CSW Industrials (CSWI) 10-K 18 May 22 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	May 12, 2022	Sep. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Mar. 31, 2022
Current Fiscal Year End Date	--03-31
Document Transition Report	false
Entity File Number	001-37454
Entity Registrant Name	CSW INDUSTRIALS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-2266942
Entity Address, Address Line One	5420 Lyndon B. Johnson Freeway, Suite 500
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75240
City Area Code	214
Local Phone Number	884-3777
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	CSWI
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
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			$ 1,984
Entity Common Stock, Shares Outstanding		15,676,790
Documents Incorporated by Reference	Certain information contained in the definitive proxy statement for the registrant’s Annual Meeting of Stockholders is incorporated by reference into Part III hereof.
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Central Index Key	0001624794

Audit Information

Audit Information	12 Months Ended
	Mar. 31, 2022
Audit Information [Abstract]
Auditor Name	GRANT THORNTON LLP
Auditor Location	Dallas, Texas
Auditor Firm ID	248

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	[1]
Current assets:
Cash and cash equivalents	$ 16,619	$ 10,088
Accounts receivable, net	122,804	96,695
Inventories, net	150,114	102,651
Prepaid expenses and other current assets	10,610	9,684
Total current assets	300,147	219,118
Property, plant and equipment, net	87,032	82,554
Goodwill	224,658	218,795
Intangible assets, net	300,837	283,060
Other assets	82,686	75,995
Total assets	995,360	879,522
Current liabilities:
Accounts payable	47,836	32,444
Accrued and other current liabilities	69,005	49,743
Current portion of long-term debt	561	561
Total current liabilities	117,402	82,748
Long-term debt	252,214	241,776
Retirement benefits payable	1,027	1,695
Other long-term liabilities	140,306	137,853
Total liabilities	510,949	464,072
Commitments and contingencies (Note 18)
Redeemable noncontrolling interest	15,325	0
Equity:
Common shares	162	161
Preferred shares	0	0
Additional paid-in capital	112,924	104,690
Treasury shares, at cost (576 and 511 shares, respectively)	(46,448)	(34,075)
Retained earnings	407,522	350,670
Accumulated other comprehensive loss	(5,074)	(5,996)
Total equity	469,086	415,450	[2]
Total liabilities and equity	$ 995,360	$ 879,522
[1]	*Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[2]	The balances at March 31, 2019, 2020 and 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2022	Mar. 31, 2021
Statement of Financial Position [Abstract]
Common shares, par value (in USD per share)	$ 0.01	$ 0.01
Common shares, authorized (in shares)	50,000,000	50,000,000
Common shares, issued (in shares)	16,283,000	16,162,000
Preferred shares, par value (in USD per share)	$ 0.01	$ 0.01
Preferred shares, authorized (in shares)	10,000,000	10,000,000
Preferred shares, issued (in shares)	0	0
Treasury shares (in shares)	576,000	511,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	[1]	Mar. 31, 2020	[1]
Income Statement [Abstract]
Revenues, net	$ 626,435	$ 419,205		$ 385,871
Cost of revenues	(370,473)	(234,655)		(209,034)
Gross profit	255,962	184,550		176,837
Selling, general and administrative expenses	(158,582)	(125,330)		(110,032)
Impairment expenses	0	0		(951)
Operating income	97,380	59,220		65,854
Interest expense, net	(5,449)	(2,383)		(1,331)
Other expense, net	(466)	(5,969)		(7,135)
Income before income taxes	91,465	50,868		57,388
Provision for income taxes	(24,146)	(10,769)		(12,732)
Income from continuing operations	67,319	40,099	[2]	44,656	[2]
Income from discontinued operations, net of tax	0	0	[2]	1,061	[2]
Net income	67,319	40,099	[2]	45,717	[3]
Income attributable to redeemable noncontrolling interest	(934)	0		0
Net income attributable to CSW Industrials, Inc.	$ 66,385	$ 40,099		$ 45,717
Basic earnings per common share:
Continuing operations (in USD per share)	$ 4.21	$ 2.67		$ 2.97
Discontinued operations (in USD per share)	0	0		0.07
Basic (in USD per share)	4.21	2.67		3.04
Diluted earnings per common share:
Continuing operations (in USD per share)	4.20	2.65		2.94
Discontinued operations (in USD per share)	0	0		0.07
Net income (in USD per share)	$ 4.20	$ 2.65		$ 3.01
Weighted average number of shares outstanding:
Basic (in shares)	15,755	15,015		15,039
Diluted (in shares)	15,807	15,126		15,206
[1]	*Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[2]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[3]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021		Mar. 31, 2020	[3]
Statement of Comprehensive Income [Abstract]
Net income	$ 67,319	$ 40,099	[1],[2]	$ 45,717	[1]
Other comprehensive (loss) income:
Foreign currency translation adjustments	(44)	4,791	[3]	(2,316)
Cash flow hedging activity, net of taxes of $(142), $(156) and $265, respectively	533	587	[3]	(996)
Pension and other postretirement effects, net of taxes of $(138), $(34) and $(682), respectively	433	72	[3]	2,595
Other comprehensive income (loss)	922	5,450	[3]	(717)
Comprehensive income	68,241	45,549	[3]	45,000
Less: Comprehensive income attributable to redeemable noncontrolling interest	(934)	0	[3]	0
Total comprehensive income attributable to CSW Industrials, Inc.	$ 67,307	$ 45,549	[3]	$ 45,000
[1]	*Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[2]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[3]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Cash flow hedging activity, taxes	$ (142)	$ (156)	$ 265
Pension and other postretirement effect, taxes	$ (138)	$ (34)	$ (682)

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands		Total		Cumulative Effect, Period of Adoption, Adjustment	As Computed Under LIFO	Effect of Change	Effect of ChangeCumulative Effect, Period of Adoption, Adjustment	Common Stock		Common StockAs Computed Under LIFO	Treasury Shares		Treasury SharesAs Computed Under LIFO	Additional Paid-In Capital		Additional Paid-In CapitalAs Computed Under LIFO	Retained Earnings		Retained EarningsCumulative Effect, Period of Adoption, Adjustment	Retained EarningsAs Computed Under LIFO	Retained EarningsEffect of ChangeCumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss		Accumulated Other Comprehensive LossAs Computed Under LIFO
Balance at beginning of period at Mar. 31, 2019		$ 267,471	[1]	$ (206)	$ 263,686		$ 3,785	$ 158	[1]	$ 158	$ (49,964)	[1]	$ (49,964)	$ 46,633	[1]	$ 46,633	$ 281,373	[1]	$ (206)	$ 277,588	$ 3,785	$ (10,729)	[1]	$ (10,729)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation		5,074												5,074
Stock activity under stock plans		(1,980)						1			1,451			(3,432)
Repurchase of common shares		(26,864)									(26,864)
Net income		45,717	[2]		45,877	$ (160)											45,717
Dividends		(8,130)												52			(8,182)
Other comprehensive loss, net of tax		(717)	[3]																			(717)
Balance at end of period at Mar. 31, 2020	[1]	280,365						159			(75,377)			48,327			318,702					(11,446)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation		5,085												5,085
Stock activity under stock plans		(2,812)						2			(2,812)			(2)
Reissuance of treasury shares		102,638									51,405			51,233
Repurchase of common shares		(7,291)									(7,291)
Net income		40,099	[2]		40,287	(188)											40,099
Dividends		(8,085)												47			(8,132)
Other comprehensive loss, net of tax		5,450	[3]																			5,450
Balance at end of period at Mar. 31, 2021	[1]	415,450	[4]					161			(34,075)			104,690			350,670					(5,996)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based compensation		8,450												8,450
Stock activity under stock plans		(4,883)						1			(4,884)			0
Reissuance of treasury shares		6,649									6,938			(289)
Repurchase of common shares		(14,427)									(14,427)
Net income		66,385			$ 64,245	$ 2,140											66,385
Dividends		(9,460)												73			(9,533)
Other comprehensive loss, net of tax		922																				922
Balance at end of period at Mar. 31, 2022		$ 469,086						$ 162			$ (46,448)			$ 112,924			$ 407,522					$ (5,074)
[1]	The balances at March 31, 2019, 2020 and 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[2]	*Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[3]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[4]	*Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

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		$ 67,319	$ 40,099	[1],[2]	$ 45,717	[1],[3]
Less: Income from discontinued operations, net of tax		0	0	[1],[2]	1,061	[1],[2]
Income from continuing operations		67,319	40,099	[1],[2]	44,656	[1],[2]
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation		11,572	9,194	[2]	7,918	[2]
Amortization of intangible and other assets		25,314	13,843	[2]	6,927	[2]
Provision for inventory reserves		1,553	1,558	[2]	184	[2]
Provision for doubtful accounts		1,498	696	[2]	909	[2]
Share-based and other executive compensation		8,450	5,086	[2]	5,074	[2]
Net gain on disposals of property, plant and equipment		(85)	(23)	[2]	(833)	[2]
Pension plan termination expense		0	0	[2]	6,559	[2]
Net pension benefit		31	163	[2]	(121)	[2]
Impairment of intangible assets		0	0	[2]	951	[2]
Net deferred taxes		(3,261)	(1,798)	[2]	486	[2]
Changes in operating assets and liabilities:
Accounts receivable		(26,729)	(7,219)	[2]	(7,997)	[2]
Inventories		(49,403)	(3,377)	[2]	(1,653)	[2]
Prepaid expenses and other current assets		3,479	(4,246)	[2]	3,969	[2]
Other assets		626	(1,532)	[2]	29	[2]
Accounts payable and other current liabilities		27,983	13,856	[2]	5,884	[2]
Retirement benefits payable and other liabilities		742	(46)	[2]	(1,545)	[2]
Net cash provided by operating activities, continuing operations		69,089	66,254	[2]	71,397	[2]
Net cash used in operating activities, discontinued operations		0	0	[2]	(1,500)	[2]
Net cash provided by operating activities		69,089	66,254	[2]	69,897	[2]
Cash flows from investing activities:
Capital expenditures		(15,653)	(8,833)	[2]	(11,437)	[2]
Proceeds from sale of assets held for investment		0	6,152	[2]	0	[2]
Proceeds from sale of assets		139	30	[2]	1,292	[2]
Cash paid for acquisitions		(35,942)	(287,238)	[2]	(11,837)	[2]
Net cash used in investing activities, continuing operations		(51,456)	(289,889)	[2]	(21,982)	[2]
Net cash provided by investing activities, discontinued operations		0	0	[2]	1,538	[2]
Net cash used in investing activities		(51,456)	(289,889)	[2]	(20,444)	[2]
Cash flows from financing activities:
Borrowings on lines of credit		94,000	255,000	[2]	7,500	[2]
Repayments of lines of credit		(83,561)	(23,561)	[2]	(28,061)	[2]
Payments of deferred loan costs		(2,328)	(148)	[2]	0	[2]
Purchase of treasury shares		(19,311)	(10,489)	[2]	(28,460)	[2]
Proceeds from stock option activity		1,327	1,330	[2]	0	[2]
Proceeds from acquisition of redeemable noncontrolling interest shareholder		6,293	0	[2]	0	[2]
Dividends paid to shareholders		(9,459)	(8,083)	[2]	(8,130)	[2]
Net cash (used in) provided by financing activities		(13,039)	214,049	[2]	(57,151)	[2]
Effect of exchange rate changes on cash and equivalents		1,937	1,336	[2]	(615)	[2]
Net change in cash and cash equivalents		6,531	(8,250)	[2]	(8,313)	[2]
Cash and cash equivalents, beginning of period	[2]	10,088	18,338		26,651
Cash and cash equivalents, end of period		16,619	10,088	[2]	18,338	[2]
Supplemental non-cash disclosure:
Cash paid during the year for interest		4,955	1,875	[2]	1,165	[2]
Cash paid during the year for income taxes		$ 20,485	$ 14,021	[2]	$ 8,873	[2]
[1]	*Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[2]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[3]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Organization and Operations and

Organization and Operations and Summary of Significant Accounting Policies	12 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Operations and Summary of Significant Accounting Policies	ORGANIZATION AND OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES CSWI is a diversified industrial growth company with a strategic focus on providing niche, value-added products in the end markets we serve. We operate in three business segments: Contractor Solutions, Engineered Building Solutions and Specialized Reliability Solutions. Our products include mechanical products for heating, ventilation, air conditioning and refrigeration ("HVAC/R"), plumbing products, grilles, registers and diffusers ("GRD"), building safety solutions and high-performance specialty lubricants and sealants. End markets that we serve include HVAC/R, architecturally-specified building products, plumbing, energy, rail, mining and general industrial. Drawing on our innovative and proven technologies, we seek to deliver solutions to our professional customers that require superior performance and reliability. Our diverse product portfolio includes more than 100 highly respected industrial brands including RectorSeal No. 5 ® , KOPR-KOTE ® , KATS Coatings ® , Safe-T-Switch ® , Air Sentry ® , Deacon ® , Leak Freeze ®, Greco ® and TRUaire® and Shoemaker Manufacturing TM . The COVID-19 pandemic and its resulting impacts had an overall negative impact on our financial results in our prior fiscal year ended March 31, 2021. During our current fiscal year ended March 31, 2022, the direct impact of the COVID-19 pandemic on our consolidated operating results was limited, in all material respects, to our operations in Vietnam. In early August 2021, the Vietnamese government mandated numerous restrictions in an effort to mitigate the spread of COVID-19, including closures of non-essential businesses, limitations on movements of individuals, and the imposition of other highly-restrictive measures for businesses, like ours, that continued operations in compliance with the restrictions. Our Vietnam operations began resuming normal production activities in late November 2021, when the Vietnamese government-mandated restrictions began to ease. Regarding our operations generally, the indirect impacts of the COVID-19 pandemic have resulted in material and freight cost inflation, supply chain disruptions and freight delays, driven by numerous factors including countermeasures taken by U.S. federal, state and/or local governments and the Federal Reserve, labor supply shortages, and recovering demand. We expect material and freight cost volatility, supply chain challenges and freight delays to continue in the near-term, and we are addressing these impacts through focused inventory management and by continuing and increasing the pricing initiatives that began in the three months ended March 31, 2021. While the COVID-19 pandemic and its indirect effects have contributed to increased demand in certain parts of our business, including the HVAC/R end market, we expect customer demand levels and our overall results of operations and financial condition to have some level of volatility through the duration of the pandemic when compared to pre-pandemic periods. Despite strong demand in certain of our end markets and clear signs of recovery in others, we cannot reasonably estimate the magnitude or length of the pandemic’s direct and indirect adverse impact, including its ultimate impact on our business or financial condition, due to continued uncertainty regarding (1) the duration and severity of the COVID-19 pandemic, including any surges due to the variants and (2) the continued potential for short and long-term impacts on our facilities and employees, customer demand and supply chain. We are closely monitoring the Russian invasion of Ukraine and its global impacts. We have no operations, employees or assets in Russia, Belarus or Ukraine, nor do we source goods or services of any material amount from those countries, whether directly or indirectly. During the fiscal year ended March 31, 2022, we had no sales into Belarus or Ukraine and our sales into Russia were immaterial to both our consolidated sales and the sales for our Specialized Reliability Solutions segment. Additionally, shortly after the Russian invasion of Ukraine began in February 2022, we indefinitely suspended all business activity in Russia. While the conflict continues to evolve and the outcome remains highly uncertain, we do not currently believe the Russia-Ukraine conflict will have a material impact on our business and results of operations. However, if the Russia-Ukraine conflict continues or worsens, leading to greater global economic or political disruptions and uncertainty, our business and results of operations could be materially impacted as a result. Basis of Presentation – The consolidated financial position, results of operations and cash flows included in this Annual Report on Form 10-K for the fiscal year ended March 31, 2022 (“Annual Report”) include all revenues, costs, assets and liabilities directly attributable to CSWI and have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”). The consolidated financial statements are for us and our consolidated subsidiaries, each of which is a wholly-owned subsidiary, except our 50% investment in a variable interest entity for which we have determined that we are the primary beneficiary and therefore have consolidated into our financial statements. All significant intercompany transactions have been eliminated in consolidation. Variable Interest Entities - We evaluate whether an entity is a variable interest entity (“VIE”) and determine if the primary beneficiary status is appropriate on a quarterly basis. We consolidate a VIE for which we are the primary beneficiary. When assessing the determination of the primary beneficiary, we consider all relevant facts and circumstances, including: the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, the obligation to absorb the expected losses and/or the right to receive the expected returns of the VIE. Through this evaluation, we determined that the Whitmore JV is a VIE and the Company is the primary beneficiary of this VIE, primarily due to Whitmore having the power to direct the manufacturing activities, which are considered the most significant activities for the Whitmore JV. Use of Estimates – The process of preparing financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect reported amounts of certain assets, liabilities, revenues and expenses. We believe our estimates and assumptions are reasonable; however, actual results may differ materially from such estimates. The most significant estimates and assumptions are used in determining: • Timing and amount of revenue recognition; • Deferred taxes and tax reserves; and • Valuation of goodwill and indefinite-lived intangible assets. Change in Accounting Principle - During the fourth quarter of the fiscal year ended March 31, 2022, the Company changed its method of accounting for certain domestic inventory previously valued by the last-in, first-out ("LIFO") method to the first-in, first-out ("FIFO") method. All prior periods presented have been retrospectively adjusted to apply the new method of accounting. Refer to Note 7 for more information on the change in inventory accounting method. Cash and Cash Equivalents – We consider all highly liquid instruments purchased with original maturities of three months or less and money market accounts to be cash equivalents. We maintain our cash and cash equivalents at financial institutions for which the combined account balances in individual institutions may exceed insurance coverage and, as a result, there is a concentration of credit risk related to amounts on deposit in excess of insurance coverage. We had deposits in domestic banks of $11.3 million and $6.1 million at March 31, 2022 and 2021, respectively, and balances of $5.3 million and $4.0 million were held in foreign banks at March 31, 2022 and 2021, respectively. Accounts Receivable, Allowance for Doubtful Accounts and Credit Risk – Trade accounts receivables are recorded at the invoiced amounts and do not bear interest. We record an allowance for credit losses on trade receivables that, when deducted from the gross trade receivables balance, presents the net amount expected to be collected. We estimate the allowance based on an aging schedule and according to historical losses as determined from our billings and collections history. This may be adjusted after consideration of customer-specific factors such as financial difficulties, liquidity issues or insolvency, as well as both current and forecasted macroeconomic conditions as of the reporting date. We adjust the allowance and recognize credit losses in the income statement each period. Trade receivables are written off against the allowance in the period when the receivable is deemed to be uncollectible. Subsequent recoveries of amounts previously written off are reflected as a reduction to periodic credit losses in the income statement. Our allowance for expected credit losses for short-term receivables as of March 31, 2022 was $1.2 million, compared to $0.9 million as of March 31, 2020. Credit risks are mitigated by the diversity of our customer base across many different industries and by performing creditworthiness analyses on our customers. Additionally, we mitigate credit risk through letters of credit and advance payments received from our customers. We do not believe that we have any significant concentrations of credit risk. Inventories and Related Reserves – Inventories are stated at the lower of cost or net realizable value and include raw materials, supplies, direct labor and manufacturing overhead. Cost is determined using the first-in, first-out (“FIFO”) method for valuing inventories at majority of our domestic operations. Our foreign subsidiaries and some domestic operations use either the FIFO or the weighted average cost method to value inventory. Foreign inventories represent approximately 10% and 12% of total inventories as of March 31, 2022 and 2021, respectively. Reserves are provided for slow-moving or excess and obsolete inventory based on the difference between the cost of the inventory and its net realizable value and by reviewing quantities on hand in comparison with historical and expected future usage. In estimating the reserve for excess or slow-moving inventory, management considers factors such as product aging, current and future customer demand and market conditions. Property, Plant and Equipment – Property, plant and equipment are stated at cost and depreciated using the straight-line method over the estimated useful lives of the individual assets. When property, plant and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the accounts, and the resulting gain or loss is included in income from operations for the period. Generally, the estimated useful lives of assets are: Land improvements 5 to 40 years Buildings and improvements 7 to 40 years Plant, office and lab equipment 5 to 10 years We review property, plant and equipment for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Repairs and maintenance costs are expensed as incurred, and significant improvements that either extend the useful life or increase the capacity or efficiency of property and equipment are capitalized and depreciated. Valuation of Goodwill and Intangible Assets – The value of goodwill is tested for impairment at least annually as of January 31 or whenever events or circumstances indicate such assets may be impaired. The identification of our reporting units began at the operating segment level and considered whether components one level below the operating segment levels should be identified as reporting units for purpose of testing goodwill for impairment based on certain conditions. These conditions included, among other factors, (i) the extent to which a component represents a business and (ii) the aggregation of economically similar components within the operating segments. Other factors that were considered in determining whether the aggregation of components was appropriate included the similarity of the nature of the products and services, the nature of the production processes, the methods of distribution and the types of industries served. Accounting Standards Codification ("ASC") 350 allows an optional qualitative assessment, prior to a quantitative assessment test, to determine whether it is more likely than not that the fair value of a reporting unit exceeds its carrying amount. We bypassed the qualitative assessment and proceeded directly to the quantitative test. If the carrying value of a reporting unit exceeds it fair value, the goodwill of that reporting unit is impaired and an impairment loss is recorded equal to the excess of the carrying value over its fair value. We estimate the fair value of our reporting units based on an income approach, whereby we calculate the fair value of a reporting unit base on the present value of estimated future cash flows. A discounted cash flow analysis requires us to make various judgmental assumptions about future sales, operating margins, growth rates and discount rates, which are based on our budgets, business plans, economic projections, anticipated future cash flows and market participants and are considered non-recurring Level III inputs within the fair value hierarchy. No goodwill impairment loss was recognized as a result of the impairment tests for the years ended March 31, 2022, 2021 or 2020. We have intangible assets consisting of patents, trademarks, customer lists and non-compete agreements. Definite-lived intangible assets are assessed for impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable. In addition, we have other trademarks and license agreements that are considered to have indefinite lives. We test indefinite-lived intangible assets for impairment at least annually as of January 31 or whenever events or circumstances indicate that the carrying amount may not be recoverable. Significant assumptions used in the impairment test include the discount rate, royalty rate, future sales projections and terminal value growth rate. These inputs are considered non-recurring Level III inputs within the fair value hierarchy. An impairment loss would be recognized when estimated future cash flows are less than their carrying amount. We recorded an impairment of intangible assets of continuing operations of $0, $0 and $1.0 million for the years ended March 31, 2022, 2021 and 2020, respectively. Property Held for Investment – One of our non-operating subsidiaries holds and manages a non-operating property, which is valued at lower of cost or market and disposed of as opportunities arise to maximize value. Deferred Loan Costs – Deferred loan costs related to our credit facility, which are reported in other assets and consist of fees and other expenses associated with debt financing, are amortized over the term of the associated debt using the effective interest method. Fair Values of Financial Instruments – Our financial instruments are presented at fair value in our consolidated balance sheets, with the exception of our long-term debt, as discussed in Note 9. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models may be applied. Assets and liabilities recorded at fair value in our consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Hierarchical levels, as defined by Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures,” are directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities. An asset or a liability’s categorization within the fair value hierarchy is based on the lowest level of significant input to its valuation. Hierarchical levels are as follows: Level I – Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level II – Inputs (other than quoted prices included in Level I) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life. Level III – Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model. Recurring fair value measurements are limited to redeemable noncontrolling interest, investments in derivative instruments and assets held in defined benefit pension plans. The redemption value of the redeemable noncontrolling interest is estimated using a discounted cash flow analysis, which requires management judgment with respect to future revenue, operating margins, growth rates and discount rates and is classified as Level III under the fair value hierarchy. The fair value measurements of our derivative instruments are determined using models that maximize the use of the observable market inputs including interest rate curves and both forward and spot prices for currencies, and are classified as Level II under the fair value hierarchy. The redemption value of the redeemable noncontrolling interest is discussed in Note 3. The fair values of our derivative instruments are included in Note 11. The fair values of assets held in defined benefit pension plans are discussed in Note 15. Leases – We determine if a contract is or contains a lease at inception by evaluating whether the contract conveys the right to control the use of an identified asset. Right-of-Use (“ROU”) assets and lease liabilities are initially recognized at the commencement date based on the present value of remaining lease payments over the lease term calculated using our incremental borrowing rate, unless the implicit rate is readily determinable. ROU assets represent the right to use an underlying asset for the lease term, including any upfront lease payments made and excluding lease incentives. Lease liabilities represent the obligation to make future lease payments throughout the lease term. As most of our operating leases do not provide an implicit rate, we apply our incremental borrowing rate to determine the present value of remaining lease payments. Our incremental borrowing rate is determined based on information available at the commencement date of the lease. The lease term includes renewal periods when we are reasonably certain to exercise the option to renew. The ROU asset is amortized over the expected lease term. Lease and non-lease components, when present on our leases, are accounted for separately. Leases with an initial term of 12 months or less are excluded from recognition in the balance sheet, and the expense for these short-term leases and for operating leases is recognized on a straight-line basis over the lease term. We have certain lease contracts with terms and conditions that provide for variability in the payment amount based on changes in facts or circumstances occurring after the commencement date. These variable lease payments are recognized in our consolidated income statements as the obligation is incurred. As of March 31, 2022, we did not have material leases that imposed significant restrictions or covenants, material related party leases or sale-leaseback arrangements. Derivative Instruments and Hedge Accounting – We do not use derivative instruments for trading or speculative purposes. We enter into interest rate swap agreements for the purpose of hedging our cash flow exposure to floating interest rates on certain portions of our debt. All derivative instruments are recognized on the balance sheet at their fair values. Changes in the fair value of a designated interest rate swap are recorded in other comprehensive loss until earnings are affected by the underlying hedged item. Any ineffective portion of the gain or loss is immediately recognized in earnings. Upon settlement, realized gains and losses are recognized in interest expense in the consolidated statements of operations. We discontinue hedge accounting when (1) we deem the hedge to be ineffective and determine that the designation of the derivative as a hedging instrument is no longer appropriate; (2) the derivative matures, terminates or is sold; or (3) occurrence of the contracted or committed transaction is no longer probable or will not occur in the originally expected period. When hedge accounting is discontinued and the derivative remains outstanding, we carry the derivative at its estimated fair value on the balance sheet, recognizing changes in the fair value in current period earnings. If a cash flow hedge becomes ineffective, any deferred gains or losses remain in accumulated other comprehensive loss until the underlying hedged item is recognized. If it becomes probable that a hedged forecasted transaction will not occur, deferred gains or losses on the hedging instrument are recognized in earnings immediately. We are exposed to risk from credit-related losses resulting from nonperformance by counterparties to our financial instruments. We perform credit evaluations of our counterparties under forward exchange contracts and interest rate swap agreements and expect all counterparties to meet their obligations. If necessary, we adjust the values of our derivative contracts for our or our counterparties’ credit risk. Pension Obligations – Determination of pension benefit obligations is based on estimates made by management in consultation with independent actuaries. Inherent in these valuations are assumptions including discount rates, expected rates of return on plan assets, retirement rates, mortality rates and rates of compensation increase and other factors, all of which are reviewed annually and updated if necessary. Current market conditions, including changes in rates of return, interest rates and medical inflation rates, are considered in selecting these assumptions. Actuarial gains and losses and prior service costs are recognized in accumulated other comprehensive loss as they arise, and we amortize these costs into net pension expense over the remaining expected service period. We used a measurement date of March 31 for all periods presented. Redeemable Noncontrolling Interests - Noncontrolling interests with redemption features that are not solely within our control are considered redeemable noncontrolling interests. Our redeemable noncontrolling interest relates to Shell's 50% equity interest in the Whitmore JV and is classified in temporary equity that is reported between liabilities and shareholders' equity on our Consolidated Balance Sheets initially at its formation-date fair value. We adjust the redeemable noncontrolling interest each reporting period for the net income (or loss) attributable to the noncontrolling interest. We also make a measurement period adjustment, if any, to adjust the redeemable noncontrolling interest to the higher of the redemption value or carrying value each reporting period. These adjustments are recognized through retained earnings and are not reflected in net income or net income attributable to CSWI. The redemption value of the redeemable noncontrolling interest is estimated using a discounted cash flow analysis, which requires management judgment with respect to future revenue, operating margins, growth rates and discount rates. Net income (loss) attributable to the redeemable noncontrolling interests are presented as a separate line on the consolidated statements of operations which is necessary to identify those income (loss) specifically attributable to CSWI. The financial results and position of the redeemable noncontrolling interest acquired through the formation of the Whitmore JV are included in their entirety in our consolidated statements of operations and consolidated balance sheets beginning with the first quarter of fiscal 2022. When calculating earnings per share attributable to CSWI, we adjust net income attributable to CSWI for the excess portion of the measurement period adjustment to the extent the redemption value exceeds both the carrying value and the fair value of the redeemable noncontrolling interest on a cumulative basis. Refer to Note 3 for further information regarding the redeemable noncontrolling interest. Revenue Recognition – We recognize revenues to depict the transfer of control of promised goods or services to our customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. Refer to Note 20 for further discussion. We recognize revenue when all of the following criteria have been met: (i) a contract with a customer exists, (ii) performance obligations have been identified, (iii) the price to the customer has been determined, (iv) the price to the customer has been allocated to the performance obligations, and (v) performance obligations are satisfied, which are more fully described below. (i) We identify a contract with a customer when a sales agreement indicates approval and commitment of the parties; identifies the rights of the parties; identifies the payment terms; has commercial substance; and it is probable that we will collect the consideration to which we will be entitled in exchange for the goods or services that will be transferred to the customer. In most instances, our contract with a customer is the customer's purchase order. For certain customers, we may also enter into a sales agreement that outlines a framework of terms and conditions that apply to all future purchase orders for that customer. In these situations, our contract with the customer is both the sales agreement and the specific customer purchase order. Because our contract with a customer is typically for a single transaction or customer purchase order, the duration of the contract is one year or less. As a result, we have elected to apply certain practical expedients and, as permitted by the Financial Accounting Standards Board ("FASB"), omit certain disclosures of remaining performance obligations for contracts that have an initial term of one year or less. (ii) We identify performance obligations in a contract for each promised good or service that is separately identifiable from other promises in the contract and for which the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer. Goods and services provided to our customers that are deemed immaterial are included with other performance obligations. (iii) We determine the transaction price as the amount of consideration we expect to be entitled to in exchange for fulfilling the performance obligations, including the effects of any variable consideration. (iv) For any contracts that have more than one performance obligation, we allocate the transaction price to each performance obligation in an amount that depicts the amount of consideration to which we expect to be entitled in exchange for satisfying each performance obligation. We have excluded disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less as the majority of our contracts are short-term in nature with a term of one year or less. (v) We recognize revenue when, or as, we satisfy the performance obligation in a contract by transferring control of a promised good or service to the customer. We exclude from the measurement of the transaction price all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected from a customer. As such, we present revenue net of sales and other similar taxes. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as a fulfillment cost and are included in cost of revenues. Costs to obtain a contract, which include sales commissions recorded in selling, general and administrative expense, are expensed when incurred as the amortization period is one year or less. We do not have customer contracts that include significant financing components. Research and Development ("R&D") – R&D costs are expensed as incurred. Costs incurred for R&D primarily include salaries and benefits and consumable supplies, as well as rent, professional fees, utilities and the depreciation of property and equipment used in R&D activities. R&D costs included in selling, general and administrative expense were $4.8 million, $4.5 million and $4.3 million for the years ended March 31, 2022, 2021 and 2020, respectively. Share-based Compensation – Share-based compensation is measured at the grant-date fair value. The exercise price of stock option awards and the fair value of restricted share awards are set at the closing price of our common stock on the Nasdaq Global Select Market on the date of grant, which is the date such grants are authorized by our Board of Directors. The fair value of performance-based restricted share awards is determined using a Monte Carlo simulation model incorporating all possible outcomes against the Russell 2000 Index. The fair value of share-based payment arrangements is amortized on a straight-line basis to compensation expense over the period in which the restrictions lapse based on the expected number of shares that will vest. To cover the exercise of options and vesting of restricted shares, we generally issue new shares from our authorized but unissued share pool, although we may instead issue treasury shares in certain circumstances. Income Taxes, Deferred Taxes, Tax Valuation Allowances and Tax Reserves – We apply the liability method in accounting and reporting for income taxes. Under the liability approach, deferred tax assets and liabilities are determined based upon the difference between the financial statement carrying amounts and the tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax rates expected to be in effect when these differences are expected to reverse. The effect on deferred tax assets and liabilities resulting from a change in tax rates is recognized in the period that includes the enactment date. The deferred income tax assets are adjusted by a valuation allowance, if necessary, to recognize future tax benefits only to the extent, based on available evidence, that it is more likely than not to be realized. This analysis is performed on a jurisdictional basis and reflects our ability to utilize these deferred tax assets through a review of past, current and estimated future taxable income in addition to the establishment of viable tax strategies that will result in the utilization of the deferred assets. We recognize income tax related interest and penalties, if any, as a component of income tax expense. Unremitted Earnings – During the fiscal quarter ended March 31, 2019, we lifted our assertion that the earnings of our United Kingdom ("U.K.") and Australian subsidiaries were indefinitely invested outside of the U.S. During the fiscal quarter ended September 30, 2020, we lifted our assertion that the earnings of our Jet Lube Canada subsidiary were indefinitely invested outside of the U.S. We assert that the foreign earnings of the U.K., Australian, Vietnam, RectorSeal Canada and Jet Lube Canada subsidiaries will be remitted to the U.S. through distributions. A provision was made for taxes that may become payable upon distribution of earnings from our U.K., Australian, Vietnam and Jet Lube Canada subsidiaries. We still consider the earnings of our other Canadian subsidiaries indefinitely invested outside the U.S. as we have needs for working capital in our other Canadian entities. Uncertain Tax Positions – We establish income tax liabilities to remove some or all of the income tax benefit of

