Advanced Drainage Systems (WMS) 10-K 19 May 22 2022 FY Annual report Financial data

Cover

Cover - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	May 10, 2022	Sep. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-36557
Entity Registrant Name	ADVANCED DRAINAGE SYSTEMS, INC.
Entity Incorporation, State or Country Code	DE
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
Title of Each Class	Common Stock, $0.01 par value per share
Trading Symbol(s)	WMS
Name of Each Exchange On Which Registered	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 6,032
Entity Common Stock, Shares Outstanding		84,353,682
Documents Incorporated by Reference	Part III of this report incorporates by reference specific portions of the Registrant’s Notice of Annual Meeting and Proxy Statement relating to the Annual Meeting of Stockholders to be held on July 21, 2022.
Amendment Flag	false
Entity Central Index Key	0001604028
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY

Audit Information

Audit Information	12 Months Ended
	Mar. 31, 2022
Audit Information [Abstract]
Auditor Name	Deloitte & Touche LLP
Auditor Location	Columbus, Ohio
PCAOB ID Number	34

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Current assets:
Cash	$ 20,125	$ 195,009
Receivables (less allowance for credit losses of $8,198 and $5,323, respectively)	341,753	236,191
Inventories	494,324	300,961
Other current assets	15,696	10,817
Total current assets	871,898	742,978
Property, plant and equipment, net	619,383	504,275
Other assets:
Goodwill	610,293	599,072
Intangible assets, net	431,385	482,016
Other assets	116,799	85,491
Total assets	2,649,758	2,413,832
Current liabilities:
Current maturities of debt obligations	19,451	7,000
Current maturities of finance lease obligations	5,089	19,318
Accounts payable	224,986	171,098
Other accrued liabilities	134,877	116,151
Accrued income taxes	6,838	4,703
Total current liabilities	391,241	318,270
Long-term debt obligations (less unamortized debt issuance costs of $1,648 and $2,030, respectively)	908,705	782,220
Long-term finance lease obligations	11,393	32,964
Deferred tax liabilities	168,435	162,185
Other liabilities	64,939	54,767
Total liabilities	1,544,713	1,350,406
Commitments and contingencies (see Note 12)
Mezzanine equity:
Redeemable convertible preferred stock: $0.01 par value; 47,070 shares authorized; 44,170 shares issued; 15,630 and 19,275 shares outstanding, respectively	195,384	240,944
Deferred compensation — unearned ESOP shares	0	(11,033)
Total mezzanine equity	195,384	229,911
Stockholders’ equity:
Common stock: $0.01 par value; 1,000,000 shares authorized; 75,529 and 72,071 shares issued, respectively; 72,309 and 71,570 shares outstanding, respectively	11,612	11,578
Paid-in capital	1,065,628	918,587
Common stock in treasury, at cost	(318,691)	(10,959)
Accumulated other comprehensive loss	(24,386)	(24,220)
Retained earnings (deficit)	158,876	(75,202)
Total ADS stockholders’ equity	893,039	819,784
Noncontrolling interest in subsidiaries	16,622	13,731
Total stockholders’ equity	909,661	833,515
Total liabilities, mezzanine equity and stockholders’ equity	$ 2,649,758	$ 2,413,832

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Allowance for doubtful accounts	$ 8,198	$ 5,323
Unamortized debt issuance costs	$ 1,648	$ 2,030
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	1,000,000	1,000,000
Common stock issued (in shares)	75,529	72,071
Common stock outstanding (in shares)	72,309	71,570
Redeemable Convertible Preferred Stock
Mezzanine equity, par value (in dollars per share)	$ 0.01	$ 0.01
Mezzanine equity authorized (in shares)	47,070	47,070
Mezzanine equity issued (in shares)	44,170	44,170
Mezzanine equity outstanding (in shares)	15,630	19,275

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Net sales	$ 2,769,315	$ 1,982,780	$ 1,673,805
Cost of goods sold	1,949,750	1,292,698	1,188,716
Cost of goods sold - ESOP acceleration and special dividend compensation	19,181	0	168,610
Gross profit	800,384	690,082	316,479
Operating expenses:
Selling, general and administrative	309,840	267,574	271,338
Selling, general and administrative - ESOP acceleration and special dividend compensation	11,254	0	78,142
Loss on disposal of assets and costs from exit and disposal activities	3,398	4,275	5,338
Intangible amortization	63,974	73,708	57,010
Income (loss) from operations	411,918	344,525	(95,349)
Other expense:
Interest expense	33,550	35,658	82,711
Derivative (gains) losses and other (income) expense, net	(5,143)	(3,404)	1,554
Income (loss) before income taxes	383,511	312,271	(179,614)
Income tax expense	110,071	86,382	14,092
Equity in net income of unconsolidated affiliates	(1,586)	(201)	(1,909)
Net income (loss)	275,026	226,090	(191,797)
Less: net income attributable to noncontrolling interest	3,695	1,860	1,377
Net income (loss) attributable to ADS	$ 271,331	$ 224,230	$ (193,174)
Weighted average common shares outstanding:
Basic (in shares)	71,276	70,155	63,820
Diluted (in shares)	72,911	71,566	63,820
Net income (loss) per share available to common stockholders:
Basic (in dollars per share)	$ 3.22	$ 2.64	$ (3.21)
Diluted (in dollars per share)	$ 3.15	$ 2.59	$ (3.21)

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 275,026	$ 226,090	$ (191,797)
Currency translation gain (loss)	501	12,684	(12,324)
Comprehensive income (loss)	275,527	238,774	(204,121)
Less: other comprehensive gain (loss) attributable to noncontrolling interest, net of tax	667	1,579	(2,866)
Less: net income attributable to noncontrolling interest	3,695	1,860	1,377
Total comprehensive income (loss) attributable to ADS	$ 271,165	$ 235,335	$ (202,632)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Cash Flows from Operating Activities
Net income (loss)	$ 275,026	$ 226,090	$ (191,797)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	141,808	145,586	124,940
Deferred income taxes	2,175	(13,477)	(2,924)
Loss on disposal of assets and costs from exit and disposal activities	3,398	4,275	5,338
ESOP and stock-based compensation	77,559	65,434	32,395
ESOP acceleration and special dividend compensation	30,435	0	246,752
Amortization of deferred financing charges	382	382	34,476
Inventory step up related to Infiltrator acquisition	0	0	7,880
Fair market value adjustments to derivatives	(1,392)	(3,355)	3,128
Equity in net income of unconsolidated affiliates	(1,586)	(201)	(1,909)
Other operating activities	(11,679)	6,770	(6,005)
Changes in working capital:
Receivables	(96,990)	(34,760)	5,170
Inventories	(189,715)	(14,561)	19,086
Prepaid expenses and other current assets	(4,642)	(1,208)	(1,929)
Accounts payable, accrued expenses and other liabilities	50,109	71,241	31,588
Net cash provided by operating activities	274,888	452,216	306,189
Cash Flows from Investing Activities
Capital expenditures	(149,083)	(78,757)	(67,677)
Acquisition, net of cash acquired	(49,309)	0	(1,089,322)
Other investing activities	(441)	883	6,529
Net cash used in investing activities	(198,833)	(77,874)	(1,150,470)
Cash Flows from Financing Activities
Proceeds from Term Loan Facility	0	0	1,300,000
Payments on Term Loan Facility	0	0	(1,300,000)
Proceeds from syndication of Term Loan Facility	0	0	700,000
Payments on syndicated Term Loan Facility	(7,000)	(207,000)	(51,750)
Proceeds from Senior Notes	0	0	350,000
Debt issuance costs	0	0	(34,606)
Payments on Prudential Senior Notes	0	0	(100,000)
Proceeds from Equipment Financing	35,963	0	0
Payments on Equipment Financing	(4,715)	0	0
Payments on finance lease obligations	(50,447)	(21,491)	(27,119)
Proceeds from common stock offering, net of offering costs	0	0	293,648
Repurchase of common stock	(292,000)	0	0
Cash dividends paid	(38,494)	(32,155)	(92,127)
Proceeds from option exercises	4,574	7,553	8,163
Payment of withholding taxes on vesting of restricted stock units	(13,063)	0	0
Other financing activities	(186)	(1,490)	(237)
Net cash (used in) provided by financing activities	(251,068)	(354,583)	1,011,572
Effect of exchange rate changes on cash	129	1,017	(1,949)
Net change in cash	(174,884)	20,776	165,342
Cash at beginning of year	195,009	174,233	8,891
Cash at end of year	20,125	195,009	174,233
Revolving Credit Facility
Cash Flows from Financing Activities
Proceeds from Credit Agreement	332,200	0	277,900
Payments on Credit Agreement	(217,900)	(100,000)	(177,900)
PNC Credit Agreement
Cash Flows from Financing Activities
Proceeds from Credit Agreement	0	0	253,900
Payments on Credit Agreement	$ 0	$ 0	$ (388,300)

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity and Mezzanine Equity - USD ($) $ in Thousands	Total	Redeemable Convertible Preferred Stock	Deferred Compensation – Unearned ESOP Shares	Adoption of ASU 2016-13	Total ADS Stockholders’ Equity	Total ADS Stockholders’ EquityAdoption of ASU 2016-13	Common Stock	Paid-in Capital	Common Stock in Treasury	Accumulated Other Comprehensive Loss	Retained Earnings (Deficit)	Retained Earnings (Deficit)Adoption of ASU 2016-13	Non-controlling Interest in Subsidiaries
Beginning balance (in shares) at Mar. 31, 2019							57,964,000		474,000
Beginning balance at Mar. 31, 2019	$ 398,313				$ 384,327		$ 11,436	$ 391,039	$ (9,863)	$ (25,867)	$ 17,582		$ 13,986
Redeemable Convertible Preferred Stock, beginning balance at Mar. 31, 2019		$ 282,638
Deferred Compensation - Unearned ESOP Shares, beginning balance at Mar. 31, 2019	180,316
Mezzanine beginning balance (in shares) at Mar. 31, 2019		22,611,000	14,452,000
Mezzanine beginning balance at Mar. 31, 2019	$ 102,322
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting standards update [Extensible Enumeration]	Accounting Standards Update 2016-13 [Member]
Net (loss) income	$ (191,797)				(193,174)						(193,174)		1,377
Other comprehensive (loss) income	(12,324)				(9,458)					(9,458)			(2,866)
Redeemable convertible preferred stock dividends	(10,847)				(10,847)						(10,847)
Common stock dividend	(80,821)				(80,821)						(80,821)
Dividend paid to noncontrolling interest holder	(735)												(735)
Allocation of ESOP shares to participants for:
Compensation	8,164				8,164			8,164
Compensation (in shares)			(957,000)
Mezzanine compensation	11,962
Dividend	(359)				(359)						(359)
Mezzanine dividend	359
Special Dividend (in shares)			(11,645,000)
Special Dividend	101,189				101,189			101,189
Mezzanine Special Dividend	145,563
Exercise of common stock options (in shares)							571,000		7,000
Exercise of common stock options	7,962				7,962		$ 6	8,163	$ (207)
Restricted stock awards (in shares)							118,000		10,000
Restricted stock awards	(390)				(390)		$ 1		$ (391)
Stock-based compensation	12,269				12,269			12,269
ESOP distributions in common stock (in shares)							807,000
ESOP distributions in common stock	13,109				13,109		$ 8	13,101
Common stock offering (in shares)							10,350,000
Common stock offering	293,648				293,648		$ 104	293,544			0
Other	104				104			104
ESOP distributions in common stock (in shares)		(1,049,000)
ESOP distributions in common stock	(13,109)	$ (13,109)
Ending balance (in shares) at Mar. 31, 2020							69,810,000		491,000
Ending balance at Mar. 31, 2020	537,485			$ (779)	525,723	$ (779)	$ 11,555	827,573	$ (10,461)	(35,325)	(267,619)	$ (779)	11,762
Redeemable Convertible Preferred Stock, ending balance at Mar. 31, 2020		$ 269,529
Deferred Compensation - Unearned ESOP Shares, ending balance at Mar. 31, 2020	22,432
Mezzanine ending balance (in shares) at Mar. 31, 2020		21,562,000	1,850,000
Mezzanine ending balance at Mar. 31, 2020	247,097
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	226,090				224,230						224,230		1,860
Other comprehensive (loss) income	12,684				11,105					11,105			1,579
Redeemable convertible preferred stock dividends	(5,242)				(5,242)						(5,242)
Common stock dividend	(25,443)				(25,443)						(25,443)
Dividend paid to noncontrolling interest holder	$ (1,470)												(1,470)
Share repurchases (in shares)	0
Allocation of ESOP shares to participants for:
Compensation	$ 33,931				33,931			33,931
Compensation (in shares)			(884,000)
Mezzanine compensation	11,050
Dividend	(349)				(349)						(349)
Mezzanine dividend	349
Exercise of common stock options (in shares)							368,000
Exercise of common stock options	7,557				7,557		$ 4	7,553
Restricted stock awards (in shares)							134,000		10,000
Restricted stock awards	(497)				(497)		$ 1		$ (498)
Stock-based compensation	20,453				20,453			20,453
ESOP distributions in common stock (in shares)							1,759,000
ESOP distributions in common stock	28,585				28,585		$ 18	28,567
Other	510				510			510
ESOP distributions in common stock (in shares)		(2,287,000)
ESOP distributions in common stock	(28,585)	$ (28,585)
Ending balance (in shares) at Mar. 31, 2021							72,071,000		501,000
Ending balance at Mar. 31, 2021	833,515				819,784		$ 11,578	918,587	$ (10,959)	(24,220)	(75,202)		13,731
Redeemable Convertible Preferred Stock, ending balance at Mar. 31, 2021	240,944	$ 240,944
Deferred Compensation - Unearned ESOP Shares, ending balance at Mar. 31, 2021	11,033
Mezzanine ending balance (in shares) at Mar. 31, 2021		19,275,000	966,000
Mezzanine ending balance at Mar. 31, 2021	229,911
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	275,026				271,331						271,331		3,695
Other comprehensive (loss) income	501				(166)					(166)			667
Redeemable convertible preferred stock dividends	(5,646)				(5,646)						(5,646)
Common stock dividend	(31,496)				(31,496)						(31,496)
Dividend paid to noncontrolling interest holder	$ (1,471)												(1,471)
Share repurchases (in shares)	2,600,000								2,574,000
Share repurchases	$ (292,000)				(292,000)				$ (292,000)
Allocation of ESOP shares to participants for:
Compensation	46,888				46,888			46,888
Compensation (in shares)			(628,000)
Mezzanine compensation	6,513
Dividend	(294)				(294)						(294)
Mezzanine dividend	294
ESOP acceleration	$ 26,209				26,209			26,209
ESOP acceleration (in shares)	(338,000)
Mezzanine ESOP acceleration	$ 4,226
Exercise of common stock options (in shares)							206,000
Exercise of common stock options	4,574				4,574		$ 2	4,572
Restricted stock awards (in shares)							203,000		53,000
Restricted stock awards	(5,985)				(5,985)		$ 2		$ (5,987)
Performance-based restricted stock units (in shares)							245,000		92,000
Performance-based restricted stock units	(9,743)				(9,743)		$ 2		$ (9,745)
Stock-based compensation	24,158				24,158			24,158
ESOP distributions in common stock (in shares)							2,804,000
ESOP distributions in common stock	45,560				45,560		$ 28	45,532
Other	(135)				(135)			(318)			183
ESOP distributions in common stock (in shares)		(3,645,000)
ESOP distributions in common stock	(45,560)	$ (45,560)
Ending balance (in shares) at Mar. 31, 2022							75,529,000		3,220,000
Ending balance at Mar. 31, 2022	909,661				$ 893,039		$ 11,612	$ 1,065,628	$ (318,691)	$ (24,386)	$ 158,876		$ 16,622
Redeemable Convertible Preferred Stock, ending balance at Mar. 31, 2022	195,384	$ 195,384
Deferred Compensation - Unearned ESOP Shares, ending balance at Mar. 31, 2022	0
Mezzanine ending balance (in shares) at Mar. 31, 2022		15,630,000	0
Mezzanine ending balance at Mar. 31, 2022	$ 195,384

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity and Mezzanine Equity (Parenthetical) - $ / shares	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Common stock dividend per share	$ 0.44	$ 0.36	$ 1.36

