Advanced Drainage Systems (WMS) 10-Q 12 Nov 19 2020 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2019	Nov. 05, 2019
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Entity Registrant Name	ADVANCED DRAINAGE SYSTEMS, INC.
Entity Central Index Key	0001604028
Current Fiscal Year End Date	--03-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		68,272,550
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity File Number	001-36557
Entity Tax Identification Number	51-0105665
Entity Address, Address Line One	4640 Trueman Boulevard
Entity Address, City or Town	Hilliard
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	43026
City Area Code	614
Local Phone Number	658-0050
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Title of each class	Common Stock, $0.01 par value per share
Trading Symbol(s)	WMS
Name of each exchange on which registered	NYSE

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019
Current assets:
Cash	$ 54,207	$ 8,891
Receivables (less allowance for doubtful accounts of $5,939 and $7,653, respectively)	250,470	186,991
Inventories	248,914	264,540
Other current assets	10,629	6,091
Total current assets	564,220	466,513
Property, plant and equipment, net	492,017	398,891
Other assets:
Goodwill	669,753	102,638
Intangible assets, net	501,572	37,177
Other assets	67,758	36,940
Total assets	2,295,320	1,042,159
Current liabilities:
Current maturities of debt obligations	6,195	25,932
Current maturities of finance lease obligations	22,555	23,117
Accounts payable	111,450	93,577
Other accrued liabilities	97,979	61,901
Accrued income taxes	3,169	1,758
Total current liabilities	241,348	206,285
Long-term debt obligations (less unamortized debt issuance costs of $2,614 and $2,293, respectively)	1,043,154	208,602
Long-term finance lease obligations	52,746	61,555
Deferred tax liabilities	158,079	45,963
Other liabilities	37,017	19,119
Total liabilities	1,532,344	541,524
Commitments and contingencies (see Note 12)
Mezzanine equity:
Redeemable convertible preferred stock: $0.01 par value; 47,070 shares authorized; 44,170 shares issued; 22,383 and 22,611 shares outstanding, respectively	279,785	282,638
Deferred compensation – unearned ESOP shares	(28,565)	(180,316)
Total mezzanine equity	251,220	102,322
Stockholders’ equity:
Common stock; $0.01 par value: 1,000,000 shares authorized; 68,746 and 57,964 shares issued, respectively; 68,262 and 57,490 shares outstanding, respectively	11,545	11,436
Paid-in capital	800,947	391,039
Common stock in treasury, at cost	(10,162)	(9,863)
Accumulated other comprehensive loss	(26,427)	(25,867)
Retained (deficit) earnings	(277,725)	17,582
Total ADS stockholders’ equity	498,178	384,327
Noncontrolling interest in subsidiaries	13,578	13,986
Total stockholders’ equity	511,756	398,313
Total liabilities, mezzanine equity and stockholders’ equity	$ 2,295,320	$ 1,042,159

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019
Allowance for doubtful accounts	$ 5,939	$ 7,653
Unamortized debt issuance costs	$ 2,614	$ 2,293
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	68,262,000	57,490,000
Common stock, shares outstanding	68,262,000	57,490,000
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	22,383,000	22,611,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net sales	$ 495,905	$ 406,555	$ 909,613	$ 794,402
Cost of goods sold	349,381	311,182	656,637	599,338
Cost of goods sold - ESOP special dividend compensation			168,610
Gross profit	146,524	95,373	84,366	195,064
Operating expenses:
Selling	29,971	24,731	56,336	48,896
General and administrative	48,030	21,584	79,463	42,966
Loss on disposal of assets and costs from exit and disposal activities	2,004	324	2,711	1,428
Intangible amortization	9,300	1,985	10,842	3,969
Income (loss) from operations	57,219	46,749	(143,128)	97,805
Other expense:
Interest expense	52,332	4,531	57,596	8,333
Derivative loss (gains) and other expense (income), net	175	94	79	(720)
Income (loss) before income taxes	4,712	42,124	(200,803)	90,192
Income tax (benefit) expense	(3,547)	12,194	18,823	26,478
Equity in net (income) loss of unconsolidated affiliates	(203)	558	(637)	691
Net income (loss)	8,462	29,372	(218,989)	63,023
Less: net income (loss) attributable to noncontrolling interest	873	702	(222)	2,073
Net income (loss) attributable to ADS	$ 7,589	$ 28,670	$ (218,767)	$ 60,950
Weighted average common shares outstanding:
Basic	60,222	56,929	58,906	56,776
Diluted	60,876	57,558	58,906	57,374
Net income (loss) per share:
Basic	$ 0.10	$ 0.45	$ (3.86)	$ 0.97
Diluted	$ 0.10	$ 0.45	$ (3.86)	$ 0.96
ESOP special dividend compensation [Member]
Operating expenses:
Selling, general and administrative - ESOP special dividend compensation			$ 78,142

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 8,462	$ 29,372	$ (218,989)	$ 63,023
Currency translation (loss) gain	(2,310)	2,837	(746)	(1,975)
Comprehensive income (loss)	6,152	32,209	(219,735)	61,048
Less: other comprehensive (loss) income attributable to noncontrolling interest	(353)	996	(186)	(379)
Less: net income (loss) attributable to noncontrolling interest	873	702	(222)	2,073
Total comprehensive income (loss) attributable to ADS	$ 5,632	$ 30,511	$ (219,327)	$ 59,354

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash Flows from Operating Activities
Net (loss) income	$ (218,989)	$ 63,023
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	43,260	35,363
Deferred income taxes	1,127	3,221
Loss on disposal of assets and costs from exit and disposal activities	2,711	1,428
ESOP and stock-based compensation	16,082	11,760
ESOP special dividend compensation	246,752
Amortization of deferred financing charges	34,285	387
Inventory step up related to Infiltrator Water Technologies acquisition	5,773
Fair market value adjustments to derivatives	996	(901)
Equity in net (income) loss of unconsolidated affiliates	(637)	691
Other operating activities	(3,635)	(1,342)
Changes in working capital:
Receivables	(44,883)	(64,649)
Inventories	57,316	16,378
Prepaid expenses and other current assets	(2,917)	(2,116)
Accounts payable, accrued expenses, and other liabilities	34,470	(5,082)
Net cash provided by operating activities	171,711	58,161
Cash Flows from Investing Activities
Capital expenditures	(25,622)	(19,299)
Acquisition of Infiltrator Water Technologies, net of cash acquired	(1,088,617)
Other investing activities	(116)	429
Net cash used in investing activities	(1,114,355)	(18,870)
Cash Flows from Financing Activities
Proceeds from Term Loan Facility	1,300,000
Payments on Term Loan Facility	(1,300,000)
Proceeds from syndication of Term Loan Facility	700,000
Proceeds from Senior Notes	350,000
Proceeds from Credit Agreement	177,900
Payments on Credit Agreement	(177,900)
Debt issuance costs	(34,606)
Payments on Prudential Senior Notes	(100,000)	(25,000)
Payments on finance lease obligations	(12,375)	(11,619)
Proceeds from common stock offering, net of offering costs	293,648
Cash dividends paid	(76,324)	(11,618)
Proceeds from exercise of stock options	2,430	3,473
Other financing activities	(236)	(1,026)
Net cash provided by (used in) financing activities	988,137	(39,090)
Effect of exchange rate changes on cash	(177)	(176)
Net change in cash	45,316	25
Cash at beginning of period	8,891	17,587
Cash at end of period	54,207	17,612
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for income taxes	7,199	18,331
Cash paid for interest	17,771	8,032
Non-cash operating, investing and financing activities:
Balance in accounts payable for the acquisition of property, plant and equipment	3,669	3,152
PNC Credit Agreement [Member]
Cash Flows from Financing Activities
Proceeds from Credit Agreement	253,900	250,100
Payments on Credit Agreement	$ (388,300)	$ (243,400)

Condensed Consolidated Statem_4

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, 2018		$ 8,471	$ 291,247	$ (190,168)	$ 109,550
Beginning Balance, Shares at Mar. 31, 2018			23,300	15,219
Net income (loss)		832			832
Other comprehensive (income) loss	$ (1,975)
Redeemable convertible preferred stock dividends	(975)
Common stock dividends	(9,130)
Dividend paid to non-controlling interest holder	(735)	(335)			(335)
Allocation of ESOP shares to participants for compensation	3,597			$ 4,792	4,792
Allocation of ESOP shares to participants for Compensation, Shares				(383)
Exercise of common stock options	2,771
Restricted stock awards	(53)
Stock-based compensation expense	3,371
ESOP distribution in common stock			$ (6,130)		(6,130)
ESOP distribution in common stock, Shares			(490)
Ending Balance, Value at Sep. 30, 2018		8,968	$ 285,117	$ (185,376)	108,709
Ending Balance, Shares at Sep. 30, 2018			22,810	14,836
Beginning Balance, Value at Jun. 30, 2018		8,474	$ 287,337	$ (187,772)	108,039
Beginning Balance, Shares at Jun. 30, 2018			22,987	15,027
Net income (loss)		494			494
Other comprehensive (income) loss	2,837
Redeemable convertible preferred stock dividends	(478)
Common stock dividends	(4,585)
Allocation of ESOP shares to participants for compensation	1,972			$ 2,396	2,396
Allocation of ESOP shares to participants for Compensation, Shares				(191)
Exercise of common stock options	258
Restricted stock awards	(2)
Stock-based compensation expense	1,812
ESOP distribution in common stock			$ (2,220)		(2,220)
ESOP distribution in common stock, Shares			(177)
Ending Balance, Value at Sep. 30, 2018		$ 8,968	$ 285,117	$ (185,376)	108,709
Ending Balance, Shares at Sep. 30, 2018			22,810	14,836
Beginning Balance, Value at Mar. 31, 2019	102,322		$ 282,638	$ (180,316)	102,322
Beginning Balance, Shares at Mar. 31, 2019			22,611	14,452
Other comprehensive (income) loss	(746)
Redeemable convertible preferred stock dividends	(8,195)
Common stock dividends	(68,345)
Allocation of ESOP shares to participants for compensation	4,882			$ 6,188	6,188
Allocation of ESOP shares to participants for Compensation, Shares				(495)
ESOP special dividend compensation				$ 145,563	145,563
ESOP special dividend compensation, shares				(11,645)
Exercise of common stock options	2,225
Restricted stock awards	(91)
Stock-based compensation expense	5,012
ESOP distribution in common stock			$ (2,853)		(2,853)
ESOP distribution in common stock, Shares			(228)
Common Stock Offering, Value	293,648
Ending Balance, Value at Sep. 30, 2019	251,220		$ 279,785	$ (28,565)	251,220
Ending Balance, Shares at Sep. 30, 2019			22,383	2,312
Beginning Balance, Value at Jun. 30, 2019			$ 279,816	$ (31,659)	248,157
Beginning Balance, Shares at Jun. 30, 2019			22,385	2,559
Other comprehensive (income) loss	(2,310)
Redeemable convertible preferred stock dividends	(1,349)
Common stock dividends	(5,238)
Allocation of ESOP shares to participants for compensation	2,392			$ 3,094	3,094
Allocation of ESOP shares to participants for Compensation, Shares				(247)
Exercise of common stock options	764
Restricted stock awards	1
Stock-based compensation expense	3,171
ESOP distribution in common stock			$ (31)		(31)
ESOP distribution in common stock, Shares			(2)
Common Stock Offering, Value	293,648
Ending Balance, Value at Sep. 30, 2019	$ 251,220		$ 279,785	$ (28,565)	$ 251,220
Ending Balance, Shares at Sep. 30, 2019			22,383	2,312

Condensed Consolidated Statem_5

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) Earnings [Member]	Total ADS Stockholders' Equity [Member]	Non-controlling Interest in Subsidiaries [Member]
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 (loss)	62,191					60,950	60,950	1,241
Other comprehensive (income) loss	(1,975)				(1,596)		(1,596)	(379)
Redeemable convertible preferred stock dividends	(975)					(975)	(975)
Common stock dividends	(9,130)					(9,130)	(9,130)
Dividend paid to non-controlling interest holder	(735)							(735)
Allocation of ESOP shares to participants for compensation	3,597		3,597				3,597
Exercise of common stock options	2,771	$ 2	3,473	$ (704)			2,771
Exercise of common stock options, Shares		242		26
Restricted stock awards	(53)	$ 1		$ (54)			(53)
Restricted stock awards, Shares		19		2
Stock-based compensation expense	3,371		3,371				3,371
ESOP distribution in common stock	6,130	$ 4	6,126				6,130
ESOP distributions in common stock, Shares		375
Ending Balance, Value at Sep. 30, 2018	389,451	$ 11,433	381,475	$ (9,035)	(22,843)	11,631	372,661	16,790
Ending Balance, Shares at Sep. 30, 2018		57,525		441
Beginning Balance, Value at Jun. 30, 2018	356,539	$ 11,431	375,215	$ (9,033)	(24,684)	(11,976)	340,953	15,586
Beginning Balance, Shares at Jun. 30, 2018		57,366		441
Net income (loss)	28,878					28,670	28,670	208
Other comprehensive (income) loss	2,837				1,841		1,841	996
Redeemable convertible preferred stock dividends	(478)					(478)	(478)
Common stock dividends	(4,585)					(4,585)	(4,585)
Allocation of ESOP shares to participants for compensation	1,972		1,972				1,972
Exercise of common stock options	258		258				258
Exercise of common stock options, Shares		25
Restricted stock awards	(2)			$ (2)			(2)
Stock-based compensation expense	1,812		1,812				1,812
ESOP distribution in common stock	2,220	$ 2	2,218				2,220
ESOP distributions in common stock, Shares		134
Ending Balance, Value at Sep. 30, 2018	389,451	$ 11,433	381,475	$ (9,035)	(22,843)	11,631	372,661	16,790
Ending Balance, Shares at Sep. 30, 2018		57,525		441
Beginning Balance, Value at Mar. 31, 2019	398,313	$ 11,436	391,039	$ (9,863)	(25,867)	17,582	384,327	13,986
Beginning Balance, Shares at Mar. 31, 2019		57,964		474
Net income (loss)	(218,989)					(218,767)	(218,767)	(222)
Other comprehensive (income) loss	(746)				(560)		(560)	(186)
Redeemable convertible preferred stock dividends	(8,195)					(8,195)	(8,195)
Common stock dividends	(68,345)					(68,345)	(68,345)
Allocation of ESOP shares to participants for compensation	4,882		4,882				4,882
ESOP special dividend compensation	101,189		101,189				101,189
Exercise of common stock options	2,225	$ 2	2,430	$ (207)			2,225
Exercise of common stock options, Shares		168		7
Restricted stock awards	(91)	$ 1		$ (92)			(91)
Restricted stock awards, Shares		88		3
Stock-based compensation expense	5,012		5,012				5,012
ESOP distribution in common stock	2,853	$ 2	2,851				2,853
ESOP distributions in common stock, Shares		176
Common Stock Offering, Value	293,648	$ 104	293,544				293,648
Common Stock Offering, Shares		10,350
Ending Balance, Value at Sep. 30, 2019	511,756	$ 11,545	800,947	$ (10,162)	(26,427)	(277,725)	498,178	13,578
Ending Balance, Shares at Sep. 30, 2019		68,746		484
Beginning Balance, Value at Jun. 30, 2019	212,184	$ 11,439	501,046	$ (10,162)	(24,470)	(278,727)	199,126	13,058
Beginning Balance, Shares at Jun. 30, 2019		58,283		484
Net income (loss)	8,462					7,589	7,589	873
Other comprehensive (income) loss	(2,310)				(1,957)		(1,957)	(353)
Redeemable convertible preferred stock dividends	(1,349)					(1,349)	(1,349)
Common stock dividends	(5,238)					(5,238)	(5,238)
Allocation of ESOP shares to participants for compensation	2,392		2,392				2,392
Exercise of common stock options	764	$ 1	763				764
Exercise of common stock options, Shares		54
Restricted stock awards	1	$ 1					1
Restricted stock awards, Shares		57
Stock-based compensation expense	3,171		3,171				3,171
ESOP distribution in common stock	31		31				31
ESOP distributions in common stock, Shares		2
Common Stock Offering, Value	293,648	$ 104	293,544				293,648
Common Stock Offering, Shares		10,350
Ending Balance, Value at Sep. 30, 2019	$ 511,756	$ 11,545	$ 800,947	$ (10,162)	$ (26,427)	$ (277,725)	$ 498,178	$ 13,578
Ending Balance, Shares at Sep. 30, 2019		68,746		484

