Eagle Materials (EXP) 10-Q 26 Jul 16 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2016	Jul. 20, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	EXP
Entity Registrant Name	EAGLE MATERIALS INC
Entity Central Index Key	918,646
Current Fiscal Year End Date	--03-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		48,236,511

Consolidated Statements of Earn

Consolidated Statements of Earnings (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Revenues	$ 297,504	$ 284,963
Cost of Goods Sold	225,549	223,866
Gross Profit	71,955	61,097
Equity in Earnings of Unconsolidated Joint Venture	7,980	7,830
Corporate General and Administrative Expense	(9,833)	(8,991)
Other Income	1,075	435
Interest Expense, Net	(3,901)	(4,486)
Earnings Before Income Taxes	67,276	55,885
Income Tax Expense	(21,932)	(18,123)
Net Earnings	$ 45,344	$ 37,762
EARNINGS PER SHARE:
Basic	$ 0.94	$ 0.76
Diluted	$ 0.93	$ 0.75
AVERAGE SHARES OUTSTANDING:
Basic	48,014,195	49,767,424
Diluted	48,522,207	50,450,908
CASH DIVIDENDS PER SHARE:	$ 0.10	$ 0.10

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Statement Of Income And Comprehensive Income [Abstract]
Net Earnings	$ 45,344	$ 37,762
Change in Funded Status of Defined Benefit Plans:
Amortization of Net Actuarial Loss	500	319
Tax Expense	(188)	(188)
Comprehensive Earnings	$ 45,656	$ 37,893

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016
Current Assets -
Cash and Cash Equivalents	$ 9,180	$ 5,391
Accounts and Notes Receivable	142,298	120,221
Inventories	240,999	243,595
Income Tax Receivable		5,623
Prepaid and Other Assets	8,020	5,173
Total Current Assets	400,497	380,003
Property, Plant and Equipment -	2,083,592	2,072,776
Less: Accumulated Depreciation	(837,242)	(817,465)
Property, Plant and Equipment, net	1,246,350	1,255,311
Notes Receivable	2,652	2,672
Investment in Joint Venture	48,700	49,465
Goodwill and Intangible Assets	163,298	165,827
Other Assets	27,588	30,357
Total Assets	1,889,085	1,883,635
Current Liabilities -
Accounts Payable	61,322	66,614
Accrued Liabilities	40,509	45,975
Income Taxes Payable	9,919
Current Portion of Long-term Debt	8,000	8,000
Total Current Liabilities	119,750	120,589
Long-term Debt	490,714	499,714
Other Long-term Liabilities	58,642	61,122
Deferred Income Taxes	163,536	161,679
Total Liabilities	832,642	843,104
Stockholders’ Equity -
Preferred Stock, Par Value $0.01; Authorized 5,000,000 Shares; None Issued
Common Stock, Par Value $0.01; Authorized 100,000,000 Shares; Issued and Outstanding 48,391,969 and 48,526,843 Shares, respectively	484	485
Capital in Excess of Par Value	144,076	168,969
Accumulated Other Comprehensive Losses	(11,097)	(11,409)
Retained Earnings	922,980	882,486
Total Stockholders’ Equity	1,056,443	1,040,531
Liabilities and Stockholders' Equity, Total	$ 1,889,085	$ 1,883,635

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Mar. 31, 2016
Statement Of Financial Position [Abstract]
Preferred Stock, Par Value	$ 0.01	$ 0.01
Preferred Stock, Authorized	5,000,000	5,000,000
Preferred Stock, Issued	0	0
Common Stock, Par Value	$ 0.01	$ 0.01
Common Stock, Authorized	100,000,000	100,000,000
Common Stock, Issued	48,391,969	48,526,843
Common Stock, Outstanding	48,391,969	48,526,843

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net Earnings	$ 45,344	$ 37,762
Adjustments to Reconcile Net Earnings to Net Cash Provided by Operating Activities -
Depreciation, Depletion and Amortization	22,863	24,264
Deferred Income Tax Provision	1,822	(4,369)
Stock Compensation Expense	2,594	4,018
Excess Tax Benefits from Share Based Payment Arrangements	(3,299)	(1,142)
Equity in Earnings of Unconsolidated Joint Venture	(7,980)	(7,830)
Distributions from Joint Venture	8,750	6,245
Changes in Operating Assets and Liabilities:
Accounts and Notes Receivable	(22,057)	(22,075)
Inventories	2,596	723
Accounts Payable and Accrued Liabilities	(12,913)	(26,852)
Other Assets	(2,478)	75
Income Taxes Payable	18,841	9,796
Net Cash Provided by Operating Activities	54,083	20,615
CASH FLOWS FROM INVESTING ACTIVITIES
Property, Plant and Equipment Additions	(8,978)	(27,122)
Net Cash Used in Investing Activities	(8,978)	(27,122)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (Decrease) in Credit Facility	(9,000)	11,000
Dividends Paid to Stockholders	(4,828)	(5,025)
Purchase and Retirement of Common Stock	(39,135)
Shares Redeemed to Settle Employee Taxes on Stock Compensation	(2,284)	(1,523)
Proceeds from Stock Option Exercises	10,632	950
Excess Tax Benefits from Share Based Payment Arrangements	3,299	1,142
Net Cash Provided by (Used in) Financing Activities	(41,316)	6,544
NET INCREASE IN CASH AND CASH EQUIVALENTS	3,789	37
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	5,391	7,514
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 9,180	$ 7,551

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
BASIS OF PRESENTATION	(A) BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements as of and for the three month period ended June 30, 2016 include the accounts of Eagle Materials Inc. (“Eagle” or “Parent”) and its majority-owned subsidiaries (collectively, the “Company”, “us” or “we”) and have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on May 25, 2016. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although we believe that the disclosures are adequate to make the information presented not misleading. In our opinion, all adjustments (consisting solely of normal recurring adjustments) necessary to present fairly the information in the following unaudited consolidated financial statements of the Company have been included. The results of operations for interim periods are not necessarily indicative of the results for the full year. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers.” ASU 2014-09 supersedes the revenue recognition requirements in “Revenue Recognition (Topic 605),” and requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. The standard will be effective for us in the first quarter of fiscal 2019. We will adopt the new standard using the modified retrospective approach, which requires the standard be applied only to the most current period presented, with the cumulative effect of initially applying the standard recognized at the date of initial application. . In March 2016, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2016-09, “Improvements to Employee Share-Based Payment Accounting,” which provides for simplification of certain aspects of employee share-based payment accounting, including income taxes, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The standard will be effective for us in the first quarter of fiscal 2018 and will be applied either prospectively, retrospectively or using a modified retrospective transition approach depending on the area covered in this update. We are currently assessing the impact of the ASU on our consolidated financial statements and disclosures . In February 2016, the FASB issued ASU 2016-02, “Leases”, which supersedes existing lease guidance to require lessees to recognize assets and liabilities on the balance sheet for the rights and obligations created by long-term leases and to disclose additional quantitative and qualitative information about leasing arrangements. The standard will be effective for us in the first quarter of fiscal 2020, and we will adopt using the modified retrospective approach. We are currently assessing the impact of the ASU on our consolidated financial statements and disclosures, as well as our internal lease accounting processes.

CASH FLOW INFORMATION - SUPPLEM

CASH FLOW INFORMATION - SUPPLEMENTAL	3 Months Ended
	Jun. 30, 2016
Supplemental Cash Flow Elements [Abstract]
CASH FLOW INFORMATION - SUPPLEMENTAL	(B) CASH FLOW INFORMATION—SUPPLEMENTAL Cash payments made for interest were $5.3 million and $6.6 million for the three months ended June 30, 2016 and 2015, respectively. Net payments made for federal and state income taxes during the three months ended June 30, 2016 and 2015, were $1.6 million and $11.8 million, respectively.

ACCOUNTS AND NOTES RECEIVABLE

ACCOUNTS AND NOTES RECEIVABLE	3 Months Ended
	Jun. 30, 2016
Receivables [Abstract]
ACCOUNTS AND NOTES RECEIVABLE	(C) ACCOUNTS AND NOTES RECEIVABLE Accounts and notes receivable have been shown net of the allowance for doubtful accounts of $10.3 million and $10.2 million at June 30, 2016 and March 31, 2016, respectively. We perform ongoing credit evaluations of our customers’ financial condition and generally require no collateral from our customers. The allowance for non-collection of receivables is based upon analysis of economic trends in the construction industry, detailed analysis of the expected collectability of accounts receivable that are past due and the expected collectability of overall receivables. We have no significant credit risk concentration among our diversified customer base. We had notes receivable totaling approximately $2.8 million at June 30, 2016, of which approximately $0.2 million has been classified as current and presented with accounts receivable on the balance sheet. We lend funds to certain companies in the ordinary course of business, and the notes bear interest, on average, at LIBOR plus 3.5%. Remaining unpaid amounts, plus accrued interest, mature in March 2017. The notes are collateralized by certain assets of the borrowers, namely property and equipment, and are generally payable monthly. We monitor the credit risk of each borrower by focusing on the timeliness of payments, review of credit history and credit metrics and interaction with the borrowers.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Jun. 30, 2016
Equity [Abstract]
STOCKHOLDERS' EQUITY	(D) STOCKHOLDERS’ EQUITY A summary of changes in stockholders’ equity follows: For the Three Months Ended June 30, 2016 (dollars in thousands) Common Stock – Balance at Beginning of Period $ 485 Purchase and Retirement of Common Stock (6 ) Issuance of Restricted Stock 1 Stock Option Exercises 4 Balance at End of Period 484 Capital in Excess of Par Value – Balance at Beginning of Period 168,969 Stock Compensation Expense 2,593 Shares Redeemed to Settle Employee Taxes (2,284 ) Purchase and Retirement of Common Stock (39,129 ) Tax Benefit of Stock Option Exercises 3,299 Stock Option Exercises 10,628 Balance at End of Period 144,076 Retained Earnings – Balance at Beginning of Period 882,486 Dividends Declared to Stockholders (4,850 ) Net Earnings 45,344 Balance at End of Period 922,980 Accumulated Other Comprehensive Loss - Balance at Beginning of Period (11,409 ) Change in Funded Status of Pension Plan, net of tax 312 Balance at End of Period (11,097 ) Total Stockholders’ Equity $ 1,056,443 During the three months ended June 30, 2016, we repurchased 525,000 shares, at an average price of $74.55. Subsequent to June 30, 2016, we purchased an additional 182,500 shares at an average price of $77.48. Including the shares purchased subsequent to quarter end, we have authorization to purchase an additional 4,898,500 shares.

INVENTORIES

INVENTORIES	3 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
INVENTORIES	(E) INVENTORIES Inventories are stated at the lower of average cost (including applicable material, labor, depreciation, and plant overhead) or market, and consist of the following: As of June 30, March 31, (dollars in thousands) Raw Materials and Material-in-Progress $ 120,679 $ 119,060 Finished Cement 21,785 21,834 Gypsum Wallboard 6,422 5,839 Frac Sand 4,831 5,501 Aggregates 9,493 10,660 Paperboard 5,986 7,575 Repair Parts and Supplies 66,929 68,155 Fuel and Coal 4,874 4,971 $ 240,999 $ 243,595

ACCRUED EXPENSES

ACCRUED EXPENSES	3 Months Ended
	Jun. 30, 2016
Payables And Accruals [Abstract]
ACCRUED EXPENSES	(F) ACCRUED EXPENSES Accrued expenses consist of the following: As of June 30, March 31, (dollars in thousands) Payroll and Incentive Compensation $ 13,800 $ 19,956 Benefits 11,054 10,663 Interest 1,791 3,373 Property Taxes 5,079 4,186 Power and Fuel 1,248 1,390 Sales and Use Tax 801 1,486 Legal 2,254 549 Other 4,482 4,372 $ 40,509 $ 45,975

