Eagle Materials (EXP) 10-K 23 May 19 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
	Mar. 31, 2019	May 21, 2019	Sep. 30, 2018
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Trading Symbol	EXP
Entity Registrant Name	EAGLE MATERIALS INC
Entity Central Index Key	0000918646
Current Fiscal Year End Date	--03-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		44,117,946
Entity Public Float			$ 4

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Revenue	$ 1,393,241,000	$ 1,386,520,000	$ 1,211,220,000
Cost of Goods Sold	1,066,673,000	1,047,764,000	899,175,000
Gross Profit	326,568,000	338,756,000	312,045,000
Equity in Earnings of Unconsolidated Joint Venture	38,565,000	43,419,000	42,386,000
Corporate General and Administrative Expense	(37,371,000)	(41,205,000)	(33,940,000)
Impairment Losses	(220,265,000)	0	0
Litigation Settlements and Losses	(1,800,000)	(45,098,000)
Other Non-Operating Income	2,412,000	3,728,000	2,139,000
Acquisition-Related Expense			(5,480,000)
Interest Expense, Net	(28,374,000)	(27,638,000)	(22,631,000)
Earnings Before Income Taxes	79,735,000	271,962,000	294,519,000
Income Taxes	(10,875,000)	(15,330,000)	(96,300,000)
Net Earnings	$ 68,860,000	$ 256,632,000	$ 198,219,000
EARNINGS PER SHARE
Basic	$ 1.48	$ 5.33	$ 4.14
Diluted	$ 1.47	$ 5.28	$ 4.10
AVERAGE SHARES OUTSTANDING
Basic	46,620,894	48,141,226	47,931,518
Diluted	46,932,380	48,645,986	48,361,286
CASH DIVIDENDS PER SHARE	$ 0.40	$ 0.40	$ 0.40

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Net Earnings	$ 68,860	$ 256,632	$ 198,219
Net Actuarial Change in Defined Benefit Plans:
Unrealized gain during the period, net of tax expense of $68, $1,995, and $1,544	224	3,407	2,765
Amortization of net actuarial loss, net of tax benefit of $149, $301, and $760	472	955	1,248
Reclassification of Income Tax Effects to Retained Earnings		(978)
Comprehensive Earnings	$ 69,556	$ 260,016	$ 202,232

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Earnings (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Statement Of Income And Comprehensive Income [Abstract]
Unrealized gain during the period, tax expense	$ 68	$ 1,995	$ 1,544
Amortization of Net Actuarial Loss, tax benefit	$ 149	$ 301	$ 760

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Current Assets -
Cash and Cash Equivalents	$ 8,601	$ 9,315
Restricted Cash		38,753
Accounts and Notes Receivable, net	128,722	141,685
Inventories	275,194	258,159
Income Tax Receivable	5,480	5,750
Prepaid and Other Assets	9,624	5,073
Total Current Assets	427,621	458,735
Property, Plant, and Equipment, net	1,426,939	1,595,299
Notes Receivable	2,898	115
Investment in Joint Venture	64,873	60,558
Goodwill and Intangible Assets, net	229,115	239,342
Other Assets	17,717	13,954
Total Assets	2,169,163	2,368,003
Current Liabilities -
Accounts Payable	80,884	73,459
Accrued Liabilities	61,949	105,870
Current Portion of Long-term Debt	36,500
Total Current Liabilities	179,333	179,329
Long-term Debt	655,092	620,922
Other Long-term Liabilities	34,492	31,096
Deferred Income Taxes	90,759	118,966
Total Liabilities	959,676	950,313
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 45,117,393 and 48,282,784 Shares, respectively.	451	483
Capital in Excess of Par Value		122,379
Accumulated Other Comprehensive Losses	(3,316)	(4,012)
Retained Earnings	1,212,352	1,298,840
Total Stockholders’ Equity	1,209,487	1,417,690
Liabilities and Stockholders' Equity, Total	$ 2,169,163	$ 2,368,003

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Mar. 31, 2018
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	45,117,393	48,282,784
Common Stock, Outstanding	45,117,393	48,282,784

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net Earnings	$ 68,860,000	$ 256,632,000	$ 198,219,000
Adjustments to Reconcile Net Earnings to Net Cash Provided by Operating Activities, Net of Effect of Non-Cash Activity:
Depreciation, Depletion and Amortization	122,535,000	114,015,000	91,791,000
Inventory Adjustment to Net Realizable Value			8,492,000
Impairment Losses	220,265,000	0	0
Reduction of Prepaid Sand Liability			(2,000,000)
Deferred Income Tax Provision	(28,371,000)	(49,354,000)	2,203,000
Stock Compensation Expense	15,109,000	14,079,000	12,069,000
Excess Tax Benefits from Share-Based Payment Arrangements			(10,349,000)
Equity in Earnings of Unconsolidated Joint Venture	(38,565,000)	(43,419,000)	(42,386,000)
Distributions from Joint Venture	34,250,000	31,500,000	43,250,000
Changes in Operating Assets and Liabilities:
Accounts and Notes Receivable	10,180,000	(2,560,000)	(14,235,000)
Inventories	(19,016,000)	(5,114,000)	(6,636,000)
Accounts Payable and Accrued Liabilities	(31,949,000)	24,173,000	33,687,000
Other Assets	(3,284,000)	4,196,000	788,000
Income Taxes Payable (Receivable)	270,000	(6,483,000)	16,705,000
Net Cash Provided by Operating Activities	350,284,000	337,665,000	331,598,000
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment	(168,873,000)	(131,957,000)	(56,938,000)
Acquisition Spending		(36,761,000)	(400,488,000)
Proceeds from Sales of Property, Plant, and Equipment	2,281,000
Net Cash Used in Investing Activities	(166,592,000)	(168,718,000)	(457,426,000)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (Decrease) in Credit Facility	70,000,000	15,000,000	(157,000,000)
Repayment of Private Placement Senior Unsecured Notes		(81,214,000)	(8,000,000)
Issuance of Senior Unsecured Notes			350,000,000
Dividends Paid to Stockholders	(18,927,000)	(19,438,000)	(19,341,000)
Purchase and Retirement of Common Stock	(271,988,000)	(61,078,000)	(60,013,000)
Proceeds from Stock Option Exercises	2,103,000	24,264,000	22,108,000
Shares Redeemed to Settle Employee Taxes on Stock Compensation	(4,347,000)	(4,974,000)	(4,468,000)
Payment of Debt Issuance Costs			(6,637,000)
Excess Tax Benefits from Share-Based Payment Arrangements			10,349,000
Net Cash Provided by (Used in) Financing Activities	(223,159,000)	(127,440,000)	126,998,000
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	(39,467,000)	41,507,000	1,170,000
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	48,068,000	6,561,000	5,391,000
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$ 8,601,000	$ 48,068,000	$ 6,561,000

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Capital in Excess of Par Value [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Losses [Member]
Beginning balance at Mar. 31, 2016	$ 1,040,531	$ 485	$ 168,969	$ 882,486	$ (11,409)
Net Earnings	198,219			198,219
Stock Option Exercises and Restricted Share Vesting	22,108	8	22,100
Tax Benefit-Stock Option Exercise	10,349		10,349
Purchase and Retirement of Common Stock	(60,013)	(9)	(60,004)
Dividends to Stockholders	(19,358)			(19,358)
Stock Compensation Expense	12,069	1	12,068
Shares Redeemed to Settle Employee Taxes	(4,468)		(4,468)
Unfunded Pension Liability, net of tax	4,013				4,013
Ending Balance at Mar. 31, 2017	1,203,450	485	149,014	1,061,347	(7,396)
Net Earnings	256,632			256,632
Stock Option Exercises and Restricted Share Vesting	24,264	3	24,261
Purchase and Retirement of Common Stock	(61,078)	(5)	(61,073)
Dividends to Stockholders	(19,404)			(19,404)
Stock Compensation Expense	14,079		14,079
Cumulative Impact of the Adoption of ASU 2016-09			713	(713)
Reclassification of Income Tax Effects to Retained Earnings				978	(978)
Shares Redeemed to Settle Employee Taxes	(4,974)		(4,974)
Other	359		359
Unfunded Pension Liability, net of tax	4,362				4,362
Ending Balance at Mar. 31, 2018	1,417,690	483	122,379	1,298,840	(4,012)
Net Earnings	68,860			68,860
Stock Option Exercises and Restricted Share Vesting	2,104	1	2,103
Purchase and Retirement of Common Stock	(271,988)	(33)	(135,243)	(136,712)
Dividends to Stockholders	(18,636)			(18,636)
Stock Compensation Expense	15,108		15,108
Shares Redeemed to Settle Employee Taxes	(4,347)		(4,347)
Unfunded Pension Liability, net of tax	696				696
Ending Balance at Mar. 31, 2019	$ 1,209,487	$ 451	$ 0	$ 1,212,352	$ (3,316)

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	(A) Significant Accounting Policies Basis of Presentation The consolidated financial statements include the accounts of Eagle Materials Inc. and its majority-owned subsidiaries (the Company), which may be referred to as we, our, or us. All intercompany balances and transactions have been eliminated. The Company is a holding company whose assets consist of its investments in its subsidiaries, joint venture, intercompany balances and holdings of cash and cash equivalents. The businesses of the consolidated group are conducted through the Company’s subsidiaries. The Company conducts one of its cement plant operations through a joint venture, Texas Lehigh Cement Company L.P., which is located in Buda, Texas (the Joint Venture). Our investment in the Joint Venture is accounted for using the equity method of accounting, and those results have been included for the same period as our March 31 fiscal year end. The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash Equivalents include short-term, highly liquid investments with original maturities of three months or less and are recorded at cost, which approximates market value. Restricted Cash Restricted Cash included amounts deposited in a qualified settlement fund. These amounts were deposited in relation to our settlement of a class action lawsuit and upon final approval of the District Court, these funds were transferred to the plaintiff’s attorneys. See Footnote (H) for more information regarding the lawsuit and settlement. Accounts and Notes Receivable Accounts and Notes Receivable have been shown net of the allowance for doubtful accounts of $9.9 million and $8.6 million at March 31, We had Notes Receivable totaling approximately $3.6 million at March 31, Inventories Inventories are stated at the lower of average cost (including applicable material, labor, depreciation, and plant overhead) or net realizable value. Inventories consist of the following: March 31, 2019 2018 (dollars in thousands) Raw Materials and Materials-in-Progress $ 125,828 $ 121,628 Finished Cement 27,826 24,089 Aggregates 7,351 7,787 Gypsum Wallboard 7,124 8,477 Paperboard 15,660 8,602 Frac Sand 2,557 1,696 Repair Parts and Supplies 80,676 79,878 Fuel and Coal 8,172 6,002 $ 275,194 $ 258,159 Property, Plant, and Equipment Property, Plant, and Equipment are stated at cost. Major renewals and improvements are capitalized and depreciated. Annual maintenance is expensed as incurred. Depreciation is provided on a straight-line basis over the estimated useful lives of depreciable assets and totaled $118.2 million, $109.6 million, and $86.0 million for the years ended March 31, Plants 20 to 30 years Buildings 20 to 40 years Machinery and Equipment 3 to 25 years We periodically evaluate whether current events or circumstances indicate that the carrying value of our depreciable assets may not be recoverable. During fiscal 2019, we recorded an impairment of approximately $211.3 million related to property and equipment in our Oil and Gas Proppants segment. See Impairment or Disposal of Long-lived and Intangible Assets below for more information about the impairment. Goodwill and Intangible Assets Goodwill We annually assess Goodwill in the fourth quarter of our fiscal year, or more frequently when indicators of impairment exist. Impairment testing for Goodwill is done at the reporting unit, which is consistent with the reportable segment. Goodwill is considered impaired if the carrying value of the reporting unit exceeds its fair value. Prior to performing the Step 1 quantitative analysis, we may, at our discretion, perform an optional qualitative analysis, or it may choose to proceed directly to the Step 1 quantitative analysis. The qualitative analysis considers the impact of the following events and circumstances on the reporting unit being tested: macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, and other relevant entity-specific events. If, as a result of this qualitative analysis, we conclude that it is more likely than not (a likelihood of greater than 50%) that the fair value of the reporting unit exceeds its carrying value, then an impairment does not exist and the quantitative Step 1 analysis is not required. If we are unable to conclude that it is more-likely-than-not that the fair value of the reporting unit exceeds its carrying value, then we proceed to the quantitative Step 1 analysis. Step 1 of the quantitative test for impairment compares the fair value of the reporting unit to its carrying value. If the carrying value exceeds the fair value, then an impairment is indicated. If facts and circumstances related to our business change in subsequent years, we may choose to perform a quantitative analysis in those future years. If we perform a Step 1 analysis, and the carrying value of the reporting unit exceeds its fair value, then an impairment charge equal to the difference, not to exceed the total amount of Goodwill, is recorded. The fair values of the reporting units are estimated by using both the market and income approaches. The market approach considers market factors and certain multiples in comparison to similar companies, while the income approach uses discounted cash flows to determine the estimated fair values of the reporting units. We also perform an overall comparison of all reporting units to our market capitalization in order to test the reasonableness of our fair value calculations. We performed qualitative assessments of our Cement, Gypsum Wallboard, and Recycled Paperboard reporting units in the fourth quarter of fiscal 2019. As a result of these qualitative assessments, we determined that it was not more likely than not that an impairment existed; therefore, we did not perform a Step 1 quantitative impairment test. We performed a quantitative Step 1 impairment test on our Oil and Gas Proppants reporting unit. We estimated the reporting unit’s fair value using a discounted cash flow model. Key assumptions in the model were: estimated average net sales prices, sales volumes and the discount rate, which was estimated at 11%. Based on the results of the Step 1 impairment analysis, we concluded that the entire balance of Goodwill in the Oil and Gas Proppants reporting unit was impaired, and we recorded an impairment loss of approximately $6.8 million in the reporting unit in the fourth quarter of fiscal 2019. Intangible Assets Intangible Assets, including the impact of the impairment charges discussed above, at March 31, March 31, 2019 Amortization Period Cost Accumulated Amortization Impairment Net (dollars in thousands) Goodwill and Intangible Assets: Customer Contracts and Relationships 15 years $ 72,260 $ (61,009 ) $ (178 ) $ 11,073 Sales Contracts 4 years 2,500 (2,500 ) — — Permits 40 years 28,640 (8,968 ) — 19,672 Goodwill 205,211 — (6,841 ) 198,370 Total Goodwill and Intangible Assets $ 308,611 $ (72,477 ) $ (7,019 ) $ 229,115 March 31, 2018 Amortization Period Cost Accumulated Amortization Net (dollars in thousands) Goodwill and Intangible Assets: Customer Contracts and Relationships 15 years $ 72,260 $ (58,732 ) $ 13,528 Sales Contracts 4 years 2,500 (2,500 ) — Permits 40 years 28,640 (8,037 ) 20,603 Goodwill 205,211 — 205,211 Total Goodwill and Intangible Assets $ 308,611 $ (69,269 ) $ 239,342 At March 31, 2019 and During fiscal During fiscal Amortization expense of intangibles was $4.3 million, $4.4 million, and $4.8 million for the years ended March 31, Impairment or Disposal of Long-Lived and Intangible Assets We assess our long-lived assets, including mining and related assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset, or group of assets, may not be recoverable. Long-lived assets, or groups of assets, are evaluated for impairment at the lowest level for which cash flows are largely independent of the cash flows of other assts. We assess recoverability of assets, or group of assets, by comparing the carrying amount of an asset, or group of assets, to the future undiscounted net cash flows that we expect the asset, or group of assets, to generate. These impairment evaluations are significantly affected by estimates of future revenue, costs and expenses, and other factors. If the carrying value of the assets, or group of assets, exceeds the undiscounted cash flows, then an impairment is indicated. If such assets, or group of assets, are considered to be impaired, the impairment is recognized as the amount by which the carrying amount of the asset, or group of assets, exceeds the fair value of the asset, or group of assets. Any assets held for sale are reflected at the lower of their carrying amount or fair value less cost to sell. During the latter part of fiscal 2019, continued declining sales prices, sales volume and operating results in our Oil and Gas Proppants business indicated that impairment indictors were present. The decline in sales volume was primarily related to decreased demand from the Permian Basin. The decline in orders is due to several factors, including reduced completion budgets, limited pipeline take away capacity in the Permian Basin, and an increase in the usage of in-basin regional sand. The capacity for in-basin sand has increased in recent years, and certain of our customers have shifted their purchases from northern white sand to lower cost regional sand. Because of the continuing shift in demand to regional sand, and the decline in our operating results, we concluded in the fourth quarter of fiscal 2019 that the reduction in sales volumes and operating losses were other than temporary and that long-lived asset impairment indicators were present in our Oil and Gas Proppants segment. Prior to performing tests to determine whether an impairment was present, we grouped the long-lived assets of the segment into the lowest level where cash flows are generated, which is considered the operating facility or distribution level. We then performed recoverability tests on each group of assets using probability weighted estimates of forecasted undiscounted cash flows over the remaining estimated life of each asset group based on a variety of scenarios. Based on these forecasts we concluded that the carrying values exceeded the undiscounted cash flows for two of the operating facilities and several of the distribution facilities, indicating impairment. For those impaired asset groups, we calculated an estimated fair value using either a discounted cash flow model (Level 3) or real estate appraisals (Level 2) when it was determined the value of the real estate was the highest and best use of the property. In preparing the discounted cash flow model, we utilized a weighted-average cost of capital which was determined from relevant market comparisons and adjusted for specific risks. The analysis resulted in impairment losses to Property, Plant, and Equipment as well as Goodwill, Intangible, and Other Assets of approximately $211.3 million and $9.0 million, respectively, which is included in Impairment Losses in the Consolidated Statement of Earnings for fiscal year 2019. There was no impairment of long-lived assets or intangible assets during fiscal 2018 and 2017. Other Assets Other Assets are primarily composed of financing costs related to our revolving credit facility, deferred expenses, and deposits. Income Taxes We account for Income Taxes using the asset and liability method. The effect on deferred taxes of a change in tax rates is recognized in earnings in the period that includes the enactment date. We recognize deferred taxes for the differences between financial statement carrying amounts and the tax bases of existing assets and liabilities by applying enacted statutory tax rates for future years. In addition, we recognize future tax benefits to the extent that such benefits are more likely than not to be realized. Stock Repurchases On April 18, Revenue Recognition On April 1, 2018, we adopted the new accounting standard ASU 2014-09 (Topic 606), “Revenue from Contracts with Customers,” and all the related amendments to contracts using the modified retrospective method. The adoption of ASU 2014-09 had no impact on our financial statements at the time of the adoption. We earn Revenue primarily from the sale of products, which include cement, concrete, aggregates, gypsum wallboard, recycled paperboard, and frac sand. The vast majority of Revenue from the sale of cement, concrete, aggregates, and gypsum wallboard is originated by purchase orders from our customers, who are primarily third-party contractors and suppliers. Revenue from our Recycled Paperboard and Oil and Gas Proppants segments is generated primarily through long-term supply agreements that mature between 2018 and 2025. We also earn Revenue from transload services and storage; we recognize Revenue from these services when the product is transferred from the rail car to the truck or silo, or from the silo to the railcar or truck. We invoice customers upon shipment, and our collection terms range from 30-65 days. Revenue from the sale of cement, concrete, aggregates, and gypsum wallboard that is not related to long-term supply agreements is recognized upon shipment of the related products to customers, which is when title and ownership are transferred, and the customer is obligated to pay. Revenue from sales under our long-term supply agreements is also recognized upon transfer of control to the customer, which generally occurs at the time the product is shipped from the production facility or transload location. Our long-term supply agreements with customers define, among other commitments, the volume of product that we must provide and the volume that the customer must purchase by the end of the defined periods. Pricing structures under our agreements are generally market-based but are subject to certain contractual adjustments. Historically the pricing and volume requirements under certain of these contracts have been renegotiated during volatile market conditions. Shortfall amounts, if applicable under these arrangements, are constrained and not recognized as Revenue until agreement is reached with the customer and there is no risk of reversal. The Company offers certain of its customers, including those with long-term supply agreements, rebates and incentives, which we treat as variable consideration. We adjust the amount of revenue recognized for the variable consideration using the most likely amount method based on past history and projected volumes in the rebate and incentive period. Any amounts billed to customers for taxes are excluded from Revenue. The Company has elected to treat freight and delivery charges we pay for the delivery of goods to our customers as a fulfilment activity rather than a separate performance obligation. When we arrange for a third party to deliver products to customers, fees for shipping and handling that are billed to the customer are recorded as Revenue, while costs we incur for shipping and handling are recorded as expenses and included in Cost of Goods Sold. Approximately $169.6 million, $158.3 million, and $138.0 million of freight for the years ended March 31, 2019, 2018 and 2017, respectively, were included in both revenue and Cost of Goods Sold in our Consolidated Statement of Earnings. Other Non-Operating Income includes lease and rental income, asset sale income, non-inventoried aggregates sales income, distribution center income, and trucking income, as well as other miscellaneous revenue items and costs which have not been allocated to a business segment. See Footnote (F) of the Notes to Consolidated Financial Statements for disaggregation of Revenue by segment. Comprehensive Income/Losses As of March 31, Consolidated Cash Flows – Supplemental Disclosures Interest payments made during the years ended March 31, We made net payments of $40.0 million, $69.4 million, and $76.1 million for federal and state income taxes in the years ended March 31, Statements of Consolidated Earnings – Supplemental Disclosures Maintenance and repair expenses are included in each segment’s costs and expenses. We incurred $116.3 million, $107.3 million, and $101.5 of maintenance and repairs expense million in the years ended March 31, Selling, General and Administrative Expenses Selling, General, and Administrative expenses of the operating units are included in Cost of Goods Sold on the Consolidated Statements of Earnings. Corporate General and Administrative (Corporate G&A) expenses include administration, financial, legal, employee benefits, and other corporate activities, and are shown separately in the Consolidated Statements of Earnings. Corporate G&A also includes stock compensation expense. See Footnote (I) for more information. Total Selling, General, and Administrative expenses for each of the periods are summarized as follows: For the Years Ended March 31, 2019 2018 2017 (dollars in thousands) Operating Units Selling, G&A $ 53,787 $ 62,529 $ 57,004 Corporate G&A 37,371 41,205 33,940 $ 91,158 $ 103,734 $ 90,944 Earnings Per Share For the Years Ended March 31, 2019 2018 2017 Weighted-Average Shares of Common Stock Outstanding 46,620,894 48,141,226 47,931,518 Effect of Dilutive Shares: Assumed Exercise of Outstanding Dilutive Options 539,135 1,013,764 1,000,556 Less Shares Repurchased from Proceeds of Assumed Exercised Options (374,380 ) (727,904 ) (726,223 ) Restricted Stock Units 146,731 218,900 155,435 Weighted-Average Common Stock and Dilutive Securities Outstanding 46,932,380 48,645,986 48,361,286 The line Less Shares Repurchased from Proceeds of Assumed Exercised Options includes unearned compensation related to outstanding stock options. There were 461,575; 98,362; and 513,262 stock options at an average exercise price of $90.32 per share, $98.75 per share, and $80.59 per share, respectively, that were excluded from the computation of diluted earnings per share for the years ended March 31, Share-Based Compensation All share-based compensation is valued at the grant date and expensed over the requisite service period, which is generally identical to the vesting period of the award. Forfeitures of share-based awards are recognized in the period in which they occur. Fair Value Measures Certain assets and liabilities are required to be recorded or disclosed at fair value. The estimated fair values of those assets and liabilities have been determined using market information and valuation methodologies. Changes in assumptions or estimation methods could affect the fair value estimates; however, we do not believe any such changes would have a material impact on our financial condition, results of operations, or cash flows. There are three levels of inputs that may be used to measure fair value: Level 1 – Quoted prices for identical assets and liabilities in active markets; Level 2 – Quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data; and Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies, and similar techniques that use significant unobservable inputs. Recent Accounting Pronouncements RECENTLY ADOPTED In March 2017, the Financial Accounting Standards Board (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 adopted the standard on April 1, 2018 using the retrospective method for presentation of service cost and other components in the income statement. We prospectively adopted the requirement to limit the capitalization of benefit cost to the service cost component. The impact of adopting this standard was not material to our financial statements . In January 2017, the FASB issued ASU 2017-04, “Simplifying the Test for Goodwill Impairment,” which eliminates the second step of the goodwill impairment test. Under the new standard, an entity should recognize an impairment charge for the amount by which the carrying value of the reporting unit exceeds the reporting unit’s fair value. We adopted this standard effective April 1, 2018 . PENDING ADOPTION In February 2016, the FASB issued ASU 2016-02, “Leases,” which supersedes existing lease guidance to require lessees to recognize right-of-use 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 new standard provides a number of practical expedients for transition and elections for the future application of the policy. We will elect the “package of practical expedients”, which permits us to not reassess prior conclusions about lease identification and classification. We will also elect the practical expedient allowing the use of hindsight, which allowed the inclusion of certain renewal options that were not previously considered using the former lease guidance. We have also chosen to exclude short-term leases, which are those leases with terms of less than twelve month. We will adopt this standard on April 1, 2019 using the modified-retrospective transition approach. Under this approach, we will record a right-of-use asset and lease liability for all leases outstanding (excluding short-term leases) as of that date, and will not restate periods prior to the date of adoption. We expect to recognize an operating lease liability in the range of approximately $70.0 million to $75.0 million, with a corresponding right-of-use asset in the range of approximately $67.0 million to $72.0 million. We do not expect the adoption of this standard to materially impact annual lease expense. In January 2018, the FASB issued ASU 2018-01, “Land Easement Practical Expedient for Transition to Topic 842.” This ASU permits the election not to evaluate land easements under the new lease guidance that existed or expired before the adoption of the ASU 2016-02 and that were not previously accounted for as leases. We will adopt ASU 2018-01 concurrently with the adoption of ASU 2016-02, and have elected not to evaluate land easements that existed or expired before adoption. Acquisition-Related Expense Acquisition-Related Expense consists primarily of expenses incurred during the acquisition of our cement plant in Fairborn, Ohio in February 2017. (A) Significant Accounting Policies Basis of Presentation The consolidated financial statements include the accounts of Eagle Materials Inc. and its majority-owned subsidiaries (the Company), which may be referred to as we, our, or us. All intercompany balances and transactions have been eliminated. The Company is a holding company whose assets consist of its investments in its subsidiaries, joint venture, intercompany balances and holdings of cash and cash equivalents. The businesses of the consolidated group are conducted through the Company’s subsidiaries. The Company conducts one of its cement plant operations through a joint venture, Texas Lehigh Cement Company L.P., which is located in Buda, Texas (the Joint Venture). Our investment in the Joint Venture is accounted for using the equity method of accounting, and those results have been included for the same period as our March 31 fiscal year end. The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Cash and Cash Equivalents Cash Equivalents include short-term, highly liquid investments with original maturities of three months or less and are recorded at cost, which approximates market value. Restricted Cash Restricted Cash included amounts deposited in a qualified settlement fund. These amounts were deposited in relation to our settlement of a class action lawsuit and upon final approval of the District Court, these funds were transferred to the plaintiff’s attorneys. See Footnote (H) for more information regarding the lawsuit and settlement. Accounts and Notes Receivable Accounts and Notes Receivable have been shown net of the allowance for doubtful accounts of $9.9 million and $8.6 million at March 31, We had Notes Receivable totaling approximately $3.6 million at March 31, Inventories Inventories are stated at the lower of average cost (including applicable material, labor, depreciation, and plant overhead) or net realizable value. Inventories consist of the following: March 31, 2019 2018 (dollars in thousands) Raw Materials and Materials-in-Progress $ 125,828 $ 121,628 Finished Cement 27,826 24,089 Aggregates 7,351 7,787 Gypsum Wallboard 7,124 8,477 Paperboard 15,660 8,602 Frac Sand 2,557 1,696 Repair Parts and Supplies 80,676 79,878 Fuel and Coal 8,172 6,002 $ 275,194 $ 258,159 Property, Plant, and Equipment Property, Plant, and Equipment are stated at cost. Major renewals and improvements are capitalized and depreciated. Annual maintenance is expensed as incurred. Depreciation is provided on a straight-line basis over the estimated useful lives of depreciable assets and totaled $118.2 million, $109.6 million, and $86.0 million for the years ended March 31, Plants 20 to 30 years Buildings 20 to 40 years Machinery and Equipment 3 to 25 years We periodically evaluate whether current events or circumstances indicate that the carrying value of our depreciable assets may not be recoverable. During fiscal 2019, we recorded an impairment of approximately $211.3 million related to property and equipment in our Oil and Gas Proppants segment. See Impairment or Disposal of Long-lived and Intangible Assets below for more information about the impairment. Goodwill and Intangible Assets Goodwill We annually assess Goodwill in the fourth quarter of our fiscal year, or more frequently when indicators of impairment exist. Impairment testing for Goodwill is done at the reporting unit, which is consistent with the reportable segment. Goodwill is considered impaired if the carrying value of the reporting unit exceeds its fair value. Prior to performing the Step 1 quantitative analysis, we may, at our discretion, perform an optional qualitative analysis, or it may choose to proceed directly to the Step 1 quantitative analysis. The qualitative analysis considers the impact of the following events and circumstances on the reporting unit being tested: macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, and other relevant entity-specific events. If, as a result of this qualitative analysis, we conclude that it is more likely than not (a likelihood of greater than 50%) that the fair value of the reporting unit exceeds its carrying value, then an impairment does not exist and the quantitative Step 1 analysis is not required. If we are unable to conclude that it is more-likely-than-not that the fair value of the reporting unit exceeds its carrying value, then we proceed to the quantitative Step 1 analysis. Step 1 of the quantitative test for impairment compares the fair value of the reporting unit to its carrying value. If the carrying value exceeds the fair value, then an impairment is indicated. If facts and circumstances related to our business change in subsequent years, we may choose to perform a quantitative analysis in those future years. If we perform a Step 1 analysis, and the carrying value of the reporting unit exceeds its fair value, then an impairment charge equal to the difference, not to exceed the total amount of Goodwill, is recorded. The fair values of the reporting units are estimated by using both the market and income approaches. The market approach considers market factors and certain multiples in comparison to similar companies, while the income approach uses discounted cash flows to determine the estimated fair values of the reporting units. We also perform an overall comparison of all reporting units to our market capitalization in order to test the reasonableness of our fair value calculations. We performed qualitative assessments of our Cement, Gypsum Wallboard, and Recycled Paperboard reporting units in the fourth quarter of fiscal 2019. As a result of these qualitative assessments, we determined that it was not more likely than not that an impairment existed; therefore, we did not perform a Step 1 quantitative impairment test. We performed a quantitative Step 1 impairment test on our Oil and Gas Proppants reporting unit. We estimated the reporting unit’s fair value using a discounted cash flow model. Key assumptions in the model were: estimated average net sales prices, sales volumes and the discount rate, which was estimated at 11%. Based on the results of the Step 1 impairment analysis, we concluded that the entire balance of Goodwill in the Oil and Gas Proppants reporting unit was impaired, and we recorded an impairment loss of approximately $6.8 million in the reporting unit in the fourth quarter of fiscal 2019. Intangible Assets Intangible Assets, including the impact of the impairment charges discussed above, at March 31, March 31, 2019 Amortization Period Cost Accumulated Amortization Impairment Net (dollars in thousands) Goodwill and Intangible Assets: Customer Contracts and Relationships 15 years $ 72,260 $ (61,009 ) $ (178 ) $ 11,073 Sales Contracts 4 years 2,500 (2,500 ) — — Permits 40 years 28,640 (8,968 ) — 19,672 Goodwill 205,211 — (6,841 ) 198,370 Total Goodwill and Intangible Assets $ 308,611 $ (72,477 ) $ (7,019 ) $ 229,115 March 31, 2018 Amortization Period Cost Accumulated Amortization Net (dollars in thousands) Goodwill and Intangible Assets: Customer Contracts and Relationships 15 years $ 72,260 $ (58,732 ) $ 13,528 Sales Contracts 4 years 2,500 (2,500 ) — Permits 40 years 28,640 (8,037 ) 20,603 Goodwill 205,211 — 205,211 Total Goodwill and Intangible Assets $ 308,611 $ (69,269 ) $ 239,342 At March 31, 2019 and During fiscal During fiscal Amortization expense of intangibles was $4.3 million, $4.4 million, and $4.8 million for the years ended March 31, Impairment or Disposal of Long-Lived and Intangible Assets We assess our long-lived assets, including mining and related assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset, or group of assets, may not be recoverable. Long-lived assets, or groups of assets, are evaluated for impairment at the lowest level for which cash flows are largely independent of the cash flows of other assts. We assess recoverability of assets, or group of assets, by comparing the carrying amount of an asset, or group of assets, to the future undiscounted net cash flows that we expect the asset, or group of assets, to generate. These impairment evaluations are significantly affected by estimates of future revenue, costs and expenses, and other factors. If the carrying value of the assets, or group of assets, exceeds the undiscounted cash flows, then an impairment is indicated. If such assets, or group of assets, are considered to be impaired, the impairment is recognized as the amount by which the carrying amount of the asset, or group of assets, exceeds the fair value of the asset, or group of assets. Any assets held for sale are reflected at the lower of their carrying amount or fair value less cost to sell. During the latter part of fiscal 2019, continued declining sales prices, sales volume and operating results in our O

