [Member]
Beginning Balance, Value at Mar. 31, 2017		$ 8,227	$ 302,814	$ (198,216)	$ 112,825
Beginning Balance, Shares at Mar. 31, 2017			24,225	15,863
Net income		204			204
Redeemable convertible preferred stock dividends	$ (458)
Common stock dividends ($0.07 per share)	(3,895)
Allocation of ESOP shares to participants for compensation	602			$ 2,012	2,012
Allocation of ESOP shares to participants for Compensation, Shares				(161)
Exercise of common stock options	6
Restricted stock awards	594
Reclassification of liability- classified awards	13,714
Equity classified stock-based compensation expense before related tax effects	1,084
ESOP distribution in common stock			$ (4,457)		(4,457)
ESOP distribution in common stock, Shares			(357)
Ending Balance, Value at Jun. 30, 2017		8,431	$ 298,357	$ (196,204)	110,584
Ending Balance, Shares at Jun. 30, 2017			23,868	15,702
Beginning Balance, Value at Mar. 31, 2018	109,550	8,471	$ 291,247	$ (190,168)	109,550
Beginning Balance, Shares at Mar. 31, 2018			23,300	15,219
Net income		338			338
Redeemable convertible preferred stock dividends	(497)
Common stock dividends ($0.07 per share)	(4,545)
Dividend paid to noncontrolling interest holder holder	(735)	(335)			(335)
Allocation of ESOP shares to participants for compensation	1,625			$ 2,396	2,396
Allocation of ESOP shares to participants for Compensation, Shares				(192)
Exercise of common stock options	2,513
Restricted stock awards	735
Equity classified stock-based compensation expense before related tax effects	773
ESOP distribution in common stock			$ (3,910)		(3,910)
ESOP distribution in common stock, Shares			(313)
Ending Balance, Value at Jun. 30, 2018	$ 108,039	$ 8,474	$ 287,337	$ (187,772)	$ 108,039
Ending Balance, Shares at Jun. 30, 2018			22,987	15,027

Condensed Consolidated Stateme8

Condensed Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock [Member]	Paid-In Capital [Member]	Common Stock in Treasury [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Deficit [Member]	Total ADS Stockholders' Equity [Member]	Non-controlling Interest in Subsidiaries [Member]
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		98,222
Net income	18,270					17,742	17,742	528
Other comprehensive income (loss)	3,427				2,576		2,576	851
Redeemable convertible preferred stock dividends	(458)					(458)	(458)
Common stock dividends ($0.07 per share)	(3,895)					(3,895)	(3,895)
Allocation of ESOP shares to participants for compensation	602		602				602
Exercise of common stock options	6		3	$ 3			6
Exercise of common stock options, Shares				(1)
Restricted stock awards	594		447	$ 147			594
Restricted stock awards, Shares				(33)
Reclassification of liability- classified awards	13,714		13,714				13,714
Equity classified stock-based compensation expense before related tax effects	1,084		1,084				1,084
ESOP distribution in common stock	4,457		3,237	$ 1,220			4,457
ESOP distribution in common stock, Shares				(274)
Common stock repurchases	(7,947)	$ (7,900)		$ (7,947)			(7,947)
Common stock repurchases, Shares		400		400
Ending Balance, Value at Jun. 30, 2017	267,464	$ 12,393	774,874	$ (443,561)	(22,239)	(70,289)	251,178	16,286
Ending Balance, Shares at Jun. 30, 2017		153,560		98,314
Beginning Balance, Value at Mar. 31, 2018	324,259	$ 11,426	364,908	$ (8,277)	(21,247)	(39,214)	307,596	16,663
Beginning Balance, Shares at Mar. 31, 2018		56,889		413
Net income	33,313					32,280	32,280	1,033
Other comprehensive income (loss)	(4,812)				(3,437)		(3,437)	(1,375)
Redeemable convertible preferred stock dividends	(497)					(497)	(497)
Common stock dividends ($0.07 per share)	(4,545)					(4,545)	(4,545)
Dividend paid to noncontrolling interest holder holder	(735)							(735)
Allocation of ESOP shares to participants for compensation	1,625		1,625				1,625
Exercise of common stock options	2,513	$ 2	3,215	$ (704)			2,513
Exercise of common stock options, Shares		217		26
Restricted stock awards	735	$ 1	786	$ (52)			735
Restricted stock awards, Shares		19		2
Equity classified stock-based compensation expense before related tax effects	773		773				773
ESOP distribution in common stock	3,910	$ 2	3,908				3,910
ESOP distribution in common stock, Shares		241
Common stock repurchases		$ 0
Common stock repurchases, Shares		0
Ending Balance, Value at Jun. 30, 2018	$ 356,539	$ 11,431	$ 375,215	$ (9,033)	$ (24,684)	$ (11,976)	$ 340,953	$ 15,586
Ending Balance, Shares at Jun. 30, 2018		57,366		441

Condensed Consolidated Stateme9

Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Statement Of Stockholders Equity [Abstract]
Common stock dividend per share	$ 0.08	$ 0.07

Background and Summary of Signi

Background and Summary of Significant Accounting Policies	3 Months Ended
	Jun. 30, 2018
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. 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, 2018 was derived from audited financial statements included in the Annual Report on Form 10-K for the year ended March 31, 2018 (“Fiscal 2018 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 June 30, 2018 and the results of operations and cash flows for the three months ended June 30, 2018. 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 2018 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 (income) 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 Revenue Recognition - In May 2014, the FASB issued an accounting standards update (“ASU”) which amends the guidance for revenue recognition. This amendment 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 amendment 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 additional accounting standards update 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 adopted these standards on April 1, 2018 using the modified retrospective transition method. See “Note 3. Revenue Recognition” for further information on the adoption of the revenue recognition ASU. 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 adopted this update effective April 1, 2018 using the retrospective method. The new standard did not have a material impact 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 adopted this update effective April 1, 2018. The new standard did not have an impact 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 adopted this update effective April 1, 2018. The new standard did not have an 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 adopted this update effective April 1, 2018. The new standard did not have an impact on the Condensed Consolidated Financial Statements. Recent Accounting Guidance Not Yet Adopted 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 is in 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. 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 expects to adopt this standard effective April 1, 2019. 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 2018 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	3 Months Ended
	Jun. 30, 2018
Discontinued Operations And Disposal Groups [Abstract]
Loss on Disposal of Assets and Costs from Exit and Disposal Activities	2. In fiscal 2018, the Company initiated restructuring activities (the “2018 Restructuring Plan”), including closing two underutilized manufacturing facilities, reducing headcount, optimizing product offerings and eliminating nonessential costs, designed to improve the Company’s cost structure. As additional restructuring opportunities may be identified, the Company does not have an estimated completion date or expected total cost estimate for the 2018 Restructuring Plan. The following table summarizes the activity included in Loss on disposal of assets and costs from exit and disposal activities recorded during the three months ended June 30, 2018 and 2017: Three Months Ended June 30, 2018 2017 (in thousands) Accelerated depreciation $ — $ 2,041 Plant severance (35 ) 641 Corporate severance — — Other restructuring activities 31 — Total 2018 Restructuring Plan activities $ (4 ) $ 2,682 Loss on other disposals and partial disposals of property, plant and equipment 1,108 741 Total loss on disposal of assets and costs from exit and disposal activities $ 1,104 $ 3,423 Approximately $2.7 million of the Total 2018 Restructuring Plan activities related to the Domestic reporting segment for the three months ended June 30, 2017, respectively. There were no 2018 Restructuring Plan activities related to the International reporting segment for the three months ended June 30, 2018 and 2017, respectively. A reconciliation of the beginning and ending amounts of restructuring liability related to the 2018 Restructuring Plan at June 30, 2018 and 2017 is as follows: Three Months Ended June 30, 2018 2017 (Amounts in thousands) (In thousands) Balance at the beginning of the period $ 3,901 $ — Expenses 55 — Non-cash expenses (59 ) — Payments (1,074 ) — Balance at the end of the period $ 2,823 $ — As of June 30, 2018 and March 31, 2018, the Company had $0.4 million and $0.5 million of long-term severance liability related to the restructuring activities recorded in Other liabilities in the Condensed Consolidated Balance Sheet.