SHARE-BASED EMPLOYEE COMPENSATI

SHARE-BASED EMPLOYEE COMPENSATION	3 Months Ended
	Jun. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
SHARE-BASED EMPLOYEE COMPENSATION	(G) S hare On August 7, 2013 our stockholders approved the Eagle Materials Inc. Amended and Restated Incentive Plan (the “Plan”), which increased the shares we are authorized to issue as awards by 3,000,000 (1,500,000 of which may be stock awards). Under the terms of the Plan, we can issue equity awards, including stock options, restricted stock units (“RSUs”), restricted stock and stock appreciation rights to employees of the Company and members of the Board of Directors. Awards that were already outstanding prior to the approval of the Plan on August 7, 2013 remain outstanding. The Compensation Committee of our Board of Directors specifies the terms for grants of equity awards under the Plan. Long-Term Compensation Plans - Options. In May 2016, the Compensation Committee approved the granting of an aggregate of 91,074 performance vesting stock options pursuant to the Plan to certain officers and key employees that will be earned if certain performance conditions are satisfied (the “Fiscal 2017 Employee Performance Stock Option Grant”). The performance criterion for the Fiscal 2017 Employee Performance Stock Option Grant is based upon the achievement of certain levels of return on equity (as defined in the option agreements), ranging from 11.0% to 18.0%, for the fiscal year ending March 31, 2017. All stock options will be earned if the return on equity is 18.0% or greater, and the percentage of shares earned will be reduced proportionately to approximately 66.7% if the return on equity is 11.0%. If the Company does not achieve a return on equity of at least 11.0%, all stock options granted will be forfeited. Following any such reduction, restrictions on the earned stock options will lapse ratably over four years, with the first fourth lapsing promptly following the determination date, and the remaining restrictions lapsing on March 31, 2018 through 2020. The stock options have a term of ten years from the date of grant. The Compensation Committee also approved the granting of 75,896 time vesting stock options to the same officers and key employees, which vest ratably over four years (the “Fiscal 2017 Employee Time Vesting Stock Option Grant). The Fiscal 2017 Employee Performance Stock Option Grant and Fiscal 2017 Employee Time Vesting Stock Option Grant were valued at the grant date using the Black-Scholes option pricing model. The weighted-average assumptions used in the Black-Scholes model to value the option awards in fiscal 2016 are as follows: Fiscal 2017 Dividend Yield 1.3% Expected Volatility 36.5% Risk Free Interest Rate 1.4% Expected Life 6.0 years Stock option expense for all outstanding stock option awards totaled approximately $1.2 million and $2.0 million for the three months ended June 30, 2016 and 2015, respectively. At June 30, 2016, there was approximately $10.3 million of unrecognized compensation cost related to outstanding stock options, net of estimated forfeitures, which is expected to be recognized over a weighted-average period of 2.8 years. The following table represents stock option activity for the three month period ended June 30, 2016: Number Weighted- Outstanding Options at Beginning of Period 1,817,763 $ 53.03 Granted 174,470 $ 75.78 Exercised (330,341 ) $ 33.70 Cancelled (16,840 ) $ 67.92 Outstanding Options at End of Period 1,645,052 $ 59.15 Options Exercisable at End of Period 1,060,879 $ 49.56 Weighted-Average Fair Value of Options Granted during the Period $ 24.42 The following table summarizes information about stock options outstanding at June 30, 2016: Outstanding Options Exercisable Options Range of Exercise Prices Number of Weighted - Weighted - Number of Weighted - $23.17 – $ 30.74 349,570 3.58 $ 25.90 348,570 $ 25.89 $33.43 – $ 37.95 281,973 5.76 $ 34.05 272,973 $ 33.97 $53.22 – $ 77.67 455,765 8.29 $ 69.93 171,545 $ 67.07 $79.73 – $ 93.56 557,744 8.50 $ 83.88 267,791 $ 85.04 1,645,052 6.93 $ 59.15 1,060,879 $ 49.56 At June 30, 2016, the aggregate intrinsic value for outstanding and exercisable options was approximately $29.6 million and $29.3 million, respectively. The total intrinsic value of options exercised during the three months ended June 30, 2016 was approximately $13.2 million. Restricted Stock. In May 2016, the Compensation Committee approved the granting of an aggregate of 63,029 shares of performance vesting restricted stock to certain officers and key employees that will be earned if certain performance conditions are satisfied (the “Fiscal 2017 Employee Restricted Stock Performance Award”). The performance criterion for the Fiscal 2017 Employee Restricted Stock Performance Award is based upon the achievement of certain levels of return on equity (as defined in the award agreement), ranging from 11.0% to 18.0%, for the fiscal year ending March 31, 2017. All restricted shares will be earned if the return on equity is 18.0% or greater, and the percentage of shares earned will be reduced proportionately to approximately 66.7% if the return on equity is 11.0%. If the Company does not achieve a return on equity of at least 11.0%, all awards will be forfeited. Following any such reduction, restrictions on the earned shares will lapse ratably over four years, with the first fourth lapsing promptly following the determination date, and the remaining restrictions lapsing on March 31, 2018 through 2020. The Compensation Committee also approved the granting of 52,527 shares of time vesting restricted stock to the same officers and key employees, which vest ratably over four years (the “Fiscal 2017 Employee Restricted Stock Time Vesting Award). Both of the Fiscal 2017 Employee Restricted Stock Performance Award and the Fiscal 2017 Employee Restricted Stock Time Vesting Award were valued at the closing price of the stock on the date of grant, and are being expensed over a four year period. Expense related to restricted shares was approximately $1.4 million and $2.0 million for the three months ended June 30, 2016 and 2015, respectively. At June 30, 2016, there was approximately $20.4 million of unearned compensation from restricted stock, net of estimated forfeitures, which will be recognized over a weighted-average period of 2.2 years. The number of shares available for future grants of stock options, restricted stock units, stock appreciation rights and restricted stock under the Plan was 4,341,783 at June 30, 2016.

COMPUTATION OF EARNINGS PER SHA

COMPUTATION OF EARNINGS PER SHARE	3 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
COMPUTATION OF EARNINGS PER SHARE	(H) COMPUTATION OF EARNINGS PER SHARE The calculation of basic and diluted common shares outstanding is as follows: For the Three Months Ended June 30, 2016 2015 Weighted-Average Shares of Common Stock Outstanding 48,014,195 49,767,424 Common Equivalent Shares: Assumed Exercise of Outstanding Dilutive Options 1,039,189 1,328,364 Less: Shares Repurchased from Assumed Proceeds of Assumed Exercised Options (715,139 ) (876,472 ) Restricted Shares 183,962 231,592 Weighted-Average Common and Common Equivalent Shares Outstanding 48,522,207 50,450,908 Shares Excluded Due to Anti-dilution Effects 692,219 457,687

PENSION AND EMPLOYEE BENEFIT PL

PENSION AND EMPLOYEE BENEFIT PLANS	3 Months Ended
	Jun. 30, 2016
Compensation And Retirement Disclosure [Abstract]
PENSION AND EMPLOYEE BENEFIT PLANS	(I) PENSION AND EMPLOYEE BENEFIT PLANS We sponsor several defined benefit and defined contribution pension plans which together cover substantially all our employees. Benefits paid under the defined benefit plans covering certain hourly employees are based on years of service and the employee’s qualifying compensation over the last few years of employment. The following table shows the components of net periodic cost for our plans: For the Three Months Ended 2016 2015 (dollars in thousands) Service Cost – Benefits Earned During the Period $ 222 $ 231 Interest Cost of Benefit Obligations 399 381 Expected Return on Plan Assets (416 ) (430 ) Recognized Net Actuarial Loss 425 433 Amortization of Prior-Service Cost 75 75 Net Periodic Pension Cost $ 705 $ 690

INCOME TAXES

INCOME TAXES	3 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
INCOME TAXES	(J) INCOME TAXES Income taxes for the interim period presented have been included in the accompanying financial statements on the basis of an estimated annual effective tax rate. In addition to the amount of tax resulting from applying the estimated annual effective tax rate to pre-tax income, we will, when appropriate, include certain items treated as discrete events to arrive at an estimated overall tax amount. The effective tax rate for the three months ended June 30, 2016 was approximately 33%, which was relatively consistent with the effective tax rate for the three months ended June 30, 2015.