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Mar. 31, 2019
Property Plant And Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	(B) Property, Plant, and Equipment Cost by major category and Accumulated Depreciation are summarized as follows: March 31, 2019 2018 (dollars in thousands) Land and Quarries $ 379,337 $ 368,776 Plants 2,006,870 1,925,980 Buildings, Machinery and Equipment 219,556 187,484 Construction in Progress 85,886 104,288 2,691,649 2,586,528 Accumulated Depreciation (1,264,710 ) (991,229 ) $ 1,426,939 $ 1,595,299

ACCRUED EXPENSES

ACCRUED EXPENSES	12 Months Ended
	Mar. 31, 2019
Payables And Accruals [Abstract]
ACCRUED EXPENSES	(C) Accrued Expenses Accrued expenses consist of the following: As of March 31, 2019 2018 (dollars in thousands) Payroll and Incentive Compensation $ 26,225 $ 25,290 Benefits 12,673 13,785 Interest 3,852 3,852 Property Taxes 5,058 5,422 Power and Fuel 1,644 1,545 Litigation Settlements and Expenses 1,900 46,533 Sales and Use Tax 2,167 890 Other 8,430 8,553 $ 61,949 $ 105,870

INDEBTEDNESS

INDEBTEDNESS	12 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
INDEBTEDNESS	(D) Indebtedness Long-term debt consists of the following: As of March 31, 2019 2018 (dollars in thousands) Bank Credit Facility $ 310,000 $ 240,000 4.500% Senior Unsecured Notes Due 2026 350,000 350,000 Private Placement Senior Unsecured Notes 36,500 36,500 Total Debt 696,500 626,500 Less: Current Portion of Long-term Debt (36,500 ) — Less: Debt Origination Costs (4,908 ) (5,578 ) Long-term Debt $ 655,092 $ 620,922 The weighted-average interest rate of our Private Placement Senior Unsecured Notes was 6.5%, 6.0%, and 6.0% during fiscal The weighted-average interest rate of borrowings under our Credit Facility during fiscal Our maturities of long-term debt during the next five fiscal years and thereafter are as follows: Fiscal Year Amount 2020 $ 36,500 2021 — 2022 310,000 2023 — 2024 — Thereafter 350,000 Total $ 696,500 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, At our option, outstanding principal amounts on the Credit Facility bear interest at a variable rate equal to (i) LIBOR, plus an agreed margin (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 were in compliance with all financial ratios and tests at March 31, 2019, and throughout the fiscal year. 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 March 31, 4.500% Senior Unsecured Notes Due 2026 On August 2, 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 existence of 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, unconditionally, jointly, and severally guaranteed by each of our subsidiaries that are guarantors under the Credit Facility and Private Placement Senior Unsecured Notes. See Footnote (D) of the Notes to Consolidated Financial Statements for more information on the guarantors of the Senior Unsecured Notes. Private Placement Senior Unsecured Notes On October 2, At March 31, Principal Maturity Date Interest Rate Tranche D $36.5 million October 2, 2019 6.48 % Interest for the Series Our obligations under the The were in compliance with all financial ratios and tests at March 31, 2019, and throughout the fiscal year. 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 Other Information 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 hold all outstanding industrial revenue bonds, no debt is reflected on our financial statements in connection with our lease of the cement plant. Upon expiration of the lease in fiscal

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	12 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	(E) Fair Value of Financial Instruments The fair value of our senior notes has been estimated based upon our current incremental borrowing rates for similar types of borrowing arrangements. The fair values of our Private Placement Senior Unsecured Notes and Senior Unsecured Notes at March 31, Fair Value (dollars in thousands) Series 2007A Tranche D $ 36,969 4.500% Senior Unsecured Notes Due 2026 $ 356,115 The estimated fair value of our long-term debt was based on quoted prices of similar debt instruments with similar terms that are publicly traded (level 2 input). The carrying values of cash and cash equivalents, accounts and notes receivable, accounts payable, and accrued liabilities approximate their fair values at March 31,

BUSINESS SEGMENTS

BUSINESS SEGMENTS	12 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
BUSINESS SEGMENTS	(F) Business Segments Operating segments are defined as components of an enterprise that engage in business activities that earn revenue, 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. During the quarter ended December 31, 2018, we changed our segment presentation to reflect the reorganization of our Oil and Gas Proppants and frac sand distribution businesses. Under this reorganization, the distribution business, which was acquired in fiscal 2018, became a division of the Oil and Gas Proppants business. The operations of the frac sand distribution business had previously been reported in the Other segment. For comparative purposes, we have adjusted the prior period segment presentation to reflect this change. We are a leading supplier of heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. Our products are commodities that are essential in commercial and residential construction; public construction projects; projects to build, expand, and repair roads and highways; and in oil and natural gas extraction. Our business is organized into three sectors within which there are five reportable business segments. The Heavy Materials sector includes the Cement and Concrete and Aggregates segments. The Light Materials sector includes the Gypsum Wallboard and Recycled Paperboard segments. The Oil and Gas Proppants segment produces frac sand used in oil and gas extraction. Our business activities are conducted in the U.S. and include the mining of limestone for the manufacture, production, distribution, and sale of portland cement (a basic construction material which is the essential binding ingredient in concrete) and specialty oil well cement; the grinding and sale of slag cement; the mining of gypsum, for 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). We operate seven cement plants, one slag grinding facility, 19 cement distribution terminals, five gypsum wallboard plants, a recycled paperboard mill, 17 readymix concrete batch plants, four aggregates processing plants, two frac sand processing facilities, four frac sand drying facilities, and five frac sand trans-load locations. The principal markets for our cement products are Texas, Illinois, the central plains, Michigan, Iowa, the Rocky Mountains, northern Nevada, southern 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 into shale deposits 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 Revenue and Operating Earnings, 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 table below sets forth certain financial information relating to our operations by segment. We do not allocate interest or taxes at the segment level, only at the consolidated company level. For the Years Ended March 31, 2019 2018 2017 (dollars in thousands) Revenue - Cement $ 656,759 $ 651,750 $ 566,321 Concrete and Aggregates 140,173 157,013 154,592 Gypsum Wallboard 532,712 491,779 473,651 Paperboard 167,656 181,742 167,065 Oil and Gas Proppants 82,987 98,244 34,623 1,580,287 1,580,528 1,396,252 Less: Intersegment Revenue (82,553 ) (88,124 ) (79,116 ) Less: Joint Venture Revenue (104,493 ) (105,884 ) (105,916 ) $ 1,393,241 $ 1,386,520 $ 1,211,220 For the Years Ended March 31, 2019 2018 2017 (dollars in thousands) Intersegment Revenue - Cement $ 14,408 $ 16,442 $ 15,781 Concrete and Aggregates 1,422 1,335 1,262 Paperboard 66,723 70,347 62,073 $ 82,553 $ 88,124 $ 79,116 Cement Sales Volume (M tons) - Wholly Owned 4,441 4,453 3,934 Joint Venture 899 912 937 5,340 5,365 4,871 For the Years Ended March 31, 2019 2018 2017 (dollars in thousands) Operating Earnings - Cement $ 164,782 $ 179,151 $ 153,525 Concrete and Aggregates 12,866 17,854 18,072 Gypsum Wallboard 180,831 158,551 159,866 Paperboard 35,349 32,758 37,601 Oil and Gas Proppants (28,695 ) (6,139 ) (14,633 ) Sub-Total 365,133 382,175 354,431 Corporate General and Administrative Expense (37,371 ) (41,205 ) (33,940 ) Impairment Losses (220,265 ) — — Litigation Settlements and Losses (1,800 ) (45,098 ) — Other Non-Operating Income 2,412 3,728 2,139 Acquisition and Litigation Expense — — (5,480 ) Earnings Before Interest and Income Taxes 108,109 299,600 317,150 Interest Expense, net (28,374 ) (27,638 ) (22,631 ) Earnings Before Income Taxes $ 79,735 $ 271,962 $ 294,519 Cement Operating Earnings - Wholly Owned $ 126,217 $ 135,732 $ 111,139 Joint Ventures 38,565 43,419 42,386 $ 164,782 $ 179,151 $ 153,525 Capital Expenditures - Cement $ 76,504 $ 45,088 $ 32,790 Concrete and Aggregates 6,649 4,977 6,528 Gypsum Wallboard 10,724 19,382 11,393 Paperboard 16,603 5,177 3,996 Oil and Gas Proppants 52,286 56,872 1,534 Other, net 6,107 461 697 $ 168,873 $ 131,957 $ 56,938 Depreciation, Depletion and Amortization - Cement $ 52,802 $ 50,891 $ 36,727 Concrete and Aggregates 8,176 7,931 7,931 Gypsum Wallboard 20,020 18,179 18,728 Paperboard 8,541 8,694 8,425 Oil and Gas Proppants 31,328 26,872 18,255 Corporate and Other 1,668 1,448 1,725 $ 122,535 $ 114,015 $ 91,791 As of March 31, 2019 2018 2017 (dollars in thousands) Identifiable Assets Cement $ 1,289,468 $ 1,247,504 $ 1,234,617 Concrete and Aggregates 95,084 104,851 110,413 Gypsum Wallboard 372,206 386,041 379,414 Paperboard 138,614 123,819 124,356 Oil and Gas Proppants 236,357 444,826 376,306 Other, net 37,434 60,962 22,018 $ 2,169,163 $ 2,368,003 $ 2,247,124 Segment Operating Earnings, including the proportionately consolidated 50% interest in the revenue and expenses of the Joint Venture, represent Revenue less direct operating expenses, segment Depreciation, and segment Selling, General, and Administrative expenses. Segment Operating Earnings don’t include certain non-recurring losses, such as impairment and legal settlements. We account for intersegment sales at market prices. Corporate assets consist primarily of cash and cash equivalents, general office assets, and miscellaneous other assets. The basis used to disclose Identifiable Assets; Capital Expenditures; and Depreciation, Depletion, and Amortization conforms with the equity method, and is similar to how we disclose these accounts in our Consolidated Balance Sheets and Consolidated Statements of Earnings. The segment breakdown of Goodwill at March 31, For the Years Ended March 31, 2019 2018 (dollars in thousands) Cement $ 74,214 $ 74,214 Gypsum Wallboard 116,618 116,618 Paperboard 7,538 7,538 Oil and Gas Proppants - 6,841 $ 198,370 $ 205,211 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 accounts.) For the Years Ended March 31, 2019 2018 (dollars in thousands) Revenue $ 212,818 $ 216,533 Gross Margin $ 83,270 $ 91,647 Earnings Before Income Taxes $ 77,131 $ 86,838 March 31, 2019 March 31, 2018 (dollars in thousands) Current Assets $ 71,688 $ 71,089 Non-Current Assets $ 88,834 $ 66,856 Current Liabilities $ 19,309 $ 20,671