Revenue Recognition

Revenue Recognition	3 Months Ended
	Jun. 30, 2018
Revenue From Contract With Customer [Abstract]
Revenue Recognition	3. REVENUE RECOGNITION On April 1, 2018, the Company adopted Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (“ASC 606”), and all related amendments using the modified retrospective transition method. The adoption of ASC 606 did not impact the opening retained earnings balance or cause a material shift in the amount or timing of revenue recognition. Results for reporting periods beginning after April 1, 2018 are presented under ASC 606, while prior period amounts were not adjusted and continue to be reported in a consistent manner with historical accounting policies. The Company generates revenue by selling pipe and related water management products primarily to distributors, retailers, buying groups and co-operative buying groups. Products are shipped predominately by the Company’s internal fleet, and the Company does not provide any additional revenue generating services after product delivery. Payment terms and conditions vary by contract. Revenue is recognized at the point in-time obligations under the terms of a contract with a customer are satisfied; generally upon the transfer of control of the promised goods. In substantially all of the Company’s contracts with customers, control is transferred to the customer upon delivery. The Company recognizes revenue in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Revenue is presented in the Condensed Consolidated Statements of Operations net of allowances for returns, rebates, discounts, and taxes collected concurrently with revenue-producing activities. Refer to “Note 13. Business Segments Information” for the Company’s disaggregation of Net sales by reportable segment. The disclosure of Net sales by reportable segment is aligned by geographical region and product type and best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. Significant Judgments - The Company’s performance obligation under contracts with customers is to sell and deliver pipe and related water products. The Company’s contracts with customers may contain multiple performance obligations by promising to deliver multiple products to the customer. For these contracts, the Company accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. The Company’s products are generally sold with a right of return, and the Company may provide credits or incentives, which are accounted for as variable consideration when estimating the amount of revenue to recognize. Variable consideration is estimated at contract inception and updated at the end of each reporting period as additional information becomes available and only to the extent that it is probable that a significant reversal of any incremental revenue will not occur. Contract Balances - The Company recognizes a contract asset representing the Company’s right to recover products upon the receipt of returned products and a contract liability for the customer refund. The adoption of this standard resulted in the Company recording a contract asset for estimated inventory returns. On April 1, 2018, the estimated inventory returns resulted in a $0.6 million decrease in Receivables, net and a $0.6 million increase in Other current assets on the Company’s Consolidated Balance Sheets. The following table presents the balance of the Company’s contract asset and liability as of June 30, 2018 and April 1, 2018: June 30, 2018 April 1, 2018 (In thousands) Contract asset - product returns $ 674 $ 577 Refund liability 1,610 1,468 Practical Expedients and Exemptions - The Company expenses incremental costs to obtain a contract (e.g. sales commissions) when incurred as the amortization period would have been one year or less. These costs are recorded within selling expenses on the Condensed Consolidated Statements of Operations. The Company has elected the accounting policy election permitted by ASC 606 to account for shipping and handling costs as activities to fulfill the promise to transfer the goods when these activities are performed after a customer obtains control of the goods. Revenue will be recognized at the point of shipment. The Company has elected the accounting policy to exclude from the transaction price all sales taxes that are assessed by a governmental authority and that are imposed on and concurrent with a specific revenue-producing transaction and collected by the Company from a customer, for example, sales, use, value added, and some excise taxes. Further, the Company does not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less.

Inventories

Inventories	3 Months Ended
	Jun. 30, 2018
Inventory Disclosure [Abstract]
Inventories	4 . Inventories as of the periods presented consisted of the following: June 30, 2018 March 31, 2018 (In thousands) Raw materials $ 54,591 $ 54,909 Finished goods 207,130 208,883 Total inventories $ 261,721 $ 263,792 There were no work-in-process inventories as of the periods presented.

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Jun. 30, 2018
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: June 30, 2018 Total Level 1 Level 2 Level 3 (In thousands) Assets: Derivative assets – diesel fuel contracts $ 818 $ — $ 818 $ — Interest rate swaps 3,414 — 3,414 — Total assets at fair value on a recurring basis $ 4,232 $ — $ 4,232 $ — Liabilities: Derivative liabilities – diesel fuel contracts $ 326 $ — $ 326 $ — Contingent consideration for acquisitions 460 — — 460 Total liabilities at fair value on a recurring basis $ 786 $ — $ 326 $ 460 March 31, 2018 Total Level 1 Level 2 Level 3 (In thousands) Assets: Derivative assets – diesel fuel contracts $ 596 $ — $ 596 $ — Interest rate swaps 2,801 — 2,801 — Total assets at fair value on a recurring basis $ 3,397 $ — $ 3,397 $ — Liabilities: Derivative liability - diesel fuel contracts $ 116 $ — $ 116 $ — Contingent consideration for acquisitions 578 — — 578 Total liabilities at fair value on a recurring basis $ 694 $ — $ 116 $ 578 For the three months ended June 30, 2018 and 2017, 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 June 30, 2018 2017 (In thousands) Balance at the beginning of the period $ 578 $ 1,348 Change in fair value 2 26 Payments of contingent consideration liability (120 ) (516 ) Balance at the end of the period $ 460 $ 858 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 12. Debt” in the Company’s Fiscal 2018 Form 10-K) were $125.0 million and $121.8 million, respectively, as of June 30, 2018 and $125.0 million and $122.3 million, respectively, at March 31, 2018. 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.

