Eagle Materials (EXP) 10-Q 30 Oct 20 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2020	Oct. 27, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2
Entity Registrant Name	EAGLE MATERIALS INC.
Entity Central Index Key	0000918646
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--03-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		41,817,942
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock (par value $.01 per share)
Trading Symbol	EXP
Security Exchange Name	NYSE
Entity File Number	1-12984
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-2520779
Entity Address, Address Line One	5960 Berkshire Lane
Entity Address, Address Line Two	Suite 900
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75225
City Area Code	214
Local Phone Number	432-2000
Document Quarterly Report	true
Document Transition Report	false

Consolidated Statements of Earn

Consolidated Statements of Earnings (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Revenue	$ 447,684	$ 400,569	$ 874,673	$ 755,934
Cost of Goods Sold	324,835	291,549	649,527	568,820
Gross Profit	122,849	109,020	225,146	187,114
Equity in Earnings of Unconsolidated Joint Venture	10,577	12,357	18,373	21,789
Corporate General and Administrative Expense	(11,109)	(13,458)	(28,898)	(34,712)
Gain on Sale of Businesses			51,973
Other Non-Operating Income (Loss)	(90)	585	(399)	723
Interest Expense, Net	(12,556)	(10,137)	(26,597)	(18,983)
Earnings from Continuing Operations before Income Taxes	109,671	98,367	239,598	155,931
Income Taxes	(19,800)	(23,303)	(52,636)	(37,534)
Earnings from Continuing Operations	89,871	75,064	186,962	118,397
Earnings (Loss) from Discontinued Operations, net of Income Taxes	6,163	(3,271)	5,278	(5,300)
Net Earnings	$ 96,034	$ 71,793	$ 192,240	$ 113,097
BASIC EARNINGS PER SHARE
Continuing Operations	$ 2.17	$ 1.81	$ 4.51	$ 2.77
Discontinued Operations	0.15	(0.08)	0.13	(0.12)
Net Earnings	2.32	1.73	4.64	2.65
DILUTED EARNINGS PER SHARE
Continuing Operations	2.16	1.80	4.49	2.75
Discontinued Operations	0.15	(0.08)	0.13	(0.12)
Net Earnings	$ 2.31	$ 1.72	$ 4.62	$ 2.63
AVERAGE SHARES OUTSTANDING
Basic	41,450,013	41,572,127	41,430,511	42,714,896
Diluted	41,649,319	41,833,775	41,606,401	42,985,715
CASH DIVIDENDS PER SHARE		$ 0.10	$ 0.10	$ 0.20

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Earnings (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net Earnings	$ 96,034	$ 71,793	$ 192,240	$ 113,097
Net Actuarial Change in Defined Benefit Plans:
Amortization of net actuarial loss	34	43	67	88
Tax expense	(8)	(10)	(16)	(20)
Comprehensive Earnings	$ 96,060	$ 71,826	$ 192,291	$ 113,165

Consolidated Balance Sheets (un

Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020
Current Assets -
Cash and Cash Equivalents	$ 200,858	$ 118,648
Restricted Cash	5,000
Accounts and Notes Receivable, net	177,138	145,808
Inventories	227,106	272,121
Income Tax Receivable	28,671	128,413
Prepaid and Other Assets	9,634	6,135
Current Assets of Discontinued Operations		7,092
Total Current Assets	648,407	678,217
Property, Plant, and Equipment, net	1,706,200	1,756,417
Notes Receivable	8,287	9,139
Investment in Joint Venture	74,331	73,958
Operating Lease Right-of-Use Assets	28,139	29,483
Goodwill and Intangible Assets, net	394,524	396,463
Other Assets	11,395	10,604
Assets of Discontinued Operations		6,739
Total Assets	2,871,283	2,961,020
Current Liabilities -
Accounts Payable	80,130	84,183
Accrued Liabilities	76,145	70,442
Operating Lease Liabilities	6,810	6,585
Current Liabilities of Discontinued Operations		8,487
Total Current Liabilities	163,085	169,697
Long-term Debt	1,252,716	1,567,315
Noncurrent Operating Lease Liabilities	37,419	40,239
Other Long-term Liabilities	41,586	33,832
Deferred Income Taxes	208,446	166,667
Liabilities of Discontinued Operations		15,427
Total Liabilities	1,703,252	1,993,177
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 41,816,942 and 41,649,041 Shares, respectively	418	416
Capital in Excess of Par Value	18,584	10,943
Accumulated Other Comprehensive Losses	(3,276)	(3,581)
Retained Earnings	1,152,305	960,065
Total Stockholders’ Equity	1,168,031	967,843
Liabilities and Stockholders' Equity, Total	$ 2,871,283	$ 2,961,020