INCOME TAXES

INCOME TAXES	12 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	(G) Income Taxes The provision for income taxes includes the following components: For the Years Ended March 31, 2019 2018 2017 (dollars in thousands) Current Provision (Benefit) - Federal $ 32,710 $ 58,695 $ 86,459 State 6,536 5,989 7,638 39,246 64,684 94,097 Deferred Provision (Benefit) - Federal (21,039 ) (52,333 ) 7,274 State (7,332 ) 2,979 (5,071 ) (28,371 ) (49,354 ) 2,203 Provision for Income Taxes $ 10,875 $ 15,330 $ 96,300 The effective tax rates vary from the federal statutory rates due to the following items: For the Years Ended March 31, 2019 2018 2017 (dollars in thousands) Earnings Before Income Taxes $ 79,735 $ 271,962 $ 294,519 Income Taxes at Statutory Rate $ 16,744 $ 85,804 $ 103,082 Increases (Decreases) in Tax Resulting from - State Income Taxes, net (629 ) 6,139 1,668 Statutory Depletion in Excess of Cost (3,834 ) (6,341 ) (1,216 ) Domestic Production Activities Deduction — (5,995 ) (7,615 ) Excess Tax Benefit from Stock Compensation (651 ) (4,129 ) — Meals and Entertainment Disallowance 610 567 626 Limitation on Officer's Compensation 1,434 246 — Impact of Tax Cuts and Jobs Act of 2017 — (61,692 ) — Credits (940 ) — — Valuation Allowance (2,100 ) — — Other 241 731 (245 ) Provision for Income Taxes $ 10,875 $ 15,330 $ 96,300 Effective Tax Rate 14 % 6 % 33 % Components of deferred income taxes are as follows: March 31, 2019 2018 (dollars in thousands) Items Giving Rise to Deferred Tax Liabilities - Excess Tax Depreciation and Amortization $ (108,505 ) $ (106,367 ) Depletion — (11,069 ) State Income Taxes, net (9,236 ) (14,265 ) Other (5,628 ) (5,957 ) Total Deferred Tax Liabilities $ (123,369 ) $ (137,658 ) Items Giving Rise to Deferred Tax Assets - Change in Accruals $ 8,601 $ 8,965 Depletable Assets 8,995 — Inventory 6,046 4,276 Bad Debts 2,169 1,891 Long-term Incentive Compensation Plan 5,154 4,616 Credits and Other Carryforwards 12,289 12,879 Pension 921 1,108 Subtotal 44,175 33,735 Valuation Allowance (11,565 ) (15,043 ) Total Deferred Tax Assets $ 32,610 $ 18,692 We record Deferred Tax assets and Liabilities based upon estimates of their realizable value with such estimates based upon likely future tax consequences. In assessing the need for a valuation allowance, we consider both positive and negative evidence related to the likelihood of realization of the Deferred Tax Assets. If, based on the weight of available evidence, it is more likely than not that a Deferred Tax Asset will not be realized, we record a valuation allowance. We have state income tax investment credits of $2.0 million, net of Valuation Allowances. The state investment credits may be carried forward indefinitely. During fiscal 2019, we recorded a decrease in the valuation allowance against our Deferred Tax Assets of $2.1 million. This decrease relates to changes in estimates of the realizability of certain deferred tax assets related to the long-term incentive compensation plan. Uncertain tax positions We are subject to audit examinations at federal, state, and local levels by tax authorities in those jurisdictions who may challenge the treatment or reporting of any return item. The tax matters challenged by the tax authorities are typically complex; therefore, the ultimate outcome of these challenges is subject to uncertainty. There were no uncertain tax positions at March 31, 2019, 2018, and 2017. Tax Cuts and Jobs Act The Tax Cuts and Jobs Act (the Act) was enacted on December 22, 2017. The Act, among other changes, reduces the U.S. federal corporate tax rate from 35% to 21%, allows for the immediate 100% deductibility of certain capital expenditures, repeals the domestic production deduction, and further limits the deductibility of certain executive compensation. In December 2017, we recorded a tax benefit of $61.0 million related to the change in corporate tax rates that reduced our deferred tax liabilities after the initial assessment of the tax effects of the Act. In the quarter ended December 31, 2018, we finalized our accounting for the Act with no material changes from our provisional calculations.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Mar. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	(H) Commitments and Contingencies Our operations and properties are subject to extensive and changing federal, state, and local laws; regulations and ordinances governing the protection of the environment; as well as laws relating to worker health and workplace safety. We carefully consider the requirements mandated by such laws and regulations and have procedures in place at all of our operating units to monitor compliance. Any matters which are identified as potential exposures under these laws and regulations are carefully reviewed by management to determine our potential liability. Although management is not aware of any exposures which require an accrual under generally accepted accounting principles, there can be no assurance that prior or future operations will not ultimately result in violations, claims, or other liabilities associated with these regulations. 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 March 31, We are currently contingently liable for performance under $26.3 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. Domestic Wallboard Antitrust Litigation Since late December 2012, several purported class action lawsuits were filed in various federal district courts, against the Company’s subsidiary, American Gypsum Company LLC (American Gypsum) and other wallboard manufacturers, 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 Company and American Gypsum denied all allegations that they conspired to increase the price of drywall and asserted affirmative defenses to the plaintiffs’ claims. On December 29, 2017, American Gypsum and the Company, entered into a settlement agreement (the Direct Purchaser Settlement Agreement) with counsel representing the direct purchaser class to settle all claims made against the Company, American Gypsum, and other manufacturers in the direct purchaser class action. The Direct Purchaser Settlement Agreement, in which the Company and American Gypsum deny all wrongdoing, also includes releases by the participating class members of the Company and American Gypsum as well as their subsidiaries, affiliates, and other related parties, for the time period from January 1, 2012 through the date of execution of the Direct Purchaser Settlement Agreement. On January 5, 2018, American Gypsum entered into a settlement agreement (the Indirect Purchaser Settlement Agreement) with counsel representing the indirect purchaser class to settle all claims against American Gypsum and the other manufacturers in the indirect purchaser class action. Under the Direct and Indirect Purchaser Settlement Agreements, the Company and American Gypsum agreed to pay a total of approximately $39.1 million in cash to settle the claims against them. These claims were accrued during March 2018, and we deposited approximately $38.8 million into a qualified settlement fund. The amount accrued under the Direct Purchaser Settlement Agreement was paid in July 2018 after approval by the District Court. In March 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. Effective May 8, 2018, American Gypsum and the homebuilder plaintiffs entered into a settlement agreement (the Homebuilder Settlement Agreement) to settle all claims made against American Gypsum. The Homebuilder Settlement Agreement, in which American Gypsum denies all wrongdoing, includes releases by the homebuilder plaintiffs of American Gypsum as well as its subsidiaries, affiliates, and other related parties, for the time period prior to and including the date of execution of the Homebuilder Settlement Agreement. Under the Homebuilder Settlement Agreement, American Gypsum agreed to pay a total of $6.0 million in cash to settle the claims against it. At March 31, 2018, we accrued the total amount of this settlement, and this amount was paid in May 2018. 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, was related to the same subject matter at issue in the litigation described above. On August 24, 2018, the Antitrust Division notified us that the investigation had been closed. Other 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 the sale of a business. These indemnifications might include claims relating to any of the following: environmental and tax matters; intellectual property rights; governmental regulations and employment-related matters; customer, supplier, construction contractor, and other commercial contractual relationships; and financial matters. While the maximum amount to which we 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 the Company’s consolidated financial position, results of operations, or cash flows. We currently have no outstanding guarantees of third-party debt. We have certain forward purchase contracts, primarily for natural gas, that expire during calendar We have certain operating leases covering manufacturing, transportation, a quarry and certain other facilities and equipment. Rental expense for fiscal years Fiscal Year Amount 2020 $ 14,613 2021 $ 11,487 2022 $ 9,979 2023 $ 9,784 2024 $ 8,347 Thereafter $ 24,793

STOCK OPTION PLANS

STOCK OPTION PLANS	12 Months Ended
	Mar. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
STOCK OPTION PLANS	(I) Stock Option Plans On August 7, Long-Term Compensation Plans Options In May In August All stock options issued during fiscal 2019 2018 Dividend Yield 1.3 % 1.3 % Expected Volatility 32.7 % 36.5 % Risk Free Interest Rate 2.85 % 2.10 % Expected Life 6.0 years 6.0 years Stock option expense for all outstanding stock option awards was approximately $3.8 million, $4.3 million, and $5.3 million for the years ended March 31, The following table shows stock option activity for the years presented: For the Years Ended March 31, 2019 2018 2017 Number of Shares Weighted Average Exercise Price Number of Shares Weighted Average Exercise Price Number of Shares Weighted Average Exercise Price Outstanding Options at Beginning of Year 958,136 $ 72.52 1,323,379 $ 66.07 1,817,763 $ 53.03 Granted 125,734 $ 103.53 119,986 $ 100.20 202,364 $ 77.76 Exercised (38,748 ) $ 54.27 (448,295 ) $ 60.27 (677,566 ) $ 34.46 Cancelled (2,197 ) $ 100.88 (36,934 ) $ 79.97 (19,182 ) $ 70.30 Outstanding Options at End of Year 1,042,925 $ 76.88 958,136 $ 72.52 1,323,379 $ 66.07 Options Exercisable at End of Year 651,218 651,218 874,116 Weighted Average Fair Value of Options Granted during the Year $ 33.11 $ 33.37 $ 25.22 The following table summarizes information about stock options outstanding at March 31, Options Outstanding Options Exercisable 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 65,912 2.35 $ 23.27 65,912 $ 23.27 $33.43 - $37.34 81,288 3.21 $ 33.99 81,288 $ 33.99 $53.22 - $77.67 303,163 6.20 $ 71.34 219,673 $ 70.69 $79.73 - $106.24 592,562 7.01 $ 91.55 394,691 $ 87.02 1,042,925 6.18 $ 76.88 761,564 $ 71.13 At March 31, Restricted Stock In May In August The fair value of restricted stock is estimated based on the stock price at the date of the grant. The following table summarizes the activity for nonvested restricted shares during the fiscal years ended March 31, 2019 and 2018: For the Years Ended March 31, 2019 2018 Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Nonvested Restricted Stock at Beginning of Year 328,059 $ 72.52 371,213 $ 66.07 Granted 121,836 $ 105.73 107,964 $ 100.20 Vested (147,790 ) $ 75.94 (119,187 ) $ 60.27 Forfeited (1,990 ) $ 100.88 (31,931 ) $ 79.97 Nonvested Restricted Stock at End of Year 300,115 $ 78.94 328,059 $ 72.52 Expense related to restricted shares was $11.3 million, $9.6 million, and $6.8 million in fiscal years ended March 31, The number of shares available for future grants of stock options, restricted stock units, stock appreciation rights, and restricted stock under the Plan was 3,978,814 at March 31,

NET INTEREST EXPENSE

NET INTEREST EXPENSE	12 Months Ended
	Mar. 31, 2019
Banking And Thrift Interest [Abstract]
NET INTEREST EXPENSE	(J) Net Interest Expense The following components are included within Interest Expense, net: For the Years Ended March 31, 2019 2018 2017 (dollars in thousands) Interest Income $ (123 ) $ (14 ) $ (40 ) Interest Expense 27,329 26,433 21,595 Other Expenses 1,168 1,219 1,076 Interest Expense, net $ 28,374 $ 27,638 $ 22,631 Interest Income includes interest earned on investments of excess cash. Components of Interest Expense include interest associated with the Credit Facility, Senior Unsecured Notes, Private Placement Senior Unsecured Notes, and commitment fees based on the unused portion of the Credit Facility. Other Expenses include amortization of debt issuance costs, and bank credit facility costs.

PENSION AND PROFIT SHARING PLAN

PENSION AND PROFIT SHARING PLANS	12 Months Ended
	Mar. 31, 2019
Compensation And Retirement Disclosure [Abstract]
PENSION AND PROFIT SHARING PLANS	(K) Pension and Profit Sharing Plans We offer our employees multiple retirement and profit sharing plans. Pension Plans We have several defined benefit and defined contribution retirement plans which together cover substantially all of our employees. Benefits paid under the defined benefit plans covering certain hourly employees are based on years of service and each employee’s qualifying compensation over the last few years of employment. Our funding policy is to generally contribute amounts that are deductible for income tax purposes. The annual measurement date is March 31 for the benefit obligations, fair value of plan assets, and the funded status of the defined benefit plans. The following table provides a reconciliation of the obligations and fair values of plan assets for all defined benefit plans over the two-year period ended March 31, For the Years Ended March 31, 2019 2018 (dollars in thousands) Reconciliation of Benefit Obligations - Benefit Obligation at April 1, $ 33,370 $ 40,589 Service Cost - Benefits Earned During the Period 399 710 Interest Cost on Projected Benefit Obligation 1,347 1,466 Actuarial (Gain) Loss (306 ) (4,505 ) Settlement — (3,857 ) Benefits Paid (1,080 ) (1,033 ) Benefit Obligation at March 31, $ 33,730 $ 33,370 Reconciliation of Fair Value of Plan Assets - Fair Value of Plan Assets at April 1, $ 33,412 $ 26,410 Actual Return on Plan Assets 2,169 2,805 Employer Contributions 2,040 9,087 Settlement — (3,857 ) Benefits Paid (1,080 ) (1,033 ) Fair Value of Plans at March 31, 36,541 33,412 Funded Status - Funded Status at March 31, $ 2,811 $ 42 Amounts Recognized in the Balance Sheet Consist of - Other Assets $ 2,811 $ — Prepaid and Other Assets — 538 Accrued Benefit Liability — (496 ) Accumulated Other Comprehensive Losses: Net Actuarial Loss 4,346 5,198 Prior Service Cost 19 80 Accumulated Other Comprehensive Losses $ 4,365 $ 5,278 Reclassification to Retained Earnings — 978 Tax impact (1,049 ) (2,244 ) Accumulated Other Comprehensive Losses, net of tax $ 3,316 $ 4,012 The table below summarizes the Company’s Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets at March 31, 2019 and 2018: March 31, 2019 2018 (dollars in thousands) Projected Benefit Obligation $ 33,730 $ 33,370 Accumulated Benefit Obligation $ 33,727 $ 33,367 Fair Value of Plan Assets $ 36,541 $ 33,412 Net periodic pension cost for the fiscal years ended March 31, For the Years Ended March 31, 2019 2018 2017 (dollar in thousands) Service Cost - Benefits Earned During the Period $ 399 $ 710 $ 1,001 Interest Cost of Projected Benefit Obligation 1,347 1,466 1,584 Expected Return on Plan Assets (1,853 ) (2,137 ) (1,606 ) Recognized Net Actuarial Loss 230 566 1,712 Amortization of Prior-Service Cost 61 269 359 Settlement — 649 — Net Periodic Pension Cost $ 184 $ 1,523 $ 3,050 During the fourth quarter of fiscal 2018, we offered to pay our deferred vested participants that no longer worked for the Company but were not yet retired. We paid approximately $3.9 million to these participants in March 2018. In connection with this payment, we recognized a settlement cost of approximately $0.6 million. Expected benefit payments over the next five years, and the following five years under the pension plans are expected to be as follows (dollars in thousands): Fiscal Years Total 2020 $ 1,411 2021 $ 1,515 2022 $ 1,602 2023 $ 1,657 2024 $ 1,702 2025-2029 $ 9,702 The following tables set forth the assumptions used in the actuarial calculations of the present value of Net Periodic Benefit Costs and Benefit Obligations: March 31, 2019 2018 2017 Net Periodic Benefit Costs - Discount Rate 4.12 % 4.03 % 3.83 % Expected Return on Plan Assets 5.50 % 7.50 % 7.50 % Rate of Compensation Increase 3.50 % 3.50 % 3.50 % March 31, 2019 2018 Benefit Obligations - Discount Rate 4.09 % 4.12 % Rate of Compensation Increase 3.50 % 3.50 % The expected long-term rate of return on plan assets is an assumption reflecting the anticipated weighted-average rate of earnings on the portfolio over the long-term. To determine this rate, we developed estimates of the key components underlying capital asset returns including: market-based estimates of inflation, real risk-free rates of return, yield curve structure, credit risk premiums, and equity risk premiums. We used these components as appropriate to develop benchmark estimates of the expected long-term management approach employed by us. The pension plans’ approximate weighted-average asset allocation at March 31, Percentage of Plan Assets at March 31, Range of Target Allocation 2019 2018 Asset Category - Equity Securities 10 – 20% 14 % 50 % Debt Securities 60 – 90% 85 % 47 % Other 0 – 20% 1 % 3 % Total 100 % 100 % Our pension investment strategies have been developed as part of a comprehensive management process that considers the interaction between the assets and liabilities within each plan. These strategies consider not only the expected risk and returns on plan assets, but also the detailed actuarial projections of liabilities as well as plan-level objectives such as projected contributions, expense, and funded status. The principal pension investment strategies include asset allocation and active asset management. The range of target asset allocations has been determined given the current funded status of the plan. Each asset class is actively managed by one or more external money managers with the objective of generating returns, net of management fees, that exceed market-based benchmarks. None of the plans hold any EXP stock. Based on our current actuarial estimates, we anticipate making contributions ranging from approximately $0.5 million to $1.0 million to our defined benefit plans for fiscal year The fair values of our defined benefit plans’ consolidated assets by category as of March 31, March 31, 2019 2018 (dollars in thousands) Equity Securities $ 4,525 $ 16,533 Fixed Income Securities 31,516 15,799 Real Estate Funds 144 163 Commodity Linked Funds 212 213 Cash Equivalents 144 704 Total $ 36,541 $ 33,412 The fair values of our defined benefit plans’ consolidated assets were determined using the fair value hierarchy of inputs described in Footnote (A) to the Consolidated Financial Statements. The fair values by category of inputs as of March 31, Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Asset Categories (dollars in thousands) Equity Securities $ — $ 4,525 $ — $ 4,525 Fixed Income Securities — 31,516 — 31,516 Real Estate Funds — 144 — 144 Commodity Linked Funds — 212 — 212 Cash Equivalents 144 — — 144 $ 144 $ 36,397 $ — $ 36,541 The fair values by category of inputs as of March 31, 2018 were as follows: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Asset Categories (dollars in thousands) Equity Securities $ — $ 16,533 $ — $ 16,533 Fixed Income Securities — 15,799 — 15,799 Real Estate Funds — 163 — 163 Commodity Linked Funds — 213 — 213 Cash Equivalents 704 — — 704 $ 704 $ 32,708 $ — $ 33,412 Equity securities consist of funds that are not actively traded. These funds are maintained by an investment manager and are primarily invested in indexes. The remaining funds, excluding cash, primarily consist of investments in institutional funds. Profit Sharing Plans We also provide profit sharing plans, which cover substantially all salaried and certain hourly employees. The profit sharing plans are defined contribution plans funded by employer discretionary contributions; employees may also contribute a certain percentage of their base annual salary. Employees are fully vested in their own contributions and become fully vested in any Company contributions over a six-year period for salaried employees and a three-year period for hourly employees. Costs relating to the employer discretionary contributions for our contribution plan totaled $8.0 million, $8.4 million, and $6.4 million in fiscal years Individuals who became our employees as a result of a previous transaction are provided benefits substantially comparable to those provided under the seller’s benefit plans. These plans included the seller’s 401(k) plan which allows for employer matching percentages of hourly employees. As a result, we made matching contributions to the hourly profit sharing plan totaling $0.6 million, $0.6 million, and $0.3 million for these employees during fiscal years Approximately fifty of our employees belong to three different multi-employer plans. The collective bargaining agreements for the employees who participate in the multi-employer plans expire in March

