Eagle Materials (EXP) 10-Q 25 Oct 17 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2017	Oct. 23, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
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		48,625,085

Consolidated Statements of Earn

Consolidated Statements of Earnings (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Revenues	$ 376,315	$ 332,658	$ 742,436	$ 630,162
Cost of Goods Sold	279,561	241,448	559,623	466,997
Gross Profit	96,754	91,210	182,813	163,165
Equity in Earnings of Unconsolidated Joint Venture	11,955	12,147	21,831	20,127
Corporate General and Administrative	(9,821)	(8,832)	(19,500)	(18,665)
Other Income	887	504	1,644	1,579
Interest Expense, Net	(7,456)	(5,656)	(14,939)	(9,557)
Earnings Before Income Taxes	92,319	89,373	171,849	156,649
Income Tax Expense	(28,957)	(29,136)	(53,605)	(51,068)
Net Earnings	$ 63,362	$ 60,237	$ 118,244	$ 105,581
EARNINGS PER SHARE:
Basic	$ 1.32	$ 1.26	$ 2.46	$ 2.20
Diluted	$ 1.31	$ 1.25	$ 2.43	$ 2.18
AVERAGE SHARES OUTSTANDING:
Basic	48,053,733	47,809,476	48,087,625	47,911,276
Diluted	48,504,767	48,229,485	48,579,984	48,375,116
CASH DIVIDENDS PER SHARE:	$ 0.10	$ 0.10	$ 0.20	$ 0.20

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Statement Of Income And Comprehensive Income [Abstract]
Net Earnings	$ 63,362	$ 60,237	$ 118,244	$ 105,581
Change in Funded Status of Defined Benefit Plans:
Amortization of Net Actuarial Loss	314	500	628	1,000
Tax Expense	(117)	(188)	(234)	(376)
Comprehensive Earnings	$ 63,559	$ 60,549	$ 118,638	$ 106,205

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Current Assets -
Cash and Cash Equivalents	$ 31,056	$ 6,561
Accounts and Notes Receivable	169,125	136,313
Inventories	239,189	252,846
Prepaid and Other Assets	7,440	4,904
Total Current Assets	446,810	400,624
Property, Plant and Equipment -	2,515,337	2,439,438
Less: Accumulated Depreciation	(946,934)	(892,601)
Property, Plant and Equipment, net	1,568,403	1,546,837
Notes Receivable	476	815
Investment in Joint Venture	52,960	48,620
Goodwill and Intangible Assets	240,947	235,505
Other Assets	11,445	14,723
Total Assets	2,321,041	2,247,124
Current Liabilities -
Accounts Payable	79,194	92,193
Accrued Liabilities	59,788	55,379
Income Tax Payable	1,211	733
Current Portion of Long-term Debt	81,214	81,214
Total Current Liabilities	221,407	229,519
Long-term Debt	575,588	605,253
Other Long-term Liabilities	44,038	42,878
Deferred Income Taxes	167,335	166,024
Total Liabilities	1,008,368	1,043,674
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 48,624,085 and 48,453,268 Shares, respectively	486	485
Capital in Excess of Par Value	150,029	149,014
Accumulated Other Comprehensive Losses	(7,002)	(7,396)
Retained Earnings	1,169,160	1,061,347
Total Stockholders’ Equity	1,312,673	1,203,450
Liabilities and Stockholders' Equity, Total	$ 2,321,041	$ 2,247,124

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2017	Mar. 31, 2017
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	48,624,085	48,453,268
Common Stock, Outstanding	48,624,085	48,453,268

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net Earnings	$ 118,244	$ 105,581
Adjustments to Reconcile Net Earnings to Net Cash Provided by Operating Activities -
Depreciation, Depletion and Amortization	59,253	45,249
Inventory Adjustment to Net Realizable Value		8,492
Deferred Income Tax Provision	1,077	2,125
Stock Compensation Expense	7,235	6,158
Excess Tax Benefits from Share Based Payment Arrangements		(5,494)
Equity in Earnings of Unconsolidated Joint Venture	(21,831)	(20,127)
Distributions from Joint Venture	17,500	21,750
Changes in Operating Assets and Liabilities:
Accounts and Notes Receivable	(30,361)	(33,506)
Inventories	13,856	17,521
Accounts Payable and Accrued Liabilities	(14,905)	3,337
Other Assets	2,202	(1,005)
Income Taxes Payable	478	10,071
Net Cash Provided by Operating Activities	152,748	160,152
CASH FLOWS FROM INVESTING ACTIVITIES
Property, Plant and Equipment Additions	(44,851)	(18,231)
Acquisition Spending	(36,761)
Net Cash Used in Investing Activities	(81,612)	(18,231)
CASH FLOWS FROM FINANCING ACTIVITIES
Decrease in Credit Facility	(30,000)	(382,000)
Issuance of Long-term Debt		350,000
Payment of Debt Issuance Costs		(6,637)
Dividends Paid to Stockholders	(9,709)	(9,677)
Shares Redeemed to Settle Employee Taxes on Stock Compensation	(2,455)	(2,965)
Purchase and Retirement of Common Stock	(24,903)	(60,013)
Proceeds from Stock Option Exercises	20,426	12,992
Excess Tax Benefits from Share Based Payment Arrangements		5,494
Net Cash Used in Financing Activities	(46,641)	(92,806)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	24,495	49,115
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	6,561	5,391
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 31,056	$ 54,506

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
BASIS OF PRESENTATION	(A) BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements as of and for the three and six-month periods ended September 30, 2017 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 24, 2017. 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 March 2016, the Financial Accounting Standards Board (“FASB”), issued Accounting Standards Update (“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 Company adopted ASU 2016-09 on April 1, 2017. The new standard provides for changes to accounting for stock compensation including 1) excess tax benefits and tax deficiencies related to share based payment awards will be recognized as income tax benefit or expense in the reporting period in which they occur; 2) excess tax benefits will be classified as an operating activity in the statement of cash flow; 3) the option to elect to estimate forfeitures or account for them when they occur; and 4) an increase in the tax withholding requirements threshold to qualify for equity classification. The primary impact of adoption was the recognition of excess tax benefits for our stock awards in the provision for income taxes rather than additional paid-in capital. As provided by the new standard, the Company changed its method of accounting for forfeitures, and will now recognize forfeitures as they occur, which resulted in an approximately $0.7 million reduction to retained earnings. Additional amendments to the accounting for income taxes and minimum statutory withholding tax requirements had no impact to retained earnings. Adoption of the new standard resulted in the recognition of excess tax benefits in our provision for income taxes rather than paid-in capital of $2.7 million for the six months ended September 30, 2017. The presentation of excess tax benefits on stock-based compensation was adopted prospectively within the unaudited Condensed Consolidated Statements of Cash Flows. The presentation requirements for cash flows related to employee taxes paid for withheld shares had no impact on any of the periods presented on the unaudited Condensed Consolidated Statements of Cash Flows as the Company has historically presented them as a financing activity. In May 2014, the FASB issued 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 2017, the FASB issued ASU 2017-07, “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost”, which revises the accounting for periodic pension and postretirement expense. This ASU requires net periodic benefit cost, with the exception of service cost, to be presented retrospectively as nonoperating expense. Service cost will remain a component of cost of goods sold and represent the only cost of pension and postretirement expense eligible for capitalization. We will adopt the standard on April 1, 2018 using the retrospective method for presentation of service cost and other components in the income statement. We will prospectively adopt the requirement to limit the capitalization of benefit cost to the service cost component. The impact of adopting this standard will be a reduction to cost of goods sold and an increase in other expense. Had we adopted this standard on April 1, 2017, our gross profit for the six months ended September 30, 2017 would have increased by approximately $0.4 million, and other income would have decreased by $0.4 million. 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.

ACQUISITION

ACQUISITION	6 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
ACQUISITION	(B) ACQUISITION Fairborn Acquisition On February 10, 2017, we completed the previously announced acquisition (the “Fairborn Acquisition”) of certain assets of CEMEX Construction Materials Atlantic, LLC (the “Seller”). The assets acquired by the Company in the Fairborn Acquisition include a cement plant located in Fairborn, Ohio, a cement distribution terminal located in Columbus, Ohio, and certain other related assets. Purchase Price Recording of assets acquired and liabilities assumed The preparation of the valuation of the assets acquired and liabilities assumed in the Fairborn Acquisition requires the use of significant assumptions and estimates. Critical estimates include, but are not limited to, replacement value and condition of property and equipment, future expected cash flows, including projected revenues and expenses, and applicable discount rates for intangible and other assets. These estimates are based on assumptions that we believe to be reasonable. However, actual results may differ from these estimates. The Company has determined preliminary fair values of the assets acquired and liabilities assumed in the Fairborn Acquisition. These values are subject to change as we perform additional reviews of the property and equipment, repair parts and the asset retirement obligation. The following table summarizes the provisional allocation of the Fairborn Purchase Price to assets acquired and liabilities assumed as of the acquisition date: Purchase price allocation at acquisition date (in thousands) As of February 10, 2017 Inventories $ 11,106 Property and Equipment 314,897 Intangible Assets 10,000 Other Assets 4,000 Asset Retirement Obligation (4,000 ) Total Net Assets 336,003 Goodwill 64,485 Total Estimated Purchase Price $ 400,488 Goodwill represents the excess purchase price over the fair values of assets acquired and liabilities assumed. The goodwill was generated by the availability of co-product sales and the opportunity associated with the expansion of our cement business to the eastern region of the United States. All of the goodwill generated by the transaction will be deductible for income tax purposes. Intangible Assets Weighted Average Life Estimated Fair Value Customer Relationships 15 9,000 Permits 40 1,000 Total Intangible Assets $ 10,000 Actual and pro forma impact of the Fairborn Acquisition For the Three Months For the Six Months Ended September 30, Ended September 30, 2017 2017 (dollars in thousands) Revenues $ 25,266 $ 47,421 Operating Earnings $ 7,855 $ 13,833 Operating earnings shown above for the six months ended September 30, 2017 have been impacted by approximately $7.2 million and $0.6 million related to depreciation and amortization and the recording of acquired inventory at fair value, respectively. The unaudited pro forma results presented below include the effects of the Fairborn Acquisition as if it had been consummated as of April 1, 2016. The pro forma results include the amortization associated with an estimate for acquired intangible assets and interest expense associated with debt used to fund the Fairborn Acquisition and depreciation from the fair value adjustments for property and equipment. To better reflect the combined operating results, material nonrecurring charges directly related to the Fairborn Acquisition of approximately $5.5 million have been excluded from pro forma net income for fiscal 2017. For the Three Months Ended September 30, 2016 For the Six Months Ended September 30, 2016 (dollars in thousands) Revenues $ 356,846 $ 677,532 Net Income $ 63,471 $ 111,336 Earnings per share – basis $ 1.33 $ 2.32 Earnings per share - diluted $ 1.32 $ 2.30 The pro forma results do not include any anticipated synergies or other expected benefits of the Fairborn Acquisition. Accordingly, the unaudited pro forma results are not necessarily indicative of either future results of operations or results that might have been achieved had the Fairborn Acquisition been consummated as of April 1, 2016. Wildcat Acquisition On July 27, 2017, we acquired all of the outstanding equity interests in Wildcat Minerals LLC (the “Wildcat Acquisition”). Wildcat Minerals LLC operates transload facilities serving the oil and gas industry in several oil and gas basins across the United States. The purchase price (the “Purchase Price”) of the Wildcat Acquisition was approximately $36.8 million, subject to adjustments for working capital and other customary post-closing adjustments. The Purchase Price was allocated as follows: approximately $3.1 million to current assets, $28.3 million to property and equipment, $1.4 million to intangible and other assets, $2.8 million to current liabilities and $6.8 million to goodwill. The Purchase Price and expenses incurred in connection with the Wildcat Acquisition were funded through operating cash flow and borrowings under our bank credit facility. Assets related to the Wildcat Acquisition will be included in the Corporate and Other segment in our segment reporting.

CASH FLOW INFORMATION - SUPPLEM

CASH FLOW INFORMATION - SUPPLEMENTAL	6 Months Ended
	Sep. 30, 2017
Supplemental Cash Flow Elements [Abstract]
CASH FLOW INFORMATION - SUPPLEMENTAL	(C) CASH FLOW INFORMATION—SUPPLEMENTAL Cash payments made for interest were $14.6 million and $6.8 million for the six months ended September 30, 2017 and 2016, respectively. Net payments made for federal and state income taxes during the six months ended September 30, 2017 and 2016, were $52.4 million and $39.3 million, respectively. We have excluded approximately $5.2 million of non-cash investing activities from the statement of cash flows related to fixed asset additions for which we were not invoiced until October 2017. These amounts were accrued at September 30, 2017 and paid during October 2017.

ACCOUNTS AND NOTES RECEIVABLE

ACCOUNTS AND NOTES RECEIVABLE	6 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
ACCOUNTS AND NOTES RECEIVABLE	(D) ACCOUNTS AND NOTES RECEIVABLE Accounts and notes receivable have been shown net of the allowance for doubtful accounts of $10.9 million and $10.7 million at September 30, 2017 and March 31, 2017, 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 September 30, 2017, of which approximately $2.3 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 fiscal 2018 and 2021. 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	6 Months Ended
	Sep. 30, 2017
Equity [Abstract]
STOCKHOLDERS' EQUITY	(E) STOCKHOLDERS’ EQUITY A summary of changes in stockholders’ equity follows: For the Six Months Ended (dollars in thousands) Common Stock – Balance at Beginning of Period $ 485 Issuance of Restricted Stock 1 Purchase and Retirement of Common Stock (1 ) Stock Option Exercises 1 Balance at End of Period 486 Capital in Excess of Par Value – Balance at Beginning of Period 149,014 Stock Compensation Expense 7,235 Cumulative Impact of the Adoption of ASU 2016-09 713 Shares Redeemed to Settle Employee Taxes (2,455 ) Stock Option Exercises 20,424 Purchase and Retirement of Common Stock (24,902 ) Balance at End of Period 150,029 Retained Earnings – Balance at Beginning of Period 1,061,347 Dividends Declared to Stockholders (9,718 ) Cumulative Impact of the Adoption of ASU 2016-09 (713 ) Net Earnings 118,244 Balance at End of Period 1,169,160 Accumulated Other Comprehensive Loss - Balance at Beginning of Period (7,396 ) Change in Funded Status of Pension Plan, net of tax 394 Balance at End of Period (7,002 ) Total Stockholders’ Equity $ 1,312,673 During the six months ended September 30, 2017, we repurchased 272,772 shares at an average price of $91.31. As of September 30, 2017, we have authorization to purchase an additional 4,544,428 shares.