Condensed Consolidated Statem_6

Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement Of Stockholders Equity [Abstract]
Common stock dividend per share	$ 0.09	$ 0.08	$ 1.18	$ 0.16

Background and Summary of Signi

Background and Summary of Significant Accounting Policies	6 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Background and Summary of Significant Accounting Policies	1. BACKGROUND AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Description of Business - Advanced Drainage Systems, Inc. and subsidiaries (collectively referred to as “ADS” or the “Company”), incorporated in Delaware, designs, manufactures and markets high performance thermoplastic corrugated pipe and related water management products, primarily in North and South America and Europe. ADS’s broad product line includes corrugated high density polyethylene (or “HDPE”) pipe, polypropylene (or “PP”) pipe and related water management products. On July 31, 2019, the Company completed its acquisition (the “Acquisition”) of Infiltrator Water Technologies Ultimate Holdings, Inc. (“Infiltrator Water Technologies”). Infiltrator Water Technologies is a leading national provider of plastic leach field chambers and systems, septic tanks and accessories, primarily for use in residential applications. Infiltrator Water Technologies’ products are used in on-site septic wastewater treatment systems in the United States and Canada. Infiltrator Water Technologies manufactures and sells StormTech and ARC Septic Chambers to certain entities affiliated with ADS. See “Note 3. Acquisitions” for additional information on the Acquisition. The Company is managed and reports results of operations in three reportable segments: Pipe, Infiltrator Water Technologies and International. The Company also reports its Allied Products and all other business segments as Allied Products and Other. 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, 2019 was derived from audited financial statements included in the Annual Report on Form 10-K for the year ended March 31, 2019 (“Fiscal 2019 Form 10-K”). The accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, of a normal recurring nature, necessary to present fairly its financial position as of September 30, 2019 and the results of operations and cash flows for the three and six months ended September 30, 2019. 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 2019 Form 10-K. Principles of Consolidation - The Condensed Consolidated Financial Statements include the Company, its wholly-owned subsidiaries, its majority-owned subsidiaries and variable interest entities (“VIEs”) of which the Company is the primary beneficiary. The Company uses the equity method of accounting for equity investments where it exercises significant influence but does not hold a controlling financial interest. Such investments are recorded in Other assets in the Condensed Consolidated Balance Sheets and the related equity earnings from these investments are included in Equity in net loss of unconsolidated affiliates in the Condensed Consolidated Statements of Operations. All intercompany balances and transactions have been eliminated in consolidation. Recent Accounting Guidance Recently Adopted Accounting Guidance Leases - In February 2016, the Financial Accounting Standards Board (the “FASB”) issued an accounting standard update (“ASU”) which amends the guidance for leases (“ASC 842”). 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. In July 2018, the FASB amended ASC 842 to provide another transition method, allowing a cumulative effect adjustment to the opening balance of retained earnings during the period of adoption. The Company adopted these standards effective April 1, 2019 using the transition method in the July 2018 ASU which does not require adjustments to comparative periods or require modified disclosures for those periods and includes transition relief practical expedients. “Note 5 . Leases” for further information on the adoption of the new lease ASUs. Hedge Accounting - In August 2017, the FASB issued an ASU which expanded an entity’s ability to apply hedge accounting for non-financial and financial risk components and provided a simplified approach for fair value hedging of interest rate risk. The standard also refined how entities assess hedge effectiveness. The Company adopted this standard effective April 1, 2019. The new standard did not have an impact on the Condensed Consolidated Financial Statements. Recent Accounting Guidance Not Yet Adopted 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. Except for the pronouncements described above, there have been no new accounting pronouncements issued or adopted since the filing of the Fiscal 2019 Form 10-K that have significance, or potential significance, to the Condensed Consolidated Financial Statements.

Loss on Disposal of Assets and

Loss on Disposal of Assets and Costs from Exit and Disposal Activities	6 Months Ended
	Sep. 30, 2019
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”), which concluded during fiscal 2019. The following table summarizes the activity included in Loss on disposal of assets and costs from exit and disposal activities recorded during the three and six months ended September 30, 2019 and 2018: Three Months Ended September 30, Six Months Ended September 30, 2019 2018 2019 2018 (In thousands) (In thousands) Accelerated depreciation $ — $ 430 $ — $ 430 Plant severance — 118 — 83 Product optimization — 303 — 303 Other restructuring activities — 171 — 202 Total 2018 Restructuring Plan activities $ — $ 1,022 $ — $ 1,018 Loss (gain) on other disposals and partial disposals of property, plant and equipment 444 (698 ) 1,151 410 Acquisition related severance costs 1,560 — 1,560 — Total loss on disposal of assets and costs from exit and disposal activities $ 2,004 $ 324 $ 2,711 $ 1,428 Approximately $0.7 million of the Total 2018 Restructuring Plan activities related to the Pipe reporting segment for the three and six months ended September 30, 2018, respectively. There was $0.3 million of the Total 2018 Restructuring Plan activities related to the International reporting segment for the three and six months ended September 30, 2018. A reconciliation of the beginning and ending amounts of restructuring liability related to the 2018 Restructuring Plan at September 30, 2019 and 2018 is as follows: Six Months Ended September 30, 2019 2018 (In thousands) Balance at the beginning of the period $ 1,696 $ 3,901 Expenses — 214 Non-cash expenses — 59 Payments (842 ) (1,867 ) Balance at the end of the period $ 854 $ 2,307 As of September 30, 2019, the Company had $0.2 million of long-term severance liability related to the restructuring activities recorded in other liabilities in the Condensed Consolidated Balance Sheet. The current portion of the restructuring liability is recorded in Other accrued liabilities in the Condensed Consolidated Balance Sheet.

Acquisitions

Acquisitions	6 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Acquisitions	3. ACQUISITIONS Acquisition of Infiltrator Water Technologies - On July 31, 2019 (the “Closing Date”), the Company completed its Acquisition of Infiltrator Water Technologies pursuant to an Agreement and Plan of Merger (the “Merger Agreement”) dated July 31, 2019. Infiltrator Water Technologies manufactures and sells wastewater systems for homes and provides drainage chambers for septic and storm water management. The total fair value of consideration transferred was $1,146.0 million. The Merger Agreement was funded through the new Senior Secured Credit Facilities as further described in “Note 11. Debt”. The results of operations of Infiltrator Water Technologies are included in the Condensed Consolidated Statements of Operations after July 31, 2019. The following table summarizes the consideration transferred and the preliminary purchase price allocation of the assets acquired and liabilities assumed. The Company’s estimates and assumptions are subject to change during the measurement period (up to one year from the Closing Date), as the Company continues to finalize the valuations of assets acquired and liabilities assumed. Such finalizations may result in material changes from the preliminary purchase price allocations. (Amounts in thousands) Amount Cash $ 57,375 Total current assets, excluding cash 75,847 Property, plant and equipment, net 98,860 Goodwill 567,034 Intangible assets, net 475,000 Other assets 14,366 Total current liabilities (22,756 ) Deferred tax liabilities (109,926 ) Other liabilities (9,274 ) Total fair value of consideration transferred $ 1,146,526 The fair value of consideration transferred includes $6.0 million of Infiltrator Water Technologies payable to the Company and $6.6 million of Infiltrator Water Technologies receivable due from the Company. The goodwill of $567.0 million represents the excess of consideration transferred over the fair value of assets acquired and liabilities assumed and is attributable to expected revenue synergies, as well as operating efficiencies and cost savings. The goodwill is not deductible for tax purposes and is assigned to the Infiltrator Water Technologies segment. Of the $109.9 million of preliminary purchase price allocated to deferred tax liabilities, $59.8 million related to the step up of GAAP basis for fair market valuations, while the remaining $50.1 million were acquired deferred tax liabilities. Of the total $59.8 million, $55.7 million was attributed to intangible assets. See “Note 13. Income Taxes” for additional information. The purchase price excludes transaction costs. During the three and six months ended September 30, 2019, the Company incurred $16.6 million and $20.8 million, respectively, of transaction costs related to the Acquisition such as legal, accounting, valuation and other professional services. The Company estimates approximately $7.3 million of transaction costs during the six months ended September 30, 2019 were not deductible for tax purposes. These costs are included in general and administrative expenses in the Condensed Consolidated Statements of Operations and Condensed Consolidated Statements of Comprehensive Income. The identifiable intangible assets recorded in connection with the closing of the Acquisition are based on valuations including customer relationships, patents and developed technology, and tradename and trademarks totaling $475.0 million. Customer relationships are amortized using an accelerated method over an estimated useful life of 15 years. Patents and developed technology and tradename and trademarks are on a straight-line basis over the respective useful lives of 10 and 20 years. (Amounts in thousands) Preliminary fair value Estimated useful lives Customer relationships $ 270,000 15 years Patents and developed technology 140,000 10 years Tradename and trademarks 65,000 20 years Total identifiable intangible assets $ 475,000 The net sales and income before taxes of Infiltrator Water Technologies since the acquisition are included in the Condensed Consolidated Statements of Operations for the three and six months ended September 30, 2019 were $52.7 million and $6.9 million, respectively. The unaudited pro forma information for the three and six months ended September 30, 2019 and 2018 presented below includes the effects of the Acquisition as if it had been consummated as of April 1, 2018, with adjustments to give effect to pro forma events that are directly attributable to the Acquisition. Adjustments include those related to the amortization of acquired intangible assets, increases in interest expense due to additional borrowings incurred to finance the Acquisition, transaction costs, the elimination of transactions between the Company and Infiltrator Water Technologies and the estimated tax impacts thereof. The unaudited pro forma information does not reflect any operating efficiency or potential cost savings that could result from the consolidation of Infiltrator Water Technologies. Accordingly, the unaudited pro forma information is presented for informational purposes only and is not necessarily indicative of the actual results of the combined company if the Acquisition had occurred at the beginning of the period presented, nor is it indicative of the future results of operations. Three Months Ended September 30, Six Months Ended September 30, (Amounts in thousands) 2019 2018 2019 2018 Net sales $ 512,072 $ 466,484 $ 996,016 $ 917,533 Net income (loss) attributable to ADS 45,494 30,374 (170,777 ) 6,020

Revenue Recognition

Revenue Recognition	6 Months Ended
	Sep. 30, 2019
Revenue From Contract With Customer [Abstract]
Revenue Recognition	4 . REVENUE RECOGNITION Revenue Disaggregation - The Company disaggregates net sales by Domestic, International and Infiltrator Water Technologies and further disaggregates Domestic and International by product type, consistent with its reportable segment disclosure. This disaggregation level best depicts how the nature, amount, timing and uncertainty of revenue and cash flows are affected by economic factors. Refer to “Note 15. Business Segments Information” for the Company’s disaggregation of Net sales by reportable segment. 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 following table presents the balance of the Company’s contract asset and liability as of September 30, 2019 and March 31, 2019: September 30, 2019 March 31, 2019 (In thousands) Contract asset - product returns $ 1,069 $ 646 Refund liability 2,429 1,372

Leases

Leases	6 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	5 . LEASES ASC 842 Adoption - The Company adopted the provisions of ASC 842 beginning on April 1, 2019 using the transition methodology in ASC 842 which does not require adjustments to comparative periods or require modified disclosures. The Company elected the transition relief practical expedient package as described in ASC 842-10-65-1. ASC 842 provides lessees with the option of electing an accounting policy, by class of underlying asset, in which the lessee may choose not to separate nonlease components from lease components. The Company elected this practical expedient for leases of certain classes of equipment, including forklifts and fleet tractors and trailers. The Company also elected the accounting policy to not recognize the right-of-use asset and lease liability for leases with an initial expected term of 12 months or less (“Short-term leases”). The adoption of ASC 842 resulted in the recording of $13.3 million of additional lease liabilities and right-of-use assets to the beginning balance of the Company’s Condensed Consolidated Balance Sheet. Infiltrator Water Technologies adopted ASC 842 on July 31, 2019 using the same methodology and policy elections taken by the Company on April 1, 2019. The Infiltrator Water Technologies adoption of ASC 842 resulted in the recording of $11.2 million of additional lease liabilities and corresponding right-of-use assets to the beginning balance of the Company’s Condensed Consolidated Balance Sheet as of September 30, 2019. The adoption did not have an impact on the Company’s Condensed Consolidated Statement of Operations and Condensed Consolidated Statement of Cash Flows. Nature of the Company’s Leases - The Company has operating and finance leases for plants, yards, corporate offices, tractors, trailers and other equipment. The Company’s leases have a remaining term of less than one year to 30 years. A portion of the Company’s yard leases include an option to extend the leases for up to 5 years. The Company has included renewal options which are reasonably certain to be excised in its right-of-use asset and lease liability. The Company’s lease payments are generally fixed. Certain equipment leases contain residual value guarantees that create a contingent obligation on the part of the Company to compensate the lessor if the leased asset cannot be sold for an amount in excess of a specified minimum value at the conclusion of the lease term. The calculation is based on the original cost of the transportation equipment, less lease payments made, compared to a percentage of the transportation equipment’s fair market value at the time of sale. All leased units covered by this guarantee have been classified as finance leases and a corresponding finance lease obligation was recorded. Therefore, no contingent obligation is needed. F or all leases with an initial expected term of more than 12 months, the Company recorded, at the adoption date of ASC 842 or lease commencement date for leases entered into after the adoption date , a lease liability, which is the lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. The Company will utilize its collateralized incremental borrowing rate commensurate to the lease term as the discount rate for its leases , unless the Company can specifically determine the lessor’s implicit rate. The incremental borrowing rate for each lease is determined based on the Company’s credit rating, adjusted for the impacts of collateral , and the lease term . Lease Cost - The components of lease cost for the three and six months ended September 30, 2019 was as follows: (Amounts in thousands) Income Statement Classification Three Months Ended September 30, 2019 Six Months Ended September 30, 2019 Operating lease cost Operating lease cost Cost of goods sold $ 1,179 $ 2,127 Operating lease cost General and administrative 399 489 Short-term lease cost Cost of goods sold 588 1,324 Total operating lease cost $ 2,166 $ 3,940 Finance lease cost Amortization of right-of-use assets Cost of goods sold 5,345 9,899 Amortization of right-of-use assets General and administrative 361 717 Interest on lease liabilities Interest expense 1,168 2,327 Total finance lease cost $ 6,874 $ 12,943 Supplemental cash flow information related to leases for the six months ended September 30, 2019 was as follows: (Amounts in thousands) 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,616 Operating cash flows from finance leases 2,434 Financing cash flows from finance leases 12,375 Right-of-use assets obtained in exchange for lease obligations: Operating leases 4,774 Finance leases (a) 1,469 (a) The Company acquired $11.9 million of property, plant and equipment under finance leases in the six months ended September 30, 2018. Supplemental balance sheet information related to leases as of September 30, 2019 was as follows: (Amounts in thousands) Balance Sheet Classification 2019 Operating leases Right-of-use assets Other assets $ 24,010 Current lease liabilities Other accrued liabilities 6,604 Non-current lease liabilities Other liabilities 17,340 Total operating lease liabilities $ 23,944 Finance leases Right-of-use assets Property, plant and equipment 102,948 Current lease liabilities Current maturities of finance lease obligations 22,555 Non-current lease liabilities Long-term finance lease obligations 52,746 Total finance lease liabilities $ 75,301 Weighted average lease term Operating leases 7.18 Finance leases 10.88 Weighted average discount rate Operating leases 3.53 % Finance leases 4.96 % The following is a schedule by year of future minimum lease payments on a rolling twelve-month basis under operating and finance leases and the present value of the net minimum lease payments as of September 30, 2019: (Amounts in thousands) Operating Leases Finance Leases Year 1 $ 7,443 $ 25,926 Year 2 6,012 21,258 Year 3 3,742 15,777 Year 4 2,409 9,722 Year 5 1,663 5,740 Thereafter 6,719 6,525 Total minimum lease payments $ 27,988 $ 84,948 Less: amount representing interest 4,044 9,647 Present value of net minimum lease payments $ 23,944 $ 75,301 Disclosures Related to Periods Prior to Adoption of ASC 842 As of March 31, 2019, total contractual obligations for capital and operating leases were as follows: (Amounts in thousands) Operating Leases Capital Leases 2020 $ 4,159 $ 26,604 2021 2,924 22,507 2022 1,814 18,064 2023 690 11,721 2024 325 7,143 Thereafter 2,236 8,198 Total minimum lease payments $ 12,148 $ 94,237 Less: amount representing interest — 9,565 Present value of net minimum lease payments $ 12,148 $ 84,672