Derivative Transactions

Derivative Transactions	3 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Derivative Transactions	6 . DERIVATIVE TRANSACTIONS The Company uses interest rate swaps, commodity options in the form of collars and swaps, and foreign currency forward contracts to manage its various exposures to interest rate, commodity price fluctuations and foreign currency exchange rate fluctuations. For the interest rate swap executed on June 28, 2017, gains and losses resulting from the difference between the spot rate and applicable base rate is recorded in Interest expense. For collars, commodity swaps and foreign currency forward contracts, 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 June 30, 2018 2017 (in thousands) Diesel fuel option collars $ (12 ) $ 276 Interest rate swaps (613 ) (85 ) Total net unrealized mark-to-market (gains) losses $ (625 ) $ 191 Diesel fuel option collars (308 ) 52 Foreign exchange forward contracts (51 ) — Interest rate swaps (25 ) — Total net realized (gains) losses $ (384 ) $ 52 A summary of the fair value of derivatives is included in “Note 5. Fair Value Measurement.”

Net Income Per Share and Stockh

Net Income Per Share and Stockholders' Equity	3 Months Ended
	Jun. 30, 2018
Net Income Per Share And Stockholders Equity [Abstract]
Stockholders Equity and Earnings Per Share [Text Block]	7. 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 June 30, (In thousands, except per share data) 2018 2017 NET INCOME PER SHARE—BASIC: Net income attributable to ADS $ 32,280 $ 17,742 Adjustments for: Dividends to redeemable convertible preferred stockholders (497 ) (489 ) Dividends paid to unvested restricted stockholders (15 ) (19 ) Net income available to common stockholders and participating securities 31,768 17,234 Undistributed income allocated to participating securities (2,712 ) (1,429 ) Net income available to common stockholders – Basic $ 29,056 $ 15,805 Weighted average number of common shares outstanding – Basic 56,594 55,303 Net income per common share – Basic $ 0.51 $ 0.29 NET INCOME PER SHARE—DILUTED: Net income available to common stockholders – Diluted $ 29,056 $ 15,805 Weighted average number of common shares outstanding – Basic 56,594 55,303 Assumed exercise of stock options 564 707 Weighted average number of common shares outstanding – Diluted 57,158 56,010 Net income per common share – Diluted $ 0.51 $ 0.28 Potentially dilutive securities excluded as anti-dilutive 6,166 6,459 Stockholders’ Equity – During the three months ended June 30, 2017, the Company repurchased 0.4 million 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 June 30, 2018. 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 June 30, 2018, 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.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
Related Party Transactions	8. 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. ADS Mexicana’s Revolving Credit Facility expired on June 22, 2018 and was replaced by an Intercompany Revolving Credit Promissory Note (the “Intercompany Note”) with a borrowing capacity of $12.0 million. The Intercompany Note matures on June 22, 2022. The other joint venture partner indemnifies the Company for 49% of any unpaid borrowing. The interest rates under the Intercompany Note are determined by certain base rates or London Interbank Offered Rate (“LIBOR”) plus an applicable margin based on the Leverage Ratio. As of June 30, 2018 there were no borrowings under the Intercompany Note. 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 owns 50% of the South American Joint Venture. 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 June 30, 2018. 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 June 30, 2018 and March 31, 2018, the outstanding principal balances of the credit facility including letters of credit were $13.4 million and $14.5 million, respectively. As of June 30, 2018, there were no U.S. dollar denominated loans. The weighted average interest rate as of June 30, 2018 was 5.7% 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 $0.6 million and $0.6 million for the three months ended June 30, 2018 and 2017, respectively. ADS pipe sales to the South American Joint Venture were $0.2 million and $0.1 million for the three months ended June 30, 2018 and 2017, 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. Tigre-ADS USA - Tigre-ADS USA was a joint venture established to manufacture and sell PVC fittings for waterworks, plumbing, and HVAC applications primarily in the United States and Canadian markets. In April 2018, the Company and the joint venture partner agreed to exchange the Company’s shares of Tigre-ADS USA for a release from the existing debt guarantees. Following the exchange, the Company no longer has an ownership interest in Tigre-ADS USA. As of June 30, 2018, ADS is the guarantor of 49% of a specific Tigre-ADS USA credit facility. The Company’s maximum potential obligation under this guarantee was $1.2 million as of June 30, 2018. The Company was released from the guarantee of Tigre-ADS USA’s debt on July 12, 2018. ADS purchased $0.5 million and $0.6 million of Tigre-ADS USA manufactured products for use in the production of ADS products during the three months ended June 30, 2018 and 2017.

Debt

Debt	3 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt	9. Long-term debt as of the periods presented consisted of the following: June 30, 2018 March 31, 2018 (In thousands) Secured Bank Term Loans: Revolving Credit Facility — ADS $ 179,200 $ 171,500 Revolving Credit Facility — ADS Mexicana — — Senior Notes payable 125,000 125,000 Industrial revenue bonds 710 940 Equipment financing 3,111 3,336 Total 308,021 300,776 Unamortized debt issuance costs (2,837 ) (3,028 ) Current maturities (26,623 ) (26,848 ) Long-term debt obligation $ 278,561 $ 270,900 Events Related to the Secured Bank Term Loans - On June 22, 2018, the Company’s $12.0 million Revolving Credit Facility – ADS Mexicana matured. At June 22, 2018, there were no borrowings under the Revolving Credit Facility – ADS Mexicana. Fiscal 2019 Amendment to the Secured Bank Term Loans – On July 9, 2018, the Company amended the Second Amended and Restated Credit (the “Credit Agreement”) and the Second Amended and Restated Private Shelf Agreement (the “Private Shelf Agreement”) to amend the definition of Consolidated EBITDA and changed the timing of the quarterly rate adjustments. In addition, the amendment to the Credit Agreement clarified the process of a transition to replace LIBOR which is being phased out.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 30, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	10. 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 June 30, 2018, the Company has agreed to purchase resin over the period July 2018 through December 2018 at a committed purchase cost of $8.9 million. Litigation and Other Proceedings – As previously disclosed in the Company’s Fiscal 2018 Form 10-K, the Company’s historical accounting practices were the subject of an investigation by SEC’s Division of Enforcement (the “Enforcement Division”), which began in August 2015. That matter was resolved on July 10, 2018 via a settlement between the Company and the SEC. Pursuant to the settlement, the Company consented to the entry of an administrative order without admitting or denying the findings therein. The order required the Company to cease and desist from committing or causing any violations and any future violations of certain provisions of the federal securities laws and the rules promulgated thereunder and to pay a civil monetary penalty of $1.0 million, which payment has been made. The Company previously accrued an expense for the penalty amount during Fiscal 2018. 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	3 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	11. INCOME TAXES The Tax Cuts and Jobs Act (the “Tax Act”) was enacted on December 22, 2017. The Tax Act significantly revises the future ongoing U.S. corporate income tax by, among other things, lowering the U.S. corporate income tax rate from 35% to 21%, full expensing on qualified property, eliminates the domestic manufacturing deduction and implements a territorial tax system. The 21% U.S. corporate income tax rate was effective January 1, 2018. The Company has recognized the provisional tax impacts related to revaluation of deferred tax assets and liabilities and deemed repatriated earnings and included these amounts in its financial statements for the year ended March 31, 2018. The ultimate impact may differ from these provisional amounts, possibly materially, due to, among other things, additional analysis, changes in interpretations and assumptions the Company has made, additional regulatory guidance that may be issued, and actions the Company may take as a result of the Tax Act. During the three months ended June 30, 2018, the Company did not make any adjustments to its provisional amounts included in its Consolidated Financial Statements for the year ended March 31, 2018. The accounting is expected to be finalized in conjunction with the filing of the fiscal 2018 U.S. corporate income tax return, no later than the close of third quarter fiscal 2019. The Company’s effective tax rate will vary based on a variety of factors, including overall profitability, the geographical mix of income before taxes and related tax rates in jurisdictions where it operates and other onetime charges, as well as discrete events. For the three months ended June 30, 2018 and 2017, the Company utilized an effective tax rate of 29.7% and 34.8%, respectively, to calculate its provision for income taxes. These rates are higher than the federal statutory rate primarily due to state and local income taxes and the Company’s Employee Stock Ownership Plan (“ESOP”). In addition, the effective tax rate for the three months ended June 30, 2017 differed from the federal statutory rate due to the impact of a $1.0 million discrete income tax benefit related to the release of tax reserves.