Acquisitions

Acquisitions	12 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	ACQUISITIONS Shoemaker Manufacturing, LLC On December 15, 2021, we acquired 100% of outstanding equity of Shoemaker Manufacturing, LLC (“Shoemaker”), based in Cle Elum, Washington, for an aggregate purchase price of $43.5 million, including working capital and closing cash adjustments and expected contingent consideration. Shoemaker offers high-quality customizable GRD for commercial and residential markets, and expands CSWI’s HVAC/R product offering and regional exposure in the northwest U.S. The aggregate purchase price was comprised of cash consideration of $38.5 million (including $1.2 million cash acquired), 25,483 shares of the Company's common stock valued at $3.0 million at transaction close and additional contingent consideration of up to $2.0 million based on Shoemaker meeting a defined financial target during the quarter ended March 31, 2022, which was achieved. The cash consideration was funded with cash on hand and borrowings under our existing Revolving Credit Facility. The 25,483 shares of common stock delivered to the sellers as consideration were issued from treasury shares. As of the acquisition date, the estimated fair value of the contingent consideration obligation was classified as a current liability of $2.0 million and was determined using a scenario-based analysis on forecasted future results. In May 2022, the full earn-out amount of $2.0 million was remitted to the sellers due to the performance obligation had been met. During the year ended March 31, 2022, we incurred $0.7 million in transaction expenses in connection with the Shoemaker acquisition, which were included in selling, general and administrative expenses in the Consolidated Statement of Operations under the Contractor Solution segment. The Shoemaker acquisition was accounted for as a business combination under FASB Accounting Standards Codification Topic 805, Business Combinations ("Topic 805"). The excess of the purchase price over the preliminary fair value of the identifiable assets acquired was $8.1 million allocated to goodwill, which represents the value expected to be obtained from owning a more extensive GRD product portfolio for the HVAC/R market and increased regional exposure to the northwest U.S. The preliminary allocation of the fair value of the net assets acquired included customer lists ($23.0 million), trademarks ($6.5 million), noncompete agreements ($0.7 million), backlog ($0.3 million), inventory ($3.6 million), accounts receivable ($1.7 million), cash ($1.2 million), equipment ($1.4 million) and prepaid expenses ($0.2 million), net of current liabilities ($3.2 million). Customer lists, noncompete agreements and backlog are being amortized over 15 years, 5 years and 1 month, respectively, while trademarks and goodwill are not being amortized. The Company's evaluation of the facts and circumstances available of December 15, 2021, to assign fair values to assets acquired and liabilities assumed is ongoing. We expect to finalize the purchase price allocation as soon as practicable, but no later than one year from the acquisition date. Goodwill and all intangible assets, including customer lists, trademarks, noncompete agreements and backlog are deductible and amortized over 15 years for income tax purposes. Shoemaker activity has been included in our Contractor Solutions segment since the acquisition date. No proforma information has been provided due to immateriality. T.A. Industries On December 15, 2020, we acquired 100% of the outstanding equity of T.A. Industries, Inc. (“TRUaire”), a leading manufacturer of grilles, registers, and diffusers for the residential and commercial HVAC/R end market, based in Santa Fe Springs, California. The acquisition also included TRUaire’s wholly-owned manufacturing facility based in Vietnam. The acquisition extended the Company’s product offerings to the HVAC market and provided strategic distribution facilities. The contractual consideration paid for TRUaire included cash of $288.0 million (after working capital and closing cash adjustments) and 849,852 shares of the Company’s common stock valued at $97.7 million at transaction close based on the closing market price of the Company's common shares on the acquisition date. The cash consideration was funded through a combination of cash on hand and borrowings under our Revolving Credit Facility. The 849,852 shares of common stock delivered to the sellers as consideration were reissued from treasury shares. Acquisition Consideration (Amounts in thousands, except for shares) Cash (a) $ 287,986 Common stock (849,852 shares) 97,656 Total consideration transferred $ 385,642 (a) Amount includes working capital and closing cash adjustments, and includes a $1.0 million to be paid to the sellers as a result of an expected tax refund pursuant to the purchase agreement. The TRUaire acquisition was accounted for as a business combination under FASB Accounting Standards Codification Topic 805, Business Combinations ("Topic 805"). Pursuant to Topic 805, the Company allocated the TRUaire purchase price to tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date, December 15, 2020. The excess of the purchase price over those fair values was recorded to goodwill. The Company completed the analysis of tangible assets, intangible assets, liabilities assumed and the related allocation during the three months ended December 31, 2021. The following table summarizes the Company's best initial estimate of the aggregate fair value of the assets acquired and liabilities assumed at the date of acquisition (in thousands). Initial Estimated Fair Value Measurement Period Adjustments Updated Estimated Fair Value Cash $ 1,471 $ — $ 1,471 Accounts Receivable, net 13,467 (17) 13,450 Inventory 46,313 (1,300) 45,013 Short-Term Tax Indemnity Assets 5,000 — 5,000 Other Current Assets 1,285 2,103 3,388 Property, Plant and Equipment 28,832 (4,201) 24,631 Trade Name (indefinite life) 43,500 — 43,500 Customer Lists (useful life of 15 years) 194,000 8,500 202,500 Right-Of-Use Assets 49,040 — 49,040 Long-Term Tax Indemnity Assets 7,500 — 7,500 Other Long-term Assets 2,850 (698) 2,152 Accounts Payable (4,074) — (4,074) Accrued and Other Current Liabilities (3,678) (172) (3,850) Lease Liabilities - Short-Term (4,811) — (4,811) Deferred Tax Liabilities (a) (56,249) (3,784) (60,033) Tax Contingency Reserve (22,511) 5,190 (17,321) Lease Liabilities - Long-Term (45,369) — (45,369) Estimated fair value of net assets acquired 256,566 5,621 262,187 Goodwill (a) 129,169 (5,714) 123,455 Total Purchase Price $ 385,735 $ (93) $ 385,642 (a) Reflects an immaterial adjustment of $1.8 million to both goodwill and deferred tax liabilities associated with the opening balance sheets inventory. Deferred tax liabilities were established to record the deferred tax impact of purchase price accounting adjustments, primarily related to intangibles assets. Tax contingency reserves relate to uncertain tax positions TRUaire took in the periods prior to the acquisition date. In accordance with the tax indemnification included in the purchase agreement of TRUaire, the seller provided contractual indemnification to the Company for up to $12.5 million related to uncertain tax positions taken in prior years. The outcome of this arrangement will either be settled or expire by 2023. During the three months ended March 31, 2021, TRUaire received an audit closing letter from Internal Revenue Service related to calendar 2017, a pre-acquisition tax year. As a result of this, $5.0 million of the relevant tax indemnification was released in accordance with the purchase agreement. The release of the relevant uncertain tax position accrual of $5.3 million was recorded as an income tax benefit for the three months ended March 31, 2021, and the offsetting indemnification expense of $5.0 million was recorded in other expense on the consolidated statement of operations. As of March 31, 2022, approximately $7.5 million of the indemnification assets remained outstanding. Goodwill of $123.5 million represents the excess of the purchase price over the fair value of the underlying tangible and intangible assets acquired and liabilities assumed. The acquisition goodwill represents the value expected to be obtained from expanding the Company’s product offerings more broadly across the HVAC end market. The goodwill recorded as part of this acquisition is included in the Contractor Solutions segment. The goodwill associated with the acquisition will not be amortized for financial reporting purposes and will not be deductible for income tax purposes. TRUaire activity has been included in our Contractor Solutions segment since the acquisition date. During the years ended March 31, 2022 and March 31, 2021, the Company incurred and paid $0 and $7.8 million transaction expenses in connection with the TRUaire acquisition. Effective April 1, 2022, TRUaire was fully integrated with RectorSeal, the primary operating company of the Contractor Solutions segment. Pursuant to Topic 805, unaudited supplemental proforma results of operations for the year ended March 31, 2021 and 2020, as if the acquisition of TRUaire had occurred on April 1, 2019 are presented below (in thousands, except per share amounts): Year Ended March 31, 2021 2020 Revenue, net $ 495,788 $ 480,285 Net income 47,648 28,492 Net earnings per common share: Diluted $ 3.03 $ 1.77 Basic 3.05 1.79 These proforma results do not present financial results that would have been realized had the acquisition occurred on April 1, 2019, nor are they intended to be a projection of future results. The unaudited proforma results include certain proforma adjustments to net income that were directly attributable to the acquisition, as if the acquisition had occurred on April 1, 2019, including the following: • Transactions expenses of $0 and $7.8 million for the years ended March 31, 2021 and 2020, respectively, that would have been recognized by the Company related to the TRUaire acquisition; • Additional depreciation expense of $0.4 million and $0.5 million for the years ended March 31, 2021 and 2020, respectively, that would have been recognized as a result of the fair value step-up of the property, plant and equipment; • Additional amortization expense of $0 and $7.9 million for the years ended March 31, 2021 and 2020, respectively, that would have been recognized as a result of the fair value step-up of the inventory; • Additional amortization expense of $9.6 million and $13.5 million for the years ended March 31, 2021 and 2020, respectively, that would have been recognized as a result of the allocation of purchase consideration to customer lists subject to amortization; • Estimated additional interest expense of $3.3 million and $4.6 million for the years ended March 31, 2021 and 2020, respectively, as a result of incurring additional borrowing; • Income tax effect of the proforma adjustments calculated using a blended statutory income tax rate of 24.5% of $3.2 million and $8.4 million for the years ended March 31, 2021 and 2020, respectively. Petersen Metals On April 2, 2019, we acquired the assets of Petersen Metals, Inc. (“Petersen”), based near Tampa, Florida, for $11.8 million, of which $11.5 million was paid at closing and funded through our Revolving Credit Facility, and the remaining $0.3 million represented a working capital adjustment paid in July 2019. Petersen is a leading designer, manufacturer and installer of architecturally-specified, engineered metal products and railings, including aluminum and stainless steel railings products for interior and exterior applications. The excess of the purchase price over the fair value of the identifiable assets acquired was $6.1 million allocated to goodwill, which will be deductible for income tax purposes. Goodwill represents the value expected to be obtained from enabling geographic, end market and product diversification and expansion as Petersen is a strategic complement to our existing line of architecturally-specified building products. The allocation of the fair value of the net assets acquired included customer lists of $3.2 million and backlog of $0.4 million, as well as accounts receivable, inventory and equipment of $2.2 million, $0.8 million and $0.7 million, respectively, net of current liabilities of $1.5 million. Customer lists are being amortized over 15 years, backlog is amortized over 1.5 years and goodwill is not being amortized. Petersen activity has been included in our Engineered Building Solutions segment since the acquisition date. No proforma information has been provided due to immateriality.

Consolidation of Variable Inter

Consolidation of Variable Interest Entity and Redeemable Noncontrolling Interest	12 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Consolidation of Variable Interest Entity and Redeemable Noncontrolling Interest	CONSOLIDATION OF VARIABLE INTEREST ENTITY AND REDEEMABLE NONCONTROLLING INTEREST Whitmore Joint Venture On April 1, 2021, Whitmore Manufacturing, LLC (“Whitmore”), a wholly-owned subsidiary of CSWI, completed the formation of a joint venture (the "Whitmore JV") with Pennzoil-Quaker State Company dba SOPUS Products (“Shell”), a wholly-owned subsidiary of Shell Oil Company that comprises Shell’s U.S. lubricants business. The formation was consummated through a transaction in which Whitmore sold to Shell a 50% interest in a wholly-owned subsidiary (containing certain existing operating assets) in exchange for consideration of $13.4 million from Shell in the form of cash ($5.3 million) and intangible assets ($8.1 million). The Whitmore JV has been consolidated into the operations of the Company and its activity has been included in our Specialized Reliability Solutions segment since the formation date. The Whitmore JV is deemed to be a VIE as the equity investors at risk, as a group, lack the characteristics of a controlling financial interest. The major factor that led to the conclusion that the Company is the primary beneficiary of this VIE is that Whitmore has the power to direct the manufacturing activities, which are considered the most significant activities for the Whitmore JV. Whitmore JV's total net assets are presented below (in thousands): March 31, 2022 Cash $ 5,505 Accounts receivable, net 7,653 Inventories, net 1,663 Prepaid expenses and other current assets 6 Property, plant and equipment, net 7,014 Intangible assets, net 7,288 Other assets 121 Total assets $ 29,250 Accounts payable $ 5,401 Accrued and other current liabilities 1,306 Other long-term liabilities 51 Total liabilities $ 6,758 For the year ended March 31, 2022, the Whitmore JV generated net income of $1.9 million. The Whitmore JV's LLC Agreement contains a put option that gives either member the right to sell its 50% equity interest in the Whitmore JV to the other member at a dollar amount equivalent to 90% of the initiating member's equity interest determined based on the fair market value of the Whitmore JV's net assets. This put option can be exercised, at either member's discretion, by providing written notice to the other member after three years from the Whitmore JV's formation, subject to certain timing restrictions. This redeemable noncontrolling interest is recorded at the higher of the redemption value or carrying value each reporting period. Changes in redeemable noncontrolling interest for the year ended March 31, 2022 were as follows (in thousands): Balance at March 31, 2021 $ — Fair value of redeemable noncontrolling interest at formation-date 13,391 Net income attributable to redeemable noncontrolling interest 934 Contributions from noncontrolling interest 1,000 Adjustments to redemption value — Balance at March 31, 2022 $ 15,325

Discontinued Operations

Discontinued Operations	12 Months Ended
	Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	DISCONTINUED OPERATIONS During the third quarter of the fiscal year ended March 31, 2018, we committed to a plan to divest our Strathmore Products business (the "Coatings business") to allow us to focus resources on our core growth platforms. Our former Coatings business manufactured specialized industrial coatings products including urethanes, epoxies, acrylics and alkyds. As a result, we reclassified the assets comprising that business to assets held-for-sale, and made a corresponding adjustment to our consolidated statements of operations to reflect discontinued operations for all periods presented. During the quarter ended September 30, 2018, we received an aggregate of $6.9 million for the sale of assets that related to our Coatings business in multiple transactions. This resulted in gains on disposal of $6.9 million due to write-downs of long-lived assets in prior periods. During the quarter ended March 31, 2020, we received $1.5 million for the sale of the last remaining real property owned by our former Coatings business. The sale resulted in proceeds and a gain on disposal of $1.5 million due to write-downs of long-lived assets in prior periods. The last remaining asset of the Coatings business is a long-term lease that expires in March 2027. We have not terminated the lease, but we have sub-let the property for the remainder of the lease term. As such, this lease has been moved back into continuing operations, effective March 31, 2020, and the related ROU assets and lease liabilities have been reported as continuing operations since March 31, 2020. The discontinued operations have had no activities since the year ended March 31, 2020. The assets and liabilities of the Coatings business reside in a disregarded entity for tax purposes. Accordingly, the tax attributes associated with the operations of our Coatings business will ultimately flow through to the corporate parent, which files a consolidated federal return. Therefore, any corresponding tax assets or liabilities have been reflected as a component of our continuing operations. Discontinued operations reported no assets or liabilities as of March 31, 2022 and 2021, respectively, in the consolidated balance sheets. Summarized selected financial information for the Coatings business for the years ended March 31, 2022, 2021 and 2020, is presented in the following table (in thousands): Year Ended March 31, 2022 2021 2020 Revenues, net $ — $ — $ — Gain from discontinued operations before income taxes — — 1,326 Income tax expense — — (265) Gain from discontinued operations $ — $ — $ 1,061

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 During the three months ended June 30, 2021, we revised our segment structure creating three reportable segments: Contractor Solutions, Engineered Building Solutions and Specialized Reliability Solutions. Refer to Note 1 and Note 21 for additional information on the Company's segment realignment. As part of our segment realignment, we changed our reporting units and reallocated existing goodwill to each of the new reportable segments and associated reporting units, based on management's estimate of the relative fair value of each reporting unit. The result of this reallocation of goodwill has been recast, by reportable segment, as of March 31, 2021. In conjunction with the goodwill reallocation described above, during the three months ended June 30, 2021, we performed an impairment test of goodwill held by all reporting units as of March 31, 2021. Based on the results of the goodwill assessment, we determined that the fair values of each reporting unit exceeded its carrying value. As such, we concluded that there was no indication of goodwill impairment for all reporting units in connection with the segment changes. The changes in the carrying amount of goodwill for the years ended March 31, 2022 and 2021 were as follows (in thousands): Contractor Solutions Engineered Building Solutions Specialized Reliability Solutions Total Balance at April 1, 2020 $ 43,610 $ 21,237 $ 26,840 $ 91,687 TRUaire acquisition 125,554 — — 125,554 Currency translation 181 1,001 372 1,554 Balance at March 31, 2021 $ 169,345 $ 22,238 $ 27,212 $ 218,795 Goodwill re-allocation 14,813 2,727 (17,540) — TRUaire acquisition (2,099) — — (2,099) Shoemaker acquisition 8,115 — — 8,115 Currency translation (22) 42 (173) (153) Balance at March 31, 2022 $ 190,152 $ 25,007 $ 9,499 $ 224,658 The following table provides information about our intangible assets for the years ended March 31, 2022 and 2021 (in thousands, except years): March 31, 2022 March 31, 2021 Wtd Avg Life (Years) Ending Gross Amount Accumulated Amortization Ending Gross Amount Accumulated Amortization Finite-lived intangible assets: Patents 11 $ 9,417 $ (8,065) $ 9,461 $ (7,540) Customer lists and amortized trademarks 14 297,909 (61,368) 267,096 (42,345) Non-compete agreements 5 939 (258) 982 (790) Other 8 5,123 (3,957) 4,743 (3,141) $ 313,388 $ (73,648) $ 282,282 $ (53,816) Trade names and trademarks not being amortized: $ 61,097 $ — $ 54,594 $ — Amortization expense for the years ended March 31, 2022, 2021 and 2020 was $24.8 million (including the amortization of inventory purchase accounting adjustment of $3.9 million), $10.5 million and $6.7 million, respectively. The following table presents the estimated future amortization of finite-lived intangible assets for the next five fiscal years ending March 31 (in thousands): 2023 $ 18,877 2024 18,403 2025 17,668 2026 17,062 2027 16,294 Thereafter 151,436 Total $ 239,740

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Share-Based Compensation	SHARE-BASED COMPENSATION We maintain the shareholder-approved 2015 Equity and Incentive Compensation Plan (the “2015 Plan”), which provides for the issuance of up to 1,230,000 shares of CSWI common stock through the grant of stock options, stock appreciation rights, restricted shares, restricted stock units, performance shares, performance units or other share-based awards, to employees, officers and non-employee directors. As of March 31, 2022, 512,782 shares were available for issuance under the 2015 Plan. We recorded share-based compensation expense for restricted stock as follows for the years ended March 31, 2022, 2021 and 2020 (in thousands): Year Ended March 31, 2022 2021 2020 Share-based compensation expense $ 8,450 $ 5,085 $ 5,074 Related income tax benefit (2,197) (1,220) (1,218) Net share-based compensation expense $ 6,253 $ 3,865 $ 3,856 Stock option activity, which represents outstanding CSWI awards resulting from the conversion of Capital Southwest stock options held by former Capital Southwest employees, was as follows: Year Ended March 31, 2022 Number of Shares Weighted Average Exercise Price Remaining Contractual Life (Years) Aggregate Intrinsic Value (in Millions) Outstanding at April 1, 2021 63,413 $ 25.23 Exercised (52,613) 25.23 Outstanding at March 31, 2022 (a) 10,800 $ 25.23 2.4 $ 1.0 Exercisable at March 31, 2022 (a) 10,800 $ 25.23 2.4 $ 1.0 (a) All remaining awards outstanding and exercisable at March 31, 2022 are held by employees of CSWI. Year Ended March 31, 2021 Number of Shares Weighted Average Exercise Price Remaining Contractual Life (Years) Aggregate Intrinsic Value (in Millions) Outstanding at April 1, 2020 115,858 $ 25.30 Exercised (52,445) 25.40 Outstanding at March 31, 2021 63,413 $ 25.23 3.4 $ 7.0 Exercisable at March 31, 2021 63,413 $ 25.23 3.4 $ 7.0 No options were granted or vested during the years ended March 31, 2022, 2021 and 2020, and all stock options were vested and recognized prior to the year ended March 31, 2020. The intrinsic value of options exercised during the years ended March 31, 2022, 2021 and 2020 was $5.8 million, $2.5 million and $5.6 million, respectively. Cash received for options exercised during the years ended March 31, 2022, 2021 and 2020 was $1.3 million, $1.3 million and $2.9 million, respectively, and the tax benefit received was $1.4 million, $0.4 million and $1.2 million, respectively. Restricted stock activity was as follows: Year Ended March 31, 2022 Number of Shares Weighted Average Grant Date Fair Value Outstanding at April 1, 2021 172,916 $ 70.50 Granted 164,864 161.00 Vested (106,929) 63.44 Canceled (2,520) 90.60 Outstanding at March 31, 2022 228,331 $ 126.02 During the three months ended June 30, 2021, Joe Armes, the Company's Chairman, Chief Executive Officer and President, was awarded special long-term incentive awards with the purpose of retaining him through retirement and promoting successful succession planning and transition practices. Mr. Armes' awards include 31,496 shares of restricted stock, 27,559 performance shares and 19,685 performance restricted stock units. All awards granted to Mr. Armes are included in the above restricted share activity. During the restriction period, the holders of restricted shares are entitled to vote and receive dividends. Unvested restricted shares outstanding as of March 31, 2022 and 2021 included 102,360 and 82,728 shares (at target), respectively, with performance-based vesting provisions, having vesting ranges from 0-200% based on pre-defined performance targets with market conditions. Performance-based awards accrue dividend equivalents, which are settled upon (and to the extent of) vesting of the underlying award, and do not have the right to vote until vested. Performance-based awards are earned upon the achievement of objective performance targets and are payable in common shares. Compensation expense is calculated based on the fair market value as determined by a Monte Carlo simulation and is recognized over a 36-month cliff vesting period. We granted 47,845 and 34,245 awards with performance-based vesting provisions during the years ended March 31, 2022 and 2021, respectively, with a vesting range of 0-200%. At March 31, 2022, we had unrecognized compensation cost related to unvested restricted shares of $20.1 million, which will be amortized into net income over the remaining weighted average vesting period of 3.4 years. The total fair value of restricted shares vested during the years ended March 31, 2022 and 2021 was $14.2 million and $8.5 million, respectively.