LONG-TERM DEBT

LONG-TERM DEBT	3 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
LONG-TERM DEBT	(K) LONG-TERM DEBT Long-term debt consists of the following: As of June 30, 2016 March 31, 2016 (dollars in thousands) Credit Facility $ 373,000 $ 382,000 Senior Unsecured Notes 125,714 125,714 Total Debt 498,714 507,714 Less: Current Portion of Long-term Debt (8,000 ) (8,000 ) Total Debt $ 490,714 $ 499,714 Credit Facility – We have a $500.0 million revolving credit facility (the “Credit Facility”), including a swingline loan sublimit of $25.0 million, which is scheduled to expire on October 30, 2019. Borrowings under the Credit Facility are guaranteed by substantially all of the Company’s subsidiaries. At the option of the Company, outstanding principal amounts on the Credit Facility bear interest at a variable rate equal to (i) the London Interbank Offered Rate (“LIBOR”) for the selected period, plus an applicable rate (ranging from 100 to 225 basis points), which is to be established quarterly based upon the Company’s ratio of consolidated EBITDA, defined as earnings before interest, taxes, depreciation and amortization, to the Company’s consolidated indebtedness (the “Leverage Ratio”), or (ii) an alternative base rate which is the higher of (a) the prime rate or (b) the federal funds rate plus 1 2 The Credit Facility has a $50.0 million letter of credit facility. Under the letter of credit facility, the Company pays a fee at a per annum rate equal to the applicable margin for Eurodollar loans in effect from time to time plus a one-time letter of credit fee in an amount equal to 0.125% of the initial stated amount. At June 30, 2016, we had $10.7 million of letters of credit outstanding. Senior Unsecured Notes - We entered into a Note Purchase Agreement on November 15, 2005 (the “2005 Note Purchase Agreement”) in connection with our sale of $200 million of senior unsecured notes, designated as Series 2005A Senior Notes (the “Series 2005A Senior Notes”) in a private placement transaction. The Series 2005A Senior Notes, which are guaranteed by substantially all of our subsidiaries, were sold at par and issued in three tranches. At June 30, 2016, the amount outstanding for the remaining tranche is as follows: Principal Maturity Date Interest Rate Tranche C $ 57.2 million November 15, 2017 5.48% Interest for this tranche of Series 2005A Senior Notes is payable semi-annually on May 15 and the November 15 of each year until all principal is paid. We also entered into an additional Note Purchase Agreement on October 2, 2007 (the “2007 Note Purchase Agreement”) in connection with our sale of $200 million of senior unsecured notes, designated as Series 2007A Senior Notes (the “Series 2007A Senior Notes” and together with the Series 2005A Senior Notes, the “Private Placement Senior Notes”) in a private placement transaction. The Series 2007A Senior Notes, which are guaranteed by substantially all of our subsidiaries, were sold at par and issued in four tranches. At June 30, 2016, the amounts outstanding for each of the remaining tranches were as follows: Principal Maturity Date Interest Rate Tranche B $ 8.0 million October 2, 2016 6.27% Tranche C $ 24.0 million October 2, 2017 6.36% Tranche D $ 36.5 million October 2, 2019 6.48% Interest for each tranche of Notes is payable semi-annually on April 2 and October 2 of each year until all principal is paid for the respective tranche. Our obligations under the 2005 Note Purchase Agreement and 2007 Note Purchase Agreement (together, the “Private Placement Note Purchase Agreements”) and the Private Placement Senior Notes are equal in right of payment with all other senior, unsecured indebtedness of the Company, including our indebtedness under the Credit Facility. The Private Placement Note Purchase Agreements contain customary restrictive covenants, including, but not limited to, covenants that place limits on our ability to encumber our assets, to incur additional debt, to sell assets, or to merge or consolidate with third parties. The Private Placement Note Purchase Agreements require us to maintain a Consolidated Debt to Consolidated EBITDA (calculated as consolidated indebtedness to consolidated earnings before interest, taxes, depreciation, depletion, amortization, certain transaction related deductions and other non-cash charges) ratio of 3.50 to 1.00 or less. The 2007 Note Purchase Agreement requires us to maintain an interest coverage ratio (Consolidated EBITDA to Consolidated Interest Expense (calculated as consolidated EBITDA, as defined above, to consolidated interest expense)) of at least 2.50:1.00. In addition, the 2007 Note Purchase Agreement requires the Company to ensure that at all times either (i) Consolidated Total Assets equal at least 80% of the consolidated total assets of the Company and its Subsidiaries, determined in accordance with GAAP, or (ii) consolidated total revenues of the Company and its Restricted Subsidiaries for the period of four consecutive fiscal quarters most recently ended equals at least 80% of the consolidated total revenues of the Company and its Subsidiaries during such period. We were in compliance with all financial ratios and tests at June 30, 2016. Pursuant to a Subsidiary Guaranty Agreement, substantially all of our subsidiaries have guaranteed the punctual payment of all principal, interest, and Make-Whole Amounts (as defined in the Private Placement Note Purchase Agreements) on the Private Placement Senior Notes and the other payment and performance obligations of the Company contained in the Private Placement Senior Notes and in the Private Placement Note Purchase Agreements. We are permitted, at our option and without penalty, to prepay from time to time at least 10% of the original aggregate principal amount of the Private Placement Senior Notes at 100% of the principal amount to be prepaid, together with interest accrued on such amount to be prepaid to the date of payment, plus a Make-Whole Amount. The Make-Whole Amount is computed by discounting the remaining scheduled payments of interest and principal of the Private Placement Senior Notes being prepaid at a discount rate equal to the sum of 50 basis points and the yield to maturity of U.S. treasury securities having a maturity equal to the remaining average life of the Private Placement Senior Notes being prepaid. We lease one of our cement plants from the city of Sugar Creek, Missouri. The city of Sugar Creek issued industrial revenue bonds to partly finance improvements to the cement plant. The lease payments due to the city of Sugar Creek under the cement plant lease, which was entered into upon the sale of the industrial revenue bonds, are equal in amount to the payments required to be made by the city of Sugar Creek to the holders of the industrial revenue bonds. Because we are the holder of all of the outstanding industrial revenue bonds, no debt is reflected on our financial statements in connection with our lease of the cement plant. At the conclusion of the lease in fiscal 2021, we have the option to purchase the cement plant for a nominal amount.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
SEGMENT INFORMATION	(L) SEGMENT INFORMATION Operating segments are defined as components of an enterprise that engage in business activities that earn revenues, incur expenses and prepare separate financial information that is evaluated regularly by our chief operating decision maker in order to allocate resources and assess performance. We operate in five business segments: Cement, Gypsum Wallboard, Recycled Paperboard, Oil and Gas Proppants and Concrete and Aggregates. These operations are conducted in the U.S. and include the mining of limestone and the manufacture, production, distribution and sale of Portland cement and slag (basic construction materials which are the essential binding ingredient in concrete), the grinding the mining of gypsum and the manufacture and sale of gypsum wallboard, the manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters, the sale of readymix concrete and the mining and sale of aggregates (crushed stone, sand and gravel) and sand used in hydraulic fracturing (“frac sand”). The products that we manufacture, distribute and sell are basic materials used with broad application as construction products, building materials, and basic materials used for oil and natural gas extraction. Our construction products are used in residential, industrial, commercial and infrastructure construction and include cement, slag, concrete and aggregates. Our building materials are sold into similar markets and include gypsum wallboard. Our basic materials used for oil and natural gas extraction include frac sand and oil well cement. We operate six cement plants, one slag grinding facility, sixteen cement distribution terminals, five gypsum wallboard plants, including the plant idled in Bernalillo, N.M., a gypsum wallboard distribution center, a recycled paperboard mill, seventeen readymix concrete batch plant locations, four aggregates processing plant locations, two frac sand processing facilities, including the mine idled in Utica, Illinois, three frac sand drying facilities, including the facility idled in Corpus Christi, Texas, and six frac sand trans-load locations. The principal markets for our cement products are Texas, northern Illinois (including Chicago), the central plains, the Rocky Mountains, northern Nevada, and northern California. Gypsum wallboard and recycled paperboard are distributed throughout the continental U.S, with the exception of the northeast. Concrete and aggregates are sold to local readymix producers and paving contractors in the Austin, Texas area, north of Sacramento, California and the greater Kansas City, Missouri area, while frac sand is currently sold into shale deposit zones across the United States. We conduct one of our six cement plant operations, Texas Lehigh Cement Company LP in Buda, Texas, through a Joint Venture. For segment reporting purposes only, we proportionately consolidate our 50% share of the Joint Venture’s revenues and operating earnings, which is consistent with the way management reports the segments within the Company for making operating decisions and assessing performance. We account for intersegment sales at market prices. The following table sets forth certain financial information relating to our operations by segment: For the Three Months Ended June 30, 2016 2015 (dollars in thousands) Revenues - Cement $ 144,792 $ 128,176 Gypsum Wallboard 113,262 115,052 Paperboard 42,815 35,318 Oil and Gas Proppants 5,096 22,825 Concrete and Aggregates 34,751 28,532 Sub-total 340,716 329,903 Less: Intersegment Revenues (18,324 ) (17,929 ) Net Revenues, including Joint Venture 322,392 311,974 Less: Joint Venture (24,888 ) (27,011 ) Net Revenues $ 297,504 $ 284,963 For the Three Months Ended June 30, 2016 2015 (dollars in thousands) Intersegment Revenues - Cement $ 3,535 $ 3,126 Paperboard 14,506 14,551 Concrete and Aggregates 283 252 $ 18,324 $ 17,929 Cement Sales Volume (in thousands of tons) - Wholly –owned Operations 1,033 991 Joint Venture 218 212 1,251 1,203 For the Three Months Ended June 30, 2016 2015 (dollars in thousands) Operating Earnings - Cement $ 31,600 $ 25,713 Gypsum Wallboard 39,336 40,894 Paperboard 11,227 6,030 Oil and Gas Proppants (5,912 ) (5,636 ) Concrete and Aggregates 3,684 1,926 Other, net 1,075 435 Sub-total 81,010 69,362 Corporate General and Administrative (9,833 ) (8,991 ) Earnings Before Interest and Income Taxes 71,177 60,371 Interest Expense, net (3,901 ) (4,486 ) Earnings Before Income Taxes $ 67,276 $ 55,885 Cement Operating Earnings - Wholly–owned Operations $ 23,620 $ 17,883 Joint Venture 7,980 7,830 $ 31,600 $ 25,713 Capital Expenditures - Cement $ 5,245 $ 8,150 Gypsum Wallboard 1,328 1,497 Paperboard 1,304 844 Oil and Gas Proppants 57 15,967 Concrete and Aggregates 1,044 664 Other — — $ 8,978 $ 27,122 Depreciation, Depletion and Amortization - Cement $ 8,611 $ 7,866 Gypsum Wallboard 4,762 4,786 Paperboard 2,100 2,053 Oil and Gas Proppants 5,184 7,559 Concrete and Aggregates 1,749 1,505 Other, net 457 495 $ 22,863 $ 24,264 As of June 30, March 31, (dollars in thousands) Identifiable Assets - Cement $ 845,018 $ 819,994 Gypsum Wallboard 380,640 392,523 Paperboard 128,448 127,371 Oil and Gas Proppants 401,285 409,497 Concrete and Aggregates 111,195 106,634 Corporate and Other 22,499 27,616 $ 1,889,085 $ 1,883,635 Segment operating earnings, including the proportionately consolidated 50% interest in the revenues and expenses of the Joint Venture, represent revenues, less direct operating expenses, segment depreciation, and segment selling, general and administrative expenses. Corporate assets consist primarily of cash and cash equivalents, general office assets, miscellaneous other assets and unrecognized tax benefits. The segment breakdown of goodwill is as follows: As of June 30, March 31, 2016 2016 (dollars in thousands) Cement $ 9,729 $ 9,729 Gypsum Wallboard 116,618 116,618 Paperboard 7,538 7,538 $ 133,885 $ 133,885 We perform our annual test of impairment on goodwill during the fourth quarter of our fiscal year. If business conditions in the operating units containing goodwill change substantially during the fiscal year, and we are unable to conclude that an impairment loss is not likely to occur, we will perform impairment tests for those business units during our quarterly periods. At June 30, 2016, we determined that impairment losses are not likely to occur; therefore, no impairment tests were performed during the quarter. Summarized financial information for the Joint Venture that is not consolidated is set out below (this summarized financial information includes the total amount for the Joint Venture and not our 50% interest in those amounts): For the Three Months 2016 2015 (dollars in thousands) Revenues $ 49,776 $ 54,022 Gross Margin $ 17,337 $ 17,012 Earnings Before Income Taxes $ 16,138 $ 15,660 As of June 30, March 31, (dollars in thousands) Current Assets $ 69,965 $ 70,491 Non-Current Assets $ 41,032 $ 41,464 Current Liabilities $ 16,399 $ 15,964

INTEREST EXPENSE

INTEREST EXPENSE	3 Months Ended
	Jun. 30, 2016
Banking And Thrift Interest [Abstract]
INTEREST EXPENSE	(M) INTEREST EXPENSE The following components are included in interest expense, net: For the Three Months 2016 2015 (dollars in thousands) Interest (Income) $ — $ (1 ) Interest Expense 3,748 4,296 Other Expenses 153 191 Interest Expense, net $ 3,901 $ 4,486 Interest income includes interest on investments of excess cash. Components of interest expense include interest associated with the Senior Notes, the Credit Facility and commitment fees based on the unused portion of the Credit Facility. Other expenses include amortization of debt issuance costs, and credit facility costs.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Jun. 30, 2016
Commitments And Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	(N) COMMITMENTS AND CONTINGENCIES We have certain deductible limits under our workers’ compensation and liability insurance policies for which reserves are established based on the undiscounted estimated costs of known and anticipated claims. We have entered into standby letter of credit agreements relating to workers’ compensation and auto and general liability self-insurance. At June 30, 2016, we had contingent liabilities under these outstanding letters of credit of approximately $10.7 million. In the ordinary course of business, we execute contracts involving indemnifications that are standard in the industry and indemnifications specific to a transaction such as sale of a business. These indemnifications may include claims relating to any of the following: environmental and tax matters; intellectual property rights; governmental regulations and employment-related matters; customer, supplier, and other commercial contractual relationships; construction contracts and financial matters. While the maximum amount to which the Company may be exposed under such agreements cannot be estimated, it is the opinion of management that these indemnifications are not expected to have a material adverse effect on our consolidated financial position, results of operations or cash flows. We currently have no outstanding guarantees. We are currently contingently liable for performance under $14.4 million in performance bonds required by certain states and municipalities, and their related agencies. The bonds are principally for certain reclamation obligations and mining permits. We have indemnified the underwriting insurance company against any exposure under the performance bonds. In our past experience, no material claims have been made against these financial instruments. EPA Notice of Violation On October 5, 2010, Region IX of the EPA issued a Notice of Violation and Finding of Violation (“NOV”) alleging violations by our subsidiary, Nevada Cement Company (“NCC”), of the Clean Air Act (“CAA”). The NOV alleges that NCC made certain physical changes to its facility in the 1990s without first obtaining permits required by the Prevention of Significant Deterioration requirements and Title V permit requirements of the CAA. The EPA also alleges that NCC has failed to submit to the EPA since 2002 certain reports required by the National Emissions Standard for Hazardous Air Pollutants General Provisions and the Portland Cement Manufacturing Industry Standards. On March 12, 2014, the EPA Region IX issued a second NOV to NCC. The second NOV is materially similar to the 2010 NOV except that it alleges violations of the new source performance standards (“NSPS”) for Portland cement plants. The NOVs state that the EPA may seek penalties although it does not propose or assess any specific level of penalties or specify what relief the EPA will seek for the alleged violations. NCC believes it has meritorious defenses to the allegations in the NOVs. The EPA and NCC remain in discussions regarding a resolution of the alleged violations. If a negotiated settlement cannot be reached, NCC intends to vigorously defend these matters in any enforcement action that may be pursued by the EPA. As a part of a settlement, or should NCC fail in its defense in any enforcement action, NCC could be required to make substantial capital expenditures to modify its facility and incur increased operating costs. NCC could also be required to pay significant civil penalties. Additionally, an enforcement action could take many years to resolve the underlying issues alleged in the NOV. We are currently unable to determine the final outcome of this matter or the impact of an unfavorable determination upon our financial position or results of operations. Domestic Wallboard Antitrust Litigation Since late December 2012, several purported class action lawsuits were filed in various United States District Courts, including the Eastern District of Pennsylvania, Western District of North Carolina and the Northern District of Illinois, against the Company’s subsidiary, American Gypsum Company LLC (“American Gypsum”), alleging that American Gypsum conspired with other wallboard manufacturers to fix the price for drywall sold in the United States in violation of federal antitrust laws and, in some cases related provisions of state law. The complaints allege that the defendant wallboard manufacturers conspired to increase prices through the announcement and implementation of coordinated price increases, output restrictions, and other restraints of trade, including the elimination of individual “job quote” pricing. In addition to American Gypsum, the defendants in these lawsuits include CertainTeed Corp., USG Corporation and United States Gypsum (together “USG”), New NGC, Inc., Lafarge North America (“Lafarge”), Temple Inland Inc. (“TIN”) and PABCO Building Products LLC. On April 8, 2013, the Judicial Panel on Multidistrict Litigation (“JPML”) transferred and consolidated all related cases to the Eastern District of Pennsylvania for coordinated pretrial proceedings. On June 24, 2013, the direct and indirect purchaser plaintiffs filed consolidated amended class action complaints. The direct purchasers’ complaint added the Company as a defendant. The plaintiffs in the consolidated class action lawsuits bring claims on behalf of purported classes of direct or indirect purchasers of wallboard from January 1, 2012 to the present for unspecified monetary damages (including treble damages) and in some cases injunctive relief. On July 29, 2013, the Company and American Gypsum answered the complaints, denying all allegations that they conspired to increase the price of drywall and asserting affirmative defenses to the plaintiffs’ claims. In 2014, USG and TIN entered into agreements with counsel representing the direct and indirect purchaser classes pursuant to which they agreed to settle all claims against them. On August 20, 2015, the court entered orders finally approving USG and TIN’s settlements with the direct and indirect purchaser plaintiffs. Initial discovery in this litigation is complete. Following completion of the initial discovery, the Company and remaining co-defendants moved for summary judgement. On February 18, 2016, the court denied the Company’s motion for summary judgement. On June 16, 2016, Lafarge entered into an agreement with counsel for the direct purchaser class under which it agreed to settle all claims against it. The court entered an order preliminarily approving this settlement on July 18, 2016. On July 14, 2016, the Company’s motion for permission to appeal the summary judgement decision to the U.S. Court of Appeals for the Third Circuit was denied. Discovery related to this class certification is ongoing. At this stage we are unable to estimate the amount of any reasonably possible loss or range of reasonably possible losses. We deny the allegations in these lawsuits and will vigorously defend ourselves against these claims. On March 17, 2015, a group of homebuilders filed a complaint against the defendants, including American Gypsum, based upon the same conduct alleged in the consolidated class action complaints. On March 24, 2015, the JPML transferred this action to the multidistrict litigation already pending in the Eastern District of Pennsylvania. Following the transfer, the homebuilder plaintiffs filed two amended complaints, on December 14, 2015 and March 25, 2016. Discovery in this lawsuit is ongoing. In June 2015, American Gypsum and an employee received grand jury subpoenas from the United States District Court for the Western District of North Carolina seeking information regarding an investigation of the gypsum drywall industry by the Antitrust Division of the Department of Justice. We believe the investigation, although a separate proceeding, is related to the same subject matter at issue in the litigation described above and we intend to fully cooperate with government officials. Given its preliminary nature, we are currently unable to determine the ultimate outcome of such investigation.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	3 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	(O) FAIR VALUE OF FINANCIAL INSTRUMENTS The fair value of our long-term debt has been estimated based upon our current incremental borrowing rates for similar types of borrowing arrangements. The fair value of our Private Placement Senior Notes at June 30, 2016 is as follows: Fair Value (dollars in thousands) Series 2005A Tranche C $ 59,197 Series 2007A Tranche B 8,074 Series 2007A Tranche C 25,025 Series 2007A Tranche D 40,108 The estimated fair value of our long-term debt was based on quoted prices of similar debt instruments with similar terms that are publicly traded (level 2 input). The carrying values of cash and cash equivalents, accounts and notes receivable, accounts payable and accrued liabilities approximate their fair values at June 30, 2016 due to the short-term maturities of these assets and liabilities. The fair value of our Credit Facility also approximates its carrying value at June 30, 2016.