INVENTORIES

INVENTORIES	6 Months Ended
	Sep. 30, 2017
Inventory Disclosure [Abstract]
INVENTORIES	(F) 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 September 30, 2017 March 31, 2017 (dollars in thousands) Raw Materials and Material-in-Progress $ 111,355 $ 122,736 Finished Cement 22,185 24,428 Gypsum Wallboard 7,668 7,951 Paperboard 8,738 8,635 Frac Sand 2,239 2,907 Aggregates 7,553 7,686 Repair Parts and Supplies 73,851 73,732 Fuel and Coal 5,600 4,771 $ 239,189 $ 252,846

ACCRUED EXPENSES

ACCRUED EXPENSES	6 Months Ended
	Sep. 30, 2017
Payables And Accruals [Abstract]
ACCRUED EXPENSES	(G) ACCRUED EXPENSES Accrued expenses consist of the following: As of September 30, 2017 March 31, 2017 (dollars in thousands) Payroll and Incentive Compensation $ 19,850 $ 22,850 Benefits 13,433 11,503 Interest 5,791 5,992 Property Taxes 7,332 4,759 Power and Fuel 1,672 1,536 Sales and Use Tax 1,287 2,459 Legal 1,606 944 Acquisition Related Expenses — 350 Other 8,817 4,986 $ 59,788 $ 55,379

SHARE-BASED EMPLOYEE COMPENSATI

SHARE-BASED EMPLOYEE COMPENSATION	6 Months Ended
	Sep. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
SHARE-BASED EMPLOYEE COMPENSATION	(H) 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 2017, the Compensation Committee approved the granting of an aggregate of 58,055 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 2018 Employee Performance Stock Option Grant”). The performance criterion for the Fiscal 2018 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, 2018. 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, 2019 through 2021. The stock options have a term of ten years from the date of grant. The Compensation Committee also approved the granting of 48,379 time vesting stock options to the same officers and key employees, which vest ratably over four years (the “Fiscal 2018 Employee Time Vesting Stock Option Grant). In August 2017, we granted 6,052 options to members of the Board of Directors (the “Fiscal 2018 Board of Directors Stock Option Grant”). Options granted under the Fiscal 2018 Board of Directors Stock Option Grant vest immediately and can be exercised from the date of grant until their expiration on the tenth anniversary of the date of the grant. The Fiscal 2018 Employee Performance Stock Option Grant, Fiscal 2018 Employee Time Vesting Stock Option Grant and Fiscal 2018 Board of Directors 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 2018 are as follows: Fiscal 2018 Dividend Yield 1.3% Expected Volatility 36.3% Risk Free Interest Rate 2.1% Expected Life 6.0 years Stock option expense for all outstanding stock option awards totaled approximately $1.3 million and $2.2 million for the three and six months ended September 30, 2017, respectively and approximately $1.8 million and $3.0 million for the three and six months ended September 30, 2016, respectively. At September 30, 2017, there was approximately $8.9 million of unrecognized compensation cost related to outstanding stock options, which is expected to be recognized over a weighted-average period of 2.8 years. The following table represents stock option activity for the six months ended September 30, 2017: Number of Shares Weighted- Average Exercise Price Outstanding Options at Beginning of Period 1,323,379 $ 66.07 Granted 119,986 $ 100.20 Exercised (388,675 ) $ 58.95 Cancelled (16,742 ) $ 78.05 Outstanding Options at End of Period 1,037,948 $ 72.49 Options Exercisable at End of Period 635,676 $ 65.13 Weighted-Average Fair Value of Options Granted during the Period $ 33.37 The following table summarizes information about stock options outstanding at September 30, 2017: Outstanding Options Exercisable Options Range of Exercise Prices Number of Shares Outstanding Weighted - Average Remaining Contractual Life Weighted - Average Exercise Price Number of Shares Outstanding Weighted - Average Exercise Price $23.17 – $ 29.84 69,110 3.84 $ 23.47 69,110 $ 23.47 $33.43 – $ 37.34 108,582 4.71 $ 33.93 108,582 $ 33.93 $53.22 – $ 77.67 320,137 7.45 $ 70.94 164,094 $ 69.22 $79.73 – $ 106.00 540,119 7.82 $ 87.43 293,890 $ 84.18 1,037,948 7.11 $ 72.49 635,676 $ 65.13 At September 30, 2017, the aggregate intrinsic value for outstanding and exercisable options was approximately $35.5 million and $26.4 million, respectively. The total intrinsic value of options exercised during the six months ended September 30, 2017 was approximately $16.2 million. Restricted Stock. In May 2017, the Compensation Committee approved the granting of an aggregate of 52,646 shares of performance vesting restricted stock to certain officers and key employees that will be earned if certain performance conditions are satisfied (the “Fiscal 2018 Employee Restricted Stock Performance Award”). The performance criterion for the Fiscal 2018 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, 2018. 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, 2019 through 2021. The Compensation Committee also approved the granting of 43,874 shares of time vesting restricted stock to the same officers and key employees, which vest ratably over four years (the “Fiscal 2018 Employee Restricted Stock Time Vesting Award”). In August 2017, we awarded 11,444 shares of restricted stock to members of the Board of Directors (the “Board of Directors Fiscal 2018 Restricted Stock Award”), which vests six months after the grant date. The Fiscal 2018 Employee Restricted Stock Performance Award and the Fiscal 2018 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. The Board of Director Fiscal 2018 Restricted Stock Awards were valued at the closing price of the stock on the date of grant, and are being expensed over a six month period. Expense related to restricted shares was approximately $2.5 million and $5.0 million for the three and six months ended September 30, 2017, respectively and approximately $1.8 million and $3.2 million for the three and six months ended September 30, 2016, respectively. At September 30, 2017, there was approximately $22.4 million of unearned compensation from restricted stock, which will be recognized over a weighted-average period of 2.6 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 4,144,352 at September 30, 2017.

COMPUTATION OF EARNINGS PER SHA

COMPUTATION OF EARNINGS PER SHARE	6 Months Ended
	Sep. 30, 2017
Earnings Per Share [Abstract]
COMPUTATION OF EARNINGS PER SHARE	(I) COMPUTATION OF EARNINGS PER SHARE The calculation of basic and diluted common shares outstanding is as follows: For the Three Months Ended September 30, For the Six Months Ended September 30, 2017 2016 2017 2016 Weighted-Average Shares of Common Stock Outstanding 48,053,733 47,809,476 48,087,625 47,911,276 Common Equivalent Shares: Assumed Exercise of Outstanding Dilutive Options 1,060,209 864,378 1,159,975 951,783 Less: Shares Repurchased from Assumed Proceeds of Assumed Exercised Options (801,684 ) (600,322 ) (865,203 ) (657,730 ) Restricted Shares 192,509 155,953 197,587 169,787 Weighted-Average Common and Common Equivalent Shares Outstanding 48,504,767 48,229,485 48,579,984 48,375,116 Shares Excluded Due to Anti-dilution Effects 88,729 646,593 76,044 669,406

PENSION AND EMPLOYEE BENEFIT PL

PENSION AND EMPLOYEE BENEFIT PLANS	6 Months Ended
	Sep. 30, 2017
Compensation And Retirement Disclosure [Abstract]
PENSION AND EMPLOYEE BENEFIT PLANS	(J) PENSION AND EMPLOYEE BENEFIT PLANS We sponsor several defined benefit pension plans and defined contribution 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 September 30, For the Six Months ended September 30, 2017 2016 2017 2016 (dollars in thousands) (dollars in thousands) Service Cost – Benefits Earned During the Period $ 153 $ 221 $ 404 $ 443 Interest Cost of Benefit Obligations 357 398 753 797 Expected Return on Plan Assets (578 ) (415 ) (980 ) (831 ) Recognized Net Actuarial Loss 46 426 473 851 Amortization of Prior-Service Cost 60 74 150 149 Net Periodic Pension Cost $ 38 $ 704 $ 800 $ 1,409 We anticipate contributing approximately $8.5 million to our pension plans during our fiscal third quarter, which is expected to substantially decrease our unfunded pension liability at March 31, 2018.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Sep. 30, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	(K) 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 six months ended September 30, 2017 was approximately 31%, which was lower than the effective tax rate of 33% for the six months ended September 30, 2016, primarily due to the discrete benefit of approximately $2.7 million related to share based compensation, in accordance with ASU 2016-09.

LONG-TERM DEBT

LONG-TERM DEBT	6 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
LONG-TERM DEBT	(L) LONG-TERM DEBT Long-term debt consists of the following: As of September 30, 2017 March 31, 2017 (dollars in thousands) Credit Facility $ 195,000 $ 225,000 4.500% Senior Unsecured Notes Due 2026 350,000 350,000 Private Placement Senior Unsecured Notes 117,714 117,714 Total Debt 662,714 692,714 Less: Current Portion of Long-term Debt (81,214 ) (81,214 ) Less: Debt Origination Costs (5,912 ) (6,247 ) Total Long-term Debt $ 575,588 $ 605,253 Credit Facility – We have a $500.0 million revolving credit facility (the “Credit Facility”), including a swingline loan sublimit of $25.0 million, which terminates on August 2, 2021. 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 $40.0 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 September 30, 2017, we had $9.4 million of letters of credit outstanding. 4.500% Senior Unsecured Notes Due 2026 – On August 2, 2016, the Company issued $350.0 million aggregate principal amount of 4.500% senior notes ("Senior Unsecured Notes") due August 2026. Interest on the Senior Unsecured Notes is payable semiannually on February 1 and August 1 of each year until all of the outstanding notes are paid. The Senior Unsecured Notes rank equal to existing and future senior indebtedness, including the Credit Facility and the Private Placement Senior Unsecured Notes. Prior to August 1, 2019, we may redeem up to 40% of the original aggregate principal amount of the Senior Unsecured Notes with the proceeds of certain equity offerings at a redemption price of 104.5% of the principal amount of the notes. On or after August 1, 2019 and prior to August 1, 2021, we may redeem some or all of the Senior Unsecured Notes at a price equal to 100% of the principal amount, plus a “make-whole” premium. Beginning on August 1, 2021, we may redeem some or all of the Senior Unsecured Notes at the redemption prices set forth below (expressed as a percentage of the principal amount being redeemed): Percentage 2021 102.25 % 2022 101.50 % 2023 100.75 % 2024 and thereafter 100.00 % The Senior Unsecured Notes contain covenants that limit our ability and/or our guarantor subsidiaries' ability to create or permit to exist certain liens; enter into sale and leaseback transactions; and consolidate, merge, or transfer all or substantially all of our assets. The Company’s Senior Unsecured Notes are fully and unconditionally and jointly and severally guaranteed by each of our subsidiaries that is a guarantor under the Credit Facility and Private Placement Senior Unsecured Notes. See Footnote (Q) to the Unaudited Consolidated Financial Statements for more information on the guarantors of the Senior Public Notes. Private Placement 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 $200.0 million of senior, unsecured notes, designated as Series 2005A Senior Notes (the “Series 2005A Senior Unsecured Notes”) in a private placement transaction. The Series 2005A Senior Unsecured Notes, which are guaranteed by substantially all of our subsidiaries, were sold at par and issued in three tranches. At September 30, 2017, 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 Unsecured Notes is payable semi-annually on May 15 and 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 $200.0 million of senior unsecured notes, designated as Series 2007A Senior Notes (the “Series 2007A Senior Unsecured Notes” and together with the Series 2005A Senior Unsecured Notes, the “Private Placement Senior Unsecured Notes”) in a private placement transaction. The Series 2007A Senior Unsecured Notes, which are guaranteed by substantially all of our subsidiaries, were sold at par and issued in four tranches. At September 30, 2017, the amounts outstanding for each of the remaining tranches were as follows: Principal Maturity Date Interest Rate 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 April 2 and October 2 of each year until all principal is paid for the respective tranche. During October 2017, the $24.0 million outstanding under Tranche C of the Series 2007A Senior Unsecured Notes matured, and the related notes were repaid and cancelled at that time. 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 Unsecured Notes are equal in right of payment with all other senior, unsecured indebtedness of the Company, including our indebtedness under the Credit Facility and Senior Unsecured Notes. 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 September 30, 2017. 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 Unsecured Notes and the other payment and performance obligations of the Company contained in the Private Placement Senior Unsecured 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 Unsecured 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 Unsecured 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 Unsecured 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	6 Months Ended
	Sep. 30, 2017
Segment Reporting [Abstract]
SEGMENT INFORMATION	(M) 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 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 seven cement plants, one slag grinding facility, seventeen cement distribution terminals, five gypsum wallboard plants, 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, six frac sand trans-load locations and eleven frac sand distribution centers. The principal markets for our cement products are Texas, northern Illinois (including Chicago), the central plains, the Rocky Mountains, northern Nevada, Ohio 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 and distributed into shale deposit zones across the United States. We conduct one of our seven 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 For the Six Months Ended September 30, Ended September 30, 2017 2016 2017 2016 (dollars in thousands) (dollars in thousands) Revenues - Cement $ 191,650 $ 166,811 $ 374,585 $ 311,603 Gypsum Wallboard 123,068 122,923 249,881 236,185 Paperboard 45,359 44,459 89,772 87,274 Oil and Gas Proppants 22,022 6,631 40,932 11,727 Concrete and Aggregates 43,431 39,140 87,350 73,891 Sub-total 425,530 379,964 842,520 720,680 Less: Intersegment Revenues (23,215 ) (20,331 ) (45,914 ) (38,655 ) Net Revenues, including Joint Venture 402,315 359,633 796,606 682,025 Less: Joint Venture (26,000 ) (26,975 ) (54,170 ) (51,863 ) Net Revenues $ 376,315 $ 332,658 $ 742,436 $ 630,162 For the Three Months For the Six Months Ended September 30, Ended September 30, 2017 2016 2017 2016 (dollars in thousands) (dollars in thousands) Intersegment Revenues - Cement $ 4,654 $ 4,536 $ 9,583 $ 8,071 Paperboard 18,159 15,452 35,516 29,958 Concrete and Aggregates 402 343 815 626 $ 23,215 $ 20,331 $ 45,914 $ 38,655 Cement Sales Volume (in thousands of tons) - Wholly –owned Operations 1,343 1,200 2,611 2,233 Joint Venture 227 242 470 460 1,570 1,442 3,081 2,693 For the Three Months For the Six Months Ended September 30, Ended September 30, 2017 2016 2017 2016 (dollars in thousands) (dollars in thousands) Operating Earnings - Cement $ 58,752 $ 50,716 $ 101,933 $ 82,316 Gypsum Wallboard 39,575 41,698 83,396 81,034 Paperboard 6,517 10,220 11,455 21,447 Oil and Gas Proppants (1,754 ) (4,090 ) (3,780 ) (10,002 ) Concrete and Aggregates 5,619 4,813 11,640 8,497 Sub-total 108,709 103,357 204,644 183,292 Corporate General and Administrative (9,821 ) (8,832 ) (19,500 ) (18,665 ) Other Income 887 504 1,644 1,579 Earnings Before Interest and Income Taxes 99,775 95,029 186,788 166,206 Interest Expense, net (7,456 ) (5,656 ) (14,939 ) (9,557 ) Earnings Before Income Taxes $ 92,319 $ 89,373 $ 171,849 $ 156,649 Cement Operating Earnings - Wholly–owned Operations $ 46,797 $ 38,569 $ 80,102 $ 62,189 Joint Venture 11,955 12,147 21,831 20,127 $ 58,752 $ 50,716 $ 101,933 $ 82,316 Capital Expenditures - Cement $ 13,014 $ 5,009 $ 20,732 $ 10,254 Gypsum Wallboard 5,219 2,097 10,861 3,425 Paperboard 659 400 1,423 1,704 Oil and Gas Proppants 13,781 8 14,360 65 Concrete and Aggregates 1,118 1,506 2,530 2,550 Corporate and Other 140 233 185 233 $ 33,931 $ 9,253 $ 50,091 $ 18,231 Depreciation, Depletion and Amortization - Cement $ 12,662 $ 8,784 $ 25,141 $ 17,395 Gypsum Wallboard 4,473 4,768 8,915 9,530 Paperboard 2,172 2,106 4,309 4,206 Oil and Gas Proppants 8,518 4,261 16,124 9,445 Concrete and Aggregates 1,929 1,920 3,844 3,669 Corporate and Other 552 547 920 1,004 $ 30,306 $ 22,386 $ 59,253 $ 45,249 As of September 30, 2017 March 31, 2017 (dollars in thousands) Identifiable Assets - Cement $ 1,244,725 $ 1,234,617 Gypsum Wallboard 378,927 379,414 Paperboard 123,527 124,356 Oil and Gas Proppants 380,838 376,306 Concrete and Aggregates 107,831 110,413 Corporate and Other 85,193 22,018 $ 2,321,041 $ 2,247,124 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, unrecognized tax benefits and assets acquired in the Wildcat Acquisition. The segment breakdown of goodwill is as follows: As of September 30, 2017 March 31, 2017 (dollars in thousands) Cement $ 74,214 $ 74,214 Gypsum Wallboard 116,618 116,618 Paperboard 7,538 7,538 Corporate and Other 6,841 — $ 205,211 $ 198,370 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 Ended September 30, For the Six Months Ended September 30, 2017 2016 2017 2016 (dollars in thousands) (dollars in thousands) Revenues $ 54,000 $ 55,458 $ 111,818 $ 105,334 Gross Margin $ 24,938 $ 25,588 $ 46,251 $ 42,925 Earnings Before Income Taxes $ 23,910 $ 24,294 $ 43,662 $ 40,254 As of September 30, 2017 March 31, 2017 (dollars in thousands) Current Assets $ 68,955 $ 73,767 Non-Current Assets $ 66,473 $ 42,337 Current Liabilities $ 32,718 $ 22,293