Inventories

Inventories	6 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Inventories	6 . Inventories as of the periods presented consisted of the following: September 30, 2019 March 31, 2019 (In thousands) Raw materials $ 60,243 $ 47,910 Finished goods 188,671 216,630 Total inventories $ 248,914 $ 264,540 There were no work-in-process inventories as of the periods presented.

Fair Value Measurement

Fair Value Measurement	6 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurement	7 . 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 periods 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, the Company uses industry standard valuation models. Where applicable, these models project future cash flows and discount the future amounts to a present value using market-based observable inputs including credit risk, interest rate curves, foreign currency rates and forward and spot prices for currencies. In circumstances where market-based observable inputs are not available, management judgment is used to develop assumptions to estimate fair value. Generally, the fair value of Level 3 instruments is estimated as the net present value of expected future cash flows based on internal and external inputs. Recurring Fair Value Measurements - The assets and liabilities carried at fair value as of the periods presented were as follows: September 30, 2019 Total Level 1 Level 2 Level 3 (In thousands) Assets: Derivative assets – diesel fuel contracts $ 20 $ — $ 20 $ — Total assets at fair value on a recurring basis $ 20 $ — $ 20 $ — Liabilities: Derivative liabilities – diesel fuel contracts $ 81 $ — $ 81 $ — Total liabilities at fair value on a recurring basis $ 81 $ — $ 81 $ — March 31, 2019 Total Level 1 Level 2 Level 3 (In thousands) Assets: Derivative assets – diesel fuel contracts $ 189 $ — $ 189 $ — Interest rate swaps 1,088 — 1,088 — Total assets at fair value on a recurring basis $ 1,277 $ — $ 1,277 $ — Liabilities: Derivative liability - diesel fuel contracts $ 283 $ — $ 283 $ — Foreign exchange contracts 60 — 60 — Contingent consideration for acquisitions 203 — — 203 Total liabilities at fair value on a recurring basis $ 546 $ — $ 343 $ 203 For the six months ended September 30, 2019 and 2018, respectively, there were no transfers in or out of Levels 1, 2 or 3. Valuation of Contingent Consideration for Acquisitions - The method used to price these liabilities is considered Level 3. Changes in the fair value of recurring fair value measurements using significant unobservable inputs (Level 3) for the periods presented were as follows: Three Months Ended September 30, Six Months Ended September 30, 2019 2018 2019 2018 (In thousands) (In thousands) Balance at the beginning of the period $ 57 $ 460 $ 203 $ 578 Change in fair value 40 7 40 9 Payments of contingent consideration liability (17 ) (142 ) (163 ) (262 ) Balance at the end of the period $ 80 $ 325 $ 80 $ 325 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 (as defined below and further discussed in “Note 11. Debt”) were $350.0 million and $355.3 million, respectively, as of September 30, 2019. The fair value of the Senior Notes was determined based on a quoted market data for the Company’s Senior Notes. The categorization of the framework used to evaluate the Senior Notes is considered Level 2. The carrying and fair value of the Company’s Prudential Senior Notes (as defined below and further discussed in “Note 13. Debt” to the Company’s audited financial statements included in the Fiscal 2019 Form 10-K) were zero at September 30, 2019, and $ 100.0 million and $ 98.9 million, respectively, at March 31, 201 9 . The fair value of the Prudential 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 debt under the Term Loan Facility and PNC Credit Agreement (as defined below) , 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	6 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Derivative Transactions	8 . DERIVATIVE TRANSACTIONS The Company uses commodity options in the form of collars and swaps, and has previously used interest rate swaps and foreign currency forward contracts to manage its various exposures to interest rate, commodity price fluctuations and foreign currency exchange rate fluctuations. Interest rate swap gains and losses resulting from the difference between the spot rate and applicable base rate is recorded in the Condensed Consolidated Statements of Operations 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 September 30, Six Months Ended September 30, 2019 2018 2019 2018 (In thousands) (In thousands) Diesel fuel option collars $ 7 $ 154 $ 76 $ 142 Interest rate swaps — (430 ) 1,726 (1,043 ) Foreign exchange forward contracts — — (7 ) — Total net unrealized mark-to-market (gains) loss $ 7 $ (276 ) $ 1,795 $ (901 ) Diesel fuel option collars 150 (266 ) 157 (574 ) Foreign exchange forward contracts 102 (39 ) 102 (90 ) Interest rate swaps 710 (67 ) 544 (92 ) Total net realized loss (gains) $ 962 $ (372 ) $ 803 $ (755 ) A summary of the fair value of derivatives is included in “Note 7. Fair Value Measurement.”

Net Income Per Share and Stockh

Net Income Per Share and Stockholders' Equity	6 Months Ended
	Sep. 30, 2019
Net Income Per Share And Stockholders Equity [Abstract]
Net Income Per Share and Stockholders' Equity	9 . NET INCOME PER SHARE AND STOCKHOLDERS’ EQUITY The Company is required to apply the two-class method to compute both basic and diluted net income per share. The two-class method is an earnings allocation formula that treats participating securities as having rights to earnings that would otherwise have been available to common stockholders. The following table presents information necessary to calculate net income per share for the periods presented, as well as potentially dilutive securities excluded from the weighted average number of diluted common shares outstanding because their inclusion would have been anti-dilutive: Three Months Ended September 30, Six Months Ended September 30, (In thousands, except per share data) 2019 2018 2019 2018 NET INCOME PER SHARE—BASIC: Net income (loss) attributable to ADS $ 7,589 $ 28,670 $ (218,767 ) $ 60,950 Adjustments for: Dividends to redeemable convertible preferred stockholders (1,355 ) (478 ) (8,196 ) (975 ) Dividends paid to unvested restricted stockholders (4 ) (15 ) (330 ) (30 ) Net income (loss) available to common stockholders and participating securities 6,230 28,177 (227,293 ) 59,945 Undistributed income allocated to participating securities (204 ) (2,310 ) — (5,022 ) Net income (loss) available to common stockholders – Basic $ 6,026 $ 25,867 $ (227,293 ) $ 54,923 Weighted average number of common shares outstanding – Basic 60,222 56,929 58,906 56,776 Net income (loss) per common share – Basic $ 0.10 $ 0.45 $ (3.86 ) $ 0.97 NET INCOME PER SHARE—DILUTED: Net income (loss) available to common stockholders – Diluted $ 6,026 $ 25,867 $ (227,293 ) $ 54,923 Weighted average number of common shares outstanding – Basic 60,222 56,929 58,906 56,776 Assumed exercise of stock options 576 629 — 598 Restricted stock 78 — — — Weighted average number of common shares outstanding – Diluted 60,876 57,558 58,906 57,374 Net income (loss) per common share – Diluted $ 0.10 $ 0.45 $ (3.86 ) $ 0.96 Potentially dilutive securities excluded as anti-dilutive 15,084 6,303 13,269 6,229 Common Stock Offering – On September 10, 2019, the Company issued and sold an aggregate of 10,350,000 shares of common stock, $0.01 par value per share, which included the full exercise of the underwriters’ option to purchase additional shares, at a price of $29.75 per share, before underwriting discounts and commissions. The common stock was sold pursuant to the Company’s shelf registration statement and related prospectus supplement. The Company received proceeds of $293.6 million from the issuance after deducting underwriting discounts and commissions and offering expenses. The Company used the net proceeds for the repayment of a portion of the outstanding borrowings under the Senior Secured Credit Facility. Stockholders’ Equity - The Company did not repurchase any shares of common stock during the three and six months ended September 30, 2019 and 2018. In February 2017, the Company’s Board of Directors’ authorized the Company to repurchase up to $50 million of ADS common stock in accordance with applicable securities laws. As of September 30, 2019, 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 Special Dividend and the Employees Stock Ownership Plan (“ESOP”) - During the three months ended June 30, 2019, the Board of Directors approved a special cash dividend of $1.00 per share and quarterly dividends of $0.09. The special and quarterly dividend were paid to all stockholders on June 14, 2019 to stockholders of record at the close of business on June 3, 2019. The total dividend payment was $81.6 million. The dividends received by the unallocated redeemable convertible preferred stock held in the ESOP trust was used to pay $ 12.0 million of the ESOP loan back to the Company resulting in approximately 11.6 million shares of the Company’s redeemable convertible preferred stock being allocated to ESOP participants. The Company recognized $ 246.8 million in stock-based compensation expense based on the fair value on the date the Board of Directors approved the special dividend. The Board of Director ’s approval committed the ESOP to use those proceeds to pay down the ESOP loan. The special dividend compensation expense was recognized in Cost of goods sold - ESOP special dividend compensation and Selling , g eneral and administrative expenses - ESOP special dividend compensation on the Company’s Consolidated Statement of Operations. The Company’s ESOP is further described in “Note 16. Employee Benefit Plans” to the Company’s audited financial statements included in the Fiscal 2019 Form 10-K.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	10 . 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. On June 22, 2018, the Company and ADS Mexicana entered into 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 September 30, 2019, 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. The Company has concluded that it is appropriate to account for these investments using the equity method, whereby the Company’s share of the income or loss of the joint venture is reported in the Condensed Consolidated Statements of Operations under Equity in net loss (income) of unconsolidated affiliates and the Company’s investment in the joint venture is included in Other assets in the Condensed Consolidated Balance Sheets. ADS is the guarantor of 50% of the South American Joint Venture’s credit facility, and the debt guarantee is shared equally with the joint venture partner. The Company’s maximum potential obligation under this guarantee is $11.0 million as of September 30, 2019. The maximum borrowings permitted under the South American Joint Venture’s credit facility are $22.0 million. This credit facility allows borrowings in either Chilean pesos or US dollars at a fixed interest rate determined at inception of each draw on the facility. The guarantee of the South American Joint Venture’s debt expires on December 31, 2020. ADS does not anticipate any required contributions related to the balance of this credit facility. As of September 30, 2019 and March 31, 2019, the outstanding principal balances of the credit facility including letters of credit were $11.2 million and $12.3 million, respectively. As of September 30, 2019, there were no U.S. dollar denominated loans. The weighted average interest rate as of September 30, 2019 was 5.3% 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 and other product sales to ADS and its other related parties, which totaled $0.1 million and $0.5 million for the three and six months ended September 30, 2019, and zero and $0.6 million for the three and six months ended September 30, 2018. ADS pipe sales to the South American Joint Venture were $0.1 million and $0.4 million for the three and six months ended September 30, 2019, and $0.4 million and $0.6 million for the three and six months ended September 30, 2018, respectively. Tigre USA - Tigre USA was a joint venture that ADS no longer has an ownership interest in, but the owner is the partner for the South American Joint Venture. ADS purchased $0.6 million and $1.2 million of Tigre USA manufactured products for use in the production of ADS products during the three and six months ended September 30, 2019. ADS purchased $0.7 million and $1.2 million of Tigre USA manufactured products for use in the production of ADS products during the three and six months ended September 30, 2018.