FINANCIAL STATEMENTS FOR GUARAN

FINANCIAL STATEMENTS FOR GUARANTORS OF THE SENIOR NOTES	3 Months Ended
	Jun. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
FINANCIAL STATEMENTS FOR GUARANTORS OF THE SENIOR NOTES	(P) FINANCIAL STATEMENTS FOR GUARANTORS OF THE SENIOR NOTES On July 25, 2016, the Company launched a public offering of $300.0 million principal of senior unsecured notes due in 2026 (the “New Notes”). The New Notes will be senior unsecured obligations of the Company and will be offered under the Company’s existing shelf registration statement filed with the Securities and Exchange Commission. The New Notes will be guaranteed by all of the Company’s wholly-owned subsidiaries, and all guarantees will be full and unconditional and are joint and several. The following unaudited condensed consolidating financial statements present separately the earnings and comprehensive earnings, financial position and cash flows of the parent issuer (Eagle Materials Inc.) and the guarantors (all wholly-owned subsidiaries of Eagle Materials Inc.) on a combined basis with eliminating entries (dollars in thousands) . Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Three Months Ended June 30, 2016 Parent Guarantor Eliminations Consolidated Revenues $ — $ 297,504 $ — $ 297,504 Cost of Goods Sold — 225,549 — 225,549 Gross Profit — 71,955 — 71,955 Equity in Earnings of Unconsolidated Joint Venture 7,980 7,980 (7,980 ) 7,980 Equity in Earnings of Subsidiaries 49,703 — (49,703 ) — Corporate General and Administrative Expenses (8,231 ) (1,602 ) — (9,833 ) Other Income (Loss) (77 ) 1,152 — 1,075 Interest Expense, net (10,011 ) 6,110 — (3,901 ) Earnings before Income Taxes 39,364 85,595 (57,683 ) 67,276 Income Taxes 5,980 (27,912 ) — (21,932 ) Net Earnings $ 45,344 $ 57,683 $ (57,683 ) $ 45,344 Net Earnings $ 45,344 $ 57,683 $ (57,683 ) $ 45,344 Net Actuarial Change in Benefit Plans, net of tax 312 312 (312 ) 312 Comprehensive Earnings $ 45,656 $ 57,995 $ (57,995 ) $ 45,656 Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Three Months Ended June 30, 2015 Parent Guarantor Eliminations Consolidated Revenues $ — $ 284,963 $ — $ 284,963 Cost of Goods Sold — 223,866 — 223,866 Gross Profit — 61,097 — 61,097 Equity in Earnings of Unconsolidated Joint Venture 7,830 7,830 (7,830 ) 7,830 Equity in Earnings of Subsidiaries 41,446 — (41,446 ) — Corporate General and Administrative Expenses (7,691 ) (1,300 ) — (8,991 ) Other Income (133 ) 568 — 435 Interest Expense, net (9,216 ) 4,730 — (4,486 ) Earnings before Income Taxes 32,236 72,925 (49,276 ) 55,885 Income Taxes 5,526 (23,649 ) — (18,123 ) Net Earnings $ 37,762 $ 49,276 $ (49,276 ) $ 37,762 Net Earnings $ 37,762 $ 49,276 $ (49,276 ) $ 37,762 Net Actuarial Change in Benefit Plans, net of tax 131 131 (131 ) 131 Comprehensive Earnings $ 37,893 $ 49,407 $ (49,407 ) $ 37,893 Condensed Consolidating Balance Sheet At June 30, 2016 Parent Guarantor Eliminations Consolidated ASSETS Current Assets - Cash and Cash Equivalents $ 4,208 $ 4,972 $ — $ 9,180 Accounts and Notes Receivable 1,135 141,163 — 142,298 Inventories — 240,999 — 240,999 Income Tax Receivable 17,349 — (17,349 ) — Prepaid and Other Current Assets 1,485 6,535 — 8,020 Total Current Assets 24,177 393,669 (17,349 ) 400,497 Property, Plant and Equipment - 2,613 2,080,979 — 2,083,592 Less: Accumulated Depreciation (842 ) (836,400 ) — (837,242 ) Property, Plant and Equipment, net 1,771 1,244,579 — 1,246,350 Notes Receivable — 2,652 — 2,652 Deferred Income Taxes 3,974 — (3,974 ) — Investment in Joint Venture 37 48,663 — 48,700 Investments in Subsidiaries and Receivables from Affiliates 4,219,567 2,682,721 (6,902,288 ) — Goodwill and Intangible Assets, net — 163,298 — 163,298 Other Assets 5,473 22,115 — 27,588 $ 4,254,999 $ 4,557,697 $ (6,923,611 ) $ 1,889,085 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities- Accounts Payable $ 6,320 $ 55,002 $ — $ 61,322 Accrued Liabilities 10,563 29,946 — 40,509 Income Tax Payable — 27,268 (17,349 ) 9,919 Current Portion of Long-term Debt 8,000 — — 8,000 Total Current Liabilities 24,883 112,216 (17,349 ) 119,750 Long-term Debt 490,714 — — 490,714 Other Long-term Liabilities 239 58,403 — 58,642 Payables to Affiliates 2,682,720 2,133,303 (4,816,023 ) — Deferred Income Taxes — 167,510 (3,974 ) 163,536 Total Liabilities 3,198,556 2,471,432 (4,837,346 ) 832,642 Total Stockholders’ Equity 1,056,443 2,086,265 (2,086,265 ) 1,056,443 $ 4,254,999 $ 4,557,697 $ (6,923,611 ) $ 1,889,085 Condensed Consolidating Balance Sheet At March 31, 2016 Parent Guarantor Eliminations Consolidated ASSETS Current Assets - Cash and Cash Equivalents $ 3,507 $ 1,884 $ — $ 5,391 Accounts and Notes Receivable 324 119,897 — 120,221 Inventories — 243,595 — 243,595 Income Tax Receivable — 6,731 (1,108 ) 5,623 Prepaid and Other Current Assets 1,365 3,808 — 5,173 Total Current Assets 5,196 375,915 (1,108 ) 380,003 Property, Plant and Equipment - 2,612 2,070,164 — 2,072,776 Less: Accumulated Depreciation (814 ) (816,651 ) — (817,465 ) Property, Plant and Equipment, net 1,798 1,253,513 — 1,255,311 Notes Receivable — 2,672 — 2,672 Deferred Income Taxes 3,375 — (3,375 ) — Investment in Joint Venture 33 49,432 — 49,465 Investments in Subsidiaries and Receivables from Affiliates 4,085,806 2,529,480 (6,615,286 ) — Goodwill and Intangible Assets, net — 165,827 — 165,827 Other Assets 5,557 24,800 — 30,357 $ 4,101,765 $ 4,401,639 $ (6,619,769 ) $ 1,883,635 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities- Accounts Payable $ 6,968 $ 59,646 $ — $ 66,614 Accrued Liabilities 15,708 30,267 — 45,975 Income Tax Payable 1,108 — (1,108 ) — Current Portion of Long-term Debt 8,000 — — 8,000 Total Current Liabilities 31,784 89,913 (1,108 ) 120,589 Long-term Debt 499,714 — — 499,714 Other Long-term Liabilities 256 60,866 — 61,122 Payables to Affiliates 2,529,480 2,042,633 (4,572,113 ) — Deferred Income Taxes — 165,054 (3,375 ) 161,679 Total Liabilities 3,061,234 2,358,466 (4,576,596 ) 843,104 Total Stockholders’ Equity 1,040,531 2,043,173 (2,043,173 ) 1,040,531 $ 4,101,765 $ 4,401,639 $ (6,619,769 ) $ 1,883,635 Condensed Consolidating Statement of Cash Flows Three Months ended June 30, 2016 Parent Guarantor Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES Net Cash Provided by (Used in) Operating Activities $ (35,457 ) $ 89,540 $ — $ 54,083 CASH FLOWS FROM INVESTING ACTIVITIES Additions to Property, Plant and Equipment — (8,978 ) — (8,978 ) Net Cash Used in Investing Activities — (8,978 ) — (8,978 ) CASH FLOWS FROM FINANCING ACTIVITIES Increase in Credit Facility (9,000 ) — — (9,000 ) Dividends Paid to Stockholders (4,828 ) — — (4,828 ) Purchase and Retirement of Common Stock (39,135 ) — — (39,135 ) Proceeds from Stock Option Exercises 10,632 — — 10,632 Shares Redeemed to Settle Employee Taxes on Stock Compensation (2,284 ) — — (2,284 ) Excess Tax Benefits from Share Based Payment Arrangements 3,299 — — 3,299 Intra-entity Activity, net 77,474 (77,474 ) — — Net Cash Provided by (Used in) Financing Activities 36,158 (77,474 ) — (41,316 ) NET INCREASE IN CASH AND CASH EQUIVALENTS 701 3,088 — 3,789 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 3,507 1,884 — 5,391 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 4,208 $ 4,972 $ — $ 9,180 Condensed Consolidating Statement of Cash Flows Three Months ended June 30, 2015 Parent Guarantor Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES Net Cash Provided by (Used in) Operating Activities $ (35,394 ) $ 56,009 $ — $ 20,615 CASH FLOWS FROM INVESTING ACTIVITIES Additions to Property, Plant and Equipment — (27,122 ) — (27,122 ) Net Cash Used in Investing Activities — (27,122 ) — (27,122 ) CASH FLOWS FROM FINANCING ACTIVITIES Increase in Credit Facility 11,000 — — 11,000 Dividends Paid to Stockholders (5,025 ) — — (5,025 ) Purchase and Retirement of Common Stock — — — — Proceeds from Stock Option Exercises 950 — — 950 Shares Redeemed to Settle Employee Taxes on Stock Compensation (1,523 ) — — (1,523 ) Excess Tax Benefits from Share Based Payment Arrangements 1,142 — — 1,142 Intra-entity Activity, net 30,048 (30,048 ) — — Net Cash Provided by (Used in) Financing Activities 36,592 (30,048 ) — 6,544 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,198 (1,161 ) — 37 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 3,644 3,870 — 7,514 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 4,482 $ 2,709 $ — $ 7,551

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, “Revenue from Contracts with Customers.” ASU 2014-09 supersedes the revenue recognition requirements in “Revenue Recognition (Topic 605),” and requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to in exchange for those goods or services. The standard will be effective for us in the first quarter of fiscal 2019. We will adopt the new standard using the modified retrospective approach, which requires the standard be applied only to the most current period presented, with the cumulative effect of initially applying the standard recognized at the date of initial application. . In March 2016, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2016-09, “Improvements to Employee Share-Based Payment Accounting,” which provides for simplification of certain aspects of employee share-based payment accounting, including income taxes, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The standard will be effective for us in the first quarter of fiscal 2018 and will be applied either prospectively, retrospectively or using a modified retrospective transition approach depending on the area covered in this update. We are currently assessing the impact of the ASU on our consolidated financial statements and disclosures . In February 2016, the FASB issued ASU 2016-02, “Leases”, which supersedes existing lease guidance to require lessees to recognize assets and liabilities on the balance sheet for the rights and obligations created by long-term leases and to disclose additional quantitative and qualitative information about leasing arrangements. The standard will be effective for us in the first quarter of fiscal 2020, and we will adopt using the modified retrospective approach. We are currently assessing the impact of the ASU on our consolidated financial statements and disclosures, as well as our internal lease accounting processes.