INTEREST EXPENSE

INTEREST EXPENSE	6 Months Ended
	Sep. 30, 2017
Banking And Thrift Interest [Abstract]
INTEREST EXPENSE	(N) INTEREST EXPENSE The following components are included in interest expense, net: For the Three Months Ended September 30, For the Six Months Ended September 30, 2017 2016 2017 2016 (dollars in thousands) (dollars in thousands) Interest (Income) $ (3 ) $ (4 ) $ (6 ) $ (4 ) Interest Expense 7,153 5,348 14,329 9,096 Other Expenses 306 312 616 465 Interest Expense, net $ 7,456 $ 5,656 $ 14,939 $ 9,557 Interest income includes interest on investments of excess cash. Components of interest expense include interest associated with the Private Placement Senior Unsecured Notes, the Credit Facility, the Senior Unsecured Notes 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	6 Months Ended
	Sep. 30, 2017
Commitments And Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	(O) 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 September 30, 2017, we had contingent liabilities under these outstanding letters of credit of approximately $9.4 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 $21.1 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 alleged 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 alleged 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 was materially similar to the 2010 NOV except that it alleged violations of the new source performance standards (“NSPS”) for Portland cement plants. The NOVs stated that the EPA may seek penalties although it did not propose or assess any specific level of penalties or specify what relief the EPA would seek for the alleged violations. In January 2017, NCC entered into a Consent Decree in which NCC agreed to install at its Fernley, Nevada plant certain emission control equipment (selective non-catalytic reduction) to reduce nitrous oxide emissions and to pay a penalty of $0.6 million. NCC also agreed to replace two existing vehicles with two new vehicles with more efficient Tier 4 engines. Under the terms of the Consent Decree, NCC will complete the installation of the emission control equipment and vehicle replacement in approximately 2 years. It is anticipated that the investment in the new emission control equipment and vehicles will cost approximately $3.0 million. In the Consent Decree NCC denies all allegations set forth in the NOVs and the Complaint which was filed simultaneously with the entry of the Consent Decree, and the Consent Decree resolves all such claims by the government. The Consent Decree was signed by the EPA and the US Department of Justice and lodged in US District Court for the District of Nevada in May 2017. On October 4, 2017, the Consent Decree was entered by the Court and NCC paid the penalty in early October. 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 the defendant wallboard manufacturers conspired 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 included CertainTeed Corp. (“Certainteed”), USG Corporation and United States Gypsum (together “USG”), New NGC, Inc. (“New NGC”), Lafarge North America (“Lafarge”), Temple Inland Inc. (“TIN”) and PABCO Building Products LLC (“PABCO”). 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 complaints assert claims on behalf of purported classes of direct purchasers or end users 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. Under the terms of its settlement agreement, USG agreed to pay $48.0 million to resolve the direct and indirect purchaser class actions. In its settlement agreement, TIN agreed to pay $7.0 million to resolve the direct and indirect purchaser class actions. On August 20, 2015, the court entered orders finally approving USG and TIN’s settlements with the direct and indirect purchaser plaintiffs. Following completion of the initial discovery, the Company and remaining co-defendants moved for summary judgment. On February 18, 2016, the court denied the Company’s motion for summary judgment and granted judgment in favor of Certainteed. 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 for $23.0 million. The court entered an order finally approving this settlement on December 7, 2016. On July 28, 2016, Lafarge entered into an agreement with counsel representing the indirect purchaser class under which it agreed to settle all claims against it for $5.2 million. Indirect purchaser plaintiffs filed a motion for preliminary approval of this settlement in September 2016. On July 14, 2016, the Company’s motion for permission to appeal the summary judgment decision to the U.S. Court of Appeals for the Third Circuit was denied. Direct purchaser plaintiffs and indirect purchaser plaintiffs filed their motions for class certification on August 3, 2016 and October 12, 2016, respectively. The Court held an evidentiary hearing on the direct purchaser plaintiffs’ motion for class certification in April 2017 and held a hearing on indirect purchaser plaintiffs’ motion for class certification in June 2017. On August 23, 2017, the court granted the direct purchaser plaintiffs’ motion for class certification and certified a class consisting of all persons or entities that purchased paper-backed gypsum wallboard in the United States from January 1, 2012 through January 31, 2013 directly from American Gypsum, the Company, Lafarge, New NGC, PABCO, USG, and/or L&W Supply Corporation (which was a subsidiary of USG Corporation during the class period). On August 24, 2017, the court denied the indirect purchaser plaintiffs’ motion for class certification. On September 6, 2017, American Gypsum, the Company, New NGC, and PABCO filed a petition with the U.S. Court of Appeals for the Third Circuit seeking interlocutory appeal of the district court’s decision granting the direct purchaser plaintiffs’ motion for class certification under Federal Rule of Civil Procedure 23(f). On September 7, 2017, the indirect purchaser plaintiffs filed a petition with the Third Circuit appealing the district court’s denial of their motion for class certification. The Third Circuit denied the indirect purchaser plaintiff’s petition on October 12, 2017; the defendants’ petition remains pending before the Third Circuit. On September 7, 2017, the indirect purchaser plaintiffs also filed a proposal to file a motion for class certification for a class consisting of persons and entities who purchased drywall manufactured by American Gypsum, USG, New NGC, Lafarge, TIN, and PABCO from The Home Depot, Inc., Lowe’s Companies, Inc., or Menards Inc. during the period from January 1, 2012 through January 31, 2013. On September 6, 2017, American Gypsum, the Company, New NGC, and PABCO moved for the entry of partial summary judgment in their favor with respect to the direct purchaser and indirect purchaser plaintiffs’ claims that TIN and non-defendant Georgia-Pacific LLC participated in the alleged conspiracy. The plaintiffs moved to strike the motion for partial summary judgment on September 18, 2017. In the direct purchaser class action, if the petition currently before the Third Circuit appealing direct purchasers class certification is not granted, we expect that a trial date may be set in the near future. We intend to continue to defend against these claims vigorously. In addition, we plan to commence preparations for trial and may from time to time engage in settlement and other discussions with direct purchaser plaintiffs, if we conclude that such discussions have the potential to result in an appropriate resolution of this action. At this point, we are not able to predict the likely outcome of a trial or any settlement discussions; however, an adverse outcome in either scenario could have a material adverse effect on our financial position or results of operations. 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. As a result of settlements reached with TIN and Lafarge, the homebuilder plaintiffs voluntarily dismissed their claims against TIN and Lafarge on June 6 and June 24, 2016, respectively. On January 31, 2017, the plaintiffs voluntarily dismissed their claims against CertainTeed. Discovery in this lawsuit is ongoing. At this stage, we are unable to estimate the amount of any reasonably possible loss or range of reasonably possible losses for the anti-trust lawsuits. 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	6 Months Ended
	Sep. 30, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	(P) 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 Senior Unsecured Notes and Private Placement Senior Unsecured Notes at September 30, 2017 is as follows: Fair Value (dollars in thousands) Series 2005A Tranche C $ 57,399 Series 2007A Tranche C 24,005 Series 2007A Tranche D 38,609 4.5% Senior Unsecured Notes Due 2026 365,190 The estimated fair values were 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 September 30, 2017 due to the short-term maturities of these assets and liabilities. The fair value of our Credit Facility also approximates its carrying value at September 30, 2017.