Background and Summary of Signi

Background and Summary of Significant Accounting Policies	12 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Background and Summary of Significant Accounting Policies	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 innovative water management solutions in the stormwater and onsite septic waste water industries, providing superior drainage solutions for use in the construction and agriculture marketplace. ADS’s products are used across a broad range of end markets and applications, including non-residential, infrastructure and agriculture applications. The Company’s fiscal year begins on April 1 and ends on March 31. Unless otherwise noted, references to “year” pertain to the fiscal year. For example, 2022 refers to fiscal 2022, which is the period from April 1, 2021 to March 31, 2022. The Company is managed and reports results of operations in three reportable segments: Pipe, Infiltrator and International. The Company also reports the results of its Allied Products and all other business segments as Allied Products & Other. Principles of Consolidation - The 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 Consolidated Balance Sheets and the related equity in earnings from these investments are included in Equity in net income of unconsolidated affiliates in the Consolidated Statements of Operations. All intercompany balances and transactions have been eliminated in consolidation. Presentation - Certain prior year captions have been renamed to conform to the fiscal 2022 presentation. Cost of goods sold - ESOP acceleration and special dividend compensation and Selling, general and administrative - ESOP acceleration and special dividend compensation include the compensation expense triggered by the acceleration of the ESOP in fiscal 2022 discussed in “Note 13. Employee Benefit Plans” and the special dividend in fiscal 2020 discussed in “Note 16. Net Income Per Share and Stockholders’ Equity.” Estimates - The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingencies and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Significant estimates include, but are not limited to, the allowance for credit losses, valuation of inventory, useful lives of property, plant and equipment and amortizing intangible assets, determination of the proper accounting for leases, valuation of equity method investments, goodwill, intangible assets and other long-lived assets for impairment, accounting for stock-based compensation and the ESOP, valuation of the redeemable convertible preferred stock, determination of allowances for sales returns, rebates and discounts, determination of the valuation allowance, if any, on deferred tax assets, and reserves for uncertain tax positions. Management’s estimates and assumptions are evaluated on an ongoing basis and are based on historical experience, current conditions and available information. Management believes the accounting estimates are appropriate and reasonably determined; however, due to the inherent uncertainties in making these estimates, actual results could differ from those estimates. Receivables and Allowance for Credit Losses - Receivables include trade receivables, net of an allowance for credit losses, and other miscellaneous receivables. Receivables at March 31, 2022 and 2021 are as follows: (Amounts in thousands) 2022 2021 Trade receivables, net $ 339,585 $ 233,753 Other miscellaneous receivables 2,168 2,438 Receivables, net $ 341,753 $ 236,191 The Company extends credit to customers based on an evaluation of their financial condition and collateral is generally not required. The Company records an allowance for credit losses at the time accounts receivable are recorded based on the Company’s historical write-off activity, an evaluation of the current economic environment and the Company’s expectations of future economic conditions. Inventories - Inventories are stated at the lower of cost or net realizable value. The Company’s inventories are maintained on the first-in, first-out (“FIFO”) method. Costs include the cost of acquiring materials, including in-bound freight from vendors and freight incurred for the transportation of raw materials, tooling or finished goods between the Company’s manufacturing plants and its distribution centers, direct and indirect labor, factory overhead and certain corporate overhead costs related to the production of inventory. Property, Plant and Equipment and Depreciation Method - Property, plant and equipment are recorded at cost less accumulated depreciation, with the exception of assets acquired through acquisitions, which are initially recorded at fair value. Equipment acquired under finance lease is recorded at the present value of the future minimum lease payments. Depreciation is computed for financial reporting purposes using the straight-line method over the estimated useful lives of the related assets or the lease term, if shorter, as follows: Years Buildings and leasehold improvements 20 to 45 or the lease term if shorter Machinery and production equipment 3 to 18 Transportation equipment 3 to 12 Costs of additions and major improvements are capitalized, whereas maintenance and repairs that do not improve or extend the life of the asset are charged to expense as incurred. When assets are retired or disposed, the cost and related accumulated depreciation are removed from the asset accounts and any resulting gain or loss is reflected in Loss on disposal of assets and costs from exit and disposal activities in the Consolidated Statements of Operations. Construction in progress is also recorded at cost and includes capitalized interest, capitalized payroll costs and related costs such as taxes and other fringe benefits. Goodwill - The Company records acquisitions resulting in the consolidation of an enterprise using the acquisition method of accounting. Under this method, the Company records the assets acquired, including intangible assets that can be identified, and liabilities assumed based on their estimated fair values at the date of acquisition. The purchase price in excess of the fair value of the identifiable assets acquired and liabilities assumed is recorded as goodwill. Goodwill is reviewed annually for impairment as of March 31 or whenever events or changes in circumstances indicate the carrying value may be greater than fair value. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that unit, goodwill is not considered impaired and the Company is not required to perform further testing. If the carrying value of a reporting unit’s goodwill exceeds its fair value, then the Company would record an impairment loss equal to the difference. With respect to this testing, a reporting unit is a component of the Company for which discrete financial information is available and regularly reviewed by management. The fair value of each reporting unit is determined by considering both the income and market approach. Determining the fair value of a reporting unit is judgmental in nature and involves the use of significant estimates and assumptions. These estimates and assumptions include revenue growth rates and operating margins used to calculate projected future cash flows, risk-adjusted discount rates, future economic and market conditions, and determination of appropriate market comparison. The fair value estimates are based on assumptions management believes to be reasonable but are inherently uncertain. For the fiscal year ended March 31, 2021, the Company completed a quantitative assessment of the Infiltrator and Canada reporting units and determined no impairment charges were required. For the fiscal year ended March 31, 2020, the Company completed a quantitative fair value assessment for all reporting units and determined no impairment charges were required. GAAP allows entities testing goodwill for impairment the option of performing a qualitative assessment before calculating the fair value of a reporting unit for the goodwill impairment test. If the qualitative assessment is performed, an entity is no longer required to calculate the fair value of a reporting unit unless the entity determines that, based on that assessment, it is more likely than not that the fair value is less than its carrying amount. The Company applied the qualitative assessment to all reporting units as of March 31, 2022. For all reporting units, except Infiltrator and Canada, the Company completed a qualitative assessment as of March 31, 2021. The qualitative assessments indicated that no impairment charges were required for goodwill. Intangible Assets Intangible Assets — Definite-Lived - Definite-lived intangible assets are amortized using the straight-line method or an accelerated method over their estimated useful lives and are tested for recoverability whenever events or changes in circumstances indicate that carrying amounts of the asset group may not be recoverable. Asset groups are established primarily by determining the lowest level of cash flows available. If the estimated undiscounted future cash flows are less than the carrying amounts of such assets, an impairment loss is recognized to the extent the fair value of the asset less any costs of disposition is less than the carrying amount of the asset. Determining the fair value of these assets is judgmental in nature and involves the use of significant estimates and assumptions. Intangible Assets — Indefinite-Lived - Indefinite-lived intangible assets are tested for impairment annually as of March 31 or whenever events or changes in circumstances indicate the carrying value may be greater than fair value. Determining the fair value of these assets is judgmental in nature and involves the use of significant estimates and assumptions. The Company bases its fair value estimates on assumptions it believes to be reasonable, but that are inherently uncertain. To estimate the fair value of these indefinite-lived intangible assets, the Company uses an income approach, which utilizes a market derived rate of return to discount anticipated performance. An impairment loss is recognized when the estimated fair value of the intangible asset is less than the carrying value. ADS completed a quantitative fair value measurement of indefinite-lived trademarks as of March 31, 2020. The test indicated that the fair value of the indefinite-lived trademarks substantially exceeded the carrying value, indicating that no impairment existed. GAAP allows entities testing indefinite-lived intangible assets for impairment the option of performing a qualitative assessment before calculating the fair value of the indefinite-lived intangible assets for the impairment test. If the qualitative assessment is performed, an entity is no longer required to calculate the fair value of an indefinite-lived intangible assets unless the entity determines that, based on that assessment, it is more likely than not that its fair value is less than its carrying amount. ADS applied the qualitative assessment to specific trademarks for the annual impairment tests performed as of March 31, 2022 and 2021. For the qualitative tests, ADS assessed various assumptions, events and circumstances that would have affected the estimated fair value of the reporting unit as compared to its latest quantitative fair value measurement. The results of these assessments indicated that it is not more likely than not that the trademarks fair value is less than the reporting unit carrying value. The Company did not incur any impairment charges for Intangible assets. Other Assets - Other assets include operating lease right of use assets, investments in unconsolidated affiliates accounted for under the equity method, capitalized software development costs, including cloud computing costs, deposits, central parts, and other miscellaneous assets. See “Note 5. Leases” for further information on the operating lease right of use assets. The Company capitalizes development costs for internal use software and defers implementation costs for hosting arrangements. Capitalization of software development costs and deferral of implementation costs for hosting arrangements begin in the application development stage and end when the asset is placed into service. The Company amortizes such costs using the straight-line method over estimated useful lives of 2 to 10 years, which is included in Selling, general and administrative expenses or Cost of goods sold within the Consolidated Statements of Operations depending on the nature of the asset and its intended use. Central parts represent spare production equipment items which are used to replace worn or broken production equipment parts and help reduce the risk of prolonged equipment outages. The cost of central parts is amortized on a straight-line basis over estimated useful lives of 3 to 10 years. The Company evaluates its investments in unconsolidated affiliates for impairment whenever events or changes in circumstances indicate that the carrying amount might not be recoverable and recognizes an impairment loss when a decline in value below carrying value is determined to be other-than-temporary. Under these circumstances, the Company would adjust the investment down to its estimated fair value, which then becomes its new carrying value. Leases - The Company determines whether an arrangement contains a lease at inception by determining if the contract conveys the right to control the use of identified plant, property, and equipment for a period of time in exchange for consideration and other facts and circumstances as defined by Accounting Standards Codification 842, Leases (“ASC 842”). For each lease which has an accounting lease term of greater than 12 months, the Company records the right-of-use asset and lease liability on the balance sheet. The accounting lease term includes cancellable and renewal periods which are reasonably assured. The lease liability is measured utilizing the incremental borrowing rate unless the Company can specifically determine the rate implicit in the lease. Leases are evaluated for appropriate classification as operating or financing at lease inception. For leases classified as finance leases at lease inception, the Company records a finance lease asset and lease financing obligation equal to the present value of the minimum lease payments. The finance lease right of use asset is recorded in Property, plant and equipment, net and amortized to its expected residual value at the end of the lease term using the straight-line method, and the lease financing obligation is amortized using the effective interest method over the lease term with the rental payments being allocated to principal and interest. For leases classified as operating leases, the Company records the operating lease right of use asset in Other assets and operating lease obligation in Other accrued liabilities and Other liabilities. Operating lease rent expense is recognized over the useful life using the straight-line method. Foreign Currency Translation - Assets and liabilities of foreign subsidiaries with a functional currency other than the U.S. dollar are translated into U.S. dollars at the current rate of exchange on the last day of the reporting period. Revenues and expenses are translated at a monthly average exchange rate and equity transactions are translated using either the actual exchange rate on the day of the transaction or a monthly average historical exchange rate. For the fiscal years ended March 31, 2022 and 2021, the Company’s Accumulated other comprehensive loss (“AOCL”) consisted of foreign currency translation gains and losses. Net Sales - The Company generates revenue by selling pipe and related water management products primarily to distributors, retailers, buying groups and co-operative buying groups. Products are shipped predominately by the Company’s internal fleet, and the Company does not provide any additional revenue generating services after product delivery. Payment terms and conditions vary by contract. Revenue is recognized at the point in-time obligations under the terms of a contract with a customer are satisfied, which generally occurs upon the transfer of control of the promised goods. In substantially all of the Company’s contracts with customers, control is transferred to the customer upon delivery. The Company recognizes revenue in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Shipping Costs - The Company incurs shipping costs to deliver products to customers using an in-house fleet or common carrier. Typically shipping costs are prepaid and included in the product price; however, in some instances, the Company bills shipping costs to customers. Shipping costs are also incurred to physically move raw materials, tooling and products between manufacturing and distribution facilities. Shipping costs to deliver products to customers for the fiscal years ended March 31, 2022, 2021, and 2020 were $242.0 million, $174.2 million, and $149.0 million, respectively, and are included in Cost of goods sold. Stock-Based Compensation - See “Note 14. Stock-Based Compensation” for information about the stock-based compensation award programs and related accounting policies. Advertising - The Company expenses advertising costs as incurred. Advertising costs are recorded in Selling, general and administrative expenses in the Consolidated Statements of Operations. The total advertising costs were $6.0 million, $4.1 million, and $4.9 million for the fiscal years ended March 31, 2022, 2021, and 2020, respectively . Self-Insurance - The Company is self-insured for short-term disability and medical coverage it provides for substantially all eligible employees. The Company is self-insured for medical claims up to the individual and aggregate stop-loss coverage limits. The Company accrues for claims incurred but not reported based on an estimate of future claims related to events that occurred prior to the fiscal year end if it has not met the aggregate stop-loss coverage limit. Amounts expensed totaled $45.6 million, $42.4 million, and $50.3 million for the fiscal years ended March 31, 2022, 2021, and 2020, respectively, of which employees contributed $10.7 million, $8.5 million, and $7.9 million, respectively . ADS is also self-insured for various other general insurance programs to the extent of the applicable deductible limits on the Company’s insurance coverage. These programs include primarily automobile, general liability, cybersecurity and employment practices coverage with a deductible of $0.5 million per occurrence for general liability and $0.8 million per occurrence for automobile or claim incurred. Amounts expensed during the period, including an estimate for claims incurred but not reported at year end, were $3.2 million, $1.7 million, and $2.5 million, for the years ended March 31, 2022, 2021, and 2020, respectively. ADS is also self-insured for workers’ compensation insurance with stop-loss coverage for claims that exceed $0.3 million per incident up to the respective state statutory limits. Amounts expensed, including an estimate for claims incurred but not reported, were $4.1 million, $3.0 million, and $3.0 million for the fiscal years ended March 31, 2022, 2021, and 2020, respectively. Income Taxes - Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized and represent the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. They are measured using the enacted tax rates expected to apply to taxable income in the years in which the related temporary differences are expected to be recovered or settled. Valuation allowances are established against deferred tax assets when it is more likely than not that the realization of those deferred tax assets will not occur. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The deferred income tax provision represents the change during the reporting period in the deferred tax assets and deferred tax liabilities. Penalties and interest recorded on income taxes payable are recorded as part of Income tax expense. The Company determines whether an uncertain tax position is more likely than not to be sustained upon examination, including resolution of any related appeals or litigation process, based upon the technical merits of the position. For tax positions meeting the more likely than not threshold, the tax amount recognized in the financial statements is the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant taxing authority. Fair Values - The fair value framework requires the categorization of assets and liabilities into three levels based upon assumptions (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. ADS’s policy for determining when transfers between levels have occurred is to use the actual date of the event or change in circumstances that caused the transfer. Concentrations of Risk - The Company has a large, active customer base of approximately 17,000 customers with two customers, Ferguson Enterprises and Core and Main, each representing more than 10% of annual net sales. Such customers accounted for 24.2%, 22.8%, and 24.3% of fiscal 2022, 2021 and 2020 net sales, respectively. The Company’s customer base is diversified across the range of end markets that it serves. Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of Receivables. The Company provides its products to customers based on an evaluation of the customers’ financial condition, generally without requiring collateral. Exposure to losses on Receivables is principally dependent on each customer’s financial condition. The Company performs ongoing credit evaluations of its customers. The Company monitors the exposure for credit losses and maintains allowances for anticipated losses. Concentrations of credit risk with respect to Receivables are limited due to the large number of customers comprising the Company’s customer base and their dispersion across many different geographies. One customer, Ferguson Enterprises, accounted for approximately 16.4% and 18.1% of Receivables at March 31, 2022 and 2021, respectively. Derivatives - The Company recognizes derivative instruments as either assets or liabilities and measure those instruments at fair value. ADS uses interest rate swaps, commodity options in the form of collars and swaps, and foreign currency forward contracts to manage various exposures to interest rate, commodity price, and exchange rate fluctuations. These instruments do not qualify for hedge accounting treatment. Interest rate swap gains and losses resulting from the difference between the spot rate and applicable base rate is recorded in the Consolidated Statements of Operations in Interest expense. For commodity options in the form of collars and swaps, and foreign currency forward contracts, gains and losses from contract settlements and changes in fair value of the derivative instruments are recognized in Derivative (gains) losses and other (income) expense, net in the Consolidated Statements of Operations. The Company’s policy is to present all derivative balances on a gross basis. Recent Accounting Pronouncements Recently Adopted Accounting Guidance Simplifying the Accounting for Income Taxes - In December 2019, the Finance Accounting Standards Board (“FASB”) issued an ASU to simplify the accounting for income taxes by removing certain exceptions to the general principles in ASC 740, Income Taxes and improve the comparability of financial statements. The amendments in this ASU are effective for fiscal years beginning after December 15, 2020, and early adoption is permitted. The Company adopted this standard effective April 1, 2021. The Company’s adoption of the standard had no impact on the Company’s Consolidated Financial Statements. Recent Accounting Guidance Not Yet Adopted Reference Rate Reform - In March 2020, the FASB issued an ASU that provides optional expedients and exceptions related to financial reporting impacts related to the expected market transition from LIBOR to another reference rates. The amendments are effective on March 12, 2020 and an entity may elect to adopt prospectively through December 31, 2022. The Company is currently evaluating the impact of this standard on the Consolidated Financial Statements.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	REVENUE RECOGNITION Revenue is recognized at the point in-time obligations under the terms of a contract with a customer are satisfied, which generally occurs upon the transfer of control of the promised goods. In substantially all of the Company’s contracts with customers, control is transferred to the customer upon delivery. The Company recognizes revenue in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Revenue is presented in the Consolidated Statements of Operations net of allowances for returns, rebates, discounts, and taxes collected concurrently with revenue-producing activities. The Company disaggregates net sales by Domestic, International and Infiltrator 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 18. Business Segments Information" for the Company’s disaggregation of Net sales by reportable segment. Significant Judgments - The Company’s performance obligation under contracts with customers is to sell and deliver pipe and related water management products. The Company’s contracts with customers may contain multiple performance obligations by promising to deliver multiple products to the customer. For these contracts, the Company accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. The Company’s products are generally sold with a right of return, and the Company may provide credits or incentives, which are accounted for as variable consideration when estimating the amount of revenue to recognize. Variable consideration is estimated at contract inception and updated at the end of each reporting period as additional information becomes available and only to the extent that it is probable that a significant reversal of any incremental revenue will not occur. Contract Balances - The Company recognizes a contract asset representing the Company’s right to recover products upon the receipt of returned products and a contract liability for the customer refund. The following table presents the balance of the Company’s contract asset and liability as of March 31, 2022 and 2021: March 31, March 31, (In thousands) Contract asset - product returns $ 978 $ 694 Refund liability 2,356 1,801 Practical Expedients and Exemptions - The Company expenses incremental costs to obtain a contract (e.g. sales commissions) when incurred as the amortization period would have been one year or less. These costs are recorded within Selling, general and administrative expenses on the Consolidated Statements of Operations. The Company elected to account for shipping and handling costs as activities to fulfill the promise to transfer the goods when these activities are performed after a customer obtains control of the goods. The Company elected to exclude from the transaction price all sales taxes that are assessed by a governmental authority and that are imposed on and concurrent with a specific revenue-producing transaction and collected by the Company from a customer, for example, sales, use, value added, and some excise taxes.

Acquisitions

Acquisitions	12 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	ACQUISITIONS Fiscal 2022 Acquisition of Jet - On December 3, 2021, the Company completed its acquisition of Jet Polymer Recycling, Inc., The Traylor Group, Inc. and certain assets of EAT Properties, L.L.C. (collectively “Jet”). Jet was a privately-owned recycling company located in the southeastern United States. The acquisition of Jet expands the Company's plastic recycling capabilities to support future growth. Jet is currently the largest supplier of recycled polypropylene plastic for Infiltrator. Jet is included in the Pipe reporting segment. The total fair value of consideration transferred was $49.5 million. The following table summarizes the consideration transferred and the preliminary purchase price allocation of assets acquired and liabilities assumed. The purchase price allocation for assets acquired and liabilities assumed is preliminary and will be finalized when valuations are complete and final assessments of the fair value of acquired assets and assumed liabilities are completed. Such finalization may result in material changes from the preliminary purchase price allocations. 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. (Amounts in thousands) Initial Amount Increase to Purchase Price Adjustments to Property, plant and equipment and Intangible assets Tax Adjustments Updated Amount Cash $ 160 $ — $ — $ — $ 160 Total current assets, excluding cash 12,993 — — — 12,993 Property, plant and equipment 22,495 — 512 — 23,007 Goodwill 12,597 99 (2,212) 650 11,134 Intangible assets 11,500 — 1,700 — 13,200 Other assets 158 — — — 158 Total current liabilities (5,750) — — — (5,750) Deferred tax liabilities (2,999) — — (650) (3,649) Other liabilities (1,784) — — — (1,784) Total fair value of consideration transferred $ 49,370 $ 99 $ — $ — $ 49,469 The preliminary goodwill of $11.1 million represents the excess of consideration transferred over the preliminary fair value of assets acquired and liabilities assumed and is attributable to expected operating efficiencies. The goodwill is not deductible for income tax purposes and is assigned to the Pipe segment. The preliminary purchase price excludes transaction costs. The Company incurred $2.6 million of transaction costs related to the acquisition such as legal, accounting, valuation and other professional services during the fiscal year ended March 31, 2022. These costs are included in Selling, general and administrative expenses in the Consolidated Statements of Operations and Consolidated Statements of Comprehensive Income. The identifiable intangible assets recorded in connection with the closing of the acquisition of Jet are based on preliminary valuations including supplier and customer relationships, tradename and non-compete agreements totaling $13.2 million. (Amounts in thousands) Preliminary fair value Supplier and customer relationships $ 11,300 Other 1,900 Total identifiable intangible assets $ 13,200 The Company has excluded certain disclosures required under ASC 805, Business Combinations as they are not material to the financial statements. Fiscal 2020 Acquisition of Infiltrator - On July 31, 2019 (the “Closing Date”), the Company completed its Acquisition of Infiltrator pursuant to an Agreement and Plan of Merger (the “Merger Agreement”) dated July 31, 2019. Infiltrator 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 $1,147.2 million. The Merger Agreement was funded through a bridge loan facility. The results of operations of Infiltrator are included in the Consolidated Statements of Operations after July 31, 2019. The net sales to external customers of Infiltrator since the acquisition are included in the Consolidated Statements of Operations for the fiscal year ended March 31, 2020 was $169.3 million. The income before taxes of Infiltrator since the acquisition are included in the Consolidated Statements of Operations for the fiscal year ended March 31, 2020 was $8.2 million. The unaudited pro forma information for the fiscal years ended March 31, 2020 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 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. 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. (Amounts in thousands) 2020 Net sales $ 1,760,208 Net income (loss) attributable to ADS (145,244)

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment, net as of the fiscal years ended March 31 consisted of the following: (Amounts in thousands) 2022 2021 Land, buildings and improvements $ 308,942 $ 263,191 Machinery and production equipment 756,482 646,592 Transportation equipment 97,016 210,738 Construction in progress 80,928 71,873 Total cost 1,243,368 1,192,394 Less: accumulated depreciation (623,985) (688,119) Property, plant and equipment, net $ 619,383 $ 504,275 The following table sets forth depreciation expense related to Property, plant and equipment in each of the fiscal years ended March 31: (Amounts in thousands) 2022 2021 2020 Depreciation expense (inclusive of leased assets depreciation) $ 73,514 $ 68,034 $ 64,642

Leases

Leases	12 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	LEASES 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 remaining terms of less than one year to 30 years. A portion of the Company’s real estate 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 exercised in its right-of-use assets and lease liabilities. The Company’s lease payments are generally fixed. For 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 years ended March 31, 2022, 2021, and 2020 were: (Amounts in thousands) Income Statement Classification 2022 2021 2020 Operating lease cost Operating lease cost Cost of goods sold $ 12,663 $ 8,391 $ 5,548 Operating lease cost Selling, general and administrative 1,335 1,593 1,204 Short-term lease cost Cost of goods sold 4,813 3,963 2,393 Total operating lease cost $ 18,811 $ 13,947 $ 9,145 Finance lease cost Amortization of right-of-use assets Cost of goods sold 12,986 16,442 17,059 Amortization of right-of-use assets Selling, general and administrative 1,413 1,433 2,543 Interest on lease liabilities Interest expense 1,679 2,436 4,344 Total finance lease cost $ 16,078 $ 20,311 $ 23,946 Supplemental cash flow information related to leases for the periods presented were as follows: (Amounts in thousands) 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 13,998 $ 9,984 $ 6,572 Operating cash flows used for finance leases 1,932 3,205 4,675 Financing cash flows used for finance leases 50,447 21,491 27,119 Right-of-use assets obtained in exchange for lease obligations: Operating leases 38,093 15,173 10,529 Finance leases 17,695 9,907 5,078 Supplemental balance sheet information related to leases as of the periods presented were as follows: (Amounts in thousands) Balance Sheet Classification 2022 2021 Operating leases Right-of-use assets Other assets $ 54,583 $ 31,237 Operating lease liabilities: Current lease liabilities Other accrued liabilities 14,203 8,995 Non-current lease liabilities Other liabilities 41,032 22,393 Total operating lease liabilities $ 55,235 $ 31,388 Finance leases Right-of-use assets Property, plant and equipment 15,420 80,904 Finance lease liabilities: Current lease liabilities Current maturities of finance lease obligations 5,089 19,318 Non-current lease liabilities Long-term finance lease obligations 11,393 32,964 Total finance lease liabilities $ 16,482 $ 52,282 Weighted average lease term (in years): Operating leases 6.00 6.46 Finance leases 4.23 9.39 Weighted average discount rate: Operating leases 3.54 % 3.75 % Finance leases 3.52 % 4.90 % 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 March 31, 2022: (Amounts in thousands) Operating Leases Finance Leases Year 1 $ 15,448 $ 5,217 Year 2 12,523 4,379 Year 3 10,476 2,940 Year 4 7,577 1,889 Year 5 4,095 1,511 Thereafter 11,702 1,364 Total minimum lease payments $ 61,821 $ 17,300 Less: amount representing interest 6,586 818 Present value of net minimum lease payments $ 55,235 $ 16,482
Leases	LEASES 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 remaining terms of less than one year to 30 years. A portion of the Company’s real estate 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 exercised in its right-of-use assets and lease liabilities. The Company’s lease payments are generally fixed. For 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 years ended March 31, 2022, 2021, and 2020 were: (Amounts in thousands) Income Statement Classification 2022 2021 2020 Operating lease cost Operating lease cost Cost of goods sold $ 12,663 $ 8,391 $ 5,548 Operating lease cost Selling, general and administrative 1,335 1,593 1,204 Short-term lease cost Cost of goods sold 4,813 3,963 2,393 Total operating lease cost $ 18,811 $ 13,947 $ 9,145 Finance lease cost Amortization of right-of-use assets Cost of goods sold 12,986 16,442 17,059 Amortization of right-of-use assets Selling, general and administrative 1,413 1,433 2,543 Interest on lease liabilities Interest expense 1,679 2,436 4,344 Total finance lease cost $ 16,078 $ 20,311 $ 23,946 Supplemental cash flow information related to leases for the periods presented were as follows: (Amounts in thousands) 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 13,998 $ 9,984 $ 6,572 Operating cash flows used for finance leases 1,932 3,205 4,675 Financing cash flows used for finance leases 50,447 21,491 27,119 Right-of-use assets obtained in exchange for lease obligations: Operating leases 38,093 15,173 10,529 Finance leases 17,695 9,907 5,078 Supplemental balance sheet information related to leases as of the periods presented were as follows: (Amounts in thousands) Balance Sheet Classification 2022 2021 Operating leases Right-of-use assets Other assets $ 54,583 $ 31,237 Operating lease liabilities: Current lease liabilities Other accrued liabilities 14,203 8,995 Non-current lease liabilities Other liabilities 41,032 22,393 Total operating lease liabilities $ 55,235 $ 31,388 Finance leases Right-of-use assets Property, plant and equipment 15,420 80,904 Finance lease liabilities: Current lease liabilities Current maturities of finance lease obligations 5,089 19,318 Non-current lease liabilities Long-term finance lease obligations 11,393 32,964 Total finance lease liabilities $ 16,482 $ 52,282 Weighted average lease term (in years): Operating leases 6.00 6.46 Finance leases 4.23 9.39 Weighted average discount rate: Operating leases 3.54 % 3.75 % Finance leases 3.52 % 4.90 % 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 March 31, 2022: (Amounts in thousands) Operating Leases Finance Leases Year 1 $ 15,448 $ 5,217 Year 2 12,523 4,379 Year 3 10,476 2,940 Year 4 7,577 1,889 Year 5 4,095 1,511 Thereafter 11,702 1,364 Total minimum lease payments $ 61,821 $ 17,300 Less: amount representing interest 6,586 818 Present value of net minimum lease payments $ 55,235 $ 16,482

Inventories

Inventories	12 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventories	INVENTORIES Inventories as of the fiscal years ended March 31 consisted of the following: (Amounts in thousands) 2022 2021 Raw materials $ 156,050 $ 75,294 Finished goods 338,274 225,667 Total Inventories $ 494,324 $ 300,961