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	3 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Summary of Changes in Stockholders' Equity	A summary of changes in stockholders’ equity follows: For the Three Months Ended June 30, 2016 (dollars in thousands) Common Stock – Balance at Beginning of Period $ 485 Purchase and Retirement of Common Stock (6 ) Issuance of Restricted Stock 1 Stock Option Exercises 4 Balance at End of Period 484 Capital in Excess of Par Value – Balance at Beginning of Period 168,969 Stock Compensation Expense 2,593 Shares Redeemed to Settle Employee Taxes (2,284 ) Purchase and Retirement of Common Stock (39,129 ) Tax Benefit of Stock Option Exercises 3,299 Stock Option Exercises 10,628 Balance at End of Period 144,076 Retained Earnings – Balance at Beginning of Period 882,486 Dividends Declared to Stockholders (4,850 ) Net Earnings 45,344 Balance at End of Period 922,980 Accumulated Other Comprehensive Loss - Balance at Beginning of Period (11,409 ) Change in Funded Status of Pension Plan, net of tax 312 Balance at End of Period (11,097 ) Total Stockholders’ Equity $ 1,056,443

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Jun. 30, 2016
Inventory Disclosure [Abstract]
Schedule Of Inventories	Inventories are stated at the lower of average cost (including applicable material, labor, depreciation, and plant overhead) or market, and consist of the following: As of June 30, March 31, (dollars in thousands) Raw Materials and Material-in-Progress $ 120,679 $ 119,060 Finished Cement 21,785 21,834 Gypsum Wallboard 6,422 5,839 Frac Sand 4,831 5,501 Aggregates 9,493 10,660 Paperboard 5,986 7,575 Repair Parts and Supplies 66,929 68,155 Fuel and Coal 4,874 4,971 $ 240,999 $ 243,595

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	3 Months Ended
	Jun. 30, 2016
Payables And Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consist of the following: As of June 30, March 31, (dollars in thousands) Payroll and Incentive Compensation $ 13,800 $ 19,956 Benefits 11,054 10,663 Interest 1,791 3,373 Property Taxes 5,079 4,186 Power and Fuel 1,248 1,390 Sales and Use Tax 801 1,486 Legal 2,254 549 Other 4,482 4,372 $ 40,509 $ 45,975

SHARE-BASED EMPLOYEE COMPENSA27

SHARE-BASED EMPLOYEE COMPENSATION (Tables)	3 Months Ended
	Jun. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Weighted-Average Assumptions Used to Value Option Awards	The weighted-average assumptions used in the Black-Scholes model to value the option awards in fiscal 2016 are as follows: Fiscal 2017 Dividend Yield 1.3% Expected Volatility 36.5% Risk Free Interest Rate 1.4% Expected Life 6.0 years
Stock Option Activity	The following table represents stock option activity for the three month period ended June 30, 2016: Number Weighted- Outstanding Options at Beginning of Period 1,817,763 $ 53.03 Granted 174,470 $ 75.78 Exercised (330,341 ) $ 33.70 Cancelled (16,840 ) $ 67.92 Outstanding Options at End of Period 1,645,052 $ 59.15 Options Exercisable at End of Period 1,060,879 $ 49.56 Weighted-Average Fair Value of Options Granted during the Period $ 24.42
Stock Options Outstanding	The following table summarizes information about stock options outstanding at June 30, 2016: Outstanding Options Exercisable Options Range of Exercise Prices Number of Weighted - Weighted - Number of Weighted - $23.17 – $ 30.74 349,570 3.58 $ 25.90 348,570 $ 25.89 $33.43 – $ 37.95 281,973 5.76 $ 34.05 272,973 $ 33.97 $53.22 – $ 77.67 455,765 8.29 $ 69.93 171,545 $ 67.07 $79.73 – $ 93.56 557,744 8.50 $ 83.88 267,791 $ 85.04 1,645,052 6.93 $ 59.15 1,060,879 $ 49.56

COMPUTATION OF EARNINGS PER S28

COMPUTATION OF EARNINGS PER SHARE (Tables)	3 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Common Shares Outstanding	The calculation of basic and diluted common shares outstanding is as follows: For the Three Months Ended June 30, 2016 2015 Weighted-Average Shares of Common Stock Outstanding 48,014,195 49,767,424 Common Equivalent Shares: Assumed Exercise of Outstanding Dilutive Options 1,039,189 1,328,364 Less: Shares Repurchased from Assumed Proceeds of Assumed Exercised Options (715,139 ) (876,472 ) Restricted Shares 183,962 231,592 Weighted-Average Common and Common Equivalent Shares Outstanding 48,522,207 50,450,908 Shares Excluded Due to Anti-dilution Effects 692,219 457,687

PENSION AND EMPLOYEE BENEFIT 29

PENSION AND EMPLOYEE BENEFIT PLANS (Tables)	3 Months Ended
	Jun. 30, 2016
Compensation And Retirement Disclosure [Abstract]
Components of Net Periodic Cost	The following table shows the components of net periodic cost for our plans: For the Three Months Ended 2016 2015 (dollars in thousands) Service Cost – Benefits Earned During the Period $ 222 $ 231 Interest Cost of Benefit Obligations 399 381 Expected Return on Plan Assets (416 ) (430 ) Recognized Net Actuarial Loss 425 433 Amortization of Prior-Service Cost 75 75 Net Periodic Pension Cost $ 705 $ 690

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	3 Months Ended
	Jun. 30, 2016
Debt Instrument [Line Items]
Long-Term Debt	Long-term debt consists of the following: As of June 30, 2016 March 31, 2016 (dollars in thousands) Credit Facility $ 373,000 $ 382,000 Senior Unsecured Notes 125,714 125,714 Total Debt 498,714 507,714 Less: Current Portion of Long-term Debt (8,000 ) (8,000 ) Total Debt $ 490,714 $ 499,714
2005 Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Amount Outstanding of Tranches	At June 30, 2016, the amount outstanding for the remaining tranche is as follows: Principal Maturity Date Interest Rate Tranche C $ 57.2 million November 15, 2017 5.48%
2007 Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Amount Outstanding of Tranches	At June 30, 2016, the amounts outstanding for each of the remaining tranches were as follows: Principal Maturity Date Interest Rate Tranche B $ 8.0 million October 2, 2016 6.27% Tranche C $ 24.0 million October 2, 2017 6.36% Tranche D $ 36.5 million October 2, 2019 6.48%

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Financial Information Related to Operations by Segment	The following table sets forth certain financial information relating to our operations by segment: For the Three Months Ended June 30, 2016 2015 (dollars in thousands) Revenues - Cement $ 144,792 $ 128,176 Gypsum Wallboard 113,262 115,052 Paperboard 42,815 35,318 Oil and Gas Proppants 5,096 22,825 Concrete and Aggregates 34,751 28,532 Sub-total 340,716 329,903 Less: Intersegment Revenues (18,324 ) (17,929 ) Net Revenues, including Joint Venture 322,392 311,974 Less: Joint Venture (24,888 ) (27,011 ) Net Revenues $ 297,504 $ 284,963 For the Three Months Ended June 30, 2016 2015 (dollars in thousands) Intersegment Revenues - Cement $ 3,535 $ 3,126 Paperboard 14,506 14,551 Concrete and Aggregates 283 252 $ 18,324 $ 17,929 Cement Sales Volume (in thousands of tons) - Wholly –owned Operations 1,033 991 Joint Venture 218 212 1,251 1,203 For the Three Months Ended June 30, 2016 2015 (dollars in thousands) Operating Earnings - Cement $ 31,600 $ 25,713 Gypsum Wallboard 39,336 40,894 Paperboard 11,227 6,030 Oil and Gas Proppants (5,912 ) (5,636 ) Concrete and Aggregates 3,684 1,926 Other, net 1,075 435 Sub-total 81,010 69,362 Corporate General and Administrative (9,833 ) (8,991 ) Earnings Before Interest and Income Taxes 71,177 60,371 Interest Expense, net (3,901 ) (4,486 ) Earnings Before Income Taxes $ 67,276 $ 55,885 Cement Operating Earnings - Wholly–owned Operations $ 23,620 $ 17,883 Joint Venture 7,980 7,830 $ 31,600 $ 25,713 Capital Expenditures - Cement $ 5,245 $ 8,150 Gypsum Wallboard 1,328 1,497 Paperboard 1,304 844 Oil and Gas Proppants 57 15,967 Concrete and Aggregates 1,044 664 Other — — $ 8,978 $ 27,122 Depreciation, Depletion and Amortization - Cement $ 8,611 $ 7,866 Gypsum Wallboard 4,762 4,786 Paperboard 2,100 2,053 Oil and Gas Proppants 5,184 7,559 Concrete and Aggregates 1,749 1,505 Other, net 457 495 $ 22,863 $ 24,264 As of June 30, March 31, (dollars in thousands) Identifiable Assets - Cement $ 845,018 $ 819,994 Gypsum Wallboard 380,640 392,523 Paperboard 128,448 127,371 Oil and Gas Proppants 401,285 409,497 Concrete and Aggregates 111,195 106,634 Corporate and Other 22,499 27,616 $ 1,889,085 $ 1,883,635
Segment Breakdown of Goodwill	The segment breakdown of goodwill is as follows: As of June 30, March 31, 2016 2016 (dollars in thousands) Cement $ 9,729 $ 9,729 Gypsum Wallboard 116,618 116,618 Paperboard 7,538 7,538 $ 133,885 $ 133,885
Summarized Financial Information for Joint Venture Unconsolidated	Summarized financial information for the Joint Venture that is not consolidated is set out below (this summarized financial information includes the total amount for the Joint Venture and not our 50% interest in those amounts): For the Three Months 2016 2015 (dollars in thousands) Revenues $ 49,776 $ 54,022 Gross Margin $ 17,337 $ 17,012 Earnings Before Income Taxes $ 16,138 $ 15,660 As of June 30, March 31, (dollars in thousands) Current Assets $ 69,965 $ 70,491 Non-Current Assets $ 41,032 $ 41,464 Current Liabilities $ 16,399 $ 15,964

INTEREST EXPENSE (Tables)

INTEREST EXPENSE (Tables)	3 Months Ended
	Jun. 30, 2016
Banking And Thrift Interest [Abstract]
Interest Expense, Net	The following components are included in interest expense, net: For the Three Months 2016 2015 (dollars in thousands) Interest (Income) $ — $ (1 ) Interest Expense 3,748 4,296 Other Expenses 153 191 Interest Expense, net $ 3,901 $ 4,486

FAIR VALUE OF FINANCIAL INSTR33

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value of Senior Notes	The fair value of our long-term debt has been estimated based upon our current incremental borrowing rates for similar types of borrowing arrangements. The fair value of our Private Placement Senior Notes at June 30, 2016 is as follows: Fair Value (dollars in thousands) Series 2005A Tranche C $ 59,197 Series 2007A Tranche B 8,074 Series 2007A Tranche C 25,025 Series 2007A Tranche D 40,108