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Jun. 30, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	12. 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. 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 months ended June 30, 2018 and 2017: Three Months Ended June 30, 2018 2017 (in thousands) Component of income before income taxes: Cost of goods sold $ 62 $ 45 Selling expenses 36 25 General and administrative expenses 1,461 1,620 Total stock-based compensation expense $ 1,559 $ 1,690 The following table summarizes stock-based compensation expense by award type for the three months ended June 30, 2018 and 2017: Three Months Ended June 30, 2018 2017 (in thousands) Stock-based compensation expense: Equity-classified Stock Options $ 773 $ 1,084 Restricted Stock 543 368 Non-Employee Directors 243 238 Total stock-based compensation expense $ 1,559 $ 1,690 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. During the three months ended June 30, 2018, the Company granted 0.1 million shares of restricted stock. The grant date fair value of the restricted stock was $2.3 million. Performance Units - Options – During the three months ended June 30, 2018, the Company granted 0.2 million nonqualified stock options under the 2017 Incentive Plan. The grant date fair value of the nonqualified stock options was $1.9 million. 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 three months ended June 30, 2018: Three Months Ended June 30, 2018 Common stock price $25.75 Expected stock price volatility 30.5% Risk-free interest rate 2.9% Weighted-average expected option life (years) 6.0 Dividend yield 1.2%

Business Segments Information

Business Segments Information	3 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Business Segments Information	13. 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. Beginning, April 1, 2018, the Company revised its allocation of allowances for returns, rebates, and discounts between Pipe and Allied Products for segment reporting purposes. Prior to April 1, 2018, the Company allocated substantially all returns, rebates, and discounts to Pipe net sales. These changes did not impact the Company’s previously reported consolidated financial results. The prior period segment results and related disclosures have been recast to conform to the current year presentation under the new allocation methodology. 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 June 30, 2018 2017 (In thousands) Domestic Pipe $ 242,026 $ 228,623 Allied Products 100,472 90,874 Total domestic 342,498 319,497 International Pipe 34,448 29,954 Allied Products 10,901 8,908 Total international 45,349 38,862 Total Net sales $ 387,847 $ 358,359 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 June 30, 2018 Net sales $ 342,498 $ 45,349 $ 387,847 Segment Adjusted EBITDA 68,832 6,311 75,143 Interest expense 3,757 45 3,802 Income tax expense 13,257 1,027 14,284 Depreciation and amortization 15,953 1,874 17,827 Equity in net loss of unconsolidated affiliates — 133 133 Capital expenditures 5,881 993 6,874 For the three months ended June 30, 2017 Net sales $ 319,497 $ 38,862 $ 358,359 Segment Adjusted EBITDA 55,089 5,256 60,345 Interest expense 4,385 94 4,479 Income tax expense 9,515 231 9,746 Depreciation and amortization 16,263 1,958 18,221 Equity in net loss (income) of unconsolidated affiliates 218 (466 ) (248 ) Capital expenditures 17,108 841 17,949 The following sets forth certain additional financial information attributable to the reportable segments as of the periods presented: June 30, 2018 March 31, 2018 (In thousands) Investments in unconsolidated affiliates International $ 11,028 $ 12,343 Total $ 11,028 $ 12,343 Total identifiable assets Domestic $ 963,346 $ 904,718 International 145,746 142,822 Eliminations (18,186 ) (4,298 ) Total $ 1,090,906 $ 1,043,242 The following reconciles segment adjusted EBITDA to net income for the periods presented: For the Three Months Ended June 30, 2018 2017 Domestic International Domestic International (In thousands) Reconciliation of Segment Adjusted EBITDA: Net income $ 30,589 $ 3,062 $ 15,150 $ 3,324 Depreciation and amortization 15,953 1,874 16,263 1,958 Interest expense 3,757 45 4,385 94 Income tax expense 13,257 1,027 9,515 231 Segment EBITDA 63,556 6,008 45,313 5,607 Derivative fair value adjustments (12 ) — 191 — Foreign currency transaction gains — (171 ) — (869 ) Loss on disposal of assets and costs from exit and disposal activities 1,009 95 3,319 104 Unconsolidated affiliates interest, tax, depreciation and amortization (a) — 379 294 414 Contingent consideration remeasurement 2 — 26 — Stock-based compensation expense 1,559 — 1,690 — ESOP deferred stock-based compensation 4,021 — 2,614 — Executive retirement (benefit) expense (328 ) — 15 — Restatement-related (benefit) costs (b) (1,231 ) — 1,460 — Transaction costs (c) 256 — 167 — Segment Adjusted EBITDA $ 68,832 $ 6,311 $ 55,089 $ 5,256 (a) Includes the proportional share of interest, income taxes, depreciation and amortization related to the South American Joint Venture and the former Tigre-ADS USA joint venture, which are accounted for under the equity method of accounting. (b) Represents expenses recorded related to legal, accounting and other professional fees incurred in connection with the restatement of the prior period financial statements as reflected in the fiscal year 2015 Form 10-K and fiscal year 2016 Form 10-K/A. The benefit recognized in fiscal 2019 is the result of insurance proceeds received in fiscal 2019. (c) Represents expenses recorded related to legal, accounting and other professional fees incurred in connection with the debt refinancing and asset acquisitions and dispositions.