FINANCIAL STATEMENTS FOR GUARAN

FINANCIAL STATEMENTS FOR GUARANTORS OF THE 4.500% SENIOR UNSECURED NOTES	6 Months Ended
	Sep. 30, 2017
Organization Consolidation And Presentation Of Financial Statements [Abstract]
FINANCIAL STATEMENTS FOR GUARANTORS OF THE 4.500% SENIOR UNSECURED NOTES	(Q) FINANCIAL STATEMENTS FOR GUARANTORS OF THE 4.500% SENIOR UNSECURED NOTES On August 2, 2016, the Company completed a public offering of its Senior Unsecured Notes. The Senior Unsecured Notes are senior unsecured obligations of the Company and were offered under the Company’s existing shelf registration statement filed with the Securities and Exchange Commission. The Senior Unsecured Notes are guaranteed by all of the Company’s wholly-owned subsidiaries, and all guarantees are 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 September 30, 2017 Parent Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 376,315 $ — $ 376,315 Cost of Goods Sold — 279,561 — 279,561 Gross Profit — 96,754 — 96,754 Equity in Earnings of Unconsolidated Joint Venture 11,955 11,955 (11,955 ) 11,955 Equity in Earnings of Subsidiaries 64,496 — (64,496 ) — Corporate General and Administrative Expenses (9,178 ) (643 ) — (9,821 ) Other Income (Loss) (179 ) 1,066 — 887 Interest Expense, net (13,833 ) 6,377 — (7,456 ) Earnings before Income Taxes 53,261 115,509 (76,451 ) 92,319 Income Taxes 10,101 (39,058 ) — (28,957 ) Net Earnings $ 63,362 $ 76,451 $ (76,451 ) $ 63,362 Net Earnings $ 63,362 $ 76,451 $ (76,451 ) $ 63,362 Net Actuarial Change in Benefit Plans, net of tax 197 197 (197 ) 197 Comprehensive Earnings $ 63,559 $ 76,648 $ (76,648 ) $ 63,559 Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Three Months Ended September 30, 2016 Parent Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 332,658 $ — $ 332,658 Cost of Goods Sold — 241,448 — 241,448 Gross Profit — 91,210 — 91,210 Equity in Earnings of Unconsolidated Joint Venture 12,147 12,147 (12,147 ) 12,147 Equity in Earnings of Subsidiaries 61,469 — (61,469 ) — Corporate General and Administrative Expenses (7,497 ) (1,335 ) — (8,832 ) Other Income (Loss) (137 ) 641 — 504 Interest Expense, net (12,354 ) 6,698 — (5,656 ) Earnings before Income Taxes 53,628 109,361 (73,616 ) 89,373 Income Taxes 6,609 (35,745 ) — (29,136 ) Net Earnings $ 60,237 $ 73,616 $ (73,616 ) 60,237 Net Earnings $ 60,237 $ 73,616 $ (73,616 ) 60,237 Net Actuarial Change in Benefit Plans, net of tax 312 312 (312 ) 312 Comprehensive Earnings $ 60,549 $ 73,928 $ (73,928 ) $ 60,549 Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Six Months Ended September 30, 2017 Parent Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 742,436 $ — $ 742,436 Cost of Goods Sold — 559,623 — 559,623 Gross Profit — 182,813 — 182,813 Equity in Earnings of Unconsolidated Joint Venture 21,831 21,831 (21,831 ) 21,831 Equity in Earnings of Subsidiaries 122,792 — (122,792 ) — Corporate General and Administrative Expenses (17,826 ) (1,674 ) — (19,500 ) Other Income (Loss) (346 ) 1,990 — 1,644 Interest Expense, net (26,795 ) 11,856 — (14,939 ) Earnings before Income Taxes 99,656 216,816 (144,623 ) 171,849 Income Taxes 18,588 (72,193 ) — (53,605 ) Net Earnings $ 118,244 $ 144,623 $ (144,623 ) $ 118,244 Net Earnings $ 118,244 $ 144,623 $ (144,623 ) $ 118,244 Net Actuarial Change in Benefit Plans, net of tax 394 394 (394 ) 394 Comprehensive Earnings $ 118,638 $ 145,017 $ (145,017 ) $ 118,638 Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Six Months Ended September 30, 2016 Parent Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 630,162 $ — $ 630,162 Cost of Goods Sold — 466,997 — 466,997 Gross Profit — 163,165 — 163,165 Equity in Earnings of Unconsolidated Joint Venture 20,127 20,127 (20,127 ) 20,127 Equity in Earnings of Subsidiaries 111,172 — (111,172 ) — Corporate General and Administrative Expenses (15,728 ) (2,937 ) — (18,665 ) Other Income (Loss) (214 ) 1,793 — 1,579 Interest Expense, net (22,365 ) 12,808 — (9,557 ) Earnings before Income Taxes 92,992 194,956 (131,299 ) 156,649 Income Taxes 12,589 (63,657 ) — (51,068 ) Net Earnings $ 105,581 $ 131,299 $ (131,299 ) 105,581 Net Earnings $ 105,581 $ 131,299 $ (131,299 ) 105,581 Net Actuarial Change in Benefit Plans, net of tax 624 624 (624 ) 624 Comprehensive Earnings $ 106,205 $ 131,923 $ (131,923 ) $ 106,205 Condensed Consolidating Balance Sheet At September 30, 2017 Parent Guarantor Subsidiaries Eliminations Consolidated ASSETS Current Assets - Cash and Cash Equivalents $ 29,062 $ 1,994 $ — $ 31,056 Accounts and Notes Receivable 396 168,729 — 169,125 Inventories — 239,189 — 239,189 Prepaid and Other Current Assets 595 6,845 — 7,440 Total Current Assets 30,053 416,757 — 446,810 Property, Plant and Equipment - 3,099 2,512,238 — 2,515,337 Less: Accumulated Depreciation (999 ) (945,935 ) — (946,934 ) Property, Plant and Equipment, net 2,100 1,566,303 — 1,568,403 Notes Receivable — 476 — 476 Investment in Joint Venture 61 52,899 — 52,960 Investments in Subsidiaries and Receivables from Affiliates 5,415,507 3,446,701 (8,862,208 ) — Goodwill and Intangible Assets, net — 240,947 — 240,947 Other Assets 5,521 5,924 — 11,445 $ 5,453,242 $ 5,730,007 $ (8,862,208 ) $ 2,321,041 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities- Accounts Payable $ 6,067 $ 73,127 $ — $ 79,194 Accrued Liabilities 19,787 40,001 — 59,788 Income Tax Payable 1,211 — — 1,211 Current Portion of Long-term Debt 81,214 — — 81,214 Total Current Liabilities 108,279 113,128 — 221,407 Long-term Debt 575,588 — — 575,588 Other Long-term Liabilities 157 43,881 — 44,038 Payables to Affiliates 3,446,701 2,970,110 (6,416,811 ) — Deferred Income Taxes 9,844 157,491 — 167,335 Total Liabilities 4,140,569 3,284,610 (6,416,811 ) 1,008,368 Total Stockholders’ Equity 1,312,673 2,445,397 (2,445,397 ) 1,312,673 $ 5,453,242 $ 5,730,007 $ (8,862,208 ) $ 2,321,041 Condensed Consolidating Balance Sheet At March 31, 2017 Parent Guarantor Subsidiaries Eliminations Consolidated ASSETS Current Assets - Cash and Cash Equivalents $ 5,184 $ 1,377 $ — $ 6,561 Accounts and Notes Receivable 422 135,891 — 136,313 Inventories — 252,846 — 252,846 Income Tax Receivable 33,196 — (33,196 ) — Prepaid and Other Current Assets 484 4,420 — 4,904 Total Current Assets 39,286 394,534 (33,196 ) 400,624 Property, Plant and Equipment - 2,914 2,436,524 — 2,439,438 Less: Accumulated Depreciation (937 ) (891,664 ) — (892,601 ) Property, Plant and Equipment, net 1,977 1,544,860 — 1,546,837 Notes Receivable — 815 — 815 Investment in Joint Venture 51 48,569 — 48,620 Investments in Subsidiaries and Receivables from Affiliates 5,126,289 3,252,309 (8,378,598 ) — Goodwill and Intangible Assets, net — 235,505 — 235,505 Other Assets 5,687 9,036 — 14,723 $ 5,173,290 $ 5,485,628 $ (8,411,794 ) $ 2,247,124 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities- Accounts Payable $ 6,687 $ 85,506 $ — $ 92,193 Accrued Liabilities 21,043 34,336 — 55,379 Income Tax Payable 733 33,196 (33,196 ) 733 Current Portion of Long-term Debt 81,214 — — 81,214 Total Current Liabilities 109,677 153,038 (33,196 ) 229,519 Long-term Debt 605,253 — — 605,253 Other Long-term Liabilities 189 42,689 — 42,878 Payables to Affiliates 3,252,309 2,825,710 (6,078,019 ) — Deferred Income Taxes 2,412 163,612 — 166,024 Total Liabilities 3,969,840 3,185,049 (6,111,215 ) 1,043,674 Total Stockholders’ Equity 1,203,450 2,300,579 (2,300,579 ) 1,203,450 $ 5,173,290 $ 5,485,628 $ (8,411,794 ) $ 2,247,124 Condensed Consolidating Statement of Cash Flows Six Months ended September 30, 2017 Parent Guarantor Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES Net Cash Provided by Operating Activities $ 21,447 $ 131,301 $ — $ 152,748 CASH FLOWS FROM INVESTING ACTIVITIES Property, Plant and Equipment Additions — (44,851 ) — (44,851 ) Acquisition Spending — (36,761 ) — (36,761 ) Net Cash Used in Investing Activities — (81,612 ) — (81,612 ) CASH FLOWS FROM FINANCING ACTIVITIES Decrease in Credit Facility (30,000 ) — — (30,000 ) Dividends Paid to Stockholders (9,709 ) — — (9,709 ) Purchase and Retirement of Common Stock (24,903 ) — — (24,903 ) Proceeds from Stock Option Exercises 20,426 — — 20,426 Shares Redeemed to Settle Employee Taxes on Stock Compensation (2,455 ) — — (2,455 ) Intra-entity Activity, net 49,072 (49,072 ) — — Net Cash Provided by (Used in) Financing Activities 2,431 (49,072 ) — (46,641 ) NET INCREASE IN CASH AND CASH EQUIVALENTS 23,878 617 — 24,495 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 5,184 1,377 — 6,561 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 29,062 $ 1,994 $ — $ 31,056 Condensed Consolidating Statement of Cash Flows Six Months ended September 30, 2016 Parent Guarantor Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES Net Cash Provided by (Used in) Operating Activities $ (78,298 ) $ 238,450 $ — $ 160,152 CASH FLOWS FROM INVESTING ACTIVITIES Property, Plant and Equipment Additions (233 ) (17,998 ) — (18,231 ) Net Cash Used in Investing Activities (233 ) (17,998 ) — (18,231 ) CASH FLOWS FROM FINANCING ACTIVITIES Decrease in Credit Facility (382,000 ) — — (382,000 ) Issuance of Long-term Debt 350,000 — — 350,000 Payment of Debt Issuance Costs (6,637 ) — — (6,637 ) Dividends Paid to Stockholders (9,677 ) — — (9,677 ) Shares Redeemed to Settle Employee Taxes on Stock Compensation (2,965 ) — — (2,965 ) Purchase and Retirement of Common Stock (60,013 ) — — (60,013 ) Proceed from Stock Option Exercises 12,992 — — 12,992 Excess Tax Benefits from Share Based Payment Arrangements 5,494 — — 5,494 Intra-entity Activity, net 220,354 (220,354 ) — — Net Cash Provided by (Used in) Financing Activities 127,548 (220,354 ) — (92,806 ) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 49,017 98 — 49,115 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 3,507 1,884 — 5,391 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 52,524 $ 1,982 $ — $ 54,506

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	6 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board (“FASB”), issued Accounting Standards Update (“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 Company adopted ASU 2016-09 on April 1, 2017. The new standard provides for changes to accounting for stock compensation including 1) excess tax benefits and tax deficiencies related to share based payment awards will be recognized as income tax benefit or expense in the reporting period in which they occur; 2) excess tax benefits will be classified as an operating activity in the statement of cash flow; 3) the option to elect to estimate forfeitures or account for them when they occur; and 4) an increase in the tax withholding requirements threshold to qualify for equity classification. The primary impact of adoption was the recognition of excess tax benefits for our stock awards in the provision for income taxes rather than additional paid-in capital. As provided by the new standard, the Company changed its method of accounting for forfeitures, and will now recognize forfeitures as they occur, which resulted in an approximately $0.7 million reduction to retained earnings. Additional amendments to the accounting for income taxes and minimum statutory withholding tax requirements had no impact to retained earnings. Adoption of the new standard resulted in the recognition of excess tax benefits in our provision for income taxes rather than paid-in capital of $2.7 million for the six months ended September 30, 2017. The presentation of excess tax benefits on stock-based compensation was adopted prospectively within the unaudited Condensed Consolidated Statements of Cash Flows. The presentation requirements for cash flows related to employee taxes paid for withheld shares had no impact on any of the periods presented on the unaudited Condensed Consolidated Statements of Cash Flows as the Company has historically presented them as a financing activity. In May 2014, the FASB issued 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 2017, the FASB issued ASU 2017-07, “Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost”, which revises the accounting for periodic pension and postretirement expense. This ASU requires net periodic benefit cost, with the exception of service cost, to be presented retrospectively as nonoperating expense. Service cost will remain a component of cost of goods sold and represent the only cost of pension and postretirement expense eligible for capitalization. We will adopt the standard on April 1, 2018 using the retrospective method for presentation of service cost and other components in the income statement. We will prospectively adopt the requirement to limit the capitalization of benefit cost to the service cost component. The impact of adopting this standard will be a reduction to cost of goods sold and an increase in other expense. Had we adopted this standard on April 1, 2017, our gross profit for the six months ended September 30, 2017 would have increased by approximately $0.4 million, and other income would have decreased by $0.4 million. 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.

ACQUISITION (Tables)

ACQUISITION (Tables)	6 Months Ended
	Sep. 30, 2017
Business Combinations [Abstract]
Components of Purchase Price Allocation	The following table summarizes the provisional allocation of the Fairborn Purchase Price to assets acquired and liabilities assumed as of the acquisition date: Purchase price allocation at acquisition date (in thousands) As of February 10, 2017 Inventories $ 11,106 Property and Equipment 314,897 Intangible Assets 10,000 Other Assets 4,000 Asset Retirement Obligation (4,000 ) Total Net Assets 336,003 Goodwill 64,485 Total Estimated Purchase Price $ 400,488
Summary of Fair Value Estimates of Identifiable Intangible Assets and Weighted-Average Useful Lives	The following table is a summary of the fair value estimates of the identifiable intangible assets (in thousands) and their weighted-average useful lives: Weighted Average Life Estimated Fair Value Customer Relationships 15 9,000 Permits 40 1,000 Total Intangible Assets $ 10,000
Net Sales and Operating Earnings Related to Fairborn Acquisition	The following table presents the net sales and operating earnings related to the Fairborn Acquisition that have been included in our consolidated statement of earnings for the three and six months ended September 30, 2017: For the Three Months For the Six Months Ended September 30, Ended September 30, 2017 2017 (dollars in thousands) Revenues $ 25,266 $ 47,421 Operating Earnings $ 7,855 $ 13,833
Unaudited Pro Forma Results	For the Three Months Ended September 30, 2016 For the Six Months Ended September 30, 2016 (dollars in thousands) Revenues $ 356,846 $ 677,532 Net Income $ 63,471 $ 111,336 Earnings per share – basis $ 1.33 $ 2.32 Earnings per share - diluted $ 1.32 $ 2.30

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	Sep. 30, 2017
Equity [Abstract]
Summary of Changes in Stockholders' Equity	A summary of changes in stockholders’ equity follows: For the Six Months Ended (dollars in thousands) Common Stock – Balance at Beginning of Period $ 485 Issuance of Restricted Stock 1 Purchase and Retirement of Common Stock (1 ) Stock Option Exercises 1 Balance at End of Period 486 Capital in Excess of Par Value – Balance at Beginning of Period 149,014 Stock Compensation Expense 7,235 Cumulative Impact of the Adoption of ASU 2016-09 713 Shares Redeemed to Settle Employee Taxes (2,455 ) Stock Option Exercises 20,424 Purchase and Retirement of Common Stock (24,902 ) Balance at End of Period 150,029 Retained Earnings – Balance at Beginning of Period 1,061,347 Dividends Declared to Stockholders (9,718 ) Cumulative Impact of the Adoption of ASU 2016-09 (713 ) Net Earnings 118,244 Balance at End of Period 1,169,160 Accumulated Other Comprehensive Loss - Balance at Beginning of Period (7,396 ) Change in Funded Status of Pension Plan, net of tax 394 Balance at End of Period (7,002 ) Total Stockholders’ Equity $ 1,312,673

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Sep. 30, 2017
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 September 30, 2017 March 31, 2017 (dollars in thousands) Raw Materials and Material-in-Progress $ 111,355 $ 122,736 Finished Cement 22,185 24,428 Gypsum Wallboard 7,668 7,951 Paperboard 8,738 8,635 Frac Sand 2,239 2,907 Aggregates 7,553 7,686 Repair Parts and Supplies 73,851 73,732 Fuel and Coal 5,600 4,771 $ 239,189 $ 252,846

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	6 Months Ended
	Sep. 30, 2017
Payables And Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consist of the following: As of September 30, 2017 March 31, 2017 (dollars in thousands) Payroll and Incentive Compensation $ 19,850 $ 22,850 Benefits 13,433 11,503 Interest 5,791 5,992 Property Taxes 7,332 4,759 Power and Fuel 1,672 1,536 Sales and Use Tax 1,287 2,459 Legal 1,606 944 Acquisition Related Expenses — 350 Other 8,817 4,986 $ 59,788 $ 55,379

SHARE-BASED EMPLOYEE COMPENSA29

SHARE-BASED EMPLOYEE COMPENSATION (Tables)	6 Months Ended
	Sep. 30, 2017
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 2018 are as follows: Fiscal 2018 Dividend Yield 1.3% Expected Volatility 36.3% Risk Free Interest Rate 2.1% Expected Life 6.0 years
Stock Option Activity	The following table represents stock option activity for the six months ended September 30, 2017: Number of Shares Weighted- Average Exercise Price Outstanding Options at Beginning of Period 1,323,379 $ 66.07 Granted 119,986 $ 100.20 Exercised (388,675 ) $ 58.95 Cancelled (16,742 ) $ 78.05 Outstanding Options at End of Period 1,037,948 $ 72.49 Options Exercisable at End of Period 635,676 $ 65.13 Weighted-Average Fair Value of Options Granted during the Period $ 33.37
Stock Options Outstanding	The following table summarizes information about stock options outstanding at September 30, 2017: Outstanding Options Exercisable Options Range of Exercise Prices Number of Shares Outstanding Weighted - Average Remaining Contractual Life Weighted - Average Exercise Price Number of Shares Outstanding Weighted - Average Exercise Price $23.17 – $ 29.84 69,110 3.84 $ 23.47 69,110 $ 23.47 $33.43 – $ 37.34 108,582 4.71 $ 33.93 108,582 $ 33.93 $53.22 – $ 77.67 320,137 7.45 $ 70.94 164,094 $ 69.22 $79.73 – $ 106.00 540,119 7.82 $ 87.43 293,890 $ 84.18 1,037,948 7.11 $ 72.49 635,676 $ 65.13