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	GOODWILL AND INTANGIBLE ASSETS Goodwill - The carrying amount of goodwill by reportable segment is as follows: (Amounts in thousands) Pipe Infiltrator International Allied Products & Other Total Balance at March 31, 2020 $ 57,663 $ 495,841 $ 9,873 $ 34,442 $ 597,819 Currency translation — — 1,253 — 1,253 Balance at March 31, 2021 57,663 495,841 11,126 34,442 599,072 Acquisition 11,134 — — — 11,134 Currency translation — — 87 — 87 Balance at March 31, 2022 $ 68,797 $ 495,841 $ 11,213 $ 34,442 $ 610,293 Intangible Assets – Intangible assets as of March 31, 2022 and 2021 consisted of the following: 2022 2021 (Amounts in thousands) Gross Intangible Accumulated Net Intangible Gross Intangible Accumulated Amortization Net Intangible Definite-lived intangible assets Developed technology $ 176,068 $ (64,751) $ 111,317 $ 177,579 $ (49,842) $ 127,737 Supplier and customer relationships 389,125 (140,830) 248,295 377,742 (97,115) 280,627 Patents and non-compete agreements 9,594 (6,837) 2,757 8,985 (6,884) 2,101 Trademarks and tradenames 65,960 (8,808) 57,152 69,878 (10,193) 59,685 Total definite lived intangible assets 640,747 (221,226) 419,521 634,184 (164,034) 470,150 Indefinite-lived intangible assets (a) Trademarks 11,864 — 11,864 11,866 — 11,866 Total Intangible assets $ 652,611 $ (221,226) $ 431,385 $ 646,050 $ (164,034) $ 482,016 (a) Indefinite-lived intangible assets decreased as a result of foreign currency translation. The following table presents the amortization expense and weighted average amortization period for definite-lived intangible assets at March 31, 2022: Amortization expense (in thousands) 2022 2021 2020 Weighted Average Amortization Period (in years) Developed technology $ 16,420 $ 17,405 $ 12,517 6.3 Supplier and customer relationships 43,542 50,177 36,093 12.6 Patents and non-compete agreements 679 699 544 3.4 Trademarks and tradenames 3,333 5,427 7,856 17.1 Total $ 63,974 $ 73,708 $ 57,010 The following table presents the future intangible asset amortization expense based on existing intangible assets at March 31, 2022: Fiscal Year (Amounts in thousands) 2023 2024 2025 2026 2027 Thereafter Total Amortization expense $ 53,214 $ 49,087 $ 45,863 $ 41,874 $ 38,507 $ 190,976 $ 419,521

Fair Value Measurement and Deri

Fair Value Measurement and Derivative Transactions	12 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurement and Derivative Transactions	FAIR VALUE MEASUREMENT AND 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. Mark-to-market adjustments for changes in fair value and contract settlement gains and losses for collars, commodity swaps and foreign currency forward contracts are recorded in the Consolidated Statements of Operations in Derivative gains and other income, net. 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. Recurring Fair Value Measurements The assets and liabilities carried at fair value as of the fiscal years ended March 31 were as follows: March 31, 2022 March 31, 2021 (Amounts in thousands) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Derivative assets — diesel fuel contracts $ 2,618 — $ 2,618 — $ 1,194 — $ 1,194 — Total assets at fair value on a recurring basis $ 2,618 — $ 2,618 — $ 1,194 $ — $ 1,194 $ — Liabilities: Derivative liability - diesel fuel contracts $ 64 — $ 64 — $ 32 — $ 32 — Total liabilities at fair value on a recurring basis $ 64 — $ 64 — $ 32 — $ 32 $ — There were no transfers in or out of Level 3 for the fiscal years ended March 31, 2022 and 2021. A summary of the fair values for the various derivatives at March 31, 2022 and 2021 is presented below: Diesel fuel option collars and swaps Assets Liabilities (Amounts in thousands) Receivables Other assets Other accrued liabilities Other liabilities March 31, 2022 $ 2,499 $ 119 $ (64) $ — March 31, 2021 $ 1,125 $ 69 $ (31) $ (1) The Company recorded net (gains) and net losses on mark-to-market adjustments for changes in the fair value of derivatives contracts as well as net (gains) and net losses on the settlement of derivative contracts as follows: Net Unrealized Mark-to-Market Losses (Gains) (Amounts in thousands) 2022 2021 2020 Interest rate swaps $ — $ — $ 1,029 Diesel fuel option collars and swaps (1,392) (3,355) 2,099 Total net unrealized mark to market losses (gains) $ (1,392) $ (3,355) $ 3,128 Net Realized Losses (Gains) (Amounts in thousands) 2022 2021 2020 Interest rate swaps $ — $ — $ 378 Foreign exchange forward contracts — 47 102 Diesel fuel option collars and swaps (3,012) 1,409 357 Total net realized losses (gains) $ (3,012) $ 1,456 $ 837 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 following table presents the carrying and fair value of the Company’s Senior Notes (as defined below and further discussed in “Note 11 . Debt”) for the periods presented: March 31, 2022 March 31, 2021 (Amounts in thousands) Fair Value Carrying Value Fair Value Carrying Value Senior Notes $ 349,902 $ 350,000 $ 367,633 $ 350,000 Equipment Financing 29,302 31,254 — — Total $ 379,204 $ 381,254 $ 367,633 $ 350,000 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 Company believes the carrying amount on the remaining long-term debt, including the Term Loan Facility and Revolving Credit Facility, is not materially different from its fair value as the interest rates and terms of the borrowings are similar to currently available borrowings .

Investment In Affiliates

Investment In Affiliates	12 Months Ended
	Mar. 31, 2022
Investments in and Advances to Affiliates [Abstract]
Investment In Affiliates	INVESTMENT IN AFFILIATES ADS Mexicana - ADS has one consolidated joint venture, ADS Mexicana, which is 51% owned by the Company’s wholly-owned subsidiary ADS Worldwide, Inc. The equity owned by the Company’s joint venture partner is shown as Noncontrolling interest in subsidiaries in the Consolidated Balance Sheets and the joint venture partner’s portion of net income is shown as Net income attributable to noncontrolling interest in the Consolidated Statements of Operations. ADS participates in joint ventures for the purpose of expanding upon the growth of manufacturing and selling HDPE corrugated pipe and PVC conduit in emerging markets. ADS invested in ADS Mexicana for the purpose of expanding upon growth of manufacturing and selling ADS licensed HDPE corrugated pipe and related products in the Mexican and Central American markets via the joint venture partner’s local presence and expertise throughout the region. The Company executed a Technology, Patents and Trademarks Sub-License Agreement and a Distribution Agreement with ADS Mexicana that provides ADS Mexicana with the rights to manufacture and sell ADS licensed products in Mexico and Central America. The Company has concluded that it holds a variable interest in and is the primary beneficiary of ADS Mexicana based on the power to direct the most significant activities of ADS Mexicana and the obligation to absorb losses and the right to receive benefits that could be significant to ADS Mexicana. As the primary beneficiary, the Company is required to consolidate the assets and liabilities of ADS Mexicana. The table below includes the assets and liabilities of ADS Mexicana that are consolidated as of March 31, 2022 and 2021. The balances exclude intercompany transactions that are eliminated upon consolidation. (Amounts in thousands) 2022 2021 Assets Current assets $ 28,005 $ 21,556 Property, plant and equipment, net 14,061 13,891 Other noncurrent assets 1,933 1,425 Total assets $ 43,999 $ 36,872 Liabilities Current liabilities $ 11,150 $ 9,186 Noncurrent liabilities 1,575 1,462 Total liabilities $ 12,725 $ 10,648 South American Joint Venture - The Company participates in an unconsolidated joint venture, the South American Joint Venture, which is 50% owned by the Company’s wholly-owned subsidiary ADS Chile. The Company’s investment in this unconsolidated joint venture was formed for the purpose of expanding upon the growth of manufacturing and selling HDPE corrugated pipe in the South American market via the joint venture partner’s local presence and expertise throughout the region. The Company has concluded that it is appropriate to account for this investment using the equity method, whereby the Company’s share of the income or loss of the joint venture is reported in the Consolidated Statements of Operations under Equity in net income of unconsolidated affiliates and the Company’s investment in the joint venture is included in Other assets in the Consolidated Balance Sheets. The Company is not required to consolidate the South American Joint Venture as it is not the primary beneficiary, although the Company does hold significant variable interests in the South American Joint Venture through the equity investment and debt guarantee.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS ADS Mexicana - ADS conducts business in Mexico and Central America through its joint venture ADS Mexicana. In fiscal 2019, ADS Mexicana and the Company 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 Intercompany Note indemnifies the ADS Mexicana joint venture partner 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 March 31, 2022 and 2021, there were $1.5 million and no borrowings under the Intercompany Note, respectively. South American Joint Venture - The Company’s South American Joint Venture manufactures and sells HDPE corrugated pipe in the South American market. ADS is the guarantor for 50% of the South American Joint Venture’s credit facility, and the debt guarantee is shared equally with the joint venture partner. The maximum potential obligation under this guarantee totals $11.0 million as of March 31, 2022. The maximum borrowing permitted under the South American Joint Venture’s credit facility is $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, 2023. ADS does not anticipate any required contributions related to the balance of this credit facility. As of March 31, 2022 and 2021, the outstanding principal balance of the credit facility including letters of credit was $9.9 million and $10.0 million, respectively. As of March 31, 2022, there were no U.S. dollar denominated loans. The weighted average interest rate as of March 31, 2022 was 4.3% on Chilean peso denominated loans.

Debt

Debt	12 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Debt	DEBT Long-term debt as of the fiscal years ended March 31 consisted of the following: (Amounts in thousands) 2022 2021 Term Loan Facility $ 434,250 $ 441,250 Senior Notes 350,000 350,000 Revolving Credit Facility 114,300 — Equipment financing 31,254 — Total 929,804 791,250 Unamortized debt issuance costs (1,648) (2,030) Current maturities (19,451) (7,000) Long-term debt obligations $ 908,705 $ 782,220 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. The deferred financing costs associated with the Senior Notes totaled $2.1 million 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. Revolving Credit Facility - On September 24, 2019, the Company successfully completed a $700 million syndication of the remaining balance of its credit facility subsequent to the 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 March 31, 2022 amount to $9.2 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 acquisition of Infiltrator 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 March 31, 2022, 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). Equipment Financing - In November 2021, the Company purchased material handling equipment, trucks and trailers previously leased under a master lease agreement and classified as finance leases. The purchase was funded with debt through the Master Lease Agreement and Interim Funding Schedule with Fifth Third. The assets acquired are titled to the Company and included in Property, plant and equipment, net on the Company's Consolidated Balance Sheet. The equipment financings have a term of between 12 and 84 months, based on the life of the equipment, and bear a weighted average interest of 1.4%. The current portion of the equipment financing is $12.5 million and the long-term portion is $18.8 million at March 31, 2022. Principal Maturities - Maturities of long-term debt (excluding interest and deferred financing costs) as of March 31, 2022 are summarized below: Fiscal Years Ending March 31, (Amounts in thousands) 2023 2024 2025 2026 2027 Thereafter Total Principal maturities $ 19,451 $ 14,770 $ 126,254 $ 10,015 $ 407,442 $ 351,872 $ 929,804

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Purchase Commitments - The Company has historically secured supplies of resin raw material by agreeing to purchase quantities during a future given period at a fixed price. These purchase contracts typically ranged from 1 to 12 months and occur in the ordinary course of business. The Company, also, enters into equipment purchase contracts with manufacturers. The Company does not have any outstanding purchase commitments as of March 31, 2022. Litigation and Other Proceedings - 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.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Mar. 31, 2022
Postemployment Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS Employee Stock Ownership Plan (“ESOP”) - The Company established the Advanced Drainage Systems, Inc. ESOP (the “ESOP” or the “Plan”) effective April 1, 1993. The Plan was funded through a transfer of assets from the Company’s tax-qualified profit-sharing retirement plan, as well as a 30-year term loan from ADS. Prior to the loan repayment in March 2022, the Plan operated as a tax-qualified leveraged ESOP and was designed to enable eligible employees to acquire stock ownership interest in ADS. Employees of ADS who have reached the age of 18 were generally eligible to participate in the Plan on March 31 after six months of service. Upon retirement, disability, death, or vested terminations, (i) a participant or designated beneficiary was able to elect to receive the amount in their account attributable to the 1993 transfer of assets from the Company’s tax-qualified profit sharing retirement plan in the form of cash or ADS stock with any fractional shares paid in cash; (ii) stock credited to the participants’ ESOP stock account resulting from the ESOP’s loan repayments were distributed in the form of ADS stock, and (iii) amounts credited to the participants’ ESOP cash account were distributed in the form of cash. Upon attainment of age 50 and seven years of participation in the Plan, a participant could elect to diversify specified percentages of the number of shares of ADS stock credited to the participant’s ESOP stock account in compliance with applicable law. The Company was obligated to make contributions to the Plan, which, when aggregated with the Plan’s dividends on the Plan’s unallocated shares of redeemable convertible preferred stock, equal the amount necessary to enable the Plan to make its regularly scheduled payments of principal and interest due on its term loan to ADS. As the Plan made annual payments of principal and interest, an appropriate percentage of preferred stock was allocated to ESOP participants’ accounts in accordance with plan terms that are compliant with applicable Internal Revenue Code and regulatory provisions. Required dividends on allocated shares are generally passed through and paid in cash to the participants based on the total shares in their account and required dividends on unallocated shares are paid in cash to the Plan and generally used to service the Plan’s debt. The carrying value of redeemable convertible preferred stock held by the ESOP trust, but not yet earned by the ESOP participants or used for dividends, was reported as Deferred compensation - unearned ESOP shares within the Mezzanine equity section of the Consolidated Balance Sheets. In February 2022, the Company made a cash contribution to the ESOP, and the ESOP repaid the remaining ESOP loan triggering the release of the remaining 0.3 million shares of Preferred Stock from the pledge, resulting in the ESOP acceleration. As a result of the ESOP acceleration, the Company recognized additional compensation expense of $30.4 million. In April 2022, all currently outstanding shares of Preferred Stock held by the ESOP were converted into shares of the Company’s common stock at the Conversion Rate of 0.7692. Compensation expense and related dividends paid with ESOP shares for services rendered throughout the period are recognized based upon the annual fair value of the shares allocated. Deferred compensation - unearned ESOP shares is relieved at fair value, with any difference between the annual fair value and the carrying value of shares when allocated being added to Additional paid in capital. Information regarding ESOP compensation expense (excluding the ESOP Acceleration and Special Dividend Compensation) are included below: (Amounts in thousands, except per share values) 2022 2021 2020 Fair value of shares allocated $ 91.41 $ 79.56 $ 22.70 Average annual fair value per share $ 85.49 $ 51.13 $ 21.31 ESOP compensation expense $ 53,401 $ 44,981 $ 20,126 Redeemable Convertible Preferred Stock - Prior to the conversion of preferred stock to common stock, the Trustee of the Company’s ESOP had the ability to put shares of the redeemable convertible preferred stock to the Company absent a market for the Company’s common stock, and as a result the redeemable convertible preferred stock was classified as Mezzanine equity in the Company’s Consolidated Balance Sheets. The put option requirements of the Internal Revenue Code apply in the event that the Company’s common stock is not a registration type class of security or its trading has been restricted. Therefore, the holders of Redeemable convertible preferred stock had a put right to require the Company to repurchase such shares in the event that the common stock is not listed for trading or otherwise quoted on the NYSE, AMEX, NASDAQ, or any other market more senior than the OTC Bulletin Board. As of March 31, 2022, the applicable redemption value was $0.7818 per share as there were no unpaid cumulative dividends. The Redeemable convertible preferred stock has a required cumulative 2.5% dividend (based on the liquidation value of $0.7818 per share) and is convertible at a rate of 0.7692 shares of common stock for each share of Redeemable convertible preferred stock. The 2.5% annual dividend is payable in cash or additional shares of the Redeemable convertible preferred stock. Cash and stock dividends on allocated Redeemable convertible preferred stock for the fiscal years ended March 31, 2022 and 2021, respectively, are summarized in the following table. (Amounts in thousands) 2022 2021 Quarterly cash dividends $ 5,645 $ 5,238 Annual cash dividends 1 4 Total cash dividends $ 5,646 $ 5,242 Annual stock dividend 294 349 Annual cash dividend 1 4 Total ESOP required dividends $ 295 $ 353 Allocated shares 15,133 18,124 Required dividend per share 0.0195 0.0195 Required dividends $ 295 $ 353 Executive Retirement Expense – ADS has employment agreements with certain executives that include potential payments to be made to those executives upon termination at the required retirement age, which is accrued on a straight-line basis over the service period. The Company recognized compensation benefit related to the executive termination payments of $0.1 million in the fiscal year ended March 31, 2022. The Company did not recognized expense in the fiscal year ended March 31, 2021. The Company recognized $0.2 million of compensation expense in the fiscal year ended March 31, 2020. The expense is included in Selling, general and administrative expenses in the Consolidated Statements of Operations. As of March 31, 2022 and 2021, the executive termination payment obligation was $1.4 million and $2.5 million, respectively, and is included in Other accrued liabilities and Other liabilities in the Consolidated Balance Sheets. Profit-Sharing Retirement Plan - The Company has a tax-qualified profit-sharing retirement plan with a 401(k) feature, into which Infiltrator is part of beginning in the fiscal year ended March 31, 2022, covering substantially all U.S. eligible employees. Except for employer matching contributions made on behalf of Infiltrator employee-participants, the Company did not make employer contributions to this plan in the fiscal years ended March 31, 2022, 2021, and 2020. On April 11, 2022, our ESOP was merged into our existing 401(k) retirement plan effective April 1, 2022 (the "KSOP") completed the conversion of all outstanding shares of our preferred stock held by the ESOP on March 31, 2022, and then by the KSOP into common stock, in accordance with the conversion terms of the preferred stock. After the conversion, the common stock held by the KSOP will remain classified as mezzanine equity as the shares are subject to the put option requirements of the Internal Revenue Code . The Company has defined contribution postretirement benefit plans covering Canadian employees. The Company recognized costs of $1.5 million, $0.6 million and $0.5 million in the fiscal years ended March 31, 2022, 2021, and 2020, respectively. COVID-19 Pandemic Pay – In fiscal 2021, the Company communicated to all hourly employees that each would be entitled to the equivalent of two weeks, or 80 hours, of pandemic pay regardless of whether they experienced any interruption of employment. The Company recognized pandemic pay costs in Costs of goods sold on the Company’s Consolidated Statement of Operations and accrued pandemic pay liability in Other accrued liabilities on the Company’s Consolidated Balance Sheet of $4.8 million in the fiscal year ended March 31, 2021. The Company did not recognize any pandemic pay in fiscal year 2022.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATIONThe Company has several programs for stock-based payments to employees and directors, including stock options, performance-based restricted units and restricted stock. Stock-based compensation expense is recorded in Selling, general and administrative expenses and Cost of goods sold in the Consolidated Statements of Operations. The Company recognized stock-based compensation expense in the following line items on the Consolidated Statements of Operations for the fiscal years ended March 31, 2022, 2021, and 2020: (Amounts in thousands) 2022 2021 2020 Component of income before income taxes: Cost of goods sold $ 2,680 $ 1,931 $ 897 Selling, general and administrative expenses 21,478 18,522 11,372 Total stock-based compensation expense $ 24,158 $ 20,453 $ 12,269 The following table summarizes stock-based compensation expense by award type for the fiscal years ended March 31, 2022, 2021, and 2020: (Amounts in thousands) 2022 2021 2020 Stock-based compensation expense: Stock options $ 3,204 $ 2,908 $ 2,554 Restricted stock 5,846 5,177 3,807 Performance-based restricted stock units 13,307 11,017 4,682 Non-employee director restricted stock 1,801 1,351 1,226 Total stock-based compensation expense $ 24,158 $ 20,453 $ 12,269 Stock option awards are measured based on the grant date estimated fair value of each award. Compensation expense for stock options is recognized on a straight-line basis over the employee’s requisite service period, which is generally the vesting period of the grant. The Company estimates the fair value of stock options using a Black-Scholes option-pricing model. The following table summarizes the assumptions used in estimating the fair value of stock options: 2022 2021 2020 Common stock price $105.82 $41.97 - $71.55 $27.44 - $41.85 Expected stock price volatility 41.0% 35.5% - 36.3% 30.1% - 30.9% Risk-free interest rate 1.1% 0.4% - 0.6% 1.4% - 2.3% Weighted-average expected life (years) 6.0 6.0 6.0 Dividend yield 0.3% 0.5% - 0.9% 0.9% - 1.3% The fair value of restricted stock and performance-based restricted stock units is based on the fair value of the Company’s common stock at the date of grant. Compensation expense is recognized on a straight-line basis over the employee’s requisite service period, which is generally the vesting period of the grant. 2017 Omnibus Plan On May 24, 2017, the Board of Directors approved the 2017 Omnibus Incentive Plan which was approved by the Company’s stockholders on July 17, 2017 (the “2017 Incentive Plan”). On May 19, 2021, the Board of Directors adopted an amendment to the 2017 Incentive Plan to increase the total number of shares available for issuance from 3.5 million to 5.0 million, which was approved by the Company's stockholders on July 22, 2021. The 2017 Incentive Plan, as amended, provides for the issuance of a maximum of 5.0 million shares of the Company’s common stock for awards made thereunder, which awards may consist of stock options, restricted stock, restricted stock units, stock appreciation rights, phantom stock, cash-based awards, performance awards (which may take the form of performance cash, performance units or performance shares) or other stock-based awards. The Company had approximately 2.6 million shares available for awards as of March 31, 2022. Stock Options - The stock option activity for the fiscal year ended March 31, 2022 is summarized as follows: (Share amounts in thousands) Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Outstanding at beginning of year 939 $ 29.69 7.9 Granted 101 105.82 — Exercised (80) 30.08 — Forfeited (16) 49.11 — Outstanding at end of year 944 37.48 7.1 Vested at end of year 582 26.26 6.4 Unvested at end of year 362 55.50 8.1 Fair value of options granted during the year $ 41.36 As of March 31, 2022, there was a total of $4.2 million of unrecognized compensation expense related to unvested stock option awards under the 2017 Incentive Plan, as amended, that will be recognized as an expense as the awards vest over the remaining weighted average service period of 1.8 years. All outstanding options are expected to vest. The aggregate intrinsic value for options outstanding and exercisable as of March 31, 2022 was $76.8 million and $53.8 million, respectively. The total intrinsic value of options exercised during the fiscal years ended March 31, 2022, 2021, and 2020 were $6.8 million, $4.0 million and $0.1 million, respectively. Restricted Stock - The information about the unvested restricted stock grants as of March 31, 2022 is as follows: (Share amounts in thousands) Number of Shares Weighted Average Grant Date Fair Value Unvested at beginning of year 382 $ 36.03 Granted 74 110.96 Vested (202) 34.82 Forfeited (9) 60.51 Unvested at end of year 245 $ 58.68 At March 31, 2022, there was approximately $7.3 million of unrecognized compensation expense related to the restricted stock that will be recognized over the weighted average remaining service period of 1.7 years. The total fair value of restricted stock that vested during fiscal year ended March 31, 2022, 2021 and 2020 was $7.0 million, $3.6 million and $2.3 million, respectively. Performance-based Restricted Units (“performance units”) - The information about the performance units granted under the 2017 Omnibus Plan is as follows: (Share amounts in thousands) Number of Shares Weighted Average Grant Date Fair Value Unvested at beginning of year 485 $ 35.21 Granted 65 105.82 Added by Performance Factor 115 25.85 Vested (245) 25.85 Forfeited (16) 43.79 Unvested at end of year 404 $ 46.34 At March 31, 2022, there was approximately $8.7 million of unrecognized compensation expense related to the performance units that will be recognized over the weighted average remaining service period of 1.5 years. For the performance units granted in fiscal 2022, 2021 and 2020, 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 or cash flows from operations for the performance period. The performance units each have a 3-year performance period. 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. In addition to the performance units based on ADS performance, the Company issued performance units based on the achievements of other performance targets. During fiscal year 2020, the Company granted 0.1 million units, subject to achieving predetermined synergies of the now consolidated legacy ADS business and Infiltrator, and 0.1 million units, subject to performance conditions of the Infiltrator reportable segment. For the performance units based on the Infiltrator reportable segment, 75% of the award is based upon the achievement of certain levels of Adjusted EBITDA for the performance period and 25% is based upon the achievement of certain levels of Free cash flow for the performance period. These two performance unit grants have a performance period from August 1, 2019 through March 31, 2022. 2000 and 2013 Stock Options Plans 2000 Plan - The Company’s 2000 stock option plan (“2000 Plan”) provided for the issuance of statutory and non-statutory stock options to management based upon the discretion of the Board of Directors. The plan generally provided for grants with the exercise price equal to fair value on the date of grant, which vest in three equal annual amounts beginning in year five and expire after approximately 10 years from issuance. The Company had no shares available for grant under the 2000 Plan as of March 31, 2022. 2013 Plan - The Company’s 2013 stock option plan (“2013 Plan”) provided for the issuance of non-statutory common stock options to management subject to the Board’s discretion. The plan generally provided for grants with the exercise price equal to fair value on the date of grant. The grants generally vest in three to five equal annual amounts beginning in year one and expire after approximately 10 years from issuance. The Company had no shares available for grant under the 2013 Plan as of March 31, 2022. All outstanding options are expected to vest. The stock option activity for the fiscal year ended March 31, 2022 is summarized as follows: 2000 Plan 2013 Plan (Share amounts in thousands) Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Outstanding at beginning of year 37 $ 14.97 2.6 316 $ 19.48 3.7 Granted — — — — — — Exercised (24) 14.96 — (102) 16.88 — Forfeited — — — — — — Outstanding at end of year 13 15.00 1.7 214 20.72 3.0 Vested at end of year 13 15.00 1.7 214 20.72 3.0 Unvested at end of year — $ — — — $ — — For the 2000 Plan, the aggregate intrinsic value for options outstanding and currently exercisable as of March 31, 2022 was $1.4 million and $1.4 million, respectively. The total intrinsic value of options exercised during the fiscal years ended March 31, 2022, 2021, and 2020 were $2.4 million, $2.1 million and $0.2 million, respectively. For the 2013 Plan, the aggregate intrinsic value for options outstanding and currently exercisable as of March 31, 2022 was $21.0 million and $21.0 million, respectively. The total fair value of options that vested during the fiscal years ended March 31, 2022, 2021, and 2020 were less than $0.1 million, $0.1 million, and $0.8 million, respectively. The total intrinsic value of options exercised during the fiscal year ended March 31, 2022 was $10.8 million. 2008 Restricted Stock Plan On September 16, 2008, the Board of Directors adopted the restricted stock plan, which provided for the issuance of restricted stock awards to certain key employees. Employees with restricted stock have the right to dividends on the shares awarded (vested and unvested) in addition to voting rights on non-forfeited shares. The Company had no shares available for grant under this plan as of March 31, 2022. The Company expects all restricted stock grants to vest. During the fiscal years ended March 31, 2022, 2021, and 2020, the total fair value of restricted stock that vested was less than $0.1 million, $0.2 million and $0.9 million, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The components of Income (loss) before income taxes for the fiscal years ended March 31 are as follows: (Amounts in thousands) 2022 2021 2020 United States $ 355,763 $ 291,296 $ (186,209) Foreign 27,748 20,975 6,595 Total $ 383,511 $ 312,271 $ (179,614) The components of Income tax expense for the fiscal years ended March 31 consisted of the following: (Amounts in thousands) 2022 2021 2020 Current: Federal $ 76,220 $ 76,986 $ 10,867 State and local 23,484 17,189 4,655 Foreign 8,143 5,921 1,546 Total current tax expense 107,847 100,096 17,068 Deferred: Federal 6,629 (12,250) 210 State and local (3,159) (1,269) (1,228) Foreign (1,246) (195) (1,958) Total deferred tax expense (benefit) 2,224 (13,714) (2,976) Total Income tax expense $ 110,071 $ 86,382 $ 14,092 For the fiscal years ended March 31, the effective tax rate varied from the statutory Federal income tax rate as a result of the following factors: 2022 2021 2020 Federal statutory rate 21.0 % 21.0 % 21.0 % ESOP stock appreciation, ESOP dividends and special dividend (a) 4.3 2.7 (30.3) Effect of tax rate of foreign subsidiaries 0.4 0.5 0.6 State and local taxes—net of federal income tax benefit 4.2 3.9 (1.7) Uncertain tax position change (0.2) (0.5) 1.2 Equity-based compensation (2.9) (1.4) 1.1 Executive compensation 2.6 1.5 (0.8) Net operating losses — 0.2 1.9 Other (0.7) (0.2) (0.9) Effective rate 28.7 % 27.7 % (7.9) % (a) This includes the special dividend paid in the first quarter of fiscal 2020 that resulted in $246.8 million in additional stock-based compensation. Of the total stock-based compensation expense and dividends paid, approximately $242.9 million related to non-deductible stock appreciation and deductible dividends. This decreased the effective tax rate by 28.4%. See “Note 16. Net Income Per Share and Stockholders’ Equity” for additional information. As of March 31, 2022, the Company intends to repatriate earnings from Canada and believes that there will be no additional tax costs associated with the repatriation of such earnings other than any potential non-U.S. withholding taxes. No deferred tax liability has been recognized as of March 31, 2022. The Company has approximately $22.2 million of undistributed earnings from other foreign entities that are intended to be reinvested indefinitely with the exception of cash dividends paid by the Company’s ADS Mexicana joint venture. It is not practicable to estimate the amount of U.S. tax, which would primarily relate to withholding tax, that might be payable on the eventual remittance of such undistributed earnings. The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at March 31 were comprised of: (Amounts in thousands) 2022 2021 Deferred tax assets: Stock-based compensation $ 5,736 $ 5,084 Operating lease liabilities 13,702 7,403 Other 12,243 12,488 Total deferred tax assets 31,681 24,975 Less: valuation allowance (269) (405) Total net deferred tax assets 31,412 24,570 Deferred tax liabilities: Intangible assets 94,834 106,012 Property, plant and equipment 82,193 66,546 Operating lease assets 13,540 7,365 Goodwill 6,824 5,686 Other 1,345 568 Total deferred tax liabilities 198,736 186,177 Net deferred tax liabilities $ 167,324 $ 161,607 Net deferred tax assets and liabilities are included in Other assets and Deferred tax liabilities, respectively, on the Consolidated Balance Sheets. The related balances at March 31 were as follows: (Amounts in thousands) 2022 2021 Net non-current deferred tax assets $ 1,111 $ 578 Net non-current deferred tax liabilities 168,435 162,185 Accounting for Uncertain Tax Positions As of March 31, 2022, The Company had unrecognized tax benefit of $0.7 million, which if resolved favorably, would reduce income tax expense by $0.7 million. A reconciliation of the beginning and ending amounts of unrecognized tax benefits for the years ended March 31 is as follows: (Amounts in thousands) 2022 2021 2020 Balance at beginning of year $ 1,686 $ 3,343 $ 5,681 Tax positions taken in current year — — — Decreases in tax positions for prior years (118) — (1,398) Increases in tax positions for prior years — 105 1,907 Settlements — (284) (124) Lapse of statute of limitations (817) (1,640) (2,589) Foreign translation adjustment (5) 162 (134) Balance at end of year $ 746 $ 1,686 $ 3,343 The short-term portion of the unrecognized tax benefit of $0.1 million at March 31, 2022 is recorded in Other accrued liabilities on the Company’s Consolidated Balance Sheet. The long-term portion of unrecognized tax benefits are recorded in Other liabilities in the Company’s Consolidated Balance Sheets. These amounts include potential accrued interest and penalties of $0.2 million and $0.5 million at March 31, 2022 and 2021, respectively. The Company believes that over the next twelve months, it is reasonably possible that up to $0.1 million of unrecognized tax benefits could be resolved as the result of settlements of audits and the expiration of statutes of limitation. Final settlement of these issues may result in payments that are more or less than this amount, but the Company does not anticipate that the resolution of these matters will result in a material change to its consolidated financial position or results of operations. The Company is currently open to audit under the statute of limitations by the IRS for the fiscal years ended March 31, 2019 through March 31, 2022. The majority of the Company’s state income tax returns are open to audit under the statute of limitations for the years ended March 31, 2018 through March 31, 2022. The foreign income tax returns are open to audit under the statute of limitations for the years ended March 31, 2018 through March 31, 2022.