Debt

Debt	6 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	1 1 . Long-term debt as of the periods presented consisted of the following: September 30, 2019 March 31, 2019 (In thousands) Term Loan Facility $ 700,000 $ — Senior Notes 350,000 — Revolving Credit Facility — — PNC Credit Agreement — 134,400 Prudential Senior Notes — 100,000 Equipment financing 1,963 2,427 Total 1,051,963 236,827 Unamortized debt issuance costs (2,614 ) (2,293 ) Current maturities (6,195 ) (25,932 ) Long-term debt obligation $ 1,043,154 $ 208,602 Bridge Credit Facility On July 31, 2019, the Company entered into a credit agreement (the “Base Credit Agreement”) by and among the Company, as borrower, Barclays Bank PLC, as administrative agent, the several lenders from time to time party thereto. The Base Credit Agreement provided for a term loan facility in an initial aggregate principal amount of up to $1.3 billion (the “Bridge Loan Facility”), a revolving credit facility in an initial aggregate principal amount of up to $350 million (the “Bridge Revolving Credit Facility”), a letter of credit sub-facility in the initial aggregate available amount of up to $50 million, as a sublimit of such Revolving Credit Facility (the “Bridge L/C Facility”) and a swing line sub-facility in the aggregate available amount of up to $50 million, as a sublimit of the Revolving Credit Facility (together with the Bridge Loan Facility, the Bridge Revolving Credit Facility and the Bridge L/C Facility, the “Bridge Credit Facility”). On July 31, 2019, the Company borrowed approximately $1.3 billion under the Bridge Loan Facility and $145 million under the Bridge Revolving Credit Facility, which amounts were to (i) finance the consideration paid in connection with the closing of the Acquisition, (ii) repay the total outstanding amount as of the Closing Date under the Company’s then existing revolving credit facility with PNC, (iii) repay outstanding amounts of existing indebtedness incurred by Infiltrator Water Technologies under its outstanding credit facility in effect prior to the Acquisition, and (iv) pay certain transaction fees and expenses associated with the Acquisition and the Bridge Loan Facility. Approximately $300.0 million of outstanding borrowings under the Base Credit Agreement were repaid on September 10, 2019 with proceeds from the Company’s public offering of common stock as further described in “Note 9, Net Income Per Share and Stockholders’ Equity” and approximately $300.0 million of outstanding borrowings under the Bridge Loan Facility were repaid on September 23, 2019 with proceeds from the Company’s offering of $350.0 million Senior Notes, as defined and further described below. As a result of this borrowing, on July 31, 2019, the Company initially capitalized approximately $46.9 million of deferred financing fees associated with the Bridge Credit Facility. This amount was later reduced by $14.9 million due to refunds received by ADS. The remaining deferred financing costs were written off due to loss on early extinguishment of debt resulting from the $300.0 million principal payment primarily from the Common Stock Offering, $300.0 million principal payment from the issuance of Senior Notes due 2027, and $700 million principal payment from the issuance of the Senior Secured Credit Facility on September 24, 2019. These financings resulted in the Company treating the Bridge Credit Facility as having been extinguished and replaced with the Common Stock Offering, Senior Notes due 2027 and the syndicated Senior Secured Credit Facility for accounting purposes under ASC 470-50. The loss on early extinguishment of debt, which is included in interest expense in the Company's Condensed Consolidated Statements of Operations, primarily reflects the write-off of unamortized debt issuance costs and discounts. Repayment of Prudential Senior Notes On July 29, 2019, the Company repaid in full all of its and its subsidiaries’ indebtedness and other obligations totaling $104.4 million under that certain Second Amended and Restated Private Shelf Agreement, dated as of June 22, 2017 (as amended the “Shelf Note Agreement”) of the Company’s Senior Notes (“Prudential Senior Notes”), by and among the Company, as issuer, the guarantors from time to time a party thereto, PGIM, Inc., as a purchaser and the other purchasers from time to time a party thereto. The Company repaid the outstanding indebtedness under the Shelf Note Agreement using borrowings from the Company’s Second Amended and Restated Credit Agreement (the “PNC Credit Agreement”) as in effect as of July 29, 2019. Concurrently with the repayment, the Shelf Noteholders authorized and directed PNC Bank, National Association, in its capacity as Collateral Agent (as defined in the Shelf Note Agreement) to release the security interests and liens securing the Shelf Note Agreement and the Shelf Note Agreement was terminated. As a result of the repayment described above, the Company expensed approximately $4.2 million primarily consisting of prepayment premiums associated with the debt payoff activity and the write-off of unamortized deferred financing fees, as the payoff meets the criteria to be accounted for as a debt extinguishment. Repayment of PNC Credit Agreement On the Closing Date, using borrowings of the new Bridge Loan Facility the Company repaid in full all of its and its subsidiaries indebtedness and other obligations totaling $239.2 million under the PNC Credit Agreement. Concurrently with the repayment, all security interests and liens held by the Collateral Agent (as defined in the PNC Credit Agreement) securing the PNC Credit Agreement were terminated and released and the PNC Credit Agreement was terminated. As a result of the repayment described above, the Company expensed approximately $2.0 million primarily consisting of the write-off of unamortized deferred financing fees associated with the debt payoff activity, as the payoff meets the criteria to be accounted for as a debt extinguishment. Letters of credit outstanding at March 31, 2019 amounted to $8.5 million, and reduced the availability of the revolving credit facilities under the PNC Credit Agreement with PNC Bank, National Association, as administrative agent and various financial institutions thereto at March 31, 2019. Issuance of Senior Notes due 2027 On September 23, 2019, the Company issued $350.0 million aggregate principal amount of 5.0% senior notes due 2027 (the “Senior Notes”) pursuant to an Indenture, dated September 23, 2019 (the “Indenture”), among the Company, the guarantors party thereto (the “Guarantors”) and U.S. Bank National Association, as Trustee (the “Trustee”). The Senior Notes are guaranteed by each of the Company’s present and future direct and indirect wholly owned domestic subsidiaries that is a guarantor under the Company's Senior Secured Credit Facility. The Senior Notes were offered and sold either to persons reasonably believed to be “qualified institutional buyers” pursuant to Rule 144A under the Securities Act of 1933 (the “Securities Act”) or to persons outside the United States under Regulation S of the Securities Act. Interest on the Senior Notes will be payable semi-annually in cash in arrears on March 31 and September 30 of each year, commencing on March 31, 2020, at a rate of 5.0% per annum. The Senior Notes will mature on September 30, 2027. The Company used the majority of the net proceeds from the offering of the Senior Notes for the repayment of $300.0 million of its outstanding borrowings under the Company’s Bridge Loan Facility. The deferred financing costs associated with the Senior Notes totaled $2.1 million as of September 30, 2019 and are recorded as a direct reduction from the carrying amount of the related debt. The Company may redeem the Senior Notes, in whole or in part, at any time on or after September 30, 2022 at established redemption prices. At any time prior to September 30, 2022, the Company may also redeem up to 40% of the Senior Notes with net cash proceeds of certain equity offerings at a redemption price equal to 105.0% of the principal amount of the Senior Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date. In addition, at any time prior to September 30, 2022, the Company may redeem the Senior Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the Senior Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date plus an applicable “make-whole” premium. The Indenture contains customary events of default, including, among other things, payment default, failure to comply with covenants or agreements contained in the Indenture or the Senior Notes and certain provisions related to bankruptcy events. The Indenture also contains customary negative covenants. New Senior Secured Credit Facility On September 24, 2019, the Company successfully completed a $700 million syndication of the remaining balance of the Bridge Credit Facility subsequent to the aforementioned Common Stock Offering and Senior Notes due 2027 and in connection with the syndication, the Company amended the Base Credit Agreement (the “Senior Secured Credit Facility”). The Senior Secured Credit Facility reduced the applicable margin utilized in the determination of the interest rate, as well as other provisions. The Senior Secured Credit Facility provides for a term loan facility in an initial aggregate principal amount of $700 million (the “Term Loan Facility”), a revolving credit facility in an initial aggregate principal amount of up to $350 million (the “Revolving Credit Facility”), a letter of credit sub-facility in the initial aggregate available amount of up to $50 million, as a sublimit of such Revolving Credit Facility (the “L/C Facility”) and a swing line sub-facility in the aggregate available amount of up to $50 million, as a sublimit of the Revolving Credit Facility (together with the Term Loan Facility, the Revolving Credit Facility and the L/C Facility, the “Senior Secured Credit Facility”). Letters of credit outstanding at September 30, 2019 amounts to $8.5 million and reduced the availability of the Revolving Credit Facility. In connection with entering into the Senior Secured Credit Facility, the Company capitalized approximately $0.4 million in deferred financing fees. To the extent not previously paid, all then-outstanding amounts under the Term Loan Facility are due and payable on the maturity date of the Term Loan Facility, which is seven years from the Closing Date. Borrowings under the Revolving Credit Facility are available beginning on September 24, 2019 and, to the extent not previously paid, all then-outstanding amounts under the Revolving Credit Facility are due and payable on the maturity date of the Revolving Credit Facility, which is five years from the Closing Date. At the option of the Company, borrowings under the Term Loan Facility and under the Revolving Credit Facility (subject to certain limitations) bear interest at either a base rate (as determined pursuant to the Senior Secured Credit Facility) or at a Eurocurrency Rate, based on LIBOR (as defined in the Senior Secured Credit Facility), plus the applicable margin as set forth therein from time to time. In the case of the Revolving Credit Facility, the applicable margin is based on the Company’s consolidated senior secured net leverage ratio (as defined in the Senior Secured Credit Facility). All borrowings under the Term Loan Facility used to finance the Merger Consideration as described above initially bear interest at a Eurocurrency Rate applicable to Eurocurrency Loans (as defined in the Senior Secured Credit Facility) denominated in U.S. Dollars. The Company is also required to pay a commitment fee that is based upon the undrawn amounts of the Revolving Credit Facility at a rate per annum based upon a calculated ratio as prescribed within the Senior Secured Credit Facility. As of September 30, 2019, the rate the Company was committed to paying on the undrawn portion was equal to 0.2%. The Company’s obligations under the Senior Secured Credit Facility have been secured by granting a first priority lien on substantially all of the Company’s assets (subject to certain exceptions and limitations), and each of Stormtech, LLC, Advanced Drainage of Ohio, Inc. and Infiltrator Water Technologies, LLC (collectively the “Guarantors”) has agreed to guarantee the obligations of the Company under the Senior Secured Credit Facility and to secure the obligations thereunder by granting a first priority lien in substantially all of such Guarantor’s assets (subject to certain exceptions and limitations). Principal Maturities – Maturities of long-term debt (excluding interest and deferred financing costs) as of September 30, 2019 are summarized below: Twelve Months Ended September 30, (Amounts in thousands) 2020 2021 2022 2023 2024 Thereafter Total Principal maturities $ 6,195 $ 7,931 $ 7,084 $ 7,000 $ 7,000 $ 1,016,753 $ 1,051,963

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Sep. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments and Contingencies	1 2 . 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 non-cancelable purchase contracts in place at September 30, 2019, the Company has agreed to purchase resin over the period October 2019 through December 2019 at a committed purchase cost of $5.9 million. The Company enters into equipment purchase contracts with manufacturers. Under such non-cancelable purchase contracts in place at September 30, 2019, the Company has agreed to purchase equipment to be delivered in fourth quarter of fiscal 2020 at a committed purchase cost of $1.4 million. Litigation and Other Proceedings – On July 29, 2015, a putative stockholder class action, Christopher Wyche, individually and on behalf of all others similarly situated v. Advanced Drainage Systems, Inc., et al. (Case No. 1:15-cv-05955-KPF), was commenced in the U.S. District Court for the Southern District of New York (the “District Court”), naming the Company, along with Joseph A. Chlapaty, the Company’s former Chief Executive Officer, and Mark B. Sturgeon, the Company’s former Chief Financial Officer, as defendants and alleging violations of the federal securities laws. An amended complaint was filed on April 28, 2016. The amended complaint alleged that the Company made material misrepresentations and/or omissions of material fact in its public disclosures during the period from July 25, 2014 through March 29, 2016, in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated thereunder. On March 10, 2017, the District Court dismissed plaintiff’s claims against all defendants in their entirety and with prejudice. Plaintiff appealed to the United States Court of Appeals for the Second Circuit, and on October 13, 2017 the District Court’s judgment was affirmed by the Second Circuit. On October 27, 2017, plaintiff filed a petition for rehearing with the Second Circuit. The Second Circuit denied the petition for rehearing on November 28, 2017. On November 27, 2018, the plaintiff filed with the District Court a motion for relief from final judgment and for leave to file an amended complaint, which , the defendants opposed. On July 3, 2019, the District Court denied the plaintiff’s motion. The Plaintiff did not appeal the District Court’s decision and the matter is concluded. 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. Other Commitments and Contingencies In March 2019, the Company initiated an internal investigation process, under the guidelines of the Company’s Code of Business Conduct and Ethics, into its consolidated joint venture affiliate ADS Mexicana’s senior management’s ethical and business conduct, as well as compliance of certain products with, along with considerations into, Mexican laws and regulations over the previous 12 months. The Company has recorded an accrual for the current estimate of probable losses resulting from the investigation which is not material to our Condensed Consolidated Financial Statements. However due to the inherent uncertainties in determining the use, installation application and location of our ADS Mexicana products sold, along with the consideration of Mexican laws and regulations related to warranty and product liability obligations, the Company is unable to determine the maximum potential future losses that may occur, which could be material to the Condensed Consolidated Financial Statements.

Income Taxes

Income Taxes	6 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	1 3 . INCOME TAXES 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 one-time charges, as well as discrete events. For the three months ended September 30, 2019 and 2018, the Company utilized an effective tax rate of (75.3%) and 28.9%, respectively, to calculate its provision for income taxes. The decrease in the effective tax rate is primarily driven by the nearly break-even pre-tax income in the second quarter of fiscal 2020 compared to the second quarter of fiscal 2019 and the changes to the Company’s projected annual effective tax rate. The change in the Company’s projected annual effective tax rate was due to the financial results of the recent acquisition of Infiltrator Water Technologies. Further, the Company recognized additional expense of approximately $1.1 million related to non-deductible transaction costs. Consistent with the three months ended September 30, 2018, state and local income taxes and the Company’s ESOP increased the rate for the three months ended September 30, 2019. For the six months ended September 30, 2019 and 2018, the Company utilized an effective tax rate of (9.4%) and 29.4%, respectively, to calculate its provision for income taxes. In addition to the special dividend made on June 14, 2019, there were additional transaction costs related to the Infiltrator Acquisition noted above, that attributed to large pretax losses for the six months ended September 30, 2019, that did not occur in the comparison period. Consistent with the six months ended September 30, 2018, state and local income taxes and the Company’s ESOP increased the rate for the six months ended September 30, 2019. Additionally, the effective tax rate for the six months ended September 30, 2019 differed from the federal statutory rate primarily due to a $60.7 million discrete income tax expense. This discrete event related to the 11.6 million shares allocated from the ESOP as a result of the special dividend made on June 14, 2019 and the Company recognizing approximately $246.8 million in additional stock-based compensation expense. Of the total stock- based compensation expense, approximately $ 237.6 million related to non-deductible stock appreciation. This discrete event reduced the effective tax rate by 30.3% . As discussed in “Note 3. Acquisitions”, the Company acquired Infiltrator Water Technologies on July 31, 2019. The unrecognized tax benefits increased by $1.4 million during the quarter, related to positions taken by Infiltrator Water Technologies prior to the Acquisition. Infiltrator Water Technologies was previously indemnified for this position, and based on the nature of the Acquisition, the indemnification is still in place. Lastly, as part of the purchase price, approximately $109.9 million was attributed to deferred tax liabilities. Of the $109.9 million, $59.8 million related to the step up of GAAP basis for fair market valuations, while the remaining $50.1 million were acquired deferred tax liabilities. Of the total $59.8 million, $55.7 million was attributed to intangibles.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Sep. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Stock-Based Compensation	1 4 . 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 and six months ended September 30, 2019 and 2018: Three Months Ended September 30, Six Months Ended September 30, 2019 2018 2019 2018 (In thousands) (In thousands) Component of income before income taxes: Cost of goods sold $ 189 $ 82 $ 301 $ 144 Selling expenses 179 50 235 86 General and administrative expenses 2,803 1,680 4,476 3,141 Total stock-based compensation expense $ 3,171 $ 1,812 $ 5,012 $ 3,371 The following table summarizes stock-based compensation expense by award type for the three and six months ended September 30, 2019 and 2018: Three Months Ended September 30, Six Months Ended September 30, 2019 2018 2019 2018 (In thousands) (In thousands) Stock-based compensation expense: Equity-classified Stock Options $ 700 $ 795 $ 1,251 $ 1,568 Restricted Stock 957 528 1,599 974 Performance Units 1,201 235 1,573 332 Non-Employee Directors 313 254 589 497 Total stock-based compensation expense $ 3,171 $ 1,812 $ 5,012 $ 3,371 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. Restricted Stock - During the three and six months ended September 30, 2019, the Company granted 0.1 million and 0.2 million shares of restricted stock with a grant date fair value of $3.6 million and $6.9 million, respectively. In addition, during the six months ended September 30, 2019, the Company granted 0.1 million performance units, subject to performance and services conditions. The grant date fair value of the performance units was $3.4 million, based on the market price of the Company’s common stock at the date of the grant. For 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. The performance units have a 3-year performance period from April 1, 2019 through March 31, 2022. The performance units, and any accrued dividend equivalents, will be settled in shares of the Company’s common stock, if the applicable performance and service conditions are satisfied. Options - During the six months ended September 30, 2019, the Company granted 0.3 million nonqualified stock options under the 2017 Incentive Plan. The grant date fair value of the nonqualified stock options was $2.7 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 six months ended September 30, 2019: Three Months Ended September 30, Common stock price $27.44 Expected stock price volatility 30.9% Risk-free interest rate 2.3% Weighted-average expected option life (years) 6.0 Dividend yield 1.3%