Subsequent Events

Subsequent Events	3 Months Ended
	Jun. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	14. Dividends on Common Stock - During the second quarter of fiscal 2019, the Company declared a quarterly cash dividend of $0.08 per share of common stock. The dividend is payable on September 14, 2018 to stockholders of record at the close of business on August 31, 2018.

Background and Summary of Sig24

Background and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2018
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, 2018 was derived from audited financial statements included in the Annual Report on Form 10-K for the year ended March 31, 2018 (“Fiscal 2018 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 June 30, 2018 and the results of operations and cash flows for the three months ended June 30, 2018. 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 2018 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 (income) 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 Revenue Recognition - In May 2014, the FASB issued an accounting standards update (“ASU”) which amends the guidance for revenue recognition. This amendment 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 amendment 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 additional accounting standards update 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 adopted these standards on April 1, 2018 using the modified retrospective transition method. See “Note 3. Revenue Recognition” for further information on the adoption of the revenue recognition ASU. 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 adopted this update effective April 1, 2018 using the retrospective method. The new standard did not have a material impact 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 adopted this update effective April 1, 2018. The new standard did not have an impact 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 adopted this update effective April 1, 2018. The new standard did not have an 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 adopted this update effective April 1, 2018. The new standard did not have an impact on the Condensed Consolidated Financial Statements. Recent Accounting Guidance Not Yet Adopted 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 is in 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. 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 expects to adopt this standard effective April 1, 2019. 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 2018 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)	3 Months Ended
	Jun. 30, 2018
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 months ended June 30, 2018 and 2017: Three Months Ended June 30, 2018 2017 (in thousands) Accelerated depreciation $ — $ 2,041 Plant severance (35 ) 641 Corporate severance — — Other restructuring activities 31 — Total 2018 Restructuring Plan activities $ (4 ) $ 2,682 Loss on other disposals and partial disposals of property, plant and equipment 1,108 741 Total loss on disposal of assets and costs from exit and disposal activities $ 1,104 $ 3,423
Schedule of Reconciliation of Restructuring Liability	A reconciliation of the beginning and ending amounts of restructuring liability related to the 2018 Restructuring Plan at June 30, 2018 and 2017 is as follows: Three Months Ended June 30, 2018 2017 (Amounts in thousands) (In thousands) Balance at the beginning of the period $ 3,901 $ — Expenses 55 — Non-cash expenses (59 ) — Payments (1,074 ) — Balance at the end of the period $ 2,823 $ —

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Jun. 30, 2018
Revenue From Contract With Customer [Abstract]
Schedule of Contract Asset and Liability	The following table presents the balance of the Company’s contract asset and liability as of June 30, 2018 and April 1, 2018: June 30, 2018 April 1, 2018 (In thousands) Contract asset - product returns $ 674 $ 577 Refund liability 1,610 1,468

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jun. 30, 2018
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories as of the periods presented consisted of the following: June 30, 2018 March 31, 2018 (In thousands) Raw materials $ 54,591 $ 54,909 Finished goods 207,130 208,883 Total inventories $ 261,721 $ 263,792

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	3 Months Ended
	Jun. 30, 2018
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: June 30, 2018 Total Level 1 Level 2 Level 3 (In thousands) Assets: Derivative assets – diesel fuel contracts $ 818 $ — $ 818 $ — Interest rate swaps 3,414 — 3,414 — Total assets at fair value on a recurring basis $ 4,232 $ — $ 4,232 $ — Liabilities: Derivative liabilities – diesel fuel contracts $ 326 $ — $ 326 $ — Contingent consideration for acquisitions 460 — — 460 Total liabilities at fair value on a recurring basis $ 786 $ — $ 326 $ 460 March 31, 2018 Total Level 1 Level 2 Level 3 (In thousands) Assets: Derivative assets – diesel fuel contracts $ 596 $ — $ 596 $ — Interest rate swaps 2,801 — 2,801 — Total assets at fair value on a recurring basis $ 3,397 $ — $ 3,397 $ — Liabilities: Derivative liability - diesel fuel contracts $ 116 $ — $ 116 $ — Contingent consideration for acquisitions 578 — — 578 Total liabilities at fair value on a recurring basis $ 694 $ — $ 116 $ 578
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 June 30, 2018 2017 (In thousands) Balance at the beginning of the period $ 578 $ 1,348 Change in fair value 2 26 Payments of contingent consideration liability (120 ) (516 ) Balance at the end of the period $ 460 $ 858

Derivative Transactions (Tables

Derivative Transactions (Tables)	3 Months Ended
	Jun. 30, 2018
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 June 30, 2018 2017 (in thousands) Diesel fuel option collars $ (12 ) $ 276 Interest rate swaps (613 ) (85 ) Total net unrealized mark-to-market (gains) losses $ (625 ) $ 191 Diesel fuel option collars (308 ) 52 Foreign exchange forward contracts (51 ) — Interest rate swaps (25 ) — Total net realized (gains) losses $ (384 ) $ 52

Net Income Per Share and Stoc30

Net Income Per Share and Stockholders' Equity (Tables)	3 Months Ended
	Jun. 30, 2018
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 June 30, (In thousands, except per share data) 2018 2017 NET INCOME PER SHARE—BASIC: Net income attributable to ADS $ 32,280 $ 17,742 Adjustments for: Dividends to redeemable convertible preferred stockholders (497 ) (489 ) Dividends paid to unvested restricted stockholders (15 ) (19 ) Net income available to common stockholders and participating securities 31,768 17,234 Undistributed income allocated to participating securities (2,712 ) (1,429 ) Net income available to common stockholders – Basic $ 29,056 $ 15,805 Weighted average number of common shares outstanding – Basic 56,594 55,303 Net income per common share – Basic $ 0.51 $ 0.29 NET INCOME PER SHARE—DILUTED: Net income available to common stockholders – Diluted $ 29,056 $ 15,805 Weighted average number of common shares outstanding – Basic 56,594 55,303 Assumed exercise of stock options 564 707 Weighted average number of common shares outstanding – Diluted 57,158 56,010 Net income per common share – Diluted $ 0.51 $ 0.28 Potentially dilutive securities excluded as anti-dilutive 6,166 6,459

Debt (Tables)

Debt (Tables)	3 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt as of the periods presented consisted of the following: June 30, 2018 March 31, 2018 (In thousands) Secured Bank Term Loans: Revolving Credit Facility — ADS $ 179,200 $ 171,500 Revolving Credit Facility — ADS Mexicana — — Senior Notes payable 125,000 125,000 Industrial revenue bonds 710 940 Equipment financing 3,111 3,336 Total 308,021 300,776 Unamortized debt issuance costs (2,837 ) (3,028 ) Current maturities (26,623 ) (26,848 ) Long-term debt obligation $ 278,561 $ 270,900