Net Income Per Share and Stockh

Net Income Per Share and Stockholders' Equity	12 Months Ended
	Mar. 31, 2022
Net Income Per Share And Stockholders Equity [Abstract]
Net Income Per Share and Stockholders' Equity	NET INCOME PER SHARE AND STOCKHOLDERS’ EQUITY Basic net income per share is calculated by dividing the Net income available to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration for common stock equivalents. Diluted net income per share is computed by dividing the Net income available to common stockholders by the weighted-average number of common stock equivalents outstanding for the period. Holders of redeemable convertible preferred stock participate in dividends on an as-converted basis when declared on common stock. As a result, redeemable convertible preferred stock meets the definition of participating securities, which requires the Company 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 dilutive effect of stock options, redeemable common stock, performance units and unvested nonparticipating restricted stock is based on the more dilutive of the treasury stock method or the diluted two-class method. These potential common stock equivalents are only included in the calculations when their effect is dilutive. The following table presents information necessary to calculate net income per share for the fiscal years ended March 31, 2022, 2021, and 2020, 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: (Amounts in thousands, except per share data) 2022 2021 2020 NET INCOME (LOSS) PER SHARE — BASIC: Net income (loss) attributable to ADS $ 271,331 $ 224,230 $ (193,174) Adjustment for: Dividends paid to participating securities (5,940) (5,591) (11,544) Net income available to common stockholders and participating securities 265,391 218,639 (204,718) Undistributed income allocated to participating securities (35,859) (33,251) — Net income available to common stockholders — Basic 229,532 185,388 (204,718) Weighted average number of common shares outstanding — Basic 71,276 70,155 63,820 Net income (loss) per common share — Basic $ 3.22 $ 2.64 $ (3.21) NET INCOME (LOSS) PER SHARE — DILUTED: Net income (loss) available to common stockholders — Diluted 229,532 185,388 (204,718) Weighted average number of common shares outstanding — Basic 71,276 70,155 63,820 Assumed restricted stock - nonparticipating 245 247 — Assumed exercise of stock options 882 844 — Assumed performance units 508 320 — Weighted average number of common shares outstanding — Diluted 72,911 71,566 63,820 Net income (loss) per common share —Diluted $ 3.15 $ 2.59 $ (3.21) Potentially dilutive securities excluded as anti-dilutive 12,925 14,594 14,449 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 repurchased 2.6 million shares of common stock at a cost of $292.0 million during the fiscal year March 31, 2022. The Company did not repurchase any shares during the fiscal year ended March 31, 2021. The repurchases were made under the Board of Directors' authorization in May 2021 to repurchase an additional $250 million of ADS Common Stock, in addition to the $42 million previously authorized, in accordance with applicable security laws. In February 2022, the Company announced that the Board approved a $1.0 billion stock repurchase program (the “Repurchase Program”) of ADS common stock in accordance with applicable securities laws. The Repurchase Program replaces the previously established share repurchase program, which has no remaining available capacity. 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. Employees Stock Ownership Plan (“ESOP”) and the Special Dividend - During fiscal year ended March 31, 2020, the Board of Directors approved a special cash dividend of $1.00 per share and quarterly dividends of $0.09 per share. 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 acceleration and special dividend compensation and Selling, general and administrative - ESOP acceleration and special dividend compensation on the Company’s Consolidated Statement of Operations. The Company’s ESOP is further described in "Note 13. Employee Benefit Plans".

Other Accrued Liabilities

Other Accrued Liabilities	12 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Other Accrued Liabilities	OTHER ACCRUED LIABILITIES Other accrued liabilities as of fiscal years ended March 31 consisted of the following: (Amounts in thousands) 2022 2021 Accrued compensation and benefits (a) $ 52,822 $ 42,075 Accrued rebate liability (b) 24,331 16,834 Lease liability - Operating leases 14,203 8,995 Self-insurance accruals 7,048 11,257 Other 36,473 36,990 Total accrued liabilities $ 134,877 $ 116,151 (a) Accrued compensation and benefits is primarily comprised of accrued payroll, bonuses and commissions. (b) Accrued rebate liability represents the Company’s estimated rebates to be paid to customers.

Business Segment Information

Business Segment Information	12 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Business Segment Information	BUSINESS SEGMENT INFORMATION ADS operates its business in three distinct reportable segments: “Pipe”, “International” and “Infiltrator.” “Allied Products & Other” represents the Company’s Allied Products and all other business segments. “Pipe” and “Allied Products & Other” were previously included as Domestic. The Chief Operating Decision Maker (“CODM”) reviews financial information and makes operational decisions based on Net Sales and Segment Adjusted Gross Profit. The Company calculates Segment Adjusted Gross Profit as net sales less costs of goods sold, depreciation and amortization, stock-based compensation, non-cash charges and certain other expenses. A measure of assets is not applicable, as segment assets are not regularly reviewed by the CODM for evaluating performance or allocating resources. 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 – Infiltrator is a leading national provider of plastic leachfield chambers and systems, septic tanks and accessories, primarily for use in residential applications. Infiltrator products are used in onsite 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 purchase the Company’s broad line of Allied Products & Other for sales internationally. Allied Products & Other – Allied Products & Other manufactures and markets products throughout the United States. Products include StormTech, Nyloplast, ARC Septic Chambers, Inserta Tee, water quality filters and 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 Company aggregates operating segments within the Allied Products & Other segment disclosure. None of the operating segments within the Allied Products & Other businesses segment disclosure exceeds the quantitative thresholds for separate segment reporting. 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 fiscal years ended March 31: 2022 (Amounts in thousands) Net Sales Intersegment Net Sales Net Sales from External Customers Pipe $ 1,555,248 $ (15,814) $ 1,539,434 Infiltrator 551,906 (91,406) 460,500 International International - Pipe 171,525 (19,430) 152,095 International - Allied Products & Other 53,217 — 53,217 Total International 224,742 (19,430) 205,312 Allied Products & Other 569,352 (5,283) 564,069 Intersegment Eliminations (131,933) 131,933 — Total Consolidated $ 2,769,315 $ — $ 2,769,315 2021 (Amounts in thousands) Net Sales Intersegment Net Sales Net Sales from External Customers Pipe $ 1,059,200 $ (6,280) $ 1,052,920 Infiltrator 397,813 (68,669) 329,144 International International - Pipe 121,468 (6,589) 114,879 International - Allied Products & Other 43,390 — 43,390 Total International 164,858 (6,589) 158,269 Allied Products & Other 442,447 — 442,447 Intersegment Eliminations (81,538) 81,538 — Total Consolidated $ 1,982,780 $ — $ 1,982,780 2020 (Amounts in thousands) Net Sales Intersegment Net Sales Net Sales from External Customers Pipe $ 954,633 $ (2,030) $ 952,603 Infiltrator 211,005 (41,657) 169,348 International International - Pipe 108,624 — 108,624 International - Allied Products & Other 39,957 — 39,957 Total International 148,581 — 148,581 Allied Products & Other 403,273 — 403,273 Intersegment Eliminations (43,687) 43,687 — Total Consolidated $ 1,673,805 $ — $ 1,673,805 The following sets forth certain financial information attributable to the reportable segments for the fiscal years ended March 31: (Amounts in thousands) 2022 2021 2020 Segment adjusted gross profit Pipe $ 353,182 $ 322,846 $ 239,531 Infiltrator 231,825 191,163 98,245 International 58,822 49,921 36,999 Allied Products & Other 284,091 225,052 201,206 Intersegment Eliminations (28) (503) (1,895) Total $ 927,892 $ 788,479 $ 574,086 Depreciation and amortization Pipe $ 49,601 $ 46,078 $ 46,611 Infiltrator 14,021 12,468 7,159 International 5,464 5,430 6,013 Allied Products & Other (a) 72,722 81,610 65,157 Total $ 141,808 $ 145,586 $ 124,940 Capital expenditures Pipe $ 64,660 $ 17,135 $ 33,629 Infiltrator 72,435 54,024 24,917 International 3,301 1,627 2,623 Allied Products & Other (a) 8,687 5,971 6,508 Total $ 149,083 $ 78,757 $ 67,677 (a) Includes depreciation and amortization and capital expenditures not allocated to a reportable segment. The amortization expense of Infiltrator intangible assets acquired is included in Allied Products & Other. Reconciliation of Gross Profit to Segment Adjusted Gross Profit (Amounts in thousands) 2022 2021 2020 Reconciliation of Segment Adjusted Gross Profit: Total Gross Profit $ 800,384 $ 690,082 $ 316,479 Depreciation and amortization 71,705 66,408 62,225 ESOP and stock-based compensation expense 36,622 31,792 14,319 ESOP acceleration and special dividend compensation 19,181 — 168,610 COVID-19 related expenses (a) — 197 4,573 Inventory step up related to Infiltrator acquisition — — 7,880 Total Segment Adjusted Gross Profit $ 927,892 $ 788,479 $ 574,086 (a) Represents the Company’s pandemic pay expense included in Gross profit in connection with the Company’s response to the COVID-19 pandemic, see “Note 13. Employee Benefit Plans” for additional information. Geographic Sales and Assets Information Net sales are attributed to the geographic location based on the location of the customer. The table below represents the Net sales and long-lived asset information by geographic location for each of the fiscal years ended March 31: (Amounts in thousands) 2022 2021 2020 Net Sales North America $ 2,746,521 $ 1,966,947 $ 1,655,219 Other 22,794 15,833 18,586 Total $ 2,769,315 $ 1,982,780 $ 1,673,805 (Amounts in thousands) 2022 2021 Long-Lived Assets (a) North America $ 628,985 $ 511,290 Other 12,463 11,861 Total $ 641,448 $ 523,151 (a) For segment reporting purposes, long-lived assets include Investments in unconsolidated affiliates, Central parts and Property, plant and equipment.

Supplemental Disclosures of Cas

Supplemental Disclosures of Cash Flow Information	12 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures of Cash Flow Information	SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION Supplemental disclosures of cash flow information for the fiscal years ended March 31 were as follows: (Amounts in thousands) 2022 2021 2020 Supplemental disclosures of cash flow information — cash paid during years: Interest $ 32,837 $ 37,614 $ 41,290 Income taxes 106,355 97,636 8,710 (Amounts in thousands) 2022 2021 2020 Supplemental disclosures of noncash investing and financing activities: Redeemable convertible preferred stock dividend $ 294 $ 349 $ 359 Purchases of plant, property, and equipment included in accounts payable 18,328 6,754 1,588 Accrued withholding taxes on vesting of restricted stock units 2,669 — — ESOP distributions in common stock 45,560 28,585 13,109 Lease obligations retired upon disposition of leased assets 589 1,940 799

Subsequent Events

Subsequent Events	12 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Dividends on Common Stock - During the first quarter of fiscal 2023, the Company declared a quarterly cash dividend of $0.12 per share of common stock. The dividend is payable on June 15, 2022 to stockholders of record at the close of business on June 1, 2022. Acquisition - On April 29, 2022, the Company completed its acquisition of substantially all of the assets of Cultec, Inc. (“Cultec”). Cultec was a family-owned technology leader in the stormwater and onsite septic wastewater industries. The acquisition of Cultec expands the Company’s portfolio of innovative water management solutions in the stormwater and onsite septic wastewater industries. Employee Stock Ownership Plan - In April 2022, all currently outstanding shares of Preferred Stock held by the ESOP were converted into shares of the Company’s common stock. See “Note 13. Employee Benefit Plans” for additional information.

Schedule II - Consolidated Valu

Schedule II - Consolidated Valuation and Qualifying Accounts	12 Months Ended
	Mar. 31, 2022
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
Schedule II - Consolidated Valuation and Qualifying Accounts	SCHEDULE II ADVANCED DRAINAGE SYSTEMS, INC. AND SUBSIDIARIES Consolidated Valuation and Qualifying Accounts for the Fiscal Years Ended March 31, 2022, 2021 and 2020 (in thousands): Allowance for Credit Losses: Fiscal Year ended March 31, Balance at beginning of period Charged to costs and expenses (1) CECL Adoption (2) Charged to other accounts (3) Deductions Balance at end of period 2022 $ 5,323 $ 3,237 $ — $ 123 $ (485) $ 8,198 2021 5,035 1,338 779 99 (1,928) 5,323 2020 7,653 (24) — (234) (2,360) 5,035 (1) Amount for the year ended March 31, 2020 includes $0.4 million due to the Acquisition. (2) Amount represents the impact of the adoption of ASU 2016-13. (3) Amounts represent the impact of foreign currency translation.