FINANCIAL STATEMENTS FOR GUARAN

FINANCIAL STATEMENTS FOR GUARANTORS OF THE 4.500% SENIOR UNSECURED NOTES	12 Months Ended
	Mar. 31, 2019
Organization Consolidation And Presentation Of Financial Statements [Abstract]
FINANCIAL STATEMENTS FOR GUARANTORS OF THE 4.500% SENIOR UNSECURED NOTES	(L) FINANCIAL STATEMENTS FOR GUARANTORS OF THE 4.500% SENIOR UNSECURED NOTES On August 2, 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, Balance Sheet, 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 Year Ended March 31, 2019 Parent Guarantor Subsidiaries Eliminations Consolidated Revenue $ — $ 1,393,241 $ — $ 1,393,241 Cost of Goods Sold — 1,066,673 — 1,066,673 Gross Profit — 326,568 — 326,568 Equity in Earnings of Unconsolidated Joint Venture 38,565 38,565 (38,565 ) 38,565 Equity in Earnings of Subsidiaries 77,954 — (77,954 ) — Corporate General and Administrative Expenses (31,744 ) (5,627 ) — (37,371 ) Impairment Losses — (220,265 ) — (220,265 ) Legal Settlements — (1,800 ) — (1,800 ) Other Non-Operating Income (391 ) 2,802 — 2,411 Interest Expense, net (28,324 ) (49 ) — (28,373 ) Earnings before Income Taxes 56,060 140,194 (116,519 ) 79,735 Income Taxes 12,800 (23,675 ) — (10,875 ) Net Earnings $ 68,860 $ 116,519 $ (116,519 ) $ 68,860 Net Earnings $ 68,860 $ 116,519 $ (116,519 ) $ 68,860 Net Actuarial Change in Benefit Plans, net of tax 696 696 (696 ) 696 Comprehensive Earnings $ 69,556 $ 117,215 $ (117,215 ) $ 69,556 Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Year Ended March 31, 2018 Parent Guarantor Subsidiaries Eliminations Consolidated Revenue — $ 1,386,520 $ — $ 1,386,520 Cost of Goods Sold — 1,047,764 — 1,047,764 Gross Profit — 338,756 — 338,756 Equity in Earnings of Unconsolidated Joint Venture 43,419 43,419 (43,419 ) 43,419 Equity in Earnings of Subsidiaries 289,950 — (289,950 ) - Corporate General and Administrative Expenses (37,825 ) (3,380 ) — (41,205 ) Legal Settlements (45,098 ) — — (45,098 ) Other Non-Operating Income (233 ) 3,961 — 3,728 Interest Expense, net (27,609 ) (29 ) — (27,638 ) Earnings before Income Taxes 222,604 382,727 (333,369 ) 271,962 Income Taxes 34,028 (49,358 ) — (15,330 ) Net Earnings $ 256,632 $ 333,369 $ (333,369 ) $ 256,632 Net Earnings $ 256,632 $ 333,369 $ (333,369 ) 256,632 Net Actuarial Change in Benefit Plans, net of tax 3,384 3,384 (3,384 ) 3,384 Comprehensive Earnings $ 260,016 $ 336,753 $ (336,753 ) $ 260,016 Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Year Ended March 31, 2017 Parent Guarantor Subsidiaries Eliminations Consolidated Revenue $ — $ 1,211,220 $ — $ 1,211,220 Cost of Goods Sold — 899,175 — 899,175 Gross Profit — 312,045 — 312,045 Equity in Earnings of Unconsolidated Joint Venture 42,386 42,386 (42,386 ) 42,386 Equity in Earnings of Subsidiaries 210,923 — (210,923 ) — Corporate General and Administrative Expenses (28,545 ) (5,395 ) — (33,940 ) Other Non-Operating Income (534 ) 2,673 — 2,139 Acquisition-Related Expense (5,480 ) — — (5,480 ) Interest Expense, net (51,315 ) 28,684 — (22,631 ) Earnings before Income Taxes 167,435 380,393 (253,309 ) 294,519 Income Taxes 30,784 (127,084 ) — (96,300 ) Net Earnings $ 198,219 $ 253,309 $ (253,309 ) $ 198,219 Net Earnings $ 198,219 $ 253,309 $ (253,309 ) $ 198,219 Net Actuarial Change in Benefit Plans, net of tax 4,013 4,013 (4,013 ) 4,013 Comprehensive Earnings $ 202,232 $ 257,322 $ (257,322 ) $ 202,232 Condensed Consolidating Balance Sheet At March 31, 2019 Parent Guarantor Subsidiaries Eliminations Consolidated ASSETS Current Assets - Cash and Cash Equivalents $ 5,779 $ 2,822 $ — $ 8,601 Accounts and Notes Receivable 437 128,285 — 128,722 Inventories — 275,194 — 275,194 Income Tax Receivable 5,480 — — 5,480 Prepaid and Other Current Assets 1,472 8,152 — 9,624 Total Current Assets 13,168 414,453 — 427,621 Property, Plant and Equipment, net 7,756 1,419,183 — 1,426,939 Notes Receivable — 2,898 — 2,898 Investment in Joint Venture 70 64,803 — 64,873 Investments in Subsidiaries and Receivables from Affiliates 2,322,335 406,726 (2,729,061 ) — Goodwill and Intangible Assets, net — 229,115 — 229,115 Other Assets 4,571 13,146 — 17,717 $ 2,347,900 $ 2,550,324 $ (2,729,061 ) $ 2,169,163 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities- Accounts Payable $ 5,520 $ 75,364 $ — $ 80,884 Accrued Liabilities 22,470 39,479 — 61,949 Current Portion of Long-term Debt 36,500 — — 36,500 Total Current Liabilities 64,490 114,843 — 179,333 Long-term Debt 655,092 — — 655,092 Other Long-term Liabilities 3,303 31,189 — 34,492 Payables to Affiliates 406,727 5,730,093 (6,136,820 ) — Deferred Income Taxes 8,801 81,958 — 90,759 Total Liabilities 1,138,413 5,958,083 (6,136,820 ) 959,676 Total Stockholders’ Equity 1,209,487 (3,407,759 ) 3,407,759 1,209,487 $ 2,347,900 $ 2,550,324 $ (2,729,061 ) $ 2,169,163 Condensed Consolidating Balance Sheet At March 31, 2018 Parent Guarantor Subsidiaries Eliminations Consolidated ASSETS Current Assets - Cash and Cash Equivalents $ 5,784 $ 3,531 $ — $ 9,315 Restricted Cash 38,753 — 38,753 Accounts and Notes Receivable 407 141,278 — 141,685 Inventories — 258,159 — 258,159 Income Tax Receivable 109,510 — (103,760 ) 5,750 Prepaid and Other Current Assets 665 4,408 — 5,073 Total Current Assets 155,119 407,376 (103,760 ) 458,735 Property, Plant and Equipment, net 2,099 1,593,200 — 1,595,299 Notes Receivable — 115 — 115 Investment in Joint Venture 70 60,488 — 60,558 Investments in Subsidiaries and Receivables from Affiliates 2,718,809 762,340 (3,481,149 ) — Goodwill and Intangible Assets, net — 239,342 — 239,342 Other Assets 5,417 8,537 — 13,954 $ 2,881,514 $ 3,071,398 $ (3,584,909 ) $ 2,368,003 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities- Accounts Payable $ 5,591 $ 67,868 $ — $ 73,459 Accrued Liabilities 67,387 38,483 — 105,870 Income Tax Payable — 103,760 (103,760 ) — Current Portion of Long-term Debt — — — — Total Current Liabilities 72,978 210,111 (103,760 ) 179,329 Long-term Debt 620,922 — — 620,922 Other Long-term Liabilities 124 30,972 — 31,096 Payables to Affiliates 762,340 5,608,236 (6,370,576 ) — Deferred Income Taxes 7,460 111,506 — 118,966 Total Liabilities 1,463,824 5,960,825 (6,474,336 ) 950,313 Total Stockholders’ Equity 1,417,690 (2,889,427 ) 2,889,427 1,417,690 $ 2,881,514 $ 3,071,398 $ (3,584,909 ) $ 2,368,003 Condensed Consolidating Statement of Cash Flows For the Year Ended March 31, 2019 Parent Guarantor Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES Net Cash Provided by (Used in) Operating Activities $ 33,997 $ 316,287 $ — $ 350,284 CASH FLOWS FROM INVESTING ACTIVITIES Additions to Property, Plant, and Equipment (6,107 ) (162,766 ) — (168,873 ) Proceeds from Sales of Property, Plant, and Equipment — 2,281 — 2,281 Net Cash Used in Investing Activities (6,107 ) (160,485 ) — (166,592 ) CASH FLOWS FROM FINANCING ACTIVITIES Increase in Credit Facility 70,000 — — 70,000 Dividends Paid to Stockholders (18,927 ) — — (18,927 ) Purchase and Retirement of Common Stock (271,988 ) — — (271,988 ) Proceeds from Stock Option Exercises 2,103 — — 2,103 Shares Redeemed to Settle Employee Taxes on Stock Compensation (4,347 ) — — (4,347 ) Intra-entity Activity, net 156,511 (156,511 ) — — Net Cash Provided by (Used in) Financing Activities (66,648 ) (156,511 ) — (223,159 ) NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (38,758 ) (709 ) — (39,467 ) CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 44,537 3,531 — 48,068 CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 5,779 $ 2,822 $ — $ 8,601 Condensed Consolidating Statement of Cash Flows For the Year Ended March 31, 2018 Parent Guarantor Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES Net Cash Provided by (Used in) Operating Activities $ (83,947 ) $ 421,612 $ — $ 337,665 CASH FLOWS FROM INVESTING ACTIVITIES Additions to Property, Plant, and Equipment (142 ) (131,815 ) — (131,957 ) Investment in Subsidiaries (36,761 ) — 36,761 — Acquisition Spending — (36,761 ) — (36,761 ) Net Cash Used in Investing Activities (36,903 ) (168,576 ) 36,761 (168,718 ) CASH FLOWS FROM FINANCING ACTIVITIES Increase in Credit Facility 15,000 — — 15,000 Repayment of Private Placement Senior Unsecured Notes (81,214 ) — — (81,214 ) Dividends Paid to Stockholders (19,438 ) — — (19,438 ) Purchase and Retirement of Common Stock (61,078 ) — — (61,078 ) Proceeds from Stock Option Exercises 24,264 — — 24,264 Shares Redeemed to Settle Employee Taxes on Stock Compensation (4,974 ) — — (4,974 ) Intra-entity Activity, net 287,643 (250,882 ) (36,761 ) — Net Cash Provided by (Used in) Financing Activities 160,203 (250,882 ) (36,761 ) (127,440 ) NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 39,353 2,154 — 41,507 CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 5,184 1,377 — 6,561 CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 44,537 $ 3,531 $ — $ 48,068 Condensed Consolidating Statement of Cash Flows For the Year Ended March 31, 2017 Parent Guarantor Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES Net Cash Provided by (Used in) Operating Activities $ (64,376 ) $ 395,974 $ — $ 331,598 CASH FLOWS FROM INVESTING ACTIVITIES Additions to Property, Plant, and Equipment (697 ) (56,241 ) — (56,938 ) Investment in Subsidiaries (400,488 ) — 400,488 — Acquisition Spending — (400,488 ) — (400,488 ) Net Cash Used in Investing Activities (401,185 ) (456,729 ) 400,488 (457,426 ) CASH FLOWS FROM FINANCING ACTIVITIES Increase in Credit Facility (157,000 ) — — (157,000 ) Repayment of Private Placement Senior Unsecured Notes (8,000 ) — — (8,000 ) Issuance of Senior Unsecured Notes 350,000 — — 350,000 Payment of Debt Issuance Costs (6,637 ) — — (6,637 ) Dividends Paid to Stockholders (19,341 ) — — (19,341 ) Purchase and Retirement of Common Stock (60,013 ) — — (60,013 ) Proceeds from Stock Option Exercises 22,108 — — 22,108 Shares Redeemed to Settle Employee Taxes on Stock Compensation (4,468 ) — — (4,468 ) Excess Tax Benefits from Share Based Payment Arrangements 10,349 — — 10,349 Intra-entity Activity, net 340,240 60,248 (400,488 ) — Net Cash Provided by (Used in) Financing Activities 467,238 60,248 (400,488 ) 126,998 NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 1,677 (507 ) — 1,170 CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 3,507 1,884 — 5,391 CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 5,184 $ 1,377 $ — $ 6,561

QUARTERLY RESULTS (UNAUDITED)

QUARTERLY RESULTS (UNAUDITED)	12 Months Ended
	Mar. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY RESULTS (UNAUDITED)	(M) Quarterly Results (unaudited) For the Years Ended March 31, 2019 2018 (dollars in thousands, except per share data) First Quarter - Revenue $ 393,756 $ 366,121 Gross Profit 91,634 86,059 Earnings Before Income Taxes 85,021 79,530 Net Earnings 66,339 54,882 Diluted Earnings Per Share $ 1.38 $ 1.13 Second Quarter - Revenue $ 381,499 $ 376,315 Gross Profit 97,931 96,754 Earnings Before Income Taxes 91,793 92,319 Net Earnings 72,603 63,362 Diluted Earnings Per Share $ 1.53 $ 1.31 Third Quarter - Revenue $ 333,285 $ 359,371 Gross Profit 80,421 94,566 Earnings Before Income Taxes 74,518 51,388 Net Earnings 57,715 101,380 Diluted Earnings Per Share $ 1.24 $ 2.08 Fourth Quarter - Revenue $ 284,701 $ 284,713 Gross Profit 56,582 61,377 Loss Before Income Taxes (171,597 ) 48,725 Net Loss (127,797 ) 37,008 Diluted Loss Per Share $ (2.82 ) $ 0.76 The fourth quarter of fiscal 2019 included a pre-tax impairment loss of approximately $220.3 million related to the Oil and Gas Proppants segment. See Footnote (A) for more information. The fourth quarter of fiscal 2018 included a $6.0 million pre-tax expense related to the Homebuilder Settlement Agreement and $4.0 million of personnel-related expenses, including an increased contribution to the profit sharing plan and a pension settlement expense.

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements include the accounts of Eagle Materials Inc. and its majority-owned subsidiaries (the Company), which may be referred to as we, our, or us. All intercompany balances and transactions have been eliminated. The Company is a holding company whose assets consist of its investments in its subsidiaries, joint venture, intercompany balances and holdings of cash and cash equivalents. The businesses of the consolidated group are conducted through the Company’s subsidiaries. The Company conducts one of its cement plant operations through a joint venture, Texas Lehigh Cement Company L.P., which is located in Buda, Texas (the Joint Venture). Our investment in the Joint Venture is accounted for using the equity method of accounting, and those results have been included for the same period as our March 31 fiscal year end. The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash Equivalents include short-term, highly liquid investments with original maturities of three months or less and are recorded at cost, which approximates market value.
Restricted Cash	Restricted Cash Restricted Cash included amounts deposited in a qualified settlement fund. These amounts were deposited in relation to our settlement of a class action lawsuit and upon final approval of the District Court, these funds were transferred to the plaintiff’s attorneys. See Footnote (H) for more information regarding the lawsuit and settlement.
Accounts and Notes Receivable	Accounts and Notes Receivable Accounts and Notes Receivable have been shown net of the allowance for doubtful accounts of $9.9 million and $8.6 million at March 31, We had Notes Receivable totaling approximately $3.6 million at March 31,
Inventories	Inventories Inventories are stated at the lower of average cost (including applicable material, labor, depreciation, and plant overhead) or net realizable value. Inventories consist of the following: March 31, 2019 2018 (dollars in thousands) Raw Materials and Materials-in-Progress $ 125,828 $ 121,628 Finished Cement 27,826 24,089 Aggregates 7,351 7,787 Gypsum Wallboard 7,124 8,477 Paperboard 15,660 8,602 Frac Sand 2,557 1,696 Repair Parts and Supplies 80,676 79,878 Fuel and Coal 8,172 6,002 $ 275,194 $ 258,159
Property, Plant and Equipment	Property, Plant, and Equipment Property, Plant, and Equipment are stated at cost. Major renewals and improvements are capitalized and depreciated. Annual maintenance is expensed as incurred. Depreciation is provided on a straight-line basis over the estimated useful lives of depreciable assets and totaled $118.2 million, $109.6 million, and $86.0 million for the years ended March 31, Plants 20 to 30 years Buildings 20 to 40 years Machinery and Equipment 3 to 25 years We periodically evaluate whether current events or circumstances indicate that the carrying value of our depreciable assets may not be recoverable. During fiscal 2019, we recorded an impairment of approximately $211.3 million related to property and equipment in our Oil and Gas Proppants segment. See Impairment or Disposal of Long-lived and Intangible Assets below for more information about the impairment.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill We annually assess Goodwill in the fourth quarter of our fiscal year, or more frequently when indicators of impairment exist. Impairment testing for Goodwill is done at the reporting unit, which is consistent with the reportable segment. Goodwill is considered impaired if the carrying value of the reporting unit exceeds its fair value. Prior to performing the Step 1 quantitative analysis, we may, at our discretion, perform an optional qualitative analysis, or it may choose to proceed directly to the Step 1 quantitative analysis. The qualitative analysis considers the impact of the following events and circumstances on the reporting unit being tested: macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, and other relevant entity-specific events. If, as a result of this qualitative analysis, we conclude that it is more likely than not (a likelihood of greater than 50%) that the fair value of the reporting unit exceeds its carrying value, then an impairment does not exist and the quantitative Step 1 analysis is not required. If we are unable to conclude that it is more-likely-than-not that the fair value of the reporting unit exceeds its carrying value, then we proceed to the quantitative Step 1 analysis. Step 1 of the quantitative test for impairment compares the fair value of the reporting unit to its carrying value. If the carrying value exceeds the fair value, then an impairment is indicated. If facts and circumstances related to our business change in subsequent years, we may choose to perform a quantitative analysis in those future years. If we perform a Step 1 analysis, and the carrying value of the reporting unit exceeds its fair value, then an impairment charge equal to the difference, not to exceed the total amount of Goodwill, is recorded. The fair values of the reporting units are estimated by using both the market and income approaches. The market approach considers market factors and certain multiples in comparison to similar companies, while the income approach uses discounted cash flows to determine the estimated fair values of the reporting units. We also perform an overall comparison of all reporting units to our market capitalization in order to test the reasonableness of our fair value calculations. We performed qualitative assessments of our Cement, Gypsum Wallboard, and Recycled Paperboard reporting units in the fourth quarter of fiscal 2019. As a result of these qualitative assessments, we determined that it was not more likely than not that an impairment existed; therefore, we did not perform a Step 1 quantitative impairment test. We performed a quantitative Step 1 impairment test on our Oil and Gas Proppants reporting unit. We estimated the reporting unit’s fair value using a discounted cash flow model. Key assumptions in the model were: estimated average net sales prices, sales volumes and the discount rate, which was estimated at 11%. Based on the results of the Step 1 impairment analysis, we concluded that the entire balance of Goodwill in the Oil and Gas Proppants reporting unit was impaired, and we recorded an impairment loss of approximately $6.8 million in the reporting unit in the fourth quarter of fiscal 2019. Intangible Assets Intangible Assets, including the impact of the impairment charges discussed above, at March 31, March 31, 2019 Amortization Period Cost Accumulated Amortization Impairment Net (dollars in thousands) Goodwill and Intangible Assets: Customer Contracts and Relationships 15 years $ 72,260 $ (61,009 ) $ (178 ) $ 11,073 Sales Contracts 4 years 2,500 (2,500 ) — — Permits 40 years 28,640 (8,968 ) — 19,672 Goodwill 205,211 — (6,841 ) 198,370 Total Goodwill and Intangible Assets $ 308,611 $ (72,477 ) $ (7,019 ) $ 229,115 March 31, 2018 Amortization Period Cost Accumulated Amortization Net (dollars in thousands) Goodwill and Intangible Assets: Customer Contracts and Relationships 15 years $ 72,260 $ (58,732 ) $ 13,528 Sales Contracts 4 years 2,500 (2,500 ) — Permits 40 years 28,640 (8,037 ) 20,603 Goodwill 205,211 — 205,211 Total Goodwill and Intangible Assets $ 308,611 $ (69,269 ) $ 239,342 At March 31, 2019 and During fiscal During fiscal Amortization expense of intangibles was $4.3 million, $4.4 million, and $4.8 million for the years ended March 31,
Impairment or Disposal of Long-Lived and Intangible Assets	Impairment or Disposal of Long-Lived and Intangible Assets We assess our long-lived assets, including mining and related assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset, or group of assets, may not be recoverable. Long-lived assets, or groups of assets, are evaluated for impairment at the lowest level for which cash flows are largely independent of the cash flows of other assts. We assess recoverability of assets, or group of assets, by comparing the carrying amount of an asset, or group of assets, to the future undiscounted net cash flows that we expect the asset, or group of assets, to generate. These impairment evaluations are significantly affected by estimates of future revenue, costs and expenses, and other factors. If the carrying value of the assets, or group of assets, exceeds the undiscounted cash flows, then an impairment is indicated. If such assets, or group of assets, are considered to be impaired, the impairment is recognized as the amount by which the carrying amount of the asset, or group of assets, exceeds the fair value of the asset, or group of assets. Any assets held for sale are reflected at the lower of their carrying amount or fair value less cost to sell. During the latter part of fiscal 2019, continued declining sales prices, sales volume and operating results in our Oil and Gas Proppants business indicated that impairment indictors were present. The decline in sales volume was primarily related to decreased demand from the Permian Basin. The decline in orders is due to several factors, including reduced completion budgets, limited pipeline take away capacity in the Permian Basin, and an increase in the usage of in-basin regional sand. The capacity for in-basin sand has increased in recent years, and certain of our customers have shifted their purchases from northern white sand to lower cost regional sand. Because of the continuing shift in demand to regional sand, and the decline in our operating results, we concluded in the fourth quarter of fiscal 2019 that the reduction in sales volumes and operating losses were other than temporary and that long-lived asset impairment indicators were present in our Oil and Gas Proppants segment. Prior to performing tests to determine whether an impairment was present, we grouped the long-lived assets of the segment into the lowest level where cash flows are generated, which is considered the operating facility or distribution level. We then performed recoverability tests on each group of assets using probability weighted estimates of forecasted undiscounted cash flows over the remaining estimated life of each asset group based on a variety of scenarios. Based on these forecasts we concluded that the carrying values exceeded the undiscounted cash flows for two of the operating facilities and several of the distribution facilities, indicating impairment. For those impaired asset groups, we calculated an estimated fair value using either a discounted cash flow model (Level 3) or real estate appraisals (Level 2) when it was determined the value of the real estate was the highest and best use of the property. In preparing the discounted cash flow model, we utilized a weighted-average cost of capital which was determined from relevant market comparisons and adjusted for specific risks. The analysis resulted in impairment losses to Property, Plant, and Equipment as well as Goodwill, Intangible, and Other Assets of approximately $211.3 million and $9.0 million, respectively, which is included in Impairment Losses in the Consolidated Statement of Earnings for fiscal year 2019. There was no impairment of long-lived assets or intangible assets during fiscal 2018 and 2017.
Other Assets	Other Assets Other Assets are primarily composed of financing costs related to our revolving credit facility, deferred expenses, and deposits.
Income Taxes	Income Taxes We account for Income Taxes using the asset and liability method. The effect on deferred taxes of a change in tax rates is recognized in earnings in the period that includes the enactment date. We recognize deferred taxes for the differences between financial statement carrying amounts and the tax bases of existing assets and liabilities by applying enacted statutory tax rates for future years. In addition, we recognize future tax benefits to the extent that such benefits are more likely than not to be realized.
Stock Repurchases	Stock Repurchases On April 18,
Revenue Recognition	Revenue Recognition On April 1, 2018, we adopted the new accounting standard ASU 2014-09 (Topic 606), “Revenue from Contracts with Customers,” and all the related amendments to contracts using the modified retrospective method. The adoption of ASU 2014-09 had no impact on our financial statements at the time of the adoption. We earn Revenue primarily from the sale of products, which include cement, concrete, aggregates, gypsum wallboard, recycled paperboard, and frac sand. The vast majority of Revenue from the sale of cement, concrete, aggregates, and gypsum wallboard is originated by purchase orders from our customers, who are primarily third-party contractors and suppliers. Revenue from our Recycled Paperboard and Oil and Gas Proppants segments is generated primarily through long-term supply agreements that mature between 2018 and 2025. We also earn Revenue from transload services and storage; we recognize Revenue from these services when the product is transferred from the rail car to the truck or silo, or from the silo to the railcar or truck. We invoice customers upon shipment, and our collection terms range from 30-65 days. Revenue from the sale of cement, concrete, aggregates, and gypsum wallboard that is not related to long-term supply agreements is recognized upon shipment of the related products to customers, which is when title and ownership are transferred, and the customer is obligated to pay. Revenue from sales under our long-term supply agreements is also recognized upon transfer of control to the customer, which generally occurs at the time the product is shipped from the production facility or transload location. Our long-term supply agreements with customers define, among other commitments, the volume of product that we must provide and the volume that the customer must purchase by the end of the defined periods. Pricing structures under our agreements are generally market-based but are subject to certain contractual adjustments. Historically the pricing and volume requirements under certain of these contracts have been renegotiated during volatile market conditions. Shortfall amounts, if applicable under these arrangements, are constrained and not recognized as Revenue until agreement is reached with the customer and there is no risk of reversal. The Company offers certain of its customers, including those with long-term supply agreements, rebates and incentives, which we treat as variable consideration. We adjust the amount of revenue recognized for the variable consideration using the most likely amount method based on past history and projected volumes in the rebate and incentive period. Any amounts billed to customers for taxes are excluded from Revenue. The Company has elected to treat freight and delivery charges we pay for the delivery of goods to our customers as a fulfilment activity rather than a separate performance obligation. When we arrange for a third party to deliver products to customers, fees for shipping and handling that are billed to the customer are recorded as Revenue, while costs we incur for shipping and handling are recorded as expenses and included in Cost of Goods Sold. Approximately $169.6 million, $158.3 million, and $138.0 million of freight for the years ended March 31, 2019, 2018 and 2017, respectively, were included in both revenue and Cost of Goods Sold in our Consolidated Statement of Earnings. Other Non-Operating Income includes lease and rental income, asset sale income, non-inventoried aggregates sales income, distribution center income, and trucking income, as well as other miscellaneous revenue items and costs which have not been allocated to a business segment. See Footnote (F) of the Notes to Consolidated Financial Statements for disaggregation of Revenue by segment.
Comprehensive Income/Losses	Comprehensive Income/Losses As of March 31,
Consolidated Cash Flows - Supplemental Disclosures	Consolidated Cash Flows – Supplemental Disclosures Interest payments made during the years ended March 31, We made net payments of $40.0 million, $69.4 million, and $76.1 million for federal and state income taxes in the years ended March 31,
Statements of Consolidated Earnings - Supplemental Disclosures	Statements of Consolidated Earnings – Supplemental Disclosures Maintenance and repair expenses are included in each segment’s costs and expenses. We incurred $116.3 million, $107.3 million, and $101.5 of maintenance and repairs expense million in the years ended March 31,
Selling, General and Administrative Expenses	Selling, General and Administrative Expenses Selling, General, and Administrative expenses of the operating units are included in Cost of Goods Sold on the Consolidated Statements of Earnings. Corporate General and Administrative (Corporate G&A) expenses include administration, financial, legal, employee benefits, and other corporate activities, and are shown separately in the Consolidated Statements of Earnings. Corporate G&A also includes stock compensation expense. See Footnote (I) for more information. Total Selling, General, and Administrative expenses for each of the periods are summarized as follows: For the Years Ended March 31, 2019 2018 2017 (dollars in thousands) Operating Units Selling, G&A $ 53,787 $ 62,529 $ 57,004 Corporate G&A 37,371 41,205 33,940 $ 91,158 $ 103,734 $ 90,944
Earnings Per Share	Earnings Per Share For the Years Ended March 31, 2019 2018 2017 Weighted-Average Shares of Common Stock Outstanding 46,620,894 48,141,226 47,931,518 Effect of Dilutive Shares: Assumed Exercise of Outstanding Dilutive Options 539,135 1,013,764 1,000,556 Less Shares Repurchased from Proceeds of Assumed Exercised Options (374,380 ) (727,904 ) (726,223 ) Restricted Stock Units 146,731 218,900 155,435 Weighted-Average Common Stock and Dilutive Securities Outstanding 46,932,380 48,645,986 48,361,286 The line Less Shares Repurchased from Proceeds of Assumed Exercised Options includes unearned compensation related to outstanding stock options. There were 461,575; 98,362; and 513,262 stock options at an average exercise price of $90.32 per share, $98.75 per share, and $80.59 per share, respectively, that were excluded from the computation of diluted earnings per share for the years ended March 31,
Share-Based Compensation	Share-Based Compensation All share-based compensation is valued at the grant date and expensed over the requisite service period, which is generally identical to the vesting period of the award. Forfeitures of share-based awards are recognized in the period in which they occur.
Fair Value Measures	Fair Value Measures Certain assets and liabilities are required to be recorded or disclosed at fair value. The estimated fair values of those assets and liabilities have been determined using market information and valuation methodologies. Changes in assumptions or estimation methods could affect the fair value estimates; however, we do not believe any such changes would have a material impact on our financial condition, results of operations, or cash flows. There are three levels of inputs that may be used to measure fair value: Level 1 – Quoted prices for identical assets and liabilities in active markets; Level 2 – Quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data; and Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies, and similar techniques that use significant unobservable inputs.
Recent Accounting Pronouncements	Recent Accounting Pronouncements RECENTLY ADOPTED In March 2017, the Financial Accounting Standards Board (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 adopted the standard on April 1, 2018 using the retrospective method for presentation of service cost and other components in the income statement. We prospectively adopted the requirement to limit the capitalization of benefit cost to the service cost component. The impact of adopting this standard was not material to our financial statements . In January 2017, the FASB issued ASU 2017-04, “Simplifying the Test for Goodwill Impairment,” which eliminates the second step of the goodwill impairment test. Under the new standard, an entity should recognize an impairment charge for the amount by which the carrying value of the reporting unit exceeds the reporting unit’s fair value. We adopted this standard effective April 1, 2018 . PENDING ADOPTION In February 2016, the FASB issued ASU 2016-02, “Leases,” which supersedes existing lease guidance to require lessees to recognize right-of-use 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 new standard provides a number of practical expedients for transition and elections for the future application of the policy. We will elect the “package of practical expedients”, which permits us to not reassess prior conclusions about lease identification and classification. We will also elect the practical expedient allowing the use of hindsight, which allowed the inclusion of certain renewal options that were not previously considered using the former lease guidance. We have also chosen to exclude short-term leases, which are those leases with terms of less than twelve month. We will adopt this standard on April 1, 2019 using the modified-retrospective transition approach. Under this approach, we will record a right-of-use asset and lease liability for all leases outstanding (excluding short-term leases) as of that date, and will not restate periods prior to the date of adoption. We expect to recognize an operating lease liability in the range of approximately $70.0 million to $75.0 million, with a corresponding right-of-use asset in the range of approximately $67.0 million to $72.0 million. We do not expect the adoption of this standard to materially impact annual lease expense. In January 2018, the FASB issued ASU 2018-01, “Land Easement Practical Expedient for Transition to Topic 842.” This ASU permits the election not to evaluate land easements under the new lease guidance that existed or expired before the adoption of the ASU 2016-02 and that were not previously accounted for as leases. We will adopt ASU 2018-01 concurrently with the adoption of ASU 2016-02, and have elected not to evaluate land easements that existed or expired before adoption.
Acquisition-Related Expense	Acquisition-Related Expense Acquisition-Related Expense consists primarily of expenses incurred during the acquisition of our cement plant in Fairborn, Ohio in February 2017.