Inventory

Inventory	12 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Inventory	INVENTORY Inventories are stated at the lower of cost or net realizable value. In connection with the integration of TRUaire and the Whitmore JV, the Company voluntarily changed its method of accounting for certain domestic inventory previously valued by the LIFO method to the FIFO method during the fourth quarter of fiscal 2022. The cumulative effect of this change on periods presented prior to fiscal 2020 resulted in an increase in Retained earnings of $3.8 million at March 31, 2019. The FIFO method of accounting for inventory is preferable because it improves the Company's comparability with the industry peers, the majority of which use the FIFO method as the primary inventory valuation method, conforms the Company's entire inventory to a single method of accounting and aligns the inventory cost flow assumption with the physical flow of goods. The Inventories, net caption in the Consolidated Balance Sheet is comprised of the following components: March 31, 2022 2021* Raw materials and supplies $ 46,136 $ 27,416 Work in process 7,471 6,365 Finished goods 100,792 72,452 Total inventories 154,399 106,233 Less: Obsolescence reserve (4,285) (3,582) Inventories, net $ 150,114 $ 102,651 *Year ended March 31, 2021 amounts have been revised to reflect the change in inventory accounting method, as described above and in Note 1 to the consolidated financial statements. As a result of the retrospective application of this change in accounting method, the following financial statement line items within the accompanying financial statements were adjusted, as follows: Fiscal Year Ended March 31, 2022 (in thousands, except for per share amounts) As Computed Under LIFO As Reported Under FIFO Effect of Change Consolidated Statement of Operations Cost of sales $ 373,194 $ 370,473 $ (2,721) Income before income taxes 88,744 91,465 2,721 Income tax expense 23,426 24,146 720 Net income 65,318 67,319 2,001 Income attributable to redeemable noncontrolling interest (1,073) (934) 139 Net income attributable to CSW Industrials, Inc. 64,245 66,385 2,140 Earnings per share attributable to CSW Industrials, Inc. Basic $ 4.08 $ 4.21 $ 0.13 Diluted 4.06 4.20 0.14 Consolidated Statements of Comprehensive Income Net income $ 65,318 $ 67,319 $ 2,001 Comprehensive income attributable to redeemable noncontrolling interest (1,073) (934) 139 Total comprehensive income attributable to CSW Industrials, Inc. 65,167 67,307 2,140 Fiscal Year Ended March 31, 2021 (in thousands, except for per share amounts) As Previously Reported Under LIFO As Reported Under FIFO Effect of Change Consolidated Statement of Operations Cost of sales $ 234,405 $ 234,655 $ 250 Income before income taxes 51,118 50,868 (250) Income tax expense 10,830 10,769 (61) Net income 40,287 40,099 (188) Net income attributable to CSW Industrials, Inc. 40,287 40,099 (188) Earnings per share attributable to CSW Industrials, Inc. Basic $ 2.68 $ 2.67 $ (0.01) Diluted 2.66 2.65 (0.01) Consolidated Statements of Comprehensive Income Net income $ 40,287 $ 40,099 $ (188) Total comprehensive income attributable to CSW Industrials, Inc. 45,738 45,549 (189) Fiscal Year Ended March 31, 2020 (in thousands, except for per share amounts) As Previously Reported Under LIFO As Reported Under FIFO Effect of Change Consolidated Statement of Operations Cost of sales $ 208,821 $ 209,034 $ 213 Income before income taxes 57,601 57,388 (213) Income tax expense 12,784 12,732 (52) Net income 45,877 45,717 (160) Net income attributable to CSW Industrials, Inc. 45,877 45,717 (160) Earnings per share attributable to CSW Industrials, Inc. Basic $ 3.05 $ 3.04 $ (0.01) Diluted 3.02 3.01 (0.01) Consolidated Statements of Comprehensive Income Net income $ 45,877 $ 45,717 $ (160) Total comprehensive income attributable to CSW Industrials, Inc. 45,160 45,000 (160) Fiscal Year Ended March 31, 2022 (in thousands, except for per share amounts) As Computed Under LIFO As Reported Under FIFO Effect of Change Consolidated Balance Sheets Inventories, net $ 142,828 $ 150,114 $ 7,286 Deferred tax liabilities 60,962 62,810 1,848 Redeemable noncontrolling interest 15,464 15,325 (139) Retained earnings 401,945 407,522 5,577 Consolidated Statement of Cash Flows Net income $ 65,318 $ 67,319 $ 2,001 Deferred income taxes (3,981) (3,261) 720 Provision for inventory reserves 4,274 1,553 (2,721) Fiscal Year Ended March 31, 2021 (in thousands, except for per share amounts) As Previously Reported Under LIFO As Reported Under FIFO Effect of Change Consolidated Balance Sheets Inventories, net $ 98,086 $ 102,651 $ 4,565 Deferred tax liabilities 66,052 67,180 1,128 Retained earnings 347,234 350,670 3,436 Consolidated Statement of Cash Flows Net income $ 40,287 $ 40,099 $ (188) Deferred income taxes (1,737) (1,798) (61) Provision for inventory reserves 1,308 1,558 250 Fiscal Year Ended March 31, 2020 (in thousands, except for per share amounts) As Previously Reported Under LIFO As Reported Under FIFO Effect of Change Consolidated Balance Sheets Inventories, net $ 53,753 $ 58,567 $ 4,814 Deferred tax liabilities 3,848 5,037 1,189 Retained earnings 315,078 318,703 3,625 Consolidated Statement of Cash Flows Net income $ 45,877 $ 45,717 $ (160) Deferred income taxes 537 486 (51) Provision for inventory reserves (28) 184 212 As a result of the retrospective application of this change in accounting principle, the following financial statement line items within the unaudited quarterly condensed consolidated financial statements for fiscal 2022 and 2021 were adjusted, as follows: Three Months Ended June 30, 2021 June 30, 2020 (in thousands, except for per share amounts) As Previously Reported Under LIFO As Reported Under FIFO Effect of Change As Previously Reported Under LIFO As Reported Under FIFO Effect of Change Consolidated Statement of Operations Cost of sales $ 92,668 $ 92,240 $ (428) $ 48,211 $ 48,355 $ 144 Income before income taxes 26,765 27,193 428 15,628 15,484 (144) Income tax expense 6,401 6,507 106 3,668 3,633 (35) Net income 20,363 20,686 323 11,960 11,852 (108) Income attributable to redeemable noncontrolling interest (315) (224) 91 — — — Net income attributable to CSW Industrials, Inc. 20,048 20,462 414 11,960 11,852 (108) Earnings per share attributable to CSW Industrials, Inc. Basic $ 1.28 $ 1.30 $ 0.02 $ 0.81 $ 0.81 $ — Diluted 1.27 1.30 0.03 0.81 0.80 (0.01) Three Months Ended September 30, 2021 September 30, 2020 (in thousands, except for per share amounts) As Previously Reported Under LIFO As Reported Under FIFO Effect of Change As Previously Reported Under LIFO As Reported Under FIFO Effect of Change Consolidated Statement of Operations Cost of sales $ 92,533 $ 92,333 $ (200) $ 56,204 $ 56,629 $ 425 Income before income taxes 24,329 24,529 200 21,536 21,111 (425) Income tax expense 6,121 6,170 49 5,182 5,078 (104) Net income 18,208 18,359 151 16,353 16,033 (320) Income attributable to redeemable noncontrolling interest (212) (188) 24 — — — Net income attributable to CSW Industrials, Inc. 17,995 18,171 176 16,353 16,033 (320) Earnings per share attributable to CSW Industrials, Inc. Basic $ 1.14 $ 1.15 $ 0.01 $ 1.11 $ 1.09 $ (0.02) Diluted 1.14 1.15 0.01 1.10 1.08 (0.02) Three Months Ended December 31, 2021 December 31, 2020 (in thousands, except for per share amounts) As Previously Reported Under LIFO As Reported Under FIFO Effect of Change As Previously Reported Under LIFO As Reported Under FIFO Effect of Change Consolidated Statement of Income Cost of sales $ 86,244 $ 84,943 $ (1,301) $ 50,594 $ 51,240 $ 646 Income before income taxes 10,837 12,139 1,302 3,056 2,410 (646) Income tax expense 2,068 2,389 321 709 550 (159) Net income 8,769 9,750 981 2,346 1,859 (487) Income attributable to redeemable noncontrolling interest (458) (444) 14 — — — Net income attributable to CSW Industrials, Inc. 8,311 9,306 995 2,346 1,859 (487) Earnings per share attributable to CSW Industrials, Inc. Basic $ 0.53 $ 0.59 $ 0.06 $ 0.16 $ 0.12 $ (0.04) Diluted 0.52 0.59 0.07 0.16 0.12 (0.04) Three Months Ended March 31, 2022 March 31, 2021 (in thousands, except for per share amounts) As Computed Under LIFO As Reported Under FIFO Effect of Change As Previously Reported Under LIFO As Reported Under FIFO Effect of Change Consolidated Statement of Income Cost of sales $ 101,749 $ 100,957 $ (792) $ 79,396 $ 78,430 $ (966) Income before income taxes 26,813 27,605 792 10,898 11,864 966 Income tax expense 8,835 9,080 245 1,270 1,507 237 Net income 17,979 18,525 546 9,628 10,356 728 Income attributable to redeemable noncontrolling interest (88) (79) 9 — — — Net income attributable to CSW Industrials, Inc. 17,891 18,446 555 9,628 10,356 728 Earnings per share attributable to CSW Industrials, Inc. Basic $ 1.13 $ 1.17 $ 0.04 $ 0.62 $ 0.66 $ 0.04 Diluted 1.13 1.17 0.04 0.61 0.66 0.05

Details of Certain Consolidated

Details of Certain Consolidated Balance Sheet Captions	12 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Details of Certain Consolidated Balance Sheet Captions	DETAILS OF CERTAIN CONSOLIDATED BALANCE SHEET CAPTIONS Accounts receivable, net consists of the following (in thousands): March 31, 2022 2021 Accounts receivable trade $ 120,603 $ 93,366 Other receivables 3,378 4,244 123,981 97,610 Less: Allowance for doubtful accounts (1,177) (915) Accounts receivable, net $ 122,804 $ 96,695 Property, plant and equipment, net , consist of the following (in thousands): March 31, 2022 2021 Land and improvements $ 3,226 $ 3,168 Buildings and improvements 53,346 53,020 Plant, office and laboratory equipment 99,770 95,848 Construction in progress 11,083 3,462 167,425 155,498 Less: Accumulated depreciation (80,393) (72,944) Property, plant and equipment, net $ 87,032 $ 82,554 Depreciation of property, plant and equipment was $11.6 million, $9.2 million and $7.9 million for the years ended March 31, 2022, 2021 and 2020, respectively. Of these amounts, cost of revenues includes $8.3 million, $7.1 million and $6.6 million, respectively. Other assets consist of the following (in thousands): March 31, 2022 2021 Right-of-use lease assets $ 67,076 $ 61,707 Property held for investment (a) 418 967 Deferred income taxes 304 1,462 Long-term tax indemnification assets 7,500 7,500 Other 7,388 4,359 Other assets $ 82,686 $ 75,995 (a) As of March 31, 2021, $0.5 million asset was held for sale in the "Elimination and Other" segment. This asset was reclassified to other current asset during the year ended March 31, 2022. Accrued and other current liabilities consist of the following (in thousands): March 31, 2022 2021 Compensation and related benefits $ 21,617 $ 19,120 Rebates and marketing agreements 16,340 9,031 Operating lease liabilities 9,269 8,063 Billings in excess of costs 1,026 1,018 Non-income taxes 1,949 1,593 Income taxes payable 4,266 3,755 Other accrued expenses 14,538 7,163 Accrued and other current liabilities $ 69,005 $ 49,743 Other long-term liabilities consists of the following (in thousands): March 31, 2022 2021* Operating lease liabilities $ 63,275 $ 56,709 Deferred income taxes 62,810 67,180 Tax Reserve 13,987 13,228 Other 234 736 Other long-term liabilities $ 140,306 $ 137,853 *Years ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Long-Term Debt and Commitments

Long-Term Debt and Commitments	12 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-Term Debt and Commitments	LONG-TERM DEBT AND COMMITMENTS Debt consists of the following (in thousands): March 31, 2022 2021 Revolving Credit Facility, interest rate of 1.95% and 2.11%, respectively $ 243,000 $ 232,000 Whitmore term loan, interest rate of 2.45% and 2.11%, respectively 9,775 10,337 Total debt 252,775 242,337 Less: Current portion (561) (561) Long-term debt $ 252,214 $ 241,776 Revolving Credit Facility Agreement On December 11, 2015, we entered into a five-year $250.0 million Revolving Credit Facility agreement (“Revolving Credit Facility”), with an additional $50.0 million accordion feature, with JPMorgan Chase Bank, N.A., as administrative agent, and the other lenders party thereto. The agreement was amended on September 15, 2017 to allow for multi-currency borrowing with a $125.0 million sublimit and to extend the maturity date to September 15, 2022. On December 1, 2020, the Company entered into an amendment to the Revolving Credit Facility to utilize the accordion feature, thus increasing the commitment from $250.0 million to $300.0 million, and hence eliminating the available incremental commitment by a corresponding amount. On March 10, 2021, the Revolving Credit Facility was amended to facilitate the formation and future operation of the joint venture discussed in Note 3. On May 18, 2021, we entered into a Second Amended and Restated Credit Agreement (the “Second Credit Agreement”) with JPMorgan Chase Bank, N.A., as administrative agent and collateral agent, and the lenders, issuing banks and swingline lender party thereto. CSW Industrials Holdings, LLC, a wholly-owned subsidiary of the Company (the “Borrower”) is the borrower under the Second Credit Agreement. The Second Credit Agreement provides for a $400.0 million Revolving Credit Facility that contains a $25.0 million sublimit for the issuance of letters of credit and a $10.0 million sublimit for swingline loans. The Second Credit Agreement is scheduled to mature on May 18, 2026. Borrowings under the Second Credit Agreement may be used for working capital and general corporate purposes, including, without limitation, for financing permitted acquisitions and fees and expenses incurred in connection therewith. The obligations of the Borrower under the Second Credit Agreement are guaranteed by the Company and all of its direct and indirect domestic subsidiaries. The Second Credit Agreement is secured by a first priority lien on all tangible and intangible assets and stock issued by the Borrower and its domestic subsidiaries, subject to specified exceptions, and 65% of the voting equity interests in its first-tier foreign subsidiaries. The financial covenants contained in the Second Credit Agreement require the maintenance of a maximum Leverage Ratio of 3.00 to 1.00, subject to a temporary increase to 3.75 to 1.00 for 18 months following the consummation of permitted acquisitions with consideration in excess of certain threshold amounts set forth in the Second Credit Agreement, and the maintenance of a minimum Fixed Charge Coverage Ratio of 1.25 to 1.00, the calculations and terms of which are defined in the Second Credit Agreement. The Second Credit Agreement also contains (i) affirmative and negative covenants which are customary for similar credit agreements, including, without limitation, limitations on the Company, the Borrower and its subsidiaries with respect to indebtedness, liens, investments, distributions, mergers and acquisitions, disposition of assets and transactions with affiliates, and (ii) customary events of default. Borrowings under the Second Credit Agreement bear interest, at the Borrower’s option, at either base rate or LIBOR, plus, in either case, an applicable margin based on the Company’s leverage ratio calculated on a quarterly basis. The base rate is described in the Second Credit Agreement as the highest of (i) the Federal funds effective rate plus 0.50%, (ii) the prime rate quoted by The Wall Street Journal, and (iii) the one-month LIBOR rate plus 1.00%. We also pay a commitment fee of an applicable margin based on the Company's leverage ratio for the unutilized portion of the Revolving Credit Facility. Interest and commitment fees are payable at least quarterly and the outstanding principal balance is due at the maturity date. As of March 31, 2022 and 2021, we had $243.0 million and $232.0 million, respectively, in outstanding borrowings under the Facility, which resulted in a borrowing capacity of $157.0 million and $68.0 million, respectively, inclusive of the accordion feature. Covenant compliance is tested quarterly and we were in compliance with all covenants as of March 31, 2022. Whitmore Term Loan As of March 31, 2022, Whitmore Manufacturing, LLC (one of our wholly-owned operating subsidiaries) maintained a secured term loan related to the warehouse, corporate office building and remodel of the existing manufacturing and R&D facility. The term loan matures on July 31, 2029, with payments of $140,000 due each quarter. Borrowings under the term loan bear interest at a variable annual rate equal to one-month LIBOR plus 2.0%. As of March 31, 2022 and 2021, Whitmore had $9.8 million and $10.3 million, respectively, in outstanding borrowings under the term loan. Interest payments under the Whitmore term loan are hedged under an interest rate swap agreement as described in Note 11. Future Minimum Debt Payments Future minimum debt payments are as follows for years ending March 31 (in thousands): 2023 $ 561 2024 561 2025 561 2026 561 2027 243,561 Thereafter 6,970 Total $ 252,775

Leases

Leases	12 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	LEASES We have operating leases for manufacturing facilities, offices, warehouses, vehicles and certain equipment. Our leases have remaining lease terms of 1 year to 26 years, some of which include escalation clauses and/or options to extend or terminate the leases. In October 2019, we terminated two operating leases and paid an early lease termination fee of $0.5 million. The loss on early termination is recorded in other income (expense), net as the leased properties were not used in our operations. We do not currently have any financing lease arrangements. (in thousands) March 31, 2022 March 31, 2021 Components of Operating Lease Expenses Operating lease expense $ 9,893 $ 5,243 Short-term lease expense 326 377 Total operating lease expense (a) $ 10,219 $ 5,620 (a) Included in cost of revenues and selling, general and administrative expense (in thousands) March 31, 2022 March 31, 2021 Operating Lease Assets and Liabilities ROU assets, net (a) $ 67,076 $ 61,707 Short-term lease liabilities $ 9,269 $ 8,063 Long-term lease liabilities 63,275 56,709 Total operating lease liabilities (b) $ 72,544 $ 64,772 (a) Included in other assets (b) Included in accrued and other current liabilities and other long-term liabilities, as applicable (in thousands) March 31, 2022 March 31, 2021 Supplemental Cash Flow Cash paid for amounts included in the measurement of operating lease liabilities (a) $ 9,974 $ 5,578 ROU assets obtained in exchange for new operating lease obligations 8,464 114 (a) Included in our condensed consolidated statement of cash flows, operating activities in accounts payable and other current liabilities Other Information for Operating Leases Weighted average remaining lease term (in years) 7.9 8.2 Weighted average discount rate (percent) 2.2 % 2.6 % Maturities of operating lease liabilities were as follows (in thousands): (in thousands) 2023 $ 10,723 2024 10,640 2025 10,465 2026 10,142 2027 9,920 Thereafter 27,324 Total lease liabilities $ 79,214 Less: Imputed interest (6,670) Present value of lease liabilities $ 72,544

Derivative Instruments and Hedg

Derivative Instruments and Hedge Accounting	12 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedge Accounting	DERIVATIVE INSTRUMENTS AND HEDGE ACCOUNTING We enter into interest rate swap agreements to hedge exposure to floating interest rates on certain portions of our debt. As of March 31, 2022 and 2021, we had $9.8 million and $10.3 million, respectively, of notional amount in outstanding designated interest rate swaps with third parties. All interest rate swaps are highly effective. At March 31, 2022, the maximum remaining length of any interest rate swap contract in place was approximately 7.3 years. The fair value of interest rate swaps designated as hedging instruments are summarized below (in thousands): March 31, 2022 2021 Current derivative liabilities $ 109 $ 280 Non-current derivative liabilities 233 736 The impact of changes in the fair value of interest rate swaps is included in Note 19.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE The following table sets forth the reconciliation of the numerator and the denominator of basic and diluted earnings per share for the years ended March 31, 2022, 2021 and 2020: March 31, (amounts in thousands, except per share data) 2022 2021* 2020* Income from continuing operations $ 67,319 $ 40,099 $ 44,656 Income from discontinued operations, net of tax — — 1,061 Income attributable to redeemable noncontrolling interest (934) — — Net income attributable to CSW Industrials, Inc. $ 66,385 $ 40,099 $ 45,717 Weighted average shares: Common stock 15,646 14,919 14,928 Participating securities 109 96 111 Denominator for basic earnings per common share 15,755 15,015 15,039 Potentially dilutive securities 52 111 167 Denominator for diluted earnings per common share 15,807 15,126 15,206 Basic earnings per common share: Continuing operations $ 4.21 $ 2.67 $ 2.97 Discontinued operations — — 0.07 Net income attributable to CSW Industrials, Inc. $ 4.21 $ 2.67 $ 3.04 Diluted earnings per common share: Continuing operations $ 4.20 $ 2.65 $ 2.94 Discontinued operations — — 0.07 Net income attributable to CSW Industrials, Inc. $ 4.20 $ 2.65 $ 3.01 *Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Shareholders' Equity	SHAREHOLDERS' EQUITY Share Repurchase Programs On November 7, 2018, we announced that our Board of Directors authorized a program to repurchase up to $75.0 million of our common stock over a two-year time period. On October 30, 2020, we announced that our Board of Directors authorized a new program to repurchase up to $100.0 million of our common stock, which replaced the previously announced $75.0 million program. Under the current repurchase program, shares may be repurchased from time to time in the open market or in privately negotiated transactions. Repurchases will be made at our discretion, based on ongoing assessments of the capital needs of the business, the market price of our common stock and general market conditions. Our Board of Directors has established an expiration of December 31, 2022 for completion of the new repurchase program; however, the program may be limited or terminated at any time at our discretion without notice. During the year ended March 31, 2022, we repurchased 126,115 shares for an aggregate amount of $14.4 million under the current repurchase program. During the year ended March 31, 2021, we repurchased 115,151 shares for an aggregate amount of $7.3 million under the prior $75.0 million program.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS The fair value of interest rate swaps discussed in Note 11 are determined using Level II inputs. The carrying value of our debt, included in Note 9, approximates fair value as it bears interest at floating rates. The carrying amounts of other financial instruments (i.e., cash and cash equivalents, accounts receivable, net, accounts payable) approximated their fair values at March 31, 2022 and 2021 due to their short-term nature. The redeemable noncontrolling interest is recorded at the higher of the redemption value or carrying value each reporting period. The redemption value of the redeemable noncontrolling interest is estimated using a discounted cash flow analysis, which requires management judgment with respect to future revenue, operating margins, growth rates and discount rates and is classified as Level III under the fair value hierarchy. The redemption value of the redeemable noncontrolling interest is discussed in Note 3.

Retirement Plans

Retirement Plans	12 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
Retirement Plans	RETIREMENT PLANS We had a frozen qualified defined benefit pension plan (the “Qualified Plan”) that covered certain of our U.S. employees. The Qualified Plan was previously closed to employees hired or re-hired on or after January 1, 2015, and it was amended to freeze benefit accruals and to modify certain ancillary benefits effective as of September 30, 2015. Benefits were based on years of service and an average of the highest five We maintain a frozen unfunded retirement restoration plan (the “Restoration Plan”) that is a non-qualified plan providing for the payment to participating employees, upon retirement, of the difference between the maximum annual payment permissible under the Qualified Plan pursuant to federal limitations and the amount that would otherwise have been payable under the Qualified Plan. The Restoration Plan was closed to new participants on January 1, 2015 and was amended to freeze benefit accruals and to modify certain ancillary benefits effective as of September 30, 2015. We maintain a registered defined benefit pension plan (the "Canadian Plan") that covers all of our employees based at our facility in Alberta, Canada. The plan was amended to freeze benefit accruals effective as of January 31, 2022. Employees were eligible for membership in the plan following the completion of one year of employment. Benefits accrued to eligible employees based on years of service and an average of the highest 60 consecutive months of compensation during the last 10 consecutive years of employment. Benefit eligibility typically occurs upon the first day of the month following an eligible employee’s reaching age 65, and plan benefits are typically paid monthly in advance for the lifetime of the participant. The plans described above (collectively, the "Plans") are presented in aggregate as the impact of the Restoration Plan and Canadian Plan to our consolidated financial position and results of operations is not material. The following are assumptions related to the Plans: March 31, 2022 2021 2020 Assumptions used to determine benefit obligations: Discount rate 4.0 % 3.3 % 3.6 % Rate of compensation increases (a) — % 3.0 % 3.0 % Assumptions used to determine net pension expense: Discount rate 3.3 % 3.6 % 4.0 % Expected return on plan assets 4.8 % 4.8 % 4.8 % Rate of compensation increases (b) 3.0 % 3.0 % 3.0 % (a) Rate of compensation increase is not relevant to the Restoration Plan and the Canadian Plan due to freezing benefit accruals. (b) Rate of compensation increase is no longer relevant to the Restoration Plan due to freezing benefit accruals. Rate of compensation increase of $3.0% was used to determine the fiscal 2022 expenses for the Canadian Plan. The factors used in determination of these assumptions are described in Note 1. Net pension (benefit) expense for the Plans was: Year Ended March 31, (in thousands) 2022 2021 2020 Service cost – benefits earned during the year $ 43 $ 40 $ 71 Interest cost on projected benefit obligation 138 144 1,136 Expected return on assets (120) (96) (1,361) Net amortization and deferral 69 74 56 Pension plan termination (a) — — 6,472 Curtailment impact (30) — — Net pension expense $ 100 $ 162 $ 6,374 (a) Reflects impact of the termination of the Qualified Plan. No estimated prior service costs or net loss for the Plans will be amortized from accumulated other comprehensive loss into pension expense in the year ended March 31, 2023. The following is a summary of the changes in the Plans' pension obligations: March 31, (in thousands) 2022 2021 Benefit obligation at beginning of year $ 4,291 $ 3,880 Service cost 43 40 Interest cost 138 144 Actuarial gain (330) 212 Benefits paid (216) (265) Curtailment impact (342) — Currency translation impact 12 280 Benefit obligation at end of year $ 3,596 $ 4,291 Accumulated benefit obligation $ 3,596 $ 3,990 The following is a reconciliation of the Plans' assets: March 31, (in thousands) 2022 2021 Fair value of plan assets at beginning of year $ 2,492 $ 1,898 Actual return on plan assets (6) 441 Benefits paid (110) (159) Company contributions 79 69 Currency translation impact 11 243 Fair value of plan assets at end of year $ 2,466 $ 2,492 We contributed $0.1 million to the Canadian Plan in the year ended March 31, 2022. No contribution will be made in the year ending March 31, 2023 due to the freezing of benefits and the funded position as at March 31, 2022. The following summarizes the net pension asset for the Plans March 31, (in thousands) 2022 2021 Plan assets at fair value $ 2,466 $ 2,492 Benefit obligation (3,596) (4,291) Unfunded status $ (1,130) $ (1,799) The following summarizes amounts recognized in the balance sheets for the Plans: March 31, (in thousands) 2022 2021 Current liabilities $ (103) $ (104) Noncurrent liabilities (1,027) (1,695) Unfunded status $ (1,130) $ (1,799) The following table presents the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in the benefit obligation: March 31, (in thousands) 2022 2021 Accumulated other comprehensive loss at beginning of year $ (799) $ (871) Amortization of net loss 59 62 Amortization of prior service cost (5) (31) Curtailment impact 311 — Net gain arising during the year 154 96 Currency translation impact (86) (55) Accumulated other comprehensive loss at end of year $ (366) $ (799) Amounts recorded in accumulated other comprehensive loss consist of: March 31, (in thousands) 2022 2021 Net prior service cost $ — $ 27 Net loss (366) (826) Accumulated other comprehensive loss $ (366) $ (799) The Canadian Plan accounts for 100% of total assets, and has investments of $2.5 million primarily in high-quality fixed income securities (Level II inputs in the fair value hierarchy) that are issued by governments and corporations. The actual asset allocations for the Plans were as follows: March 31, Asset category 2022 2021 Fixed income securities 99 % — % Other — % 100 % Cash and cash equivalents 1 % — % Total 100 % 100 % The following table summarizes the expected cash benefit payments for the Plans for fiscal years ending March 31 (in millions): 2023 $ 0.2 2024 0.2 2025 0.2 2026 0.2 2027 0.2 Thereafter 1.1 Defined Contribution Plan Effective October 1, 2015, we began to sponsor a defined contribution plan covering substantially all of our U.S. employees. Employees may contribute to this plan, and these contributions are matched 100% by us up to 6.0% of eligible earnings. We also contribute an additional percentage of eligible earnings to employees regardless of their level of participation in the plan, which is discretionary and varies based on profitability. We made total contributions to the plan of $4.8 million and $3.9 million during the years ended March 31, 2022 and 2021, respectively. Employee Stock Ownership Plan We sponsor a qualified, non-leveraged employee stock ownership plan (“ESOP”) in which domestic employees are eligible to participate following the completion of one year of service. The ESOP provides annual discretionary contributions of up to the maximum amount that is deductible under the Internal Revenue Code. Contributions to the ESOP are invested in our common stock. A participant’s interest in contributions to the ESOP fully vests after three years of credited service or upon retirement, permanent disability (each, as defined in the plan document) or death. We recorded total contributions to the ESOP of $2.3 million, $3.6 million and $3.2 million during the years ended March 31, 2022, 2021 and 2020, respectively, based on performance in the prior year. During the year ended March 31, 2022, $3.0 million was recorded to expense based on performance in the year ended March 31, 2022 and is expected to be contributed to the ESOP during the year ending March 31, 2023. The ESOP held 549,863 and 628,289 shares of CSWI common stock as of March 31, 2022 and 2021, respectively.