Business Segments Information

Business Segments Information	6 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Business Segments Information	1 5 . Following the Acquisition of Infiltrator Water Technologies, the Company revised its reportable segments to reflect how the Chief Operating Decision Maker (“CODM”) currently reviews financial information and makes operational decisions. After the Acquisition, ADS operates its business in three distinct reportable segments: “Pipe”, “International” and “Infiltrator Water Technologies.” “Allied Products & Other” represents the Company’s Allied Products and all other business segments. “Pipe” and “Allied Products & Other” were previously included as Domestic. With the change in reportable segments, the CODM is now evaluating segment reporting based on Net Sales and Segment Adjusted Gross Profit. The Company calculated Segment Adjusted Gross Profit as net sales less costs of goods sold, depreciation and amortization, stock-based compensation and non-cash charges. A measure of assets is not applicable, as segment assets are not regularly reviewed by the CODM for evaluating performance or allocating resources. The prior period segment results and related disclosures have been recast to conform to the current year presentation. Pipe – The Pipe segment manufactures and markets high performance thermoplastic corrugated pipe throughout the United States. The Company maintains and serves these markets through product distribution relationships with many of the largest national and independent waterworks distributors, buying groups and co-ops, major national retailers as well as an extensive network of hundreds of small to medium-sized distributors across the U.S. Products include single wall pipe, N-12 HDPE pipe sold into the Storm sewer, Infrastructure and Agriculture markets, High Performance polypropylene pipe sold into the Storm sewer, Infrastructure and sanitary sewer markets. Products are designed primarily for storm water management in the construction and infrastructure marketplace across a broad range of end markets and applications, including non-residential, residential, agriculture and infrastructure. Products are manufactured using HDPE and polypropylene plastic material. Infiltrator Water Technologies – Infiltrator Water Technologies is a leading national provider of plastic leach field chambers and systems, septic tanks and accessories, primarily for use in residential applications. Infiltrator Water Technologies products are used in on-site septic wastewater treatment systems in the United States and Canada. International – The International segment manufactures and markets pipe and allied products in certain regions outside of the United States, including Company owned facilities in Canada, subsidiaries that distribute to Europe and the Middle East, exports and through the Company’s joint ventures with local partners in Mexico and South America. The Company’s Mexican joint venture, ADS Mexicana, primarily serves the Mexican and Central American markets, while its South American Joint Venture, Tigre-ADS, is the primary channel to serve the South American markets. The Company’s International product lines include single wall pipe, N-12 HDPE pipe, high performance PP pipe and certain geographies also sell our broad line of Allied Products. Allied Products & Other – Allied Products and Other manufactures and markets products throughout the United States. Products include StormTech, Nyloplast, ARC Septic Chambers, Inserta Tee, BaySaver filters and water quality structures, Fittings, and FleXstorm. The Company maintains and serves these markets through product distribution relationships with many of the largest national and independent waterworks distributors, major national retailers as well as an extensive network of hundreds of small to medium-sized distributors across the U.S. The Company also sells through a broad variety of buying groups and co-ops in the United States. The following table sets forth reportable segment information with respect to the amount of Net sales contributed by each class of similar products for the periods presented: Three Months Ended September 30, 2019 September 30, 2018 Net Sales Intersegment Net Sales Net Sales from External Customers Net Sales Intersegment Net Sales Net Sales from External Customers Pipe $ 281,405 $ (342 ) $ 281,063 $ 249,380 $ — $ 249,380 Infiltrator Water Technologies 64,889 (12,189 ) 52,700 — — — International International - Pipe 34,617 — 34,617 44,008 — 44,008 International - Allied Products 13,167 — 13,167 11,278 — 11,278 Total International 47,784 — 47,784 55,286 — 55,286 Allied Products & Other 114,358 — 114,358 101,889 — 101,889 Intersegment Eliminations (12,531 ) 12,531 — — — — Total Consolidated $ 495,905 $ — $ 495,905 $ 406,555 $ — $ 406,555 Six Months Ended September 30, 2019 September 30, 2018 Net Sales Intersegment Net Sales Net Sales from External Customers Net Sales Intersegment Net Sales Net Sales from External Customers Pipe $ 543,586 $ (342 ) $ 543,244 $ 491,450 $ — $ 491,450 Infiltrator Water Technologies 64,889 (12,189 ) 52,700 — — — International International - Pipe 63,902 — 63,902 78,456 — 78,456 International - Allied Products 23,216 — 23,216 22,179 — 22,179 Total International 87,118 — 87,118 100,635 — 100,635 Allied Products & Other 226,551 — 226,551 202,317 — 202,317 Intersegment Eliminations (12,531 ) 12,531 — — — — Total Consolidated $ 909,613 $ — $ 909,613 $ 794,402 $ — $ 794,402 The following sets forth certain financial information attributable to the reportable segments for the periods presented. Three Months Ended September 30, Six Months Ended September 30, 2019 2018 2019 2018 (In thousands) (In thousands) Segment adjusted gross profit Pipe $ 74,246 $ 53,561 $ 131,739 $ 112,027 Infiltrator Water Technologies 30,144 — 30,144 — International 10,841 12,088 20,068 21,874 Allied Products & Other 57,621 47,160 114,808 96,172 Intersegment Elimination (978 ) — (978 ) — Total $ 171,874 $ 112,809 $ 295,781 $ 230,073 Depreciation and amortization Pipe $ 11,557 $ 11,811 $ 23,104 $ 24,030 Infiltrator Water Technologies 1,859 — 1,859 — International 1,590 1,524 3,097 3,021 Allied Products & Other (a) 11,560 4,201 15,200 8,312 Total $ 26,566 $ 17,536 $ 43,260 $ 35,363 Capital expenditures Pipe $ 9,383 $ 9,303 $ 16,357 $ 14,016 Infiltrator Water Technologies 3,883 — 3,883 — International 623 816 1,877 1,808 Allied Products & Other (a) 2,010 2,306 3,505 3,475 Total $ 15,899 $ 12,425 $ 25,622 $ 19,299 (a) Includes depreciation and amortization and capital expenditures not allocated to a reportable segment. Reconciliation of Gross Profit to Segment Adjusted Gross profit Three Months Ended September 30, Six Months Ended September 30, 2019 2018 2019 2018 (In thousands) (In thousands) Reconciliation of Segment Adjusted Gross Profit: Total Gross Profit $ 146,524 $ 95,373 $ 84,366 $ 195,064 Depreciation and amortization 15,708 14,354 29,392 29,072 ESOP and stock-based compensation expense 3,869 3,082 7,640 5,937 ESOP special dividend compensation — — 168,610 — Inventory step up related to Infiltrator Water Technologies acquisition 5,773 — 5,773 — Total Segment Adjusted Gross Profit $ 171,874 $ 112,809 $ 295,781 $ 230,073

Subsequent Events

Subsequent Events	6 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	1 6 . Common Stock Dividend - During the third quarter of fiscal 2020, the Company declared a quarterly cash dividend of $0.09 per share of common stock. The dividend is payable on December 13, 2019 to stockholders of record at the close of business on November 29, 2019.

Background and Summary of Sig_2

Background and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 30, 2019
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, 2019 was derived from audited financial statements included in the Annual Report on Form 10-K for the year ended March 31, 2019 (“Fiscal 2019 Form 10-K”). The accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, of a normal recurring nature, necessary to present fairly its financial position as of September 30, 2019 and the results of operations and cash flows for the three and six months ended September 30, 2019. 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 2019 Form 10-K.
Principles of Consolidation	Principles of Consolidation - The Condensed Consolidated Financial Statements include the Company, its wholly-owned subsidiaries, its majority-owned subsidiaries and variable interest entities (“VIEs”) of which the Company is the primary beneficiary. The Company uses the equity method of accounting for equity investments where it exercises significant influence but does not hold a controlling financial interest. Such investments are recorded in Other assets in the Condensed Consolidated Balance Sheets and the related equity earnings from these investments are included in Equity in net loss of unconsolidated affiliates in the Condensed Consolidated Statements of Operations. All intercompany balances and transactions have been eliminated in consolidation.
Recent Accounting Guidance	Recent Accounting Guidance Recently Adopted Accounting Guidance Leases - In February 2016, the Financial Accounting Standards Board (the “FASB”) issued an accounting standard update (“ASU”) which amends the guidance for leases (“ASC 842”). 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. In July 2018, the FASB amended ASC 842 to provide another transition method, allowing a cumulative effect adjustment to the opening balance of retained earnings during the period of adoption. The Company adopted these standards effective April 1, 2019 using the transition method in the July 2018 ASU which does not require adjustments to comparative periods or require modified disclosures for those periods and includes transition relief practical expedients. “Note 5 . Leases” for further information on the adoption of the new lease ASUs. Hedge Accounting - In August 2017, the FASB issued an ASU which expanded an entity’s ability to apply hedge accounting for non-financial and financial risk components and provided a simplified approach for fair value hedging of interest rate risk. The standard also refined how entities assess hedge effectiveness. The Company adopted this standard effective April 1, 2019. The new standard did not have an impact on the Condensed Consolidated Financial Statements. Recent Accounting Guidance Not Yet Adopted 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. Except for the pronouncements described above, there have been no new accounting pronouncements issued or adopted since the filing of the Fiscal 2019 Form 10-K that have significance, or potential significance, to the Condensed Consolidated Financial Statements.
Leases	ASC 842 Adoption - The Company adopted the provisions of ASC 842 beginning on April 1, 2019 using the transition methodology in ASC 842 which does not require adjustments to comparative periods or require modified disclosures. The Company elected the transition relief practical expedient package as described in ASC 842-10-65-1. ASC 842 provides lessees with the option of electing an accounting policy, by class of underlying asset, in which the lessee may choose not to separate nonlease components from lease components. The Company elected this practical expedient for leases of certain classes of equipment, including forklifts and fleet tractors and trailers. The Company also elected the accounting policy to not recognize the right-of-use asset and lease liability for leases with an initial expected term of 12 months or less (“Short-term leases”). The adoption of ASC 842 resulted in the recording of $13.3 million of additional lease liabilities and right-of-use assets to the beginning balance of the Company’s Condensed Consolidated Balance Sheet. Infiltrator Water Technologies adopted ASC 842 on July 31, 2019 using the same methodology and policy elections taken by the Company on April 1, 2019. The Infiltrator Water Technologies adoption of ASC 842 resulted in the recording of $11.2 million of additional lease liabilities and corresponding right-of-use assets to the beginning balance of the Company’s Condensed Consolidated Balance Sheet as of September 30, 2019. The adoption did not have an impact on the Company’s Condensed Consolidated Statement of Operations and Condensed Consolidated Statement of Cash Flows. Nature of the Company’s Leases - The Company has operating and finance leases for plants, yards, corporate offices, tractors, trailers and other equipment. The Company’s leases have a remaining term of less than one year to 30 years. A portion of the Company’s yard leases include an option to extend the leases for up to 5 years. The Company has included renewal options which are reasonably certain to be excised in its right-of-use asset and lease liability. The Company’s lease payments are generally fixed. Certain equipment leases contain residual value guarantees that create a contingent obligation on the part of the Company to compensate the lessor if the leased asset cannot be sold for an amount in excess of a specified minimum value at the conclusion of the lease term. The calculation is based on the original cost of the transportation equipment, less lease payments made, compared to a percentage of the transportation equipment’s fair market value at the time of sale. All leased units covered by this guarantee have been classified as finance leases and a corresponding finance lease obligation was recorded. Therefore, no contingent obligation is needed. F or all leases with an initial expected term of more than 12 months, the Company recorded, at the adoption date of ASC 842 or lease commencement date for leases entered into after the adoption date , a lease liability, which is the lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and a right-of-use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. The Company will utilize its collateralized incremental borrowing rate commensurate to the lease term as the discount rate for its leases , unless the Company can specifically determine the lessor’s implicit rate. The incremental borrowing rate for each lease is determined based on the Company’s credit rating, adjusted for the impacts of collateral , and the lease term .

Loss on Disposal of Assets an_2

Loss on Disposal of Assets and Costs from Exit and Disposal Activities (Tables)	6 Months Ended
	Sep. 30, 2019
Discontinued Operations And Disposal Groups [Abstract]
Summary of Loss on Disposal of Assets and Costs from Exit and Disposal Activities	The following table summarizes the activity included in Loss on disposal of assets and costs from exit and disposal activities recorded during the three and six months ended September 30, 2019 and 2018: Three Months Ended September 30, Six Months Ended September 30, 2019 2018 2019 2018 (In thousands) (In thousands) Accelerated depreciation $ — $ 430 $ — $ 430 Plant severance — 118 — 83 Product optimization — 303 — 303 Other restructuring activities — 171 — 202 Total 2018 Restructuring Plan activities $ — $ 1,022 $ — $ 1,018 Loss (gain) on other disposals and partial disposals of property, plant and equipment 444 (698 ) 1,151 410 Acquisition related severance costs 1,560 — 1,560 — Total loss on disposal of assets and costs from exit and disposal activities $ 2,004 $ 324 $ 2,711 $ 1,428
Schedule of Reconciliation of Restructuring Liability	A reconciliation of the beginning and ending amounts of restructuring liability related to the 2018 Restructuring Plan at September 30, 2019 and 2018 is as follows: Six Months Ended September 30, 2019 2018 (In thousands) Balance at the beginning of the period $ 1,696 $ 3,901 Expenses — 214 Non-cash expenses — 59 Payments (842 ) (1,867 ) Balance at the end of the period $ 854 $ 2,307

Acquisitions (Tables)

Acquisitions (Tables) - IWT [Member]	6 Months Ended
	Sep. 30, 2019
Business Acquisition [Line Items]
Summary of Consideration Transferred and Preliminary Purchase Price Allocation of Assets Acquired and Liabilities Assumed	The following table summarizes the consideration transferred and the preliminary purchase price allocation of the assets acquired and liabilities assumed. (Amounts in thousands) Amount Cash $ 57,375 Total current assets, excluding cash 75,847 Property, plant and equipment, net 98,860 Goodwill 567,034 Intangible assets, net 475,000 Other assets 14,366 Total current liabilities (22,756 ) Deferred tax liabilities (109,926 ) Other liabilities (9,274 ) Total fair value of consideration transferred $ 1,146,526
Summary of Identifiable Intangible Assets	The identifiable intangible assets recorded in connection with the closing of the Acquisition are based on valuations including customer relationships, patents and developed technology, and tradename and trademarks totaling $475.0 million. Customer relationships are amortized using an accelerated method over an estimated useful life of 15 years. Patents and developed technology and tradename and trademarks are on a straight-line basis over the respective useful lives of 10 and 20 years. (Amounts in thousands) Preliminary fair value Estimated useful lives Customer relationships $ 270,000 15 years Patents and developed technology 140,000 10 years Tradename and trademarks 65,000 20 years Total identifiable intangible assets $ 475,000
Summary of Unaudited Pro Forma Information	The unaudited pro forma information for the three and six months ended September 30, 2019 and 2018 presented below includes the effects of the Acquisition as if it had been consummated as of April 1, 2018, with adjustments to give effect to pro forma events that are directly attributable to the Acquisition. Three Months Ended September 30, Six Months Ended September 30, (Amounts in thousands) 2019 2018 2019 2018 Net sales $ 512,072 $ 466,484 $ 996,016 $ 917,533 Net income (loss) attributable to ADS 45,494 30,374 (170,777 ) 6,020