COMPUTATION OF EARNINGS PER S30

COMPUTATION OF EARNINGS PER SHARE (Tables)	6 Months Ended
	Sep. 30, 2017
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 September 30, For the Six Months Ended September 30, 2017 2016 2017 2016 Weighted-Average Shares of Common Stock Outstanding 48,053,733 47,809,476 48,087,625 47,911,276 Common Equivalent Shares: Assumed Exercise of Outstanding Dilutive Options 1,060,209 864,378 1,159,975 951,783 Less: Shares Repurchased from Assumed Proceeds of Assumed Exercised Options (801,684 ) (600,322 ) (865,203 ) (657,730 ) Restricted Shares 192,509 155,953 197,587 169,787 Weighted-Average Common and Common Equivalent Shares Outstanding 48,504,767 48,229,485 48,579,984 48,375,116 Shares Excluded Due to Anti-dilution Effects 88,729 646,593 76,044 669,406

PENSION AND EMPLOYEE BENEFIT 31

PENSION AND EMPLOYEE BENEFIT PLANS (Tables)	6 Months Ended
	Sep. 30, 2017
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 September 30, For the Six Months ended September 30, 2017 2016 2017 2016 (dollars in thousands) (dollars in thousands) Service Cost – Benefits Earned During the Period $ 153 $ 221 $ 404 $ 443 Interest Cost of Benefit Obligations 357 398 753 797 Expected Return on Plan Assets (578 ) (415 ) (980 ) (831 ) Recognized Net Actuarial Loss 46 426 473 851 Amortization of Prior-Service Cost 60 74 150 149 Net Periodic Pension Cost $ 38 $ 704 $ 800 $ 1,409

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	6 Months Ended
	Sep. 30, 2017
Debt Instrument [Line Items]
Long-Term Debt	Long-term debt consists of the following: As of September 30, 2017 March 31, 2017 (dollars in thousands) Credit Facility $ 195,000 $ 225,000 4.500% Senior Unsecured Notes Due 2026 350,000 350,000 Private Placement Senior Unsecured Notes 117,714 117,714 Total Debt 662,714 692,714 Less: Current Portion of Long-term Debt (81,214 ) (81,214 ) Less: Debt Origination Costs (5,912 ) (6,247 ) Total Long-term Debt $ 575,588 $ 605,253
Schedule of Senior Unsecured Notes Redemption Prices	Beginning on August 1, 2021, we may redeem some or all of the Senior Unsecured Notes at the redemption prices set forth below (expressed as a percentage of the principal amount being redeemed): Percentage 2021 102.25 % 2022 101.50 % 2023 100.75 % 2024 and thereafter 100.00 %
2005 Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Amount Outstanding of Tranches	At September 30, 2017, 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 September 30, 2017, the amounts outstanding for each of the remaining tranches were as follows: Principal Maturity Date Interest Rate 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)	6 Months Ended
	Sep. 30, 2017
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 For the Six Months Ended September 30, Ended September 30, 2017 2016 2017 2016 (dollars in thousands) (dollars in thousands) Revenues - Cement $ 191,650 $ 166,811 $ 374,585 $ 311,603 Gypsum Wallboard 123,068 122,923 249,881 236,185 Paperboard 45,359 44,459 89,772 87,274 Oil and Gas Proppants 22,022 6,631 40,932 11,727 Concrete and Aggregates 43,431 39,140 87,350 73,891 Sub-total 425,530 379,964 842,520 720,680 Less: Intersegment Revenues (23,215 ) (20,331 ) (45,914 ) (38,655 ) Net Revenues, including Joint Venture 402,315 359,633 796,606 682,025 Less: Joint Venture (26,000 ) (26,975 ) (54,170 ) (51,863 ) Net Revenues $ 376,315 $ 332,658 $ 742,436 $ 630,162 For the Three Months For the Six Months Ended September 30, Ended September 30, 2017 2016 2017 2016 (dollars in thousands) (dollars in thousands) Intersegment Revenues - Cement $ 4,654 $ 4,536 $ 9,583 $ 8,071 Paperboard 18,159 15,452 35,516 29,958 Concrete and Aggregates 402 343 815 626 $ 23,215 $ 20,331 $ 45,914 $ 38,655 Cement Sales Volume (in thousands of tons) - Wholly –owned Operations 1,343 1,200 2,611 2,233 Joint Venture 227 242 470 460 1,570 1,442 3,081 2,693 For the Three Months For the Six Months Ended September 30, Ended September 30, 2017 2016 2017 2016 (dollars in thousands) (dollars in thousands) Operating Earnings - Cement $ 58,752 $ 50,716 $ 101,933 $ 82,316 Gypsum Wallboard 39,575 41,698 83,396 81,034 Paperboard 6,517 10,220 11,455 21,447 Oil and Gas Proppants (1,754 ) (4,090 ) (3,780 ) (10,002 ) Concrete and Aggregates 5,619 4,813 11,640 8,497 Sub-total 108,709 103,357 204,644 183,292 Corporate General and Administrative (9,821 ) (8,832 ) (19,500 ) (18,665 ) Other Income 887 504 1,644 1,579 Earnings Before Interest and Income Taxes 99,775 95,029 186,788 166,206 Interest Expense, net (7,456 ) (5,656 ) (14,939 ) (9,557 ) Earnings Before Income Taxes $ 92,319 $ 89,373 $ 171,849 $ 156,649 Cement Operating Earnings - Wholly–owned Operations $ 46,797 $ 38,569 $ 80,102 $ 62,189 Joint Venture 11,955 12,147 21,831 20,127 $ 58,752 $ 50,716 $ 101,933 $ 82,316 Capital Expenditures - Cement $ 13,014 $ 5,009 $ 20,732 $ 10,254 Gypsum Wallboard 5,219 2,097 10,861 3,425 Paperboard 659 400 1,423 1,704 Oil and Gas Proppants 13,781 8 14,360 65 Concrete and Aggregates 1,118 1,506 2,530 2,550 Corporate and Other 140 233 185 233 $ 33,931 $ 9,253 $ 50,091 $ 18,231 Depreciation, Depletion and Amortization - Cement $ 12,662 $ 8,784 $ 25,141 $ 17,395 Gypsum Wallboard 4,473 4,768 8,915 9,530 Paperboard 2,172 2,106 4,309 4,206 Oil and Gas Proppants 8,518 4,261 16,124 9,445 Concrete and Aggregates 1,929 1,920 3,844 3,669 Corporate and Other 552 547 920 1,004 $ 30,306 $ 22,386 $ 59,253 $ 45,249 As of September 30, 2017 March 31, 2017 (dollars in thousands) Identifiable Assets - Cement $ 1,244,725 $ 1,234,617 Gypsum Wallboard 378,927 379,414 Paperboard 123,527 124,356 Oil and Gas Proppants 380,838 376,306 Concrete and Aggregates 107,831 110,413 Corporate and Other 85,193 22,018 $ 2,321,041 $ 2,247,124
Segment Breakdown of Goodwill	The segment breakdown of goodwill is as follows: As of September 30, 2017 March 31, 2017 (dollars in thousands) Cement $ 74,214 $ 74,214 Gypsum Wallboard 116,618 116,618 Paperboard 7,538 7,538 Corporate and Other 6,841 — $ 205,211 $ 198,370
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 Ended September 30, For the Six Months Ended September 30, 2017 2016 2017 2016 (dollars in thousands) (dollars in thousands) Revenues $ 54,000 $ 55,458 $ 111,818 $ 105,334 Gross Margin $ 24,938 $ 25,588 $ 46,251 $ 42,925 Earnings Before Income Taxes $ 23,910 $ 24,294 $ 43,662 $ 40,254 As of September 30, 2017 March 31, 2017 (dollars in thousands) Current Assets $ 68,955 $ 73,767 Non-Current Assets $ 66,473 $ 42,337 Current Liabilities $ 32,718 $ 22,293

INTEREST EXPENSE (Tables)

INTEREST EXPENSE (Tables)	6 Months Ended
	Sep. 30, 2017
Banking And Thrift Interest [Abstract]
Interest Expense, Net	The following components are included in interest expense, net: For the Three Months Ended September 30, For the Six Months Ended September 30, 2017 2016 2017 2016 (dollars in thousands) (dollars in thousands) Interest (Income) $ (3 ) $ (4 ) $ (6 ) $ (4 ) Interest Expense 7,153 5,348 14,329 9,096 Other Expenses 306 312 616 465 Interest Expense, net $ 7,456 $ 5,656 $ 14,939 $ 9,557

FAIR VALUE OF FINANCIAL INSTR35

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Sep. 30, 2017
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 Senior Unsecured Notes and Private Placement Senior Unsecured Notes at September 30, 2017 is as follows: Fair Value (dollars in thousands) Series 2005A Tranche C $ 57,399 Series 2007A Tranche C 24,005 Series 2007A Tranche D 38,609 4.5% Senior Unsecured Notes Due 2026 365,190