Background and Summary of Sig_2

Background and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation - The 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 Consolidated Balance Sheets and the related equity in earnings from these investments are included in Equity in net income of unconsolidated affiliates in the Consolidated Statements of Operations. All intercompany balances and transactions have been eliminated in consolidation.
Estimates	Estimates - The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingencies and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period. Significant estimates include, but are not limited to, the allowance for credit losses, valuation of inventory, useful lives of property, plant and equipment and amortizing intangible assets, determination of the proper accounting for leases, valuation of equity method investments, goodwill, intangible assets and other long-lived assets for impairment, accounting for stock-based compensation and the ESOP, valuation of the redeemable convertible preferred stock, determination of allowances for sales returns, rebates and discounts, determination of the valuation allowance, if any, on deferred tax assets, and reserves for uncertain tax positions. Management’s estimates and assumptions are evaluated on an ongoing basis and are based on historical experience, current conditions and available information. Management believes the accounting estimates are appropriate and reasonably determined; however, due to the inherent uncertainties in making these estimates, actual results could differ from those estimates.
Receivables and Allowance for Credit Losses	Receivables and Allowance for Credit Losses - Receivables include trade receivables, net of an allowance for credit losses, and other miscellaneous receivables. Receivables at March 31, 2022 and 2021 are as follows: (Amounts in thousands) 2022 2021 Trade receivables, net $ 339,585 $ 233,753 Other miscellaneous receivables 2,168 2,438 Receivables, net $ 341,753 $ 236,191 The Company extends credit to customers based on an evaluation of their financial condition and collateral is generally not required. The Company records an allowance for credit losses at the time accounts receivable are
Inventories	Inventories - Inventories are stated at the lower of cost or net realizable value. The Company’s inventories are maintained on the first-in, first-out (“FIFO”) method. Costs include the cost of acquiring materials, including in-bound freight from vendors and freight incurred for the transportation of raw materials, tooling or finished goods between the Company’s manufacturing plants and its distribution centers, direct and indirect labor, factory overhead and certain corporate overhead costs related to the production of inventory.
Property, Plant and Equipment and Depreciation Method	Property, Plant and Equipment and Depreciation Method - Property, plant and equipment are recorded at cost less accumulated depreciation, with the exception of assets acquired through acquisitions, which are initially recorded at fair value. Equipment acquired under finance lease is recorded at the present value of the future minimum lease payments. Depreciation is computed for financial reporting purposes using the straight-line method over the estimated useful lives of the related assets or the lease term, if shorter, as follows: Years Buildings and leasehold improvements 20 to 45 or the lease term if shorter Machinery and production equipment 3 to 18 Transportation equipment 3 to 12 Costs of additions and major improvements are capitalized, whereas maintenance and repairs that do not improve or extend the life of the asset are charged to expense as incurred. When assets are retired or disposed, the cost and related accumulated depreciation are removed from the asset accounts and any resulting gain or loss is reflected in Loss on disposal of assets and costs from exit and disposal activities in the Consolidated Statements of Operations. Construction in progress is also recorded at cost and includes capitalized interest, capitalized payroll costs and related costs such as taxes and other fringe benefits.
Goodwill	Goodwill - The Company records acquisitions resulting in the consolidation of an enterprise using the acquisition method of accounting. Under this method, the Company records the assets acquired, including intangible assets that can be identified, and liabilities assumed based on their estimated fair values at the date of acquisition. The purchase price in excess of the fair value of the identifiable assets acquired and liabilities assumed is recorded as goodwill. Goodwill is reviewed annually for impairment as of March 31 or whenever events or changes in circumstances indicate the carrying value may be greater than fair value. If the fair value of the reporting unit exceeds the carrying value of the net assets assigned to that unit, goodwill is not considered impaired and the Company is not required to perform further testing. If the carrying value of a reporting unit’s goodwill exceeds its fair value, then the Company would record an impairment loss equal to the difference. With respect to this testing, a reporting unit is a component of the Company for which discrete financial information is available and regularly reviewed by management. The fair value of each reporting unit is determined by considering both the income and market approach. Determining the fair value of a reporting unit is judgmental in nature and involves the use of significant estimates and assumptions. These estimates and assumptions include revenue growth rates and operating margins used to calculate projected future cash flows, risk-adjusted discount rates, future economic and market conditions, and determination of appropriate market comparison. The fair value estimates are based on assumptions management believes to be reasonable but are inherently uncertain. For the fiscal year ended March 31, 2021, the Company completed a quantitative assessment of the Infiltrator and Canada reporting units and determined no impairment charges were required. For the fiscal year ended March 31, 2020, the Company completed a quantitative fair value assessment for all reporting units and determined no impairment charges were required.
Intangible Assets - Definite-Lived	Intangible Assets — Definite-Lived - Definite-lived intangible assets are amortized using the straight-line method or an accelerated method over their estimated useful lives and are tested for recoverability whenever events or changes in circumstances indicate that carrying amounts of the asset group may not be recoverable. Asset groups are established primarily by determining the lowest level of cash flows available. If the estimated undiscounted future cash flows are less than the carrying amounts of such assets, an impairment loss is recognized to the extent the fair value of the asset less any costs of disposition is less than the carrying amount of the asset. Determining the fair value of these assets is judgmental in nature and involves the use of significant estimates and assumptions.
Intangible Assets - Indefinite-Lived	Intangible Assets — Indefinite-Lived - Indefinite-lived intangible assets are tested for impairment annually as of March 31 or whenever events or changes in circumstances indicate the carrying value may be greater than fair value. Determining the fair value of these assets is judgmental in nature and involves the use of significant estimates and assumptions. The Company bases its fair value estimates on assumptions it believes to be reasonable, but that are inherently uncertain. To estimate the fair value of these indefinite-lived intangible assets, the Company uses an income approach, which utilizes a market derived rate of return to discount anticipated performance. An impairment loss is recognized when the estimated fair value of the intangible asset is less than the carrying value. ADS completed a quantitative fair value measurement of indefinite-lived trademarks as of March 31, 2020. The test indicated that the fair value of the indefinite-lived trademarks substantially exceeded the carrying value, indicating that no impairment existed. GAAP allows entities testing indefinite-lived intangible assets for impairment the option of performing a qualitative assessment before calculating the fair value of the indefinite-lived intangible assets for the impairment test. If the qualitative assessment is performed, an entity is no longer required to calculate the fair value of an indefinite-lived intangible assets unless the entity determines that, based on that assessment, it is more likely than not that its fair value is less than its carrying amount. ADS applied the qualitative assessment to specific trademarks for the annual impairment tests performed as of March 31, 2022 and 2021. For the qualitative tests, ADS assessed various assumptions, events and circumstances that would have affected the estimated fair value of the reporting unit as compared to its latest quantitative fair value measurement. The results of these assessments indicated that it is not more likely than not that the trademarks fair value is less than the reporting unit carrying value. The Company did not incur any impairment charges for Intangible assets.
Other Assets	Other Assets - Other assets include operating lease right of use assets, investments in unconsolidated affiliates accounted for under the equity method, capitalized software development costs, including cloud computing costs, deposits, central parts, and other miscellaneous assets. See “Note 5. Leases” for further information on the operating lease right of use assets. The Company capitalizes development costs for internal use software and defers implementation costs for hosting arrangements. Capitalization of software development costs and deferral of implementation costs for hosting arrangements begin in the application development stage and end when the asset is placed into service. The Company amortizes such costs using the straight-line method over estimated useful lives of 2 to 10 years, which is included in Selling, general and administrative expenses or Cost of goods sold within the Consolidated Statements of Operations depending on the nature of the asset and its intended use. Central parts represent spare production equipment items which are used to replace worn or broken production equipment parts and help reduce the risk of prolonged equipment outages. The cost of central parts is amortized on a straight-line basis over estimated useful lives of 3 to 10 years.
Leases	Leases - The Company determines whether an arrangement contains a lease at inception by determining if the contract conveys the right to control the use of identified plant, property, and equipment for a period of time in exchange for consideration and other facts and circumstances as defined by Accounting Standards Codification 842, Leases (“ASC 842”). For each lease which has an accounting lease term of greater than 12 months, the Company records the right-of-use asset and lease liability on the balance sheet. The accounting lease term includes cancellable and renewal periods which are reasonably assured. The lease liability is measured utilizing the incremental borrowing rate unless the Company can specifically determine the rate implicit in the lease. Leases are evaluated for appropriate classification as operating or financing at lease inception. For leases classified as finance leases at lease inception, the
Foreign Currency Translation	Foreign Currency Translation - Assets and liabilities of foreign subsidiaries with a functional currency other than the U.S. dollar are translated into U.S. dollars at the current rate of exchange on the last day of the reporting period. Revenues and expenses are translated at a monthly average exchange rate and equity transactions are translated using either the actual exchange rate on the day of the transaction or a monthly average historical exchange rate. For the fiscal years ended March 31, 2022 and 2021, the Company’s Accumulated other comprehensive loss (“AOCL”) consisted of foreign currency translation gains and losses.
Net Sales	Net Sales - The Company generates revenue by selling pipe and related water management products primarily to distributors, retailers, buying groups and co-operative buying groups. Products are shipped predominately by the Company’s internal fleet, and the Company does not provide any additional revenue generating services after product delivery. Payment terms and conditions vary by contract.
Shipping Costs	Shipping Costs - The Company incurs shipping costs to deliver products to customers using an in-house fleet or common carrier. Typically shipping costs are prepaid and included in the product price; however, in some instances, the Company bills shipping costs to customers. Shipping costs are also incurred to physically move raw materials, tooling and products between manufacturing and distribution facilities.
Stock-Based Compensation	Stock-Based Compensation - See “Note 14. Stock-Based Compensation” for information about the stock-based compensation award programs and related accounting policies.
Advertising	Advertising - The Company expenses advertising costs as incurred. Advertising costs are recorded in Selling, general and administrative expenses in the Consolidated Statements of Operations.
Self-Insurance	Self-Insurance - The Company is self-insured for short-term disability and medical coverage it provides for substantially all eligible employees. The Company is self-insured for medical claims up to the individual and aggregate stop-loss coverage limits. The Company accrues for claims incurred but not reported based on an estimate of future claims related to events that occurred prior to the fiscal year end if it has not met the aggregate stop-loss coverage limit. Amounts expensed totaled $45.6 million, $42.4 million, and $50.3 million for the fiscal years ended March 31, 2022, 2021, and 2020, respectively, of which employees contributed $10.7 million, $8.5 million, and $7.9 million, respectively . ADS is also self-insured for various other general insurance programs to the extent of the applicable deductible limits on the Company’s insurance coverage. These programs include primarily automobile, general liability, cybersecurity and employment practices coverage with a deductible of $0.5 million per occurrence for general liability and $0.8 million per occurrence for automobile or claim incurred. Amounts expensed during the period, including an estimate for claims incurred but not reported at year end, were $3.2 million, $1.7 million, and $2.5 million, for the years ended March 31, 2022, 2021, and 2020, respectively. ADS is also self-insured for workers’ compensation insurance with stop-loss coverage for claims that exceed $0.3 million per incident up to the respective state statutory limits. Amounts expensed, including an estimate for claims incurred but not reported, were $4.1 million, $3.0 million, and $3.0 million for the fiscal years ended March 31, 2022, 2021, and 2020, respectively.
Income Taxes	Income Taxes - Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized and represent the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. They are measured using the enacted tax rates expected to apply to taxable income in the years in which the related temporary differences are expected to be recovered or settled. Valuation allowances are established against deferred tax assets when it is more likely than not that the realization of those deferred tax assets will not occur. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The deferred income tax provision represents the change during the reporting period in the deferred tax assets and deferred tax liabilities. Penalties and interest recorded on income taxes payable are recorded as part of Income tax expense. The Company determines whether an uncertain tax position is more likely than not to be sustained upon examination, including resolution of any related appeals or litigation process, based upon the technical merits of the position. For tax positions meeting the more likely than not threshold, the tax amount recognized in the financial statements is the largest amount of tax benefit that has a greater than 50% likelihood of being realized upon ultimate settlement with the relevant taxing authority.
Fair Values	Fair Values - The fair value framework requires the categorization of assets and liabilities into three levels based upon assumptions (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment. ADS’s policy for determining when transfers between levels have occurred is to use the actual date of the event or change in circumstances that caused the transfer.
Concentrations of Risk	Concentrations of Risk - The Company has a large, active customer base of approximately 17,000 customers with two customers, Ferguson Enterprises and Core and Main, each representing more than 10% of annual net sales. Such customers accounted for 24.2%, 22.8%, and 24.3% of fiscal 2022, 2021 and 2020 net sales, respectively. The Company’s customer base is diversified across the range of end markets that it serves. Financial instruments that potentially subject the Company to a concentration of credit risk consist principally of Receivables. The Company provides its products to customers based on an evaluation of the customers’ financial condition, generally without requiring collateral. Exposure to losses on Receivables is principally dependent on each customer’s financial condition. The Company performs ongoing credit evaluations of its customers. The Company monitors the exposure for credit losses and maintains allowances for anticipated losses. Concentrations of credit risk with respect to Receivables are limited due to the large number of customers comprising the Company’s customer base and their dispersion across many different geographies. One customer, Ferguson Enterprises, accounted for approximately 16.4% and 18.1% of Receivables at March 31, 2022 and 2021, respectively.
Derivatives	Derivatives - The Company recognizes derivative instruments as either assets or liabilities and measure those instruments at fair value. ADS uses interest rate swaps, commodity options in the form of collars and swaps, and foreign currency forward contracts to manage various exposures to interest rate, commodity price, and exchange rate fluctuations. These instruments do not qualify for hedge accounting treatment. Interest rate swap gains and losses resulting from the difference between the spot rate and applicable base rate is recorded in the Consolidated Statements of Operations in Interest expense. For commodity options in the form of collars and swaps, and foreign currency forward contracts, gains and losses from contract settlements and changes in fair value of the derivative instruments are recognized in Derivative (gains) losses and other (income) expense, net in the Consolidated Statements of Operations. The Company’s policy is to present all derivative balances on a gross basis.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Recently Adopted Accounting Guidance Simplifying the Accounting for Income Taxes - In December 2019, the Finance Accounting Standards Board (“FASB”) issued an ASU to simplify the accounting for income taxes by removing certain exceptions to the general principles in ASC 740, Income Taxes and improve the comparability of financial statements. The amendments in this ASU are effective for fiscal years beginning after December 15, 2020, and early adoption is permitted. The Company adopted this standard effective April 1, 2021. The Company’s adoption of the standard had no impact on the Company’s Consolidated Financial Statements. Recent Accounting Guidance Not Yet Adopted Reference Rate Reform - In March 2020, the FASB issued an ASU that provides optional expedients and exceptions related to financial reporting impacts related to the expected market transition from LIBOR to another reference rates. The amendments are effective on March 12, 2020 and an entity may elect to adopt prospectively through December 31, 2022. The Company is currently evaluating the impact of this standard on the Consolidated Financial Statements.

Background and Summary of Sig_3

Background and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Receivables	Receivables at March 31, 2022 and 2021 are as follows: (Amounts in thousands) 2022 2021 Trade receivables, net $ 339,585 $ 233,753 Other miscellaneous receivables 2,168 2,438 Receivables, net $ 341,753 $ 236,191
Schedule of Property, Plant and Equipment	Depreciation is computed for financial reporting purposes using the straight-line method over the estimated useful lives of the related assets or the lease term, if shorter, as follows: Years Buildings and leasehold improvements 20 to 45 or the lease term if shorter Machinery and production equipment 3 to 18 Transportation equipment 3 to 12 Property, plant and equipment, net as of the fiscal years ended March 31 consisted of the following: (Amounts in thousands) 2022 2021 Land, buildings and improvements $ 308,942 $ 263,191 Machinery and production equipment 756,482 646,592 Transportation equipment 97,016 210,738 Construction in progress 80,928 71,873 Total cost 1,243,368 1,192,394 Less: accumulated depreciation (623,985) (688,119) Property, plant and equipment, net $ 619,383 $ 504,275

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Mar. 31, 2022
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 March 31, 2022 and 2021: March 31, March 31, (In thousands) Contract asset - product returns $ 978 $ 694 Refund liability 2,356 1,801

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
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 assets acquired and liabilities assumed. The purchase price allocation for assets acquired and liabilities assumed is preliminary and will be finalized when valuations are complete and final assessments of the fair value of acquired assets and assumed liabilities are completed. Such finalization may result in material changes from the preliminary purchase price allocations. 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. (Amounts in thousands) Initial Amount Increase to Purchase Price Adjustments to Property, plant and equipment and Intangible assets Tax Adjustments Updated Amount Cash $ 160 $ — $ — $ — $ 160 Total current assets, excluding cash 12,993 — — — 12,993 Property, plant and equipment 22,495 — 512 — 23,007 Goodwill 12,597 99 (2,212) 650 11,134 Intangible assets 11,500 — 1,700 — 13,200 Other assets 158 — — — 158 Total current liabilities (5,750) — — — (5,750) Deferred tax liabilities (2,999) — — (650) (3,649) Other liabilities (1,784) — — — (1,784) Total fair value of consideration transferred $ 49,370 $ 99 $ — $ — $ 49,469
Summary of Identifiable Intangible Assets	The identifiable intangible assets recorded in connection with the closing of the acquisition of Jet are based on preliminary valuations including supplier and customer relationships, tradename and non-compete agreements totaling $13.2 million. (Amounts in thousands) Preliminary fair value Supplier and customer relationships $ 11,300 Other 1,900 Total identifiable intangible assets $ 13,200 The following table presents the amortization expense and weighted average amortization period for definite-lived intangible assets at March 31, 2022: Amortization expense (in thousands) 2022 2021 2020 Weighted Average Amortization Period (in years) Developed technology $ 16,420 $ 17,405 $ 12,517 6.3 Supplier and customer relationships 43,542 50,177 36,093 12.6 Patents and non-compete agreements 679 699 544 3.4 Trademarks and tradenames 3,333 5,427 7,856 17.1 Total $ 63,974 $ 73,708 $ 57,010
Summary of Unaudited Pro Forma Information	The unaudited pro forma information for the fiscal years ended March 31, 2020 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 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. 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. (Amounts in thousands) 2020 Net sales $ 1,760,208 Net income (loss) attributable to ADS (145,244)

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	12 Months Ended
	Mar. 31, 2022
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Depreciation is computed for financial reporting purposes using the straight-line method over the estimated useful lives of the related assets or the lease term, if shorter, as follows: Years Buildings and leasehold improvements 20 to 45 or the lease term if shorter Machinery and production equipment 3 to 18 Transportation equipment 3 to 12 Property, plant and equipment, net as of the fiscal years ended March 31 consisted of the following: (Amounts in thousands) 2022 2021 Land, buildings and improvements $ 308,942 $ 263,191 Machinery and production equipment 756,482 646,592 Transportation equipment 97,016 210,738 Construction in progress 80,928 71,873 Total cost 1,243,368 1,192,394 Less: accumulated depreciation (623,985) (688,119) Property, plant and equipment, net $ 619,383 $ 504,275
Depreciation Expense Related to Property, Plant and Equipment	The following table sets forth depreciation expense related to Property, plant and equipment in each of the fiscal years ended March 31: (Amounts in thousands) 2022 2021 2020 Depreciation expense (inclusive of leased assets depreciation) $ 73,514 $ 68,034 $ 64,642

Leases (Tables)

Leases (Tables)	12 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Schedule of Components of Lease Cost	Lease Cost - The components of lease cost for the years ended March 31, 2022, 2021, and 2020 were: (Amounts in thousands) Income Statement Classification 2022 2021 2020 Operating lease cost Operating lease cost Cost of goods sold $ 12,663 $ 8,391 $ 5,548 Operating lease cost Selling, general and administrative 1,335 1,593 1,204 Short-term lease cost Cost of goods sold 4,813 3,963 2,393 Total operating lease cost $ 18,811 $ 13,947 $ 9,145 Finance lease cost Amortization of right-of-use assets Cost of goods sold 12,986 16,442 17,059 Amortization of right-of-use assets Selling, general and administrative 1,413 1,433 2,543 Interest on lease liabilities Interest expense 1,679 2,436 4,344 Total finance lease cost $ 16,078 $ 20,311 $ 23,946 Supplemental cash flow information related to leases for the periods presented were as follows: (Amounts in thousands) 2022 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 13,998 $ 9,984 $ 6,572 Operating cash flows used for finance leases 1,932 3,205 4,675 Financing cash flows used for finance leases 50,447 21,491 27,119 Right-of-use assets obtained in exchange for lease obligations: Operating leases 38,093 15,173 10,529 Finance leases 17,695 9,907 5,078
Schedule of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases as of the periods presented were as follows: (Amounts in thousands) Balance Sheet Classification 2022 2021 Operating leases Right-of-use assets Other assets $ 54,583 $ 31,237 Operating lease liabilities: Current lease liabilities Other accrued liabilities 14,203 8,995 Non-current lease liabilities Other liabilities 41,032 22,393 Total operating lease liabilities $ 55,235 $ 31,388 Finance leases Right-of-use assets Property, plant and equipment 15,420 80,904 Finance lease liabilities: Current lease liabilities Current maturities of finance lease obligations 5,089 19,318 Non-current lease liabilities Long-term finance lease obligations 11,393 32,964 Total finance lease liabilities $ 16,482 $ 52,282 Weighted average lease term (in years): Operating leases 6.00 6.46 Finance leases 4.23 9.39 Weighted average discount rate: Operating leases 3.54 % 3.75 % Finance leases 3.52 % 4.90 %
Lessee, Operating Lease, Liability, Maturity	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 March 31, 2022: (Amounts in thousands) Operating Leases Finance Leases Year 1 $ 15,448 $ 5,217 Year 2 12,523 4,379 Year 3 10,476 2,940 Year 4 7,577 1,889 Year 5 4,095 1,511 Thereafter 11,702 1,364 Total minimum lease payments $ 61,821 $ 17,300 Less: amount representing interest 6,586 818 Present value of net minimum lease payments $ 55,235 $ 16,482
Finance Lease, Liability, Fiscal Year Maturity	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 March 31, 2022: (Amounts in thousands) Operating Leases Finance Leases Year 1 $ 15,448 $ 5,217 Year 2 12,523 4,379 Year 3 10,476 2,940 Year 4 7,577 1,889 Year 5 4,095 1,511 Thereafter 11,702 1,364 Total minimum lease payments $ 61,821 $ 17,300 Less: amount representing interest 6,586 818 Present value of net minimum lease payments $ 55,235 $ 16,482

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories as of the fiscal years ended March 31 consisted of the following: (Amounts in thousands) 2022 2021 Raw materials $ 156,050 $ 75,294 Finished goods 338,274 225,667 Total Inventories $ 494,324 $ 300,961

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying Amount of Goodwill by Reportable Segment	Goodwill - The carrying amount of goodwill by reportable segment is as follows: (Amounts in thousands) Pipe Infiltrator International Allied Products & Other Total Balance at March 31, 2020 $ 57,663 $ 495,841 $ 9,873 $ 34,442 $ 597,819 Currency translation — — 1,253 — 1,253 Balance at March 31, 2021 57,663 495,841 11,126 34,442 599,072 Acquisition 11,134 — — — 11,134 Currency translation — — 87 — 87 Balance at March 31, 2022 $ 68,797 $ 495,841 $ 11,213 $ 34,442 $ 610,293
Summary of Intangible Assets	Intangible Assets – Intangible assets as of March 31, 2022 and 2021 consisted of the following: 2022 2021 (Amounts in thousands) Gross Intangible Accumulated Net Intangible Gross Intangible Accumulated Amortization Net Intangible Definite-lived intangible assets Developed technology $ 176,068 $ (64,751) $ 111,317 $ 177,579 $ (49,842) $ 127,737 Supplier and customer relationships 389,125 (140,830) 248,295 377,742 (97,115) 280,627 Patents and non-compete agreements 9,594 (6,837) 2,757 8,985 (6,884) 2,101 Trademarks and tradenames 65,960 (8,808) 57,152 69,878 (10,193) 59,685 Total definite lived intangible assets 640,747 (221,226) 419,521 634,184 (164,034) 470,150 Indefinite-lived intangible assets (a) Trademarks 11,864 — 11,864 11,866 — 11,866 Total Intangible assets $ 652,611 $ (221,226) $ 431,385 $ 646,050 $ (164,034) $ 482,016 (a) Indefinite-lived intangible assets decreased as a result of foreign currency translation.
Summary of Identifiable Intangible Assets	The identifiable intangible assets recorded in connection with the closing of the acquisition of Jet are based on preliminary valuations including supplier and customer relationships, tradename and non-compete agreements totaling $13.2 million. (Amounts in thousands) Preliminary fair value Supplier and customer relationships $ 11,300 Other 1,900 Total identifiable intangible assets $ 13,200 The following table presents the amortization expense and weighted average amortization period for definite-lived intangible assets at March 31, 2022: Amortization expense (in thousands) 2022 2021 2020 Weighted Average Amortization Period (in years) Developed technology $ 16,420 $ 17,405 $ 12,517 6.3 Supplier and customer relationships 43,542 50,177 36,093 12.6 Patents and non-compete agreements 679 699 544 3.4 Trademarks and tradenames 3,333 5,427 7,856 17.1 Total $ 63,974 $ 73,708 $ 57,010
Future Intangible Asset Amortization Expense	The following table presents the future intangible asset amortization expense based on existing intangible assets at March 31, 2022: Fiscal Year (Amounts in thousands) 2023 2024 2025 2026 2027 Thereafter Total Amortization expense $ 53,214 $ 49,087 $ 45,863 $ 41,874 $ 38,507 $ 190,976 $ 419,521