FINANCIAL STATEMENTS FOR GUAR34

FINANCIAL STATEMENTS FOR GUARANTORS OF THE SENIOR NOTES (Tables)	3 Months Ended
	Jun. 30, 2016
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Condensed Consolidating Statement of Earnings and Comprehensive Earnings	Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Three Months Ended June 30, 2016 Parent Guarantor Eliminations Consolidated Revenues $ — $ 297,504 $ — $ 297,504 Cost of Goods Sold — 225,549 — 225,549 Gross Profit — 71,955 — 71,955 Equity in Earnings of Unconsolidated Joint Venture 7,980 7,980 (7,980 ) 7,980 Equity in Earnings of Subsidiaries 49,703 — (49,703 ) — Corporate General and Administrative Expenses (8,231 ) (1,602 ) — (9,833 ) Other Income (Loss) (77 ) 1,152 — 1,075 Interest Expense, net (10,011 ) 6,110 — (3,901 ) Earnings before Income Taxes 39,364 85,595 (57,683 ) 67,276 Income Taxes 5,980 (27,912 ) — (21,932 ) Net Earnings $ 45,344 $ 57,683 $ (57,683 ) $ 45,344 Net Earnings $ 45,344 $ 57,683 $ (57,683 ) $ 45,344 Net Actuarial Change in Benefit Plans, net of tax 312 312 (312 ) 312 Comprehensive Earnings $ 45,656 $ 57,995 $ (57,995 ) $ 45,656 Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Three Months Ended June 30, 2015 Parent Guarantor Eliminations Consolidated Revenues $ — $ 284,963 $ — $ 284,963 Cost of Goods Sold — 223,866 — 223,866 Gross Profit — 61,097 — 61,097 Equity in Earnings of Unconsolidated Joint Venture 7,830 7,830 (7,830 ) 7,830 Equity in Earnings of Subsidiaries 41,446 — (41,446 ) — Corporate General and Administrative Expenses (7,691 ) (1,300 ) — (8,991 ) Other Income (133 ) 568 — 435 Interest Expense, net (9,216 ) 4,730 — (4,486 ) Earnings before Income Taxes 32,236 72,925 (49,276 ) 55,885 Income Taxes 5,526 (23,649 ) — (18,123 ) Net Earnings $ 37,762 $ 49,276 $ (49,276 ) $ 37,762 Net Earnings $ 37,762 $ 49,276 $ (49,276 ) $ 37,762 Net Actuarial Change in Benefit Plans, net of tax 131 131 (131 ) 131 Comprehensive Earnings $ 37,893 $ 49,407 $ (49,407 ) $ 37,893
Condensed Consolidating Balance Sheet	Condensed Consolidating Balance Sheet At June 30, 2016 Parent Guarantor Eliminations Consolidated ASSETS Current Assets - Cash and Cash Equivalents $ 4,208 $ 4,972 $ — $ 9,180 Accounts and Notes Receivable 1,135 141,163 — 142,298 Inventories — 240,999 — 240,999 Income Tax Receivable 17,349 — (17,349 ) — Prepaid and Other Current Assets 1,485 6,535 — 8,020 Total Current Assets 24,177 393,669 (17,349 ) 400,497 Property, Plant and Equipment - 2,613 2,080,979 — 2,083,592 Less: Accumulated Depreciation (842 ) (836,400 ) — (837,242 ) Property, Plant and Equipment, net 1,771 1,244,579 — 1,246,350 Notes Receivable — 2,652 — 2,652 Deferred Income Taxes 3,974 — (3,974 ) — Investment in Joint Venture 37 48,663 — 48,700 Investments in Subsidiaries and Receivables from Affiliates 4,219,567 2,682,721 (6,902,288 ) — Goodwill and Intangible Assets, net — 163,298 — 163,298 Other Assets 5,473 22,115 — 27,588 $ 4,254,999 $ 4,557,697 $ (6,923,611 ) $ 1,889,085 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities- Accounts Payable $ 6,320 $ 55,002 $ — $ 61,322 Accrued Liabilities 10,563 29,946 — 40,509 Income Tax Payable — 27,268 (17,349 ) 9,919 Current Portion of Long-term Debt 8,000 — — 8,000 Total Current Liabilities 24,883 112,216 (17,349 ) 119,750 Long-term Debt 490,714 — — 490,714 Other Long-term Liabilities 239 58,403 — 58,642 Payables to Affiliates 2,682,720 2,133,303 (4,816,023 ) — Deferred Income Taxes — 167,510 (3,974 ) 163,536 Total Liabilities 3,198,556 2,471,432 (4,837,346 ) 832,642 Total Stockholders’ Equity 1,056,443 2,086,265 (2,086,265 ) 1,056,443 $ 4,254,999 $ 4,557,697 $ (6,923,611 ) $ 1,889,085 Condensed Consolidating Balance Sheet At March 31, 2016 Parent Guarantor Eliminations Consolidated ASSETS Current Assets - Cash and Cash Equivalents $ 3,507 $ 1,884 $ — $ 5,391 Accounts and Notes Receivable 324 119,897 — 120,221 Inventories — 243,595 — 243,595 Income Tax Receivable — 6,731 (1,108 ) 5,623 Prepaid and Other Current Assets 1,365 3,808 — 5,173 Total Current Assets 5,196 375,915 (1,108 ) 380,003 Property, Plant and Equipment - 2,612 2,070,164 — 2,072,776 Less: Accumulated Depreciation (814 ) (816,651 ) — (817,465 ) Property, Plant and Equipment, net 1,798 1,253,513 — 1,255,311 Notes Receivable — 2,672 — 2,672 Deferred Income Taxes 3,375 — (3,375 ) — Investment in Joint Venture 33 49,432 — 49,465 Investments in Subsidiaries and Receivables from Affiliates 4,085,806 2,529,480 (6,615,286 ) — Goodwill and Intangible Assets, net — 165,827 — 165,827 Other Assets 5,557 24,800 — 30,357 $ 4,101,765 $ 4,401,639 $ (6,619,769 ) $ 1,883,635 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities- Accounts Payable $ 6,968 $ 59,646 $ — $ 66,614 Accrued Liabilities 15,708 30,267 — 45,975 Income Tax Payable 1,108 — (1,108 ) — Current Portion of Long-term Debt 8,000 — — 8,000 Total Current Liabilities 31,784 89,913 (1,108 ) 120,589 Long-term Debt 499,714 — — 499,714 Other Long-term Liabilities 256 60,866 — 61,122 Payables to Affiliates 2,529,480 2,042,633 (4,572,113 ) — Deferred Income Taxes — 165,054 (3,375 ) 161,679 Total Liabilities 3,061,234 2,358,466 (4,576,596 ) 843,104 Total Stockholders’ Equity 1,040,531 2,043,173 (2,043,173 ) 1,040,531 $ 4,101,765 $ 4,401,639 $ (6,619,769 ) $ 1,883,635
Condensed Consolidated Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows Three Months ended June 30, 2016 Parent Guarantor Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES Net Cash Provided by (Used in) Operating Activities $ (35,457 ) $ 89,540 $ — $ 54,083 CASH FLOWS FROM INVESTING ACTIVITIES Additions to Property, Plant and Equipment — (8,978 ) — (8,978 ) Net Cash Used in Investing Activities — (8,978 ) — (8,978 ) CASH FLOWS FROM FINANCING ACTIVITIES Increase in Credit Facility (9,000 ) — — (9,000 ) Dividends Paid to Stockholders (4,828 ) — — (4,828 ) Purchase and Retirement of Common Stock (39,135 ) — — (39,135 ) Proceeds from Stock Option Exercises 10,632 — — 10,632 Shares Redeemed to Settle Employee Taxes on Stock Compensation (2,284 ) — — (2,284 ) Excess Tax Benefits from Share Based Payment Arrangements 3,299 — — 3,299 Intra-entity Activity, net 77,474 (77,474 ) — — Net Cash Provided by (Used in) Financing Activities 36,158 (77,474 ) — (41,316 ) NET INCREASE IN CASH AND CASH EQUIVALENTS 701 3,088 — 3,789 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 3,507 1,884 — 5,391 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 4,208 $ 4,972 $ — $ 9,180 Condensed Consolidating Statement of Cash Flows Three Months ended June 30, 2015 Parent Guarantor Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES Net Cash Provided by (Used in) Operating Activities $ (35,394 ) $ 56,009 $ — $ 20,615 CASH FLOWS FROM INVESTING ACTIVITIES Additions to Property, Plant and Equipment — (27,122 ) — (27,122 ) Net Cash Used in Investing Activities — (27,122 ) — (27,122 ) CASH FLOWS FROM FINANCING ACTIVITIES Increase in Credit Facility 11,000 — — 11,000 Dividends Paid to Stockholders (5,025 ) — — (5,025 ) Purchase and Retirement of Common Stock — — — — Proceeds from Stock Option Exercises 950 — — 950 Shares Redeemed to Settle Employee Taxes on Stock Compensation (1,523 ) — — (1,523 ) Excess Tax Benefits from Share Based Payment Arrangements 1,142 — — 1,142 Intra-entity Activity, net 30,048 (30,048 ) — — Net Cash Provided by (Used in) Financing Activities 36,592 (30,048 ) — 6,544 NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 1,198 (1,161 ) — 37 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 3,644 3,870 — 7,514 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 4,482 $ 2,709 $ — $ 7,551

Cash Flow Information - Suppl35

Cash Flow Information - Supplemental - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Cash payments made for interest	$ 5.3	$ 6.6
Net payments made for federal and state income taxes	$ 1.6	$ 11.8

Accounts and Notes Receivable -

Accounts and Notes Receivable - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2016	Mar. 31, 2016
Receivables [Abstract]
Allowance for doubtful accounts	$ 10.3	$ 10.2
Notes receivable, total	2.8
Notes receivable, current	$ 0.2
Notes receivable interest rate	3.50%
Notes receivable, maturity period	2017-03

Summary of Change in Stockholde

Summary of Change in Stockholder's Equity (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Stockholders Equity Note [Line Items]
Balance at Beginning of Period	$ 1,040,531
Net Earnings	45,344	$ 37,762
Balance at End of Period	1,056,443
Common Stock [Member]
Stockholders Equity Note [Line Items]
Balance at Beginning of Period	485
Purchase and Retirement of Common Stock	(6)
Issuance of Restricted Stock	1
Stock Option Exercises	4
Balance at End of Period	484
Capital in Excess of Par Value [Member]
Stockholders Equity Note [Line Items]
Balance at Beginning of Period	168,969
Stock Compensation Expense	2,593
Shares Redeemed to Settle Employee Taxes	(2,284)
Purchase and Retirement of Common Stock	(39,129)
Tax Benefit of Stock Option Exercises	3,299
Stock Option Exercises	10,628
Balance at End of Period	144,076
Retained Earnings [Member]
Stockholders Equity Note [Line Items]
Balance at Beginning of Period	882,486
Dividends Declared to Stockholders	(4,850)
Net Earnings	45,344
Balance at End of Period	922,980
Accumulated Other Comprehensive Loss [Member]
Stockholders Equity Note [Line Items]
Balance at Beginning of Period	(11,409)
Change in Funded Status of Pension Plan, net of tax	312
Balance at End of Period	$ (11,097)

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - $ / shares	Jul. 29, 2016	Jun. 30, 2016
Repurchase of shares		525,000
Shares repurchased average price		$ 74.55
Subsequent Event [Member]
Repurchase of shares	182,500
Shares repurchased average price	$ 77.48
Stock repurchase remaining number of shares authorized to be repurchased	4,898,500

Schedule of Inventories (Detail

Schedule of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016
Inventory [Line Items]
Inventories	$ 240,999	$ 243,595
Raw Materials and Material-in-Progress [Member]
Inventory [Line Items]
Inventories	120,679	119,060
Finished Cement [Member]
Inventory [Line Items]
Inventories	21,785	21,834
Gypsum Wallboard [Member]
Inventory [Line Items]
Inventories	6,422	5,839
Frac Sand [Member]
Inventory [Line Items]
Inventories	4,831	5,501
Aggregates [Member]
Inventory [Line Items]
Inventories	9,493	10,660
Paperboard [Member]
Inventory [Line Items]
Inventories	5,986	7,575
Repair Parts and Supplies [Member]
Inventory [Line Items]
Inventories	66,929	68,155
Fuel and Coal [Member]
Inventory [Line Items]
Inventories	$ 4,874	$ 4,971

Schedule of Accrued Expenses (D

Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016
Accounts Payable And Accrued Liabilities Current [Abstract]
Payroll and Incentive Compensation	$ 13,800	$ 19,956
Benefits	11,054	10,663
Interest	1,791	3,373
Property Taxes	5,079	4,186
Power and Fuel	1,248	1,390
Sales and Use Tax	801	1,486
Legal	2,254	549
Other	4,482	4,372
Accrued expenses, total	$ 40,509	$ 45,975

Share-Based Employee Compensa41

Share-Based Employee Compensation - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	May 31, 2016	Jun. 30, 2016	Jun. 30, 2015	Aug. 07, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant		4,341,783		3,000,000
Stock option expense		$ 1.2	$ 2
Aggregate intrinsic value for outstanding options		29.6
Aggregate intrinsic value of exercisable options		29.3
Total intrinsic value of options exercised		13.2
Restricted stock or unit expense		$ 1.4	$ 2
Stock Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant				1,500,000
Performance Vesting Stock Options [Member] | Long Term Compensation Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant	91,074
Reduced percentage of shares earned in stock options plan	66.70%
Share-based compensation vesting period	4 years
Share-based compensation award expiration term	10 years
Stock based compensation plan, description		The performance criterion for the Fiscal 2017 Employee Performance Stock Option Grant is based upon the achievement of certain levels of return on equity (as defined in the option agreements), ranging from 11.0% to 18.0%, for the fiscal year ending March 31, 2017. All stock options will be earned if the return on equity is 18.0% or greater, and the percentage of shares earned will be reduced proportionately to approximately 66.7% if the return on equity is 11.0%. If the Company does not achieve a return on equity of at least 11.0%, all stock options granted will be forfeited.
Performance Vesting Stock Options [Member] | Long Term Compensation Plan [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of average return on invested capital	11.00%
Share-based compensation expiration date		Mar. 31, 2018
Performance Vesting Stock Options [Member] | Long Term Compensation Plan [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of average return on invested capital	18.00%
Share-based compensation expiration date		Mar. 31, 2020
Time Vesting Stock Options [Member] | Long Term Compensation Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant	75,896
Share-based compensation vesting period	4 years
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost, stock options		$ 10.3
Weighted-average period of recognition of unrecognized compensation cost		2 years 9 months 18 days
Performance Vesting Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant	63,029
Share-based compensation vesting period	4 years
Stock based compensation plan, description		The performance criterion for the Fiscal 2017 Employee Restricted Stock Performance Award is based upon the achievement of certain levels of return on equity (as defined in the award agreement), ranging from 11.0% to 18.0%, for the fiscal year ending March 31, 2017. All restricted shares will be earned if the return on equity is 18.0% or greater, and the percentage of shares earned will be reduced proportionately to approximately 66.7% if the return on equity is 11.0%. If the Company does not achieve a return on equity of at least 11.0%, all awards will be forfeited.
Reduced percentage of restricted shares	66.70%
Performance Vesting Restricted Stock [Member] | Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of average return on invested capital	11.00%
Share-based compensation vesting date		Mar. 31, 2018
Performance Vesting Restricted Stock [Member] | Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of average return on invested capital	18.00%
Share-based compensation vesting date		Mar. 31, 2020
Time Vesting Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant	52,527
Share-based compensation vesting period	4 years
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average period of recognition of unrecognized compensation cost		2 years 2 months 12 days
Unrecognized compensation cost		$ 20.4

Weighted-Average Assumptions Us

Weighted-Average Assumptions Used to Value Option Awards (Detail) - Long Term Compensation Plan [Member] - Stock Options [Member]	3 Months Ended
	Jun. 30, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend Yield	1.30%
Expected Volatility	36.50%
Risk Free Interest Rate	1.40%
Expected Life	6 years

Stock Option Activity (Detail)