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Sep. 30, 2019
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 September 30, 2019 and March 31, 2019: September 30, 2019 March 31, 2019 (In thousands) Contract asset - product returns $ 1,069 $ 646 Refund liability 2,429 1,372

Leases (Tables)

Leases (Tables)	6 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Schedule of Components of Lease Cost	Lease Cost - The components of lease cost for the three and six months ended September 30, 2019 was as follows: (Amounts in thousands) Income Statement Classification Three Months Ended September 30, 2019 Six Months Ended September 30, 2019 Operating lease cost Operating lease cost Cost of goods sold $ 1,179 $ 2,127 Operating lease cost General and administrative 399 489 Short-term lease cost Cost of goods sold 588 1,324 Total operating lease cost $ 2,166 $ 3,940 Finance lease cost Amortization of right-of-use assets Cost of goods sold 5,345 9,899 Amortization of right-of-use assets General and administrative 361 717 Interest on lease liabilities Interest expense 1,168 2,327 Total finance lease cost $ 6,874 $ 12,943
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases for the six months ended September 30, 2019 was as follows: (Amounts in thousands) 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 2,616 Operating cash flows from finance leases 2,434 Financing cash flows from finance leases 12,375 Right-of-use assets obtained in exchange for lease obligations: Operating leases 4,774 Finance leases (a) 1,469 (a) The Company acquired $11.9 million of property, plant and equipment under finance leases in the six months ended September 30, 2018.
Schedule of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases as of September 30, 2019 was as follows: (Amounts in thousands) Balance Sheet Classification 2019 Operating leases Right-of-use assets Other assets $ 24,010 Current lease liabilities Other accrued liabilities 6,604 Non-current lease liabilities Other liabilities 17,340 Total operating lease liabilities $ 23,944 Finance leases Right-of-use assets Property, plant and equipment 102,948 Current lease liabilities Current maturities of finance lease obligations 22,555 Non-current lease liabilities Long-term finance lease obligations 52,746 Total finance lease liabilities $ 75,301 Weighted average lease term Operating leases 7.18 Finance leases 10.88 Weighted average discount rate Operating leases 3.53 % Finance leases 4.96 %
Schedule of Future Minimum Lease Payments on Rolling Twelve-month Basis under Operating and Finance Leases	The following is a schedule by year of future minimum lease payments on a rolling twelve-month basis under operating and finance leases and the present value of the net minimum lease payments as of September 30, 2019: (Amounts in thousands) Operating Leases Finance Leases Year 1 $ 7,443 $ 25,926 Year 2 6,012 21,258 Year 3 3,742 15,777 Year 4 2,409 9,722 Year 5 1,663 5,740 Thereafter 6,719 6,525 Total minimum lease payments $ 27,988 $ 84,948 Less: amount representing interest 4,044 9,647 Present value of net minimum lease payments $ 23,944 $ 75,301
Schedule of Contractual Obligations for Capital and Operating Leases	As of March 31, 2019, total contractual obligations for capital and operating leases were as follows: (Amounts in thousands) Operating Leases Capital Leases 2020 $ 4,159 $ 26,604 2021 2,924 22,507 2022 1,814 18,064 2023 690 11,721 2024 325 7,143 Thereafter 2,236 8,198 Total minimum lease payments $ 12,148 $ 94,237 Less: amount representing interest — 9,565 Present value of net minimum lease payments $ 12,148 $ 84,672

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories as of the periods presented consisted of the following: September 30, 2019 March 31, 2019 (In thousands) Raw materials $ 60,243 $ 47,910 Finished goods 188,671 216,630 Total inventories $ 248,914 $ 264,540

Fair Value Measurement (Tables)

Fair Value Measurement (Tables)	6 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Carried at Fair Value	The assets and liabilities carried at fair value as of the periods presented were as follows: September 30, 2019 Total Level 1 Level 2 Level 3 (In thousands) Assets: Derivative assets – diesel fuel contracts $ 20 $ — $ 20 $ — Total assets at fair value on a recurring basis $ 20 $ — $ 20 $ — Liabilities: Derivative liabilities – diesel fuel contracts $ 81 $ — $ 81 $ — Total liabilities at fair value on a recurring basis $ 81 $ — $ 81 $ — March 31, 2019 Total Level 1 Level 2 Level 3 (In thousands) Assets: Derivative assets – diesel fuel contracts $ 189 $ — $ 189 $ — Interest rate swaps 1,088 — 1,088 — Total assets at fair value on a recurring basis $ 1,277 $ — $ 1,277 $ — Liabilities: Derivative liability - diesel fuel contracts $ 283 $ — $ 283 $ — Foreign exchange contracts 60 — 60 — Contingent consideration for acquisitions 203 — — 203 Total liabilities at fair value on a recurring basis $ 546 $ — $ 343 $ 203
Summary of Changes in Fair Value of Recurring Fair Value Measurements Using Unobservable Inputs	Changes in the fair value of recurring fair value measurements using significant unobservable inputs (Level 3) for the periods presented were as follows: Three Months Ended September 30, Six Months Ended September 30, 2019 2018 2019 2018 (In thousands) (In thousands) Balance at the beginning of the period $ 57 $ 460 $ 203 $ 578 Change in fair value 40 7 40 9 Payments of contingent consideration liability (17 ) (142 ) (163 ) (262 ) Balance at the end of the period $ 80 $ 325 $ 80 $ 325

Derivative Transactions (Tables

Derivative Transactions (Tables)	6 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of Cash Settlements and Net Losses and Net (Gains) on Mark-to-Market Adjustments for Changes in Fair Value of Derivative Contracts	The Company recorded net losses and net (gains) on mark-to-market adjustments for changes in the fair value of derivatives contracts as well as net losses and net (gains) on the settlement of derivative contracts as follows: Three Months Ended September 30, Six Months Ended September 30, 2019 2018 2019 2018 (In thousands) (In thousands) Diesel fuel option collars $ 7 $ 154 $ 76 $ 142 Interest rate swaps — (430 ) 1,726 (1,043 ) Foreign exchange forward contracts — — (7 ) — Total net unrealized mark-to-market (gains) loss $ 7 $ (276 ) $ 1,795 $ (901 ) Diesel fuel option collars 150 (266 ) 157 (574 ) Foreign exchange forward contracts 102 (39 ) 102 (90 ) Interest rate swaps 710 (67 ) 544 (92 ) Total net realized loss (gains) $ 962 $ (372 ) $ 803 $ (755 )

Net Income Per Share and Stoc_2

Net Income Per Share and Stockholders' Equity (Tables)	6 Months Ended
	Sep. 30, 2019
Net Income Per Share And Stockholders Equity [Abstract]
Summary of Net Income Per Share	The following table presents information necessary to calculate net income per share for the periods presented, as well as potentially dilutive securities excluded from the weighted average number of diluted common shares outstanding because their inclusion would have been anti-dilutive: Three Months Ended September 30, Six Months Ended September 30, (In thousands, except per share data) 2019 2018 2019 2018 NET INCOME PER SHARE—BASIC: Net income (loss) attributable to ADS $ 7,589 $ 28,670 $ (218,767 ) $ 60,950 Adjustments for: Dividends to redeemable convertible preferred stockholders (1,355 ) (478 ) (8,196 ) (975 ) Dividends paid to unvested restricted stockholders (4 ) (15 ) (330 ) (30 ) Net income (loss) available to common stockholders and participating securities 6,230 28,177 (227,293 ) 59,945 Undistributed income allocated to participating securities (204 ) (2,310 ) — (5,022 ) Net income (loss) available to common stockholders – Basic $ 6,026 $ 25,867 $ (227,293 ) $ 54,923 Weighted average number of common shares outstanding – Basic 60,222 56,929 58,906 56,776 Net income (loss) per common share – Basic $ 0.10 $ 0.45 $ (3.86 ) $ 0.97 NET INCOME PER SHARE—DILUTED: Net income (loss) available to common stockholders – Diluted $ 6,026 $ 25,867 $ (227,293 ) $ 54,923 Weighted average number of common shares outstanding – Basic 60,222 56,929 58,906 56,776 Assumed exercise of stock options 576 629 — 598 Restricted stock 78 — — — Weighted average number of common shares outstanding – Diluted 60,876 57,558 58,906 57,374 Net income (loss) per common share – Diluted $ 0.10 $ 0.45 $ (3.86 ) $ 0.96 Potentially dilutive securities excluded as anti-dilutive 15,084 6,303 13,269 6,229

Debt (Tables)

Debt (Tables)	6 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt as of the periods presented consisted of the following: September 30, 2019 March 31, 2019 (In thousands) Term Loan Facility $ 700,000 $ — Senior Notes 350,000 — Revolving Credit Facility — — PNC Credit Agreement — 134,400 Prudential Senior Notes — 100,000 Equipment financing 1,963 2,427 Total 1,051,963 236,827 Unamortized debt issuance costs (2,614 ) (2,293 ) Current maturities (6,195 ) (25,932 ) Long-term debt obligation $ 1,043,154 $ 208,602
Maturities of Long-term Debt (Excluding Interest and Deferred Financing Costs)	Maturities of long-term debt (excluding interest and deferred financing costs) as of September 30, 2019 are summarized below: Twelve Months Ended September 30, (Amounts in thousands) 2020 2021 2022 2023 2024 Thereafter Total Principal maturities $ 6,195 $ 7,931 $ 7,084 $ 7,000 $ 7,000 $ 1,016,753 $ 1,051,963

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Sep. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Summary of Stock-based Compensation Expense	The Company recognized stock-based compensation expense in the following line items of the Condensed Consolidated Statements of Operations for the three and six months ended September 30, 2019 and 2018: Three Months Ended September 30, Six Months Ended September 30, 2019 2018 2019 2018 (In thousands) (In thousands) Component of income before income taxes: Cost of goods sold $ 189 $ 82 $ 301 $ 144 Selling expenses 179 50 235 86 General and administrative expenses 2,803 1,680 4,476 3,141 Total stock-based compensation expense $ 3,171 $ 1,812 $ 5,012 $ 3,371 The following table summarizes stock-based compensation expense by award type for the three and six months ended September 30, 2019 and 2018: Three Months Ended September 30, Six Months Ended September 30, 2019 2018 2019 2018 (In thousands) (In thousands) Stock-based compensation expense: Equity-classified Stock Options $ 700 $ 795 $ 1,251 $ 1,568 Restricted Stock 957 528 1,599 974 Performance Units 1,201 235 1,573 332 Non-Employee Directors 313 254 589 497 Total stock-based compensation expense $ 3,171 $ 1,812 $ 5,012 $ 3,371
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 six months ended September 30, 2019: Three Months Ended September 30, Common stock price $27.44 Expected stock price volatility 30.9% Risk-free interest rate 2.3% Weighted-average expected option life (years) 6.0 Dividend yield 1.3%

Business Segments Information (

Business Segments Information (Tables)	6 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Schedule of Revenue from Reportable Segments by Product Type	The following table sets forth reportable segment information with respect to the amount of Net sales contributed by each class of similar products for the periods presented: Three Months Ended September 30, 2019 September 30, 2018 Net Sales Intersegment Net Sales Net Sales from External Customers Net Sales Intersegment Net Sales Net Sales from External Customers Pipe $ 281,405 $ (342 ) $ 281,063 $ 249,380 $ — $ 249,380 Infiltrator Water Technologies 64,889 (12,189 ) 52,700 — — — International International - Pipe 34,617 — 34,617 44,008 — 44,008 International - Allied Products 13,167 — 13,167 11,278 — 11,278 Total International 47,784 — 47,784 55,286 — 55,286 Allied Products & Other 114,358 — 114,358 101,889 — 101,889 Intersegment Eliminations (12,531 ) 12,531 — — — — Total Consolidated $ 495,905 $ — $ 495,905 $ 406,555 $ — $ 406,555 Six Months Ended September 30, 2019 September 30, 2018 Net Sales Intersegment Net Sales Net Sales from External Customers Net Sales Intersegment Net Sales Net Sales from External Customers Pipe $ 543,586 $ (342 ) $ 543,244 $ 491,450 $ — $ 491,450 Infiltrator Water Technologies 64,889 (12,189 ) 52,700 — — — International International - Pipe 63,902 — 63,902 78,456 — 78,456 International - Allied Products 23,216 — 23,216 22,179 — 22,179 Total International 87,118 — 87,118 100,635 — 100,635 Allied Products & Other 226,551 — 226,551 202,317 — 202,317 Intersegment Eliminations (12,531 ) 12,531 — — — — Total Consolidated $ 909,613 $ — $ 909,613 $ 794,402 $ — $ 794,402
Schedule of Financial Information Attributable to Reportable Segments	The following sets forth certain financial information attributable to the reportable segments for the periods presented. Three Months Ended September 30, Six Months Ended September 30, 2019 2018 2019 2018 (In thousands) (In thousands) Segment adjusted gross profit Pipe $ 74,246 $ 53,561 $ 131,739 $ 112,027 Infiltrator Water Technologies 30,144 — 30,144 — International 10,841 12,088 20,068 21,874 Allied Products & Other 57,621 47,160 114,808 96,172 Intersegment Elimination (978 ) — (978 ) — Total $ 171,874 $ 112,809 $ 295,781 $ 230,073 Depreciation and amortization Pipe $ 11,557 $ 11,811 $ 23,104 $ 24,030 Infiltrator Water Technologies 1,859 — 1,859 — International 1,590 1,524 3,097 3,021 Allied Products & Other (a) 11,560 4,201 15,200 8,312 Total $ 26,566 $ 17,536 $ 43,260 $ 35,363 Capital expenditures Pipe $ 9,383 $ 9,303 $ 16,357 $ 14,016 Infiltrator Water Technologies 3,883 — 3,883 — International 623 816 1,877 1,808 Allied Products & Other (a) 2,010 2,306 3,505 3,475 Total $ 15,899 $ 12,425 $ 25,622 $ 19,299 (a) Includes depreciation and amortization and capital expenditures not allocated to a reportable segment.
Reconciliation of Gross Profit to Segment Adjusted Gross Profit	Reconciliation of Gross Profit to Segment Adjusted Gross profit Three Months Ended September 30, Six Months Ended September 30, 2019 2018 2019 2018 (In thousands) (In thousands) Reconciliation of Segment Adjusted Gross Profit: Total Gross Profit $ 146,524 $ 95,373 $ 84,366 $ 195,064 Depreciation and amortization 15,708 14,354 29,392 29,072 ESOP and stock-based compensation expense 3,869 3,082 7,640 5,937 ESOP special dividend compensation — — 168,610 — Inventory step up related to Infiltrator Water Technologies acquisition 5,773 — 5,773 — Total Segment Adjusted Gross Profit $ 171,874 $ 112,809 $ 295,781 $ 230,073

Background and Summary of Sig_3

Background and Summary of Significant Accounting Policies - Additional Information (Detail) - Segment	Jul. 31, 2019	Sep. 30, 2019
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Number of reportable segments		3
IWT [Member]
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Agreement and Plan of Merger date	Jul. 31, 2019	Jul. 31, 2019