Fair Value Measurement and De_2

Fair Value Measurement and Derivative Transactions (Tables)	12 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Carried at Fair Value	The assets and liabilities carried at fair value as of the fiscal years ended March 31 were as follows: March 31, 2022 March 31, 2021 (Amounts in thousands) Total Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Assets: Derivative assets — diesel fuel contracts $ 2,618 — $ 2,618 — $ 1,194 — $ 1,194 — Total assets at fair value on a recurring basis $ 2,618 — $ 2,618 — $ 1,194 $ — $ 1,194 $ — Liabilities: Derivative liability - diesel fuel contracts $ 64 — $ 64 — $ 32 — $ 32 — Total liabilities at fair value on a recurring basis $ 64 — $ 64 — $ 32 — $ 32 $ —
Schedule of Derivative Assets at Fair Value	A summary of the fair values for the various derivatives at March 31, 2022 and 2021 is presented below: Diesel fuel option collars and swaps Assets Liabilities (Amounts in thousands) Receivables Other assets Other accrued liabilities Other liabilities March 31, 2022 $ 2,499 $ 119 $ (64) $ — March 31, 2021 $ 1,125 $ 69 $ (31) $ (1)
Schedule of Derivative Liabilities at Fair Value	A summary of the fair values for the various derivatives at March 31, 2022 and 2021 is presented below: Diesel fuel option collars and swaps Assets Liabilities (Amounts in thousands) Receivables Other assets Other accrued liabilities Other liabilities March 31, 2022 $ 2,499 $ 119 $ (64) $ — March 31, 2021 $ 1,125 $ 69 $ (31) $ (1)
Schedule of Derivative Instruments Included in Trading Activities	The Company recorded net (gains) and net losses on mark-to-market adjustments for changes in the fair value of derivatives contracts as well as net (gains) and net losses on the settlement of derivative contracts as follows: Net Unrealized Mark-to-Market Losses (Gains) (Amounts in thousands) 2022 2021 2020 Interest rate swaps $ — $ — $ 1,029 Diesel fuel option collars and swaps (1,392) (3,355) 2,099 Total net unrealized mark to market losses (gains) $ (1,392) $ (3,355) $ 3,128 Net Realized Losses (Gains) (Amounts in thousands) 2022 2021 2020 Interest rate swaps $ — $ — $ 378 Foreign exchange forward contracts — 47 102 Diesel fuel option collars and swaps (3,012) 1,409 357 Total net realized losses (gains) $ (3,012) $ 1,456 $ 837
Summary of Carrying And Fair Value of Senior Notes	The following table presents the carrying and fair value of the Company’s Senior Notes (as defined below and further discussed in “Note 11 . Debt”) for the periods presented: March 31, 2022 March 31, 2021 (Amounts in thousands) Fair Value Carrying Value Fair Value Carrying Value Senior Notes $ 349,902 $ 350,000 $ 367,633 $ 350,000 Equipment Financing 29,302 31,254 — — Total $ 379,204 $ 381,254 $ 367,633 $ 350,000

Investment In Affiliates (Table

Investment In Affiliates (Tables)	12 Months Ended
	Mar. 31, 2022
Investments in and Advances to Affiliates [Abstract]
Assets and Liabilities of Joint Ventures	The table below includes the assets and liabilities of ADS Mexicana that are consolidated as of March 31, 2022 and 2021. The balances exclude intercompany transactions that are eliminated upon consolidation. (Amounts in thousands) 2022 2021 Assets Current assets $ 28,005 $ 21,556 Property, plant and equipment, net 14,061 13,891 Other noncurrent assets 1,933 1,425 Total assets $ 43,999 $ 36,872 Liabilities Current liabilities $ 11,150 $ 9,186 Noncurrent liabilities 1,575 1,462 Total liabilities $ 12,725 $ 10,648

Debt (Tables)

Debt (Tables)	12 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt as of the fiscal years ended March 31 consisted of the following: (Amounts in thousands) 2022 2021 Term Loan Facility $ 434,250 $ 441,250 Senior Notes 350,000 350,000 Revolving Credit Facility 114,300 — Equipment financing 31,254 — Total 929,804 791,250 Unamortized debt issuance costs (1,648) (2,030) Current maturities (19,451) (7,000) Long-term debt obligations $ 908,705 $ 782,220
Maturities of Long-term Debt (Excluding Interest and Deferred Financing Costs)	Maturities of long-term debt (excluding interest and deferred financing costs) as of March 31, 2022 are summarized below: Fiscal Years Ending March 31, (Amounts in thousands) 2023 2024 2025 2026 2027 Thereafter Total Principal maturities $ 19,451 $ 14,770 $ 126,254 $ 10,015 $ 407,442 $ 351,872 $ 929,804

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Mar. 31, 2022
Postemployment Benefits [Abstract]
Employee Stock Ownership Plan (ESOP) Disclosures	Information regarding ESOP compensation expense (excluding the ESOP Acceleration and Special Dividend Compensation) are included below: (Amounts in thousands, except per share values) 2022 2021 2020 Fair value of shares allocated $ 91.41 $ 79.56 $ 22.70 Average annual fair value per share $ 85.49 $ 51.13 $ 21.31 ESOP compensation expense $ 53,401 $ 44,981 $ 20,126
Summarized Cash and Stock Dividends on Allocated Redeemable Convertible Preferred Stock	Cash and stock dividends on allocated Redeemable convertible preferred stock for the fiscal years ended March 31, 2022 and 2021, respectively, are summarized in the following table. (Amounts in thousands) 2022 2021 Quarterly cash dividends $ 5,645 $ 5,238 Annual cash dividends 1 4 Total cash dividends $ 5,646 $ 5,242 Annual stock dividend 294 349 Annual cash dividend 1 4 Total ESOP required dividends $ 295 $ 353 Allocated shares 15,133 18,124 Required dividend per share 0.0195 0.0195 Required dividends $ 295 $ 353

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Summary of Stock-based Compensation Expense	The Company recognized stock-based compensation expense in the following line items on the Consolidated Statements of Operations for the fiscal years ended March 31, 2022, 2021, and 2020: (Amounts in thousands) 2022 2021 2020 Component of income before income taxes: Cost of goods sold $ 2,680 $ 1,931 $ 897 Selling, general and administrative expenses 21,478 18,522 11,372 Total stock-based compensation expense $ 24,158 $ 20,453 $ 12,269 The following table summarizes stock-based compensation expense by award type for the fiscal years ended March 31, 2022, 2021, and 2020: (Amounts in thousands) 2022 2021 2020 Stock-based compensation expense: Stock options $ 3,204 $ 2,908 $ 2,554 Restricted stock 5,846 5,177 3,807 Performance-based restricted stock units 13,307 11,017 4,682 Non-employee director restricted stock 1,801 1,351 1,226 Total stock-based compensation expense $ 24,158 $ 20,453 $ 12,269
Summary of Assumption Used in Estimate Fair Value of Stock Options	The following table summarizes the assumptions used in estimating the fair value of stock options: 2022 2021 2020 Common stock price $105.82 $41.97 - $71.55 $27.44 - $41.85 Expected stock price volatility 41.0% 35.5% - 36.3% 30.1% - 30.9% Risk-free interest rate 1.1% 0.4% - 0.6% 1.4% - 2.3% Weighted-average expected life (years) 6.0 6.0 6.0 Dividend yield 0.3% 0.5% - 0.9% 0.9% - 1.3%
Schedule of Stock Option Activity	Stock Options - The stock option activity for the fiscal year ended March 31, 2022 is summarized as follows: (Share amounts in thousands) Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Outstanding at beginning of year 939 $ 29.69 7.9 Granted 101 105.82 — Exercised (80) 30.08 — Forfeited (16) 49.11 — Outstanding at end of year 944 37.48 7.1 Vested at end of year 582 26.26 6.4 Unvested at end of year 362 55.50 8.1 Fair value of options granted during the year $ 41.36 The stock option activity for the fiscal year ended March 31, 2022 is summarized as follows: 2000 Plan 2013 Plan (Share amounts in thousands) Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in years) Outstanding at beginning of year 37 $ 14.97 2.6 316 $ 19.48 3.7 Granted — — — — — — Exercised (24) 14.96 — (102) 16.88 — Forfeited — — — — — — Outstanding at end of year 13 15.00 1.7 214 20.72 3.0 Vested at end of year 13 15.00 1.7 214 20.72 3.0 Unvested at end of year — $ — — — $ — —
Summary of Unvested Restricted Stock Grants	Restricted Stock - The information about the unvested restricted stock grants as of March 31, 2022 is as follows: (Share amounts in thousands) Number of Shares Weighted Average Grant Date Fair Value Unvested at beginning of year 382 $ 36.03 Granted 74 110.96 Vested (202) 34.82 Forfeited (9) 60.51 Unvested at end of year 245 $ 58.68
Summary of Performance Units Granted	Performance-based Restricted Units (“performance units”) - The information about the performance units granted under the 2017 Omnibus Plan is as follows: (Share amounts in thousands) Number of Shares Weighted Average Grant Date Fair Value Unvested at beginning of year 485 $ 35.21 Granted 65 105.82 Added by Performance Factor 115 25.85 Vested (245) 25.85 Forfeited (16) 43.79 Unvested at end of year 404 $ 46.34

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Components of Income before Income Taxes	The components of Income (loss) before income taxes for the fiscal years ended March 31 are as follows: (Amounts in thousands) 2022 2021 2020 United States $ 355,763 $ 291,296 $ (186,209) Foreign 27,748 20,975 6,595 Total $ 383,511 $ 312,271 $ (179,614)
Components of Income Tax Expense	The components of Income tax expense for the fiscal years ended March 31 consisted of the following: (Amounts in thousands) 2022 2021 2020 Current: Federal $ 76,220 $ 76,986 $ 10,867 State and local 23,484 17,189 4,655 Foreign 8,143 5,921 1,546 Total current tax expense 107,847 100,096 17,068 Deferred: Federal 6,629 (12,250) 210 State and local (3,159) (1,269) (1,228) Foreign (1,246) (195) (1,958) Total deferred tax expense (benefit) 2,224 (13,714) (2,976) Total Income tax expense $ 110,071 $ 86,382 $ 14,092
Effective Tax Rate Varied from Statutory Federal Income Tax Rate	For the fiscal years ended March 31, the effective tax rate varied from the statutory Federal income tax rate as a result of the following factors: 2022 2021 2020 Federal statutory rate 21.0 % 21.0 % 21.0 % ESOP stock appreciation, ESOP dividends and special dividend (a) 4.3 2.7 (30.3) Effect of tax rate of foreign subsidiaries 0.4 0.5 0.6 State and local taxes—net of federal income tax benefit 4.2 3.9 (1.7) Uncertain tax position change (0.2) (0.5) 1.2 Equity-based compensation (2.9) (1.4) 1.1 Executive compensation 2.6 1.5 (0.8) Net operating losses — 0.2 1.9 Other (0.7) (0.2) (0.9) Effective rate 28.7 % 27.7 % (7.9) %
Schedule of Deferred Tax Assets and Liabilities	The tax effect of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at March 31 were comprised of: (Amounts in thousands) 2022 2021 Deferred tax assets: Stock-based compensation $ 5,736 $ 5,084 Operating lease liabilities 13,702 7,403 Other 12,243 12,488 Total deferred tax assets 31,681 24,975 Less: valuation allowance (269) (405) Total net deferred tax assets 31,412 24,570 Deferred tax liabilities: Intangible assets 94,834 106,012 Property, plant and equipment 82,193 66,546 Operating lease assets 13,540 7,365 Goodwill 6,824 5,686 Other 1,345 568 Total deferred tax liabilities 198,736 186,177 Net deferred tax liabilities $ 167,324 $ 161,607 Net deferred tax assets and liabilities are included in Other assets and Deferred tax liabilities, respectively, on the Consolidated Balance Sheets. The related balances at March 31 were as follows: (Amounts in thousands) 2022 2021 Net non-current deferred tax assets $ 1,111 $ 578 Net non-current deferred tax liabilities 168,435 162,185
Reconciliation of Beginning and Ending Balance of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amounts of unrecognized tax benefits for the years ended March 31 is as follows: (Amounts in thousands) 2022 2021 2020 Balance at beginning of year $ 1,686 $ 3,343 $ 5,681 Tax positions taken in current year — — — Decreases in tax positions for prior years (118) — (1,398) Increases in tax positions for prior years — 105 1,907 Settlements — (284) (124) Lapse of statute of limitations (817) (1,640) (2,589) Foreign translation adjustment (5) 162 (134) Balance at end of year $ 746 $ 1,686 $ 3,343

Net Income Per Share and Stoc_2

Net Income Per Share and Stockholders' Equity (Tables)	12 Months Ended
	Mar. 31, 2022
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 fiscal years ended March 31, 2022, 2021, and 2020, 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: (Amounts in thousands, except per share data) 2022 2021 2020 NET INCOME (LOSS) PER SHARE — BASIC: Net income (loss) attributable to ADS $ 271,331 $ 224,230 $ (193,174) Adjustment for: Dividends paid to participating securities (5,940) (5,591) (11,544) Net income available to common stockholders and participating securities 265,391 218,639 (204,718) Undistributed income allocated to participating securities (35,859) (33,251) — Net income available to common stockholders — Basic 229,532 185,388 (204,718) Weighted average number of common shares outstanding — Basic 71,276 70,155 63,820 Net income (loss) per common share — Basic $ 3.22 $ 2.64 $ (3.21) NET INCOME (LOSS) PER SHARE — DILUTED: Net income (loss) available to common stockholders — Diluted 229,532 185,388 (204,718) Weighted average number of common shares outstanding — Basic 71,276 70,155 63,820 Assumed restricted stock - nonparticipating 245 247 — Assumed exercise of stock options 882 844 — Assumed performance units 508 320 — Weighted average number of common shares outstanding — Diluted 72,911 71,566 63,820 Net income (loss) per common share —Diluted $ 3.15 $ 2.59 $ (3.21) Potentially dilutive securities excluded as anti-dilutive 12,925 14,594 14,449

Other Accrued Liabilities (Tabl

Other Accrued Liabilities (Tables)	12 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Schedule of Other Accrued Liabilities	Other accrued liabilities as of fiscal years ended March 31 consisted of the following: (Amounts in thousands) 2022 2021 Accrued compensation and benefits (a) $ 52,822 $ 42,075 Accrued rebate liability (b) 24,331 16,834 Lease liability - Operating leases 14,203 8,995 Self-insurance accruals 7,048 11,257 Other 36,473 36,990 Total accrued liabilities $ 134,877 $ 116,151 (a) Accrued compensation and benefits is primarily comprised of accrued payroll, bonuses and commissions. (b) Accrued rebate liability represents the Company’s estimated rebates to be paid to customers.

Business Segment Information (T

Business Segment Information (Tables)	12 Months Ended
	Mar. 31, 2022
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 fiscal years ended March 31: 2022 (Amounts in thousands) Net Sales Intersegment Net Sales Net Sales from External Customers Pipe $ 1,555,248 $ (15,814) $ 1,539,434 Infiltrator 551,906 (91,406) 460,500 International International - Pipe 171,525 (19,430) 152,095 International - Allied Products & Other 53,217 — 53,217 Total International 224,742 (19,430) 205,312 Allied Products & Other 569,352 (5,283) 564,069 Intersegment Eliminations (131,933) 131,933 — Total Consolidated $ 2,769,315 $ — $ 2,769,315 2021 (Amounts in thousands) Net Sales Intersegment Net Sales Net Sales from External Customers Pipe $ 1,059,200 $ (6,280) $ 1,052,920 Infiltrator 397,813 (68,669) 329,144 International International - Pipe 121,468 (6,589) 114,879 International - Allied Products & Other 43,390 — 43,390 Total International 164,858 (6,589) 158,269 Allied Products & Other 442,447 — 442,447 Intersegment Eliminations (81,538) 81,538 — Total Consolidated $ 1,982,780 $ — $ 1,982,780 2020 (Amounts in thousands) Net Sales Intersegment Net Sales Net Sales from External Customers Pipe $ 954,633 $ (2,030) $ 952,603 Infiltrator 211,005 (41,657) 169,348 International International - Pipe 108,624 — 108,624 International - Allied Products & Other 39,957 — 39,957 Total International 148,581 — 148,581 Allied Products & Other 403,273 — 403,273 Intersegment Eliminations (43,687) 43,687 — Total Consolidated $ 1,673,805 $ — $ 1,673,805
Schedule of Financial Information Attributable to Reportable Segments	The following sets forth certain financial information attributable to the reportable segments for the fiscal years ended March 31: (Amounts in thousands) 2022 2021 2020 Segment adjusted gross profit Pipe $ 353,182 $ 322,846 $ 239,531 Infiltrator 231,825 191,163 98,245 International 58,822 49,921 36,999 Allied Products & Other 284,091 225,052 201,206 Intersegment Eliminations (28) (503) (1,895) Total $ 927,892 $ 788,479 $ 574,086 Depreciation and amortization Pipe $ 49,601 $ 46,078 $ 46,611 Infiltrator 14,021 12,468 7,159 International 5,464 5,430 6,013 Allied Products & Other (a) 72,722 81,610 65,157 Total $ 141,808 $ 145,586 $ 124,940 Capital expenditures Pipe $ 64,660 $ 17,135 $ 33,629 Infiltrator 72,435 54,024 24,917 International 3,301 1,627 2,623 Allied Products & Other (a) 8,687 5,971 6,508 Total $ 149,083 $ 78,757 $ 67,677 (a) Includes depreciation and amortization and capital expenditures not allocated to a reportable segment. The amortization expense of Infiltrator intangible assets acquired is included in Allied Products & Other.
Reconciliation of Gross Profit to Segment Adjusted Gross Profit	Reconciliation of Gross Profit to Segment Adjusted Gross Profit (Amounts in thousands) 2022 2021 2020 Reconciliation of Segment Adjusted Gross Profit: Total Gross Profit $ 800,384 $ 690,082 $ 316,479 Depreciation and amortization 71,705 66,408 62,225 ESOP and stock-based compensation expense 36,622 31,792 14,319 ESOP acceleration and special dividend compensation 19,181 — 168,610 COVID-19 related expenses (a) — 197 4,573 Inventory step up related to Infiltrator acquisition — — 7,880 Total Segment Adjusted Gross Profit $ 927,892 $ 788,479 $ 574,086 (a) Represents the Company’s pandemic pay expense included in Gross profit in connection with the Company’s response to the COVID-19 pandemic, see “Note 13. Employee Benefit Plans” for additional information.
Net Sales and Long-Lived Asset by Geographic Location	Geographic Sales and Assets Information Net sales are attributed to the geographic location based on the location of the customer. The table below represents the Net sales and long-lived asset information by geographic location for each of the fiscal years ended March 31: (Amounts in thousands) 2022 2021 2020 Net Sales North America $ 2,746,521 $ 1,966,947 $ 1,655,219 Other 22,794 15,833 18,586 Total $ 2,769,315 $ 1,982,780 $ 1,673,805 (Amounts in thousands) 2022 2021 Long-Lived Assets (a) North America $ 628,985 $ 511,290 Other 12,463 11,861 Total $ 641,448 $ 523,151 (a) For segment reporting purposes, long-lived assets include Investments in unconsolidated affiliates, Central parts and Property, plant and equipment.