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Jun. 30, 2018
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 months ended June 30, 2018 and 2017: Three Months Ended June 30, 2018 2017 (in thousands) Component of income before income taxes: Cost of goods sold $ 62 $ 45 Selling expenses 36 25 General and administrative expenses 1,461 1,620 Total stock-based compensation expense $ 1,559 $ 1,690 The following table summarizes stock-based compensation expense by award type for the three months ended June 30, 2018 and 2017: Three Months Ended June 30, 2018 2017 (in thousands) Stock-based compensation expense: Equity-classified Stock Options $ 773 $ 1,084 Restricted Stock 543 368 Non-Employee Directors 243 238 Total stock-based compensation expense $ 1,559 $ 1,690
Summary of Assumption Used in Estimate Fair Value of Stock Options	The following table summarizes the assumptions used in estimate the fair value of stock-options during the three months ended June 30, 2018: Three Months Ended June 30, 2018 Common stock price $25.75 Expected stock price volatility 30.5% Risk-free interest rate 2.9% Weighted-average expected option life (years) 6.0 Dividend yield 1.2%

Business Segments Information (

Business Segments Information (Tables)	3 Months Ended
	Jun. 30, 2018
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 June 30, 2018 2017 (In thousands) Domestic Pipe $ 242,026 $ 228,623 Allied Products 100,472 90,874 Total domestic 342,498 319,497 International Pipe 34,448 29,954 Allied Products 10,901 8,908 Total international 45,349 38,862 Total Net sales $ 387,847 $ 358,359
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 June 30, 2018 Net sales $ 342,498 $ 45,349 $ 387,847 Segment Adjusted EBITDA 68,832 6,311 75,143 Interest expense 3,757 45 3,802 Income tax expense 13,257 1,027 14,284 Depreciation and amortization 15,953 1,874 17,827 Equity in net loss of unconsolidated affiliates — 133 133 Capital expenditures 5,881 993 6,874 For the three months ended June 30, 2017 Net sales $ 319,497 $ 38,862 $ 358,359 Segment Adjusted EBITDA 55,089 5,256 60,345 Interest expense 4,385 94 4,479 Income tax expense 9,515 231 9,746 Depreciation and amortization 16,263 1,958 18,221 Equity in net loss (income) of unconsolidated affiliates 218 (466 ) (248 ) Capital expenditures 17,108 841 17,949 The following sets forth certain additional financial information attributable to the reportable segments as of the periods presented: June 30, 2018 March 31, 2018 (In thousands) Investments in unconsolidated affiliates International $ 11,028 $ 12,343 Total $ 11,028 $ 12,343 Total identifiable assets Domestic $ 963,346 $ 904,718 International 145,746 142,822 Eliminations (18,186 ) (4,298 ) Total $ 1,090,906 $ 1,043,242
Schedule of Reconciliation of Segment Adjusted EBITDA to Net Income	The following reconciles segment adjusted EBITDA to net income for the periods presented: For the Three Months Ended June 30, 2018 2017 Domestic International Domestic International (In thousands) Reconciliation of Segment Adjusted EBITDA: Net income $ 30,589 $ 3,062 $ 15,150 $ 3,324 Depreciation and amortization 15,953 1,874 16,263 1,958 Interest expense 3,757 45 4,385 94 Income tax expense 13,257 1,027 9,515 231 Segment EBITDA 63,556 6,008 45,313 5,607 Derivative fair value adjustments (12 ) — 191 — Foreign currency transaction gains — (171 ) — (869 ) Loss on disposal of assets and costs from exit and disposal activities 1,009 95 3,319 104 Unconsolidated affiliates interest, tax, depreciation and amortization (a) — 379 294 414 Contingent consideration remeasurement 2 — 26 — Stock-based compensation expense 1,559 — 1,690 — ESOP deferred stock-based compensation 4,021 — 2,614 — Executive retirement (benefit) expense (328 ) — 15 — Restatement-related (benefit) costs (b) (1,231 ) — 1,460 — Transaction costs (c) 256 — 167 — Segment Adjusted EBITDA $ 68,832 $ 6,311 $ 55,089 $ 5,256 (a) Includes the proportional share of interest, income taxes, depreciation and amortization related to the South American Joint Venture and the former Tigre-ADS USA joint venture, which are accounted for under the equity method of accounting. (b) Represents expenses recorded related to legal, accounting and other professional fees incurred in connection with the restatement of the prior period financial statements as reflected in the fiscal year 2015 Form 10-K and fiscal year 2016 Form 10-K/A. The benefit recognized in fiscal 2019 is the result of insurance proceeds received in fiscal 2019. (c) Represents expenses recorded related to legal, accounting and other professional fees incurred in connection with the debt refinancing and asset acquisitions and dispositions.

Background and Summary of Sig34

Background and Summary of Significant Accounting Policies - Additional Information (Detail)	3 Months Ended
	Jun. 30, 2018Segment
Accounting Policies [Abstract]
Number of reportable segments	2

Loss on Disposal of Assets an35

Loss on Disposal of Assets and Costs from Exit and Disposal Activities - Additional Information (Detail)	3 Months Ended
	Jun. 30, 2018USD ($)Facility	Jun. 30, 2017USD ($)	Mar. 31, 2018USD ($)
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Number of manufacturing facilities closed | Facility	2
Restructuring plan activities	$ (4,000)	$ 2,682,000
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 plan	400,000		$ 500,000
2018 Restructuring Plan [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Restructuring plan activities	55,000
Domestic [Member] | 2018 Restructuring Plan [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Restructuring plan activities		2,700,000
International Segment [Member] | 2018 Restructuring Plan [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Restructuring plan activities	$ 0	$ 0

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
	Jun. 30, 2018	Jun. 30, 2017
Discontinued Operations And Disposal Groups [Abstract]
Accelerated depreciation		$ 2,041
Plant severance	$ (35)	641
Other restructuring activities	31
Total 2018 Restructuring Plan activities	(4)	2,682
Loss on other disposals and partial disposals of property, plant and equipment	1,108	741
Total loss on disposal of assets and costs from exit and disposal activities	$ 1,104	$ 3,423

Loss on Disposal of Assets an37

Loss on Disposal of Assets and Costs from Exit and Disposal Activities - Schedule of Reconciliation of Restructuring Liability (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Expenses	$ (4)	$ 2,682
2018 Restructuring Plan [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Balance at the beginning of the period	3,901
Expenses	55
Non-cash expenses	(59)
Payments	(1,074)
Balance at the end of the period	$ 2,823