Loss on Disposal of Assets an_3

Loss on Disposal of Assets and Costs from Exit and Disposal Activities - Summary of Loss on Disposal of Assets and Costs from Exit and Disposal Activities (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Discontinued Operations And Disposal Groups [Abstract]
Accelerated depreciation		$ 430		$ 430
Plant severance		118		83
Product optimization		303		303
Other restructuring activities		171		202
Total 2018 Restructuring Plan activities		1,022		1,018
Loss (gain) on other disposals and partial disposals of property, plant and equipment	$ 444	(698)	$ 1,151	410
Acquisition related severance costs	1,560		1,560
Total loss on disposal of assets and costs from exit and disposal activities	$ 2,004	$ 324	$ 2,711	$ 1,428

Loss on Disposal of Assets an_4

Loss on Disposal of Assets and Costs from Exit and Disposal Activities - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring plan activities	$ 1,022	$ 1,018
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			$ 200
2018 Restructuring Plan [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring plan activities		214
Pipe Segment [Member] | 2018 Restructuring Plan [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Restructuring plan activities	700	700
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	$ 300	$ 300

Loss on Disposal of Assets an_5

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	6 Months Ended
	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Expenses	$ 1,022		$ 1,018
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		$ 1,696	3,901
Expenses			214
Non-cash expenses			59
Payments		(842)	(1,867)
Balance at the end of the period	$ 2,307	$ 854	$ 2,307

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands	Jul. 31, 2019	Sep. 30, 2019	Sep. 30, 2019	Mar. 31, 2019
Business Acquisition [Line Items]
Goodwill		$ 669,753	$ 669,753	$ 102,638
IWT [Member]
Business Acquisition [Line Items]
Agreement and Plan of Merger date	Jul. 31, 2019		Jul. 31, 2019
Total fair value of consideration transferred	$ 1,146,000
Amount payable to acquire	6,000
Amount receivable from acquire	6,600
Goodwill	567,034
Deferred tax liabilities	109,926
Step up of GAAP basis for fair market valuations	59,800
Deferred tax liabilities, acquired	50,100
Transaction costs related to Acquisition		16,600	$ 20,800
Estimates transaction cost including tax		7,300	7,300
Intangible assets	$ 475,000
Net sales of acquired entity included in condensed consolidated statements of operations		$ 52,700
Earnings from operations of acquired entity included in condensed consolidated statements of operations			$ 6,900
IWT [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Intangible asset, useful life	15 years
IWT [Member] | Patents and Developed Technology [Member]
Business Acquisition [Line Items]
Intangible asset, useful life	10 years
IWT [Member] | Tradename and Trademarks [Member]
Business Acquisition [Line Items]
Intangible asset, useful life	20 years
IWT [Member] | Intangible Assets [Member]
Business Acquisition [Line Items]
Step up of GAAP basis for fair market valuations	$ 55,700
IWT [Member] | Maximum [Member]
Business Acquisition [Line Items]
Business combination measurement period	1 year

Acquisitions - Summary of Consi

Acquisitions - Summary of Consideration Transferred and Preliminary Purchase Price Allocation of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Jul. 31, 2019	Mar. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 669,753		$ 102,638
IWT [Member]
Business Acquisition [Line Items]
Cash		$ 57,375
Total current assets, excluding cash		75,847
Property, plant and equipment, net		98,860
Goodwill		567,034
Intangible assets, net		475,000
Other assets		14,366
Total current liabilities		(22,756)
Deferred tax liabilities		(109,926)
Other liabilities		(9,274)
Total fair value of consideration transferred		$ 1,146,526

Acquisitions - Summary of Ident

Acquisitions - Summary of Identifiable Intangible Assets (Detail) - IWT [Member] $ in Thousands	Jul. 31, 2019USD ($)
Business Acquisition [Line Items]
Total identifiable intangible assets, Preliminary fair value	$ 475,000
Customer Relationships [Member]
Business Acquisition [Line Items]
Total identifiable intangible assets, Preliminary fair value	$ 270,000
Total identifiable intangible assets, Estimated useful lives	15 years
Patents and Developed Technology [Member]
Business Acquisition [Line Items]
Total identifiable intangible assets, Preliminary fair value	$ 140,000
Total identifiable intangible assets, Estimated useful lives	10 years
Tradename and Trademarks [Member]
Business Acquisition [Line Items]
Total identifiable intangible assets, Preliminary fair value	$ 65,000
Total identifiable intangible assets, Estimated useful lives	20 years

Acquisitions - Summary of unaud

Acquisitions - Summary of unaudited pro forma information (Detail) - IWT [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Business Acquisition Pro Forma Information Nonrecurring Adjustment [Line Items]
Net sales	$ 512,072	$ 466,484	$ 996,016	$ 917,533
Net income (loss) attributable to ADS	$ 45,494	$ 30,374	$ (170,777)	$ 6,020

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Contract Asset and Liability (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019
Contract With Customer Asset And Liability [Abstract]
Contract asset - product returns	$ 1,069	$ 646
Refund liability	$ 2,429	$ 1,372

Leases - Additional Information

Leases - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2019	Apr. 01, 2019
Minimum [Member]
Lessee Lease Description [Line Items]
Leases remaining term	1 year
Maximum [Member]
Lessee Lease Description [Line Items]
Leases remaining term	30 years
Maximum [Member] | Yard [Member]
Lessee Lease Description [Line Items]
Leases options to extend	5 years
ASC 842 Adoption [Member]
Lessee Lease Description [Line Items]
Additional lease liabilities		$ 13.3
Right-of-use assets		$ 13.3
ASC 842 Adoption [Member] | Infiltrator Water Technologies [Member]
Lessee Lease Description [Line Items]
Additional lease liabilities	$ 11.2
Right-of-use assets	$ 11.2

Leases - Schedule of Components

Leases - Schedule of Components of Lease Cost (Detail) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Operating lease cost
Short-term lease cost	$ 588	$ 1,324
Total operating lease cost	2,166	3,940
Finance lease cost
Total finance lease cost	6,874	12,943
Cost of Goods Sold [Member]
Operating lease cost
Operating lease cost	1,179	2,127
Finance lease cost
Amortization of right-of-use assets	5,345	9,899
General and Administrative [Member]
Operating lease cost
Operating lease cost	399	489
Finance lease cost
Amortization of right-of-use assets	361	717
Interest Expense [Member]
Finance lease cost
Interest on lease liabilities	$ 1,168	$ 2,327

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 2,616
Operating cash flows from finance leases	2,434
Financing cash flows from finance leases	12,375	$ 11,619
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	4,774
Finance leases	$ 1,469

Leases - Schedule of Suppleme_2

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Parenthetical) (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Sep. 30, 2018
Leases [Abstract]
Financial leases, Right-of-use assets	$ 102,948	$ 11,900
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentNet	us-gaap:PropertyPlantAndEquipmentNet

Leases - Schedule of Suppleme_3

Leases - Schedule of Supplemental Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019	Sep. 30, 2018
Operating leases
Right-of-use assets	$ 24,010
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsNoncurrent
Current lease liabilities	$ 6,604
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherAccruedLiabilitiesCurrent
Non-current lease liabilities	$ 17,340
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent
Total operating lease liabilities	$ 23,944
Finance leases
Right-of-use assets	$ 102,948		$ 11,900
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentNet		us-gaap:PropertyPlantAndEquipmentNet
Current lease liabilities	$ 22,555	$ 23,117
Non-current lease liabilities	52,746	$ 61,555
Total finance lease liabilities	$ 75,301
Weighted average lease term
Operating leases	7 years 2 months 4 days
Finance leases	10 years 10 months 17 days
Weighted average discount rate
Operating leases	3.53%
Finance leases	4.96%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments on Rolling Twelve-month Basis under Operating and Finance Leases (Detail) $ in Thousands	Sep. 30, 2019USD ($)
Operating Leases
Year 1	$ 7,443
Year 2	6,012
Year 3	3,742
Year 4	2,409
Year 5	1,663
Thereafter	6,719
Total minimum lease payments	27,988
Less: amount representing interest	4,044
Present value of net minimum lease payments	23,944
Finance Leases
Year 1	25,926
Year 2	21,258
Year 3	15,777
Year 4	9,722
Year 5	5,740
Thereafter	6,525
Total minimum lease payments	84,948
Less: amount representing interest	9,647
Present value of net minimum lease payments	$ 75,301

Leases - Schedule of Contractua

Leases - Schedule of Contractual Obligations for Capital and Operating Leases (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Operating Leases
2020	$ 4,159
2021	2,924
2022	1,814
2023	690
2024	325
Thereafter	2,236
Total minimum lease payments	12,148
Present value of net minimum lease payments	12,148
Capital Leases
2020	26,604
2021	22,507
2022	18,064
2023	11,721
2024	7,143
Thereafter	8,198
Total minimum lease payments	94,237
Less: amount representing interest	9,565
Present value of net minimum lease payments	$ 84,672

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019
Inventory Disclosure [Abstract]
Raw materials	$ 60,243	$ 47,910
Finished goods	188,671	216,630
Total inventories	$ 248,914	$ 264,540

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($)	Sep. 30, 2019	Mar. 31, 2019
Inventory Disclosure [Abstract]
Work-in-process inventories	$ 0	$ 0

Fair Value Measurement - Summar

Fair Value Measurement - Summary of Assets and Liabilities Carried at Fair Value (Detail) - Fair Value, Measurements, Recurring [Member] - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets at fair value on a recurring basis	$ 20	$ 1,277
Contingent consideration for acquisitions		203
Total liabilities at fair value on a recurring basis	81	546
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	20	1,277
Total liabilities at fair value on a recurring basis	81	343
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration for acquisitions		203
Total liabilities at fair value on a recurring basis		203
Diesel Fuel Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	20	189
Derivative liability	81	283
Diesel Fuel Contracts [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets	20	189
Derivative liability	$ 81	283
Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		1,088
Interest Rate Swaps [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		1,088
Foreign Exchange Forward Contracts [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		60
Foreign Exchange Forward Contracts [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative assets		$ 60

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Detail) - USD ($)	6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Mar. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of assets and liabilities, additional transfers	$ 0	$ 0
Prudential Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes			$ 100,000,000
Senior notes, fair value			$ 98,900,000
Senior Notes Payable [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior notes	350,000,000
Senior notes, fair value	$ 355,300,000

Fair Value Measurement - Summ_2

Fair Value Measurement - Summary of Changes in Fair Value of Recurring Fair Value Measurements Using Unobservable Inputs (Detail) - Contingent Consideration [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Balance beginning	$ 57	$ 460	$ 203	$ 578
Change in fair value	40	7	40	9
Payments of contingent consideration liability	(17)	(142)	(163)	(262)
Balance ending	$ 80	$ 325	$ 80	$ 325

Derivative Transactions - Sched

Derivative Transactions - Schedule of Cash Settlements and Net Losses and Net (Gains) on Mark-to-Market Adjustments for Changes in Fair Value of Derivative Contracts (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivatives, Fair Value [Line Items]
Total net unrealized mark-to-market (gains) loss	$ 7	$ (276)	$ 1,795	$ (901)
Total net realized loss (gains)	962	(372)	803	(755)
Diesel Fuel Option Collars [Member]
Derivatives, Fair Value [Line Items]
Total net unrealized mark-to-market (gains) loss	7	154	76	142
Total net realized loss (gains)	150	(266)	157	(574)
Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Total net unrealized mark-to-market (gains) loss		(430)	1,726	(1,043)
Total net realized loss (gains)	710	(67)	544	(92)
Foreign Exchange Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Total net unrealized mark-to-market (gains) loss			(7)
Total net realized loss (gains)	$ 102	$ (39)	$ 102	$ (90)

Net Income Per Share and Stoc_3

Net Income Per Share and Stockholders' Equity - Summary of Net Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
NET INCOME PER SHARE—BASIC:
Net income (loss) attributable to ADS	$ 7,589	$ 28,670	$ (218,767)	$ 60,950
Dividends to redeemable convertible preferred stockholders	(1,355)	(478)	(8,196)	(975)
Dividends paid to unvested restricted stockholders	(4)	(15)	(330)	(30)
Net income (loss) available to common stockholders and participating securities	6,230	28,177	(227,293)	59,945
Undistributed income allocated to participating securities	(204)	(2,310)		(5,022)
Net income (loss) available to common stockholders – Basic	$ 6,026	$ 25,867	$ (227,293)	$ 54,923
Weighted average number of common shares outstanding – Basic	60,222	56,929	58,906	56,776
Net income (loss) per common share – Basic	$ 0.10	$ 0.45	$ (3.86)	$ 0.97
NET INCOME PER SHARE—DILUTED:
Net income (loss) available to common stockholders – Diluted	$ 6,026	$ 25,867	$ (227,293)	$ 54,923
Weighted average number of common shares outstanding – Basic	60,222	56,929	58,906	56,776
Weighted average number of common shares outstanding – Diluted	60,876	57,558	58,906	57,374
Net income (loss) per common share – Diluted	$ 0.10	$ 0.45	$ (3.86)	$ 0.96
Potentially dilutive securities excluded as anti-dilutive	15,084	6,303	13,269	6,229
Exercise of Stock Options [Member]
NET INCOME PER SHARE—DILUTED:
Dilutive securities	576	629		598
Restricted Stock [Member]
NET INCOME PER SHARE—DILUTED:
Dilutive securities	78

Net Income Per Share and Stoc_4

Net Income Per Share and Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Sep. 10, 2019	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Mar. 31, 2019	Feb. 28, 2017
Equity Class Of Treasury Stock [Line Items]
Common stock, par value		$ 0.01			$ 0.01		$ 0.01
Proceeds from issuance of common stock after deducting underwriting discounts and commissions and offering expenses	$ 300,000				$ 293,648
Stock repurchase program amount authorized								$ 50,000
Cash dividend declared			$ 0.09
Dividend payment			$ 81,600
Additional stock-based compensation expense		$ 3,171		$ 1,812	5,012	$ 3,371
Cost of Goods Sold - ESOP special dividend compensation and Selling, General and Administrative Expenses [Member]
Equity Class Of Treasury Stock [Line Items]
Additional stock-based compensation expense			$ 246,800
ESOP [Member]
Equity Class Of Treasury Stock [Line Items]
Number of redeemable convertible preferred stock allocated to ESOP participants			11,600
Amount of dividend from unallocated redeemable convertible preferred stock held in the ESOP trust to repay ESOP loan			$ 12,000
Special Dividend [Member]
Equity Class Of Treasury Stock [Line Items]
Cash dividend declared			$ 1
Dividend payable date			Jun. 14, 2019
Dividend payable, date of record			Jun. 3, 2019
Special Dividend [Member] | ESOP [Member]
Equity Class Of Treasury Stock [Line Items]
Dividend payable date			Jun. 14, 2019
Additional stock-based compensation expense					$ 246,800
Common Stock [Member]
Equity Class Of Treasury Stock [Line Items]
Aggregate shares of common stock issued and sold		10,350,000			10,350,000
Common stock repurchases, Shares		0		0	0	0
Stock repurchase program amount authorized		$ 42,100			$ 42,100
Common Stock Offering [Member]
Equity Class Of Treasury Stock [Line Items]
Aggregate shares of common stock issued and sold	10,350,000
Common stock, par value	$ 0.01
Shares price per share	$ 29.75
Proceeds from issuance of common stock after deducting underwriting discounts and commissions and offering expenses	$ 293,600