Income Taxes

Income Taxes	12 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Income from continuing operations before income taxes was comprised of the following (in thousands): Year Ended March 31, 2022 2021* 2020* U.S. Federal $ 87,607 $ 48,142 $ 53,733 Foreign 3,858 2,726 3,655 Income before income taxes $ 91,465 $ 50,868 $ 57,388 *Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements. Income tax expense consists of the following (in thousands): For the year ended: Current Deferred Total March 31, 2022 U.S. Federal $ 20,139 $ (1,578) $ 18,561 State and local 5,271 761 6,032 Foreign 638 (1,085) (447) Provision for income taxes $ 26,048 $ (1,902) $ 24,146 March 31, 2021* U.S. Federal $ 6,773 $ (1,211) $ 5,562 State and local 3,561 (500) 3,061 Foreign 1,641 505 2,146 Provision for income taxes $ 11,975 $ (1,206) $ 10,769 March 31, 2020* U.S. Federal $ 8,466 $ 621 $ 9,087 State and local 1,999 (100) 1,899 Foreign 1,968 (222) 1,746 Provision for income taxes $ 12,433 $ 299 $ 12,732 *Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements. Income tax expense differed from the amounts computed by applying the U.S. federal statutory income tax rate of 21.0% to income from continuing operations before income taxes as a result of the following (in thousands): Year Ended March 31, 2022 2021* 2020* Computed tax expense at statutory rate $ 19,206 $ 10,674 $ 12,044 Increase (reduction) in income taxes resulting from: State and local income taxes, net of federal benefits 4,765 2,419 1,943 Nondeductible executive compensation 992 248 — Vesting of stock-based compensation (1,916) (741) (542) Amended return items (pension and foreign withholding) — — 975 IRS audit adjustments — — 502 Global intangible low-taxed income ("GILTI") inclusion and foreign-derived intangible income ("FDII") deduction (522) 440 124 Foreign rate differential 91 85 84 Uncertain tax positions 759 (4,717) (1,615) Other permanent differences (143) 1,931 (4) Foreign tax credits (450) (554) (479) Valuation allowance 379 — — Repatriation tax, net of tax credit 170 822 — Other, net 815 162 (300) Provision for income taxes continuing operations $ 24,146 $ 10,769 $ 12,732 *Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements. The effective tax rates for the years ended March 31, 2022, 2021 and 2020 were 26.4%, 21.2% and 22.2%, respectively. As compared with the statutory rate for the year ended March 31, 2022, the provision for income taxes was primarily impacted by state tax expense (net of federal benefits), which increased the provision by $4.8 million and effective rate by 5.2%, executive compensation limitation, which increased the provision by $1.0 million and the effective tax rate by 1.1% and a net increase in uncertain tax positions, which increased the provision by $0.8 million and the effective rate by 0.8%. This was offset by tax benefits related to the restricted stock vesting, which decreased the provision by $1.9 million and the effective tax rate by 2.1%. As compared with the statutory rate for the year ended March 31, 2021, the provision for income taxes was primarily impacted by the state tax expense, which increased the provision by $2.4 million and the effective rate by 4.8%, the additional non-deductible expenses, which increased the provision by $1.9 million and the effective rate by 2.1%, and the release of uncertain tax positions, which decreased the provision by $4.7 million and the effective rate by 9.3%. The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at March 31, 2022 and 2021 are presented below (in thousands): March 31, 2022 2021* Deferred tax assets: Operating lease liabilities $ 17,774 $ 14,680 Accrued compensation 4,826 3,878 Impairment 15 386 Pension and other employee benefits 412 313 Inventory reserves 3,720 1,330 Net operating loss carryforwards 145 145 Accrued expenses 1,010 244 Foreign tax credit carry-forward 379 130 State R&D credit carry-forward 75 120 Transaction Costs 714 630 Other, net 1,477 1,455 Deferred tax assets 30,547 23,311 Valuation allowance (524) (145) Deferred tax assets, net of valuation allowance 30,023 23,166 Deferred tax liabilities: Goodwill and intangible assets (64,903) (65,070) Property, plant and equipment (8,242) (7,816) Operating lease - ROU assets (16,364) (13,631) Repatriation reserve (1,034) (942) Other, net (1,986) (1,425) Deferred tax liabilities (92,529) (88,884) Net deferred tax liabilities $ (62,506) $ (65,718) *Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements. As the assets and liabilities of our discontinued Coatings business discussed in Note 4 reside in a disregarded entity for tax purposes, the tax attributes associated with the operations of our Coatings business ultimately flow through to our corporate parent, which files a consolidated federal return. Therefore, corresponding deferred tax assets or liabilities expected to be substantially realized by our corporate parent have been reflected above as assets of our continuing operations and have not been allocated to the balances of assets or liabilities of our discontinued operations disclosed in Note 4. As of both March 31, 2022 and 2021, we had no tax effected net operating loss carryforwards, net of valuation allowances. Net operating loss carryforwards will expire in periods beyond the next 5 years. Certain earnings of foreign subsidiaries continue to be permanently invested outside of the United States. The earnings related to these foreign subsidiaries for which taxes are not being provided are $16.6 million. The calculation of the taxes on these undistributed earnings are impracticable because it is unknown how these earnings would be distributed. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): March 31, 2022 2021 Balance at beginning of year $ 10,212 $ 498 Increases related to prior year tax positions — 13,895 Decreases related to prior year tax positions (314) (4,215) Increases related to current year tax positions 36 34 Balance at end of year $ 9,934 $ 10,212 During the year ended March 31, 2022, we released a $0.3 million reserve related to positions taken on tax returns for which the statute has expired, and accrued interest and penalties of $0.6 million and $0.5 million, respectively. During the year ended March 31, 2021, w e recorded total tax contingency reserves of $17.3 million, including unrecognized tax benefit of $13.6 million, accrued interest and penalty of $1.4 million and $2.3 million, respectively, through purchase accounting as a result of the TRUaire acquisition discussed in Note 2. During the three months ended March 31, 2021, a tax benefit of $5.3 million, including release of accrued interest ($0.6 million) and penalty ($0.6 million), was recognized through the income statement as a result of receiving the audit closing letter from Internal Revenue Service related to calendar 2017. F or the year ended March 31, 2021, we recorded an additional net tax contingency reserve of $0.2 million, accrued interest of $0.1 million and accrued penalty of $0.2 million.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONSWe had no related party transactions in the three years ended March 31, 2022, 2021 and 2020.

Contingencies

Contingencies	12 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Contingencies	CONTINGENCIESFrom time to time, we are involved in various claims and legal actions which arise in the ordinary course of business. There are not any matters pending that we currently believe are reasonably possible of having a material impact to our business, consolidated financial position, results of operations or cash flows.

Other Comprehensive Income (Los

Other Comprehensive Income (Loss)	12 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Other Comprehensive Income (Loss)	OTHER COMPREHENSIVE INCOME (LOSS) The following table provides an analysis of the changes in accumulated other comprehensive loss (in thousands). March 31, 2022 2021 Currency translation adjustments: Balance at beginning of period $ (4,394) $ (9,185) Foreign currency translation adjustments (44) 4,791 Balance at end of period $ (4,438) $ (4,394) Interest rate swaps: Balance at beginning of period $ (803) $ (1,390) Unrealized gain, net of taxes of $(82) and $(96), respectively (a) 309 362 Reclassification of losses included in interest expense, net of taxes of $(60) and $(60), respectively 224 225 Other comprehensive income 533 587 Balance at end of period $ (270) $ (803) Defined benefit plans: Balance at beginning of period $ (799) $ (871) Amortization of net prior service benefit, net of taxes of $1 and $8, respectively (b) (5) (31) Amortization of net loss, net of taxes of $(16) and $(16), respectively (b) 59 62 Net gain arising during the year, net of taxes of $(41) and $(26), respectively ( b) 154 96 Curtailment impact, net of taxes of $(83) and $0, respectively (b) 311 — Currency translation impact (86) (55) Other comprehensive income 433 72 Balance at end of period $ (366) $ (799) (a) Unrealized gains are reclassified to earnings as underlying cash interest payments are made. We expect to recognize a loss of less than $0.1 million, net of deferred taxes, over the next twelve months related to a designated cash flow hedge based on its fair value as of March 31, 2022. (b) Amortization of prior service costs and actuarial losses out of accumulated other comprehensive loss are included in the computation of net periodic pension expense. See Note 15 for additional information.

Revenue Recognition

Revenue Recognition	12 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	REVENUE RECOGNITION We conduct our operations in three reportable segments: Contractor Solutions, Engineered Building Solutions and Specialized Reliability Solutions. With the adoption of ASC Topic 606, we have concluded that the disaggregation of revenues that would be most useful in understanding the nature, timing and extent of revenue recognition is the breakout of build-to-order and book-and-ship, as defined below: Build-to-order products are architecturally-specified building products generally sold into the construction industry. Revenue generated from sales of products under build-to-order transactions are currently reflected in the results of our Engineered Building Solutions segment. Occasionally, our built-to-order business lines enter into arrangements for the delivery of a customer-specified product and the provision of installation services. These orders are generally negotiated as a package and are commonly subject to retainage by the customer, which means the final 10% of the transaction price, when applicable, is not collectible until the overall construction project into which our products are incorporated is complete. The lead times for transfer to the customer can be up to 12 weeks. Revenue for goods is recognized at a point in time, but installation services are recognized over time as those services are performed. Installation services represented approximately 3% of total consolidated revenue for the year ended March 31, 2022. Book-and-ship products are sold across all of our end markets. Revenue generated from sales of products under book-and-ship transactions have historically been presented in the Contractor Solutions, Engineered Building Solutions and Specialized Reliability Solutions. These sales are typically priced on a product-by-product basis using price lists provided to our customers. The lead times for transfer to the customer is usually one week or less as these items are generally built to stock. Revenue for products sold under these arrangements is recognized at a point in time. Disaggregation of revenues reconciled to our reportable segments is as follows (in thousands): Year Ended March 31, 2022 Contractor Solutions Engineered Building Solutions Specialized Reliability Solutions Total Build-to-order $ — $ 88,690 $ — $ 88,690 Book-and-ship 413,207 8,606 115,932 537,745 Net revenues $ 413,207 $ 97,296 $ 115,932 $ 626,435 Year Ended March 31, 2021 Contractor Solutions Engineered Building Solutions Specialized Reliability Solutions Total Build-to-order $ — $ 87,057 $ — $ 87,057 Book-and-ship 245,232 8,615 78,301 332,148 Net revenues $ 245,232 $ 95,672 $ 78,301 $ 419,205 Year Ended March 31, 2020 Contractor Solutions Engineered Building Solutions Specialized Reliability Solutions Total Build-to-order $ — $ 82,357 $ — $ 82,357 Book-and-ship 190,421 8,524 104,569 303,514 Net revenues $ 190,421 $ 90,881 $ 104,569 $ 385,871 Contract liabilities, which are included in accrued and other current liabilities in our consolidated balance sheets were as follows (in thousands): Balance at April 1, 2021 $ 1,018 Revenue recognized (971) New contracts and revenue added to existing contracts 979 Balance at March 31, 2022 $ 1,026

Segments

Segments	12 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segments	SEGMENTS During the quarter ended June 30, 2021, we revised our segment structure to align with how our chief operating decision maker (who was determined to be our Chief Executive Officer) views our business, assesses performance and allocates resources to our business components. Effective April 1, 2021, following the completion of various strategic transactions including the acquisition of TRUaire and the formation of the Whitmore JV, our business is organized into three reportable segments: • Contractor Solutions • Engineered Building Solutions; and • Specialized Reliability Solutions. The following is a summary of the financial information of our reporting segments reconciled to the amounts reported in the consolidated financial statements (in thousands). Year Ended March 31, 2022 (in thousands) Contractor Solutions Engineered Building Solutions Specialized Reliability Solutions Subtotal - Reportable Segments Eliminations and Other Total Revenues, net to external customers $ 413,207 $ 97,296 $ 115,932 $ 626,435 $ — $ 626,435 Intersegment revenue 3,280 — 110 3,390 (3,390) — Operating income 96,115 11,101 9,007 116,223 (18,843) 97,380 Depreciation and amortization 27,879 2,063 6,016 35,958 450 36,408 Year Ended March 31, 2021* (in thousands) Contractor Solutions Engineered Building Solutions Specialized Reliability Solutions Subtotal - Reportable Segments Eliminations and Other Total Revenues, net to external customers $ 245,232 $ 95,672 $ 78,301 $ 419,205 $ — $ 419,205 Intersegment revenue 296 — 64 360 (360) — Operating income 59,007 14,066 581 73,654 (14,434) 59,220 Depreciation and amortization 14,415 2,014 5,744 22,173 545 22,718 Year Ended March 31, 2020* (in thousands) Contractor Solutions Engineered Building Solutions Specialized Reliability Solutions Subtotal - Reportable Segments Eliminations and Other Total Revenues, net to external customers $ 190,421 $ 90,881 $ 104,569 $ 385,871 $ — $ 385,871 Intersegment revenue 275 — 72 347 (347) — Operating income 58,236 14,278 7,690 80,204 (14,350) 65,854 Depreciation and amortization 5,887 2,074 6,181 14,142 494 14,636 *Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements. In the fiscal quarter ended March 31, 2020, we recorded an impairment of $1.0 million on one of our unamortized trademarks in our Contractor Solutions segment. TOTAL ASSETS (Amounts in thousands) Contractor Solutions Engineered Building Solutions Specialized Reliability Solutions Subtotal - Reportable Segments Eliminations and Other Total March 31, 2022 $ 782,267 $ 74,397 $ 126,380 $ 983,044 $ 12,316 $ 995,360 March 31, 2021* 687,508 67,281 111,493 866,282 13,240 879,522 March 31, 2020* 161,508 68,752 118,927 349,187 24,872 374,059 *Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements. Geographic information – We attribute revenues to different geographic areas based on the destination of the product or service delivery. Long-lived assets are classified based on the geographic area in which the assets are located and exclude deferred taxes. No individual country, except for the U.S., accounted for more than 10% of consolidated net revenues or total long-lived assets. Revenues and long-lived assets by geographic area are as follows (in thousands, except percent data): Year Ended March 31, 2022 2021 2020 U.S. $ 559,296 89.3 % $ 367,169 87.6 % $ 323,000 83.7 % Non-U.S. (a) 67,139 10.7 % 52,036 12.4 % 62,871 16.3 % Revenues, net $ 626,435 100.0 % $ 419,205 100.0 % $ 385,871 100.0 % (a) No individual country within this group represents 10% or more of consolidated totals for any period presented. Year Ended March 31, 2022 2021 2020 U.S. $ 651,477 93.7 % $ 617,258 93.5 % $ 196,679 89.7 % Non-U.S. 43,736 6.3 % 43,146 6.5 % 22,521 10.3 % Long-lived assets (a) $ 695,213 100.0 % $ 660,404 100.0 % $ 219,200 100.0 % (a) Long-lived assets consist primarily of property, plant and equipment, intangible assets, goodwill and other assets, net of deferred taxes. Major customer information – We have a large number of customers across our locations and do not believe that we have sales to any individual customer that represented 10% or more of consolidated net revenues for any of the fiscal years presented.

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Mar. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data (Unaudited)	QUARTERLY FINANCIAL DATA (UNAUDITED) The following presents a summary of the unaudited quarterly data for the years ended March 31, 2022 and 2021 (amounts in millions, except per share data): Year Ended March 31, 2022 Quarter 4th 3rd 2nd 1st Revenues, net $ 173.3 $ 136.3 $ 155.6 $ 161.3 Gross profit 72.3 51.3 63.3 69.0 Income before income taxes 27.6 12.1 24.5 27.2 Net income 18.5 9.7 18.4 20.7 Net income attributable to CSW Industrials, Inc. 18.4 9.3 18.2 20.5 Earnings per share attributable to CSW Industrials, Inc. (a) Basic $ 1.17 $ 0.59 $ 1.15 $ 1.30 Diluted 1.17 0.59 1.15 1.30 Year Ended March 31, 2021* Quarter 4th 3rd 2nd 1st Revenues, net $ 133.4 $ 89.9 $ 104.9 $ 91.0 Gross profit 54.9 38.7 48.3 42.6 Income before income taxes 11.9 2.4 21.1 15.5 Net income 10.4 1.9 16.0 11.9 Net income attributable to CSW Industrials, Inc. 10.4 1.9 16.0 11.9 Earnings per share attributable to CSW Industrials, Inc. (a) Basic $ 0.66 $ 0.12 $ 1.09 $ 0.81 Diluted 0.66 0.12 1.08 0.80 *Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements. (a) Net earnings per common share is computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in weighted average quarterly shares outstanding.

Organization and Operations a_2

Organization and Operations and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation – The consolidated financial position, results of operations and cash flows included in this Annual Report on Form 10-K for the fiscal year ended March 31, 2022 (“Annual Report”) include all revenues, costs, assets and liabilities directly attributable to CSWI and have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”). The consolidated financial statements are for us and our consolidated subsidiaries, each of which is a wholly-owned subsidiary, except our 50% investment in a variable interest entity for which we have determined that we are the primary beneficiary and therefore have consolidated into our financial statements. All significant intercompany transactions have been eliminated in consolidation.
Variable Interest Entities	Variable Interest Entities - We evaluate whether an entity is a variable interest entity (“VIE”) and determine if the primary beneficiary status is appropriate on a quarterly basis. We consolidate a VIE for which we are the primary beneficiary. When assessing the determination of the primary beneficiary, we consider all relevant facts and circumstances, including: the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, the obligation to absorb the expected losses and/or the right to receive the expected returns of the VIE. Through this evaluation, we determined that the Whitmore JV is a VIE and the Company is the primary beneficiary of this VIE, primarily due to Whitmore having the power to direct the manufacturing activities, which are considered the most significant activities for the Whitmore JV.
Use of Estimates	Use of Estimates – The process of preparing financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect reported amounts of certain assets, liabilities, revenues and expenses. We believe our estimates and assumptions are reasonable; however, actual results may differ materially from such estimates. The most significant estimates and assumptions are used in determining: • Timing and amount of revenue recognition; • Deferred taxes and tax reserves; and • Valuation of goodwill and indefinite-lived intangible assets.
Change in Accounting Principle	Change in Accounting Principle - During the fourth quarter of the fiscal year ended March 31, 2022, the Company changed its method of accounting for certain domestic inventory previously valued by the last-in, first-out ("LIFO") method to the first-in, first-out ("FIFO") method. All prior periods presented have been retrospectively adjusted to apply the new method of accounting. Refer to Note 7 for more information on the change in inventory accounting method.
Cash and Cash Equivalents	Cash and Cash Equivalents – We consider all highly liquid instruments purchased with original maturities of three months or less and money market accounts to be cash equivalents. We maintain our cash and cash equivalents at financial institutions for which the combined account balances in individual institutions may exceed insurance coverage and, as a result, there is a concentration of credit risk related to amounts on deposit in excess of insurance coverage.
Accounts Receivable, Allowance for Doubtful Accounts and Credit Risk	Accounts Receivable, Allowance for Doubtful Accounts and Credit Risk – Trade accounts receivables are recorded at the invoiced amounts and do not bear interest. We record an allowance for credit losses on trade receivables that, when deducted from the gross trade receivables balance, presents the net amount expected to be collected. We estimate the allowance based on an aging schedule and according to historical losses as determined from our billings and collections history. This may be adjusted after consideration of customer-specific factors such as financial difficulties, liquidity issues or insolvency, as well as both current and forecasted macroeconomic conditions as of the reporting date. We adjust the allowance and recognize credit losses in the income statement each period. Trade receivables are written off against the allowance in the period when the receivable is deemed to be uncollectible. Subsequent recoveries of amounts previously written off are reflected as a reduction to periodic credit losses in the income statement.
Credit Risks	Credit risks are mitigated by the diversity of our customer base across many different industries and by performing creditworthiness analyses on our customers. Additionally, we mitigate credit risk through letters of credit and advance payments received from our customers. We do not believe that we have any significant concentrations of credit risk.
Inventories and Related Reserves	Inventories and Related Reserves – Inventories are stated at the lower of cost or net realizable value and include raw materials, supplies, direct labor and manufacturing overhead. Cost is determined using the first-in, first-out (“FIFO”) method for valuing inventories at majority of our domestic operations. Our foreign subsidiaries and some domestic operations use either the FIFO or the weighted average cost method to value inventory. Foreign inventories represent approximately 10% and 12% of total inventories as of March 31, 2022 and 2021, respectively. Reserves are provided for slow-moving or excess and obsolete inventory based on the difference between the cost of the inventory and its net realizable value and by reviewing quantities on hand in comparison with historical and expected future usage. In estimating the reserve for excess or slow-moving inventory, management considers factors such as product aging, current and future customer demand and market conditions.
Property, Plant and Equipment	Property, Plant and Equipment – Property, plant and equipment are stated at cost and depreciated using the straight-line method over the estimated useful lives of the individual assets. When property, plant and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the accounts, and the resulting gain or loss is included in income from operations for the period. Generally, the estimated useful lives of assets are: Land improvements 5 to 40 years Buildings and improvements 7 to 40 years Plant, office and lab equipment 5 to 10 years We review property, plant and equipment for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable.
Valuation of Goodwill and Intangible Assets	Valuation of Goodwill and Intangible Assets – The value of goodwill is tested for impairment at least annually as of January 31 or whenever events or circumstances indicate such assets may be impaired. The identification of our reporting units began at the operating segment level and considered whether components one level below the operating segment levels should be identified as reporting units for purpose of testing goodwill for impairment based on certain conditions. These conditions included, among other factors, (i) the extent to which a component represents a business and (ii) the aggregation of economically similar components within the operating segments. Other factors that were considered in determining whether the aggregation of components was appropriate included the similarity of the nature of the products and services, the nature of the production processes, the methods of distribution and the types of industries served.
Intangible Assets	We have intangible assets consisting of patents, trademarks, customer lists and non-compete agreements. Definite-lived intangible assets are assessed for impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable. In addition, we have other trademarks and license agreements that are considered to have indefinite lives. We test indefinite-lived intangible assets for impairment at least annually as of January 31 or whenever events or circumstances indicate that the carrying amount may not be recoverable. Significant assumptions used in the impairment test include the discount rate, royalty rate, future sales projections and terminal value growth rate. These inputs are considered non-recurring Level III inputs within the fair value hierarchy. An impairment loss would be recognized when estimated future cash flows are less than their carrying amount.
Property Held for Investment	Property Held for Investment – One of our non-operating subsidiaries holds and manages a non-operating property, which is valued at lower of cost or market and disposed of as opportunities arise to maximize value.
Deferred Loan Costs	Deferred Loan Costs – Deferred loan costs related to our credit facility, which are reported in other assets and consist of fees and other expenses associated with debt financing, are amortized over the term of the associated debt using the effective interest method.
Fair Values of Financial Instruments	Fair Values of Financial Instruments – Our financial instruments are presented at fair value in our consolidated balance sheets, with the exception of our long-term debt, as discussed in Note 9. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models may be applied. Assets and liabilities recorded at fair value in our consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Hierarchical levels, as defined by Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures,” are directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities. An asset or a liability’s categorization within the fair value hierarchy is based on the lowest level of significant input to its valuation. Hierarchical levels are as follows: Level I – Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date. Level II – Inputs (other than quoted prices included in Level I) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life. Level III – Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model.
Leases	Leases – We determine if a contract is or contains a lease at inception by evaluating whether the contract conveys the right to control the use of an identified asset. Right-of-Use (“ROU”) assets and lease liabilities are initially recognized at the commencement date based on the present value of remaining lease payments over the lease term calculated using our incremental borrowing rate, unless the implicit rate is readily determinable. ROU assets represent the right to use an underlying asset for the lease term, including any upfront lease payments made and excluding lease incentives. Lease liabilities represent the obligation to make future lease payments throughout the lease term. As most of our operating leases do not provide an implicit rate, we apply our incremental borrowing rate to determine the present value of remaining lease payments. Our incremental borrowing rate is determined based on information available at the commencement date of the lease. The lease term includes renewal periods when we are reasonably certain to exercise the option to renew. The ROU asset is amortized over the expected lease term. Lease and non-lease components, when present on our leases, are accounted for separately. Leases with an initial term of 12 months or less are excluded from recognition in the balance sheet, and the expense for these short-term leases and for operating leases is recognized on a straight-line basis over the lease term. We have certain lease contracts with terms and conditions that provide for variability in the payment amount based on changes in facts or circumstances occurring after the commencement date. These variable lease payments are recognized in our consolidated income statements as the obligation is incurred.
Derivative Instruments and Hedge Accounting	Derivative Instruments and Hedge Accounting – We do not use derivative instruments for trading or speculative purposes. We enter into interest rate swap agreements for the purpose of hedging our cash flow exposure to floating interest rates on certain portions of our debt. All derivative instruments are recognized on the balance sheet at their fair values. Changes in the fair value of a designated interest rate swap are recorded in other comprehensive loss until earnings are affected by the underlying hedged item. Any ineffective portion of the gain or loss is immediately recognized in earnings. Upon settlement, realized gains and losses are recognized in interest expense in the consolidated statements of operations. We discontinue hedge accounting when (1) we deem the hedge to be ineffective and determine that the designation of the derivative as a hedging instrument is no longer appropriate; (2) the derivative matures, terminates or is sold; or (3) occurrence of the contracted or committed transaction is no longer probable or will not occur in the originally expected period. When hedge accounting is discontinued and the derivative remains outstanding, we carry the derivative at its estimated fair value on the balance sheet, recognizing changes in the fair value in current period earnings. If a cash flow hedge becomes ineffective, any deferred gains or losses remain in accumulated other comprehensive loss until the underlying hedged item is recognized. If it becomes probable that a hedged forecasted transaction will not occur, deferred gains or losses on the hedging instrument are recognized in earnings immediately. We are exposed to risk from credit-related losses resulting from nonperformance by counterparties to our financial instruments. We perform credit evaluations of our counterparties under forward exchange contracts and interest rate swap agreements and expect all counterparties to meet their obligations. If necessary, we adjust the values of our derivative contracts for our or our counterparties’ credit risk.
Pension Obligations	Pension Obligations – Determination of pension benefit obligations is based on estimates made by management in consultation with independent actuaries. Inherent in these valuations are assumptions including discount rates, expected rates of return on plan assets, retirement rates, mortality rates and rates of compensation increase and other factors, all of which are reviewed annually and updated if necessary. Current market conditions, including changes in rates of return, interest rates and medical inflation rates, are considered in selecting these assumptions. Actuarial gains and losses and prior service costs are recognized in accumulated other comprehensive loss as they arise, and we amortize these costs into net pension expense over the remaining expected service period. We used a measurement date of March 31 for all periods presented.
Redeemable Noncontrolling Interests	Redeemable Noncontrolling Interests - Noncontrolling interests with redemption features that are not solely within our control are considered redeemable noncontrolling interests. Our redeemable noncontrolling interest relates to Shell's 50% equity interest in the Whitmore JV and is classified in temporary equity that is reported between liabilities and shareholders' equity on our Consolidated Balance Sheets initially at its formation-date fair value. We adjust the redeemable noncontrolling interest each reporting period for the net income (or loss) attributable to the noncontrolling interest. We also make a measurement period adjustment, if any, to adjust the redeemable noncontrolling interest to the higher of the redemption value or carrying value each reporting period. These adjustments are recognized through retained earnings and are not reflected in net income or net income attributable to CSWI. The redemption value of the redeemable noncontrolling interest is estimated using a discounted cash flow analysis, which requires management judgment with respect to future revenue, operating margins, growth rates and discount rates. Net income (loss) attributable to the redeemable noncontrolling interests are presented as a separate line on the consolidated statements of operations which is necessary to identify those income (loss) specifically attributable to CSWI. The financial results and position of the redeemable noncontrolling interest acquired through the formation of the Whitmore JV are included in their entirety in our consolidated statements of operations and consolidated balance sheets beginning with the first quarter of fiscal 2022.
Revenue Recognition	Revenue Recognition – We recognize revenues to depict the transfer of control of promised goods or services to our customers in an amount that reflects the consideration to which we expect to be entitled in exchange for those goods or services. Refer to Note 20 for further discussion. We recognize revenue when all of the following criteria have been met: (i) a contract with a customer exists, (ii) performance obligations have been identified, (iii) the price to the customer has been determined, (iv) the price to the customer has been allocated to the performance obligations, and (v) performance obligations are satisfied, which are more fully described below. (i) We identify a contract with a customer when a sales agreement indicates approval and commitment of the parties; identifies the rights of the parties; identifies the payment terms; has commercial substance; and it is probable that we will collect the consideration to which we will be entitled in exchange for the goods or services that will be transferred to the customer. In most instances, our contract with a customer is the customer's purchase order. For certain customers, we may also enter into a sales agreement that outlines a framework of terms and conditions that apply to all future purchase orders for that customer. In these situations, our contract with the customer is both the sales agreement and the specific customer purchase order. Because our contract with a customer is typically for a single transaction or customer purchase order, the duration of the contract is one year or less. As a result, we have elected to apply certain practical expedients and, as permitted by the Financial Accounting Standards Board ("FASB"), omit certain disclosures of remaining performance obligations for contracts that have an initial term of one year or less. (ii) We identify performance obligations in a contract for each promised good or service that is separately identifiable from other promises in the contract and for which the customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer. Goods and services provided to our customers that are deemed immaterial are included with other performance obligations. (iii) We determine the transaction price as the amount of consideration we expect to be entitled to in exchange for fulfilling the performance obligations, including the effects of any variable consideration. (iv) For any contracts that have more than one performance obligation, we allocate the transaction price to each performance obligation in an amount that depicts the amount of consideration to which we expect to be entitled in exchange for satisfying each performance obligation. We have excluded disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less as the majority of our contracts are short-term in nature with a term of one year or less. (v) We recognize revenue when, or as, we satisfy the performance obligation in a contract by transferring control of a promised good or service to the customer.
Research and Development ("R&D")	Research and Development ("R&D") – R&D costs are expensed as incurred. Costs incurred for R&D primarily include salaries and benefits and consumable supplies, as well as rent, professional fees, utilities and the depreciation of property and equipment used in R&D activities.
Share-based Compensation	Share-based Compensation – Share-based compensation is measured at the grant-date fair value. The exercise price of stock option awards and the fair value of restricted share awards are set at the closing price of our common stock on the Nasdaq Global Select Market on the date of grant, which is the date such grants are authorized by our Board of Directors. The fair value of performance-based restricted share awards is determined using a Monte Carlo simulation model incorporating all possible outcomes against the Russell 2000 Index. The fair value of share-based payment arrangements is amortized on a straight-line basis to compensation expense over the period in which the restrictions lapse based on the expected number of shares that will vest. To cover the exercise of options and vesting of restricted shares, we generally issue new shares from our authorized but unissued share pool, although we may instead issue treasury shares in certain circumstances.
Income Taxes, Deferred Taxes, Tax Valuation Allowances and Tax Reserves	Income Taxes, Deferred Taxes, Tax Valuation Allowances and Tax Reserves – We apply the liability method in accounting and reporting for income taxes. Under the liability approach, deferred tax assets and liabilities are determined based upon the difference between the financial statement carrying amounts and the tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax rates expected to be in effect when these differences are expected to reverse. The effect on deferred tax assets and liabilities resulting from a change in tax rates is recognized in the period that includes the enactment date. The deferred income tax assets are adjusted by a valuation allowance, if necessary, to recognize future tax benefits only to the extent, based on available evidence, that it is more likely than not to be realized. This analysis is performed on a jurisdictional basis and reflects our ability to utilize these deferred tax assets through a review of past, current and estimated future taxable income in addition to the establishment of viable tax strategies that will result in the utilization of the deferred assets. We recognize income tax related interest and penalties, if any, as a component of income tax expense.
Unremitted Earnings	Unremitted Earnings – During the fiscal quarter ended March 31, 2019, we lifted our assertion that the earnings of our United Kingdom ("U.K.") and Australian subsidiaries were indefinitely invested outside of the U.S. During the fiscal quarter ended September 30, 2020, we lifted our assertion that the earnings of our Jet Lube Canada subsidiary were indefinitely invested outside of the U.S. We assert that the foreign earnings of the U.K., Australian, Vietnam, RectorSeal Canada and Jet Lube Canada subsidiaries will be remitted to the U.S. through distributions. A provision was made for taxes that may become payable upon distribution of earnings from our U.K., Australian, Vietnam and Jet Lube Canada subsidiaries. We still consider the earnings of our other Canadian subsidiaries indefinitely invested outside the U.S. as we have needs for working capital in our other Canadian entities.
Uncertain Tax Positions	Uncertain Tax Positions – We establish income tax liabilities to remove some or all of the income tax benefit of any of our income tax positions based upon one of the following: (1) the tax position is not “more likely than not” to be sustained, (2) the tax position is “more likely than not” to be sustained, but for a lesser amount or (3) the tax position is “more likely than not” to be sustained, but not in the financial period in which the tax position was originally taken. The amount of income taxes we pay is subject to ongoing audits by federal, state, and foreign taxing authorities, which often result in proposed assessments. We establish reserves for open tax years for uncertain tax positions that may be subject to challenge by various taxing authorities. The consolidated tax provision and related accruals include the impact of such reasonably estimable losses and related interest and penalties as deemed appropriate.
Earnings Per Share	Earnings Per Share – We use the two-class method of calculating earnings per share, which determines earnings per share for each class of common stock and participating security as if all earnings of the period had been distributed. If the holders of restricted stock awards are entitled to vote and receive dividends during the restriction period, unvested shares of restricted stock qualify as participating securities and, accordingly, are included in the basic computation of earnings per share. Our unvested restricted shares participate on an equal basis with common shares; therefore, there is no difference in undistributed earnings allocated to each participating security. Accordingly, the presentation in Note 12 is prepared on a combined basis and is presented as earnings per common share. Diluted earnings per share is based on the weighted average number of shares as determined for basic earnings per share plus shares potentially issuable in connection with stock options and restricted stock awards not entitled to vote and receive dividends during the restriction period.
Foreign Currency Translation	Foreign Currency Translation – Assets and liabilities of our foreign subsidiaries are translated to U.S. dollars at exchange rates prevailing at the balance sheet date, while income and expenses are translated at average rates for each month. Translation gains and losses are reported as a component of accumulated other comprehensive loss. Transactional currency gains and losses arising from transactions in currencies other than our sites’ functional currencies are included in our consolidated statements of operations. Transaction and translation gains and losses arising from intercompany balances are reported as a component of accumulated other comprehensive loss when the underlying transaction stems from a long-term equity investment or from debt designated as not due in the foreseeable future. Otherwise, we recognize transaction gains and losses arising from intercompany transactions as a component of income.
Segments	Segments - We conduct our operations through three business segments based on how we manage the business. Our Chief Executive Officer views our business, assesses performance and allocates resources using financial information generated and reported at the reportable segment level. We evaluate segment performance and allocate resources based on each reportable segment's operating income. Our reportable segments are as follows: 1. Contractor Solutions , which manufactures efficiency and performance enhancing products predominantly for residential and commercial HVAC/R and plumbing applications, which are designed primarily for professional end-use customers. This segment is comprised primarily of our RectorSeal, TRUaire and Shoemaker operating companies. 2. Engineered Building Solutions , which provides primarily code-driven products focused on life safety that are engineered to provide aesthetically-pleasing solutions for the construction, refurbishment and modernization of commercial, institutional, and multi-family residential buildings. This segment is comprised primarily of our Balco, Greco and Smoke Guard operating companies. 3. Specialized Reliability Solutions , which provides products for increasing the reliability, performance and lifespan of industrial assets and solving equipment maintenance challenges. This segment is comprised primarily of our Whitmore operating company and the Whitmore JV. Intersegment sales and transfers are recorded at cost plus a profit margin, with the revenues and related margin on such sales eliminated in consolidation. We do not allocate share-based compensation expense, interest expense, interest income or other income, net to our segments. Our corporate headquarters does not constitute a separate segment. The Eliminations and
Discontinued Operations	Discontinued Operations – During the third quarter of the fiscal year ended March 31, 2018, we committed to a plan to divest our Strathmore Products business (the "Coatings business"). As a result, we reclassified the assets comprising that business to assets held-for-sale, and made a corresponding adjustment to our consolidated statements of operations to reflect discontinued operations for all periods presented.
Accounting Developments	Accounting Developments Pronouncements Implemented In December 2019, the FASB issued ASU No. 2019-12, "Income Taxes: Simplifying the Accounting for Income Taxes." This update simplifies the accounting for income taxes by removing certain exceptions and adding some requirements regarding franchise (or similar) tax, step-ups in a business combination, treatment of entities not subject to tax and when to apply enacted changes in tax laws. This ASU is effective for fiscal years beginning after December 15, 2020 and interim periods within those fiscal years. The amendments related to changes in ownership of foreign equity method investments or foreign subsidiaries should be applied on a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. The amendments related to franchise taxes that are partially based on income should be applied on either a retrospective basis for all periods presented or a modified retrospective basis through a cumulative-effect adjustment to retained earnings as of the beginning of the fiscal year of adoption. All other amendments should be applied on a prospective basis. Early adoption is permitted. Our adoption of ASU No. 2019-12 effective April 1, 2021 did not have a material impact on our condensed consolidated financial conditions and results of operations. Pronouncements not yet implemented In October 2021, the FASB issued ASU No. 2021-08, "Accounting for Contract Assets and Contract Liabilities from Contracts with Customers." This update improves comparability for both the recognition and measurement of acquired customer revenue contracts at the date of and after a business combination. The amendments are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years and should be applied prospectively to business combinations occurring on or after the effective date of the amendments. The adoption is not expected to have a significant impact on our consolidated financial condition and results of operations. In March 2020, the FASB issued ASU 2020-04, "Reference Rate Reform (Topic 848) Facilitation of the Effects of Reference Rate Reform on Financial Reporting." This update provides temporary optional expedients and exceptions to existing guidance on applying contract modifications and hedge accounting to facilitate the market transition from existing reference rates, such as the London Interbank Offered Rate ("LIBOR"), which is scheduled to be phased out in June 2023, to alternate rates such as the Secured Overnight Financing Rate ("SOFR"). This ASU was effective upon issuance and can be applied prospectively through December 31, 2022. The adoption is not expected to have a significant impact on our consolidated financial condition and results of operations.