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Schedule of Inventories	Inventories consist of the following: March 31, 2019 2018 (dollars in thousands) Raw Materials and Materials-in-Progress $ 125,828 $ 121,628 Finished Cement 27,826 24,089 Aggregates 7,351 7,787 Gypsum Wallboard 7,124 8,477 Paperboard 15,660 8,602 Frac Sand 2,557 1,696 Repair Parts and Supplies 80,676 79,878 Fuel and Coal 8,172 6,002 $ 275,194 $ 258,159
Schedule of Property, Plant and Equipment Estimated Lives	The estimated lives of the related assets are as follows: Plants 20 to 30 years Buildings 20 to 40 years Machinery and Equipment 3 to 25 years
Schedule of Intangible Assets, Including Impact of Impairment Charge	Intangible Assets, including the impact of the impairment charges discussed above, at March 31, March 31, 2019 Amortization Period Cost Accumulated Amortization Impairment Net (dollars in thousands) Goodwill and Intangible Assets: Customer Contracts and Relationships 15 years $ 72,260 $ (61,009 ) $ (178 ) $ 11,073 Sales Contracts 4 years 2,500 (2,500 ) — — Permits 40 years 28,640 (8,968 ) — 19,672 Goodwill 205,211 — (6,841 ) 198,370 Total Goodwill and Intangible Assets $ 308,611 $ (72,477 ) $ (7,019 ) $ 229,115 March 31, 2018 Amortization Period Cost Accumulated Amortization Net (dollars in thousands) Goodwill and Intangible Assets: Customer Contracts and Relationships 15 years $ 72,260 $ (58,732 ) $ 13,528 Sales Contracts 4 years 2,500 (2,500 ) — Permits 40 years 28,640 (8,037 ) 20,603 Goodwill 205,211 — 205,211 Total Goodwill and Intangible Assets $ 308,611 $ (69,269 ) $ 239,342
Schedule of Total Selling, General and Administrative Expenses	Total Selling, General, and Administrative expenses for each of the periods are summarized as follows: For the Years Ended March 31, 2019 2018 2017 (dollars in thousands) Operating Units Selling, G&A $ 53,787 $ 62,529 $ 57,004 Corporate G&A 37,371 41,205 33,940 $ 91,158 $ 103,734 $ 90,944
Schedule of Earnings Per Share	For the Years Ended March 31, 2019 2018 2017 Weighted-Average Shares of Common Stock Outstanding 46,620,894 48,141,226 47,931,518 Effect of Dilutive Shares: Assumed Exercise of Outstanding Dilutive Options 539,135 1,013,764 1,000,556 Less Shares Repurchased from Proceeds of Assumed Exercised Options (374,380 ) (727,904 ) (726,223 ) Restricted Stock Units 146,731 218,900 155,435 Weighted-Average Common Stock and Dilutive Securities Outstanding 46,932,380 48,645,986 48,361,286

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Mar. 31, 2019
Property Plant And Equipment [Abstract]
Schedule of Property, Plant and Equipment	Cost by major category and Accumulated Depreciation are summarized as follows: March 31, 2019 2018 (dollars in thousands) Land and Quarries $ 379,337 $ 368,776 Plants 2,006,870 1,925,980 Buildings, Machinery and Equipment 219,556 187,484 Construction in Progress 85,886 104,288 2,691,649 2,586,528 Accumulated Depreciation (1,264,710 ) (991,229 ) $ 1,426,939 $ 1,595,299

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	12 Months Ended
	Mar. 31, 2019
Payables And Accruals [Abstract]
Schedule of Accrued Expenses	Accrued expenses consist of the following: As of March 31, 2019 2018 (dollars in thousands) Payroll and Incentive Compensation $ 26,225 $ 25,290 Benefits 12,673 13,785 Interest 3,852 3,852 Property Taxes 5,058 5,422 Power and Fuel 1,644 1,545 Litigation Settlements and Expenses 1,900 46,533 Sales and Use Tax 2,167 890 Other 8,430 8,553 $ 61,949 $ 105,870

INDEBTEDNESS (Tables)

INDEBTEDNESS (Tables)	12 Months Ended
	Mar. 31, 2019
Debt Instrument [Line Items]
Long-Term Debt	Long-term debt consists of the following: As of March 31, 2019 2018 (dollars in thousands) Bank Credit Facility $ 310,000 $ 240,000 4.500% Senior Unsecured Notes Due 2026 350,000 350,000 Private Placement Senior Unsecured Notes 36,500 36,500 Total Debt 696,500 626,500 Less: Current Portion of Long-term Debt (36,500 ) — Less: Debt Origination Costs (4,908 ) (5,578 ) Long-term Debt $ 655,092 $ 620,922
Schedule of Maturities of Long-Term Debt	Our maturities of long-term debt during the next five fiscal years and thereafter are as follows: Fiscal Year Amount 2020 $ 36,500 2021 — 2022 310,000 2023 — 2024 — Thereafter 350,000 Total $ 696,500
Schedule of Senior Unsecured Notes Redemption Prices	Beginning August 1, Percentage 2021 102.25 % 2022 101.50 % 2023 100.75 % 2024 and thereafter 100.00 %
2007 Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Amount Outstanding of Tranches	At March 31, Principal Maturity Date Interest Rate Tranche D $36.5 million October 2, 2019 6.48 %

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	12 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value of Senior Notes	The fair value of our senior notes has been estimated based upon our current incremental borrowing rates for similar types of borrowing arrangements. The fair values of our Private Placement Senior Unsecured Notes and Senior Unsecured Notes at March 31, Fair Value (dollars in thousands) Series 2007A Tranche D $ 36,969 4.500% Senior Unsecured Notes Due 2026 $ 356,115

BUSINESS SEGMENTS (Tables)

BUSINESS SEGMENTS (Tables)	12 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Financial Information Related to Operations by Segment	The table below sets forth certain financial information relating to our operations by segment. For the Years Ended March 31, 2019 2018 2017 (dollars in thousands) Revenue - Cement $ 656,759 $ 651,750 $ 566,321 Concrete and Aggregates 140,173 157,013 154,592 Gypsum Wallboard 532,712 491,779 473,651 Paperboard 167,656 181,742 167,065 Oil and Gas Proppants 82,987 98,244 34,623 1,580,287 1,580,528 1,396,252 Less: Intersegment Revenue (82,553 ) (88,124 ) (79,116 ) Less: Joint Venture Revenue (104,493 ) (105,884 ) (105,916 ) $ 1,393,241 $ 1,386,520 $ 1,211,220 For the Years Ended March 31, 2019 2018 2017 (dollars in thousands) Intersegment Revenue - Cement $ 14,408 $ 16,442 $ 15,781 Concrete and Aggregates 1,422 1,335 1,262 Paperboard 66,723 70,347 62,073 $ 82,553 $ 88,124 $ 79,116 Cement Sales Volume (M tons) - Wholly Owned 4,441 4,453 3,934 Joint Venture 899 912 937 5,340 5,365 4,871 For the Years Ended March 31, 2019 2018 2017 (dollars in thousands) Operating Earnings - Cement $ 164,782 $ 179,151 $ 153,525 Concrete and Aggregates 12,866 17,854 18,072 Gypsum Wallboard 180,831 158,551 159,866 Paperboard 35,349 32,758 37,601 Oil and Gas Proppants (28,695 ) (6,139 ) (14,633 ) Sub-Total 365,133 382,175 354,431 Corporate General and Administrative Expense (37,371 ) (41,205 ) (33,940 ) Impairment Losses (220,265 ) — — Litigation Settlements and Losses (1,800 ) (45,098 ) — Other Non-Operating Income 2,412 3,728 2,139 Acquisition and Litigation Expense — — (5,480 ) Earnings Before Interest and Income Taxes 108,109 299,600 317,150 Interest Expense, net (28,374 ) (27,638 ) (22,631 ) Earnings Before Income Taxes $ 79,735 $ 271,962 $ 294,519 Cement Operating Earnings - Wholly Owned $ 126,217 $ 135,732 $ 111,139 Joint Ventures 38,565 43,419 42,386 $ 164,782 $ 179,151 $ 153,525 Capital Expenditures - Cement $ 76,504 $ 45,088 $ 32,790 Concrete and Aggregates 6,649 4,977 6,528 Gypsum Wallboard 10,724 19,382 11,393 Paperboard 16,603 5,177 3,996 Oil and Gas Proppants 52,286 56,872 1,534 Other, net 6,107 461 697 $ 168,873 $ 131,957 $ 56,938 Depreciation, Depletion and Amortization - Cement $ 52,802 $ 50,891 $ 36,727 Concrete and Aggregates 8,176 7,931 7,931 Gypsum Wallboard 20,020 18,179 18,728 Paperboard 8,541 8,694 8,425 Oil and Gas Proppants 31,328 26,872 18,255 Corporate and Other 1,668 1,448 1,725 $ 122,535 $ 114,015 $ 91,791 As of March 31, 2019 2018 2017 (dollars in thousands) Identifiable Assets Cement $ 1,289,468 $ 1,247,504 $ 1,234,617 Concrete and Aggregates 95,084 104,851 110,413 Gypsum Wallboard 372,206 386,041 379,414 Paperboard 138,614 123,819 124,356 Oil and Gas Proppants 236,357 444,826 376,306 Other, net 37,434 60,962 22,018 $ 2,169,163 $ 2,368,003 $ 2,247,124
Segment Breakdown of Goodwill	The segment breakdown of Goodwill at March 31, For the Years Ended March 31, 2019 2018 (dollars in thousands) Cement $ 74,214 $ 74,214 Gypsum Wallboard 116,618 116,618 Paperboard 7,538 7,538 Oil and Gas Proppants - 6,841 $ 198,370 $ 205,211
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 accounts.) For the Years Ended March 31, 2019 2018 (dollars in thousands) Revenue $ 212,818 $ 216,533 Gross Margin $ 83,270 $ 91,647 Earnings Before Income Taxes $ 77,131 $ 86,838 March 31, 2019 March 31, 2018 (dollars in thousands) Current Assets $ 71,688 $ 71,089 Non-Current Assets $ 88,834 $ 66,856 Current Liabilities $ 19,309 $ 20,671

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of Components of Provision for Income Taxes	The provision for income taxes includes the following components: For the Years Ended March 31, 2019 2018 2017 (dollars in thousands) Current Provision (Benefit) - Federal $ 32,710 $ 58,695 $ 86,459 State 6,536 5,989 7,638 39,246 64,684 94,097 Deferred Provision (Benefit) - Federal (21,039 ) (52,333 ) 7,274 State (7,332 ) 2,979 (5,071 ) (28,371 ) (49,354 ) 2,203 Provision for Income Taxes $ 10,875 $ 15,330 $ 96,300
Schedule of Effective Tax Rates Vary from Federal Statutory Rates	The effective tax rates vary from the federal statutory rates due to the following items: For the Years Ended March 31, 2019 2018 2017 (dollars in thousands) Earnings Before Income Taxes $ 79,735 $ 271,962 $ 294,519 Income Taxes at Statutory Rate $ 16,744 $ 85,804 $ 103,082 Increases (Decreases) in Tax Resulting from - State Income Taxes, net (629 ) 6,139 1,668 Statutory Depletion in Excess of Cost (3,834 ) (6,341 ) (1,216 ) Domestic Production Activities Deduction — (5,995 ) (7,615 ) Excess Tax Benefit from Stock Compensation (651 ) (4,129 ) — Meals and Entertainment Disallowance 610 567 626 Limitation on Officer's Compensation 1,434 246 — Impact of Tax Cuts and Jobs Act of 2017 — (61,692 ) — Credits (940 ) — — Valuation Allowance (2,100 ) — — Other 241 731 (245 ) Provision for Income Taxes $ 10,875 $ 15,330 $ 96,300 Effective Tax Rate 14 % 6 % 33 %
Schedule of Components of Deferred Income Taxes	Components of deferred income taxes are as follows: March 31, 2019 2018 (dollars in thousands) Items Giving Rise to Deferred Tax Liabilities - Excess Tax Depreciation and Amortization $ (108,505 ) $ (106,367 ) Depletion — (11,069 ) State Income Taxes, net (9,236 ) (14,265 ) Other (5,628 ) (5,957 ) Total Deferred Tax Liabilities $ (123,369 ) $ (137,658 ) Items Giving Rise to Deferred Tax Assets - Change in Accruals $ 8,601 $ 8,965 Depletable Assets 8,995 — Inventory 6,046 4,276 Bad Debts 2,169 1,891 Long-term Incentive Compensation Plan 5,154 4,616 Credits and Other Carryforwards 12,289 12,879 Pension 921 1,108 Subtotal 44,175 33,735 Valuation Allowance (11,565 ) (15,043 ) Total Deferred Tax Assets $ 32,610 $ 18,692

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Mar. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Schedule of Minimum Annual Rental Commitments	Minimum annual rental commitments as of March 31, Fiscal Year Amount 2020 $ 14,613 2021 $ 11,487 2022 $ 9,979 2023 $ 9,784 2024 $ 8,347 Thereafter $ 24,793

STOCK OPTION PLANS (Tables)

STOCK OPTION PLANS (Tables)	12 Months Ended
	Mar. 31, 2019
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 2019 2018 Dividend Yield 1.3 % 1.3 % Expected Volatility 32.7 % 36.5 % Risk Free Interest Rate 2.85 % 2.10 % Expected Life 6.0 years 6.0 years
Stock Option Activity	The following table shows stock option activity for the years presented: For the Years Ended March 31, 2019 2018 2017 Number of Shares Weighted Average Exercise Price Number of Shares Weighted Average Exercise Price Number of Shares Weighted Average Exercise Price Outstanding Options at Beginning of Year 958,136 $ 72.52 1,323,379 $ 66.07 1,817,763 $ 53.03 Granted 125,734 $ 103.53 119,986 $ 100.20 202,364 $ 77.76 Exercised (38,748 ) $ 54.27 (448,295 ) $ 60.27 (677,566 ) $ 34.46 Cancelled (2,197 ) $ 100.88 (36,934 ) $ 79.97 (19,182 ) $ 70.30 Outstanding Options at End of Year 1,042,925 $ 76.88 958,136 $ 72.52 1,323,379 $ 66.07 Options Exercisable at End of Year 651,218 651,218 874,116 Weighted Average Fair Value of Options Granted during the Year $ 33.11 $ 33.37 $ 25.22
Stock Options Outstanding	The following table summarizes information about stock options outstanding at March 31, Options Outstanding Options Exercisable 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 65,912 2.35 $ 23.27 65,912 $ 23.27 $33.43 - $37.34 81,288 3.21 $ 33.99 81,288 $ 33.99 $53.22 - $77.67 303,163 6.20 $ 71.34 219,673 $ 70.69 $79.73 - $106.24 592,562 7.01 $ 91.55 394,691 $ 87.02 1,042,925 6.18 $ 76.88 761,564 $ 71.13
Summary of Activity for Nonvested Restricted Shares	The fair value of restricted stock is estimated based on the stock price at the date of the grant. The following table summarizes the activity for nonvested restricted shares during the fiscal years ended March 31, 2019 and 2018: For the Years Ended March 31, 2019 2018 Number of Shares Weighted Average Grant Date Fair Value Number of Shares Weighted Average Grant Date Fair Value Nonvested Restricted Stock at Beginning of Year 328,059 $ 72.52 371,213 $ 66.07 Granted 121,836 $ 105.73 107,964 $ 100.20 Vested (147,790 ) $ 75.94 (119,187 ) $ 60.27 Forfeited (1,990 ) $ 100.88 (31,931 ) $ 79.97 Nonvested Restricted Stock at End of Year 300,115 $ 78.94 328,059 $ 72.52

NET INTEREST EXPENSE (Tables)

NET INTEREST EXPENSE (Tables)	12 Months Ended
	Mar. 31, 2019
Banking And Thrift Interest [Abstract]
Net Interest Expense, Net	The following components are included within Interest Expense, net: For the Years Ended March 31, 2019 2018 2017 (dollars in thousands) Interest Income $ (123 ) $ (14 ) $ (40 ) Interest Expense 27,329 26,433 21,595 Other Expenses 1,168 1,219 1,076 Interest Expense, net $ 28,374 $ 27,638 $ 22,631

PENSION AND PROFIT SHARING PL_2

PENSION AND PROFIT SHARING PLANS (Tables)	12 Months Ended
	Mar. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Schedule of Reconciliation of Obligations and Fair Values of Plan Assets	The following table provides a reconciliation of the obligations and fair values of plan assets for all defined benefit plans over the two-year period ended March 31, For the Years Ended March 31, 2019 2018 (dollars in thousands) Reconciliation of Benefit Obligations - Benefit Obligation at April 1, $ 33,370 $ 40,589 Service Cost - Benefits Earned During the Period 399 710 Interest Cost on Projected Benefit Obligation 1,347 1,466 Actuarial (Gain) Loss (306 ) (4,505 ) Settlement — (3,857 ) Benefits Paid (1,080 ) (1,033 ) Benefit Obligation at March 31, $ 33,730 $ 33,370 Reconciliation of Fair Value of Plan Assets - Fair Value of Plan Assets at April 1, $ 33,412 $ 26,410 Actual Return on Plan Assets 2,169 2,805 Employer Contributions 2,040 9,087 Settlement — (3,857 ) Benefits Paid (1,080 ) (1,033 ) Fair Value of Plans at March 31, 36,541 33,412 Funded Status - Funded Status at March 31, $ 2,811 $ 42 Amounts Recognized in the Balance Sheet Consist of - Other Assets $ 2,811 $ — Prepaid and Other Assets — 538 Accrued Benefit Liability — (496 ) Accumulated Other Comprehensive Losses: Net Actuarial Loss 4,346 5,198 Prior Service Cost 19 80 Accumulated Other Comprehensive Losses $ 4,365 $ 5,278 Reclassification to Retained Earnings — 978 Tax impact (1,049 ) (2,244 ) Accumulated Other Comprehensive Losses, net of tax $ 3,316 $ 4,012
Summary of Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets	The table below summarizes the Company’s Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets at March 31, 2019 and 2018: March 31, 2019 2018 (dollars in thousands) Projected Benefit Obligation $ 33,730 $ 33,370 Accumulated Benefit Obligation $ 33,727 $ 33,367 Fair Value of Plan Assets $ 36,541 $ 33,412
Components of Net Periodic Cost	Net periodic pension cost for the fiscal years ended March 31, For the Years Ended March 31, 2019 2018 2017 (dollar in thousands) Service Cost - Benefits Earned During the Period $ 399 $ 710 $ 1,001 Interest Cost of Projected Benefit Obligation 1,347 1,466 1,584 Expected Return on Plan Assets (1,853 ) (2,137 ) (1,606 ) Recognized Net Actuarial Loss 230 566 1,712 Amortization of Prior-Service Cost 61 269 359 Settlement — 649 — Net Periodic Pension Cost $ 184 $ 1,523 $ 3,050
Schedule of Expected Benefit Payments	Expected benefit payments over the next five years, and the following five years under the pension plans are expected to be as follows (dollars in thousands): Fiscal Years Total 2020 $ 1,411 2021 $ 1,515 2022 $ 1,602 2023 $ 1,657 2024 $ 1,702 2025-2029 $ 9,702
Schedule of Assumptions Used in Net Periodic Benefit Cost and Benefit Obligations	The following tables set forth the assumptions used in the actuarial calculations of the present value of Net Periodic Benefit Costs and Benefit Obligations: March 31, 2019 2018 2017 Net Periodic Benefit Costs - Discount Rate 4.12 % 4.03 % 3.83 % Expected Return on Plan Assets 5.50 % 7.50 % 7.50 % Rate of Compensation Increase 3.50 % 3.50 % 3.50 % March 31, 2019 2018 Benefit Obligations - Discount Rate 4.09 % 4.12 % Rate of Compensation Increase 3.50 % 3.50 %
Schedule of Pension Plans Weighted-Average Asset Allocation and Range of Target Allocation	The pension plans’ approximate weighted-average asset allocation at March 31, Percentage of Plan Assets at March 31, Range of Target Allocation 2019 2018 Asset Category - Equity Securities 10 – 20% 14 % 50 % Debt Securities 60 – 90% 85 % 47 % Other 0 – 20% 1 % 3 % Total 100 % 100 %
Schedule of Fair Values of Defined Benefit Plans	The fair values of our defined benefit plans’ consolidated assets by category as of March 31, March 31, 2019 2018 (dollars in thousands) Equity Securities $ 4,525 $ 16,533 Fixed Income Securities 31,516 15,799 Real Estate Funds 144 163 Commodity Linked Funds 212 213 Cash Equivalents 144 704 Total $ 36,541 $ 33,412
Schedule of Fair Values of Defined Benefit Plans Determined Using Fair Value Hierarchy of Inputs	The fair values by category of inputs as of March 31, Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Asset Categories (dollars in thousands) Equity Securities $ — $ 4,525 $ — $ 4,525 Fixed Income Securities — 31,516 — 31,516 Real Estate Funds — 144 — 144 Commodity Linked Funds — 212 — 212 Cash Equivalents 144 — — 144 $ 144 $ 36,397 $ — $ 36,541 The fair values by category of inputs as of March 31, 2018 were as follows: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Asset Categories (dollars in thousands) Equity Securities $ — $ 16,533 $ — $ 16,533 Fixed Income Securities — 15,799 — 15,799 Real Estate Funds — 163 — 163 Commodity Linked Funds — 213 — 213 Cash Equivalents 704 — — 704 $ 704 $ 32,708 $ — $ 33,412