FINANCIAL STATEMENTS FOR GUAR36

FINANCIAL STATEMENTS FOR GUARANTORS OF THE 4.500% SENIOR UNSECURED NOTES (Tables)	6 Months Ended
	Sep. 30, 2017
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 September 30, 2017 Parent Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 376,315 $ — $ 376,315 Cost of Goods Sold — 279,561 — 279,561 Gross Profit — 96,754 — 96,754 Equity in Earnings of Unconsolidated Joint Venture 11,955 11,955 (11,955 ) 11,955 Equity in Earnings of Subsidiaries 64,496 — (64,496 ) — Corporate General and Administrative Expenses (9,178 ) (643 ) — (9,821 ) Other Income (Loss) (179 ) 1,066 — 887 Interest Expense, net (13,833 ) 6,377 — (7,456 ) Earnings before Income Taxes 53,261 115,509 (76,451 ) 92,319 Income Taxes 10,101 (39,058 ) — (28,957 ) Net Earnings $ 63,362 $ 76,451 $ (76,451 ) $ 63,362 Net Earnings $ 63,362 $ 76,451 $ (76,451 ) $ 63,362 Net Actuarial Change in Benefit Plans, net of tax 197 197 (197 ) 197 Comprehensive Earnings $ 63,559 $ 76,648 $ (76,648 ) $ 63,559 Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Three Months Ended September 30, 2016 Parent Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 332,658 $ — $ 332,658 Cost of Goods Sold — 241,448 — 241,448 Gross Profit — 91,210 — 91,210 Equity in Earnings of Unconsolidated Joint Venture 12,147 12,147 (12,147 ) 12,147 Equity in Earnings of Subsidiaries 61,469 — (61,469 ) — Corporate General and Administrative Expenses (7,497 ) (1,335 ) — (8,832 ) Other Income (Loss) (137 ) 641 — 504 Interest Expense, net (12,354 ) 6,698 — (5,656 ) Earnings before Income Taxes 53,628 109,361 (73,616 ) 89,373 Income Taxes 6,609 (35,745 ) — (29,136 ) Net Earnings $ 60,237 $ 73,616 $ (73,616 ) 60,237 Net Earnings $ 60,237 $ 73,616 $ (73,616 ) 60,237 Net Actuarial Change in Benefit Plans, net of tax 312 312 (312 ) 312 Comprehensive Earnings $ 60,549 $ 73,928 $ (73,928 ) $ 60,549 Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Six Months Ended September 30, 2017 Parent Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 742,436 $ — $ 742,436 Cost of Goods Sold — 559,623 — 559,623 Gross Profit — 182,813 — 182,813 Equity in Earnings of Unconsolidated Joint Venture 21,831 21,831 (21,831 ) 21,831 Equity in Earnings of Subsidiaries 122,792 — (122,792 ) — Corporate General and Administrative Expenses (17,826 ) (1,674 ) — (19,500 ) Other Income (Loss) (346 ) 1,990 — 1,644 Interest Expense, net (26,795 ) 11,856 — (14,939 ) Earnings before Income Taxes 99,656 216,816 (144,623 ) 171,849 Income Taxes 18,588 (72,193 ) — (53,605 ) Net Earnings $ 118,244 $ 144,623 $ (144,623 ) $ 118,244 Net Earnings $ 118,244 $ 144,623 $ (144,623 ) $ 118,244 Net Actuarial Change in Benefit Plans, net of tax 394 394 (394 ) 394 Comprehensive Earnings $ 118,638 $ 145,017 $ (145,017 ) $ 118,638 Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Six Months Ended September 30, 2016 Parent Guarantor Subsidiaries Eliminations Consolidated Revenues $ — $ 630,162 $ — $ 630,162 Cost of Goods Sold — 466,997 — 466,997 Gross Profit — 163,165 — 163,165 Equity in Earnings of Unconsolidated Joint Venture 20,127 20,127 (20,127 ) 20,127 Equity in Earnings of Subsidiaries 111,172 — (111,172 ) — Corporate General and Administrative Expenses (15,728 ) (2,937 ) — (18,665 ) Other Income (Loss) (214 ) 1,793 — 1,579 Interest Expense, net (22,365 ) 12,808 — (9,557 ) Earnings before Income Taxes 92,992 194,956 (131,299 ) 156,649 Income Taxes 12,589 (63,657 ) — (51,068 ) Net Earnings $ 105,581 $ 131,299 $ (131,299 ) 105,581 Net Earnings $ 105,581 $ 131,299 $ (131,299 ) 105,581 Net Actuarial Change in Benefit Plans, net of tax 624 624 (624 ) 624 Comprehensive Earnings $ 106,205 $ 131,923 $ (131,923 ) $ 106,205
Condensed Consolidating Balance Sheet	Condensed Consolidating Balance Sheet At September 30, 2017 Parent Guarantor Subsidiaries Eliminations Consolidated ASSETS Current Assets - Cash and Cash Equivalents $ 29,062 $ 1,994 $ — $ 31,056 Accounts and Notes Receivable 396 168,729 — 169,125 Inventories — 239,189 — 239,189 Prepaid and Other Current Assets 595 6,845 — 7,440 Total Current Assets 30,053 416,757 — 446,810 Property, Plant and Equipment - 3,099 2,512,238 — 2,515,337 Less: Accumulated Depreciation (999 ) (945,935 ) — (946,934 ) Property, Plant and Equipment, net 2,100 1,566,303 — 1,568,403 Notes Receivable — 476 — 476 Investment in Joint Venture 61 52,899 — 52,960 Investments in Subsidiaries and Receivables from Affiliates 5,415,507 3,446,701 (8,862,208 ) — Goodwill and Intangible Assets, net — 240,947 — 240,947 Other Assets 5,521 5,924 — 11,445 $ 5,453,242 $ 5,730,007 $ (8,862,208 ) $ 2,321,041 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities- Accounts Payable $ 6,067 $ 73,127 $ — $ 79,194 Accrued Liabilities 19,787 40,001 — 59,788 Income Tax Payable 1,211 — — 1,211 Current Portion of Long-term Debt 81,214 — — 81,214 Total Current Liabilities 108,279 113,128 — 221,407 Long-term Debt 575,588 — — 575,588 Other Long-term Liabilities 157 43,881 — 44,038 Payables to Affiliates 3,446,701 2,970,110 (6,416,811 ) — Deferred Income Taxes 9,844 157,491 — 167,335 Total Liabilities 4,140,569 3,284,610 (6,416,811 ) 1,008,368 Total Stockholders’ Equity 1,312,673 2,445,397 (2,445,397 ) 1,312,673 $ 5,453,242 $ 5,730,007 $ (8,862,208 ) $ 2,321,041 Condensed Consolidating Balance Sheet At March 31, 2017 Parent Guarantor Subsidiaries Eliminations Consolidated ASSETS Current Assets - Cash and Cash Equivalents $ 5,184 $ 1,377 $ — $ 6,561 Accounts and Notes Receivable 422 135,891 — 136,313 Inventories — 252,846 — 252,846 Income Tax Receivable 33,196 — (33,196 ) — Prepaid and Other Current Assets 484 4,420 — 4,904 Total Current Assets 39,286 394,534 (33,196 ) 400,624 Property, Plant and Equipment - 2,914 2,436,524 — 2,439,438 Less: Accumulated Depreciation (937 ) (891,664 ) — (892,601 ) Property, Plant and Equipment, net 1,977 1,544,860 — 1,546,837 Notes Receivable — 815 — 815 Investment in Joint Venture 51 48,569 — 48,620 Investments in Subsidiaries and Receivables from Affiliates 5,126,289 3,252,309 (8,378,598 ) — Goodwill and Intangible Assets, net — 235,505 — 235,505 Other Assets 5,687 9,036 — 14,723 $ 5,173,290 $ 5,485,628 $ (8,411,794 ) $ 2,247,124 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities- Accounts Payable $ 6,687 $ 85,506 $ — $ 92,193 Accrued Liabilities 21,043 34,336 — 55,379 Income Tax Payable 733 33,196 (33,196 ) 733 Current Portion of Long-term Debt 81,214 — — 81,214 Total Current Liabilities 109,677 153,038 (33,196 ) 229,519 Long-term Debt 605,253 — — 605,253 Other Long-term Liabilities 189 42,689 — 42,878 Payables to Affiliates 3,252,309 2,825,710 (6,078,019 ) — Deferred Income Taxes 2,412 163,612 — 166,024 Total Liabilities 3,969,840 3,185,049 (6,111,215 ) 1,043,674 Total Stockholders’ Equity 1,203,450 2,300,579 (2,300,579 ) 1,203,450 $ 5,173,290 $ 5,485,628 $ (8,411,794 ) $ 2,247,124
Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows Six Months ended September 30, 2017 Parent Guarantor Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES Net Cash Provided by Operating Activities $ 21,447 $ 131,301 $ — $ 152,748 CASH FLOWS FROM INVESTING ACTIVITIES Property, Plant and Equipment Additions — (44,851 ) — (44,851 ) Acquisition Spending — (36,761 ) — (36,761 ) Net Cash Used in Investing Activities — (81,612 ) — (81,612 ) CASH FLOWS FROM FINANCING ACTIVITIES Decrease in Credit Facility (30,000 ) — — (30,000 ) Dividends Paid to Stockholders (9,709 ) — — (9,709 ) Purchase and Retirement of Common Stock (24,903 ) — — (24,903 ) Proceeds from Stock Option Exercises 20,426 — — 20,426 Shares Redeemed to Settle Employee Taxes on Stock Compensation (2,455 ) — — (2,455 ) Intra-entity Activity, net 49,072 (49,072 ) — — Net Cash Provided by (Used in) Financing Activities 2,431 (49,072 ) — (46,641 ) NET INCREASE IN CASH AND CASH EQUIVALENTS 23,878 617 — 24,495 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 5,184 1,377 — 6,561 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 29,062 $ 1,994 $ — $ 31,056 Condensed Consolidating Statement of Cash Flows Six Months ended September 30, 2016 Parent Guarantor Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES Net Cash Provided by (Used in) Operating Activities $ (78,298 ) $ 238,450 $ — $ 160,152 CASH FLOWS FROM INVESTING ACTIVITIES Property, Plant and Equipment Additions (233 ) (17,998 ) — (18,231 ) Net Cash Used in Investing Activities (233 ) (17,998 ) — (18,231 ) CASH FLOWS FROM FINANCING ACTIVITIES Decrease in Credit Facility (382,000 ) — — (382,000 ) Issuance of Long-term Debt 350,000 — — 350,000 Payment of Debt Issuance Costs (6,637 ) — — (6,637 ) Dividends Paid to Stockholders (9,677 ) — — (9,677 ) Shares Redeemed to Settle Employee Taxes on Stock Compensation (2,965 ) — — (2,965 ) Purchase and Retirement of Common Stock (60,013 ) — — (60,013 ) Proceed from Stock Option Exercises 12,992 — — 12,992 Excess Tax Benefits from Share Based Payment Arrangements 5,494 — — 5,494 Intra-entity Activity, net 220,354 (220,354 ) — — Net Cash Provided by (Used in) Financing Activities 127,548 (220,354 ) — (92,806 ) NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 49,017 98 — 49,115 CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD 3,507 1,884 — 5,391 CASH AND CASH EQUIVALENTS AT END OF PERIOD $ 52,524 $ 1,982 $ — $ 54,506

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail)	6 Months Ended
	Sep. 30, 2017USD ($)
Significant Accounting Policies [Line Items]
Increase in gross profit	$ 400,000
Decrease in other income	(400,000)
ASU 2016-09 [Member]
Significant Accounting Policies [Line Items]
Cumulative effect reduction in retained earnings	(700,000)
Impact to retained earnings	0
Recognition of excess tax benefits in provision for income taxes	$ 2,700,000

Acquisition - Additional Inform

Acquisition - Additional Information (Detail) - USD ($) $ in Thousands	Jul. 27, 2017	Feb. 10, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Mar. 31, 2017
Business Acquisition [Line Items]
Operating earnings			$ 108,709	$ 103,357	$ 204,644	$ 183,292
Purchase price paid for business acquisition					36,761
Goodwill			205,211		$ 205,211		$ 198,370
Fairborn Acquisition [Member]
Business Acquisition [Line Items]
Business acquisition, date of acquisition					Feb. 10, 2017
Business acquisition purchase price		$ 400,500
Depreciation and amortization					$ 7,200
Operating earnings			$ 7,855		13,833
Direct acquisition cost							$ 5,500
Property and equipment		314,897
Goodwill		$ 64,485
Fairborn Acquisition [Member] | Fair Value Adjustment to Inventory [Member]
Business Acquisition [Line Items]
Operating earnings					$ 600
Wildcat Minerals LLC [Member]
Business Acquisition [Line Items]
Business acquisition, effective date of acquisition					Jul. 27, 2017
Purchase price paid for business acquisition	$ 36,800
Current assets	3,100
Property and equipment	28,300
Intangible and other assets	1,400
Current liabilities	2,800
Goodwill	$ 6,800

Components of Purchase Price Al

Components of Purchase Price Allocation (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017	Feb. 10, 2017
Business Acquisition [Line Items]
Intangible Assets	$ 10,000
Goodwill	$ 205,211	$ 198,370
Fairborn Acquisition [Member]
Business Acquisition [Line Items]
Inventories			$ 11,106
Property and Equipment			314,897
Intangible Assets			10,000
Other Assets			4,000
Asset Retirement Obligation			(4,000)
Total Net Assets			336,003
Goodwill			64,485
Total Estimated Purchase Price			$ 400,488

Summary of Fair Value Estimates

Summary of Fair Value Estimates of Identifiable Intangible Assets and Weighted-Average Useful Lives (Detail) $ in Thousands	6 Months Ended
	Sep. 30, 2017USD ($)
Acquired Finite Lived Intangible Assets [Line Items]
Estimated Fair Value	$ 10,000
Customer Relationships [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Weighted Average Life	15 years
Estimated Fair Value	$ 9,000
Permits [Member]
Acquired Finite Lived Intangible Assets [Line Items]
Weighted Average Life	40 years
Estimated Fair Value	$ 1,000

Net Sales and Operating Earning

Net Sales and Operating Earnings Related to Fairborn Acquisition (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Business Acquisition Pro Forma Information Nonrecurring Adjustment [Line Items]
Revenues	$ 376,315	$ 332,658	$ 742,436	$ 630,162
Operating Earnings	108,709	$ 103,357	204,644	$ 183,292
Fairborn Acquisition [Member]
Business Acquisition Pro Forma Information Nonrecurring Adjustment [Line Items]
Revenues	25,266		47,421
Operating Earnings	$ 7,855		$ 13,833

Unaudited Pro Forma Results (De

Unaudited Pro Forma Results (Detail) - Fairborn Acquisition [Member] - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
Business Acquisition [Line Items]
Revenues	$ 356,846	$ 677,532
Net Income	$ 63,471	$ 111,336
Earnings per share – basis	$ 1.33	$ 2.32
Earnings per share - diluted	$ 1.32	$ 2.30

Cash Flow Information - Suppl43

Cash Flow Information - Supplemental - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Supplemental Cash Flow Elements [Abstract]
Cash payments made for interest	$ 14.6	$ 6.8
Net payments made for federal and state income taxes	52.4	$ 39.3
Non-cash investing activities related to fixed asset additions	$ 5.2

Accounts and Notes Receivable -

Accounts and Notes Receivable - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2017	Mar. 31, 2017
Receivables [Abstract]
Allowance for doubtful accounts	$ 10.9	$ 10.7
Notes receivable, total	2.8
Notes receivable, current	$ 2.3
Notes receivable interest rate	3.50%
Notes receivable, maturity year	Remaining unpaid amounts, plus accrued interest, mature in fiscal 2018 and 2021.

Summary of Change in Stockholde

Summary of Change in Stockholder's Equity (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Stockholders Equity Note [Line Items]
Balance at Beginning of Period			$ 1,203,450
Net Earnings	$ 63,362	$ 60,237	118,244	$ 105,581
Balance at End of Period	1,312,673		1,312,673
Common Stock [Member]
Stockholders Equity Note [Line Items]
Balance at Beginning of Period			485
Issuance of Restricted Stock			1
Purchase and Retirement of Common Stock			(1)
Stock Option Exercises			1
Balance at End of Period	486		486
Capital in Excess of Par Value [Member]
Stockholders Equity Note [Line Items]
Balance at Beginning of Period			149,014
Stock Compensation Expense			7,235
Cumulative Impact of the Adoption of ASU 2016-09			713
Shares Redeemed to Settle Employee Taxes			(2,455)
Purchase and Retirement of Common Stock			(24,902)
Stock Option Exercises			20,424
Balance at End of Period	150,029		150,029
Retained Earnings [Member]
Stockholders Equity Note [Line Items]
Balance at Beginning of Period			1,061,347
Dividends Declared to Stockholders			(9,718)
Cumulative Impact of the Adoption of ASU 2016-09			(713)
Net Earnings			118,244
Balance at End of Period	1,169,160		1,169,160
Accumulated Other Comprehensive Loss [Member]
Stockholders Equity Note [Line Items]
Balance at Beginning of Period			(7,396)
Change in Funded Status of Pension Plan, net of tax			394
Balance at End of Period	$ (7,002)		$ (7,002)

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail)	6 Months Ended
	Sep. 30, 2017$ / sharesshares
Equity [Abstract]
Repurchase of shares	272,772
Shares repurchased average price | $ / shares	$ 91.31
Stock repurchase remaining number of shares authorized to be repurchased	4,544,428

Schedule of Inventories (Detail

Schedule of Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Inventory [Line Items]
Inventories	$ 239,189	$ 252,846
Raw Materials and Material-in-Progress [Member]
Inventory [Line Items]
Inventories	111,355	122,736
Finished Cement [Member]
Inventory [Line Items]
Inventories	22,185	24,428
Gypsum Wallboard [Member]
Inventory [Line Items]
Inventories	7,668	7,951
Paperboard [Member]
Inventory [Line Items]
Inventories	8,738	8,635
Frac Sand [Member]
Inventory [Line Items]
Inventories	2,239	2,907
Aggregates [Member]
Inventory [Line Items]
Inventories	7,553	7,686
Repair Parts and Supplies [Member]
Inventory [Line Items]
Inventories	73,851	73,732
Fuel and Coal [Member]
Inventory [Line Items]
Inventories	$ 5,600	$ 4,771

Schedule of Accrued Expenses (D

Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Accounts Payable And Accrued Liabilities Current [Abstract]
Payroll and Incentive Compensation	$ 19,850	$ 22,850
Benefits	13,433	11,503
Interest	5,791	5,992
Property Taxes	7,332	4,759
Power and Fuel	1,672	1,536
Sales and Use Tax	1,287	2,459
Legal	1,606	944
Acquisition Related Expenses		350
Other	8,817	4,986
Accrued expenses, total	$ 59,788	$ 55,379

Share-Based Employee Compensa49

Share-Based Employee Compensation - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended		3 Months Ended		6 Months Ended
	Aug. 31, 2017	May 31, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Aug. 07, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant			4,144,352		4,144,352		3,000,000
Stock option expense			$ 1.3	$ 1.8	$ 2.2	$ 3
Aggregate intrinsic value for outstanding options			35.5		35.5
Aggregate intrinsic value of exercisable options			26.4		26.4
Total intrinsic value of options exercised					16.2
Restricted stock or unit expense			2.5	$ 1.8	$ 5	$ 3.2
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		58,055
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 2018 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, 2018. 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, 2019
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, 2021
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		48,379
Share-based compensation vesting period		4 years
Board of Directors Stock Option [Member] | Long Term Compensation Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant	6,052
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost, stock options			$ 8.9		$ 8.9
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		52,646
Share-based compensation vesting period		4 years
Stock based compensation plan, description					The performance criterion for the Fiscal 2018 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, 2018. 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, 2019
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, 2021
Time Vesting Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant		43,874
Share-based compensation vesting period		4 years
Time Vesting Restricted Stock [Member] | Board of Director [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation vesting period		6 months
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant	11,444
Share-based compensation vesting period	6 months
Weighted-average period of recognition of unrecognized compensation cost					2 years 7 months 6 days
Unrecognized compensation cost			$ 22.4		$ 22.4