Organization and Operations a_3

Organization and Operations and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Property, Plant and Equipment, Net	Generally, the estimated useful lives of assets are: Land improvements 5 to 40 years Buildings and improvements 7 to 40 years Plant, office and lab equipment 5 to 10 years Property, plant and equipment, net , consist of the following (in thousands): March 31, 2022 2021 Land and improvements $ 3,226 $ 3,168 Buildings and improvements 53,346 53,020 Plant, office and laboratory equipment 99,770 95,848 Construction in progress 11,083 3,462 167,425 155,498 Less: Accumulated depreciation (80,393) (72,944) Property, plant and equipment, net $ 87,032 $ 82,554

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Schedule of Consideration Transferred	Acquisition Consideration (Amounts in thousands, except for shares) Cash (a) $ 287,986 Common stock (849,852 shares) 97,656 Total consideration transferred $ 385,642 (a) Amount includes working capital and closing cash adjustments, and includes a $1.0 million to be paid to the sellers as a result of an expected tax refund pursuant to the purchase agreement.
Schedule of Aggregate Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the Company's best initial estimate of the aggregate fair value of the assets acquired and liabilities assumed at the date of acquisition (in thousands). Initial Estimated Fair Value Measurement Period Adjustments Updated Estimated Fair Value Cash $ 1,471 $ — $ 1,471 Accounts Receivable, net 13,467 (17) 13,450 Inventory 46,313 (1,300) 45,013 Short-Term Tax Indemnity Assets 5,000 — 5,000 Other Current Assets 1,285 2,103 3,388 Property, Plant and Equipment 28,832 (4,201) 24,631 Trade Name (indefinite life) 43,500 — 43,500 Customer Lists (useful life of 15 years) 194,000 8,500 202,500 Right-Of-Use Assets 49,040 — 49,040 Long-Term Tax Indemnity Assets 7,500 — 7,500 Other Long-term Assets 2,850 (698) 2,152 Accounts Payable (4,074) — (4,074) Accrued and Other Current Liabilities (3,678) (172) (3,850) Lease Liabilities - Short-Term (4,811) — (4,811) Deferred Tax Liabilities (a) (56,249) (3,784) (60,033) Tax Contingency Reserve (22,511) 5,190 (17,321) Lease Liabilities - Long-Term (45,369) — (45,369) Estimated fair value of net assets acquired 256,566 5,621 262,187 Goodwill (a) 129,169 (5,714) 123,455 Total Purchase Price $ 385,735 $ (93) $ 385,642 (a) Reflects an immaterial adjustment of $1.8 million to both goodwill and deferred tax liabilities associated with the opening balance sheets inventory.
Schedule of Unaudited Proforma Financial Information	Pursuant to Topic 805, unaudited supplemental proforma results of operations for the year ended March 31, 2021 and 2020, as if the acquisition of TRUaire had occurred on April 1, 2019 are presented below (in thousands, except per share amounts): Year Ended March 31, 2021 2020 Revenue, net $ 495,788 $ 480,285 Net income 47,648 28,492 Net earnings per common share: Diluted $ 3.03 $ 1.77 Basic 3.05 1.79

Consolidation of Variable Int_2

Consolidation of Variable Interest Entity and Redeemable Noncontrolling Interest (Tables)	12 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	Whitmore JV's total net assets are presented below (in thousands): March 31, 2022 Cash $ 5,505 Accounts receivable, net 7,653 Inventories, net 1,663 Prepaid expenses and other current assets 6 Property, plant and equipment, net 7,014 Intangible assets, net 7,288 Other assets 121 Total assets $ 29,250 Accounts payable $ 5,401 Accrued and other current liabilities 1,306 Other long-term liabilities 51 Total liabilities $ 6,758
Schedule of Redeemable Noncontrolling Interest	Changes in redeemable noncontrolling interest for the year ended March 31, 2022 were as follows (in thousands): Balance at March 31, 2021 $ — Fair value of redeemable noncontrolling interest at formation-date 13,391 Net income attributable to redeemable noncontrolling interest 934 Contributions from noncontrolling interest 1,000 Adjustments to redemption value — Balance at March 31, 2022 $ 15,325

Discontinued Operations (Tables

Discontinued Operations (Tables)	12 Months Ended
	Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations	Summarized selected financial information for the Coatings business for the years ended March 31, 2022, 2021 and 2020, is presented in the following table (in thousands): Year Ended March 31, 2022 2021 2020 Revenues, net $ — $ — $ — Gain from discontinued operations before income taxes — — 1,326 Income tax expense — — (265) Gain from discontinued operations $ — $ — $ 1,061

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	12 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Changes in Carrying Amount of Goodwill	The changes in the carrying amount of goodwill for the years ended March 31, 2022 and 2021 were as follows (in thousands): Contractor Solutions Engineered Building Solutions Specialized Reliability Solutions Total Balance at April 1, 2020 $ 43,610 $ 21,237 $ 26,840 $ 91,687 TRUaire acquisition 125,554 — — 125,554 Currency translation 181 1,001 372 1,554 Balance at March 31, 2021 $ 169,345 $ 22,238 $ 27,212 $ 218,795 Goodwill re-allocation 14,813 2,727 (17,540) — TRUaire acquisition (2,099) — — (2,099) Shoemaker acquisition 8,115 — — 8,115 Currency translation (22) 42 (173) (153) Balance at March 31, 2022 $ 190,152 $ 25,007 $ 9,499 $ 224,658
Schedule of Intangible Assets	The following table provides information about our intangible assets for the years ended March 31, 2022 and 2021 (in thousands, except years): March 31, 2022 March 31, 2021 Wtd Avg Life (Years) Ending Gross Amount Accumulated Amortization Ending Gross Amount Accumulated Amortization Finite-lived intangible assets: Patents 11 $ 9,417 $ (8,065) $ 9,461 $ (7,540) Customer lists and amortized trademarks 14 297,909 (61,368) 267,096 (42,345) Non-compete agreements 5 939 (258) 982 (790) Other 8 5,123 (3,957) 4,743 (3,141) $ 313,388 $ (73,648) $ 282,282 $ (53,816) Trade names and trademarks not being amortized: $ 61,097 $ — $ 54,594 $ —
Schedule of Estimated Future Amortization For Intangible Assets	The following table presents the estimated future amortization of finite-lived intangible assets for the next five fiscal years ending March 31 (in thousands): 2023 $ 18,877 2024 18,403 2025 17,668 2026 17,062 2027 16,294 Thereafter 151,436 Total $ 239,740

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Schedule of Share-Based Compensation Expense	We recorded share-based compensation expense for restricted stock as follows for the years ended March 31, 2022, 2021 and 2020 (in thousands): Year Ended March 31, 2022 2021 2020 Share-based compensation expense $ 8,450 $ 5,085 $ 5,074 Related income tax benefit (2,197) (1,220) (1,218) Net share-based compensation expense $ 6,253 $ 3,865 $ 3,856
Schedule of Stock Options Activity	Stock option activity, which represents outstanding CSWI awards resulting from the conversion of Capital Southwest stock options held by former Capital Southwest employees, was as follows: Year Ended March 31, 2022 Number of Shares Weighted Average Exercise Price Remaining Contractual Life (Years) Aggregate Intrinsic Value (in Millions) Outstanding at April 1, 2021 63,413 $ 25.23 Exercised (52,613) 25.23 Outstanding at March 31, 2022 (a) 10,800 $ 25.23 2.4 $ 1.0 Exercisable at March 31, 2022 (a) 10,800 $ 25.23 2.4 $ 1.0 (a) All remaining awards outstanding and exercisable at March 31, 2022 are held by employees of CSWI. Year Ended March 31, 2021 Number of Shares Weighted Average Exercise Price Remaining Contractual Life (Years) Aggregate Intrinsic Value (in Millions) Outstanding at April 1, 2020 115,858 $ 25.30 Exercised (52,445) 25.40 Outstanding at March 31, 2021 63,413 $ 25.23 3.4 $ 7.0 Exercisable at March 31, 2021 63,413 $ 25.23 3.4 $ 7.0
Schedule of Restricted Stock Activity	Restricted stock activity was as follows: Year Ended March 31, 2022 Number of Shares Weighted Average Grant Date Fair Value Outstanding at April 1, 2021 172,916 $ 70.50 Granted 164,864 161.00 Vested (106,929) 63.44 Canceled (2,520) 90.60 Outstanding at March 31, 2022 228,331 $ 126.02

Inventory (Tables)

Inventory (Tables)	12 Months Ended
	Mar. 31, 2022
Inventory Disclosure [Abstract]
Schedule of Inventories, Net	The Inventories, net caption in the Consolidated Balance Sheet is comprised of the following components: March 31, 2022 2021* Raw materials and supplies $ 46,136 $ 27,416 Work in process 7,471 6,365 Finished goods 100,792 72,452 Total inventories 154,399 106,233 Less: Obsolescence reserve (4,285) (3,582) Inventories, net $ 150,114 $ 102,651 *Year ended March 31, 2021 amounts have been revised to reflect the change in inventory accounting method, as described above and in Note 1 to the consolidated financial statements.
Schedule of Financial Statement Line Items Within The Accompanying Financial Statements	As a result of the retrospective application of this change in accounting method, the following financial statement line items within the accompanying financial statements were adjusted, as follows: Fiscal Year Ended March 31, 2022 (in thousands, except for per share amounts) As Computed Under LIFO As Reported Under FIFO Effect of Change Consolidated Statement of Operations Cost of sales $ 373,194 $ 370,473 $ (2,721) Income before income taxes 88,744 91,465 2,721 Income tax expense 23,426 24,146 720 Net income 65,318 67,319 2,001 Income attributable to redeemable noncontrolling interest (1,073) (934) 139 Net income attributable to CSW Industrials, Inc. 64,245 66,385 2,140 Earnings per share attributable to CSW Industrials, Inc. Basic $ 4.08 $ 4.21 $ 0.13 Diluted 4.06 4.20 0.14 Consolidated Statements of Comprehensive Income Net income $ 65,318 $ 67,319 $ 2,001 Comprehensive income attributable to redeemable noncontrolling interest (1,073) (934) 139 Total comprehensive income attributable to CSW Industrials, Inc. 65,167 67,307 2,140 Fiscal Year Ended March 31, 2021 (in thousands, except for per share amounts) As Previously Reported Under LIFO As Reported Under FIFO Effect of Change Consolidated Statement of Operations Cost of sales $ 234,405 $ 234,655 $ 250 Income before income taxes 51,118 50,868 (250) Income tax expense 10,830 10,769 (61) Net income 40,287 40,099 (188) Net income attributable to CSW Industrials, Inc. 40,287 40,099 (188) Earnings per share attributable to CSW Industrials, Inc. Basic $ 2.68 $ 2.67 $ (0.01) Diluted 2.66 2.65 (0.01) Consolidated Statements of Comprehensive Income Net income $ 40,287 $ 40,099 $ (188) Total comprehensive income attributable to CSW Industrials, Inc. 45,738 45,549 (189) Fiscal Year Ended March 31, 2020 (in thousands, except for per share amounts) As Previously Reported Under LIFO As Reported Under FIFO Effect of Change Consolidated Statement of Operations Cost of sales $ 208,821 $ 209,034 $ 213 Income before income taxes 57,601 57,388 (213) Income tax expense 12,784 12,732 (52) Net income 45,877 45,717 (160) Net income attributable to CSW Industrials, Inc. 45,877 45,717 (160) Earnings per share attributable to CSW Industrials, Inc. Basic $ 3.05 $ 3.04 $ (0.01) Diluted 3.02 3.01 (0.01) Consolidated Statements of Comprehensive Income Net income $ 45,877 $ 45,717 $ (160) Total comprehensive income attributable to CSW Industrials, Inc. 45,160 45,000 (160) Fiscal Year Ended March 31, 2022 (in thousands, except for per share amounts) As Computed Under LIFO As Reported Under FIFO Effect of Change Consolidated Balance Sheets Inventories, net $ 142,828 $ 150,114 $ 7,286 Deferred tax liabilities 60,962 62,810 1,848 Redeemable noncontrolling interest 15,464 15,325 (139) Retained earnings 401,945 407,522 5,577 Consolidated Statement of Cash Flows Net income $ 65,318 $ 67,319 $ 2,001 Deferred income taxes (3,981) (3,261) 720 Provision for inventory reserves 4,274 1,553 (2,721) Fiscal Year Ended March 31, 2021 (in thousands, except for per share amounts) As Previously Reported Under LIFO As Reported Under FIFO Effect of Change Consolidated Balance Sheets Inventories, net $ 98,086 $ 102,651 $ 4,565 Deferred tax liabilities 66,052 67,180 1,128 Retained earnings 347,234 350,670 3,436 Consolidated Statement of Cash Flows Net income $ 40,287 $ 40,099 $ (188) Deferred income taxes (1,737) (1,798) (61) Provision for inventory reserves 1,308 1,558 250 Fiscal Year Ended March 31, 2020 (in thousands, except for per share amounts) As Previously Reported Under LIFO As Reported Under FIFO Effect of Change Consolidated Balance Sheets Inventories, net $ 53,753 $ 58,567 $ 4,814 Deferred tax liabilities 3,848 5,037 1,189 Retained earnings 315,078 318,703 3,625 Consolidated Statement of Cash Flows Net income $ 45,877 $ 45,717 $ (160) Deferred income taxes 537 486 (51) Provision for inventory reserves (28) 184 212 As a result of the retrospective application of this change in accounting principle, the following financial statement line items within the unaudited quarterly condensed consolidated financial statements for fiscal 2022 and 2021 were adjusted, as follows: Three Months Ended June 30, 2021 June 30, 2020 (in thousands, except for per share amounts) As Previously Reported Under LIFO As Reported Under FIFO Effect of Change As Previously Reported Under LIFO As Reported Under FIFO Effect of Change Consolidated Statement of Operations Cost of sales $ 92,668 $ 92,240 $ (428) $ 48,211 $ 48,355 $ 144 Income before income taxes 26,765 27,193 428 15,628 15,484 (144) Income tax expense 6,401 6,507 106 3,668 3,633 (35) Net income 20,363 20,686 323 11,960 11,852 (108) Income attributable to redeemable noncontrolling interest (315) (224) 91 — — — Net income attributable to CSW Industrials, Inc. 20,048 20,462 414 11,960 11,852 (108) Earnings per share attributable to CSW Industrials, Inc. Basic $ 1.28 $ 1.30 $ 0.02 $ 0.81 $ 0.81 $ — Diluted 1.27 1.30 0.03 0.81 0.80 (0.01) Three Months Ended September 30, 2021 September 30, 2020 (in thousands, except for per share amounts) As Previously Reported Under LIFO As Reported Under FIFO Effect of Change As Previously Reported Under LIFO As Reported Under FIFO Effect of Change Consolidated Statement of Operations Cost of sales $ 92,533 $ 92,333 $ (200) $ 56,204 $ 56,629 $ 425 Income before income taxes 24,329 24,529 200 21,536 21,111 (425) Income tax expense 6,121 6,170 49 5,182 5,078 (104) Net income 18,208 18,359 151 16,353 16,033 (320) Income attributable to redeemable noncontrolling interest (212) (188) 24 — — — Net income attributable to CSW Industrials, Inc. 17,995 18,171 176 16,353 16,033 (320) Earnings per share attributable to CSW Industrials, Inc. Basic $ 1.14 $ 1.15 $ 0.01 $ 1.11 $ 1.09 $ (0.02) Diluted 1.14 1.15 0.01 1.10 1.08 (0.02) Three Months Ended December 31, 2021 December 31, 2020 (in thousands, except for per share amounts) As Previously Reported Under LIFO As Reported Under FIFO Effect of Change As Previously Reported Under LIFO As Reported Under FIFO Effect of Change Consolidated Statement of Income Cost of sales $ 86,244 $ 84,943 $ (1,301) $ 50,594 $ 51,240 $ 646 Income before income taxes 10,837 12,139 1,302 3,056 2,410 (646) Income tax expense 2,068 2,389 321 709 550 (159) Net income 8,769 9,750 981 2,346 1,859 (487) Income attributable to redeemable noncontrolling interest (458) (444) 14 — — — Net income attributable to CSW Industrials, Inc. 8,311 9,306 995 2,346 1,859 (487) Earnings per share attributable to CSW Industrials, Inc. Basic $ 0.53 $ 0.59 $ 0.06 $ 0.16 $ 0.12 $ (0.04) Diluted 0.52 0.59 0.07 0.16 0.12 (0.04) Three Months Ended March 31, 2022 March 31, 2021 (in thousands, except for per share amounts) As Computed Under LIFO As Reported Under FIFO Effect of Change As Previously Reported Under LIFO As Reported Under FIFO Effect of Change Consolidated Statement of Income Cost of sales $ 101,749 $ 100,957 $ (792) $ 79,396 $ 78,430 $ (966) Income before income taxes 26,813 27,605 792 10,898 11,864 966 Income tax expense 8,835 9,080 245 1,270 1,507 237 Net income 17,979 18,525 546 9,628 10,356 728 Income attributable to redeemable noncontrolling interest (88) (79) 9 — — — Net income attributable to CSW Industrials, Inc. 17,891 18,446 555 9,628 10,356 728 Earnings per share attributable to CSW Industrials, Inc. Basic $ 1.13 $ 1.17 $ 0.04 $ 0.62 $ 0.66 $ 0.04 Diluted 1.13 1.17 0.04 0.61 0.66 0.05

Details of Certain Consolidat_2

Details of Certain Consolidated Balance Sheet Captions (Tables)	12 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Accounts Receivable, Net	Accounts receivable, net consists of the following (in thousands): March 31, 2022 2021 Accounts receivable trade $ 120,603 $ 93,366 Other receivables 3,378 4,244 123,981 97,610 Less: Allowance for doubtful accounts (1,177) (915) Accounts receivable, net $ 122,804 $ 96,695
Schedule of Property, Plant and Equipment, Net	Generally, the estimated useful lives of assets are: Land improvements 5 to 40 years Buildings and improvements 7 to 40 years Plant, office and lab equipment 5 to 10 years Property, plant and equipment, net , consist of the following (in thousands): March 31, 2022 2021 Land and improvements $ 3,226 $ 3,168 Buildings and improvements 53,346 53,020 Plant, office and laboratory equipment 99,770 95,848 Construction in progress 11,083 3,462 167,425 155,498 Less: Accumulated depreciation (80,393) (72,944) Property, plant and equipment, net $ 87,032 $ 82,554
Schedule of Other Assets	Other assets consist of the following (in thousands): March 31, 2022 2021 Right-of-use lease assets $ 67,076 $ 61,707 Property held for investment (a) 418 967 Deferred income taxes 304 1,462 Long-term tax indemnification assets 7,500 7,500 Other 7,388 4,359 Other assets $ 82,686 $ 75,995 (a) As of March 31, 2021, $0.5 million asset was held for sale in the "Elimination and Other" segment. This asset was reclassified to other current asset during the year ended March 31, 2022.
Schedule of Accrued and Other Current Liabilities	Accrued and other current liabilities consist of the following (in thousands): March 31, 2022 2021 Compensation and related benefits $ 21,617 $ 19,120 Rebates and marketing agreements 16,340 9,031 Operating lease liabilities 9,269 8,063 Billings in excess of costs 1,026 1,018 Non-income taxes 1,949 1,593 Income taxes payable 4,266 3,755 Other accrued expenses 14,538 7,163 Accrued and other current liabilities $ 69,005 $ 49,743
Schedule of Other Long-Term Liabilities	Other long-term liabilities consists of the following (in thousands): March 31, 2022 2021* Operating lease liabilities $ 63,275 $ 56,709 Deferred income taxes 62,810 67,180 Tax Reserve 13,987 13,228 Other 234 736 Other long-term liabilities $ 140,306 $ 137,853 *Years ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Long-Term Debt and Commitments

Long-Term Debt and Commitments (Tables)	12 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Debt consists of the following (in thousands): March 31, 2022 2021 Revolving Credit Facility, interest rate of 1.95% and 2.11%, respectively $ 243,000 $ 232,000 Whitmore term loan, interest rate of 2.45% and 2.11%, respectively 9,775 10,337 Total debt 252,775 242,337 Less: Current portion (561) (561) Long-term debt $ 252,214 $ 241,776
Schedule of Aggregate Maturities of Long-Term Debt	Future minimum debt payments are as follows for years ending March 31 (in thousands): 2023 $ 561 2024 561 2025 561 2026 561 2027 243,561 Thereafter 6,970 Total $ 252,775

Leases (Tables)