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Mar. 31, 2019
South American Joint Venture [Member]
Related Party Transaction [Line Items]
Maximum borrowings permitted under credit facility	$ 22,000,000		$ 22,000,000
Debt, expiration date			Dec. 31, 2020
Percentage of debt guarantee			50.00%
Company's ownership percentage	50.00%		50.00%
Maximum potential payment under guarantee	$ 11,000,000		$ 11,000,000
Outstanding principal balance including letters of credit	11,200,000		11,200,000		$ 12,300,000
Sales with related parties	100,000	$ 0	500,000	$ 600,000
Sale with joint ventures	100,000	400,000	400,000	600,000
South American Joint Venture [Member] | US Dollar Denominated Loans [Member]
Related Party Transaction [Line Items]
Outstanding principal balance including letters of credit	$ 0		$ 0
South American Joint Venture [Member] | Chilean Peso Denominated Loans [Member]
Related Party Transaction [Line Items]
Weighted average interest rate	5.30%		5.30%
Tigre-ADS USA [Member]
Related Party Transaction [Line Items]
Purchases from related party	$ 600,000	$ 700,000	$ 1,200,000	$ 1,200,000
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Related Party Transaction [Line Items]
Maximum borrowings permitted under credit facility	12,000,000		$ 12,000,000
Revolving credit facility maturity date			Jun. 22, 2018
Debt, expiration date			Jun. 22, 2022
Outstanding principal balance including letters of credit	$ 0		$ 0
ADS Mexicana [Member] | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Related Party Transaction [Line Items]
Percentage of ownership in joint venture	49.00%		49.00%
Consolidated Entity Excluding Variable Interest Entities (VIE) [Member] | ADS Mexicana [Member]
Related Party Transaction [Line Items]
Company's ownership percentage	51.00%		51.00%

Debt - Long-Term Debt (Detail)

Debt - Long-Term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019
Debt Instrument [Line Items]
Total	$ 1,051,963	$ 236,827
Unamortized debt issuance costs	(2,614)	(2,293)
Current maturities	(6,195)	(25,932)
Long-term debt obligation	1,043,154	208,602
Term Loan Facility [Member]
Debt Instrument [Line Items]
Revolving Credit Facility	700,000
Senior Notes [Member]
Debt Instrument [Line Items]
Senior notes	350,000
PNC Credit Agreement [Member]
Debt Instrument [Line Items]
Revolving Credit Facility		134,400
Equipment Financing [Member]
Debt Instrument [Line Items]
Revolving Credit Facility	$ 1,963	2,427
Prudential Senior Notes [Member]
Debt Instrument [Line Items]
Senior notes		$ 100,000

Debt (Bridge Credit Facility) -

Debt (Bridge Credit Facility) - Additional Information (Detail) - USD ($)	Sep. 24, 2019	Sep. 23, 2019	Sep. 10, 2019	Jul. 31, 2019	Sep. 30, 2019
Debt Instrument [Line Items]
Repayment of borrowings					$ 177,900,000
Repayment of notes					1,300,000,000
Proceeds from Senior Notes					350,000,000
Principal payment from common stock offering			$ 300,000,000		293,648,000
5.0% Senior Notes due 2027 [Member]
Debt Instrument [Line Items]
Aggregate principal amount		$ 350,000,000
Deferred financing fees capitalized					2,100,000
Bridge Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowings permitted under credit facility				$ 350,000,000
Amount borrowed				145,000,000
Letter of Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowings permitted under credit facility	$ 50,000,000			50,000,000
Sublimit of Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowings permitted under credit facility	50,000,000			50,000,000
Bridge Credit Facility [Member]
Debt Instrument [Line Items]
Repayment of borrowings			$ 300,000,000
Deferred financing fees capitalized				46,900,000
Decrease in deferred financing costs due to refunds received				14,900,000
Senior Secured Credit Facility
Debt Instrument [Line Items]
Proceeds from Senior Notes	700,000,000
Deferred financing fees capitalized	$ 400,000
Bridge Loan Facility [Member]
Debt Instrument [Line Items]
Aggregate principal amount				1,300,000,000
Amount borrowed				$ 1,300,000,000
Repayment of notes		300,000,000
Bridge Loan Facility [Member] | 5.0% Senior Notes due 2027 [Member]
Debt Instrument [Line Items]
Repayment of notes		300,000,000
Proceeds from Senior Notes		$ 300,000,000			$ 350,000,000

Debt (Repayment of Prudential S

Debt (Repayment of Prudential Senior Notes) - Additional Information (Detail) - Prudential Senior Notes [Member] $ in Millions	Jul. 29, 2019USD ($)
Debt Instrument [Line Items]
Repayments of debt	$ 104.4
Write-off of unamortized deferred financing fees and prepayment premiums	$ 4.2

Debt (Repayment of PNC Credit A

Debt (Repayment of PNC Credit Agreement) - Additional Information (Detail) - USD ($) $ in Thousands	Jul. 31, 2019	Sep. 30, 2019	Sep. 30, 2018	Mar. 31, 2019
Debt Instrument [Line Items]
Write-off of unamortized deferred financing fees		$ 34,285	$ 387
PNC Credit Facility [Member]
Debt Instrument [Line Items]
Repayments of debt	$ 239,200
Write-off of unamortized deferred financing fees	$ 2,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Letters of credit outstanding		$ 8,500		$ 8,500

Debt (Issuance of Senior Notes

Debt (Issuance of Senior Notes due 2027) - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 23, 2019	Sep. 30, 2019	Jul. 31, 2019
Debt Instrument [Line Items]
Repayment of notes		$ 1,300,000
Bridge Loan Facility [Member]
Debt Instrument [Line Items]
Aggregate principal amount			$ 1,300,000
Repayment of notes	$ 300,000
5.0% Senior Notes due 2027 [Member]
Debt Instrument [Line Items]
Aggregate principal amount	$ 350,000
Debt instrument, interest rate	5.00%	5.00%
Debt instrument, description of payment terms		Interest on the Senior Notes will be payable semi-annually in cash in arrears on March 31 and September 30 of each year, commencing on March 31, 2020, at a rate of 5.0% per annum.
Debt instrument, frequency of periodic payment		semi-annually
Debt instrument, date of first required payment	Mar. 31, 2020
Debt instrument, maturity date	Sep. 30, 2027
Deferred financing costs		$ 2,100
5.0% Senior Notes due 2027 [Member] | Prior to September 30, 2022 [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage of principal amount redeemed		105.00%
Debt instrument, redemption price, percentage of principal amount redeemed excluding "make-whole" premium		100.00%
5.0% Senior Notes due 2027 [Member] | Maximum [Member] | Prior to September 30, 2022 [Member]
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage		40.00%
5.0% Senior Notes due 2027 [Member] | Bridge Loan Facility [Member]
Debt Instrument [Line Items]
Repayment of notes	$ 300,000

Debt (New Senior Secured Credit

Debt (New Senior Secured Credit Facility) - Additional Information (Detail) - USD ($)	Sep. 24, 2019	Sep. 30, 2019	Jul. 31, 2019	Mar. 31, 2019
Term Loan Facility [Member]
Debt Instrument [Line Items]
Aggregate principal amount	$ 700,000,000
Debt instrument term	7 years
Bridge Credit Facility [Member]
Debt Instrument [Line Items]
Remaining borrowing capacity	$ 700,000,000
Deferred financing fees capitalized			$ 46,900,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowings permitted under credit facility	$ 350,000,000
Letters of credit outstanding		$ 8,500,000		$ 8,500,000
Debt instrument term	5 years
Commitment fee on undrawn portion, percentage		0.20%
Letter of Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowings permitted under credit facility	$ 50,000,000		50,000,000
Sublimit of Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowings permitted under credit facility	50,000,000		$ 50,000,000
Senior Secured Credit Facility
Debt Instrument [Line Items]
Deferred financing fees capitalized	$ 400,000

Debt - Maturities of Long-term

Debt - Maturities of Long-term Debt (Excluding Interest and Deferred Financing Costs) (Detail) - USD ($) $ in Thousands	Sep. 30, 2019	Mar. 31, 2019
Debt Disclosure [Abstract]
2020	$ 6,195
2021	7,931
2022	7,084
2023	7,000
2024	7,000
Thereafter	1,016,753
Total	$ 1,051,963	$ 236,827

Commitments and Contingencies (

Commitments and Contingencies (Purchase Commitments) - Additional Information (Detail) $ in Millions	6 Months Ended
	Sep. 30, 2019USD ($)
Inventory [Member]
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	$ 5.9
Equipment Purchase Contracts [Member]
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Total purchase commitment	$ 1.4

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands, shares in Millions	Jul. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Taxes [Line Items]
Effective income tax rate		(75.30%)		28.90%	(9.40%)	29.40%
Non-deductible transaction costs		$ 1,100
Discrete income tax expense					$ 60,700
Additional stock-based compensation expense		$ 3,171		$ 1,812	5,012	$ 3,371
IWT [Member]
Income Taxes [Line Items]
Increase in unrecognized tax benefits	$ 1,400
Total purchase price	109,926
Purchase price related to step up of GAAP basis for fair market valuations	59,800
Deferred tax liabilities acquired	50,100
IWT [Member] | Intangible Assets [Member]
Income Taxes [Line Items]
Purchase price related to step up of GAAP basis for fair market valuations	$ 55,700
Special Dividend [Member]
Income Taxes [Line Items]
Dividend payable date			Jun. 14, 2019
Employee Stock Ownership Plan (ESOP) [Member]
Income Taxes [Line Items]
Non-deductible stock appreciation of total stock-based compensation expense					$ 237,600
Effective tax rate reduced by discrete event					30.30%
Employee Stock Ownership Plan (ESOP) [Member] | Special Dividend [Member]
Income Taxes [Line Items]
Shares allocated from the ESOP from discrete event		11.6			11.6
Dividend payable date			Jun. 14, 2019
Additional stock-based compensation expense					$ 246,800

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 3,171	$ 1,812	$ 5,012	$ 3,371
Non-Employee Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	313	254	589	497
Equity-Classified Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	700	795	1,251	1,568
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	957	528	1,599	974
Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	1,201	235	1,573	332
Cost of Goods Sold [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	189	82	301	144
Selling Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	179	50	235	86
General and Administrative Expenses [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 2,803	$ 1,680	$ 4,476	$ 3,141

Stock-Based Compensation (2017

Stock-Based Compensation (2017 Omnibus Plan) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	May 24, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards	$ 1	$ (2)	$ (91)	$ (53)
2017 Omnibus Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards, Shares	100,000		200,000
Restricted stock awards	$ 3,600		$ 6,900
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
Number of nonqualified stock options granted			300,000
Number of stock options granted, Value			$ 2,700
2017 Omnibus Plan [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of performance units granted			100,000
Number of performance units granted, Value			$ 3,400
2017 Omnibus Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock approved for issuance					3,500,000

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Assumption Used in Estimate Fair Value of Stock Options (Detail)	6 Months Ended
	Sep. 30, 2019$ / shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Common stock price	$ 27.44
Expected stock price volatility	30.90%
Risk-free interest rate	2.30%
Weighted-average expected option life (years)	6 years
Dividend yield	1.30%

Business Segments Information -

Business Segments Information - Additional Information (Detail)	6 Months Ended
	Sep. 30, 2019Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Business Segments Information_2

Business Segments Information - Schedule of Revenue from Reportable Segments by Product Type (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Net Sales	$ 495,905	$ 406,555	$ 909,613	$ 794,402
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Sales	495,905	406,555	909,613	794,402
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net Sales	(12,531)		(12,531)
Pipe Segment [Member]
Segment Reporting Information [Line Items]
Net Sales	281,063	249,380	543,244	491,450
Pipe Segment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Sales	281,405	249,380	543,586	491,450
Pipe Segment [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net Sales	(342)		(342)
Allied Products and Other [Member]
Segment Reporting Information [Line Items]
Net Sales	114,358	101,889	226,551	202,317
Allied Products and Other [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Sales	114,358	101,889	226,551	202,317
International Segment [Member]
Segment Reporting Information [Line Items]
Net Sales	47,784	55,286	87,118	100,635
International Segment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Sales	47,784	55,286	87,118	100,635
International Segment [Member] | Pipe [Member]
Segment Reporting Information [Line Items]
Net Sales	34,617	44,008	63,902	78,456
International Segment [Member] | Pipe [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Sales	34,617	44,008	63,902	78,456
International Segment [Member] | Allied Products [Member]
Segment Reporting Information [Line Items]
Net Sales	13,167	11,278	23,216	22,179
International Segment [Member] | Allied Products [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Sales	13,167	$ 11,278	23,216	$ 22,179
Infiltrator Water Technologies Segment [Member]
Segment Reporting Information [Line Items]
Net Sales	52,700		52,700
Infiltrator Water Technologies Segment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Sales	64,889		64,889
Infiltrator Water Technologies Segment [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net Sales	$ (12,189)		$ (12,189)

Business Segments Information_3

Business Segments Information - Schedule of Financial Information Attributable to Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Segment adjusted gross profit	$ 171,874	$ 112,809	$ 295,781	$ 230,073
Depreciation and amortization	26,566	17,536	43,260	35,363
Capital expenditures	15,899	12,425	25,622	19,299
Operating Segments [Member] | Pipe Segment [Member]
Segment Reporting Information [Line Items]
Segment adjusted gross profit	74,246	53,561	131,739	112,027
Depreciation and amortization	11,557	11,811	23,104	24,030
Capital expenditures	9,383	9,303	16,357	14,016
Operating Segments [Member] | Infiltrator Water Technologies Segment [Member]
Segment Reporting Information [Line Items]
Segment adjusted gross profit	30,144		30,144
Depreciation and amortization	1,859		1,859
Capital expenditures	3,883		3,883
Operating Segments [Member] | International Segment [Member]
Segment Reporting Information [Line Items]
Segment adjusted gross profit	10,841	12,088	20,068	21,874
Depreciation and amortization	1,590	1,524	3,097	3,021
Capital expenditures	623	816	1,877	1,808
Operating Segments [Member] | Allied Products and Other [Member]
Segment Reporting Information [Line Items]
Segment adjusted gross profit	57,621	47,160	114,808	96,172
Depreciation and amortization	11,560	4,201	15,200	8,312
Capital expenditures	2,010	$ 2,306	3,505	$ 3,475
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Segment adjusted gross profit	$ (978)		$ (978)

Business Segments Information_4

Business Segments Information - Reconciliation of Gross Profit to Segment Adjusted Gross Profit (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross profit	$ 146,524	$ 95,373	$ 84,366	$ 195,064
Depreciation and amortization	15,708	14,354	29,392	29,072
ESOP and stock-based compensation expense	3,869	3,082	7,640	5,937
ESOP special dividend compensation			168,610
Inventory step up			5,773
Total Segment Adjusted Gross Profit	171,874	$ 112,809	295,781	$ 230,073
Infiltrator Water Technologies [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Inventory step up	$ 5,773		$ 5,773

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - $ / shares	3 Months Ended			6 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Subsequent Event [Line Items]
Common stock dividend per share		$ 0.09	$ 0.08	$ 1.18	$ 0.16
Scenario, Forecast [Member]
Subsequent Event [Line Items]
Common stock dividend per share	$ 0.09
Dividend payable date	Dec. 13, 2019
Dividend payable, date of record	Nov. 29, 2019