FINANCIAL STATEMENTS FOR GUAR_2

FINANCIAL STATEMENTS FOR GUARANTORS OF THE 4.500% SENIOR UNSECURED NOTES (Tables)	12 Months Ended
	Mar. 31, 2019
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 Year Ended March 31, 2019 Parent Guarantor Subsidiaries Eliminations Consolidated Revenue $ — $ 1,393,241 $ — $ 1,393,241 Cost of Goods Sold — 1,066,673 — 1,066,673 Gross Profit — 326,568 — 326,568 Equity in Earnings of Unconsolidated Joint Venture 38,565 38,565 (38,565 ) 38,565 Equity in Earnings of Subsidiaries 77,954 — (77,954 ) — Corporate General and Administrative Expenses (31,744 ) (5,627 ) — (37,371 ) Impairment Losses — (220,265 ) — (220,265 ) Legal Settlements — (1,800 ) — (1,800 ) Other Non-Operating Income (391 ) 2,802 — 2,411 Interest Expense, net (28,324 ) (49 ) — (28,373 ) Earnings before Income Taxes 56,060 140,194 (116,519 ) 79,735 Income Taxes 12,800 (23,675 ) — (10,875 ) Net Earnings $ 68,860 $ 116,519 $ (116,519 ) $ 68,860 Net Earnings $ 68,860 $ 116,519 $ (116,519 ) $ 68,860 Net Actuarial Change in Benefit Plans, net of tax 696 696 (696 ) 696 Comprehensive Earnings $ 69,556 $ 117,215 $ (117,215 ) $ 69,556 Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Year Ended March 31, 2018 Parent Guarantor Subsidiaries Eliminations Consolidated Revenue — $ 1,386,520 $ — $ 1,386,520 Cost of Goods Sold — 1,047,764 — 1,047,764 Gross Profit — 338,756 — 338,756 Equity in Earnings of Unconsolidated Joint Venture 43,419 43,419 (43,419 ) 43,419 Equity in Earnings of Subsidiaries 289,950 — (289,950 ) - Corporate General and Administrative Expenses (37,825 ) (3,380 ) — (41,205 ) Legal Settlements (45,098 ) — — (45,098 ) Other Non-Operating Income (233 ) 3,961 — 3,728 Interest Expense, net (27,609 ) (29 ) — (27,638 ) Earnings before Income Taxes 222,604 382,727 (333,369 ) 271,962 Income Taxes 34,028 (49,358 ) — (15,330 ) Net Earnings $ 256,632 $ 333,369 $ (333,369 ) $ 256,632 Net Earnings $ 256,632 $ 333,369 $ (333,369 ) 256,632 Net Actuarial Change in Benefit Plans, net of tax 3,384 3,384 (3,384 ) 3,384 Comprehensive Earnings $ 260,016 $ 336,753 $ (336,753 ) $ 260,016 Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Year Ended March 31, 2017 Parent Guarantor Subsidiaries Eliminations Consolidated Revenue $ — $ 1,211,220 $ — $ 1,211,220 Cost of Goods Sold — 899,175 — 899,175 Gross Profit — 312,045 — 312,045 Equity in Earnings of Unconsolidated Joint Venture 42,386 42,386 (42,386 ) 42,386 Equity in Earnings of Subsidiaries 210,923 — (210,923 ) — Corporate General and Administrative Expenses (28,545 ) (5,395 ) — (33,940 ) Other Non-Operating Income (534 ) 2,673 — 2,139 Acquisition-Related Expense (5,480 ) — — (5,480 ) Interest Expense, net (51,315 ) 28,684 — (22,631 ) Earnings before Income Taxes 167,435 380,393 (253,309 ) 294,519 Income Taxes 30,784 (127,084 ) — (96,300 ) Net Earnings $ 198,219 $ 253,309 $ (253,309 ) $ 198,219 Net Earnings $ 198,219 $ 253,309 $ (253,309 ) $ 198,219 Net Actuarial Change in Benefit Plans, net of tax 4,013 4,013 (4,013 ) 4,013 Comprehensive Earnings $ 202,232 $ 257,322 $ (257,322 ) $ 202,232
Condensed Consolidating Balance Sheet	Condensed Consolidating Balance Sheet At March 31, 2019 Parent Guarantor Subsidiaries Eliminations Consolidated ASSETS Current Assets - Cash and Cash Equivalents $ 5,779 $ 2,822 $ — $ 8,601 Accounts and Notes Receivable 437 128,285 — 128,722 Inventories — 275,194 — 275,194 Income Tax Receivable 5,480 — — 5,480 Prepaid and Other Current Assets 1,472 8,152 — 9,624 Total Current Assets 13,168 414,453 — 427,621 Property, Plant and Equipment, net 7,756 1,419,183 — 1,426,939 Notes Receivable — 2,898 — 2,898 Investment in Joint Venture 70 64,803 — 64,873 Investments in Subsidiaries and Receivables from Affiliates 2,322,335 406,726 (2,729,061 ) — Goodwill and Intangible Assets, net — 229,115 — 229,115 Other Assets 4,571 13,146 — 17,717 $ 2,347,900 $ 2,550,324 $ (2,729,061 ) $ 2,169,163 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities- Accounts Payable $ 5,520 $ 75,364 $ — $ 80,884 Accrued Liabilities 22,470 39,479 — 61,949 Current Portion of Long-term Debt 36,500 — — 36,500 Total Current Liabilities 64,490 114,843 — 179,333 Long-term Debt 655,092 — — 655,092 Other Long-term Liabilities 3,303 31,189 — 34,492 Payables to Affiliates 406,727 5,730,093 (6,136,820 ) — Deferred Income Taxes 8,801 81,958 — 90,759 Total Liabilities 1,138,413 5,958,083 (6,136,820 ) 959,676 Total Stockholders’ Equity 1,209,487 (3,407,759 ) 3,407,759 1,209,487 $ 2,347,900 $ 2,550,324 $ (2,729,061 ) $ 2,169,163 Condensed Consolidating Balance Sheet At March 31, 2018 Parent Guarantor Subsidiaries Eliminations Consolidated ASSETS Current Assets - Cash and Cash Equivalents $ 5,784 $ 3,531 $ — $ 9,315 Restricted Cash 38,753 — 38,753 Accounts and Notes Receivable 407 141,278 — 141,685 Inventories — 258,159 — 258,159 Income Tax Receivable 109,510 — (103,760 ) 5,750 Prepaid and Other Current Assets 665 4,408 — 5,073 Total Current Assets 155,119 407,376 (103,760 ) 458,735 Property, Plant and Equipment, net 2,099 1,593,200 — 1,595,299 Notes Receivable — 115 — 115 Investment in Joint Venture 70 60,488 — 60,558 Investments in Subsidiaries and Receivables from Affiliates 2,718,809 762,340 (3,481,149 ) — Goodwill and Intangible Assets, net — 239,342 — 239,342 Other Assets 5,417 8,537 — 13,954 $ 2,881,514 $ 3,071,398 $ (3,584,909 ) $ 2,368,003 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities- Accounts Payable $ 5,591 $ 67,868 $ — $ 73,459 Accrued Liabilities 67,387 38,483 — 105,870 Income Tax Payable — 103,760 (103,760 ) — Current Portion of Long-term Debt — — — — Total Current Liabilities 72,978 210,111 (103,760 ) 179,329 Long-term Debt 620,922 — — 620,922 Other Long-term Liabilities 124 30,972 — 31,096 Payables to Affiliates 762,340 5,608,236 (6,370,576 ) — Deferred Income Taxes 7,460 111,506 — 118,966 Total Liabilities 1,463,824 5,960,825 (6,474,336 ) 950,313 Total Stockholders’ Equity 1,417,690 (2,889,427 ) 2,889,427 1,417,690 $ 2,881,514 $ 3,071,398 $ (3,584,909 ) $ 2,368,003
Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows For the Year Ended March 31, 2019 Parent Guarantor Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES Net Cash Provided by (Used in) Operating Activities $ 33,997 $ 316,287 $ — $ 350,284 CASH FLOWS FROM INVESTING ACTIVITIES Additions to Property, Plant, and Equipment (6,107 ) (162,766 ) — (168,873 ) Proceeds from Sales of Property, Plant, and Equipment — 2,281 — 2,281 Net Cash Used in Investing Activities (6,107 ) (160,485 ) — (166,592 ) CASH FLOWS FROM FINANCING ACTIVITIES Increase in Credit Facility 70,000 — — 70,000 Dividends Paid to Stockholders (18,927 ) — — (18,927 ) Purchase and Retirement of Common Stock (271,988 ) — — (271,988 ) Proceeds from Stock Option Exercises 2,103 — — 2,103 Shares Redeemed to Settle Employee Taxes on Stock Compensation (4,347 ) — — (4,347 ) Intra-entity Activity, net 156,511 (156,511 ) — — Net Cash Provided by (Used in) Financing Activities (66,648 ) (156,511 ) — (223,159 ) NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (38,758 ) (709 ) — (39,467 ) CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 44,537 3,531 — 48,068 CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 5,779 $ 2,822 $ — $ 8,601 Condensed Consolidating Statement of Cash Flows For the Year Ended March 31, 2018 Parent Guarantor Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES Net Cash Provided by (Used in) Operating Activities $ (83,947 ) $ 421,612 $ — $ 337,665 CASH FLOWS FROM INVESTING ACTIVITIES Additions to Property, Plant, and Equipment (142 ) (131,815 ) — (131,957 ) Investment in Subsidiaries (36,761 ) — 36,761 — Acquisition Spending — (36,761 ) — (36,761 ) Net Cash Used in Investing Activities (36,903 ) (168,576 ) 36,761 (168,718 ) CASH FLOWS FROM FINANCING ACTIVITIES Increase in Credit Facility 15,000 — — 15,000 Repayment of Private Placement Senior Unsecured Notes (81,214 ) — — (81,214 ) Dividends Paid to Stockholders (19,438 ) — — (19,438 ) Purchase and Retirement of Common Stock (61,078 ) — — (61,078 ) Proceeds from Stock Option Exercises 24,264 — — 24,264 Shares Redeemed to Settle Employee Taxes on Stock Compensation (4,974 ) — — (4,974 ) Intra-entity Activity, net 287,643 (250,882 ) (36,761 ) — Net Cash Provided by (Used in) Financing Activities 160,203 (250,882 ) (36,761 ) (127,440 ) NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 39,353 2,154 — 41,507 CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 5,184 1,377 — 6,561 CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 44,537 $ 3,531 $ — $ 48,068 Condensed Consolidating Statement of Cash Flows For the Year Ended March 31, 2017 Parent Guarantor Subsidiaries Eliminations Consolidated CASH FLOWS FROM OPERATING ACTIVITIES Net Cash Provided by (Used in) Operating Activities $ (64,376 ) $ 395,974 $ — $ 331,598 CASH FLOWS FROM INVESTING ACTIVITIES Additions to Property, Plant, and Equipment (697 ) (56,241 ) — (56,938 ) Investment in Subsidiaries (400,488 ) — 400,488 — Acquisition Spending — (400,488 ) — (400,488 ) Net Cash Used in Investing Activities (401,185 ) (456,729 ) 400,488 (457,426 ) CASH FLOWS FROM FINANCING ACTIVITIES Increase in Credit Facility (157,000 ) — — (157,000 ) Repayment of Private Placement Senior Unsecured Notes (8,000 ) — — (8,000 ) Issuance of Senior Unsecured Notes 350,000 — — 350,000 Payment of Debt Issuance Costs (6,637 ) — — (6,637 ) Dividends Paid to Stockholders (19,341 ) — — (19,341 ) Purchase and Retirement of Common Stock (60,013 ) — — (60,013 ) Proceeds from Stock Option Exercises 22,108 — — 22,108 Shares Redeemed to Settle Employee Taxes on Stock Compensation (4,468 ) — — (4,468 ) Excess Tax Benefits from Share Based Payment Arrangements 10,349 — — 10,349 Intra-entity Activity, net 340,240 60,248 (400,488 ) — Net Cash Provided by (Used in) Financing Activities 467,238 60,248 (400,488 ) 126,998 NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH 1,677 (507 ) — 1,170 CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD 3,507 1,884 — 5,391 CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD $ 5,184 $ 1,377 $ — $ 6,561

QUARTERLY RESULTS (UNAUDITED) (

QUARTERLY RESULTS (UNAUDITED) (Tables)	12 Months Ended
	Mar. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Results (unaudited)	For the Years Ended March 31, 2019 2018 (dollars in thousands, except per share data) First Quarter - Revenue $ 393,756 $ 366,121 Gross Profit 91,634 86,059 Earnings Before Income Taxes 85,021 79,530 Net Earnings 66,339 54,882 Diluted Earnings Per Share $ 1.38 $ 1.13 Second Quarter - Revenue $ 381,499 $ 376,315 Gross Profit 97,931 96,754 Earnings Before Income Taxes 91,793 92,319 Net Earnings 72,603 63,362 Diluted Earnings Per Share $ 1.53 $ 1.31 Third Quarter - Revenue $ 333,285 $ 359,371 Gross Profit 80,421 94,566 Earnings Before Income Taxes 74,518 51,388 Net Earnings 57,715 101,380 Diluted Earnings Per Share $ 1.24 $ 2.08 Fourth Quarter - Revenue $ 284,701 $ 284,713 Gross Profit 56,582 61,377 Loss Before Income Taxes (171,597 ) 48,725 Net Loss (127,797 ) 37,008 Diluted Loss Per Share $ (2.82 ) $ 0.76

Significant Accounting Polici_4

Significant Accounting Policies - Additional Information (Detail)	2 Months Ended	3 Months Ended	12 Months Ended
	May 21, 2019$ / sharesshares	Mar. 31, 2019USD ($)	Mar. 31, 2019USD ($)$ / sharesshares	Mar. 31, 2018USD ($)$ / sharesshares	Mar. 31, 2017USD ($)Customer$ / sharesshares	Apr. 18, 2019shares	Apr. 01, 2019USD ($)	Mar. 31, 2016USD ($)
Significant Accounting Policies [Line Items]
Impairment losses to property, plant, and equipment			$ 211,300,000
Impairment losses to goodwill and intangible asset impairment			7,019,000
Impairment of long-lived and intangible assets			220,265,000	$ 0	$ 0
Allowance for doubtful accounts		$ 9,900,000	9,900,000	8,600,000
Notes receivable, total		3,600,000	3,600,000
Notes receivable, current		$ 700,000	$ 700,000
Notes receivable interest rate		4.50%	4.50%
Notes receivable, maturity description			Remaining unpaid amounts, plus accrued interest, mature in fiscal 2026.
Inventories wrote down					8,492,000
Depreciable assets			$ 118,200,000	109,600,000	86,000,000
Basis of valuation			Property, Plant, and Equipment are stated at cost.
Depreciation method			straight-line basis over the estimated useful lives
Goodwill impairment more likely than not a likelihood as greater percentage of fair value of reportable unit exceeds its carrying value			50.00%
Reduction of prepaid sand liability					2,000,000
Intangible Assets, Amortization Expense			$ 4,300,000	$ 4,400,000	$ 4,800,000
Amortization expense, expected, for fiscal year 2020		$ 2,200,000	2,200,000
Amortization expense, expected, for fiscal year 2021		1,700,000	1,700,000
Amortization expense, expected, for fiscal year 2022		1,700,000	1,700,000
Amortization expense, expected, for fiscal year 2023		1,700,000	1,700,000
Amortization expense, expected, for fiscal year 2024		1,700,000	1,700,000
Impairment losses to goodwill, intangible and other asset impairment			$ 9,000,000
Repurchase of shares | shares			3,309,670	627,722	788,800
Shares repurchased average price | $ / shares			$ 82.18	$ 97.30	$ 76.08
Cost of Goods Sold			$ 1,066,673,000	$ 1,047,764,000	$ 899,175,000
Accumulated other comprehensive loss		3,316,000	3,316,000	4,012,000
Net of income taxes for accumulated other comprehensive loss			1,100,000
Interest payments			28,200,000	28,900,000	19,000,000
Net payments made for federal and state income taxes			40,000,000	69,400,000	76,100,000
Maintenance and repair expenses			$ 116,300,000	$ 107,300,000	$ 101,500,000
Stock options excluded from computation of diluted earnings per share | shares			461,575	98,362	513,262
Stock options, average exercise price per share | $ / shares			$ 90.32	$ 98.75	$ 80.59
Minimum [Member]
Significant Accounting Policies [Line Items]
Long-term supply agreements maturity year			2018
Revenue from contract with customer collection terms			30 days
Maximum [Member]
Significant Accounting Policies [Line Items]
Long-term supply agreements maturity year			2025
Revenue from contract with customer collection terms			65 days
Subsequent Event [Member]
Significant Accounting Policies [Line Items]
Number of additional shares authorized to be repurchased | shares						10,000,000
Outstanding authorization shares | shares						10,724,758
Repurchase of shares | shares	1,031,110
Shares repurchased average price | $ / shares	$ 88.79
Stock repurchase remaining number of shares authorized to be repurchased | shares	9,848,648
Subsequent Event [Member] | Minimum [Member]
Significant Accounting Policies [Line Items]
Operating lease liability							$ 70,000,000
Operating lease right-of-use asset							67,000,000
Subsequent Event [Member] | Maximum [Member]
Significant Accounting Policies [Line Items]
Operating lease liability							75,000,000
Operating lease right-of-use asset							$ 72,000,000
Sand [Member]
Significant Accounting Policies [Line Items]
Customer advances								$ 2,000,000
Date of contract termination			Jun. 30, 2016
Freight [Member]
Significant Accounting Policies [Line Items]
Cost of Goods Sold			$ 169,600,000	$ 158,300,000	$ 138,000,000
Customer Contracts And Relationships [Member]
Significant Accounting Policies [Line Items]
Intangible Assets, Net		11,073,000	11,073,000	13,528,000
Oil and Gas Proppants [Member]
Significant Accounting Policies [Line Items]
Impairment losses to property, plant, and equipment			211,300,000
Impairment of long-lived and intangible assets		220,300,000
Goodwill, impairment loss		6,800,000
Reduction of prepaid sand liability			2,000,000
Number of customers terminated contract | Customer					2
Settlement agreements, amount received					$ 12,900,000
Oil and Gas Proppants [Member] | Customer Contracts And Relationships [Member]
Significant Accounting Policies [Line Items]
Intangible Assets, Net		$ 300,000	$ 300,000	$ 1,600,000
Intangible assets, wrote-off due to termination of contract					$ 1,300,000
Oil and Gas Proppants [Member] | Discount Rate [Member] | Discounted Cash Flow Model [Member]
Significant Accounting Policies [Line Items]
Estimated discount rate for goodwill impairment		11.00%	11.00%

Schedule of Inventories (Detail

Schedule of Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Inventory [Line Items]
Inventories	$ 275,194	$ 258,159
Raw Materials and Material-in-Progress [Member]
Inventory [Line Items]
Inventories	125,828	121,628
Finished Cement [Member]
Inventory [Line Items]
Inventories	27,826	24,089
Aggregates [Member]
Inventory [Line Items]
Inventories	7,351	7,787
Gypsum Wallboard [Member]
Inventory [Line Items]
Inventories	7,124	8,477
Paperboard [Member]
Inventory [Line Items]
Inventories	15,660	8,602
Frac Sand [Member]
Inventory [Line Items]
Inventories	2,557	1,696
Repair Parts and Supplies [Member]
Inventory [Line Items]
Inventories	80,676	79,878
Fuel and Coal [Member]
Inventory [Line Items]
Inventories	$ 8,172	$ 6,002

Schedule of Property, Plant And

Schedule of Property, Plant And Equipment Estimated Lives (Detail)	12 Months Ended
	Mar. 31, 2019
Minimum [Member] | Plants [Member]
Property, Plant and Equipment [Line Items]
Estimated lives of assets - (years)	20 years
Minimum [Member] | Buildings [Member]
Property, Plant and Equipment [Line Items]
Estimated lives of assets - (years)	20 years
Minimum [Member] | Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated lives of assets - (years)	3 years
Maximum [Member] | Plants [Member]
Property, Plant and Equipment [Line Items]
Estimated lives of assets - (years)	30 years
Maximum [Member] | Buildings [Member]
Property, Plant and Equipment [Line Items]
Estimated lives of assets - (years)	40 years
Maximum [Member] | Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated lives of assets - (years)	25 years

Schedule of Intangible Assets,

Schedule of Intangible Assets, Including Impact of Impairment Charges (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Finite Lived Intangible Assets [Line Items]
Intangible Assets, Accumulated Amortization	$ (72,477)	$ (69,269)
Goodwill, Cost	205,211	205,211
Intangible Assets, Impairment	(6,841)
Goodwill, Net	198,370	205,211
Total Goodwill and Intangible Assets, Cost	308,611	308,611
Goodwill and Intangible Assets, Impairment	(7,019)
Goodwill and Intangible Assets, net	$ 229,115	$ 239,342
Customer Contracts And Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Intangible Assets, Useful Life	15 years	15 years
Intangible Assets, Cost	$ 72,260	$ 72,260
Intangible Assets, Accumulated Amortization	(61,009)	(58,732)
Intangible Assets, Impairment	(178)
Intangible Assets, Net	$ 11,073	$ 13,528
Sales Contracts [Member]
Finite Lived Intangible Assets [Line Items]
Intangible Assets, Useful Life	4 years	4 years
Intangible Assets, Cost	$ 2,500	$ 2,500
Intangible Assets, Accumulated Amortization	$ (2,500)	$ (2,500)
Permits [Member]
Finite Lived Intangible Assets [Line Items]
Intangible Assets, Useful Life	40 years	40 years
Intangible Assets, Cost	$ 28,640	$ 28,640
Intangible Assets, Accumulated Amortization	(8,968)	(8,037)
Intangible Assets, Net	$ 19,672	$ 20,603