Supplemental Disclosures of C_2

Supplemental Disclosures of Cash Flow Information (Tables)	12 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Elements [Abstract]
Supplemental Disclosures Cash Flow Information	Supplemental disclosures of cash flow information for the fiscal years ended March 31 were as follows: (Amounts in thousands) 2022 2021 2020 Supplemental disclosures of cash flow information — cash paid during years: Interest $ 32,837 $ 37,614 $ 41,290 Income taxes 106,355 97,636 8,710 (Amounts in thousands) 2022 2021 2020 Supplemental disclosures of noncash investing and financing activities: Redeemable convertible preferred stock dividend $ 294 $ 349 $ 359 Purchases of plant, property, and equipment included in accounts payable 18,328 6,754 1,588 Accrued withholding taxes on vesting of restricted stock units 2,669 — — ESOP distributions in common stock 45,560 28,585 13,109 Lease obligations retired upon disposition of leased assets 589 1,940 799

Background and Summary of Sig_4

Background and Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Mar. 31, 2022USD ($)segmentcustomer	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Number of reportable segments | segment	3
Impairment charges for goodwill	$ 0	$ 0	$ 0
Impairment charges for intangible assets	0	0
Advertising costs	6,000,000	4,100,000	4,900,000
Life, accidental death and dismemberment and medical coverage	45,600,000	42,400,000	50,300,000
Self insurance plan employees contribution	10,700,000	8,500,000	7,900,000
Total claims expense, self insurance	$ 4,100,000	$ 3,000,000	$ 3,000,000
Minimum likelihood percentage of tax benefit to be realized upon settlement	50.00%
Ferguson Enterprises | Accounts Receivable | Customer Concentration Risk
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Concentration risk percentage	16.40%	18.10%
Ferguson Enterprises and Core and Main | Sales Revenue, Net
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Number of customers in the customer base | customer	17,000
Ferguson Enterprises and Core and Main | Sales Revenue, Net | Customer Concentration Risk
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Concentration risk percentage	24.20%	22.80%	24.30%
Other General Insurance Programs
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Claims per occurrence for general liability	$ 500,000
Claims per occurrence for automobile	800,000
Total claims expense, self insurance	3,200,000	$ 1,700,000	$ 2,500,000
Shipping and Handling
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Shipping costs	$ 242,000,000	$ 174,200,000	$ 149,000,000
Minimum
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Capitalized software development costs estimated useful lives	2 years
Central parts estimated useful lives	3 years
Claims per incident	$ 300,000
Maximum
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Capitalized software development costs estimated useful lives	10 years
Central parts estimated useful lives	10 years

Background and Summary of Sig_5

Background and Summary of Significant Accounting Policies - Summary of Receivables (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Receivables, net	$ 341,753	$ 236,191
Trade receivables, net
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Receivables, net	339,585	233,753
Other miscellaneous receivables
Schedule Of Organization And Summary Of Significant Accounting Policies [Line Items]
Receivables, net	$ 2,168	$ 2,438

Background and Summary of Sig_6

Background and Summary of Significant Accounting Policies - Estimated Useful Lives of Related Assets (Detail)	12 Months Ended
	Mar. 31, 2022
Buildings and leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years
Buildings and leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	45 years
Machinery and production equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Machinery and production equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	18 years
Transportation equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Transportation equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	12 years

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Contract Asset and Liability (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Contract asset - product returns	$ 978	$ 694
Refund liability	$ 2,356	$ 1,801

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 03, 2021	Jul. 31, 2019	Mar. 31, 2022	Mar. 31, 2020	Mar. 31, 2021
Business Acquisition [Line Items]
Goodwill			$ 610,293	$ 597,819	$ 599,072
Jet
Business Acquisition [Line Items]
Total fair value of consideration transferred	$ 49,500
Goodwill	12,597		11,134
Transaction costs related to Acquisition			2,600
Intangible assets	$ 11,500		$ 13,200
Infiltrator
Business Acquisition [Line Items]
Total fair value of consideration transferred		$ 1,147,200
Net sales to external customers of acquired entity included in consolidated statements of operations				169,300
Earnings from operations of acquired entity included in consolidated statements of operations				$ 8,200

Acquisitions - Summary of Consi

Acquisitions - Summary of Consideration Transferred and Preliminary Purchase Price Allocation of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	4 Months Ended
	Mar. 31, 2022	Dec. 03, 2021	Mar. 31, 2021	Mar. 31, 2020
Business Acquisition [Line Items]
Goodwill	$ 610,293		$ 599,072	$ 597,819
Jet
Business Acquisition [Line Items]
Cash	160	$ 160
Total current assets, excluding cash	12,993	12,993
Property, plant and equipment	23,007	22,495
Property, plant and equipment, adjustments	512
Goodwill	11,134	12,597
Goodwill, increase to purchase price	99
Goodwill, adjustments to property, plant and equipment and intangible assets	(2,212)
Goodwill, tax adjustments	650
Intangible assets	13,200	11,500
Intangible assets, adjustments	1,700
Other assets	158	158
Total current liabilities	(5,750)	(5,750)
Deferred tax liabilities	(3,649)	(2,999)
Deferred tax liabilities, adjustments	(650)
Other liabilities	(1,784)	(1,784)
Total fair value of consideration transferred	49,469	$ 49,370
Total fair value of consideration transferred, increase to purchase price	$ 99

Acquisitions - Summary of Ident

Acquisitions - Summary of Identifiable Intangible Assets (Detail) - Jet $ in Thousands	Mar. 31, 2022USD ($)
Business Acquisition [Line Items]
Total identifiable intangible assets	$ 13,200
Supplier and customer relationships
Business Acquisition [Line Items]
Total identifiable intangible assets	11,300
Other
Business Acquisition [Line Items]
Total identifiable intangible assets	$ 1,900

Acquisitions - Summary of Unaud

Acquisitions - Summary of Unaudited Pro Forma Information (Detail) - Infiltrator $ in Thousands	12 Months Ended
	Mar. 31, 2020USD ($)
Business Acquisition Pro Forma Information Nonrecurring Adjustment [Line Items]
Net sales	$ 1,760,208
Net income (loss) attributable to ADS	$ (145,244)

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Property, Plant and Equipment [Line Items]
Total cost	$ 1,243,368	$ 1,192,394
Less: accumulated depreciation	(623,985)	(688,119)
Property, plant and equipment, net	619,383	504,275
Land, buildings and improvements
Property, Plant and Equipment [Line Items]
Total cost	308,942	263,191
Machinery and production equipment
Property, Plant and Equipment [Line Items]
Total cost	756,482	646,592
Transportation equipment
Property, Plant and Equipment [Line Items]
Total cost	97,016	210,738
Construction in progress
Property, Plant and Equipment [Line Items]
Total cost	$ 80,928	$ 71,873

Property, Plant and Equipment_2

Property, Plant and Equipment - Depreciation Expense Related to Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense (inclusive of leased assets depreciation)	$ 73,514	$ 68,034	$ 64,642

Leases - Additional Information

Leases - Additional Information (Detail)	12 Months Ended
	Mar. 31, 2022
Minimum
Lessee Lease Description [Line Items]
Remaining lease term	1 year
Maximum
Lessee Lease Description [Line Items]
Remaining lease term	30 years
Maximum | Real Estate Leases
Lessee Lease Description [Line Items]
Lease renewal term	5 years

Leases - Schedule of Components

Leases - Schedule of Components of Lease Cost (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Operating lease cost
Total operating lease cost	$ 18,811	$ 13,947	$ 9,145
Finance lease cost
Total finance lease cost	16,078	20,311	23,946
Cost of goods sold
Operating lease cost
Operating lease cost	12,663	8,391	5,548
Short-term lease cost	4,813	3,963	2,393
Finance lease cost
Amortization of right-of-use assets	12,986	16,442	17,059
Selling, general and administrative
Operating lease cost
Operating lease cost	1,335	1,593	1,204
Finance lease cost
Amortization of right-of-use assets	1,413	1,433	2,543
Interest expense
Finance lease cost
Interest on lease liabilities	$ 1,679	$ 2,436	$ 4,344

Leases - Schedule of Supplement

Leases - Schedule of Supplemental Cash Flow Information Related to Leases (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$ 13,998	$ 9,984	$ 6,572
Operating cash flows used for finance leases	1,932	3,205	4,675
Financing cash flows used for finance leases	50,447	21,491	27,119
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	38,093	15,173	10,529
Finance leases	$ 17,695	$ 9,907	$ 5,078

Leases - Schedule of Suppleme_2

Leases - Schedule of Supplemental Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Operating leases
Right-of-use assets	$ 54,583	$ 31,237
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets	Other assets
Current lease liabilities	$ 14,203	$ 8,995
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other accrued liabilities	Other accrued liabilities
Non-current lease liabilities	$ 41,032	$ 22,393
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities	Other liabilities
Total operating lease liabilities	$ 55,235	$ 31,388
Finance leases
Right-of-use assets	$ 15,420	$ 80,904
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, plant and equipment, net	Property, plant and equipment, net
Current lease liabilities	$ 5,089	$ 19,318
Non-current lease liabilities	11,393	32,964
Total finance lease liabilities	$ 16,482	$ 52,282
Weighted average lease term (in years):
Operating leases	6 years	6 years 5 months 15 days
Finance leases	4 years 2 months 23 days	9 years 4 months 20 days
Weighted average discount rate:
Operating leases	3.54%	3.75%
Finance leases	3.52%	4.90%

Leases - Schedule of Future Min

Leases - Schedule of Future Minimum Lease Payments on Rolling Twelve-month Basis under Operating and Finance Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Operating Leases
Year 1	$ 15,448
Year 2	12,523
Year 3	10,476
Year 4	7,577
Year 5	4,095
Thereafter	11,702
Total minimum lease payments	61,821
Less: amount representing interest	6,586
Present value of net minimum lease payments	55,235	$ 31,388
Finance Leases
Year 1	5,217
Year 2	4,379
Year 3	2,940
Year 4	1,889
Year 5	1,511
Thereafter	1,364
Total minimum lease payments	17,300
Less: amount representing interest	818
Present value of net minimum lease payments	$ 16,482	$ 52,282

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 156,050	$ 75,294
Finished goods	338,274	225,667
Inventories	$ 494,324	$ 300,961

Inventories - Additional Inform

Inventories - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2022	Mar. 31, 2021
Inventory Disclosure [Abstract]
General and administrative cost in inventory	$ 57.1	$ 40.1
General and administrative cost remaining in inventory	$ 12.1	$ 7.9

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Carrying Amount of Goodwill by Reportable Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Goodwill [Roll Forward]
Beginning balance	$ 599,072	$ 597,819
Currency translation	87	1,253
Acquisition	11,134
Ending balance	610,293	599,072
Pipe
Goodwill [Roll Forward]
Beginning balance	57,663	57,663
Currency translation	0	0
Acquisition	11,134
Ending balance	68,797	57,663
Infiltrator
Goodwill [Roll Forward]
Beginning balance	495,841	495,841
Currency translation	0	0
Acquisition	0
Ending balance	495,841	495,841
International
Goodwill [Roll Forward]
Beginning balance	11,126	9,873
Currency translation	87	1,253
Acquisition	0
Ending balance	11,213	11,126
Allied Products & Other
Goodwill [Roll Forward]
Beginning balance	34,442	34,442
Currency translation	0	0
Acquisition	0
Ending balance	$ 34,442	$ 34,442

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Finite And Indefinite Lived Intangible Assets [Line Items]
Gross Intangible	$ 640,747	$ 634,184
Accumulated Amortization	(221,226)	(164,034)
Net Intangible	419,521	470,150
Total Intangible assets, gross	652,611	646,050
Total Intangible assets	431,385	482,016
Trademarks
Finite And Indefinite Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets	11,864	11,866
Developed technology
Finite And Indefinite Lived Intangible Assets [Line Items]
Gross Intangible	176,068	177,579
Accumulated Amortization	(64,751)	(49,842)
Net Intangible	111,317	127,737
Supplier and customer relationships
Finite And Indefinite Lived Intangible Assets [Line Items]
Gross Intangible	389,125	377,742
Accumulated Amortization	(140,830)	(97,115)
Net Intangible	248,295	280,627
Patents and non-compete agreements
Finite And Indefinite Lived Intangible Assets [Line Items]
Gross Intangible	9,594	8,985
Accumulated Amortization	(6,837)	(6,884)
Net Intangible	2,757	2,101
Trademarks
Finite And Indefinite Lived Intangible Assets [Line Items]
Gross Intangible	65,960	69,878
Accumulated Amortization	(8,808)	(10,193)
Net Intangible	$ 57,152	$ 59,685

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Amortization Expense and Weighted Average Amortization Period for Definite-Lived Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 63,974	$ 73,708	$ 57,010
Developed technology
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 16,420	$ 17,405	$ 12,517
Weighted average amortization period	6 years 3 months 18 days	6 years 3 months 18 days	6 years 3 months 18 days
Supplier and customer relationships
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 43,542	$ 50,177	$ 36,093
Weighted average amortization period	12 years 7 months 6 days	12 years 7 months 6 days	12 years 7 months 6 days
Patents and non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 679	$ 699	$ 544
Weighted average amortization period	3 years 4 months 24 days	3 years 4 months 24 days	3 years 4 months 24 days
Trademarks and tradenames
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 3,333	$ 5,427	$ 7,856
Weighted average amortization period	17 years 1 month 6 days	17 years 1 month 6 days	17 years 1 month 6 days

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Future Intangible Asset Amortization Expense (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 53,214
2024	49,087
2025	45,863
2026	41,874
2027	38,507
Thereafter	190,976
Net Intangible	$ 419,521	$ 470,150

Fair Value Measurement and De_3

Fair Value Measurement and Derivative Transactions - Summary of Assets and Liabilities Carried at Fair Value (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Assets:
Total assets at fair value on a recurring basis	$ 2,618	$ 1,194
Liabilities:
Total liabilities at fair value on a recurring basis	64	32
Level 2
Assets:
Total assets at fair value on a recurring basis	2,618	1,194
Liabilities:
Total liabilities at fair value on a recurring basis	64	32
Diesel Fuel Contracts
Assets:
Derivative assets — diesel fuel contracts	2,618	1,194
Liabilities:
Derivative liability - diesel fuel contracts	64	32
Diesel Fuel Contracts | Level 2
Assets:
Derivative assets — diesel fuel contracts	2,618	1,194
Liabilities:
Derivative liability - diesel fuel contracts	$ 64	$ 32

Fair Value Measurement and De_4

Fair Value Measurement and Derivative Transactions - Derivative Fair Values (Detail) - Diesel fuel option collars and swaps - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Receivables
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	$ 2,499	$ 1,125
Other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	119	69
Other accrued liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	(64)	(31)
Other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	$ 0	$ (1)

Fair Value Measurement and De_5

Fair Value Measurement and Derivative Transactions - Schedule of Cash Settlements and Net (Gains) and Net Losses on Mark-to-Market Adjustments for Changes in Fair Value of Derivative Contracts (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total net unrealized mark to market losses (gains)	$ (1,392)	$ (3,355)	$ 3,128
Total net realized losses (gains)	(3,012)	1,456	837
Interest rate swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total net unrealized mark to market losses (gains)	0	0	1,029
Total net realized losses (gains)	0	0	378
Diesel fuel option collars and swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total net unrealized mark to market losses (gains)	(1,392)	(3,355)	2,099
Total net realized losses (gains)	(3,012)	1,409	357
Foreign exchange forward contracts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total net realized losses (gains)	$ 0	$ 47	$ 102

Fair Value Measurement and De_6

Fair Value Measurement and Derivative Transactions - Summary of Carrying And Fair Value of Senior Notes (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 379,204	$ 367,633
Fair Value | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	349,902	367,633
Fair Value | Equipment Financing
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	29,302	0
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	381,254	350,000
Carrying Value | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	350,000	350,000
Carrying Value | Equipment Financing
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt, fair value	$ 31,254	$ 0

Investment In Affiliates - Addi

Investment In Affiliates - Additional Information (Detail)	Mar. 31, 2022consolidatedJointVenture
South American Joint Venture
Investments in and Advances to Affiliates [Line Items]
Percentage of ownership in unconsolidated joint ventures	50.00%
ADS Mexicana
Investments in and Advances to Affiliates [Line Items]
Number of consolidated joint ventures	1
ADS Mexicana | Consolidated Entity Excluding Variable Interest Entities (VIE)
Investments in and Advances to Affiliates [Line Items]
Company's ownership percentage	51.00%

Investment In Affiliates - Asse

Investment In Affiliates - Assets and Liabilities of Joint Ventures (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Assets
Current assets	$ 871,898	$ 742,978
Property, plant and equipment, net	619,383	504,275
Other noncurrent assets	116,799	85,491
Total assets	2,649,758	2,413,832
Liabilities
Current liabilities	391,241	318,270
Total liabilities	1,544,713	1,350,406
ADS Mexicana
Assets
Current assets	28,005	21,556
Property, plant and equipment, net	14,061	13,891
Other noncurrent assets	1,933	1,425
Total assets	43,999	36,872
Liabilities
Current liabilities	11,150	9,186
Noncurrent liabilities	1,575	1,462
Total liabilities	$ 12,725	$ 10,648

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - USD ($)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2019
South American Joint Venture
Related Party Transaction [Line Items]
Maximum borrowings permitted under credit facility	$ 22,000,000
Percentage of debt guarantee	50.00%
Maximum potential payment under guarantee	$ 11,000,000
Outstanding principal balance including letters of credit	9,900,000	$ 10,000,000
South American Joint Venture | US Dollar Denominated Loans
Related Party Transaction [Line Items]
Outstanding principal balance including letters of credit	$ 0
South American Joint Venture | Chilean Peso Denominated Loans
Related Party Transaction [Line Items]
Weighted average interest rate	4.30%
Consolidated Entity Excluding Variable Interest Entities (VIE)
Related Party Transaction [Line Items]
Maximum borrowings permitted under credit facility			$ 12,000,000
Outstanding principal balance including letters of credit	$ 1,500,000	$ 0
Consolidated Entity Excluding Variable Interest Entities (VIE) | ADS Mexicana
Related Party Transaction [Line Items]
Noncontrolling interest, ownership percentage by noncontrolling owners			49.00%

Debt - Long-Term Debt (Detail)

Debt - Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Debt Instrument [Line Items]
Total	$ 929,804	$ 791,250
Unamortized debt issuance costs	(1,648)	(2,030)
Current maturities	(19,451)	(7,000)
Long-term debt obligations	908,705	782,220
Revolving Credit Facility
Debt Instrument [Line Items]
Total	114,300	0
Term Loan Facility
Debt Instrument [Line Items]
Total	434,250	441,250
Senior Notes
Debt Instrument [Line Items]
Total	350,000	350,000
Equipment financing
Debt Instrument [Line Items]
Total	31,254	$ 0
Current maturities	(12,500)
Long-term debt obligations	$ 18,800

Debt - Additional Information (

Debt - Additional Information (Detail) - USD ($) $ in Thousands	Sep. 24, 2019	Sep. 23, 2019	Mar. 31, 2022	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Debt Instrument [Line Items]
Payments on Term Loan Facility				$ 0	$ 0	$ 1,300,000
Current maturities of debt obligations			$ 19,451	19,451	7,000
Long-term debt, excluding current maturities			908,705	908,705	$ 782,220
Bridge Credit Facility
Debt Instrument [Line Items]
Outstanding principal balance including letters of credit	$ 700,000
Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowings permitted under credit facility	$ 350,000
Outstanding letters of credit			$ 9,200	$ 9,200
Debt instrument term	5 years
Commitment fee on undrawn portion, percentage				0.20%
Letter of Credit Facility
Debt Instrument [Line Items]
Maximum borrowings permitted under credit facility	$ 50,000
Sublimit of Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowings permitted under credit facility	50,000
Senior Secured Credit Facility
Debt Instrument [Line Items]
Deferred financing fees capitalized	400
Term Loan Facility
Debt Instrument [Line Items]
Aggregate principal amount	$ 700,000
Debt instrument term	7 years
Equipment financing
Debt Instrument [Line Items]
Weighted average interest rate			1.40%	1.40%
Current maturities of debt obligations			$ 12,500	$ 12,500
Long-term debt, excluding current maturities			$ 18,800	$ 18,800
Equipment financing | Minimum
Debt Instrument [Line Items]
Debt instrument term			12 months
Equipment financing | Maximum
Debt Instrument [Line Items]
Debt instrument term			84 months
5.0% Senior Notes due 2027
Debt Instrument [Line Items]
Aggregate principal amount		$ 350,000
Debt instrument, interest rate		5.00%
Deferred financing fees capitalized		$ 2,100
5.0% Senior Notes due 2027 | Prior to September 30, 2022
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 | Maximum | Prior to September 30, 2022
Debt Instrument [Line Items]
Debt instrument, redemption price, percentage				40.00%
5.0% Senior Notes due 2027 | Bridge Loan Facility
Debt Instrument [Line Items]
Payments on Term Loan Facility		$ 300,000

Debt - Maturities of Long-term

Debt - Maturities of Long-term Debt (Excluding Interest and Deferred Financing Costs) (Detail) $ in Thousands	Mar. 31, 2022USD ($)
Debt Disclosure [Abstract]
2023	$ 19,451
2024	14,770
2025	126,254
2026	10,015
2027	407,442
Thereafter	351,872
Total	$ 929,804

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - Inventory	12 Months Ended
	Mar. 31, 2022USD ($)
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Total purchase commitment	$ 0
Minimum
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Purchase commitment contract period	1 month
Maximum
Purchase Commitment, Excluding Long-term Commitment [Line Items]
Purchase commitment contract period	12 months

Employee Benefit Plans - Additi

Employee Benefit Plans - Additional Information (Detail)	1 Months Ended	12 Months Ended
	Feb. 28, 2022USD ($)shares	Mar. 31, 2022USD ($)age$ / sharesshares	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Apr. 30, 2022shares
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
ESOP acceleration (in shares) | shares		338,000
ESOP compensation expense		$ 53,401,000	$ 44,981,000	$ 20,126,000
Defined contribution postretirement benefit plan, costs recognized		1,500,000	600,000	500,000
Pandemic pay costs in other accrued liabilities			4,800,000
Covid-19 pay, recognized		0
Profit-Sharing Retirement Plan
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Contribution to the profit sharing retirement plan		0	0	0
Executive Retirement Expense | Other liabilities
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Executive termination payment obligation		1,400,000	2,500,000
Selling, general and administrative expenses | Executive Retirement Expense
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Compensation expense (benefit)		$ 100,000	$ 0	$ 200,000
Redeemable Convertible Preferred Stock
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Convertible preferred stock, converted to common stock (in shares) | shares		0.7692
Preferred stock, redemption value (in dollars per share) | $ / shares		$ 0.7818
Preferred stock, unpaid cumulative dividends		$ 0
Preferred stock, dividend rate percentage		2.50%
Redeemable convertible preferred stock liquidation (in dollars per share) | $ / shares		$ 0.7818
Employee Stock Ownership Plan (ESOP)
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
ESOP eligibility age | age		18
Service period for plan eligibility		6 months
Diversification eligibility age | age		50
Diversification eligibility, participation period		7 years
ESOP acceleration (in shares) | shares	300,000
ESOP compensation expense	$ 30,400,000
Employee Stock Ownership Plan (ESOP) | Subsequent Event
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Convertible preferred stock, converted to common stock (in shares) | shares					0.7692
ADS | Employee Stock Ownership Plan (ESOP)
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Debt instrument term		30 years

Employee Benefit Plans - ESOP C

Employee Benefit Plans - ESOP Compensation Expense (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Postemployment Benefits [Abstract]
Fair value of shares allocated (in dollars per share)	$ 91.41	$ 79.56	$ 22.70
Average annual fair value per share (in dollars per share)	$ 85.49	$ 51.13	$ 21.31
ESOP compensation expense	$ 53,401	$ 44,981	$ 20,126

Employee Benefit Plans - Summar

Employee Benefit Plans - Summarized Cash and Stock Dividends on Allocated Redeemable Convertible Preferred Stock (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Annual stock dividend	$ 294	$ 349	$ 359
Cash dividend declared (in dollars per share)			$ 0.09
Redeemable Convertible Preferred Stock
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Total cash dividends	5,646	5,242
Total ESOP required dividends	$ 295	$ 353
Allocated shares (in shares)	15,133	18,124
Cash dividend declared (in dollars per share)	$ 0.0195	$ 0.0195
Quarterly cash dividends | Redeemable Convertible Preferred Stock
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Total cash dividends	$ 5,645	$ 5,238
Annual cash dividends | Redeemable Convertible Preferred Stock
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Total cash dividends	1	4
Annual cash dividend	1	4
Annual stock dividend | Redeemable Convertible Preferred Stock
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Annual stock dividend	$ 294	$ 349

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 24,158	$ 20,453	$ 12,269
Non-employee director restricted stock
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	1,801	1,351	1,226
Stock options
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	3,204	2,908	2,554
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	5,846	5,177	3,807
Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	13,307	11,017	4,682
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	2,680	1,931	897
Selling, general and administrative expenses
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Total stock-based compensation expense	$ 21,478	$ 18,522	$ 11,372

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Assumption Used in Estimate Fair Value of Stock Options (Details) - $ / shares	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Common stock price (in dollars per share)	$ 105.82
Expected stock price volatility	41.00%
Expected stock price volatility, minimum		35.50%	30.10%
Expected stock price volatility, maximum		36.30%	30.90%
Risk-free interest rate	1.10%
Risk-free interest rate, minimum		0.40%	1.40%
Risk-free interest rate, maximum		0.60%	2.30%
Weighted-average expected life (years)	6 years	6 years	6 years
Dividend yield	0.30%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Common stock price (in dollars per share)		$ 41.97	$ 27.44
Dividend yield		0.50%	0.90%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Common stock price (in dollars per share)		$ 71.55	$ 41.85
Dividend yield		0.90%	1.30%