Stock Option Activity (Detail)	3 Months Ended
	Jun. 30, 2016$ / sharesshares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Shares, Outstanding Options at Beginning of Period | shares	1,817,763
Number of Shares, Granted | shares	174,470
Number of Shares, Exercised | shares	(330,341)
Number of Shares, Cancelled | shares	(16,840)
Number of Shares, Outstanding Options at End of Period | shares	1,645,052
Number of Shares, Options Exercisable at End of Period | shares	1,060,879
Weighted-Average Exercise Price, Weighted-Average Fair Value of Options Granted during the Period	$ 24.42
Weighted-Average Exercise Price, Outstanding Options at Beginning of Period	53.03
Weighted-Average Exercise Price, Granted	75.78
Weighted-Average Exercise Price, Exercised	33.70
Weighted-Average Exercise Price, Cancelled	67.92
Weighted-Average Exercise Price, Outstanding Options at End of Period	59.15
Weighted-Average Exercise Price, Options Exercisable at End of Period	$ 49.56

Stock Options Outstanding (Deta

Stock Options Outstanding (Detail)	3 Months Ended
	Jun. 30, 2016$ / sharesshares
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Outstanding Options, Number of Shares Outstanding | shares	1,645,052
Outstanding Options, Weighted-Average Remaining Contractual Life	6 years 11 months 5 days
Outstanding Options, Weighted-Average Exercise Price	$ 59.15
Exercisable Options, Number of Shares Outstanding | shares	1,060,879
Exercisable Options, Weighted-Average Exercise Price	$ 49.56
$23.17 - $ 30.74 [Member]
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Range	23.17
Range of Exercise Prices, Upper Range	$ 30.74
Outstanding Options, Number of Shares Outstanding | shares	349,570
Outstanding Options, Weighted-Average Remaining Contractual Life	3 years 6 months 29 days
Outstanding Options, Weighted-Average Exercise Price	$ 25.90
Exercisable Options, Number of Shares Outstanding | shares	348,570
Exercisable Options, Weighted-Average Exercise Price	$ 25.89
$33.43 - $ 37.95 [Member]
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Range	33.43
Range of Exercise Prices, Upper Range	$ 37.95
Outstanding Options, Number of Shares Outstanding | shares	281,973
Outstanding Options, Weighted-Average Remaining Contractual Life	5 years 9 months 4 days
Outstanding Options, Weighted-Average Exercise Price	$ 34.05
Exercisable Options, Number of Shares Outstanding | shares	272,973
Exercisable Options, Weighted-Average Exercise Price	$ 33.97
$53.22 - $ 77.67 [Member]
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Range	53.22
Range of Exercise Prices, Upper Range	$ 77.67
Outstanding Options, Number of Shares Outstanding | shares	455,765
Outstanding Options, Weighted-Average Remaining Contractual Life	8 years 3 months 15 days
Outstanding Options, Weighted-Average Exercise Price	$ 69.93
Exercisable Options, Number of Shares Outstanding | shares	171,545
Exercisable Options, Weighted-Average Exercise Price	$ 67.07
$79.73 - $ 93.56 [Member]
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Range	79.73
Range of Exercise Prices, Upper Range	$ 93.56
Outstanding Options, Number of Shares Outstanding | shares	557,744
Outstanding Options, Weighted-Average Remaining Contractual Life	8 years 6 months
Outstanding Options, Weighted-Average Exercise Price	$ 83.88
Exercisable Options, Number of Shares Outstanding | shares	267,791
Exercisable Options, Weighted-Average Exercise Price	$ 85.04

Calculation of Basic and Dilute

Calculation of Basic and Diluted Common Shares Outstanding (Detail) - shares	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Earnings Per Share [Abstract]
Weighted-Average Shares of Common Stock Outstanding	48,014,195	49,767,424
Assumed Exercise of Outstanding Dilutive Options	1,039,189	1,328,364
Less: Shares Repurchased from Assumed Proceeds of Assumed Exercised Options	(715,139)	(876,472)
Restricted Shares	183,962	231,592
Weighted-Average Common and Common Equivalent Shares Outstanding	48,522,207	50,450,908
Shares Excluded Due to Anti-dilution Effects	692,219	457,687

Components of Net Periodic Cost

Components of Net Periodic Cost (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Compensation And Retirement Disclosure [Abstract]
Service Cost – Benefits Earned During the Period	$ 222	$ 231
Interest Cost of Benefit Obligations	399	381
Expected Return on Plan Assets	(416)	(430)
Recognized Net Actuarial Loss	425	433
Amortization of Prior-Service Cost	75	75
Net Periodic Pension Cost	$ 705	$ 690

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Effective tax rate	33.00%	33.00%

Long-Term Debt (Detail)

Long-Term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016
Debt Instrument [Line Items]
Credit Facility	$ 498,714	$ 507,714
Total Debt	498,714	507,714
Less: Current Portion of Long-term Debt	(8,000)	(8,000)
Total Debt	490,714	499,714
Revolving Credit Facility
Debt Instrument [Line Items]
Credit Facility	373,000	382,000
Total Debt	373,000	382,000
Senior Notes
Debt Instrument [Line Items]
Credit Facility	125,714	125,714
Total Debt	$ 125,714	$ 125,714

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail)	Oct. 30, 2014	Jun. 30, 2016USD ($)	Oct. 02, 2007USD ($)Loan	Nov. 15, 2005USD ($)Loan
Debt Instrument [Line Items]
Interest coverage ratio	250.00%
Unused line of credit commitment fee based on leverage ratio	0.10%
Borrowings outstanding under Credit Facility		$ 373,000,000
Bank Credit Facility, borrowings available		116,300,000
Letter of Credit Facility		50,000,000
Letters of credit outstanding, amount		10,700,000
Maximum [Member]
Debt Instrument [Line Items]
Consolidated funded indebtedness ratio	350.00%
Unused line of credit commitment fee based on leverage ratio	0.35%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Variable margin	1.00%
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument [Line Items]
Variable margin	2.25%
Federal Funds Effective Swap Rate | Minimum [Member]
Debt Instrument [Line Items]
Variable margin	0.00%
Federal Funds Effective Swap Rate | Maximum [Member]
Debt Instrument [Line Items]
Variable margin	1.25%
Revolving Credit Facility
Debt Instrument [Line Items]
Credit Facility, principal balance		$ 500,000,000
Credit Facility, maturity date		Oct. 30, 2019
Credit Facility, interest rate description		At the option of the Company, outstanding principal amounts on the Credit Facility bear interest at a variable rate equal to (i) the London Interbank Offered Rate (“LIBOR”) for the selected period, plus an applicable rate (ranging from 100 to 225 basis points), which is to be established quarterly based upon the Company’s ratio of consolidated EBITDA, defined as earnings before interest, taxes, depreciation and amortization, to the Company’s consolidated indebtedness (the “Leverage Ratio”), or (ii) an alternative base rate which is the higher of (a) the prime rate or (b) the federal funds rate plus 1⁄2% per annum, plus an applicable rate (ranging from 0 to 125 basis points). Interest payments are payable, in the case of loans bearing interest at a rate based on the federal funds rate, quarterly, or in the case of loans bearing interest at a rate based on LIBOR, at the end of the applicable interest period. The Company is also required to pay a commitment fee on unused available borrowings under the Credit Facility ranging from 10 to 35 basis points depending upon the Leverage Ratio.
Line of Credit | Federal Funds Effective Swap Rate | Maximum [Member]
Debt Instrument [Line Items]
Variable margin	0.50%
Letter of Credit [Member]
Debt Instrument [Line Items]
Bank Credit Facility, one-time fee		0.125%
Swingline Loan [Member] | Revolving Credit Facility
Debt Instrument [Line Items]
Credit Facility, principal balance		$ 25,000,000
2005 Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Senior Notes, sale				$ 200,000,000
Number of tranches | Loan				3
2005 Note Purchase Agreement [Member] | Series 2005A Tranche C [Member]
Debt Instrument [Line Items]
Senior Notes, payment terms		Interest for this tranche of Series 2005A Senior Notes is payable semi-annually on May 15 and the November 15 of each year until all principal is paid.
2007 Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Interest coverage ratio		250.00%
Senior Notes, sale			$ 200,000,000
Number of tranches | Loan			4
Senior Notes, payment terms		Interest for each tranche of Notes is payable semi-annually on April 2 and October 2 of each year until all principal is paid for the respective tranche.
Purchase agreement additional requirements		The 2007 Note Purchase Agreement requires the Company to ensure that at all times either (i) Consolidated Total Assets equal at least 80% of the consolidated total assets of the Company and its Subsidiaries, determined in accordance with GAAP, or (ii) consolidated total revenues of the Company and its Restricted Subsidiaries for the period of four consecutive fiscal quarters most recently ended equals at least 80% of the consolidated total revenues of the Company and its Subsidiaries during such period.
2007 Note Purchase Agreement [Member] | Minimum [Member]
Debt Instrument [Line Items]
Percentage of consolidated assets require to maintain		80.00%
Percentage of consolidated revenues require to maintain		80.00%
Private Placement Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Senior Notes, permitted minimum aggregate principal amount prepayment without penalty		10.00%
Percentage of face value to be paid if notes are prepaid		100.00%
Senior Notes, calculation of make-whole amount, description		Discounting the remaining scheduled payments of interest and principal of the Private Placement Senior Notes being prepaid at a discount rate equal to the sum of 50 basis
Discount on Senior Notes principal and interest		0.50%
Private Placement Note Purchase Agreement [Member] | Maximum [Member]
Debt Instrument [Line Items]
Consolidated funded indebtedness ratio		350.00%

Amount Outstanding of Tranches

Amount Outstanding of Tranches - Two Thousand Five Note Purchase Agreement (Detail) - 2005 Note Purchase Agreement [Member] - Series 2005A Tranche C [Member] $ in Millions	3 Months Ended
	Jun. 30, 2016USD ($)
Debt Instrument [Line Items]
Principal	$ 57.2
Maturity Date	Nov. 15, 2017
Interest Rate	5.48%

Amount Outstanding of Tranche51

Amount Outstanding of Tranches - Two Thousand Seven Note Purchase Agreement (Detail) - 2007 Note Purchase Agreement [Member] $ in Millions	3 Months Ended
	Jun. 30, 2016USD ($)
Series 2007A Tranche B [Member]
Debt Instrument [Line Items]
Principal	$ 8
Maturity Date	Oct. 2, 2016
Interest Rate	6.27%
Series 2007A Tranche C [Member]
Debt Instrument [Line Items]
Principal	$ 24
Maturity Date	Oct. 2, 2017
Interest Rate	6.36%
Series 2007A Tranche D [Member]
Debt Instrument [Line Items]
Principal	$ 36.5
Maturity Date	Oct. 2, 2019
Interest Rate	6.48%

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended
	Jun. 30, 2016LocationFacilityTerminalPlantSegmentJointVentures
Segment Reporting Information [Line Items]
Number of operating business segments | Segment	5
Cement plant locations | Location	6
Slag grinding facility | Facility	1
Cement distribution terminals | Terminal	16
Gypsum wallboard plants | Plant	5
Readymix concrete batch plant | Plant	17
Aggregates processing plant | Plant	4
Number of frac sand processing facilities | Facility	2
Number of frac sand drying facilities | Facility	3
Number of frac sand trans-load locations | Location	6
Proportionate consolidation of share of Joint Venture's revenues and operating earnings	50.00%
Cement [Member]
Segment Reporting Information [Line Items]
Number of Joint Venture | JointVentures	1

Financial Information Related t

Financial Information Related to Operations by Segment (Detail) $ in Thousands	3 Months Ended
	Jun. 30, 2016USD ($)T	Jun. 30, 2015USD ($)T	Mar. 31, 2016USD ($)
Segment Reporting Information [Line Items]
Net Revenues	$ 297,504	$ 284,963
Net Revenues, including Joint Venture	322,392	311,974
Less: Joint Venture	(24,888)	(27,011)
Operating Earnings	81,010	69,362
Corporate General and Administrative	(9,833)	(8,991)
Earnings Before Interest and Income Taxes	71,177	60,371
Interest Expense, Net	(3,901)	(4,486)
Earnings Before Income Taxes	67,276	55,885
Capital Expenditures	8,978	27,122
Depreciation, Depletion and Amortization	22,863	24,264
Identifiable Assets	1,889,085		$ 1,883,635
Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Revenues	340,716	329,903
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net Revenues	(18,324)	(17,929)
Other, net [Member]
Segment Reporting Information [Line Items]
Operating Earnings	1,075	435
Depreciation, Depletion and Amortization	457	495
Cement [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Revenues	$ 144,792	$ 128,176
Cement Sales Volume | T	1,251	1,203
Operating Earnings	$ 31,600	$ 25,713
Capital Expenditures	5,245	8,150
Depreciation, Depletion and Amortization	8,611	$ 7,866
Identifiable Assets	$ 845,018		819,994
Cement [Member] | Operating Segments [Member] | Wholly-Owned [Member]
Segment Reporting Information [Line Items]
Cement Sales Volume | T	1,033	991
Operating Earnings	$ 23,620	$ 17,883
Cement [Member] | Operating Segments [Member] | Joint Venture [Member]
Segment Reporting Information [Line Items]
Cement Sales Volume | T	218	212
Operating Earnings	$ 7,980	$ 7,830
Cement [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net Revenues	(3,535)	(3,126)
Gypsum Wallboard [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Revenues	113,262	115,052
Operating Earnings	39,336	40,894
Capital Expenditures	1,328	1,497
Depreciation, Depletion and Amortization	4,762	4,786
Identifiable Assets	380,640		392,523
Paperboard [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Revenues	42,815	35,318
Operating Earnings	11,227	6,030
Capital Expenditures	1,304	844
Depreciation, Depletion and Amortization	2,100	2,053
Identifiable Assets	128,448		127,371
Paperboard [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net Revenues	(14,506)	(14,551)
Oil and Gas Proppants [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Revenues	5,096	22,825
Operating Earnings	(5,912)	(5,636)
Capital Expenditures	57	15,967
Depreciation, Depletion and Amortization	5,184	7,559
Identifiable Assets	401,285		409,497
Concrete and Aggregates [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Net Revenues	34,751	28,532
Operating Earnings	3,684	1,926
Capital Expenditures	1,044	664
Depreciation, Depletion and Amortization	1,749	1,505
Identifiable Assets	111,195		106,634
Concrete and Aggregates [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net Revenues	(283)	$ (252)
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Identifiable Assets	$ 22,499		$ 27,616