Schedule of Total Selling, Gene

Schedule of Total Selling, General and Administrative Expenses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Accounting Policies [Abstract]
Operating Units Selling, G&A	$ 53,787	$ 62,529	$ 57,004
Corporate G&A	37,371	41,205	33,940
Total selling, general and administrative expenses	$ 91,158	$ 103,734	$ 90,944

Schedule of Earnings Per Share

Schedule of Earnings Per Share (Detail) - shares	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Weighted-Average Shares of Common Stock Outstanding	46,620,894	48,141,226	47,931,518
Assumed Exercise of Outstanding Dilutive Options	539,135	1,013,764	1,000,556
Less Shares Repurchased from Proceeds of Assumed Exercised Options	(374,380)	(727,904)	(726,223)
Restricted Stock Units	146,731	218,900	155,435
Weighted-Average Common Stock and Dilutive Securities Outstanding	46,932,380	48,645,986	48,361,286

Schedule of Property, Plant a_2

Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,691,649	$ 2,586,528
Accumulated Depreciation	(1,264,710)	(991,229)
Property, Plant and Equipment, Net	1,426,939	1,595,299
Land And Quarries [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	379,337	368,776
Plants [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	2,006,870	1,925,980
Buildings Machinery And Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	219,556	187,484
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 85,886	$ 104,288

Schedule of Accrued Expenses (D

Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Accounts Payable And Accrued Liabilities Current [Abstract]
Payroll and Incentive Compensation	$ 26,225	$ 25,290
Benefits	12,673	13,785
Interest	3,852	3,852
Property Taxes	5,058	5,422
Power and Fuel	1,644	1,545
Litigation Settlements and Expenses	1,900	46,533
Sales and Use Tax	2,167	890
Other	8,430	8,553
Accrued Expenses, Total	$ 61,949	$ 105,870

Long-Term Debt (Detail)

Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018	Aug. 02, 2016
Debt Instrument [Line Items]
Bank Credit Facility	$ 310,000	$ 240,000
Total Debt	696,500	626,500
Less: Current Portion of Long-term Debt	(36,500)
Less: Debt Origination Costs	(4,908)	(5,578)
Long-term Debt	655,092	620,922
4.500% Senior Unsecured Notes Due 2026 [Member]
Debt Instrument [Line Items]
Total Debt	350,000	350,000	$ 350,000
Private Placement Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Total Debt	$ 36,500	$ 36,500

Long-Term Debt (Parenthetical)

Long-Term Debt (Parenthetical) (Detail) - 4.500% Senior Unsecured Notes Due 2026 [Member]	12 Months Ended
	Mar. 31, 2019	Aug. 02, 2016
Debt Instrument [Line Items]
Debt instrument, interest rate	4.50%	4.50%
Debt instrument, maturity year	2026

Indebtedness - Additional Infor

Indebtedness - Additional Information (Detail)	Aug. 02, 2016USD ($)	Oct. 31, 2014	Mar. 31, 2019USD ($)	May 21, 2019USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2017	Oct. 02, 2007USD ($)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			$ 310,000,000		$ 240,000,000
Letter of Credit Facility			40,000,000
Outstanding letters of credit , amount			7,700,000
Debt instrument, principal amount			$ 696,500,000		$ 626,500,000
Subsequent Event [Member]
Debt Instrument [Line Items]
Credit Facility, borrowings available				$ 67,300,000
Borrowings outstanding under Credit Facility				$ 425,000,000
Maximum [Member]
Debt Instrument [Line Items]
Consolidated funded indebtedness ratio		350.00%
Unused line of credit commitment fee based on leverage ratio		0.35%
Maximum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Variable margin		2.25%
Maximum [Member] | Federal Funds Effective Swap Rate [Member]
Debt Instrument [Line Items]
Variable margin		1.25%
Minimum [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Variable margin		1.00%
Minimum [Member] | Federal Funds Effective Swap Rate [Member]
Debt Instrument [Line Items]
Variable margin		0.00%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Weighted-average interest rate			3.40%		2.60%	1.90%
Interest rate of debt instrument			3.80%		3.20%
Credit Facility, principal balance			$ 500,000,000
Credit Facility, termination date			Aug. 2, 2021
Credit Facility, borrowings available			$ 750,000,000
Credit Facility, interest rate description			At our option, outstanding principal amounts on the Credit Facility bear interest at a variable rate equal to (i) LIBOR, plus an agreed margin (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 agreed margin (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 LIBOR advance periods, which can be a period of up to nine months at the option of the Company. 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] | Maximum [Member]
Debt Instrument [Line Items]
Option to increase the borrowing capacity			$ 250,000,000
Line of Credit | Maximum [Member] | Federal Funds Effective Swap Rate [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%
Private Placement Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Weighted-average interest rate			6.50%		6.00%	6.00%
Interest rate of debt instrument			6.50%		6.50%
Debt instrument, principal amount			$ 36,500,000		$ 36,500,000
Swingline Loan [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility, principal balance			25,000,000
4.500% Senior Unsecured Notes Due 2026 [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 350,000,000		$ 350,000,000		$ 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%
2007 Note Purchase Agreement [Member]
Debt Instrument [Line Items]
Interest coverage ratio			250.00%
Number of tranches | Loan							4
Senior Notes, sale							$ 200,000,000
Senior Notes, payment terms			Interest for the Series 2007A Senior Unsecured Notes is payable semi-annually on April 2 and October 2 of each year until all principal is paid for the respective tranche.
Purchase agreement additional requirements			and to maintain an interest coverage ratio (Consolidated EBITDA to Consolidated Interest Expense [calculated as Consolidated EBITDA, defined above, to consolidated interest expense]) of at least 2.50:1.0. 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 Revenue 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 revenue of the Company and its Subsidiaries during such period.
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 principal and interest payments at a discount rate of 50 basis
Discount on Senior Notes principal and interest			0.50%
2007 Note Purchase Agreement [Member] | Maximum [Member]
Debt Instrument [Line Items]
Consolidated funded indebtedness ratio			350.00%
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%

Schedule of Maturities of Long-

Schedule of Maturities of Long-Term Debt (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Debt Disclosure [Abstract]
2020	$ 36,500
2022	310,000
Thereafter	350,000
Total	$ 696,500

Schedule of Senior Unsecured No

Schedule of Senior Unsecured Notes Redemption Prices (Detail) - 4.500% Senior Unsecured Notes Due 2026 [Member]	12 Months Ended
	Mar. 31, 2019
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 Seven Note Purchase Agreement (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Debt Instrument [Line Items]
Principal	$ 696,500	$ 626,500
2007 Note Purchase Agreement [Member] | Series 2007A Tranche D [Member]
Debt Instrument [Line Items]
Principal	$ 36,500
Maturity Date	Oct. 2, 2019
Interest Rate	6.48%

Fair Value of Senior Notes (Det

Fair Value of Senior Notes (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Series 2007A Tranche D [Member]
Fair Value Of Financial Instruments [Line Items]
Fair Value of Senior Notes	$ 36,969
4.500% Senior Unsecured Notes Due 2026 [Member]
Fair Value Of Financial Instruments [Line Items]
Fair Value of Senior Notes	$ 356,115

Fair Value of Senior Notes (Par

Fair Value of Senior Notes (Parenthetical) (Detail) - 4.500% Senior Unsecured Notes Due 2026 [Member]	12 Months Ended
	Mar. 31, 2019	Aug. 02, 2016
Fair Value Of Financial Instruments [Line Items]
Debt instrument, interest rate	4.50%	4.50%
Debt instrument, maturity year	2026

Business Segments - Additional

Business Segments - Additional Information (Detail)	12 Months Ended
	Mar. 31, 2018LocationFacilityTerminalPlantSectorSegmentJointVentures
Segment Reporting Information [Line Items]
Number of sectors | Sector	3
Number of reportable business segments | Segment	5
Cement plant locations | Location	7
Slag grinding facility | Facility	1
Cement distribution terminals | Terminal	19
Gypsum wallboard plants | Plant	5
Readymix concrete batch plants | Plant	17
Aggregates processing plants | Plant	4
Number of frac sand processing facilities | Facility	2
Number of frac sand drying facilities | Facility	4
Number of frac sand trans-load locations | Location	5
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)	3 Months Ended								12 Months Ended
	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2017USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2019USD ($)kT	Mar. 31, 2018USD ($)kT	Mar. 31, 2017USD ($)kT
Segment Reporting Information [Line Items]
Revenue	$ 284,701,000	$ 333,285,000	$ 381,499,000	$ 393,756,000	$ 284,713,000	$ 359,371,000	$ 376,315,000	$ 366,121,000	$ 1,393,241,000	$ 1,386,520,000	$ 1,211,220,000
Less: Joint Venture Revenue									(104,493,000)	(105,884,000)	(105,916,000)
Operating Earnings									365,133,000	382,175,000	354,431,000
Corporate General and Administrative Expense									(37,371,000)	(41,205,000)	(33,940,000)
Impairment Losses									(220,265,000)	0	0
Litigation Settlements and Losses									(1,800,000)	(45,098,000)
Other Non-Operating Income									2,412,000	3,728,000	2,139,000
Acquisition and Litigation Expense											(5,480,000)
Earnings Before Interest and Income Taxes									108,109,000	299,600,000	317,150,000
Interest Expense, Net									(28,374,000)	(27,638,000)	(22,631,000)
Earnings Before Income Taxes	(171,597,000)	$ 74,518,000	$ 91,793,000	$ 85,021,000	48,725,000	$ 51,388,000	$ 92,319,000	$ 79,530,000	79,735,000	271,962,000	294,519,000
Capital Expenditures									168,873,000	131,957,000	56,938,000
Depreciation, Depletion and Amortization									122,535,000	114,015,000	91,791,000
Identifiable Assets	2,169,163,000				2,368,003,000				2,169,163,000	2,368,003,000	2,247,124,000
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue									1,580,287,000	1,580,528,000	1,396,252,000
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue									(82,553,000)	(88,124,000)	(79,116,000)
Other [Member]
Segment Reporting Information [Line Items]
Capital Expenditures									6,107,000	461,000	697,000
Identifiable Assets	37,434,000				60,962,000				37,434,000	60,962,000	22,018,000
Cement [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue									$ 656,759,000	$ 651,750,000	$ 566,321,000
Cement Sales Volume | kT									5,340	5,365	4,871
Operating Earnings									$ 164,782,000	$ 179,151,000	$ 153,525,000
Capital Expenditures									76,504,000	45,088,000	32,790,000
Depreciation, Depletion and Amortization									52,802,000	50,891,000	36,727,000
Identifiable Assets	1,289,468,000				1,247,504,000				$ 1,289,468,000	$ 1,247,504,000	$ 1,234,617,000
Cement [Member] | Operating Segments [Member] | Wholly-Owned [Member]
Segment Reporting Information [Line Items]
Cement Sales Volume | kT									4,441	4,453	3,934
Operating Earnings									$ 126,217,000	$ 135,732,000	$ 111,139,000
Cement [Member] | Operating Segments [Member] | Joint Venture [Member]
Segment Reporting Information [Line Items]
Cement Sales Volume | kT									899	912	937
Operating Earnings									$ 38,565,000	$ 43,419,000	$ 42,386,000
Cement [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue									(14,408,000)	(16,442,000)	(15,781,000)
Concrete and Aggregates [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue									140,173,000	157,013,000	154,592,000
Operating Earnings									12,866,000	17,854,000	18,072,000
Capital Expenditures									6,649,000	4,977,000	6,528,000
Depreciation, Depletion and Amortization									8,176,000	7,931,000	7,931,000
Identifiable Assets	95,084,000				104,851,000				95,084,000	104,851,000	110,413,000
Concrete and Aggregates [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue									(1,422,000)	(1,335,000)	(1,262,000)
Gypsum Wallboard [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue									532,712,000	491,779,000	473,651,000
Operating Earnings									180,831,000	158,551,000	159,866,000
Capital Expenditures									10,724,000	19,382,000	11,393,000
Depreciation, Depletion and Amortization									20,020,000	18,179,000	18,728,000
Identifiable Assets	372,206,000				386,041,000				372,206,000	386,041,000	379,414,000
Paperboard [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue									167,656,000	181,742,000	167,065,000
Operating Earnings									35,349,000	32,758,000	37,601,000
Capital Expenditures									16,603,000	5,177,000	3,996,000
Depreciation, Depletion and Amortization									8,541,000	8,694,000	8,425,000
Identifiable Assets	138,614,000				123,819,000				138,614,000	123,819,000	124,356,000
Paperboard [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue									(66,723,000)	(70,347,000)	(62,073,000)
Oil and Gas Proppants [Member]
Segment Reporting Information [Line Items]
Impairment Losses	(220,300,000)
Oil and Gas Proppants [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue									82,987,000	98,244,000	34,623,000
Operating Earnings									(28,695,000)	(6,139,000)	(14,633,000)
Capital Expenditures									52,286,000	56,872,000	1,534,000
Depreciation, Depletion and Amortization									31,328,000	26,872,000	18,255,000
Identifiable Assets	$ 236,357,000				$ 444,826,000				236,357,000	444,826,000	376,306,000
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Depreciation, Depletion and Amortization									$ 1,668,000	$ 1,448,000	$ 1,725,000

Segment Breakdown of Goodwill (

Segment Breakdown of Goodwill (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Segment Reporting Information [Line Items]
Goodwill	$ 198,370	$ 205,211
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
Oil and Gas Proppants [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	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Related Party Transaction [Line Items]
Revenue	$ 212,818	$ 216,533
Gross Margin	83,270	91,647
Earnings Before Income Taxes	77,131	86,838
Current Assets	71,688	71,089
Non-Current Assets	88,834	66,856
Current Liabilities	$ 19,309	$ 20,671

Schedule of Components of Provi

Schedule of Components of Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Current Provision (Benefit) - Federal	$ 32,710	$ 58,695	$ 86,459
Current Provision (Benefit) - State	6,536	5,989	7,638
Current Provision (Benefit) - Total	39,246	64,684	94,097
Deferred Provision (Benefit) - Federal	(21,039)	(52,333)	7,274
Deferred Provision (Benefit) - State	(7,332)	2,979	(5,071)
Deferred Provision (Benefit) - Total	(28,371)	(49,354)	2,203
Provision for Income Taxes	$ 10,875	$ 15,330	$ 96,300

Schedule of Effective Tax Rates

Schedule of Effective Tax Rates Vary from Federal Statutory Rates (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Earnings Before Income Taxes	$ (171,597)	$ 74,518	$ 91,793	$ 85,021	$ 48,725	$ 51,388	$ 92,319	$ 79,530	$ 79,735	$ 271,962	$ 294,519
Income Taxes at Statutory Rate									16,744	85,804	103,082
Increases (Decreases) in Tax Resulting from - State Income Taxes, net									(629)	6,139	1,668
Increases (Decreases) in Tax Resulting from - Statutory Depletion in Excess of Cost									(3,834)	(6,341)	(1,216)
Increases (Decreases) in Tax Resulting from - Domestic Production Activities Deduction										(5,995)	(7,615)
Increases (Decreases) in Tax Resulting from - Excess Tax Benefit from Stock Compensation									(651)	(4,129)
Increases (Decreases) in Tax Resulting from - Meals and Entertainment Disallowance									610	567	626
Increases (Decreases) in Tax Resulting from - Limitation on Officer's Compensation									1,434	246
Increases (Decreases) in Tax Resulting from - Impact of Tax Cuts and Jobs Act of 2017										(61,692)
Increases (Decreases) in Tax Resulting from - Credits									(940)
Increases (Decreases) in Tax Resulting from - Valuation Allowance									(2,100)
Increases (Decreases) in Tax Resulting from - Other									241	731	(245)
Provision for Income Taxes									$ 10,875	$ 15,330	$ 96,300
Effective Tax Rate									14.00%	6.00%	33.00%

Schedule of Components of Defer

Schedule of Components of Deferred Income Taxes (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Items Giving Rise to Deferred Tax Liabilities - Excess Tax Depreciation and Amortization	$ (108,505)	$ (106,367)
Items Giving Rise to Deferred Tax Liabilities - Depletion		(11,069)
Items Giving Rise to Deferred Tax Liabilities - State Income Taxes, net	(9,236)	(14,265)
Items Giving Rise to Deferred Tax Liabilities - Other	(5,628)	(5,957)
Items Giving Rise to Deferred Tax Liabilities - Total Deferred Tax Liabilities	(123,369)	(137,658)
Items Giving Rise to Deferred Tax Assets - Change in Accruals	8,601	8,965
Items Giving Rise to Deferred Tax Assets - Depletable Assets	8,995
Items Giving Rise to Deferred Tax Assets - Inventory	6,046	4,276
Items Giving Rise to Deferred Tax Assets - Bad Debts	2,169	1,891
Items Giving Rise to Deferred Tax Assets - Long-term Incentive Compensation Plan	5,154	4,616
Items Giving Rise to Deferred Tax Assets - Credits and Other Carryforwards	12,289	12,879
Items Giving Rise to Deferred Tax Assets - Pension	921	1,108
Items Giving Rise to Deferred Tax Assets - Subtotal	44,175	33,735
Items Giving Rise to Deferred Tax Assets - Valuation Allowance	(11,565)	(15,043)
Items Giving Rise to Deferred Tax Assets - Total Deferred Tax Assets	$ 32,610	$ 18,692

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	9 Months Ended	12 Months Ended
	Dec. 31, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Income Tax [Line Items]
Decrease in valuation allowance against deferred tax assets		$ 2,100,000
Uncertain tax positions		$ 0	$ 0	$ 0
Federal corporate tax rate	35.00%	21.00%
Deductibility percentage of certain capital expenditures		100.00%
Tax benefit from change in corporate tax rates on deferred tax liabilities	$ 61,000,000
State Income Tax [Member]
Income Tax [Line Items]
Investment credits		$ 2,000,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	May 08, 2018	Jan. 05, 2018	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Commitments And Contingencies [Line Items]
Letters of credit outstanding, amount				$ 7,700,000
Contingently liable for performance, current				26,300,000
Outstanding guarantees				$ 0
Percentage of expected natural gas usage				25.00%
Operating leases Rental expense				$ 12,300,000	$ 12,000,000	$ 11,300,000
American Gypsum Company LLC [Member] | Homebuilder Settlement Agreement [Member]
Commitments And Contingencies [Line Items]
Litigation settlement amount	$ 6,000,000
American Gypsum Company LLC [Member] | Direct and Indirect Purchaser Class [Member] | Direct and Indirect Purchaser Settlement Agreements [Member]
Commitments And Contingencies [Line Items]
Litigation settlement amount		$ 39,100,000
Amount deposited to qualified settlement fund			$ 38,800,000

Schedule of Minimum Annual Rent

Schedule of Minimum Annual Rental Commitments (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Commitments And Contingencies Disclosure [Abstract]
2020	$ 14,613
2021	11,487
2022	9,979
2023	9,784
2024	8,347
Thereafter	$ 24,793

Stock Option Plans - Additional

Stock Option Plans - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended		12 Months Ended
	Aug. 31, 2018	May 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Aug. 07, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant			3,978,814			3,000,000
Stock option expense			$ 3.8	$ 4.3	$ 5.3
Aggregate intrinsic value for outstanding options			12.8
Aggregate intrinsic value of exercisable options			11.8
Total intrinsic value of options exercised			2.1
Restricted stock or unit expense			$ 11.3	$ 9.6	$ 6.8
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		62,179
Percentage of average return on invested capital			16.60%
Reduced percentage of shares earned in stock options plan			66.70%
Shares earned			53,617
Stock based compensation plan, description			The performance criterion for the Fiscal 2019 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 10.0% to 20.0%, for the fiscal year ending March 31, 2019. All stock options are earned if the return on equity is 20.0% or greater, and the percentage of shares earned are reduced proportionately to approximately 66.7% if the return on equity is 10.0%. If the Company does not achieve a return on equity of at least 10.0%, all stock options granted will be forfeited. During fiscal 2019, the adjusted return on equity was approximately 16.6%; therefore, 53,617 options were earned, with the remaining options forfeited.
Share-based compensation vesting period		4 years
Share-based compensation award expiration term		10 years
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		10.00%
Share-based compensation expiration date			Mar. 31, 2020
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		20.00%
Share-based compensation expiration date			Mar. 31, 2022
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		51,814
Share-based compensation vesting period		4 years
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost, stock options			$ 6.8
Weighted-average period of recognition of unrecognized compensation cost			2 years 4 months 24 days
Stock Options [Member] | Long Term Compensation Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation award expiration term		10 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	1,741
Performance Vesting Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant		57,756
Percentage of average return on invested capital			16.60%
Shares earned			48,185
Stock based compensation plan, description			The performance criterion for the Fiscal 2019 Employee Restricted Stock Performance Award is based upon the achievement of certain levels of return on equity (as defined in the agreement), ranging from 10.0% to 20.0%, for the fiscal year ended March 31, 2019. All restricted shares will be earned if the return on equity is 20.0% or greater, and the percentage of shares earned will be reduced proportionately to approximately 66.7% if the return on equity is 10.0%. If the Company does not achieve a return on equity of at least 10.0%, all awards will be forfeited.
Share-based compensation vesting period		4 years
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		10.00%
Share-based compensation vesting date			Mar. 31, 2020
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		20.00%
Share-based compensation vesting date			Mar. 31, 2022
Time Vesting Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant		48,130
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	15,950		300,000
Share-based compensation vesting period	6 months
Weighted-average period of recognition of unrecognized compensation cost			2 years 2 months 12 days
Unrecognized compensation cost			$ 17.7
Restricted Stock And Restricted Stock Unit [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant			1,252,143

Weighted-Average Assumptions Us

Weighted-Average Assumptions Used to Value Option Awards (Detail) - Long Term Compensation Plan [Member] - Stock Options [Member]	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend Yield	1.30%	1.30%
Expected Volatility	32.70%	36.50%
Risk Free Interest Rate	2.85%	2.10%
Expected Life	6 years	6 years

Stock Option Activity (Detail)

Stock Option Activity (Detail) - $ / shares	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Shares, Outstanding Options at Beginning of Year	958,136	1,323,379	1,817,763
Number of Shares, Granted	125,734	119,986	202,364
Number of Shares, Exercised	(38,748)	(448,295)	(677,566)
Number of Shares, Cancelled	(2,197)	(36,934)	(19,182)
Number of Shares, Outstanding Options at End of Year	1,042,925	958,136	1,323,379
Number of Shares, Options Exercisable at End of Year	651,218	651,218	874,116
Weighted-Average Exercise Price, Outstanding Options at Beginning of Year	$ 72.52	$ 66.07	$ 53.03
Weighted-Average Exercise Price, Granted	103.53	100.20	77.76
Weighted-Average Exercise Price, Exercised	54.27	60.27	34.46
Weighted-Average Exercise Price, Cancelled	100.88	79.97	70.30
Weighted-Average Exercise Price, Outstanding Options at End of Year	76.88	72.52	66.07
Weighted Average Fair Value of Options Granted during the Year	$ 33.11	$ 33.37	$ 25.22