Leases (Tables)	12 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Schedule of Components of Operating Lease Expense, Operating Lease Assets and Liabilities, Supplemental Cash Flow, and Other Information	(in thousands) March 31, 2022 March 31, 2021 Components of Operating Lease Expenses Operating lease expense $ 9,893 $ 5,243 Short-term lease expense 326 377 Total operating lease expense (a) $ 10,219 $ 5,620 (a) Included in cost of revenues and selling, general and administrative expense (in thousands) March 31, 2022 March 31, 2021 Operating Lease Assets and Liabilities ROU assets, net (a) $ 67,076 $ 61,707 Short-term lease liabilities $ 9,269 $ 8,063 Long-term lease liabilities 63,275 56,709 Total operating lease liabilities (b) $ 72,544 $ 64,772 (a) Included in other assets (b) Included in accrued and other current liabilities and other long-term liabilities, as applicable (in thousands) March 31, 2022 March 31, 2021 Supplemental Cash Flow Cash paid for amounts included in the measurement of operating lease liabilities (a) $ 9,974 $ 5,578 ROU assets obtained in exchange for new operating lease obligations 8,464 114 (a) Included in our condensed consolidated statement of cash flows, operating activities in accounts payable and other current liabilities Other Information for Operating Leases Weighted average remaining lease term (in years) 7.9 8.2 Weighted average discount rate (percent) 2.2 % 2.6 %
Schedule of Maturities of Operating Lease Liabilities	Maturities of operating lease liabilities were as follows (in thousands): (in thousands) 2023 $ 10,723 2024 10,640 2025 10,465 2026 10,142 2027 9,920 Thereafter 27,324 Total lease liabilities $ 79,214 Less: Imputed interest (6,670) Present value of lease liabilities $ 72,544

Derivative Instruments and He_2

Derivative Instruments and Hedge Accounting (Tables)	12 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Interest Rate Swaps Designated as Hedging Instruments	The fair value of interest rate swaps designated as hedging instruments are summarized below (in thousands): March 31, 2022 2021 Current derivative liabilities $ 109 $ 280 Non-current derivative liabilities 233 736

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Schedule of Reconciliation of Earnings Per Share	The following table sets forth the reconciliation of the numerator and the denominator of basic and diluted earnings per share for the years ended March 31, 2022, 2021 and 2020: March 31, (amounts in thousands, except per share data) 2022 2021* 2020* Income from continuing operations $ 67,319 $ 40,099 $ 44,656 Income from discontinued operations, net of tax — — 1,061 Income attributable to redeemable noncontrolling interest (934) — — Net income attributable to CSW Industrials, Inc. $ 66,385 $ 40,099 $ 45,717 Weighted average shares: Common stock 15,646 14,919 14,928 Participating securities 109 96 111 Denominator for basic earnings per common share 15,755 15,015 15,039 Potentially dilutive securities 52 111 167 Denominator for diluted earnings per common share 15,807 15,126 15,206 Basic earnings per common share: Continuing operations $ 4.21 $ 2.67 $ 2.97 Discontinued operations — — 0.07 Net income attributable to CSW Industrials, Inc. $ 4.21 $ 2.67 $ 3.04 Diluted earnings per common share: Continuing operations $ 4.20 $ 2.65 $ 2.94 Discontinued operations — — 0.07 Net income attributable to CSW Industrials, Inc. $ 4.20 $ 2.65 $ 3.01 *Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Retirement Plans (Tables)

Retirement Plans (Tables)	12 Months Ended
	Mar. 31, 2022
Retirement Benefits [Abstract]
Summary of Assumptions Related to Retirement Plan	The following are assumptions related to the Plans: March 31, 2022 2021 2020 Assumptions used to determine benefit obligations: Discount rate 4.0 % 3.3 % 3.6 % Rate of compensation increases (a) — % 3.0 % 3.0 % Assumptions used to determine net pension expense: Discount rate 3.3 % 3.6 % 4.0 % Expected return on plan assets 4.8 % 4.8 % 4.8 % Rate of compensation increases (b) 3.0 % 3.0 % 3.0 % (a) Rate of compensation increase is not relevant to the Restoration Plan and the Canadian Plan due to freezing benefit accruals. (b) Rate of compensation increase is no longer relevant to the Restoration Plan due to freezing benefit accruals. Rate of compensation increase of $3.0% was used to determine the fiscal 2022 expenses for the Canadian Plan.
Schedule of Pension Plan	Net pension (benefit) expense for the Plans was: Year Ended March 31, (in thousands) 2022 2021 2020 Service cost – benefits earned during the year $ 43 $ 40 $ 71 Interest cost on projected benefit obligation 138 144 1,136 Expected return on assets (120) (96) (1,361) Net amortization and deferral 69 74 56 Pension plan termination (a) — — 6,472 Curtailment impact (30) — — Net pension expense $ 100 $ 162 $ 6,374 (a) Reflects impact of the termination of the Qualified Plan.
Summary of Changes in Pension Obligations	The following is a summary of the changes in the Plans' pension obligations: March 31, (in thousands) 2022 2021 Benefit obligation at beginning of year $ 4,291 $ 3,880 Service cost 43 40 Interest cost 138 144 Actuarial gain (330) 212 Benefits paid (216) (265) Curtailment impact (342) — Currency translation impact 12 280 Benefit obligation at end of year $ 3,596 $ 4,291 Accumulated benefit obligation $ 3,596 $ 3,990
Summary of Reconciliation of Plan's Assets	The following is a reconciliation of the Plans' assets: March 31, (in thousands) 2022 2021 Fair value of plan assets at beginning of year $ 2,492 $ 1,898 Actual return on plan assets (6) 441 Benefits paid (110) (159) Company contributions 79 69 Currency translation impact 11 243 Fair value of plan assets at end of year $ 2,466 $ 2,492
Summary of Net Pension Asset for Retirement Plan	The following summarizes the net pension asset for the Plans March 31, (in thousands) 2022 2021 Plan assets at fair value $ 2,466 $ 2,492 Benefit obligation (3,596) (4,291) Unfunded status $ (1,130) $ (1,799)
Summary of Amounts Recognized in Balance Sheet	The following summarizes amounts recognized in the balance sheets for the Plans: March 31, (in thousands) 2022 2021 Current liabilities $ (103) $ (104) Noncurrent liabilities (1,027) (1,695) Unfunded status $ (1,130) $ (1,799)
Schedule of Change in Accumulated Other Comprehensive Loss Attributable to Components of Net Cost and Change in Benefit Obligation	The following table presents the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in the benefit obligation: March 31, (in thousands) 2022 2021 Accumulated other comprehensive loss at beginning of year $ (799) $ (871) Amortization of net loss 59 62 Amortization of prior service cost (5) (31) Curtailment impact 311 — Net gain arising during the year 154 96 Currency translation impact (86) (55) Accumulated other comprehensive loss at end of year $ (366) $ (799) Amounts recorded in accumulated other comprehensive loss consist of: March 31, (in thousands) 2022 2021 Net prior service cost $ — $ 27 Net loss (366) (826) Accumulated other comprehensive loss $ (366) $ (799)
Schedule of Plan Asset Allocations	The actual asset allocations for the Plans were as follows: March 31, Asset category 2022 2021 Fixed income securities 99 % — % Other — % 100 % Cash and cash equivalents 1 % — % Total 100 % 100 %
Summary of Expected Cash Benefit Payments	The following table summarizes the expected cash benefit payments for the Plans for fiscal years ending March 31 (in millions): 2023 $ 0.2 2024 0.2 2025 0.2 2026 0.2 2027 0.2 Thereafter 1.1

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Schedule of Income Before Income Taxes	Income from continuing operations before income taxes was comprised of the following (in thousands): Year Ended March 31, 2022 2021* 2020* U.S. Federal $ 87,607 $ 48,142 $ 53,733 Foreign 3,858 2,726 3,655 Income before income taxes $ 91,465 $ 50,868 $ 57,388 *Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
Schedule of Income Tax Expense	Income tax expense consists of the following (in thousands): For the year ended: Current Deferred Total March 31, 2022 U.S. Federal $ 20,139 $ (1,578) $ 18,561 State and local 5,271 761 6,032 Foreign 638 (1,085) (447) Provision for income taxes $ 26,048 $ (1,902) $ 24,146 March 31, 2021* U.S. Federal $ 6,773 $ (1,211) $ 5,562 State and local 3,561 (500) 3,061 Foreign 1,641 505 2,146 Provision for income taxes $ 11,975 $ (1,206) $ 10,769 March 31, 2020* U.S. Federal $ 8,466 $ 621 $ 9,087 State and local 1,999 (100) 1,899 Foreign 1,968 (222) 1,746 Provision for income taxes $ 12,433 $ 299 $ 12,732 *Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
Summary of Income Tax Expense Differed from Amounts Computed by Applying U.S. Federal Statutory Income Tax Rate to Income Before Income Taxes	Income tax expense differed from the amounts computed by applying the U.S. federal statutory income tax rate of 21.0% to income from continuing operations before income taxes as a result of the following (in thousands): Year Ended March 31, 2022 2021* 2020* Computed tax expense at statutory rate $ 19,206 $ 10,674 $ 12,044 Increase (reduction) in income taxes resulting from: State and local income taxes, net of federal benefits 4,765 2,419 1,943 Nondeductible executive compensation 992 248 — Vesting of stock-based compensation (1,916) (741) (542) Amended return items (pension and foreign withholding) — — 975 IRS audit adjustments — — 502 Global intangible low-taxed income ("GILTI") inclusion and foreign-derived intangible income ("FDII") deduction (522) 440 124 Foreign rate differential 91 85 84 Uncertain tax positions 759 (4,717) (1,615) Other permanent differences (143) 1,931 (4) Foreign tax credits (450) (554) (479) Valuation allowance 379 — — Repatriation tax, net of tax credit 170 822 — Other, net 815 162 (300) Provision for income taxes continuing operations $ 24,146 $ 10,769 $ 12,732 *Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
Summary of Tax Effects of Temporary Differences That Give Rise to Significant Portions of Deferred Tax Assets and Deferred Tax Liabilities	The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at March 31, 2022 and 2021 are presented below (in thousands): March 31, 2022 2021* Deferred tax assets: Operating lease liabilities $ 17,774 $ 14,680 Accrued compensation 4,826 3,878 Impairment 15 386 Pension and other employee benefits 412 313 Inventory reserves 3,720 1,330 Net operating loss carryforwards 145 145 Accrued expenses 1,010 244 Foreign tax credit carry-forward 379 130 State R&D credit carry-forward 75 120 Transaction Costs 714 630 Other, net 1,477 1,455 Deferred tax assets 30,547 23,311 Valuation allowance (524) (145) Deferred tax assets, net of valuation allowance 30,023 23,166 Deferred tax liabilities: Goodwill and intangible assets (64,903) (65,070) Property, plant and equipment (8,242) (7,816) Operating lease - ROU assets (16,364) (13,631) Repatriation reserve (1,034) (942) Other, net (1,986) (1,425) Deferred tax liabilities (92,529) (88,884) Net deferred tax liabilities $ (62,506) $ (65,718) *Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
Summary of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands): March 31, 2022 2021 Balance at beginning of year $ 10,212 $ 498 Increases related to prior year tax positions — 13,895 Decreases related to prior year tax positions (314) (4,215) Increases related to current year tax positions 36 34 Balance at end of year $ 9,934 $ 10,212

Other Comprehensive Income (L_2

Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Mar. 31, 2022
Equity [Abstract]
Schedule of Analysis of Changes in Accumulated Other Comprehensive Income (Loss)	The following table provides an analysis of the changes in accumulated other comprehensive loss (in thousands). March 31, 2022 2021 Currency translation adjustments: Balance at beginning of period $ (4,394) $ (9,185) Foreign currency translation adjustments (44) 4,791 Balance at end of period $ (4,438) $ (4,394) Interest rate swaps: Balance at beginning of period $ (803) $ (1,390) Unrealized gain, net of taxes of $(82) and $(96), respectively (a) 309 362 Reclassification of losses included in interest expense, net of taxes of $(60) and $(60), respectively 224 225 Other comprehensive income 533 587 Balance at end of period $ (270) $ (803) Defined benefit plans: Balance at beginning of period $ (799) $ (871) Amortization of net prior service benefit, net of taxes of $1 and $8, respectively (b) (5) (31) Amortization of net loss, net of taxes of $(16) and $(16), respectively (b) 59 62 Net gain arising during the year, net of taxes of $(41) and $(26), respectively ( b) 154 96 Curtailment impact, net of taxes of $(83) and $0, respectively (b) 311 — Currency translation impact (86) (55) Other comprehensive income 433 72 Balance at end of period $ (366) $ (799) (a) Unrealized gains are reclassified to earnings as underlying cash interest payments are made. We expect to recognize a loss of less than $0.1 million, net of deferred taxes, over the next twelve months related to a designated cash flow hedge based on its fair value as of March 31, 2022. (b) Amortization of prior service costs and actuarial losses out of accumulated other comprehensive loss are included in the computation of net periodic pension expense. See Note 15 for additional information.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	12 Months Ended
	Mar. 31, 2022
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	Disaggregation of revenues reconciled to our reportable segments is as follows (in thousands): Year Ended March 31, 2022 Contractor Solutions Engineered Building Solutions Specialized Reliability Solutions Total Build-to-order $ — $ 88,690 $ — $ 88,690 Book-and-ship 413,207 8,606 115,932 537,745 Net revenues $ 413,207 $ 97,296 $ 115,932 $ 626,435 Year Ended March 31, 2021 Contractor Solutions Engineered Building Solutions Specialized Reliability Solutions Total Build-to-order $ — $ 87,057 $ — $ 87,057 Book-and-ship 245,232 8,615 78,301 332,148 Net revenues $ 245,232 $ 95,672 $ 78,301 $ 419,205 Year Ended March 31, 2020 Contractor Solutions Engineered Building Solutions Specialized Reliability Solutions Total Build-to-order $ — $ 82,357 $ — $ 82,357 Book-and-ship 190,421 8,524 104,569 303,514 Net revenues $ 190,421 $ 90,881 $ 104,569 $ 385,871
Schedule of Contract Liabilities	Contract liabilities, which are included in accrued and other current liabilities in our consolidated balance sheets were as follows (in thousands): Balance at April 1, 2021 $ 1,018 Revenue recognized (971) New contracts and revenue added to existing contracts 979 Balance at March 31, 2022 $ 1,026

Segments (Tables)

Segments (Tables)	12 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Summary of Financial Information of Reporting Segments	The following is a summary of the financial information of our reporting segments reconciled to the amounts reported in the consolidated financial statements (in thousands). Year Ended March 31, 2022 (in thousands) Contractor Solutions Engineered Building Solutions Specialized Reliability Solutions Subtotal - Reportable Segments Eliminations and Other Total Revenues, net to external customers $ 413,207 $ 97,296 $ 115,932 $ 626,435 $ — $ 626,435 Intersegment revenue 3,280 — 110 3,390 (3,390) — Operating income 96,115 11,101 9,007 116,223 (18,843) 97,380 Depreciation and amortization 27,879 2,063 6,016 35,958 450 36,408 Year Ended March 31, 2021* (in thousands) Contractor Solutions Engineered Building Solutions Specialized Reliability Solutions Subtotal - Reportable Segments Eliminations and Other Total Revenues, net to external customers $ 245,232 $ 95,672 $ 78,301 $ 419,205 $ — $ 419,205 Intersegment revenue 296 — 64 360 (360) — Operating income 59,007 14,066 581 73,654 (14,434) 59,220 Depreciation and amortization 14,415 2,014 5,744 22,173 545 22,718 Year Ended March 31, 2020* (in thousands) Contractor Solutions Engineered Building Solutions Specialized Reliability Solutions Subtotal - Reportable Segments Eliminations and Other Total Revenues, net to external customers $ 190,421 $ 90,881 $ 104,569 $ 385,871 $ — $ 385,871 Intersegment revenue 275 — 72 347 (347) — Operating income 58,236 14,278 7,690 80,204 (14,350) 65,854 Depreciation and amortization 5,887 2,074 6,181 14,142 494 14,636 *Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements. TOTAL ASSETS (Amounts in thousands) Contractor Solutions Engineered Building Solutions Specialized Reliability Solutions Subtotal - Reportable Segments Eliminations and Other Total March 31, 2022 $ 782,267 $ 74,397 $ 126,380 $ 983,044 $ 12,316 $ 995,360 March 31, 2021* 687,508 67,281 111,493 866,282 13,240 879,522 March 31, 2020* 161,508 68,752 118,927 349,187 24,872 374,059 *Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
Schedule of Revenues and Long-Lived Assets by Geographic Area	Revenues and long-lived assets by geographic area are as follows (in thousands, except percent data): Year Ended March 31, 2022 2021 2020 U.S. $ 559,296 89.3 % $ 367,169 87.6 % $ 323,000 83.7 % Non-U.S. (a) 67,139 10.7 % 52,036 12.4 % 62,871 16.3 % Revenues, net $ 626,435 100.0 % $ 419,205 100.0 % $ 385,871 100.0 % (a) No individual country within this group represents 10% or more of consolidated totals for any period presented. Year Ended March 31, 2022 2021 2020 U.S. $ 651,477 93.7 % $ 617,258 93.5 % $ 196,679 89.7 % Non-U.S. 43,736 6.3 % 43,146 6.5 % 22,521 10.3 % Long-lived assets (a) $ 695,213 100.0 % $ 660,404 100.0 % $ 219,200 100.0 % (a) Long-lived assets consist primarily of property, plant and equipment, intangible assets, goodwill and other assets, net of deferred taxes.

Quarterly Financial Data (Una_2

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Mar. 31, 2022
Quarterly Financial Information Disclosure [Abstract]
Summary of Unaudited Quarterly Data	The following presents a summary of the unaudited quarterly data for the years ended March 31, 2022 and 2021 (amounts in millions, except per share data): Year Ended March 31, 2022 Quarter 4th 3rd 2nd 1st Revenues, net $ 173.3 $ 136.3 $ 155.6 $ 161.3 Gross profit 72.3 51.3 63.3 69.0 Income before income taxes 27.6 12.1 24.5 27.2 Net income 18.5 9.7 18.4 20.7 Net income attributable to CSW Industrials, Inc. 18.4 9.3 18.2 20.5 Earnings per share attributable to CSW Industrials, Inc. (a) Basic $ 1.17 $ 0.59 $ 1.15 $ 1.30 Diluted 1.17 0.59 1.15 1.30 Year Ended March 31, 2021* Quarter 4th 3rd 2nd 1st Revenues, net $ 133.4 $ 89.9 $ 104.9 $ 91.0 Gross profit 54.9 38.7 48.3 42.6 Income before income taxes 11.9 2.4 21.1 15.5 Net income 10.4 1.9 16.0 11.9 Net income attributable to CSW Industrials, Inc. 10.4 1.9 16.0 11.9 Earnings per share attributable to CSW Industrials, Inc. (a) Basic $ 0.66 $ 0.12 $ 1.09 $ 0.81 Diluted 0.66 0.12 1.08 0.80 *Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements. (a) Net earnings per common share is computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in weighted average quarterly shares outstanding.

Organization and Operations a_4

Organization and Operations and Summary of Significant Accounting Policies - Additional Information (Details)	Apr. 01, 2021	Mar. 31, 2022USD ($)segmentbrand	Mar. 31, 2021USD ($)		Mar. 31, 2020USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of business segments | segment		3
Highly respected industrial brands (more than) | brand		100
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for expected credit losses for short-term receivables		$ 1,177,000	$ 915,000		$ 900,000
Goodwill impairment loss		0	0		0
Impairment of intangible assets		$ 0	0	[1]	951,000	[1]
Number of business segments | segment		3
Variable Interest Entity, Primary Beneficiary | Shell | Affiliated Entity | Whitmore Manufacturing, LLC
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Interest sold (in percent)	50.00%
Selling, General and Administrative Expense
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Research and development costs		$ 4,800,000	4,500,000		$ 4,300,000
Domestic
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deposits in banks		11,300,000	6,100,000
Foreign
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deposits in banks		$ 5,300,000	$ 4,000,000
Foreign | Geographic Concentration Risk | Inventory
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage		10.00%	12.00%
[1]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Organization and Operations a_5

Organization and Operations and Summary of Significant Accounting Policies - Schedule of Property, Plant and Equipment (Details)	12 Months Ended
	Mar. 31, 2022
Minimum | Land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	5 years
Minimum | Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	7 years
Minimum | Plant, office and lab equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	5 years
Maximum | Land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	40 years
Maximum | Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	40 years
Maximum | Plant, office and lab equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	10 years

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($) $ in Thousands	Dec. 15, 2021	Dec. 15, 2020	Apr. 02, 2019	Jul. 31, 2019	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021		Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2022	Mar. 31, 2021		Mar. 31, 2020
Business Acquisition [Line Items]
Cash consideration / amount paid at closing and funded through revolving credit facility														$ 35,942	$ 287,238	[1]	$ 11,837	[1]
Goodwill					$ 224,658				$ 218,795	[2]				224,658	218,795	[2]	91,687
Indemnification expense									5,000
Additional depreciation expense														11,572	9,194	[1]	7,918	[1]
Income tax expense					9,080	$ 2,389	$ 6,170	$ 6,507	1,507		$ 550	$ 5,078	$ 3,633	24,146	10,769	[3]	12,732	[3]
Shoemaker Manufacturing
Business Acquisition [Line Items]
Percent of outstanding equity acquired	100.00%
Purchase price, amount transferred	$ 43,500
Cash consideration / amount paid at closing and funded through revolving credit facility	38,500
Cash acquired	$ 1,200
Stock consideration (in shares)	25,483
Stock consideration, value of common stock	$ 3,000
Contingent consideration	2,000
Transaction expenses incurred														700
Goodwill	8,100
Fair value of inventory acquired	3,600
Fair value of accounts receivable acquired	1,700
Cash	1,200
Fair value of equipment acquired	1,400
Fair value of prepaid expense and other assets	200
Fair value of current liabilities assumed	3,200
Shoemaker Manufacturing | Trademarks
Business Acquisition [Line Items]
Fair value of the assets acquired, indefinite-lived	6,500
Shoemaker Manufacturing | Customer Lists
Business Acquisition [Line Items]
Fair value of the assets acquired, finite-lived	$ 23,000
Assets acquired, amortization period	15 years
Shoemaker Manufacturing | Non-compete agreements
Business Acquisition [Line Items]
Fair value of the assets acquired, finite-lived	$ 700
Assets acquired, amortization period	5 years
Shoemaker Manufacturing | Backlog
Business Acquisition [Line Items]
Fair value of the assets acquired, finite-lived	$ 300
Assets acquired, amortization period	1 month
TRUaire acquisition
Business Acquisition [Line Items]
Percent of outstanding equity acquired		100.00%
Purchase price, amount transferred		$ 385,642
Cash consideration / amount paid at closing and funded through revolving credit facility		$ 287,986
Stock consideration (in shares)		849,852
Stock consideration, value of common stock		$ 97,656
Transaction expenses incurred									800					0	7,800
Goodwill		129,169			123,455									123,455
Fair value of inventory acquired		46,313			45,013									45,013
Fair value of accounts receivable acquired		13,467			13,450									13,450
Cash		1,471			1,471									1,471
Fair value of equipment acquired		$ 28,832			24,631									24,631
Assets acquired, amortization period		15 years
Amount related to uncertain tax positions taken in prior years that the seller has provided contractual indemnification to the Company for		$ 12,500			$ 7,500									$ 7,500
Tax indemnification asset released in accordance with purchase agreement									5,000
Relevant uncertain tax position accrual released and recorded as income tax benefit									5,300
Indemnification expense									$ 5,000
Additional depreciation expense															400		500
Additional interest expense as a result of incurring additional borrowing															$ 3,300		$ 4,600
Blended statutory income tax rate															24.50%		24.50%
Income tax expense															$ (3,200)		$ (8,400)
Working capital and closing cash adjustments	$ 1,000
TRUaire acquisition | Fair Value Step-Up of Inventory
Business Acquisition [Line Items]
Additional amortization expense															0		7,900
TRUaire acquisition | Customer Lists
Business Acquisition [Line Items]
Additional amortization expense															$ 9,600		$ 13,500
Petersen Metals
Business Acquisition [Line Items]
Purchase price, amount transferred			$ 11,800
Cash consideration / amount paid at closing and funded through revolving credit facility			11,500
Goodwill			6,100
Fair value of inventory acquired			800
Fair value of accounts receivable acquired			2,200
Fair value of equipment acquired			700
Fair value of current liabilities assumed			1,500
Working capital and closing cash adjustments				$ 300
Petersen Metals | Customer Lists
Business Acquisition [Line Items]
Fair value of the assets acquired, finite-lived			$ 3,200
Assets acquired, amortization period			15 years
Petersen Metals | Backlog
Business Acquisition [Line Items]
Fair value of the assets acquired, finite-lived			$ 400
Assets acquired, amortization period			1 year 6 months
[1]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[2]	*Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[3]	*Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Acquisitions - Consideration Tr

Acquisitions - Consideration Transferred (Details) - USD ($) $ in Thousands	Dec. 15, 2021	Dec. 15, 2020	Mar. 31, 2022	Mar. 31, 2021	[1]	Mar. 31, 2020	[1]
Business Acquisition [Line Items]
Cash			$ 35,942	$ 287,238		$ 11,837
TRUaire acquisition
Business Acquisition [Line Items]
Cash		$ 287,986
Common stock (849,852 shares)		$ 97,656
Stock consideration (in shares)		849,852
Purchase price, amount transferred		$ 385,642
Working capital and closing cash adjustments	$ 1,000
[1]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Acquisitions - Aggregate Fair V

Acquisitions - Aggregate Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 15, 2020	Mar. 31, 2022	Mar. 31, 2022	Mar. 31, 2021		Mar. 31, 2020
Business Acquisition [Line Items]
Tax Contingency Reserve				$ (200)
Goodwill		$ 224,658	$ 224,658	218,795	[1]	$ 91,687
Goodwill re-allocation		0
TRUaire acquisition
Business Acquisition [Line Items]
Cash	$ 1,471	1,471	1,471
Accounts Receivable, net	13,467	13,450	13,450
Measurement period adjustments, accounts receivable, net			(17)
Inventory	46,313	45,013	45,013
Measurement period adjustments, inventory			(1,300)
Short-Term Tax Indemnity Assets	5,000	5,000	5,000
Other Current Assets	1,285	3,388	3,388
Measurement period adjustments, other current assets			2,103
Property, Plant and Equipment	28,832	24,631	24,631
Measurement period adjustments, property, plant and equipment			(4,201)
Trade Name (indefinite life)	43,500	43,500	43,500
Customer Lists (useful life of 15 years)	$ 194,000	202,500	202,500
Measurement period adjustments, customer lists (useful life of 15 years)			8,500
Assets acquired, amortization period	15 years
Right-Of-Use Assets	$ 49,040	49,040	49,040
Long-Term Tax Indemnity Assets	7,500	7,500	7,500
Other Long-term Assets	2,850	2,152	2,152
Measurement period adjustments, other long-term assets			(698)
Accounts Payable	(4,074)	(4,074)	(4,074)
Accrued and Other Current Liabilities	(3,678)	(3,850)	(3,850)
Measurement period adjustments, accrued and other current liabilities			(172)
Lease Liabilities - Short-Term	(4,811)	(4,811)	(4,811)
Deferred tax liabilities	(56,249)	(60,033)	(60,033)
Measurement period adjustments, deferred tax liabilities			(3,784)
Tax Contingency Reserve	(22,511)	(17,321)	(17,321)	$ (17,300)
Measurement period adjustments, tax contingency reserve			5,190
Lease Liabilities - Long-Term	(45,369)	(45,369)	(45,369)
Estimated fair value of net assets acquired	256,566	262,187	262,187
Measurement period adjustments, estimated fair value of net assets acquired			5,621
Goodwill	129,169	123,455	123,455
Goodwill re-allocation		(2,099)	(5,714)
Business combination, recognized identifiable assets acquired, goodwill, and liabilities assumed, net	$ 385,735	$ 385,642	385,642
Measurement period adjustments, total purchase price			(93)
TRUaire acquisition | Fair Value Step-Up of Inventory
Business Acquisition [Line Items]
Measurement period adjustments, deferred tax liabilities			1,800
Goodwill re-allocation			$ 1,800
[1]	*Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Acquisitions - Unaudited Profor

Acquisitions - Unaudited Proforma Financial Information (Details) - TRUaire acquisition - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Business Acquisition [Line Items]
Revenue, net	$ 495,788	$ 480,285
Net income	$ 47,648	$ 28,492
Earnings per share attributable to CSW Industrials, Inc.
Diluted (in dollars per share)	$ 3.03	$ 1.77
Basic (in dollars per share)	$ 3.05	$ 1.79

Consolidation of Variable Int_3

Consolidation of Variable Interest Entity and Redeemable Noncontrolling Interest - Narrative (Details) - USD ($) $ in Thousands

Apr. 01, 2021

Mar. 31, 2022

Dec. 31, 2021

Sep. 30, 2021

Jun. 30, 2021

Mar. 31, 2021

Dec. 31, 2020

Sep. 30, 2020

Jun. 30, 2020

Mar. 31, 2022

Mar. 31, 2021

[1]

Mar. 31, 2020

[1]

Variable Interest Entity [Line Items]

Net income

$ 18,446

$ 9,306

$ 18,171

$ 20,462

$ 10,356

$ 1,859

$ 16,033

$ 11,852

$ 66,385

$ 40,099

$ 45,717

Variable Interest Entity, Primary Beneficiary | Affiliated Entity | Whitmore JV

Variable Interest Entity [Line Items]

Interest sold (in percent)

50.00%

Net income

$ 1,900

Initiating member's equity interest

90.00%

Period of written notice

3 years

Variable Interest Entity, Primary Beneficiary | Shell | Affiliated Entity | Whitmore Manufacturing, LLC