Revenue Recognition - Additiona

Revenue Recognition - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 30, 2018	Mar. 31, 2018
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Receivables (less allowance for doubtful accounts of $6,968 and $6,826, respectively)	$ 228,905	$ 171,961
Other current assets	$ 8,740	5,113
Difference between Revenue Guidance in Effect before and after Topic 606 [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Receivables (less allowance for doubtful accounts of $6,968 and $6,826, respectively)		600
Other current assets		$ 600

Schedule of Contract Asset and

Schedule of Contract Asset and Liability (Detail) - USD ($) $ in Thousands	Jun. 30, 2018	Mar. 31, 2018
Contract With Customer Asset And Liability [Abstract]
Contract asset - product returns	$ 674	$ 577
Refund liability	$ 1,610	$ 1,468

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2018	Mar. 31, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 54,591	$ 54,909
Finished goods	207,130	208,883
Total inventories	$ 261,721	$ 263,792

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($)	Jun. 30, 2018	Mar. 31, 2018
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	Jun. 30, 2018	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	$ 4,232	$ 3,397
Contingent consideration for acquisitions	460	578
Total liabilities at fair value on a recurring basis	786	694
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	4,232	3,397
Total liabilities at fair value on a recurring basis	326	116
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration for acquisitions	460	578
Total liabilities at fair value on a recurring basis	460	578
Diesel Fuel Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	818	596
Derivative liability	326	116
Diesel Fuel Contracts [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	818	596
Derivative liability	326	116
Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	3,414	2,801
Interest Rate Swaps [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	$ 3,414	$ 2,801

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Detail) - USD ($)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018
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		$ 125,000,000
Senior notes, fair value	$ 121,800,000		$ 122,300,000

Fair Value Measurement - Summ44

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
	Jun. 30, 2018	Jun. 30, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance beginning	$ 578	$ 1,348
Change in fair value	2	26
Payments of contingent consideration liability	(120)	(516)
Balance ending	$ 460	$ 858

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
	Jun. 30, 2018	Jun. 30, 2017
Derivatives, Fair Value [Line Items]
Total net unrealized mark-to-market (gains) losses	$ (625)	$ 191
Total net realized (gains) losses	(384)	52
Diesel Fuel Option Collars [Member]
Derivatives, Fair Value [Line Items]
Total net unrealized mark-to-market (gains) losses	(12)	276
Total net realized (gains) losses	(308)	52
Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Total net unrealized mark-to-market (gains) losses	(613)	$ (85)
Total net realized (gains) losses	(25)
Foreign Exchange Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Total net realized (gains) losses	$ (51)

Net Income Per Share and Stoc46

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
	Jun. 30, 2018	Jun. 30, 2017
NET INCOME PER SHARE—BASIC:
Net income attributable to ADS	$ 32,280	$ 17,742
Dividends to redeemable convertible preferred stockholders	(497)	(489)
Dividends paid to unvested restricted stockholders	(15)	(19)
Net income available to common stockholders and participating securities	31,768	17,234
Undistributed income allocated to participating securities	(2,712)	(1,429)
Net income available to common stockholders – Basic	$ 29,056	$ 15,805
Weighted average number of common shares outstanding – Basic	56,594	55,303
Net income per common share – Basic	$ 0.51	$ 0.29
NET INCOME PER SHARE—DILUTED:
Net income available to common stockholders – Diluted	$ 29,056	$ 15,805
Weighted average number of common shares outstanding – Basic	56,594	55,303
Assumed exercise of stock options	564	707
Weighted average number of common shares outstanding – Diluted	57,158	56,010
Net income per common share – Diluted	$ 0.51	$ 0.28
Potentially dilutive securities excluded as anti-dilutive	6,166	6,459

Net Income Per Share and Stoc47

Net Income Per Share and Stockholders' Equity - Additional Information (Detail) - USD ($) $ in Thousands, shares in Millions	3 Months Ended
	Jun. 30, 2018	Jun. 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	0.4
Repurchases of common stock	$ 0	$ 7,900
Stock repurchase program amount authorized	$ 42,100

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018
South American Joint Venture [Member]
Related Party Transaction [Line Items]
Company's ownership percentage	50.00%
Maximum borrowings permitted under credit facility	$ 22,000,000
Debt, expiration date	Dec. 31, 2020
Percentage of debt guarantee	50.00%
Maximum potential payment under guarantee	$ 11,000,000
Outstanding letters of credit	13,400,000		$ 14,500,000
Sales with related parties	600,000	$ 600,000
Sale with joint ventures	200,000	100,000
South American Joint Venture [Member] | US Dollar Denominated Loans [Member]
Related Party Transaction [Line Items]
Outstanding letters of credit	$ 0
South American Joint Venture [Member] | Chilean Peso Denominated Loans [Member]
Related Party Transaction [Line Items]
Weighted average interest rate	5.70%
BaySaver [Member]
Related Party Transaction [Line Items]
Company's ownership percentage	65.00%
Tigre-ADS USA [Member]
Related Party Transaction [Line Items]
Debt, expiration date	Jul. 12, 2018
Percentage of debt guarantee	49.00%
Maximum potential payment under guarantee	$ 1,200,000
Purchases from related party	500,000	$ 600,000
Corporate Joint Venture
Related Party Transaction [Line Items]
Maximum borrowings permitted under credit facility	$ 12,000
Revolving credit facility maturity date	Jun. 22, 2018
Debt, expiration date	Jun. 22, 2022
Percentage of ownership in joint venture	49.00%
Remaining borrowing capacity	$ 0
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Related Party Transaction [Line Items]
Company's ownership percentage	51.00%

Debt - Long-Term Debt (Detail)

Debt - Long-Term Debt (Detail) - USD ($)	Jun. 30, 2018	Jun. 22, 2018	Mar. 31, 2018
Debt Instrument [Line Items]
Total	$ 308,021,000		$ 300,776,000
Unamortized debt issuance costs	(2,837,000)		(3,028,000)
Current maturities	(26,623,000)		(26,848,000)
Long-term debt obligation	278,561,000		270,900,000
Equipment Financing [Member]
Debt Instrument [Line Items]
Revolving credit facility	3,111,000		3,336,000
ADS [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Revolving credit facility	179,200,000		171,500,000
ADS Mexicana [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Revolving credit facility		$ 0
Senior Notes Payable [Member]
Debt Instrument [Line Items]
Senior notes	125,000,000		125,000,000
Industrial Revenue Bonds [Member]
Debt Instrument [Line Items]
Industrial revenue bonds	$ 710,000		$ 940,000

Debt (Secured Bank Term Loans)

Debt (Secured Bank Term Loans) - Additional Information (Detail) - USD ($)	Jun. 22, 2018	Jun. 30, 2018	Jun. 30, 2017
Debt Instrument [Line Items]
Payments on Revolving Credit Facility		$ 93,700,000	$ 155,750,000
Revolving Credit Facility [Member] | ADS Mexicana [Member]
Debt Instrument [Line Items]
Payments on Revolving Credit Facility	$ 12,000,000
Outstanding letters of credit	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Purchase Commitments) - Additional Information (Detail) - Inventory [Member] $ in Millions	3 Months Ended
	Jun. 30, 2018USD ($)
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	$ 8.9