Weighted-Average Assumptions Us

Weighted-Average Assumptions Used to Value Option Awards (Detail) - Long Term Compensation Plan [Member] - Stock Options [Member]	6 Months Ended
	Sep. 30, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend Yield	1.30%
Expected Volatility	36.30%
Risk Free Interest Rate	2.10%
Expected Life	6 years

Stock Option Activity (Detail)

Stock Option Activity (Detail)	6 Months Ended
	Sep. 30, 2017$ / sharesshares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Shares, Outstanding Options at Beginning of Period | shares	1,323,379
Number of Shares, Granted | shares	119,986
Number of Shares, Exercised | shares	(388,675)
Number of Shares, Cancelled | shares	(16,742)
Number of Shares, Outstanding Options at End of Period | shares	1,037,948
Number of Shares, Options Exercisable at End of Period | shares	635,676
Weighted Average Fair Value of Options Granted during the Period	$ 33.37
Weighted-Average Exercise Price, Outstanding Options at Beginning of Period	66.07
Weighted-Average Exercise Price, Granted	100.20
Weighted-Average Exercise Price, Exercised	58.95
Weighted-Average Exercise Price, Cancelled	78.05
Weighted-Average Exercise Price, Outstanding Options at End of Period	72.49
Weighted-Average Exercise Price, Options Exercisable at End of Period	$ 65.13

Stock Options Outstanding (Deta

Stock Options Outstanding (Detail)	6 Months Ended
	Sep. 30, 2017$ / sharesshares
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Outstanding Options, Number of Shares Outstanding | shares	1,037,948
Outstanding Options, Weighted-Average Remaining Contractual Life	7 years 1 month 10 days
Outstanding Options, Weighted-Average Exercise Price	$ 72.49
Exercisable Options, Number of Shares Outstanding | shares	635,676
Exercisable Options, Weighted-Average Exercise Price	$ 65.13
$23.17 - $29.84 [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	$ 29.84
Outstanding Options, Number of Shares Outstanding | shares	69,110
Outstanding Options, Weighted-Average Remaining Contractual Life	3 years 10 months 3 days
Outstanding Options, Weighted-Average Exercise Price	$ 23.47
Exercisable Options, Number of Shares Outstanding | shares	69,110
Exercisable Options, Weighted-Average Exercise Price	$ 23.47
$33.43 - $ 37.34 [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	$ 37.34
Outstanding Options, Number of Shares Outstanding | shares	108,582
Outstanding Options, Weighted-Average Remaining Contractual Life	4 years 8 months 16 days
Outstanding Options, Weighted-Average Exercise Price	$ 33.93
Exercisable Options, Number of Shares Outstanding | shares	108,582
Exercisable Options, Weighted-Average Exercise Price	$ 33.93
$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	320,137
Outstanding Options, Weighted-Average Remaining Contractual Life	7 years 5 months 12 days
Outstanding Options, Weighted-Average Exercise Price	$ 70.94
Exercisable Options, Number of Shares Outstanding | shares	164,094
Exercisable Options, Weighted-Average Exercise Price	$ 69.22
$79.73 - $ 106.00 [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	$ 106
Outstanding Options, Number of Shares Outstanding | shares	540,119
Outstanding Options, Weighted-Average Remaining Contractual Life	7 years 9 months 25 days
Outstanding Options, Weighted-Average Exercise Price	$ 87.43
Exercisable Options, Number of Shares Outstanding | shares	293,890
Exercisable Options, Weighted-Average Exercise Price	$ 84.18

Calculation of Basic and Dilute

Calculation of Basic and Diluted Common Shares Outstanding (Detail) - shares	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Earnings Per Share [Abstract]
Weighted-Average Shares of Common Stock Outstanding	48,053,733	47,809,476	48,087,625	47,911,276
Assumed Exercise of Outstanding Dilutive Options	1,060,209	864,378	1,159,975	951,783
Less: Shares Repurchased from Assumed Proceeds of Assumed Exercised Options	(801,684)	(600,322)	(865,203)	(657,730)
Restricted Shares	192,509	155,953	197,587	169,787
Weighted-Average Common and Common Equivalent Shares Outstanding	48,504,767	48,229,485	48,579,984	48,375,116
Shares Excluded Due to Anti-dilution Effects	88,729	646,593	76,044	669,406

Components of Net Periodic Cost

Components of Net Periodic Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Compensation And Retirement Disclosure [Abstract]
Service Cost – Benefits Earned During the Period	$ 153	$ 221	$ 404	$ 443
Interest Cost of Benefit Obligations	357	398	753	797
Expected Return on Plan Assets	(578)	(415)	(980)	(831)
Recognized Net Actuarial Loss	46	426	473	851
Amortization of Prior-Service Cost	60	74	150	149
Net Periodic Pension Cost	$ 38	$ 704	$ 800	$ 1,409

Pension and Employee Benefit 55

Pension and Employee Benefit Plans - Additional Information (Detail) $ in Millions	Sep. 30, 2017USD ($)
Compensation And Retirement Disclosure [Abstract]
Anticipated contributions to pension plans during fiscal third quarter	$ 8.5

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Income Tax [Line Items]
Effective tax rate	31.00%	33.00%
ASU 2016-09 [Member]
Income Tax [Line Items]
Recognition of excess tax benefits in provision for income taxes	$ 2.7

Long-Term Debt (Detail)

Long-Term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Debt Instrument [Line Items]
Credit Facility	$ 195,000	$ 225,000
Total Debt	662,714	692,714
Less: Current Portion of Long-term Debt	(81,214)	(81,214)
Less: Debt Origination Costs	(5,912)	(6,247)
Total Long-term Debt	575,588	605,253
4.500% Senior Unsecured Notes Due 2026 [Member]
Debt Instrument [Line Items]
Total Debt	350,000	350,000
Private Placement Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Total Debt	$ 117,714	$ 117,714

Long-Term Debt (Parenthetical)

Long-Term Debt (Parenthetical) (Detail) - 4.500% Senior Unsecured Notes Due 2026 [Member]	6 Months Ended
	Sep. 30, 2017	Aug. 02, 2016
Debt Instrument [Line Items]
Debt instrument, interest rate	4.50%	4.50%
Debt instrument, maturity year	2,026

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail)	Aug. 02, 2016USD ($)	Oct. 31, 2014	Oct. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Mar. 31, 2017USD ($)	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				$ 195,000,000	$ 225,000,000
Bank Credit Facility, borrowings available				295,600,000
Letter of Credit Facility				40,000,000
Letters of credit outstanding, amount				$ 9,400,000
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 [Member] | Minimum [Member]
Debt Instrument [Line Items]
Variable margin		0.00%
Federal Funds Effective Swap Rate [Member] | Maximum [Member]
Debt Instrument [Line Items]
Variable margin		1.25%
4.500% Senior Unsecured Notes Due 2026 [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 350,000,000
Debt instrument, interest rate	4.50%			4.50%
Debt instrument, maturity period	2026-08
4.500% Senior Unsecured Notes Due 2026 [Member] | Prior to August 1, 2019 [Member]
Debt Instrument [Line Items]
Redemption price, percentage	104.50%
4.500% Senior Unsecured Notes Due 2026 [Member] | On or After August 1, 2019 and Prior to August 1, 2021 [Member]
Debt Instrument [Line Items]
Redemption price, percentage	100.00%
4.500% Senior Unsecured Notes Due 2026 [Member] | Maximum [Member] | Prior to August 1, 2019 [Member]
Debt Instrument [Line Items]
Percentage of principal amount redeemable	40.00%
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]
Debt instrument, principal amount				$ 57,200,000
Debt instrument, interest rate				5.48%
Senior Notes, payment terms				Interest for this tranche of Series 2005A Senior Unsecured Notes is payable semi-annually on May 15 and 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 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 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.
2007 Note Purchase Agreement [Member] | Series 2007A Tranche C [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount				$ 24,000,000
Debt instrument, interest rate				6.36%
2007 Note Purchase Agreement [Member] | Series 2007A Tranche C [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Repayments of debt			$ 24,000,000
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] | Maximum [Member]
Debt Instrument [Line Items]
Consolidated funded indebtedness ratio				350.00%
Private Placement Senior Unsecured Notes [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 Unsecured Notes being prepaid at a discount rate equal to the sum of 50 basis
Discount on Senior Notes principal and interest				0.50%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility, principal balance				$ 500,000,000
Credit Facility, termination date				Aug. 2, 2021
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.
Revolving Credit Facility [Member] | Swingline Loan [Member]
Debt Instrument [Line Items]
Credit Facility, principal balance				$ 25,000,000
Line of Credit | Federal Funds Effective Swap Rate [Member] | 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%

Schedule of Senior Unsecured No

Schedule of Senior Unsecured Notes Redemption Prices (Detail) - 4.500% Senior Unsecured Notes Due 2026 [Member]	6 Months Ended
	Sep. 30, 2017
2021 [Member]
Debt Instrument Redemption [Line Items]
Redemption price, percentage	102.25%
2022 [Member]
Debt Instrument Redemption [Line Items]
Redemption price, percentage	101.50%
2023 [Member]
Debt Instrument Redemption [Line Items]
Redemption price, percentage	100.75%
2024 and Thereafter [Member]
Debt Instrument Redemption [Line Items]
Redemption price, percentage	100.00%

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	6 Months Ended
	Sep. 30, 2017USD ($)
Debt Instrument [Line Items]
Principal	$ 57.2
Maturity Date	Nov. 15, 2017
Interest Rate	5.48%

Amount Outstanding of Tranche62

Amount Outstanding of Tranches - Two Thousand Seven Note Purchase Agreement (Detail) - 2007 Note Purchase Agreement [Member] $ in Millions	6 Months Ended
	Sep. 30, 2017USD ($)
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)	6 Months Ended
	Sep. 30, 2017LocationFacilityTerminalPlantSegmentCenterJointVentures
Segment Reporting Information [Line Items]
Number of operating business segments | Segment	5
Cement plant locations | Location	7
Slag grinding facility | Facility	1
Cement distribution terminals | Terminal	17
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
Number of frac sand distribution centers | Center	11
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		6 Months Ended
	Sep. 30, 2017USD ($)kT	Sep. 30, 2016USD ($)kT	Sep. 30, 2017USD ($)kT	Sep. 30, 2016USD ($)kT	Mar. 31, 2017USD ($)
Segment Reporting Information [Line Items]
Revenues	$ 376,315	$ 332,658	$ 742,436	$ 630,162
Net Revenues, including Joint Venture	402,315	359,633	796,606	682,025
Less: Joint Venture	(26,000)	(26,975)	(54,170)	(51,863)
Operating Earnings	108,709	103,357	204,644	183,292
Corporate General and Administrative	(9,821)	(8,832)	(19,500)	(18,665)
Other Income	887	504	1,644	1,579
Earnings Before Interest and Income Taxes	99,775	95,029	186,788	166,206
Interest Expense, Net	(7,456)	(5,656)	(14,939)	(9,557)
Earnings Before Income Taxes	92,319	89,373	171,849	156,649
Capital Expenditures	33,931	9,253	50,091	18,231
Depreciation, Depletion and Amortization	30,306	22,386	59,253	45,249
Identifiable Assets	2,321,041		2,321,041		$ 2,247,124
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	425,530	379,964	842,520	720,680
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	(23,215)	(20,331)	(45,914)	(38,655)
Cement [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	$ 191,650	$ 166,811	$ 374,585	$ 311,603
Cement Sales Volume | kT	1,570	1,442	3,081	2,693
Operating Earnings	$ 58,752	$ 50,716	$ 101,933	$ 82,316
Capital Expenditures	13,014	5,009	20,732	10,254
Depreciation, Depletion and Amortization	12,662	$ 8,784	25,141	$ 17,395
Identifiable Assets	$ 1,244,725		$ 1,244,725		1,234,617
Cement [Member] | Operating Segments [Member] | Joint Venture [Member]
Segment Reporting Information [Line Items]
Cement Sales Volume | kT	227	242	470	460
Operating Earnings	$ 11,955	$ 12,147	$ 21,831	$ 20,127
Cement [Member] | Operating Segments [Member] | Wholly-Owned [Member]
Segment Reporting Information [Line Items]
Cement Sales Volume | kT	1,343	1,200	2,611	2,233
Operating Earnings	$ 46,797	$ 38,569	$ 80,102	$ 62,189
Cement [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	(4,654)	(4,536)	(9,583)	(8,071)
Gypsum Wallboard [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	123,068	122,923	249,881	236,185
Operating Earnings	39,575	41,698	83,396	81,034
Capital Expenditures	5,219	2,097	10,861	3,425
Depreciation, Depletion and Amortization	4,473	4,768	8,915	9,530
Identifiable Assets	378,927		378,927		379,414
Paperboard [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	45,359	44,459	89,772	87,274
Operating Earnings	6,517	10,220	11,455	21,447
Capital Expenditures	659	400	1,423	1,704
Depreciation, Depletion and Amortization	2,172	2,106	4,309	4,206
Identifiable Assets	123,527		123,527		124,356
Paperboard [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	(18,159)	(15,452)	(35,516)	(29,958)
Oil and Gas Proppants [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	22,022	6,631	40,932	11,727
Operating Earnings	(1,754)	(4,090)	(3,780)	(10,002)
Capital Expenditures	13,781	8	14,360	65
Depreciation, Depletion and Amortization	8,518	4,261	16,124	9,445
Identifiable Assets	380,838		380,838		376,306
Concrete and Aggregates [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues	43,431	39,140	87,350	73,891
Operating Earnings	5,619	4,813	11,640	8,497
Capital Expenditures	1,118	1,506	2,530	2,550
Depreciation, Depletion and Amortization	1,929	1,920	3,844	3,669
Identifiable Assets	107,831		107,831		110,413
Concrete and Aggregates [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	(402)	(343)	(815)	(626)
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Capital Expenditures	140	233	185	233
Depreciation, Depletion and Amortization	552	$ 547	920	$ 1,004
Identifiable Assets	$ 85,193		$ 85,193		$ 22,018

Segment Breakdown of Goodwill (

Segment Breakdown of Goodwill (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017
Segment Reporting Information [Line Items]
Goodwill	$ 205,211	$ 198,370
Cement [Member]
Segment Reporting Information [Line Items]
Goodwill	74,214	74,214
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
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Goodwill	$ 6,841