Variable Interest Entity [Line Items]

Interest sold (in percent)

50.00%

Consideration received

$ 13,400

Proceeds from sale of variable interest entity

5,300

Intangible assets received on disposal of variable interest entity

$ 8,100

[1]

*Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Consolidation of Variable Int_4

Consolidation of Variable Interest Entity and Redeemable Noncontrolling Interest - Variable Interest Entities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	[1]	Mar. 31, 2020
Variable Interest Entity [Line Items]
Cash and cash equivalents	$ 16,619	$ 10,088
Inventories, net	150,114	102,651		$ 58,567
Prepaid expenses and other current assets	10,610	9,684
Property, plant and equipment, net	87,032	82,554
Intangible assets, net	300,837	283,060
Total assets	995,360	879,522		$ 374,059
Other long-term liabilities	140,306	137,853
Total liabilities	510,949	$ 464,072
Variable Interest Entity, Primary Beneficiary | Whitmore JV | Affiliated Entity
Variable Interest Entity [Line Items]
Cash and cash equivalents	5,505
Accounts receivable, net	7,653
Inventories, net	1,663
Prepaid expenses and other current assets	6
Property, plant and equipment, net	7,014
Intangible assets, net	7,288
Other assets	121
Total assets	29,250
Accounts payable	5,401
Accrued and other current liabilities	1,306
Other long-term liabilities	51
Total liabilities	$ 6,758
[1]	*Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Consolidation of Variable Int_5

Consolidation of Variable Interest Entity and Redeemable Noncontrolling Interest - Redeemable Noncontrolling Interest- (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2022USD ($)
Redeemable Noncontrolling Interest, Equity [Roll Forward]
Beginning balance	$ 0	[1]
Ending balance	15,325
Variable Interest Entity, Primary Beneficiary
Redeemable Noncontrolling Interest, Equity [Roll Forward]
Beginning balance	0
Fair value of redeemable noncontrolling interest at formation-date	13,391
Net income attributable to redeemable noncontrolling interest	934
Contributions from noncontrolling interest	1,000
Adjustments to redemption value	0
Ending balance	$ 15,325
[1]	*Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Details) - USD ($)	3 Months Ended	12 Months Ended
	Sep. 30, 2018	Mar. 31, 2022	Mar. 31, 2021		Mar. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of assets		$ 139,000	$ 30,000	[1]	$ 1,292,000	[1]
Gain on disposition of intangible assets	$ 6,900,000
Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets		0	0
Liabilities		0	$ 0
Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of assets	$ 6,900,000
Gains on disposal due to write-downs of long-lived assets in prior periods		$ 1,500,000			$ 1,500,000
[1]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Discontinued Operations - Incom

Discontinued Operations - Income Statement (Details) - Discontinued Operations, Disposed of by Sale - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues, net	$ 0	$ 0	$ 0
Gain from discontinued operations before income taxes	0	0	1,326
Income tax expense	0	0	(265)
Gain from discontinued operations	$ 0	$ 0	$ 1,061

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets - Additional Information (Detail) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2021segment	Mar. 31, 2022USD ($)	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Number of reportable segments | segment	3
Amortization of intangible assets		$ 24.8	$ 10.5	$ 6.7
Amortization of inventory purchase accounting adjustment		$ 3.9

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets - Schedule of Changes in Carrying Amount of Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended				16 Months Ended
	Mar. 31, 2022		Mar. 31, 2021		Mar. 31, 2022
Goodwill [Roll Forward]
Beginning balance	$ 218,795	[1]	$ 91,687
Goodwill re-allocation	0
Currency translation	(153)		1,554
Ending balance	224,658		218,795	[1]	$ 224,658
TRUaire acquisition
Goodwill [Roll Forward]
Goodwill, acquired			125,554
Goodwill re-allocation	(2,099)				(5,714)
Ending balance	123,455				123,455
Shoemaker acquisition
Goodwill [Roll Forward]
Goodwill, acquired	8,115
Contractor Solutions
Goodwill [Roll Forward]
Beginning balance	169,345		43,610
Goodwill re-allocation	14,813
Currency translation	(22)		181
Ending balance	190,152		169,345		190,152
Contractor Solutions | TRUaire acquisition
Goodwill [Roll Forward]
Goodwill, acquired			125,554
Goodwill re-allocation	(2,099)
Contractor Solutions | Shoemaker acquisition
Goodwill [Roll Forward]
Goodwill, acquired	8,115
Engineered Building Solutions
Goodwill [Roll Forward]
Beginning balance	22,238		21,237
Goodwill re-allocation	2,727
Currency translation	42		1,001
Ending balance	25,007		22,238		25,007
Engineered Building Solutions | TRUaire acquisition
Goodwill [Roll Forward]
Goodwill, acquired			0
Goodwill re-allocation	0
Engineered Building Solutions | Shoemaker acquisition
Goodwill [Roll Forward]
Goodwill, acquired	0
Specialized Reliability Solutions
Goodwill [Roll Forward]
Beginning balance	27,212		26,840
Goodwill re-allocation	(17,540)
Currency translation	(173)		372
Ending balance	9,499		27,212		$ 9,499
Specialized Reliability Solutions | TRUaire acquisition
Goodwill [Roll Forward]
Goodwill, acquired			$ 0
Goodwill re-allocation	0
Specialized Reliability Solutions | Shoemaker acquisition
Goodwill [Roll Forward]
Goodwill, acquired	$ 0
[1]	*Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Finite-Lived Intangible Assets, Net [Abstract]
Ending Gross Amount	$ 313,388	$ 282,282
Accumulated Amortization	(73,648)	(53,816)
Trade names and trademarks not being amortized:
Indefinite-lived Intangible Assets [Line Items]
Ending Gross Amount	$ 61,097	54,594
Patents
Finite-Lived Intangible Assets [Line Items]
Wtd Avg Life (Years)	11 years
Finite-Lived Intangible Assets, Net [Abstract]
Ending Gross Amount	$ 9,417	9,461
Accumulated Amortization	$ (8,065)	(7,540)
Customer lists and amortized trademarks
Finite-Lived Intangible Assets [Line Items]
Wtd Avg Life (Years)	14 years
Finite-Lived Intangible Assets, Net [Abstract]
Ending Gross Amount	$ 297,909	267,096
Accumulated Amortization	$ (61,368)	(42,345)
Non-compete agreements
Finite-Lived Intangible Assets [Line Items]
Wtd Avg Life (Years)	5 years
Finite-Lived Intangible Assets, Net [Abstract]
Ending Gross Amount	$ 939	982
Accumulated Amortization	$ (258)	(790)
Other
Finite-Lived Intangible Assets [Line Items]
Wtd Avg Life (Years)	8 years
Finite-Lived Intangible Assets, Net [Abstract]
Ending Gross Amount	$ 5,123	4,743
Accumulated Amortization	$ (3,957)	$ (3,141)

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets - Schedule of Estimated Future Amortization of Finite-lived Intangible Assets (Details) $ in Thousands	Mar. 31, 2022USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 18,877
2024	18,403
2025	17,668
2026	17,062
2027	16,294
Thereafter	151,436
Total	$ 239,740

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) - Stock Compensation Plan - Equity And Incentive Compensation 2015 Plan - shares	Mar. 31, 2022	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock granted (in shares)		1,230,000
Shares available for issuance (in shares)	512,782

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of Share-Based Compensation (Details) - Restricted Stock - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 8,450	$ 5,085	$ 5,074
Related income tax benefit	(2,197)	(1,220)	(1,218)
Net share-based compensation expense	$ 6,253	$ 3,865	$ 3,856

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Option Activity (Details) - Share-based Payment Arrangement, Option - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Number of Shares
Outstanding at beginning of period (in shares)	63,413	115,858
Exercised (in shares)	(52,613)	(52,445)
Outstanding at end of period (in shares)	10,800	63,413
Exercisable at end of period (in shares)	10,800	63,413
Weighted Average Exercise Price
Outstanding at beginning of period (in USD per share)	$ 25.23	$ 25.30
Exercised (in USD per share)	25.23	25.40
Outstanding at end of period (in USD per share)	25.23	25.23
Exercisable at end of period (in USD per share)	$ 25.23	$ 25.23
Outstanding, remaining contractual life	2 years 4 months 24 days	3 years 4 months 24 days
Exercisable, remaining contractual life	2 years 4 months 24 days	3 years 4 months 24 days
Outstanding, aggregate intrinsic value	$ 1	$ 7
Exercisable, aggregate intrinsic value	$ 1	$ 7

Share-Based Compensation - St_2

Share-Based Compensation - Stock Option Activity, Additional Information (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 [Line Items]
Cash received for options exercised	$ 1,327	$ 1,330	[1]	$ 0	[1]
Share-based Payment Arrangement, Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	0	0		0
Vested (in shares)	0	0		0
Exercises in period, intrinsic value	$ 5,800	$ 2,500		$ 5,600
Cash received for options exercised	1,300	1,300		2,900
Tax benefit from options exercised	$ 1,400	$ 400		$ 1,200
[1]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Share-Based Compensation - Rest

Share-Based Compensation - Restricted Stock Activity (Details) - Restricted Stock	12 Months Ended
	Mar. 31, 2022$ / sharesshares
Number of Shares
Outstanding at beginning of period (in shares) | shares	172,916
Granted (in shares) | shares	164,864
Vested (in shares) | shares	(106,929)
Canceled (in shares) | shares	(2,520)
Outstanding at end of period (in shares) | shares	228,331
Weighted Average Grant Date Fair Value
Outstanding at beginning of period (in USD per share) | $ / shares	$ 70.50
Granted (in USD per share) | $ / shares	161
Vested (in USD per share) | $ / shares	63.44
Canceled (in USD per share) | $ / shares	90.60
Outstanding at end of period (in USD per share) | $ / shares	$ 126.02

Share-Based Compensation - Re_2

Share-Based Compensation - Restricted Stock Activity, Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2021	Mar. 31, 2022	Mar. 31, 2021
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock/units granted (in shares)		164,864
Unvested restricted shares outstanding (in shares)		228,331	172,916
Unrecognized compensation costs related to unvested restricted shares		$ 20.1
Weighted average vesting period		3 years 4 months 24 days
Fair value of restricted shares vested		$ 14.2	$ 8.5
Restricted Stock | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock/units granted (in shares)	31,496
Restricted Stock Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested restricted shares outstanding (in shares)		102,360	82,728
Restricted Stock Performance Shares | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock/units granted (in shares)	27,559
Restricted Stock Performance Shares | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based vesting range		0.00%
Restricted Stock Performance Shares | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based vesting range		200.00%
Restricted Stock Performance Shares | Cliff Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock/units granted (in shares)		47,845	34,245
Vesting period		36 months
Restricted Stock Performance Shares | Cliff Vesting | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based vesting range		0.00%
Restricted Stock Performance Shares | Cliff Vesting | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based vesting range		200.00%
Restricted Stock Units (RSUs) | Chief Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock/units granted (in shares)	19,685

Inventory - Narrative (Details)

Inventory - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	[1]	Mar. 31, 2020	Mar. 31, 2019
Inventory [Line Items]
Retained earnings	$ 407,522	$ 350,670		$ 318,703
Cumulative Effect, Period of Adoption, Adjustment
Inventory [Line Items]
Retained earnings					$ 3,800
[1]	*Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Inventory -Schedule of Inventor

Inventory -Schedule of Inventories, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021		Mar. 31, 2020
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 46,136	$ 27,416
Work in process	7,471	6,365
Finished goods	100,792	72,452
Total inventories	154,399	106,233
Less: Obsolescence reserve	(4,285)	(3,582)
Inventories, net	$ (150,114)	$ (102,651)	[1]	$ (58,567)
[1]	*Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Inventory - Condensed Consolida

Inventory - Condensed Consolidated Financial Statements Adjusted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2022	Mar. 31, 2021		Mar. 31, 2020
Change in Accounting Estimate [Line Items]
Cost of sales	$ 100,957	$ 84,943	$ 92,333	$ 92,240	$ 78,430	$ 51,240	$ 56,629	$ 48,355	$ 370,473	$ 234,655	[1]	$ 209,034	[1]
Income before income taxes	27,605	12,139	24,529	27,193	11,864	2,410	21,111	15,484	91,465	50,868	[1]	57,388	[1]
Income tax expense	9,080	2,389	6,170	6,507	1,507	550	5,078	3,633	24,146	10,769	[1]	12,732	[1]
Net income	18,525	9,750	18,359	20,686	10,356	1,859	16,033	11,852	67,319	40,099	[1],[2]	45,717	[1],[3]
Less: Comprehensive income attributable to redeemable noncontrolling interest									(934)	0	[3]	0	[3]
Income attributable to redeemable noncontrolling interest	(79)	(444)	(188)	(224)	0	0	0	0	(934)	0	[1]	0	[1]
Net income attributable to CSW Industrials, Inc.	$ 18,446	$ 9,306	$ 18,171	$ 20,462	$ 10,356	$ 1,859	$ 16,033	$ 11,852	$ 66,385	$ 40,099	[1]	$ 45,717	[1]
Earnings per share attributable to CSW Industrials, Inc.
Basic (in USD per share)	$ 1.17	$ 0.59	$ 1.15	$ 1.30	$ 0.66	$ 0.12	$ 1.09	$ 0.81	$ 4.21	$ 2.67	[1]	$ 3.04	[1]
Diluted (in USD per share)	$ 1.17	$ 0.59	$ 1.15	$ 1.30	$ 0.66	$ 0.12	$ 1.08	$ 0.80	$ 4.20	$ 2.65	[1]	$ 3.01	[1]
Consolidated Statements of Comprehensive Income
Net income	$ 18,525	$ 9,750	$ 18,359	$ 20,686	$ 10,356	$ 1,859	$ 16,033	$ 11,852	$ 67,319	$ 40,099	[1],[2]	$ 45,717	[1],[3]
Net income attributable to CSW Industrials, Inc.	18,446	9,306	18,171	20,462	10,356	1,859	16,033	11,852	66,385	40,099	[1]	45,717	[1]
Total comprehensive income attributable to CSW Industrials, Inc.									67,307	45,549	[3]	45,000	[3]
As Computed Under LIFO
Change in Accounting Estimate [Line Items]
Cost of sales	101,749	86,244	92,533	92,668	79,396	50,594	56,204	48,211	373,194	234,405		208,821
Income before income taxes	26,813	10,837	24,329	26,765	10,898	3,056	21,536	15,628	88,744	51,118		57,601
Income tax expense	8,835	2,068	6,121	6,401	1,270	709	5,182	3,668	23,426	10,830		12,784
Net income	17,979	8,769	18,208	20,363	9,628	2,346	16,353	11,960	65,318	40,287		45,877
Less: Comprehensive income attributable to redeemable noncontrolling interest									(1,073)
Income attributable to redeemable noncontrolling interest	(88)	(458)	(212)	(315)	0	0	0	0	(1,073)
Net income attributable to CSW Industrials, Inc.	$ 17,891	$ 8,311	$ 17,995	$ 20,048	$ 9,628	$ 2,346	$ 16,353	$ 11,960	$ 64,245	$ 40,287		$ 45,877
Earnings per share attributable to CSW Industrials, Inc.
Basic (in USD per share)	$ 1.13	$ 0.53	$ 1.14	$ 1.28	$ 0.62	$ 0.16	$ 1.11	$ 0.81	$ 4.08	$ 2.68		$ 3.05
Diluted (in USD per share)	$ 1.13	$ 0.52	$ 1.14	$ 1.27	$ 0.61	$ 0.16	$ 1.10	$ 0.81	$ 4.06	$ 2.66		$ 3.02
Consolidated Statements of Comprehensive Income
Net income	$ 17,979	$ 8,769	$ 18,208	$ 20,363	$ 9,628	$ 2,346	$ 16,353	$ 11,960	$ 65,318	$ 40,287		$ 45,877
Net income attributable to CSW Industrials, Inc.	17,891	8,311	17,995	20,048	9,628	2,346	16,353	11,960	64,245	40,287		45,877
Total comprehensive income attributable to CSW Industrials, Inc.									65,167	45,738		45,160
Effect of Change
Change in Accounting Estimate [Line Items]
Cost of sales	(792)	(1,301)	(200)	(428)	(966)	646	425	144	(2,721)	250		213
Income before income taxes	792	1,302	200	428	966	(646)	(425)	(144)	2,721	(250)		(213)
Income tax expense	245	321	49	106	237	(159)	(104)	(35)	720	(61)		(52)
Net income	546	981	151	323	728	(487)	(320)	(108)	2,001	(188)		(160)
Less: Comprehensive income attributable to redeemable noncontrolling interest									139
Income attributable to redeemable noncontrolling interest	9	14	24	91	0	0	0	0	139
Net income attributable to CSW Industrials, Inc.	$ 555	$ 995	$ 176	$ 414	$ 728	$ (487)	$ (320)	$ (108)	$ 2,140	$ (188)		$ (160)
Earnings per share attributable to CSW Industrials, Inc.
Basic (in USD per share)	$ 0.04	$ 0.06	$ 0.01	$ 0.02	$ 0.04	$ (0.04)	$ (0.02)	$ 0	$ 0.13	$ (0.01)		$ (0.01)
Diluted (in USD per share)	$ 0.04	$ 0.07	$ 0.01	$ 0.03	$ 0.05	$ (0.04)	$ (0.02)	$ (0.01)	$ 0.14	$ (0.01)		$ (0.01)
Consolidated Statements of Comprehensive Income
Net income	$ 546	$ 981	$ 151	$ 323	$ 728	$ (487)	$ (320)	$ (108)	$ 2,001	$ (188)		$ (160)
Net income attributable to CSW Industrials, Inc.	$ 555	$ 995	$ 176	$ 414	$ 728	$ (487)	$ (320)	$ (108)	2,140	(188)		(160)
Total comprehensive income attributable to CSW Industrials, Inc.									$ 2,140	$ (189)		$ (160)
[1]	*Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[2]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[3]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Inventory - Financial Statement

Inventory - Financial Statement Line Items Within The Accompanying Financial Statements (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended									12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021		Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2022	Mar. 31, 2021		Mar. 31, 2020		Mar. 31, 2019
Consolidated Balance Sheets
Inventories, net	$ 150,114				$ 102,651	[1]				$ 150,114	$ 102,651	[1]	$ 58,567
Redeemable noncontrolling interest	15,325				0	[1]				15,325	0	[1]
Retained earnings	407,522				350,670	[1]				407,522	350,670	[1]	318,703
Consolidated Statement of Cash Flows
Net income	18,525	$ 9,750	$ 18,359	$ 20,686	10,356		$ 1,859	$ 16,033	$ 11,852	67,319	40,099	[2],[3]	45,717	[2],[4]
Net deferred taxes										(3,261)	(1,798)	[3]	486	[3]
Provision for inventory reserves										(1,553)	(1,558)	[3]	(184)	[3]
Consolidated Statement of Operations and Income
Cost of sales	100,957	84,943	92,333	92,240	78,430		51,240	56,629	48,355	370,473	234,655	[2]	209,034	[2]
Income before income taxes	27,605	12,139	24,529	27,193	11,864		2,410	21,111	15,484	91,465	50,868	[2]	57,388	[2]
Income tax expense	9,080	2,389	6,170	6,507	1,507		550	5,078	3,633	24,146	10,769	[2]	12,732	[2]
Net income	18,525	9,750	18,359	20,686	10,356		1,859	16,033	11,852	67,319	40,099	[2],[3]	45,717	[2],[4]
Income attributable to redeemable noncontrolling interest	(79)	(444)	(188)	(224)	0		0	0	0	(934)	0	[2]	0	[2]
Net income attributable to CSW Industrials, Inc.	$ 18,446	$ 9,306	$ 18,171	$ 20,462	$ 10,356		$ 1,859	$ 16,033	$ 11,852	$ 66,385	$ 40,099	[2]	$ 45,717	[2]
Earnings per share attributable to CSW Industrials, Inc.
Basic (in USD per share)	$ 1.17	$ 0.59	$ 1.15	$ 1.30	$ 0.66		$ 0.12	$ 1.09	$ 0.81	$ 4.21	$ 2.67	[2]	$ 3.04	[2]
Diluted (in USD per share)	$ 1.17	$ 0.59	$ 1.15	$ 1.30	$ 0.66		$ 0.12	$ 1.08	$ 0.80	$ 4.20	$ 2.65	[2]	$ 3.01	[2]
Other Noncurrent Liabilities
Consolidated Balance Sheets
Deferred tax liabilities	$ 62,810				$ 67,180					$ 62,810	$ 67,180		$ 5,037
Cumulative Effect, Period of Adoption, Adjustment
Consolidated Balance Sheets
Retained earnings															$ 3,800
As Computed Under LIFO
Consolidated Balance Sheets
Inventories, net	142,828				98,086					142,828	98,086		53,753
Redeemable noncontrolling interest	15,464									15,464
Retained earnings	401,945				347,234					401,945	347,234		315,078
Consolidated Statement of Cash Flows
Net income	17,979	$ 8,769	$ 18,208	$ 20,363	9,628		$ 2,346	$ 16,353	$ 11,960	65,318	40,287		45,877
Net deferred taxes										(3,981)	(1,737)		537
Provision for inventory reserves										(4,274)	(1,308)		28
Consolidated Statement of Operations and Income
Cost of sales	101,749	86,244	92,533	92,668	79,396		50,594	56,204	48,211	373,194	234,405		208,821
Income before income taxes	26,813	10,837	24,329	26,765	10,898		3,056	21,536	15,628	88,744	51,118		57,601
Income tax expense	8,835	2,068	6,121	6,401	1,270		709	5,182	3,668	23,426	10,830		12,784
Net income	17,979	8,769	18,208	20,363	9,628		2,346	16,353	11,960	65,318	40,287		45,877
Income attributable to redeemable noncontrolling interest	(88)	(458)	(212)	(315)	0		0	0	0	(1,073)
Net income attributable to CSW Industrials, Inc.	$ 17,891	$ 8,311	$ 17,995	$ 20,048	$ 9,628		$ 2,346	$ 16,353	$ 11,960	$ 64,245	$ 40,287		$ 45,877
Earnings per share attributable to CSW Industrials, Inc.
Basic (in USD per share)	$ 1.13	$ 0.53	$ 1.14	$ 1.28	$ 0.62		$ 0.16	$ 1.11	$ 0.81	$ 4.08	$ 2.68		$ 3.05
Diluted (in USD per share)	$ 1.13	$ 0.52	$ 1.14	$ 1.27	$ 0.61		$ 0.16	$ 1.10	$ 0.81	$ 4.06	$ 2.66		$ 3.02
As Computed Under LIFO | Other Noncurrent Liabilities
Consolidated Balance Sheets
Deferred tax liabilities	$ 60,962				$ 66,052					$ 60,962	$ 66,052		$ 3,848
Effect of Change
Consolidated Balance Sheets
Inventories, net	7,286				4,565					7,286	4,565		4,814
Redeemable noncontrolling interest	(139)									(139)
Retained earnings	5,577				3,436					5,577	3,436		3,625
Consolidated Statement of Cash Flows
Net income	546	$ 981	$ 151	$ 323	728		$ (487)	$ (320)	$ (108)	2,001	(188)		(160)
Net deferred taxes										720	(61)		(51)
Provision for inventory reserves										2,721	(250)		(212)
Consolidated Statement of Operations and Income
Cost of sales	(792)	(1,301)	(200)	(428)	(966)		646	425	144	(2,721)	250		213
Income before income taxes	792	1,302	200	428	966		(646)	(425)	(144)	2,721	(250)		(213)
Income tax expense	245	321	49	106	237		(159)	(104)	(35)	720	(61)		(52)
Net income	546	981	151	323	728		(487)	(320)	(108)	2,001	(188)		(160)
Income attributable to redeemable noncontrolling interest	9	14	24	91	0		0	0	0	139
Net income attributable to CSW Industrials, Inc.	$ 555	$ 995	$ 176	$ 414	$ 728		$ (487)	$ (320)	$ (108)	$ 2,140	$ (188)		$ (160)
Earnings per share attributable to CSW Industrials, Inc.
Basic (in USD per share)	$ 0.04	$ 0.06	$ 0.01	$ 0.02	$ 0.04		$ (0.04)	$ (0.02)	$ 0	$ 0.13	$ (0.01)		$ (0.01)
Diluted (in USD per share)	$ 0.04	$ 0.07	$ 0.01	$ 0.03	$ 0.05		$ (0.04)	$ (0.02)	$ (0.01)	$ 0.14	$ (0.01)		$ (0.01)
Effect of Change | Other Noncurrent Liabilities
Consolidated Balance Sheets
Deferred tax liabilities	$ 1,848				$ 1,128					$ 1,848	$ 1,128		$ 1,189
[1]	*Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[2]	*Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[3]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[4]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Details of Certain Consolidat_3

Details of Certain Consolidated Balance Sheet Captions - Schedule of Accounts Receivable (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021		Mar. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 123,981	$ 97,610
Less: Allowance for doubtful accounts	(1,177)	(915)		$ (900)
Accounts receivable, net	122,804	96,695	[1]
Accounts receivable trade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	120,603	93,366
Other receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 3,378	$ 4,244
[1]	*Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Details of Certain Consolidat_4

Details of Certain Consolidated Balance Sheet Captions - Schedule of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021		Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Land and improvements	$ 3,226	$ 3,168
Buildings and improvements	53,346	53,020
Plant, office and laboratory equipment	99,770	95,848
Construction in progress	11,083	3,462
Property, plant and equipment, gross	167,425	155,498
Less: Accumulated depreciation	(80,393)	(72,944)
Property, plant and equipment, net	87,032	82,554	[1]
Property, Plant and Equipment [Line Items]
Depreciation	11,572	9,194	[2]	$ 7,918	[2]
Cost of revenue, depreciation	8,300	7,100		6,600
Property, Plant and Equipment
Property, Plant and Equipment [Line Items]
Depreciation	$ 11,600	$ 9,200		$ 7,900
[1]	*Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[2]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Details of Certain Consolidat_5

Details of Certain Consolidated Balance Sheet Captions - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Right-of-use lease assets	$ 67,076	$ 61,707
Property held for investment	418	967
Deferred income taxes	304	1,462
Long-term tax indemnification assets	7,500	7,500
Other	7,388	4,359
Other assets	$ 82,686	75,995	[1]
Assets held for sale		$ 500
[1]	*Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Details of Certain Consolidat_6

Details of Certain Consolidated Balance Sheet Captions - Schedule of Accrued and Other Current Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Compensation and related benefits	$ 21,617	$ 19,120
Rebates and marketing agreements	16,340	9,031
Operating lease liabilities	9,269	8,063
Billings in excess of costs	1,026	1,018
Non-income taxes	1,949	1,593
Income taxes payable	4,266	3,755
Other accrued expenses	14,538	7,163
Accrued and other current liabilities	$ 69,005	$ 49,743	[1]
[1]	*Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Details of Certain Consolidat_7

Details of Certain Consolidated Balance Sheet Captions - Schedule of Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Operating lease liabilities	$ 63,275	$ 56,709
Deferred income taxes	62,810	67,180
Tax Reserve	13,987	13,228
Other	234	736
Other long-term liabilities	$ 140,306	$ 137,853	[1]
[1]	*Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Long-Term Debt and Commitment_2

Long-Term Debt and Commitments - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Debt Instrument [Line Items]
Total debt	$ 252,775	$ 242,337
Less: Current portion	(561)	(561)	[1]
Long-term debt	$ 252,214	$ 241,776	[1]
Secured Term Loan | Whitmore Manufacturing, LLC
Debt Instrument [Line Items]
Interest rate	2.45%	2.11%
Whitmore term loan, interest rate of 2.45% and 2.11%, respectively	$ 9,775	$ 10,337
Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate	1.95%	2.11%
Revolving Credit Facility, interest rate of 1.95% and 2.11%, respectively	$ 243,000	$ 232,000
[1]	*Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Long-Term Debt and Commitment_3

Long-Term Debt and Commitments - Revolving Credit Agreement (Details) - USD ($)	May 18, 2021	Dec. 11, 2015	Mar. 31, 2022	Mar. 31, 2021	Dec. 01, 2020	Sep. 15, 2017
Revolving Credit Facility
Debt Instrument [Line Items]
Percentage of voting equity interests in first-tier foreign subsidiaries	65.00%
Revolving credit facility, amount outstanding			$ 243,000,000	$ 232,000,000
Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Debt instrument term		5 years
Maximum borrowing capacity	$ 400,000,000	$ 250,000,000			$ 300,000,000
Accordion feature		$ 50,000,000
Line of credit facility, maximum borrowing capacity, sublimit						$ 125,000,000
Maximum leverage ratio	3
Maximum leverage ratio during permitted acquisition period	3.75
Duration of temporary increase for maximum leverage ratio	18 months
Minimum fixed charge coverage ratio	1.25
Revolving credit facility, amount outstanding			243,000,000	232,000,000
Revolving credit facility, remaining borrowing capacity			$ 157,000,000	$ 68,000,000
Revolving Credit Facility | Federal Funds Effective Rate
Debt Instrument [Line Items]
Spread on interest rate	0.50%
Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Spread on interest rate	1.00%
Letter of Credit | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 25,000,000
Swingline Loans | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 10,000,000