Commitments and Contingencies52

Commitments and Contingencies (Litigation and Other Proceedings) - Additional Information (Detail) $ in Millions	3 Months Ended
	Jun. 30, 2018USD ($)
Federal Securities Laws Violation [Member]
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Payment of penalties for legal fees and expenses	$ 1

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended	12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Change in corporate income taxes			21.00%	35.00%
Effective income tax rate	29.70%	34.80%
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
	Jun. 30, 2018	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense (benefit)	$ 1,559	$ 1,690
Non-Employee Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense (benefit)	243	238
Equity-Classified Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense (benefit)	773	1,084
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense (benefit)	543	368
Cost of Goods Sold [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense (benefit)	62	45
Selling Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense (benefit)	36	25
General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense (benefit)	$ 1,461	$ 1,620

Stock-Based Compensation (2017

Stock-Based Compensation (2017 Omnibus Plan) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	May 24, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Restricted stock awards	$ 735	$ 594
2017 Omnibus Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Restricted stock awards, Shares	100,000
Number of nonqualified stock options granted	200,000
Restricted stock awards	$ 2,300
Number of nonqualified stock options granted, Value	$ 1,900
Share-based compensation award description	the performance units, 50% of the award is based upon the achievement of certain levels of Return on Invested Capital for the performance period and 50% is based upon the achievement of certain levels of Free Cash Flow for the performance period.
Performance awards performance period	3 years
2017 Omnibus Plan [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Number of performance units granted	100,000
Number of performance units granted, Value	$ 2,800
2017 Omnibus Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Common stock approved for issuance			3,500,000

Stock-Based Compensation - Su56

Stock-Based Compensation - Summary of Assumption Used in Estimate Fair Value of Stock Options (Detail)	3 Months Ended
	Jun. 30, 2018$ / shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Common stock price	$ 25.75
Expected stock price volatility	30.50%
Risk-free interest rate	2.90%
Weighted-average expected option life (years)	6 years
Dividend yield	1.20%

Business Segments Information -

Business Segments Information - Additional Information (Detail)	3 Months Ended
	Jun. 30, 2018Segment
Segment Reporting [Abstract]
Number of reportable segments	2
Number of operating segments	2

Business Segments Information58

Business Segments Information - Schedule of Revenue from Reportable Segments by Product Type (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Net sales	$ 387,847	$ 358,359
Domestic [Member]
Segment Reporting Information [Line Items]
Net sales	342,498	319,497
Domestic [Member] | Pipe [Member]
Segment Reporting Information [Line Items]
Net sales	242,026	228,623
Domestic [Member] | Allied Products [Member]
Segment Reporting Information [Line Items]
Net sales	100,472	90,874
International Segment [Member]
Segment Reporting Information [Line Items]
Net sales	45,349	38,862
International Segment [Member] | Pipe [Member]
Segment Reporting Information [Line Items]
Net sales	34,448	29,954
International Segment [Member] | Allied Products [Member]
Segment Reporting Information [Line Items]
Net sales	$ 10,901	$ 8,908

Business Segments Information59

Business Segments Information - Schedule of Additional Financial Information Attributable to Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Mar. 31, 2018
Segment Reporting Information [Line Items]
Net sales	$ 387,847	$ 358,359
Segment Adjusted EBITDA	75,143	60,345
Interest expense	3,802	4,479
Income tax expense	14,284	9,746
Depreciation and amortization	17,827	18,221
Equity in net loss (income) of unconsolidated affiliates	133	(248)
Capital expenditures	6,874	17,949
Investments in unconsolidated affiliates	11,028		$ 12,343
Total identifiable assets	1,090,906		1,043,242
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Total identifiable assets	(18,186)		(4,298)
Domestic [Member]
Segment Reporting Information [Line Items]
Net sales	342,498	319,497
Segment Adjusted EBITDA	68,832	55,089
Interest expense	3,757	4,385
Income tax expense	13,257	9,515
Depreciation and amortization	15,953	16,263
Equity in net loss (income) of unconsolidated affiliates		218
Capital expenditures	5,881	17,108
Total identifiable assets	963,346		904,718
International Segment [Member]
Segment Reporting Information [Line Items]
Net sales	45,349	38,862
Segment Adjusted EBITDA	6,311	5,256
Interest expense	45	94
Income tax expense	1,027	231
Depreciation and amortization	1,874	1,958
Equity in net loss (income) of unconsolidated affiliates	133	(466)
Capital expenditures	993	$ 841
Investments in unconsolidated affiliates	11,028		12,343
Total identifiable assets	$ 145,746		$ 142,822

Business Segments Information60

Business Segments Information - Schedule of Reconciliation of Segment Adjusted EBITDA to Net Income (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net income	$ 32,280	$ 17,742
Interest expense	3,802	4,479
Income tax expense	14,284	9,746
Fair market value adjustments to derivatives	(625)	191
Loss on disposal of assets and costs from exit and disposal activities	(1,104)	(3,423)
Total stock-based compensation expense (benefit)	1,559	1,690
Domestic [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net income	30,589	15,150
Depreciation and amortization	15,953	16,263
Interest expense	3,757	4,385
Income tax expense	13,257	9,515
Segment EBITDA	63,556	45,313
Fair market value adjustments to derivatives	(12)	191
Loss on disposal of assets and costs from exit and disposal activities	1,009	3,319
Unconsolidated affiliates interest, tax, depreciation and amortization		294
Contingent consideration remeasurement	2	26
Total stock-based compensation expense (benefit)	1,559	1,690
ESOP deferred stock-based compensation	4,021	2,614
Executive retirement (benefit) expense	(328)	15
Restatement-related (benefit) costs	(1,231)	1,460
Transaction costs	256	167
Segment Adjusted EBITDA	68,832	55,089
International Segment [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net income	3,062	3,324
Depreciation and amortization	1,874	1,958
Interest expense	45	94
Income tax expense	1,027	231
Segment EBITDA	6,008	5,607
Foreign currency transaction gains	(171)	(869)
Loss on disposal of assets and costs from exit and disposal activities	95	104
Unconsolidated affiliates interest, tax, depreciation and amortization	379	414
Segment Adjusted EBITDA	$ 6,311	$ 5,256

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - $ / shares	3 Months Ended
	Jun. 30, 2018	Sep. 30, 2018
Second Quarter [Member]
Subsequent Event [Line Items]
Dividend payable date	Sep. 14, 2018
Dividend payable, date of record	Aug. 31, 2018
Common Stock [Member] | Scenario Forecast [Member]
Subsequent Event [Line Items]
Cash dividend declared		$ 0.08