Stock Options Outstanding (Deta

Stock Options Outstanding (Detail)	12 Months Ended
	Mar. 31, 2019$ / sharesshares
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Options Outstanding, Number of Shares Outstanding | shares	1,042,925
Options Outstanding, Weighted-Average Remaining Contractual Life	6 years 2 months 4 days
Options Outstanding, Weighted-Average Exercise Price	$ 76.88
Options Exercisable , Number of Shares Outstanding | shares	761,564
Options Exercisable, Weighted-Average Exercise Price	$ 71.13
$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
Options Outstanding, Number of Shares Outstanding | shares	65,912
Options Outstanding, Weighted-Average Remaining Contractual Life	2 years 4 months 6 days
Options Outstanding, Weighted-Average Exercise Price	$ 23.27
Options Exercisable , Number of Shares Outstanding | shares	65,912
Options Exercisable, Weighted-Average Exercise Price	$ 23.27
$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
Options Outstanding, Number of Shares Outstanding | shares	81,288
Options Outstanding, Weighted-Average Remaining Contractual Life	3 years 2 months 15 days
Options Outstanding, Weighted-Average Exercise Price	$ 33.99
Options Exercisable , Number of Shares Outstanding | shares	81,288
Options Exercisable, Weighted-Average Exercise Price	$ 33.99
$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
Options Outstanding, Number of Shares Outstanding | shares	303,163
Options Outstanding, Weighted-Average Remaining Contractual Life	6 years 2 months 12 days
Options Outstanding, Weighted-Average Exercise Price	$ 71.34
Options Exercisable , Number of Shares Outstanding | shares	219,673
Options Exercisable, Weighted-Average Exercise Price	$ 70.69
$79.73 - $ 106.24 [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	$ 106.24
Options Outstanding, Number of Shares Outstanding | shares	592,562
Options Outstanding, Weighted-Average Remaining Contractual Life	7 years 3 days
Options Outstanding, Weighted-Average Exercise Price	$ 91.55
Options Exercisable , Number of Shares Outstanding | shares	394,691
Options Exercisable, Weighted-Average Exercise Price	$ 87.02

Summary of Activity for Nonvest

Summary of Activity for Nonvested Restricted Shares (Detail) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Nonvested at Beginning of Year	328,059	371,213
Number of Shares, Granted	121,836	107,964
Number of Shares, Vested	(147,790)	(119,187)
Number of Shares, Forfeited	(1,990)	(31,931)
Number of Shares, Nonvested at End of Year	300,115	328,059
Weighted Average Grant Date Fair Value, Nonvested at Beginning of Year	$ 72.52	$ 66.07
Weighted Average Grant Date Fair Value, Granted	105.73	100.20
Weighted Average Grant Date Fair Value, Vested	75.94	60.27
Weighted Average Grant Date Fair Value, Forfeited	100.88	79.97
Weighted Average Grant Date Fair Value, Nonvested at End of Year	$ 78.94	$ 72.52

Net Interest Expense, Net (Deta

Net Interest Expense, Net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Interest Income (Expense), Net [Abstract]
Interest Income	$ (123)	$ (14)	$ (40)
Interest Expense	27,329	26,433	21,595
Other Expenses	1,168	1,219	1,076
Interest Expense, net	$ 28,374	$ 27,638	$ 22,631

Schedule of Reconciliation of O

Schedule of Reconciliation of Obligations and Fair Values of Plan Assets (Detail) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Compensation And Retirement Disclosure [Abstract]
Benefit Obligation at April 1,		$ 33,370	$ 40,589
Service Cost - Benefits Earned During the Period		399	710	$ 1,001
Interest Cost on Projected Benefit Obligation		1,347	1,466	1,584
Actuarial (Gain) Loss		(306)	(4,505)
Settlement	$ (3,900)		(3,857)
Benefits Paid		(1,080)	(1,033)
Benefit Obligation at March 31,	33,370	33,730	33,370	40,589
Fair Value of Plan Assets at April 1,		33,412	26,410
Actual Return on Plan Assets		2,169	2,805
Employer Contributions		2,040	9,087
Settlement			(3,857)
Benefits Paid		(1,080)	(1,033)
Fair Value of Plans at March 31,	33,412	36,541	33,412	$ 26,410
Funded Status at March 31,	42	2,811	42
Other Assets		2,811
Prepaid and Other Assets	538		538
Accrued Benefit Liability	(496)		(496)
Accumulated Other Comprehensive Losses - Net Actuarial Loss	5,198	4,346	5,198
Accumulated Other Comprehensive Losses - Prior Service Cost	80	19	80
Accumulated Other Comprehensive Losses	5,278	4,365	5,278
Reclassification to Retained Earnings	978		978
Tax impact	(2,244)	(1,049)	(2,244)
Accumulated Other Comprehensive Losses, net of tax	$ 4,012	$ 3,316	$ 4,012

Summary of Projected Benefit Ob

Summary of Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Compensation And Retirement Disclosure [Abstract]
Projected Benefit Obligation	$ 33,730	$ 33,370	$ 40,589
Accumulated Benefit Obligation	33,727	33,367
Fair Value of Plan Assets	$ 36,541	$ 33,412	$ 26,410

Components of Net Periodic Cost

Components of Net Periodic Cost (Detail) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Compensation And Retirement Disclosure [Abstract]
Service Cost - Benefits Earned During the Period		$ 399	$ 710	$ 1,001
Interest Cost of Projected Benefit Obligation		1,347	1,466	1,584
Expected Return on Plan Assets		(1,853)	(2,137)	(1,606)
Recognized Net Actuarial Loss		230	566	1,712
Amortization of Prior-Service Cost		61	269	359
Settlement	$ 600		649
Net Periodic Pension Cost		$ 184	$ 1,523	$ 3,050

Pension and Profit Sharing Pl_3

Pension and Profit Sharing Plans - Additional information (Detail) $ in Thousands	1 Months Ended	12 Months Ended
	Mar. 31, 2018USD ($)	Mar. 31, 2019USD ($)EmployeeCompensationPlan	Mar. 31, 2018USD ($)	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan, payments for settlement	$ 3,900		$ 3,857
Settlement cost	$ 600		649
Costs relating to employer discretionary contributions		$ 8,000	8,400	$ 6,400
Current actuarial estimates contributions			600	600	$ 300
Number of employees covered under multi-employer pension plans | Employee		50
Number of multi-employer plans | CompensationPlan		3
Collective bargaining agreement for employer covered under multi-employer plans, Expiration ending date		Mar. 31, 2020
Expenses related to Multi employer plans		$ 1,800	$ 1,500	$ 1,600	$ 1,600
Salaried Employees [Member]
Defined Benefit Plan Disclosure [Line Items]
Employees fully vesting in employer's own contributions made beginning in 2007, requirement years		6 years
Hourly Employees [Member]
Defined Benefit Plan Disclosure [Line Items]
Employees fully vesting in employer's own contributions made beginning in 2007, requirement years		3 years
Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Current actuarial estimates contributions for fiscal year 2020		$ 500
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Current actuarial estimates contributions for fiscal year 2020		$ 1,000

Schedule of Expected Benefit Pa

Schedule of Expected Benefit Payments (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Compensation And Retirement Disclosure [Abstract]
2020	$ 1,411
2021	1,515
2022	1,602
2023	1,657
2024	1,702
2025-2029	$ 9,702

Schedule of Assumptions Used in

Schedule of Assumptions Used in Net Periodic Benefit Cost and Benefit Obligations (Detail)	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Compensation And Retirement Disclosure [Abstract]
Net Periodic Benefit Costs - Discount Rate	4.12%	4.03%	3.83%
Net Periodic Benefit Costs - Expected Return on Plan Assets	5.50%	7.50%	7.50%
Net Periodic Benefit Costs - Rate of Compensation Increase	3.50%	3.50%	3.50%
Benefit Obligations - Discount Rate	4.09%	4.12%
Benefit Obligations - Rate of Compensation Increase	3.50%	3.50%

Schedule of Pension Plans Weigh

Schedule of Pension Plans Weighted-Average Asset Allocation and Range of Target Allocation (Detail)	Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets at March 31	100.00%	100.00%
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets at March 31	14.00%	50.00%
Equity Securities [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Range of Target Allocation	10.00%
Equity Securities [Member] | Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Range of Target Allocation	20.00%
Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets at March 31	85.00%	47.00%
Debt Securities [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Range of Target Allocation	60.00%
Debt Securities [Member] | Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Range of Target Allocation	90.00%
Other [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets at March 31	1.00%	3.00%
Other [Member] | Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Range of Target Allocation	0.00%
Other [Member] | Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Range of Target Allocation	20.00%

Schedule of Fair Values of Defi

Schedule of Fair Values of Defined Benefit Plans (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	$ 36,541	$ 33,412	$ 26,410
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	4,525	16,533
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	31,516	15,799
Real Estate Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	144	163
Commodity Linked Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	212	213
Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	$ 144	$ 704

Schedule of Fair Values of De_2

Schedule of Fair Values of Defined Benefit Plans Determined Using Fair Value Hierarchy of Inputs (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	$ 36,541	$ 33,412	$ 26,410
Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	144	704
Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	36,397	32,708
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	4,525	16,533
Equity Securities [Member] | Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	4,525	16,533
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	31,516	15,799
Fixed Income Securities [Member] | Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	31,516	15,799
Real Estate Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	144	163
Real Estate Funds [Member] | Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	144	163
Commodity Linked Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	212	213
Commodity Linked Funds [Member] | Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	212	213
Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	144	704
Cash Equivalents [Member] | Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	$ 144	$ 704

Condensed Consolidating Stateme

Condensed Consolidating Statement of Earnings and Comprehensive Earnings (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Revenue	$ 284,701,000	$ 333,285,000	$ 381,499,000	$ 393,756,000	$ 284,713,000	$ 359,371,000	$ 376,315,000	$ 366,121,000	$ 1,393,241,000	$ 1,386,520,000	$ 1,211,220,000
Cost of Goods Sold									1,066,673,000	1,047,764,000	899,175,000
Gross Profit	56,582,000	80,421,000	97,931,000	91,634,000	61,377,000	94,566,000	96,754,000	86,059,000	326,568,000	338,756,000	312,045,000
Equity in Earnings of Unconsolidated Joint Venture									38,565,000	43,419,000	42,386,000
Corporate General and Administrative Expense									(37,371,000)	(41,205,000)	(33,940,000)
Impairment Losses									(220,265,000)	0	0
Legal Settlements									(1,800,000)	(45,098,000)
Other Non-Operating Income									2,411,000	3,728,000	2,139,000
Acquisition-Related Expense											(5,480,000)
Interest Expense, net									(28,373,000)	(27,638,000)	(22,631,000)
Earnings Before Income Taxes	(171,597,000)	74,518,000	91,793,000	85,021,000	48,725,000	51,388,000	92,319,000	79,530,000	79,735,000	271,962,000	294,519,000
Income Taxes									(10,875,000)	(15,330,000)	(96,300,000)
Net Earnings	$ (127,797,000)	$ 57,715,000	$ 72,603,000	$ 66,339,000	$ 37,008,000	$ 101,380,000	$ 63,362,000	$ 54,882,000	68,860,000	256,632,000	198,219,000
Net Actuarial Change in Benefit Plans, net of tax									696,000	3,384,000	4,013,000
Comprehensive Earnings									69,556,000	260,016,000	202,232,000
Eliminations [Member]
Equity in Earnings of Unconsolidated Joint Venture									(38,565,000)	(43,419,000)	(42,386,000)
Equity in Earnings of Subsidiaries									(77,954,000)	(289,950,000)	(210,923,000)
Earnings Before Income Taxes									(116,519,000)	(333,369,000)	(253,309,000)
Net Earnings									(116,519,000)	(333,369,000)	(253,309,000)
Net Actuarial Change in Benefit Plans, net of tax									(696,000)	(3,384,000)	(4,013,000)
Comprehensive Earnings									(117,215,000)	(336,753,000)	(257,322,000)
Parent [Member] | Reportable Legal Entities [Member]
Equity in Earnings of Unconsolidated Joint Venture									38,565,000	43,419,000	42,386,000
Equity in Earnings of Subsidiaries									77,954,000	289,950,000	210,923,000
Corporate General and Administrative Expense									(31,744,000)	(37,825,000)	(28,545,000)
Legal Settlements										(45,098,000)
Other Non-Operating Income									(391,000)	(233,000)	(534,000)
Acquisition-Related Expense											(5,480,000)
Interest Expense, net									(28,324,000)	(27,609,000)	(51,315,000)
Earnings Before Income Taxes									56,060,000	222,604,000	167,435,000
Income Taxes									12,800,000	34,028,000	30,784,000
Net Earnings									68,860,000	256,632,000	198,219,000
Net Actuarial Change in Benefit Plans, net of tax									696,000	3,384,000	4,013,000
Comprehensive Earnings									69,556,000	260,016,000	202,232,000
Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Revenue									1,393,241,000	1,386,520,000	1,211,220,000
Cost of Goods Sold									1,066,673,000	1,047,764,000	899,175,000
Gross Profit									326,568,000	338,756,000	312,045,000
Equity in Earnings of Unconsolidated Joint Venture									38,565,000	43,419,000	42,386,000
Corporate General and Administrative Expense									(5,627,000)	(3,380,000)	(5,395,000)
Impairment Losses									(220,265,000)
Legal Settlements									(1,800,000)
Other Non-Operating Income									2,802,000	3,961,000	2,673,000
Interest Expense, net									(49,000)	(29,000)	28,684,000
Earnings Before Income Taxes									140,194,000	382,727,000	380,393,000
Income Taxes									(23,675,000)	(49,358,000)	(127,084,000)
Net Earnings									116,519,000	333,369,000	253,309,000
Net Actuarial Change in Benefit Plans, net of tax									696,000	3,384,000	4,013,000
Comprehensive Earnings									$ 117,215,000	$ 336,753,000	$ 257,322,000

Condensed Consolidating Balance

Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Current Assets -
Cash and Cash Equivalents	$ 8,601	$ 9,315
Restricted Cash		38,753
Accounts and Notes Receivable	128,722	141,685
Inventories	275,194	258,159
Income Tax Receivable	5,480	5,750
Prepaid and Other Current Assets	9,624	5,073
Total Current Assets	427,621	458,735
Property, Plant and Equipment, net	1,426,939	1,595,299
Notes Receivable	2,898	115
Investment in Joint Venture	64,873	60,558
Goodwill and Intangible Assets, net	229,115	239,342
Other Assets	17,717	13,954
Total Assets	2,169,163	2,368,003	$ 2,247,124
Current Liabilities -
Accounts Payable	80,884	73,459
Accrued Liabilities	61,949	105,870
Current Portion of Long-term Debt	36,500
Total Current Liabilities	179,333	179,329
Long-term Debt	655,092	620,922
Other Long-term Liabilities	34,492	31,096
Deferred Income Taxes	90,759	118,966
Total Liabilities	959,676	950,313
Total Stockholders’ Equity	1,209,487	1,417,690	$ 1,203,450	$ 1,040,531
Liabilities and Stockholders' Equity, Total	2,169,163	2,368,003
Eliminations [Member]
Current Assets -
Income Tax Receivable		(103,760)
Total Current Assets		(103,760)
Investments in Subsidiaries and Receivables from Affiliates	(2,729,061)	(3,481,149)
Total Assets	(2,729,061)	(3,584,909)
Current Liabilities -
Income Tax Payable		(103,760)
Total Current Liabilities		(103,760)
Payables to Affiliates	(6,136,820)	(6,370,576)
Total Liabilities	(6,136,820)	(6,474,336)
Total Stockholders’ Equity	3,407,759	2,889,427
Liabilities and Stockholders' Equity, Total	(2,729,061)	(3,584,909)
Parent [Member] | Reportable Legal Entities [Member]
Current Assets -
Cash and Cash Equivalents	5,779	5,784
Restricted Cash		38,753
Accounts and Notes Receivable	437	407
Income Tax Receivable	5,480	109,510
Prepaid and Other Current Assets	1,472	665
Total Current Assets	13,168	155,119
Property, Plant and Equipment, net	7,756	2,099
Investment in Joint Venture	70	70
Investments in Subsidiaries and Receivables from Affiliates	2,322,335	2,718,809
Other Assets	4,571	5,417
Total Assets	2,347,900	2,881,514
Current Liabilities -
Accounts Payable	5,520	5,591
Accrued Liabilities	22,470	67,387
Current Portion of Long-term Debt	36,500
Total Current Liabilities	64,490	72,978
Long-term Debt	655,092	620,922
Other Long-term Liabilities	3,303	124
Payables to Affiliates	406,727	762,340
Deferred Income Taxes	8,801	7,460
Total Liabilities	1,138,413	1,463,824
Total Stockholders’ Equity	1,209,487	1,417,690
Liabilities and Stockholders' Equity, Total	2,347,900	2,881,514
Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
Current Assets -
Cash and Cash Equivalents	2,822	3,531
Accounts and Notes Receivable	128,285	141,278
Inventories	275,194	258,159
Prepaid and Other Current Assets	8,152	4,408
Total Current Assets	414,453	407,376
Property, Plant and Equipment, net	1,419,183	1,593,200
Notes Receivable	2,898	115
Investment in Joint Venture	64,803	60,488
Investments in Subsidiaries and Receivables from Affiliates	406,726	762,340
Goodwill and Intangible Assets, net	229,115	239,342
Other Assets	13,146	8,537
Total Assets	2,550,324	3,071,398
Current Liabilities -
Accounts Payable	75,364	67,868
Accrued Liabilities	39,479	38,483
Income Tax Payable		103,760
Total Current Liabilities	114,843	210,111
Other Long-term Liabilities	31,189	30,972
Payables to Affiliates	5,730,093	5,608,236
Deferred Income Taxes	81,958	111,506
Total Liabilities	5,958,083	5,960,825
Total Stockholders’ Equity	(3,407,759)	(2,889,427)
Liabilities and Stockholders' Equity, Total	$ 2,550,324	$ 3,071,398

Condensed Consolidating State_2

Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	$ 350,284	$ 337,665	$ 331,598
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment	(168,873)	(131,957)	(56,938)
Proceeds from Sales of Property, Plant, and Equipment	2,281
Acquisition Spending		(36,761)	(400,488)
Net Cash Used in Investing Activities	(166,592)	(168,718)	(457,426)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (Decrease) in Credit Facility	70,000	15,000	(157,000)
Repayment of Private Placement Senior Unsecured Notes		(81,214)	(8,000)
Issuance of Senior Unsecured Notes			350,000
Payment of Debt Issuance Costs			(6,637)
Dividends Paid to Stockholders	(18,927)	(19,438)	(19,341)
Purchase and Retirement of Common Stock	(271,988)	(61,078)	(60,013)
Proceeds from Stock Option Exercises	2,103	24,264	22,108
Shares Redeemed to Settle Employee Taxes on Stock Compensation	(4,347)	(4,974)	(4,468)
Excess Tax Benefits from Share Based Payment Arrangements			10,349
Net Cash Provided by (Used in) Financing Activities	(223,159)	(127,440)	126,998
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	(39,467)	41,507	1,170
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	48,068	6,561	5,391
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	8,601	48,068	6,561
Eliminations [Member]
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in Subsidiaries		36,761	400,488
Net Cash Used in Investing Activities		36,761	400,488
CASH FLOWS FROM FINANCING ACTIVITIES
Intra-entity Activity, net		(36,761)	(400,488)
Net Cash Provided by (Used in) Financing Activities		(36,761)	(400,488)
Parent [Member] | Reportable Legal Entities [Member]
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	33,997	(83,947)	(64,376)
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment	(6,107)	(142)	(697)
Investment in Subsidiaries		(36,761)	(400,488)
Net Cash Used in Investing Activities	(6,107)	(36,903)	(401,185)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (Decrease) in Credit Facility	70,000	15,000	(157,000)
Repayment of Private Placement Senior Unsecured Notes		(81,214)	(8,000)
Issuance of Senior Unsecured Notes			350,000
Payment of Debt Issuance Costs			(6,637)
Dividends Paid to Stockholders	(18,927)	(19,438)	(19,341)
Purchase and Retirement of Common Stock	(271,988)	(61,078)	(60,013)
Proceeds from Stock Option Exercises	2,103	24,264	22,108
Shares Redeemed to Settle Employee Taxes on Stock Compensation	(4,347)	(4,974)	(4,468)
Excess Tax Benefits from Share Based Payment Arrangements			10,349
Intra-entity Activity, net	156,511	287,643	340,240
Net Cash Provided by (Used in) Financing Activities	(66,648)	160,203	467,238
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	(38,758)	39,353	1,677
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	44,537	5,184	3,507
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	5,779	44,537	5,184
Guarantor Subsidiaries [Member] | Reportable Legal Entities [Member]
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	316,287	421,612	395,974
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment	(162,766)	(131,815)	(56,241)
Proceeds from Sales of Property, Plant, and Equipment	2,281
Acquisition Spending		(36,761)	(400,488)
Net Cash Used in Investing Activities	(160,485)	(168,576)	(456,729)
CASH FLOWS FROM FINANCING ACTIVITIES
Intra-entity Activity, net	(156,511)	(250,882)	60,248
Net Cash Provided by (Used in) Financing Activities	(156,511)	(250,882)	60,248
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	(709)	2,154	(507)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	3,531	1,377	1,884
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$ 2,822	$ 3,531	$ 1,377

Quarterly Results (unaudited)_2

Quarterly Results (unaudited) (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 284,701	$ 333,285	$ 381,499	$ 393,756	$ 284,713	$ 359,371	$ 376,315	$ 366,121	$ 1,393,241	$ 1,386,520	$ 1,211,220
Gross Profit	56,582	80,421	97,931	91,634	61,377	94,566	96,754	86,059	326,568	338,756	312,045
Earnings (Loss) Before Income Taxes	(171,597)	74,518	91,793	85,021	48,725	51,388	92,319	79,530	79,735	271,962	294,519
Net Earnings (Loss)	$ (127,797)	$ 57,715	$ 72,603	$ 66,339	$ 37,008	$ 101,380	$ 63,362	$ 54,882	$ 68,860	$ 256,632	$ 198,219
Diluted Earnings (Loss) Per Share	$ (2.82)	$ 1.24	$ 1.53	$ 1.38	$ 0.76	$ 2.08	$ 1.31	$ 1.13	$ 1.47	$ 5.28	$ 4.10

Quarterly Results (unaudited) -

Quarterly Results (unaudited) - Additional Information (Detail) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Effect Of Fourth Quarter Events [Line Items]
Pre-tax impairment loss			$ 220,265,000	$ 0	$ 0
Pre-tax expense related to settlement agreement			$ 1,800,000	$ 45,098,000
Personnel related expenses		$ 4,000,000
Homebuilder Settlement Agreement [Member]
Effect Of Fourth Quarter Events [Line Items]
Pre-tax expense related to settlement agreement		$ 6,000,000
Oil and Gas Proppants [Member]
Effect Of Fourth Quarter Events [Line Items]
Pre-tax impairment loss	$ 220,300,000