Summarized Financial Informatio

Summarized Financial Information for Joint Venture Unconsolidated (Detail) - Joint Venture [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Mar. 31, 2017
Related Party Transaction [Line Items]
Revenues	$ 54,000	$ 55,458	$ 111,818	$ 105,334
Gross Margin	24,938	25,588	46,251	42,925
Earnings Before Income Taxes	23,910	$ 24,294	43,662	$ 40,254
Current Assets	68,955		68,955		$ 73,767
Non-Current Assets	66,473		66,473		42,337
Current Liabilities	$ 32,718		$ 32,718		$ 22,293

Interest Expense, Net (Detail)

Interest Expense, Net (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Interest Income (Expense), Net [Abstract]
Interest (Income)	$ (3)	$ (4)	$ (6)	$ (4)
Interest Expense	7,153	5,348	14,329	9,096
Other Expenses	306	312	616	465
Interest Expense, net	$ 7,456	$ 5,656	$ 14,939	$ 9,557

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Jul. 28, 2016	Jun. 16, 2016	Jan. 31, 2017	Sep. 30, 2017	Mar. 31, 2014
Commitments And Contingencies [Line Items]
Letters of credit outstanding, amount				$ 9,400,000
Outstanding guarantees				0
Contingently liable for performance, current				$ 21,100,000
USG Corporation and United States Gypsum [Member]
Commitments And Contingencies [Line Items]
Litigation settlement amount					$ 48,000,000
Temple Inland Inc. [Member]
Commitments And Contingencies [Line Items]
Litigation settlement amount					$ 7,000,000
Lafarge North America [Member] | Direct Purchaser Class [Member]
Commitments And Contingencies [Line Items]
Litigation settlement amount		$ 23,000,000
Lafarge North America [Member] | Indirect Purchaser Class [Member]
Commitments And Contingencies [Line Items]
Litigation settlement amount	$ 5,200,000
NCC [Member]
Commitments And Contingencies [Line Items]
Payment of penalty to reduce nitrous oxide emissions			$ 600,000
Installation of emission control equipment and vehicle replacement period			2 years
Anticipated cost of investment for new emission control equipment and vehicles			$ 3,000,000
EPA notice of violation description				In January 2017, NCC entered into a Consent Decree in which NCC agreed to install at its Fernley, Nevada plant certain emission control equipment (selective non-catalytic reduction) to reduce nitrous oxide emissions and to pay a penalty of $0.6 million. NCC also agreed to replace two existing vehicles with two new vehicles with more efficient Tier 4 engines. Under the terms of the Consent Decree, NCC will complete the installation of the emission control equipment and vehicle replacement in approximately 2 years. It is anticipated that the investment in the new emission control equipment and vehicles will cost approximately $3.0 million. In the Consent Decree NCC denies all allegations set forth in the NOVs and the Complaint which was filed simultaneously with the entry of the Consent Decree, and the Consent Decree resolves all such claims by the government. The Consent Decree was signed by the EPA and the US Department of Justice and lodged in US District Court for the District of Nevada in May 2017. On October 4, 2017, the Consent Decree was entered by the Court and NCC paid the penalty in early October.

Fair Value of Senior Notes (Det

Fair Value of Senior Notes (Detail) $ in Thousands	Sep. 30, 2017USD ($)
Series 2005A Tranche C [Member]
Fair Value Of Financial Instruments [Line Items]
Fair Value of Senior Notes	$ 57,399
Series 2007A Tranche C [Member]
Fair Value Of Financial Instruments [Line Items]
Fair Value of Senior Notes	24,005
Series 2007A Tranche D [Member]
Fair Value Of Financial Instruments [Line Items]
Fair Value of Senior Notes	38,609
4.5% Senior Unsecured Notes Due 2026 [Member]
Fair Value Of Financial Instruments [Line Items]
Fair Value of Senior Notes	$ 365,190

Fair Value of Senior Notes (Par

Fair Value of Senior Notes (Parenthetical) (Detail) - 4.5% Senior Unsecured Notes Due 2026 [Member]	6 Months Ended
	Sep. 30, 2017
Fair Value Of Financial Instruments [Line Items]
Debt instrument, interest rate	4.50%
Debt instrument, maturity year	2,026

Condensed Consolidating Stateme

Condensed Consolidating Statement of Earnings and Comprehensive Earnings (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues	$ 376,315	$ 332,658	$ 742,436	$ 630,162
Cost of Goods Sold	279,561	241,448	559,623	466,997
Gross Profit	96,754	91,210	182,813	163,165
Equity in Earnings of Unconsolidated Joint Venture	11,955	12,147	21,831	20,127
Corporate General and Administrative Expenses	(9,821)	(8,832)	(19,500)	(18,665)
Other Income (Loss)	887	504	1,644	1,579
Interest Expense, net	(7,456)	(5,656)	(14,939)	(9,557)
Earnings Before Income Taxes	92,319	89,373	171,849	156,649
Income Taxes	(28,957)	(29,136)	(53,605)	(51,068)
Net Earnings	63,362	60,237	118,244	105,581
Net Actuarial Change in Benefit Plans, net of tax	197	312	394	624
Comprehensive Earnings	63,559	60,549	118,638	106,205
Eliminations [Member]
Equity in Earnings of Unconsolidated Joint Venture	(11,955)	(12,147)	(21,831)	(20,127)
Equity in Earnings of Subsidiaries	(64,496)	(61,469)	(122,792)	(111,172)
Earnings Before Income Taxes	(76,451)	(73,616)	(144,623)	(131,299)
Net Earnings	(76,451)	(73,616)	(144,623)	(131,299)
Net Actuarial Change in Benefit Plans, net of tax	(197)	(312)	(394)	(624)
Comprehensive Earnings	(76,648)	(73,928)	(145,017)	(131,923)
Parent [Member]
Equity in Earnings of Unconsolidated Joint Venture	11,955	12,147	21,831	20,127
Equity in Earnings of Subsidiaries	64,496	61,469	122,792	111,172
Corporate General and Administrative Expenses	(9,178)	(7,497)	(17,826)	(15,728)
Other Income (Loss)	(179)	(137)	(346)	(214)
Interest Expense, net	(13,833)	(12,354)	(26,795)	(22,365)
Earnings Before Income Taxes	53,261	53,628	99,656	92,992
Income Taxes	10,101	6,609	18,588	12,589
Net Earnings	63,362	60,237	118,244	105,581
Net Actuarial Change in Benefit Plans, net of tax	197	312	394	624
Comprehensive Earnings	63,559	60,549	118,638	106,205
Guarantor Subsidiaries [Member]
Revenues	376,315	332,658	742,436	630,162
Cost of Goods Sold	279,561	241,448	559,623	466,997
Gross Profit	96,754	91,210	182,813	163,165
Equity in Earnings of Unconsolidated Joint Venture	11,955	12,147	21,831	20,127
Corporate General and Administrative Expenses	(643)	(1,335)	(1,674)	(2,937)
Other Income (Loss)	1,066	641	1,990	1,793
Interest Expense, net	6,377	6,698	11,856	12,808
Earnings Before Income Taxes	115,509	109,361	216,816	194,956
Income Taxes	(39,058)	(35,745)	(72,193)	(63,657)
Net Earnings	76,451	73,616	144,623	131,299
Net Actuarial Change in Benefit Plans, net of tax	197	312	394	624
Comprehensive Earnings	$ 76,648	$ 73,928	$ 145,017	$ 131,923

Condensed Consolidating Balance

Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Sep. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Mar. 31, 2016
Current Assets -
Cash and Cash Equivalents	$ 31,056	$ 6,561	$ 54,506	$ 5,391
Accounts and Notes Receivable	169,125	136,313
Inventories	239,189	252,846
Prepaid and Other Current Assets	7,440	4,904
Total Current Assets	446,810	400,624
Property, Plant and Equipment -	2,515,337	2,439,438
Less: Accumulated Depreciation	(946,934)	(892,601)
Property, Plant and Equipment, net	1,568,403	1,546,837
Notes Receivable	476	815
Investment in Joint Venture	52,960	48,620
Goodwill and Intangible Assets, net	240,947	235,505
Other Assets	11,445	14,723
Total Assets	2,321,041	2,247,124
Current Liabilities -
Accounts Payable	79,194	92,193
Accrued Liabilities	59,788	55,379
Income Tax Payable	1,211	733
Current Portion of Long-term Debt	81,214	81,214
Total Current Liabilities	221,407	229,519
Long-term Debt	575,588	605,253
Other Long-term Liabilities	44,038	42,878
Deferred Income Taxes	167,335	166,024
Total Liabilities	1,008,368	1,043,674
Total Stockholders’ Equity	1,312,673	1,203,450
Liabilities and Stockholders' Equity, Total	2,321,041	2,247,124
Eliminations [Member]
Current Assets -
Income Tax Receivable		(33,196)
Total Current Assets		(33,196)
Investments in Subsidiaries and Receivables from Affiliates	(8,862,208)	(8,378,598)
Total Assets	(8,862,208)	(8,411,794)
Current Liabilities -
Income Tax Payable		(33,196)
Total Current Liabilities		(33,196)
Payables to Affiliates	(6,416,811)	(6,078,019)
Total Liabilities	(6,416,811)	(6,111,215)
Total Stockholders’ Equity	(2,445,397)	(2,300,579)
Liabilities and Stockholders' Equity, Total	(8,862,208)	(8,411,794)
Parent [Member]
Current Assets -
Cash and Cash Equivalents	29,062	5,184	52,524	3,507
Accounts and Notes Receivable	396	422
Income Tax Receivable		33,196
Prepaid and Other Current Assets	595	484
Total Current Assets	30,053	39,286
Property, Plant and Equipment -	3,099	2,914
Less: Accumulated Depreciation	(999)	(937)
Property, Plant and Equipment, net	2,100	1,977
Investment in Joint Venture	61	51
Investments in Subsidiaries and Receivables from Affiliates	5,415,507	5,126,289
Other Assets	5,521	5,687
Total Assets	5,453,242	5,173,290
Current Liabilities -
Accounts Payable	6,067	6,687
Accrued Liabilities	19,787	21,043
Income Tax Payable	1,211	733
Current Portion of Long-term Debt	81,214	81,214
Total Current Liabilities	108,279	109,677
Long-term Debt	575,588	605,253
Other Long-term Liabilities	157	189
Payables to Affiliates	3,446,701	3,252,309
Deferred Income Taxes	9,844	2,412
Total Liabilities	4,140,569	3,969,840
Total Stockholders’ Equity	1,312,673	1,203,450
Liabilities and Stockholders' Equity, Total	5,453,242	5,173,290
Guarantor Subsidiaries [Member]
Current Assets -
Cash and Cash Equivalents	1,994	1,377	$ 1,982	$ 1,884
Accounts and Notes Receivable	168,729	135,891
Inventories	239,189	252,846
Prepaid and Other Current Assets	6,845	4,420
Total Current Assets	416,757	394,534
Property, Plant and Equipment -	2,512,238	2,436,524
Less: Accumulated Depreciation	(945,935)	(891,664)
Property, Plant and Equipment, net	1,566,303	1,544,860
Notes Receivable	476	815
Investment in Joint Venture	52,899	48,569
Investments in Subsidiaries and Receivables from Affiliates	3,446,701	3,252,309
Goodwill and Intangible Assets, net	240,947	235,505
Other Assets	5,924	9,036
Total Assets	5,730,007	5,485,628
Current Liabilities -
Accounts Payable	73,127	85,506
Accrued Liabilities	40,001	34,336
Income Tax Payable		33,196
Total Current Liabilities	113,128	153,038
Other Long-term Liabilities	43,881	42,689
Payables to Affiliates	2,970,110	2,825,710
Deferred Income Taxes	157,491	163,612
Total Liabilities	3,284,610	3,185,049
Total Stockholders’ Equity	2,445,397	2,300,579
Liabilities and Stockholders' Equity, Total	$ 5,730,007	$ 5,485,628

Condensed Consolidating State73

Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	$ 152,748	$ 160,152
CASH FLOWS FROM INVESTING ACTIVITIES
Property, Plant and Equipment Additions	(44,851)	(18,231)
Acquisition Spending	(36,761)
Net Cash Used in Investing Activities	(81,612)	(18,231)
CASH FLOWS FROM FINANCING ACTIVITIES
Decrease in Credit Facility	(30,000)	(382,000)
Issuance of Long-term Debt		350,000
Payment of Debt Issuance Costs		(6,637)
Dividends Paid to Stockholders	(9,709)	(9,677)
Purchase and Retirement of Common Stock	(24,903)	(60,013)
Proceeds from Stock Option Exercises	20,426	12,992
Shares Redeemed to Settle Employee Taxes on Stock Compensation	(2,455)	(2,965)
Excess Tax Benefits from Share Based Payment Arrangements		5,494
Net Cash Used in Financing Activities	(46,641)	(92,806)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	24,495	49,115
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	6,561	5,391
CASH AND CASH EQUIVALENTS AT END OF PERIOD	31,056	54,506
Parent [Member]
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	21,447	(78,298)
CASH FLOWS FROM INVESTING ACTIVITIES
Property, Plant and Equipment Additions		(233)
Net Cash Used in Investing Activities		(233)
CASH FLOWS FROM FINANCING ACTIVITIES
Decrease in Credit Facility	(30,000)	(382,000)
Issuance of Long-term Debt		350,000
Payment of Debt Issuance Costs		(6,637)
Dividends Paid to Stockholders	(9,709)	(9,677)
Purchase and Retirement of Common Stock	(24,903)	(60,013)
Proceeds from Stock Option Exercises	20,426	12,992
Shares Redeemed to Settle Employee Taxes on Stock Compensation	(2,455)	(2,965)
Excess Tax Benefits from Share Based Payment Arrangements		5,494
Intra-entity Activity, net	49,072	220,354
Net Cash Used in Financing Activities	2,431	127,548
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	23,878	49,017
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	5,184	3,507
CASH AND CASH EQUIVALENTS AT END OF PERIOD	29,062	52,524
Guarantor Subsidiaries [Member]
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	131,301	238,450
CASH FLOWS FROM INVESTING ACTIVITIES
Property, Plant and Equipment Additions	(44,851)	(17,998)
Acquisition Spending	(36,761)
Net Cash Used in Investing Activities	(81,612)	(17,998)
CASH FLOWS FROM FINANCING ACTIVITIES
Intra-entity Activity, net	(49,072)	(220,354)
Net Cash Used in Financing Activities	(49,072)	(220,354)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	617	98
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	1,377	1,884
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 1,994	$ 1,982