Segment Breakdown of Goodwill (

Segment Breakdown of Goodwill (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016
Segment Reporting Information [Line Items]
Goodwill	$ 133,885	$ 133,885
Cement [Member]
Segment Reporting Information [Line Items]
Goodwill	9,729	9,729
Gypsum Wallboard [Member]
Segment Reporting Information [Line Items]
Goodwill	116,618	116,618
Paperboard [Member]
Segment Reporting Information [Line Items]
Goodwill	$ 7,538	$ 7,538

Summarized Financial Informatio

Summarized Financial Information for Joint Venture Unconsolidated (Detail) - Joint Venture [Member] - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Mar. 31, 2016
Related Party Transaction [Line Items]
Revenues	$ 49,776	$ 54,022
Gross Margin	17,337	17,012
Earnings Before Income Taxes	16,138	$ 15,660
Current Assets	69,965		$ 70,491
Non-Current Assets	41,032		41,464
Current Liabilities	$ 16,399		$ 15,964

Interest Expense, Net (Detail)

Interest Expense, Net (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Interest Income (Expense), Net [Abstract]
Interest (Income)		$ (1)
Interest Expense	$ 3,748	4,296
Other Expenses	153	191
Interest Expense, net	$ 3,901	$ 4,486

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	Jun. 30, 2016USD ($)
Commitments And Contingencies Disclosure [Abstract]
Letters of credit outstanding, amount	$ 10,700,000
Outstanding guarantees	0
Contingently liable for performance, current	$ 14,400,000

Fair Value of Senior Notes (Det

Fair Value of Senior Notes (Detail) $ in Thousands	Jun. 30, 2016USD ($)
Series 2005A Tranche C [Member]
Fair Value Of Financial Instruments [Line Items]
Fair Value of Senior Notes	$ 59,197
Series 2007A Tranche B [Member]
Fair Value Of Financial Instruments [Line Items]
Fair Value of Senior Notes	8,074
Series 2007A Tranche C [Member]
Fair Value Of Financial Instruments [Line Items]
Fair Value of Senior Notes	25,025
Series 2007A Tranche D [Member]
Fair Value Of Financial Instruments [Line Items]
Fair Value of Senior Notes	$ 40,108

Financial Statements for Guar59

Financial Statements for Guarantors of the Senior Notes - Additional Information (Detail) $ in Millions	Jul. 25, 2016USD ($)
Subsequent Event [Member] | Senior Unsecured Notes Due In 2026 [Member]
Minority Interest [Line Items]
Principal amount of senior unsecured notes	$ 300

Condensed Consolidating Stateme

Condensed Consolidating Statement of Earnings and Comprehensive Earnings (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Revenues	$ 297,504	$ 284,963
Cost of Goods Sold	225,549	223,866
Gross Profit	71,955	61,097
Equity in Earnings of Unconsolidated Joint Venture	7,980	7,830
Corporate General and Administrative Expense	(9,833)	(8,991)
Other Income (Loss)	1,075	435
Interest Expense, Net	(3,901)	(4,486)
Earnings Before Income Taxes	67,276	55,885
Income Tax Expense	(21,932)	(18,123)
Net Earnings	45,344	37,762
Net Actuarial Change in Benefit Plans, net of tax	312	131
Comprehensive Earnings	45,656	37,893
Eliminations [Member]
Equity in Earnings of Unconsolidated Joint Venture	(7,980)	(7,830)
Equity in Earnings of Subsidiaries	(49,703)	(41,446)
Earnings Before Income Taxes	(57,683)	(49,276)
Net Earnings	(57,683)	(49,276)
Net Actuarial Change in Benefit Plans, net of tax	(312)	(131)
Comprehensive Earnings	(57,995)	(49,407)
Parent [Member]
Equity in Earnings of Unconsolidated Joint Venture	7,980	7,830
Equity in Earnings of Subsidiaries	49,703	41,446
Corporate General and Administrative Expense	(8,231)	(7,691)
Other Income (Loss)	(77)	(133)
Interest Expense, Net	(10,011)	(9,216)
Earnings Before Income Taxes	39,364	32,236
Income Tax Expense	5,980	5,526
Net Earnings	45,344	37,762
Net Actuarial Change in Benefit Plans, net of tax	312	131
Comprehensive Earnings	45,656	37,893
Guarantor Subsidiaries [Member]
Revenues	297,504	284,963
Cost of Goods Sold	225,549	223,866
Gross Profit	71,955	61,097
Equity in Earnings of Unconsolidated Joint Venture	7,980	7,830
Corporate General and Administrative Expense	(1,602)	(1,300)
Other Income (Loss)	1,152	568
Interest Expense, Net	6,110	4,730
Earnings Before Income Taxes	85,595	72,925
Income Tax Expense	(27,912)	(23,649)
Net Earnings	57,683	49,276
Net Actuarial Change in Benefit Plans, net of tax	312	131
Comprehensive Earnings	$ 57,995	$ 49,407

Condensed Consolidating Balance

Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Mar. 31, 2015
Current Assets -
Cash and Cash Equivalents	$ 9,180	$ 5,391	$ 7,551	$ 7,514
Accounts and Notes Receivable	142,298	120,221
Inventories	240,999	243,595
Income Tax Receivable		5,623
Prepaid and Other Current Assets	8,020	5,173
Total Current Assets	400,497	380,003
Property, Plant and Equipment -	2,083,592	2,072,776
Less: Accumulated Depreciation	(837,242)	(817,465)
Property, Plant and Equipment, net	1,246,350	1,255,311
Notes Receivable	2,652	2,672
Investment in Joint Venture	48,700	49,465
Goodwill and Intangible Assets, net	163,298	165,827
Other Assets	27,588	30,357
Total Assets	1,889,085	1,883,635
Current Liabilities -
Accounts Payable	61,322	66,614
Accrued Liabilities	40,509	45,975
Income Taxes Payable	9,919
Current Portion of Long-term Debt	8,000	8,000
Total Current Liabilities	119,750	120,589
Long-term Debt	490,714	499,714
Other Long-term Liabilities	58,642	61,122
Deferred Income Taxes	163,536	161,679
Total Liabilities	832,642	843,104
Total Stockholders’ Equity	1,056,443	1,040,531
Liabilities and Stockholders' Equity, Total	1,889,085	1,883,635
Eliminations [Member]
Current Assets -
Income Tax Receivable	(17,349)	(1,108)
Total Current Assets	(17,349)	(1,108)
Deferred Income Taxes	(3,974)	(3,375)
Investments in Subsidiaries and Receivables from Affiliates	(6,902,288)	(6,615,286)
Total Assets	(6,923,611)	(6,619,769)
Current Liabilities -
Income Taxes Payable	(17,349)	(1,108)
Total Current Liabilities	(17,349)	(1,108)
Payables to Affiliates	(4,816,023)	(4,572,113)
Deferred Income Taxes	(3,974)	(3,375)
Total Liabilities	(4,837,346)	(4,576,596)
Total Stockholders’ Equity	(2,086,265)	(2,043,173)
Liabilities and Stockholders' Equity, Total	(6,923,611)	(6,619,769)
Parent [Member]
Current Assets -
Cash and Cash Equivalents	4,208	3,507	4,482	3,644
Accounts and Notes Receivable	1,135	324
Income Tax Receivable	17,349
Prepaid and Other Current Assets	1,485	1,365
Total Current Assets	24,177	5,196
Property, Plant and Equipment -	2,613	2,612
Less: Accumulated Depreciation	(842)	(814)
Property, Plant and Equipment, net	1,771	1,798
Deferred Income Taxes	3,974	3,375
Investment in Joint Venture	37	33
Investments in Subsidiaries and Receivables from Affiliates	4,219,567	4,085,806
Other Assets	5,473	5,557
Total Assets	4,254,999	4,101,765
Current Liabilities -
Accounts Payable	6,320	6,968
Accrued Liabilities	10,563	15,708
Income Taxes Payable		1,108
Current Portion of Long-term Debt	8,000	8,000
Total Current Liabilities	24,883	31,784
Long-term Debt	490,714	499,714
Other Long-term Liabilities	239	256
Payables to Affiliates	2,682,720	2,529,480
Total Liabilities	3,198,556	3,061,234
Total Stockholders’ Equity	1,056,443	1,040,531
Liabilities and Stockholders' Equity, Total	4,254,999	4,101,765
Guarantor Subsidiaries [Member]
Current Assets -
Cash and Cash Equivalents	4,972	1,884	$ 2,709	$ 3,870
Accounts and Notes Receivable	141,163	119,897
Inventories	240,999	243,595
Income Tax Receivable		6,731
Prepaid and Other Current Assets	6,535	3,808
Total Current Assets	393,669	375,915
Property, Plant and Equipment -	2,080,979	2,070,164
Less: Accumulated Depreciation	(836,400)	(816,651)
Property, Plant and Equipment, net	1,244,579	1,253,513
Notes Receivable	2,652	2,672
Investment in Joint Venture	48,663	49,432
Investments in Subsidiaries and Receivables from Affiliates	2,682,721	2,529,480
Goodwill and Intangible Assets, net	163,298	165,827
Other Assets	22,115	24,800
Total Assets	4,557,697	4,401,639
Current Liabilities -
Accounts Payable	55,002	59,646
Accrued Liabilities	29,946	30,267
Income Taxes Payable	27,268
Total Current Liabilities	112,216	89,913
Other Long-term Liabilities	58,403	60,866
Payables to Affiliates	2,133,303	2,042,633
Deferred Income Taxes	167,510	165,054
Total Liabilities	2,471,432	2,358,466
Total Stockholders’ Equity	2,086,265	2,043,173
Liabilities and Stockholders' Equity, Total	$ 4,557,697	$ 4,401,639

Condensed Consolidated Statemen

Condensed Consolidated Statement of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	$ 54,083	$ 20,615
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant and Equipment	(8,978)	(27,122)
Net Cash Used in Investing Activities	(8,978)	(27,122)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase in Credit Facility	(9,000)	11,000
Dividends Paid to Stockholders	(4,828)	(5,025)
Purchase and Retirement of Common Stock	(39,135)
Proceeds from Stock Option Exercises	10,632	950
Shares Redeemed to Settle Employee Taxes on Stock Compensation	(2,284)	(1,523)
Excess Tax Benefits from Share Based Payment Arrangements	3,299	1,142
Net Cash Provided by (Used in) Financing Activities	(41,316)	6,544
NET INCREASE IN CASH AND CASH EQUIVALENTS	3,789	37
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	5,391	7,514
CASH AND CASH EQUIVALENTS AT END OF PERIOD	9,180	7,551
Parent [Member]
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	(35,457)	(35,394)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase in Credit Facility	(9,000)	11,000
Dividends Paid to Stockholders	(4,828)	(5,025)
Purchase and Retirement of Common Stock	(39,135)
Proceeds from Stock Option Exercises	10,632	950
Shares Redeemed to Settle Employee Taxes on Stock Compensation	(2,284)	(1,523)
Excess Tax Benefits from Share Based Payment Arrangements	3,299	1,142
Intra-entity Activity, net	77,474	30,048
Net Cash Provided by (Used in) Financing Activities	36,158	36,592
NET INCREASE IN CASH AND CASH EQUIVALENTS	701	1,198
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	3,507	3,644
CASH AND CASH EQUIVALENTS AT END OF PERIOD	4,208	4,482
Guarantor Subsidiaries [Member]
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	89,540	56,009
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant and Equipment	(8,978)	(27,122)
Net Cash Used in Investing Activities	(8,978)	(27,122)
CASH FLOWS FROM FINANCING ACTIVITIES
Intra-entity Activity, net	(77,474)	(30,048)
Net Cash Provided by (Used in) Financing Activities	(77,474)	(30,048)
NET INCREASE IN CASH AND CASH EQUIVALENTS	3,088	(1,161)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	1,884	3,870
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 4,972	$ 2,709