Stock-Based Compensation - 2017

Stock-Based Compensation - 2017 Omnibus Plan (Details) - 2017 Omnibus Plan - USD ($) shares in Thousands, $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020	May 19, 2021	May 18, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock based awards, shares available for grant (in shares)	2,600
Stock-based awards, unrecognized compensation expense	$ 4.2
Unrecognized compensation cost, weighted average service period for recognition	1 year 9 months 18 days
Aggregate intrinsic value of options outstanding	$ 76.8
Aggregate intrinsic value of options exercisable	53.8
Intrinsic value of options exercised	$ 6.8	$ 4	$ 0.1
Performance awards performance period	3 years
Restricted stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost, weighted average service period for recognition	1 year 8 months 12 days
Unrecognized compensation expense	$ 7.3
Intrinsic value of options vested	$ 7	$ 3.6	$ 2.3
Granted (in shares)	74
Performance-based restricted stock units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost, weighted average service period for recognition	1 year 6 months
Unrecognized compensation expense	$ 8.7
Granted (in shares)	65
Performance-based restricted stock units | Infiltrator Water Technologies
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)			100
Performance Shares, Based On Return On Invested Capital
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance award percentage	50.00%	50.00%	50.00%
Performance Shares, Based On Free Cash Flow Or Cash Flow From Operations
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance award percentage	50.00%	50.00%	50.00%
Performance Shares, Based On Free Cash Flow Or Cash Flow From Operations | Infiltrator Water Technologies
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance award percentage			25.00%
Predetermined Synergies Performance Shares | Infiltrator Water Technologies
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Granted (in shares)			100
Performance Shares, Based On Adjusted EBITDA | Infiltrator Water Technologies
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Performance award percentage			75.00%
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock approved for issuance (in shares)				5,000	3,500

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Stock Option Activity (Details) - $ / shares shares in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
2017 Omnibus Plan
Number of Shares
Outstanding at beginning of year (in shares)	939
Granted (in shares)	101
Exercised (in shares)	(80)
Forfeited (in shares)	(16)
Outstanding at end of year (in shares)	944	939
Vested at end of year (in shares)	582
Unvested at end of year (in shares)	362
Fair value of options granted during the year (in shares)
Weighted Average Exercise Price
Outstanding at beginning of year (in dollars per share)	$ 29.69
Granted (in dollars per share)	105.82
Exercised (in dollars per share)	30.08
Forfeited (in dollars per share)	49.11
Outstanding at end of year (in dollars per share)	37.48	$ 29.69
Vested at end of year (in dollars per share)	26.26
Unvested at end of year (in dollars per share)	55.50
Fair value of options granted during the year (in dollars per share)	$ 41.36
Weighted Average Remaining Contractual Term (in years)
Weighted average remaining contractual term (in years)	7 years 1 month 6 days	7 years 10 months 24 days
Weighted average remaining contractual term (in years), vested at end of year	6 years 4 months 24 days
Weighted average remaining contractual term (in years), unvested at end of year	8 years 1 month 6 days
2000 Stock Option Plan
Number of Shares
Outstanding at beginning of year (in shares)	37
Granted (in shares)	0
Exercised (in shares)	(24)
Forfeited (in shares)	0
Outstanding at end of year (in shares)	13	37
Vested at end of year (in shares)	13
Unvested at end of year (in shares)	0
Weighted Average Exercise Price
Outstanding at beginning of year (in dollars per share)	$ 14.97
Granted (in dollars per share)	0
Exercised (in dollars per share)	14.96
Forfeited (in dollars per share)	0
Outstanding at end of year (in dollars per share)	15	$ 14.97
Vested at end of year (in dollars per share)	15
Unvested at end of year (in dollars per share)	$ 0
Weighted Average Remaining Contractual Term (in years)
Weighted average remaining contractual term (in years)	1 year 8 months 12 days	2 years 7 months 6 days
Weighted average remaining contractual term (in years), vested at end of year	1 year 8 months 12 days
2013 Stock Option Plan
Number of Shares
Outstanding at beginning of year (in shares)	316
Granted (in shares)	0
Exercised (in shares)	(102)
Forfeited (in shares)	0
Outstanding at end of year (in shares)	214	316
Vested at end of year (in shares)	214
Unvested at end of year (in shares)	0
Weighted Average Exercise Price
Outstanding at beginning of year (in dollars per share)	$ 19.48
Granted (in dollars per share)	0
Exercised (in dollars per share)	16.88
Forfeited (in dollars per share)	0
Outstanding at end of year (in dollars per share)	20.72	$ 19.48
Vested at end of year (in dollars per share)	20.72
Unvested at end of year (in dollars per share)	$ 0
Weighted Average Remaining Contractual Term (in years)
Weighted average remaining contractual term (in years)	3 years	3 years 8 months 12 days
Weighted average remaining contractual term (in years), vested at end of year	3 years

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Unvested Restricted Stock Grants (Details) - 2017 Omnibus Plan - Restricted stock shares in Thousands	12 Months Ended
	Mar. 31, 2022$ / sharesshares
Number of Shares
Unvested at beginning of year (in shares) | shares	382
Granted (in shares) | shares	74
Vested (in shares) | shares	(202)
Forfeited (in shares) | shares	(9)
Unvested at ending of year (in shares) | shares	245
Weighted Average Grant Date Fair Value
Unvested at beginning of year (in dollars per share) | $ / shares	$ 36.03
Granted (in dollars per share) | $ / shares	110.96
Vested (in dollars per share) | $ / shares	34.82
Forfeited (in dollars per share) | $ / shares	60.51
Unvested at end of year (in dollars per share) | $ / shares	$ 58.68

Stock-Based Compensation - Su_4

Stock-Based Compensation - Summary of Performance Units Granted (Details) - Performance-based restricted stock units - 2017 Omnibus Plan shares in Thousands	12 Months Ended
	Mar. 31, 2022$ / sharesshares
Number of Shares
Unvested at beginning of year (in shares) | shares	485
Granted (in shares) | shares	65
Added by Performance Factor (in shares) | shares	115
Vested (in shares) | shares	(245)
Forfeited (in shares) | shares	(16)
Unvested at ending of year (in shares) | shares	404
Weighted Average Grant Date Fair Value
Unvested at beginning of year (in dollars per share) | $ / shares	$ 35.21
Granted (in dollars per share) | $ / shares	105.82
Added by Performance Factor (in dollars per share) | $ / shares	25.85
Vested (in dollars per share) | $ / shares	25.85
Forfeited (in dollars per share) | $ / shares	43.79
Unvested at end of year (in dollars per share) | $ / shares	$ 46.34

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Options (Details) $ in Millions	12 Months Ended
	Mar. 31, 2022USD ($)iNSTALLMENTshares	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)
2000 Stock Option Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate intrinsic value of options outstanding	$ 1.4
Aggregate intrinsic value of options exercisable	1.4
Intrinsic value of options exercised	$ 2.4	$ 2.1	$ 0.2
2013 Stock Option Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock based awards, shares available for grant (in shares) | shares	0
Liability-Classified Stock Options | 2013 Stock Option Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Aggregate intrinsic value of options outstanding	$ 21
Aggregate intrinsic value of options exercisable	21
Intrinsic value of options exercised	10.8
Intrinsic value of options vested	$ 0.1	$ 0.1	$ 0.8
Management | 2013 Stock Option Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock awards, expiration period	10 years
Management | 2013 Stock Option Plan | Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock awards, number of annual installments for vesting | iNSTALLMENT	3
Management | 2013 Stock Option Plan | Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock awards, number of annual installments for vesting | iNSTALLMENT	5
Management | Liability-Classified Stock Options | 2000 Stock Option Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock awards, number of annual installments for vesting | iNSTALLMENT	3
Stock awards, expiration period	10 years
Stock based awards, shares available for grant (in shares) | shares	0

Stock-Based Compensation - 2008

Stock-Based Compensation - 2008 Restricted Stock Plan (Details) - Two Thousand Eight Restricted Stock Plan - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock based awards, shares available for grant (in shares)	0
Intrinsic value of options vested (less than)	$ 0.1	$ 0.2	$ 0.9

Income Taxes - Components of In

Income Taxes - Components of Income before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
United States	$ 355,763	$ 291,296	$ (186,209)
Foreign	27,748	20,975	6,595
Income (loss) before income taxes	$ 383,511	$ 312,271	$ (179,614)

Income Taxes - Components of _2

Income Taxes - Components of Income Tax Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Current:
Federal	$ 76,220	$ 76,986	$ 10,867
State and local	23,484	17,189	4,655
Foreign	8,143	5,921	1,546
Total current tax expense	107,847	100,096	17,068
Deferred:
Federal	6,629	(12,250)	210
State and local	(3,159)	(1,269)	(1,228)
Foreign	(1,246)	(195)	(1,958)
Total deferred tax expense (benefit)	2,224	(13,714)	(2,976)
Total Income tax expense	$ 110,071	$ 86,382	$ 14,092

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Effective Tax Rate and Statutory Federal Income Tax Rate (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2019	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Income Taxes [Line Items]
Federal statutory rate		21.00%	21.00%	21.00%
ESOP stock appreciation, ESOP dividends and special dividend		4.30%	2.70%	(30.30%)
Effect of tax rate of foreign subsidiaries		0.40%	0.50%	0.60%
State and local taxes—net of federal income tax benefit		4.20%	3.90%	(1.70%)
Uncertain tax position change		(0.20%)	(0.50%)	1.20%
Equity-based compensation		(2.90%)	(1.40%)	1.10%
Executive compensation		2.60%	1.50%	(0.80%)
Net operating losses		0.00%	0.20%	1.90%
Other		(0.70%)	(0.20%)	(0.90%)
Effective rate		28.70%	27.70%	(7.90%)
Total stock-based compensation expense		$ 24,158	$ 20,453	$ 12,269
Employee Stock Ownership Plan (ESOP)
Income Taxes [Line Items]
Non-deductible stock appreciation and deductible dividends	$ 242,900
Decrease in effective tax rate	28.40%
Special Dividend | Employee Stock Ownership Plan (ESOP)
Income Taxes [Line Items]
Total stock-based compensation expense	$ 246,800

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Income Taxes [Line Items]
Deferred tax liabilities	$ 168,435,000	$ 162,185,000
Undistributed earnings on foreign subsidiaries	22,200,000
Unrecognized tax benefit that would decrease income tax expense	746,000	1,686,000	$ 3,343,000	$ 5,681,000
Decrease in unrecognized tax benefit related to income tax expense	700,000
Accrued interest and penalties related to unrecognized tax benefits	200,000	$ 500,000
Increase in unrecognized tax benefits is reasonably possible (up to)	100,000
Other accrued liabilities
Income Taxes [Line Items]
Short-term portion of unrecognized tax benefit	100,000
Canada
Income Taxes [Line Items]
Deferred tax liabilities	$ 0

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Deferred Tax Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Deferred tax assets:
Stock-based compensation	$ 5,736	$ 5,084
Operating lease liabilities	13,702	7,403
Other	12,243	12,488
Total deferred tax assets	31,681	24,975
Less: valuation allowance	(269)	(405)
Total net deferred tax assets	31,412	24,570
Deferred tax liabilities:
Intangible assets	94,834	106,012
Property, plant and equipment	82,193	66,546
Operating lease assets	13,540	7,365
Goodwill	6,824	5,686
Other	1,345	568
Total deferred tax liabilities	198,736	186,177
Net deferred tax liabilities	$ 167,324	$ 161,607

Income Taxes - Net Deferred Tax

Income Taxes - Net Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Income Taxes [Line Items]
Net non-current deferred tax liabilities	$ 168,435	$ 162,185
Other Assets
Income Taxes [Line Items]
Net non-current deferred tax assets	$ 1,111	$ 578

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 1,686	$ 3,343	$ 5,681
Tax positions taken in current year	0	0	0
Decreases in tax positions for prior years	(118)	0	(1,398)
Increases in tax positions for prior years	0	105	1,907
Settlements	0	(284)	(124)
Lapse of statute of limitations	(817)	(1,640)	(2,589)
Decrease in foreign translation adjustment	(5)		(134)
Increase in foreign translation adjustment		162
Balance at end of year	$ 746	$ 1,686	$ 3,343

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	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
NET INCOME (LOSS) PER SHARE — BASIC:
Net income (loss) attributable to ADS	$ 271,331	$ 224,230	$ (193,174)
Adjustment for:
Dividends paid to participating securities	(5,940)	(5,591)	(11,544)
Net income available to common stockholders and participating securities	265,391	218,639	(204,718)
Undistributed income allocated to participating securities	(35,859)	(33,251)	0
Net income available to common stockholders — Basic	$ 229,532	$ 185,388	$ (204,718)
Weighted average number of common shares outstanding — Basic (in shares)	71,276	70,155	63,820
Net income (loss) per common share — Basic (in dollars per share)	$ 3.22	$ 2.64	$ (3.21)
NET INCOME (LOSS) PER SHARE — DILUTED:
Net income (loss) available to common stockholders — Diluted	$ 229,532	$ 185,388	$ (204,718)
Weighted average number of common shares outstanding — Basic (in shares)	71,276	70,155	63,820
Weighted average number of common shares outstanding — Diluted (in shares)	72,911	71,566	63,820
Net income (loss) per common share —Diluted (in dollars per share)	$ 3.15	$ 2.59	$ (3.21)
Potentially dilutive securities excluded as anti-dilutive (in shares)	12,925	14,594	14,449
Assumed restricted stock - nonparticipating
NET INCOME (LOSS) PER SHARE — DILUTED:
Dilutive securities (in shares)	245	247	0
Assumed exercise of stock options
NET INCOME (LOSS) PER SHARE — DILUTED:
Dilutive securities (in shares)	882	844	0
Assumed performance units
NET INCOME (LOSS) PER SHARE — DILUTED:
Dilutive securities (in shares)	508	320	0

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	Jun. 14, 2019	May 31, 2021	Jun. 30, 2019	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020	Feb. 28, 2022	Apr. 30, 2021
Equity Class Of Treasury Stock [Line Items]
Common stock, par value (in dollars per share)					$ 0.01	$ 0.01
Proceeds from common stock offering, net of offering costs					$ 0	$ 0	$ 293,648
Share repurchases (in shares)					2,600,000	0
Share repurchases					$ 292,000
Additional amount authorized			$ 250,000
Stock repurchase program amount authorized								$ 1,000,000	$ 42,000
Cash dividend declared (in dollars per share)							$ 0.09
Dividend payment		$ 81,600
Total stock-based compensation expense					$ 24,158	$ 20,453	$ 12,269
Cost of Goods Sold - ESOP special dividend compensation and Selling, General and Administrative Expenses
Equity Class Of Treasury Stock [Line Items]
Total stock-based compensation expense							$ 246,800
Employee Stock Ownership Plan (ESOP)
Equity Class Of Treasury Stock [Line Items]
Amount of dividend from unallocated redeemable convertible preferred stock held in the ESOP trust to repay ESOP loan		$ 12,000
Number of redeemable convertible preferred stock allocated to ESOP participants (in shares)		11,600,000
Special Dividend
Equity Class Of Treasury Stock [Line Items]
Cash dividend declared (in dollars per share)							$ 1
Special Dividend | Employee Stock Ownership Plan (ESOP)
Equity Class Of Treasury Stock [Line Items]
Total stock-based compensation expense				$ 246,800
Common Stock
Equity Class Of Treasury Stock [Line Items]
Common stock offering (in shares)	10,350,000						10,350,000
Common stock, par value (in dollars per share)	$ 0.01
Shares price per share (in dollars per share)	$ 29.75
Proceeds from common stock offering, net of offering costs	$ 293,600
Common Stock in Treasury
Equity Class Of Treasury Stock [Line Items]
Share repurchases (in shares)					2,574,000
Share repurchases					$ 292,000

Other Accrued Liabilities - Sch

Other Accrued Liabilities - Schedule of Other Accrued Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Payables and Accruals [Abstract]
Accrued compensation and benefits	$ 52,822	$ 42,075
Accrued rebate liability	24,331	16,834
Lease liability - Operating leases	14,203	8,995
Self-insurance accruals	7,048	11,257
Other	36,473	36,990
Total accrued liabilities	$ 134,877	$ 116,151

Business Segment Information -

Business Segment Information - Additional Information (Detail)	12 Months Ended
	Mar. 31, 2022segment
Segment Reporting [Abstract]
Number of reportable segments	3

Business Segment Information _2

Business Segment Information - Schedule of Revenue from Reportable Segments by Product Type (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Net sales	$ 2,769,315	$ 1,982,780	$ 1,673,805
Pipe
Segment Reporting Information [Line Items]
Net sales	1,539,434	1,052,920	952,603
Infiltrator
Segment Reporting Information [Line Items]
Net sales	460,500	329,144	169,348
International
Segment Reporting Information [Line Items]
Net sales	205,312	158,269	148,581
International | International - Pipe
Segment Reporting Information [Line Items]
Net sales	152,095	114,879	108,624
International | International - Allied Products & Other
Segment Reporting Information [Line Items]
Net sales	53,217	43,390	39,957
Allied Products & Other
Segment Reporting Information [Line Items]
Net sales	564,069	442,447	403,273
Net Sales
Segment Reporting Information [Line Items]
Net sales	(131,933)	(81,538)	(43,687)
Net Sales | Pipe
Segment Reporting Information [Line Items]
Net sales	1,555,248	1,059,200	954,633
Net Sales | Infiltrator
Segment Reporting Information [Line Items]
Net sales	551,906	397,813	211,005
Net Sales | International
Segment Reporting Information [Line Items]
Net sales	224,742	164,858	148,581
Net Sales | International | International - Pipe
Segment Reporting Information [Line Items]
Net sales	171,525	121,468	108,624
Net Sales | International | International - Allied Products & Other
Segment Reporting Information [Line Items]
Net sales	53,217	43,390	39,957
Net Sales | Allied Products & Other
Segment Reporting Information [Line Items]
Net sales	569,352	442,447	403,273
Intersegment Net Sales
Segment Reporting Information [Line Items]
Net sales	131,933	81,538	43,687
Intersegment Net Sales | Pipe
Segment Reporting Information [Line Items]
Net sales	(15,814)	(6,280)	(2,030)
Intersegment Net Sales | Infiltrator
Segment Reporting Information [Line Items]
Net sales	(91,406)	(68,669)	$ (41,657)
Intersegment Net Sales | International
Segment Reporting Information [Line Items]
Net sales	(19,430)	(6,589)
Intersegment Net Sales | International | International - Pipe
Segment Reporting Information [Line Items]
Net sales	(19,430)	$ (6,589)
Intersegment Net Sales | Allied Products & Other
Segment Reporting Information [Line Items]
Net sales	$ (5,283)

Business Segment Information _3

Business Segment Information - Schedule of Financial Information Attributable to Reportable Segments (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Segment adjusted gross profit	$ 927,892	$ 788,479	$ 574,086
Depreciation and amortization	141,808	145,586	124,940
Capital expenditures	149,083	78,757	67,677
Net Sales | Pipe
Segment Reporting Information [Line Items]
Segment adjusted gross profit	353,182	322,846	239,531
Depreciation and amortization	49,601	46,078	46,611
Capital expenditures	64,660	17,135	33,629
Net Sales | Infiltrator
Segment Reporting Information [Line Items]
Segment adjusted gross profit	231,825	191,163	98,245
Depreciation and amortization	14,021	12,468	7,159
Capital expenditures	72,435	54,024	24,917
Net Sales | International
Segment Reporting Information [Line Items]
Segment adjusted gross profit	58,822	49,921	36,999
Depreciation and amortization	5,464	5,430	6,013
Capital expenditures	3,301	1,627	2,623
Net Sales | Allied Products & Other
Segment Reporting Information [Line Items]
Segment adjusted gross profit	284,091	225,052	201,206
Depreciation and amortization	72,722	81,610	65,157
Capital expenditures	8,687	5,971	6,508
Intersegment Eliminations
Segment Reporting Information [Line Items]
Segment adjusted gross profit	$ (28)	$ (503)	$ (1,895)

Business Segment Information _4

Business Segment Information - Reconciliation of Gross Profit to Segment Adjusted Gross Profit (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Gross profit	$ 800,384	$ 690,082	$ 316,479
ESOP and stock-based compensation expense	77,559	65,434	32,395
ESOP acceleration and special dividend compensation	30,435	0	246,752
Inventory step up related to Infiltrator acquisition	0	0	7,880
Total Segment Adjusted Gross Profit	927,892	788,479	574,086
Segment Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation and amortization	71,705	66,408	62,225
ESOP and stock-based compensation expense	36,622	31,792	14,319
ESOP acceleration and special dividend compensation	19,181	0	168,610
COVID-19 related expenses	0	197	4,573
Infiltrator | Segment Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Inventory step up related to Infiltrator acquisition	$ 0	$ 0	$ 7,880

Business Segment Information _5

Business Segment Information - Net Sales and Long-Lived Asset by Geographic Location (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	$ 2,769,315	$ 1,982,780	$ 1,673,805
Long-Lived Assets	641,448	523,151
North America
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	2,746,521	1,966,947	1,655,219
Long-Lived Assets	628,985	511,290
Other
Revenues from External Customers and Long-Lived Assets [Line Items]
Net Sales	22,794	15,833	$ 18,586
Long-Lived Assets	$ 12,463	$ 11,861

Supplemental Disclosures of C_3

Supplemental Disclosures of Cash Flow Information - Supplemental Disclosures Cash Flow Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Supplemental disclosures of cash flow information — cash paid during years:
Interest	$ 32,837	$ 37,614	$ 41,290
Income taxes	106,355	97,636	8,710
Supplemental disclosures of noncash investing and financing activities:
Redeemable convertible preferred stock dividend	294	349	359
Purchases of plant, property, and equipment included in accounts payable	18,328	6,754	1,588
Accrued withholding taxes on vesting of restricted stock units	2,669	0	0
ESOP distributions in common stock	45,560	28,585	13,109
Lease obligations retired upon disposition of leased assets	$ 589	$ 1,940	$ 799

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - $ / shares	3 Months Ended	12 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Subsequent Event [Line Items]
Common stock, dividends, per share, declared (in dollars per share)		$ 0.44	$ 0.36	$ 1.36
Subsequent Event
Subsequent Event [Line Items]
Common stock, dividends, per share, declared (in dollars per share)	$ 0.12

Schedule II - Consolidated Va_2

Schedule II - Consolidated Valuation and Qualifying Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 5,323	$ 5,035	$ 7,653
Charged to costs and expenses	3,237	1,338	(24)
CECL Adoption	0	779	0
Charged to other accounts	123	99	(234)
Deductions	(485)	(1,928)	(2,360)
Balance at end of period	$ 8,198	$ 5,323	5,035
Valuation allowances and reserves, due to acquisition			$ 400