Long-Term Debt and Commitment_4

Long-Term Debt and Commitments - Whitmore Term Loan (Details) - Secured Term Loan - Whitmore Manufacturing, LLC - USD ($)	Mar. 31, 2022	Mar. 31, 2021
Debt Instrument [Line Items]
Debt instrument, periodic principal payment	$ 140,000
Outstanding borrowings under term loan	$ 9,775,000	$ 10,337,000
LIBOR
Debt Instrument [Line Items]
Spread on interest rate	2.00%

Long-Term Debt and Commitment_5

Long-Term Debt and Commitments - Aggregate Maturities of Long-Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Debt Disclosure [Abstract]
2023	$ 561
2024	561
2025	561
2026	561
2027	243,561
Thereafter	6,970
Total debt	$ 252,775	$ 242,337

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	1 Months Ended
	Oct. 31, 2019USD ($)lease	Mar. 31, 2022
Lessee, Lease, Description [Line Items]
Number of operating leases terminated | lease	2
Early lease termination fee | $	$ 0.5
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term		1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term		26 years

Leases - Components of Operatin

Leases - Components of Operating Lease Expenses (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating lease expense	$ 9,893	$ 5,243
Short-term lease expense	326	377
Total operating lease expense	$ 10,219	$ 5,620

Leases - Operating Lease Assets

Leases - Operating Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
ROU assets, net	$ 67,076	$ 61,707
Short-term lease liabilities	9,269	8,063
Long-term lease liabilities	63,275	56,709
Total operating lease liabilities	$ 72,544	$ 64,772
Operating lease, right-of-use asset, statement of financial position [Extensible List]	Other assets	Other assets
Operating lease, liability, current, statement of financial position [Extensible List]	Accrued and other current liabilities	Accrued and other current liabilities
Operating lease, liability, noncurrent, statement of financial position [Extensible List]	Other long-term liabilities	Other long-term liabilities

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Cash paid for amounts included in the measurement of operating lease liabilities	$ 9,974	$ 5,578
ROU assets obtained in exchange for new operating lease obligations	$ 8,464	$ 114

Leases - Other Information for

Leases - Other Information for Operating Leases (Details)	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Weighted average remaining lease term (in years)	7 years 10 months 24 days	8 years 2 months 12 days
Weighted average discount rate (percent)	2.20%	2.60%

Leases - Maturities of Operatin

Leases - Maturities of Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
2023	$ 10,723
2024	10,640
2025	10,465
2026	10,142
2027	9,920
Thereafter	27,324
Total lease liabilities	79,214
Less: Imputed interest	(6,670)
Present value of lease liabilities	$ 72,544	$ 64,772

Derivative Instruments and He_3

Derivative Instruments and Hedge Accounting - Additional Information (Details) - Interest Rate Swap - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative [Line Items]
Notional amount	$ 9.8	$ 10.3
Maximum remaining length of interest rate swap contract	7 years 3 months 18 days

Derivative Instruments and He_4

Derivative Instruments and Hedge Accounting - Fair Value of Derivatives (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Derivatives, Fair Value [Line Items]
Current derivative liabilities	$ 69,005	$ 49,743	[1]
Non-current derivative liabilities	140,306	137,853	[1]
Hedging Instrument | Interest Rate Swap
Derivatives, Fair Value [Line Items]
Current derivative liabilities	109	280
Non-current derivative liabilities	$ 233	$ 736
[1]	*Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2022	Mar. 31, 2021		Mar. 31, 2020
Earnings Per Share [Abstract]
Income from continuing operations									$ 67,319	$ 40,099	[1],[2]	$ 44,656	[1],[2]
Income from discontinued operations, net of tax									0	0	[1],[2]	1,061	[1],[2]
Income attributable to redeemable noncontrolling interest	$ 79	$ 444	$ 188	$ 224	$ 0	$ 0	$ 0	$ 0	934	0	[1]	0	[1]
Net income attributable to CSW Industrials, Inc.	$ 18,446	$ 9,306	$ 18,171	$ 20,462	$ 10,356	$ 1,859	$ 16,033	$ 11,852	$ 66,385	$ 40,099	[1]	$ 45,717	[1]
Weighted average shares:
Common stock (in shares)									15,646	14,919		14,928
Participating securities (in shares)									109	96		111
Denominator for basic earnings per common share (in shares)									15,755	15,015	[1]	15,039	[1]
Potentially dilutive securities (in shares)									52	111		167
Denominator for diluted earnings per common share (in shares)									15,807	15,126	[1]	15,206	[1]
Basic earnings per common share:
Continuing operations (in USD per share)									$ 4.21	$ 2.67	[1]	$ 2.97	[1]
Discontinued operations (in USD per share)									0	0	[1]	0.07	[1]
Basic (in USD per share)	$ 1.17	$ 0.59	$ 1.15	$ 1.30	$ 0.66	$ 0.12	$ 1.09	$ 0.81	4.21	2.67	[1]	3.04	[1]
Diluted earnings per common share:
Continuing operations (in USD per share)									4.20	2.65	[1]	2.94	[1]
Discontinued operations (in USD per share)									0	0	[1]	0.07	[1]
Net income (in USD per share)	$ 1.17	$ 0.59	$ 1.15	$ 1.30	$ 0.66	$ 0.12	$ 1.08	$ 0.80	$ 4.20	$ 2.65	[1]	$ 3.01	[1]
[1]	*Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[2]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Shareholders' Equity (Details)

Shareholders' Equity (Details) - USD ($)	Apr. 14, 2022	Apr. 15, 2021	Apr. 04, 2019	Nov. 07, 2018	Mar. 31, 2022	Mar. 31, 2021		Mar. 31, 2020	[1]	Oct. 30, 2020
Equity, Class of Treasury Stock [Line Items]
Approved quarterly dividend rate (in USD per share)			$ 0.135		$ 0.17
Dividend declared (in USD per share)		$ 0.15
Dividends paid					$ 9,459,000	$ 8,083,000	[1]	$ 8,130,000
Subsequent Event
Equity, Class of Treasury Stock [Line Items]
Dividend declared (in USD per share)	$ 0.17
2018 Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Authorized repurchase amount				$ 75,000,000
Repurchase program period in force				2 years
Shares repurchased (in shares)						115,151
Repurchased amount						$ 7,300,000
2020 Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Authorized repurchase amount										$ 100,000,000
Shares repurchased (in shares)					126,115
Repurchased amount					$ 14,400,000
[1]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Retirement Plans - Additional I

Retirement Plans - Additional Information (Details) - USD ($)	1 Months Ended		3 Months Ended	6 Months Ended	12 Months Ended
	Sep. 30, 2019	Aug. 31, 2019	Mar. 31, 2020	Sep. 30, 2019	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Company contributions					$ 79,000	$ 69,000
Pension plan curtailment benefit					$ (30,000)	0	$ 0
Current target allocations, percentage of total assets					100.00%
Plan assets at fair value			$ 1,898,000		$ 2,466,000	2,492,000	1,898,000
Pension Plan | Canadian Plan
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan number of consecutive terms of highest compensation					60 months
Defined benefit plan number of years of employment					10 years
Company contributions					$ 100,000	0
Pension Plan | Canadian Plan | Other | Hierarchical Level 2
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value					$ 2,500,000
Pension Plan | Qualified Plan | U.S.
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan number of consecutive terms of highest compensation					5 years
Defined benefit plan number of years of employment					10 years
Company contributions					$ 0	$ 0	$ 0
Defined benefit plan, lump sum payments to terminated vested participants, percentage of liability								16.00%
Defined benefit plan, percentage of participants, settlement								67.00%
Settlements								$ 7,300,000
Lump sum payments offered to eligible active and terminated vested participants, percent of remaining liability				42.00%
Percent of participants that accepted lump sum payment offer		74.00%
Aggregate amount of lump sum payments		$ 17,000,000
Additional contribution required due to termination	$ 500,000
Pension plan curtailment benefit	7,000,000
Overall termination charge, net of tax	$ 5,400,000
Excess funds distributed to defined contribution plan			$ 500,000

Retirement Plans - Summary of A

Retirement Plans - Summary of Assumptions (Details)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Assumptions used to determine benefit obligations:
Discount rate	4.00%	3.30%	3.60%
Rate of compensation increases	0.00%	3.00%	3.00%
Assumptions used to determine net pension expense:
Discount rate	3.30%	3.60%	4.00%
Expected return on plan assets	4.80%	4.80%	4.80%
Rate of compensation increases	3.00%	3.00%	3.00%
Pension Plan | Canadian Plan
Assumptions used to determine net pension expense:
Rate of compensation increases	3.00%

Retirement Plans - Schedule of

Retirement Plans - Schedule of Net Pension (Benefit) Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Retirement Benefits [Abstract]
Service cost – benefits earned during the year	$ 43	$ 40	$ 71
Interest cost on projected benefit obligation	138	144	1,136
Expected return on assets	(120)	(96)	(1,361)
Net amortization and deferral	69	74	56
Pension plan termination	0	0	6,472
Curtailment impact	(30)	0	0
Net pension expense	$ 100	$ 162	$ 6,374

Retirement Plans - Summary of C

Retirement Plans - Summary of Changes in Pension Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	$ 4,291	$ 3,880
Service cost	43	40	$ 71
Interest cost	138	144	1,136
Actuarial gain	(330)	212
Benefits paid	(216)	(265)
Curtailment impact	(342)	0
Currency translation impact	12	280
Benefit obligation at end of year	3,596	4,291	$ 3,880
Accumulated benefit obligation	$ 3,596	$ 3,990

Retirement Plans - Summary of R

Retirement Plans - Summary of Reconciliation of Plan's Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	$ 2,492	$ 1,898
Actual return on plan assets	(6)	441
Benefits paid	(110)	(159)
Company contributions	79	69
Currency translation impact	11	243
Fair value of plan assets at end of year	$ 2,466	$ 2,492

Retirement Plans - Summary of N

Retirement Plans - Summary of Net Pension Asset (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Plan assets at fair value	$ 2,466	$ 2,492	$ 1,898
Benefit obligation	(3,596)	(4,291)	$ (3,880)
Unfunded status	$ (1,130)	$ (1,799)

Retirement Plans - Summary of_2

Retirement Plans - Summary of Amounts Recognized in Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Retirement Benefits [Abstract]
Current liabilities	$ (103)	$ (104)
Noncurrent liabilities	(1,027)	(1,695)	[1]
Unfunded status	$ (1,130)	$ (1,799)
[1]	*Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Retirement Plans - Schedule o_2

Retirement Plans - Schedule of Change in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive loss at beginning of year	$ (799)	$ (871)
Amortization of net loss	59	62
Amortization of prior service cost	(5)	(31)
Curtailment impact	311	0
Net gain arising during the year	154	96
Currency translation impact	(86)	(55)
Accumulated other comprehensive loss at end of year	$ (366)	$ (799)

Retirement Plans - Schedule o_3

Retirement Plans - Schedule of Amounts Recorded in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Retirement Benefits [Abstract]
Net prior service cost	$ 0	$ 27
Net loss	(366)	(826)
Accumulated other comprehensive loss	$ (366)	$ (799)	$ (871)

Retirement Plans - Schedule o_4

Retirement Plans - Schedule of Actual Asset Allocations (Details)	Mar. 31, 2022	Mar. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation, percentage	100.00%	100.00%
Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation, percentage	99.00%	0.00%
Other
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation, percentage	0.00%	100.00%
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation, percentage	1.00%	0.00%

Retirement Plans - Summary of E

Retirement Plans - Summary of Expected Cash Benefit Payments (Details) $ in Millions	Mar. 31, 2022USD ($)
Retirement Benefits [Abstract]
2023	$ 0.2
2024	0.2
2025	0.2
2026	0.2
2027	0.2
Thereafter	$ 1.1

Retirement Plans - Defined Cont

Retirement Plans - Defined Contribution Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Retirement Benefits [Abstract]
Employer matching contribution, percent of match	100.00%
Employer matching contribution, percent of employees' gross pay	6.00%
Contributions to defined contribution plan	$ 4.8	$ 3.9

Retirement Plans - Employee Sto

Retirement Plans - Employee Stock Ownership Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Period of credited service after which participant's interest in contributions to ESOP fully vest	3 years
Contributions to the ESOP	$ 2.3	$ 3.6	$ 3.2
ESOP expense recorded	$ 3
CSWI
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Shares held in ESOP (in shares)	549,863	628,289

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income Before Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2022	Mar. 31, 2021		Mar. 31, 2020
Income Tax Disclosure [Abstract]
U.S. Federal									$ 87,607	$ 48,142		$ 53,733
Foreign									3,858	2,726		3,655
Income before income taxes	$ 27,605	$ 12,139	$ 24,529	$ 27,193	$ 11,864	$ 2,410	$ 21,111	$ 15,484	$ 91,465	$ 50,868	[1]	$ 57,388	[1]
[1]	*Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Income Taxes - Schedule of In_2

Income Taxes - Schedule of Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2022	Mar. 31, 2021		Mar. 31, 2020
Current
U.S. Federal									$ 20,139	$ 6,773		$ 8,466
State and local									5,271	3,561		1,999
Foreign									638	1,641		1,968
Provision for income taxes									26,048	11,975		12,433
Deferred
U.S. Federal									(1,578)	(1,211)		621
State and local									761	(500)		(100)
Foreign									(1,085)	505		(222)
Provision for income taxes									(1,902)	(1,206)		299
Total
U.S. Federal									18,561	5,562		9,087
State and local									6,032	3,061		1,899
Foreign									(447)	2,146		1,746
Provision for income taxes	$ 9,080	$ 2,389	$ 6,170	$ 6,507	$ 1,507	$ 550	$ 5,078	$ 3,633	$ 24,146	$ 10,769	[1]	$ 12,732	[1]
[1]	*Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020	Dec. 15, 2020
Business Acquisition [Line Items]
Effective tax rate	26.40%	21.20%	22.20%
Increase in provision due to state tax expense impact (net of federal benefits)	$ 4,765,000	$ 2,419,000	$ 1,943,000
Increase in effective tax rate due to state tax expense impact (net of federal benefits)	5.20%	4.80%
Nondeductible executive compensation	$ 992,000	$ 248,000	0
Effective income tax rate reconciliation, limitation, effective tax rate	1.10%
Uncertain tax positions	$ 759,000	$ (4,717,000)	(1,615,000)
Effective income tax rate reconciliation, tax contingency, percent	0.80%	(9.30%)
Vesting of stock-based compensation	$ (1,916,000)	$ (741,000)	(542,000)
Share-based payment arrangement, percent	(2.10%)
Increase in provision due to additional non-deductible expenses	$ (143,000)	$ 1,931,000	$ (4,000)
Increase in effective tax rate due to additional non-deductible expenses		2.10%
Tax effected net operating loss carryforwards, net of valuation allowances	0	$ 0
Earnings related to foreign subsidiaries for which taxes are not provided	16,600,000
Unrecognized tax benefits, decrease resulting from prior period tax positions	(314,000)	(4,215,000)
Interest accrued		100,000
Penalties accrued		200,000
Tax contingency reserves		200,000
Effective income tax rate reconciliation, tax settlement, amount		5,300,000
Accrued interest on uncertain tax positions, period increase (decrease)		600,000
Accrued penalties on uncertain tax positions, period increase (decrease)		600,000
TRUaire acquisition
Business Acquisition [Line Items]
Interest accrued	600,000	1,400,000
Penalties accrued	500,000	2,300,000
Tax contingency reserves	$ 17,321,000	17,300,000		$ 22,511,000
Unrecognized tax benefit related to acquisition		$ 13,600,000

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2022	Mar. 31, 2021		Mar. 31, 2020
Income Tax Disclosure [Abstract]
Computed tax expense at statutory rate									$ 19,206	$ 10,674		$ 12,044
Increase (reduction) in income taxes resulting from:
State and local income taxes, net of federal benefits									4,765	2,419		1,943
Nondeductible executive compensation									992	248		0
Vesting of stock-based compensation									(1,916)	(741)		(542)
Amended return items (pension and foreign withholding)									0	0		975
IRS audit adjustments									0	0		502
Global intangible low-taxed income ("GILTI") inclusion and foreign-derived intangible income ("FDII") deduction									(522)	440		124
Foreign rate differential									91	85		84
Uncertain tax positions									759	(4,717)		(1,615)
Other permanent differences									(143)	1,931		(4)
Foreign tax credits									(450)	(554)		(479)
Valuation allowance									379	0		0
Repatriation tax, net of tax credit									170	822		0
Other, net									815	162		(300)
Provision for income taxes	$ 9,080	$ 2,389	$ 6,170	$ 6,507	$ 1,507	$ 550	$ 5,078	$ 3,633	$ 24,146	$ 10,769	[1]	$ 12,732	[1]
[1]	*Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Income Taxes - Components of De

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Mar. 31, 2021
Deferred tax assets:
Operating lease liabilities	$ 17,774	$ 14,680
Accrued compensation	4,826	3,878
Impairment	15	386
Pension and other employee benefits	412	313
Inventory reserves	3,720	1,330
Net operating loss carryforwards	145	145
Accrued expenses	1,010	244
Foreign tax credit carry-forward	379	130
State R&D credit carry-forward	75	120
Transaction Costs	714	630
Other, net	1,477	1,455
Deferred tax assets	30,547	23,311
Valuation allowance	(524)	(145)
Deferred tax assets, net of valuation allowance	30,023	23,166
Deferred tax liabilities:
Goodwill and intangible assets	(64,903)	(65,070)
Property, plant and equipment	(8,242)	(7,816)
Operating lease - ROU assets	(16,364)	(13,631)
Repatriation reserve	(1,034)	(942)
Other, net	(1,986)	(1,425)
Deferred tax liabilities	(92,529)	(88,884)
Net deferred tax liabilities	$ (62,506)	$ (65,718)

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 10,212	$ 498
Increases related to prior year tax positions	0	13,895
Decreases related to prior year tax positions	(314)	(4,215)
Increases related to current year tax positions	36	34
Balance at end of year	$ 9,934	$ 10,212

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2020
Related Party Transactions [Abstract]
Related party transaction	$ 0	$ 0	$ 0

Other Comprehensive Income (L_3

Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021		Mar. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Foreign currency translation adjustments	$ 922	$ 5,450	[1]	$ (717)	[1]
Other comprehensive income	68,241	45,549	[1]	45,000	[1]
Expected loss from currency cash flow hedge, next 12 months (less than)	100
Currency translation adjustments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(4,394)	(9,185)
Foreign currency translation adjustments	(44)	4,791
Balance at end of period	(4,438)	(4,394)		(9,185)
Interest rate swaps
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(803)	(1,390)
Unrealized gain, net of taxes	309	362
Reclassification of other comprehensive loss (income), net of taxes	224	225
Other comprehensive income	533	587
Balance at end of period	(270)	(803)		(1,390)
Unrealized losses, tax	(82)	(96)
Reclassification from AOCI, tax	(60)	(60)
Defined benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(799)	(871)
Other comprehensive income	433	72
Balance at end of period	(366)	(799)		$ (871)
Amortization of net prior service benefit, net of taxes
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification of other comprehensive loss (income), net of taxes	(5)	(31)
Reclassification from AOCI, tax	1	8
Amortization of net loss, net of taxes
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassification of other comprehensive loss (income), net of taxes	59	62
Reclassification from AOCI, tax	(16)	(16)
Net gain arising during the year, net of taxes
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income	154	96
Other comprehensive (loss) income, tax	(41)	(26)
Pension plan termination, net of taxes
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income	311	0
Other comprehensive (loss) income, tax	(83)	0
Currency translation impact
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income	$ (86)	$ (55)
[1]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Revenue Recognition (Details)

Revenue Recognition (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)	Sep. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2022USD ($)segment	Mar. 31, 2021USD ($)		Mar. 31, 2020USD ($)
Disaggregation of Revenue [Line Items]
Number of business segments | segment									3
Net revenues	$ 173,300	$ 136,300	$ 155,600	$ 161,300	$ 133,400	$ 89,900	$ 104,900	$ 91,000	$ 626,435	$ 419,205	[1]	$ 385,871	[1]
Change in Contract Liabilities [Roll Forward]
Balance at beginning of period				$ 1,018					1,018
Revenue recognized									(971)
New contracts and revenue added to existing contracts									979
Balance at end of period	$ 1,026				$ 1,018				1,026	1,018
Reportable Segments
Disaggregation of Revenue [Line Items]
Net revenues									626,435	419,205		385,871
Contractor Solutions | Reportable Segments
Disaggregation of Revenue [Line Items]
Net revenues									413,207	245,232		190,421
Engineered Building Solutions | Reportable Segments
Disaggregation of Revenue [Line Items]
Net revenues									97,296	95,672		90,881
Specialized Reliability Solutions | Reportable Segments
Disaggregation of Revenue [Line Items]
Net revenues									$ 115,932	78,301		104,569
Build-to-order
Disaggregation of Revenue [Line Items]
Retainage, percentage of transaction price not collectible until overall construction project is complete									10.00%
Lead times for transfer to customer									84 days
Build-to-order | Reportable Segments
Disaggregation of Revenue [Line Items]
Net revenues									$ 88,690	87,057		82,357
Build-to-order | Contractor Solutions | Reportable Segments
Disaggregation of Revenue [Line Items]
Net revenues									0	0		0
Build-to-order | Engineered Building Solutions | Reportable Segments
Disaggregation of Revenue [Line Items]
Net revenues									88,690	87,057		82,357
Build-to-order | Specialized Reliability Solutions | Reportable Segments
Disaggregation of Revenue [Line Items]
Net revenues									$ 0	0		0
Installation Services | Total Consolidated Revenue | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Percentage of total consolidated revenue									3.00%
Book-and-ship
Disaggregation of Revenue [Line Items]
Lead times for transfer to customer									7 days
Book-and-ship | Reportable Segments
Disaggregation of Revenue [Line Items]
Net revenues									$ 537,745	332,148		303,514
Book-and-ship | Contractor Solutions | Reportable Segments
Disaggregation of Revenue [Line Items]
Net revenues									413,207	245,232		190,421
Book-and-ship | Engineered Building Solutions | Reportable Segments
Disaggregation of Revenue [Line Items]
Net revenues									8,606	8,615		8,524
Book-and-ship | Specialized Reliability Solutions | Reportable Segments
Disaggregation of Revenue [Line Items]
Net revenues									$ 115,932	$ 78,301		$ 104,569
[1]	*Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Segments - Summary of Financial

Segments - Summary of Financial Information of Reporting Segments (Details) $ in Thousands	3 Months Ended										12 Months Ended
	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)	Sep. 30, 2021USD ($)	Jun. 30, 2021USD ($)	Mar. 31, 2021USD ($)		Dec. 31, 2020USD ($)	Sep. 30, 2020USD ($)	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Mar. 31, 2022USD ($)segment	Mar. 31, 2021USD ($)		Mar. 31, 2020USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment											3
Segment Reporting Information [Line Items]
Revenues, net	$ 173,300	$ 136,300	$ 155,600	$ 161,300	$ 133,400		$ 89,900	$ 104,900	$ 91,000		$ 626,435	$ 419,205	[1]	$ 385,871	[1]
Operating income											97,380	59,220	[1]	65,854	[1]
Depreciation and amortization											36,408	22,718		14,636
Total assets	995,360				879,522	[2]				$ 374,059	995,360	879,522	[2]	374,059
Engineered Building Solutions | Trademarks
Segment Reporting Information [Line Items]
Impairment of unamortized trademarks										1,000
Operating Segments
Segment Reporting Information [Line Items]
Revenues, net											626,435	419,205		385,871
Operating income											116,223	73,654		80,204
Depreciation and amortization											35,958	22,173		14,142
Total assets	983,044				866,282					349,187	983,044	866,282		349,187
Operating Segments | Contractor Solutions
Segment Reporting Information [Line Items]
Revenues, net											413,207	245,232		190,421
Operating income											96,115	59,007		58,236
Depreciation and amortization											27,879	14,415		5,887
Total assets	782,267				687,508					161,508	782,267	687,508		161,508
Operating Segments | Engineered Building Solutions
Segment Reporting Information [Line Items]
Revenues, net											97,296	95,672		90,881
Operating income											11,101	14,066		14,278
Depreciation and amortization											2,063	2,014		2,074
Total assets	74,397				67,281					68,752	74,397	67,281		68,752
Operating Segments | Specialized Reliability Solutions
Segment Reporting Information [Line Items]
Revenues, net											115,932	78,301		104,569
Operating income											9,007	581		7,690
Depreciation and amortization											6,016	5,744		6,181
Total assets	126,380				111,493					118,927	126,380	111,493		118,927
Intersegment revenue
Segment Reporting Information [Line Items]
Revenues, net											3,390	360		347
Intersegment revenue | Contractor Solutions
Segment Reporting Information [Line Items]
Revenues, net											3,280	296		275
Intersegment revenue | Engineered Building Solutions
Segment Reporting Information [Line Items]
Revenues, net											0	0		0
Intersegment revenue | Specialized Reliability Solutions
Segment Reporting Information [Line Items]
Revenues, net											110	64		72
Eliminations and Other
Segment Reporting Information [Line Items]
Revenues, net											0	0		0
Eliminations and Other
Segment Reporting Information [Line Items]
Revenues, net											(3,390)	(360)		(347)
Operating income											(18,843)	(14,434)		(14,350)
Depreciation and amortization											450	545		494
Total assets	$ 12,316				$ 13,240					$ 24,872	$ 12,316	$ 13,240		$ 24,872
[1]	*Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[2]	*Year ended March 31, 2021 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Segments - Schedule of Sales an

Segments - Schedule of Sales and Long-Lived Assets by Geographic Area (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2022	Mar. 31, 2021		Mar. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net	$ 173,300	$ 136,300	$ 155,600	$ 161,300	$ 133,400	$ 89,900	$ 104,900	$ 91,000	$ 626,435	$ 419,205	[1]	$ 385,871	[1]
Long-lived assets	695,213				660,404				$ 695,213	$ 660,404		$ 219,200
Net Revenues | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage									100.00%	100.00%		100.00%
Long-lived Assets | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage									100.00%	100.00%		100.00%
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net									$ 559,296	$ 367,169		$ 323,000
Long-lived assets	651,477				617,258				$ 651,477	$ 617,258		$ 196,679
U.S. | Net Revenues | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage									89.30%	87.60%		83.70%
U.S. | Long-lived Assets | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage									93.70%	93.50%		89.70%
Non-U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net									$ 67,139	$ 52,036		$ 62,871
Long-lived assets	$ 43,736				$ 43,146				$ 43,736	$ 43,146		$ 22,521
Non-U.S. | Net Revenues | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage									10.70%	12.40%		16.30%
Non-U.S. | Long-lived Assets | Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage									6.30%	6.50%		10.30%
[1]	*Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Quarterly Financial Data (Una_3

Quarterly Financial Data (Unaudited) - Summary of Unaudited Quarterly Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2022	Mar. 31, 2021		Mar. 31, 2020	[1]
Quarterly Financial Information Disclosure [Abstract]
Revenues, net	$ 173,300	$ 136,300	$ 155,600	$ 161,300	$ 133,400	$ 89,900	$ 104,900	$ 91,000	$ 626,435	$ 419,205	[1]	$ 385,871
Gross profit	72,300	51,300	63,300	69,000	54,900	38,700	48,300	42,600	255,962	184,550	[1]	176,837
Income before income taxes	27,605	12,139	24,529	27,193	11,864	2,410	21,111	15,484	91,465	50,868	[1]	57,388
Net income	18,525	9,750	18,359	20,686	10,356	1,859	16,033	11,852	67,319	40,099	[1],[2]	45,717	[3]
Net income attributable to CSW Industrials, Inc.	$ 18,446	$ 9,306	$ 18,171	$ 20,462	$ 10,356	$ 1,859	$ 16,033	$ 11,852	$ 66,385	$ 40,099	[1]	$ 45,717
Earnings per share attributable to CSW Industrials, Inc.
Basic (in USD per share)	$ 1.17	$ 0.59	$ 1.15	$ 1.30	$ 0.66	$ 0.12	$ 1.09	$ 0.81	$ 4.21	$ 2.67	[1]	$ 3.04
Diluted (in USD per share)	$ 1.17	$ 0.59	$ 1.15	$ 1.30	$ 0.66	$ 0.12	$ 1.08	$ 0.80	$ 4.20	$ 2.65	[1]	$ 3.01
Schedule of Equity Method Investments [Line Items]
Indemnification expense					$ 5,000
Engineered Building Solutions
Schedule of Equity Method Investments [Line Items]
Transaction expenses related to formation of joint venture					1,600
TRUaire acquisition
Business Acquisition [Line Items]
Transaction expenses incurred					800				$ 0	$ 7,800
Schedule of Equity Method Investments [Line Items]
Indemnification expense					$ 5,000
[1]	*Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[2]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.
[3]	Years ended March 31, 2021 and 2020 amounts have been adjusted to reflect the change in inventory accounting method, as described in Notes 1 and 7 to the Consolidated Financial Statements.

Uncategorized Items - cswi-2022

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2021-01 [Member]