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares	Sep. 30, 2020	Mar. 31, 2020
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	41,816,942	41,649,041
Common Stock, Outstanding	41,816,942	41,649,041

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net Earnings	$ 192,240	$ 113,097
Adjustments to Reconcile Net Earnings to Net Cash Provided by Operating Activities, Net of Effect of Non-Cash Activity -
Depreciation, Depletion and Amortization	64,199	56,333
Deferred Income Tax Provision	41,779	7,520
Stock Compensation Expense	8,275	12,137
Gain on Sale of Subsidiaries	(61,203)
Equity in Earnings of Unconsolidated Joint Venture	(18,373)	(21,789)
Distributions from Joint Venture	18,000	15,000
Changes in Operating Assets and Liabilities:
Accounts and Notes Receivable	(27,746)	(51,242)
Inventories	38,645	35,562
Accounts Payable and Accrued Liabilities	5,998	423
Other Assets	(3,179)	9,244
Income Taxes Payable (Receivable)	99,742	8,411
Net Cash Provided by Operating Activities	358,377	184,696
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment	(40,676)	(60,007)
Acquisition Spending		(30,872)
Proceeds from Sale of Businesses	91,022
Net Cash Provided by (Used in) Investing Activities	50,346	(90,879)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (Decrease) in Credit Facility	(315,000)	275,000
Dividends Paid to Stockholders	(4,163)	(8,815)
Purchase and Retirement of Common Stock		(313,887)
Proceeds from Stock Option Exercises	498	1,767
Payment of Debt Issuance Costs	(1,718)
Shares Redeemed to Settle Employee Taxes on Stock Compensation	(1,130)	(2,799)
Net Cash Used in Financing Activities	(321,513)	(48,734)
NET INCREASE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	87,210	45,083
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD	118,648	8,601
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD	$ 205,858	$ 53,684

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (unaudited) - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Sale of business [Member]	Common Stock [Member]	Capital in Excess of Par Value [Member]	Retained Earnings [Member]	Retained Earnings [Member]Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Losses [Member]	Accumulated Other Comprehensive Losses [Member]Sale of business [Member]
Beginning balance at Mar. 31, 2019	$ 1,209,487	$ (636)		$ 451		$ 1,212,352	$ (636)	$ (3,316)
Net Earnings	41,304					41,304
Stock Option Exercises and Restricted Share Vesting	396				$ 396
Purchase and Retirement of Common Stock	(198,355)			(23)	(7,748)	(190,584)
Dividends to Stockholders	(4,316)					(4,316)
Stock Compensation Expense	8,219			1	8,218
Shares Redeemed to Settle Employee Taxes	(866)				(866)
Unfunded Pension Liability, net of tax	33							33
Ending Balance at Jun. 30, 2019	1,055,266			429		1,058,120		(3,283)
Beginning balance at Mar. 31, 2019	1,209,487	$ (636)		451		1,212,352	$ (636)	(3,316)
Net Earnings	113,097
Ending Balance at Sep. 30, 2019	1,010,755			416	2,990	1,010,597		(3,248)
Beginning balance at Jun. 30, 2019	1,055,266			429		1,058,120		(3,283)
Net Earnings	71,793					71,793
Stock Option Exercises and Restricted Share Vesting	1,371				1,371
Purchase and Retirement of Common Stock	(115,532)			(13)	(366)	(115,153)
Dividends to Stockholders	(4,163)					(4,163)
Stock Compensation Expense	3,918				3,918
Shares Redeemed to Settle Employee Taxes	(1,933)				(1,933)
Unfunded Pension Liability, net of tax			$ 35						$ 35
Ending Balance at Sep. 30, 2019	1,010,755			416	2,990	1,010,597		(3,248)
Beginning balance at Mar. 31, 2020	967,843			416	10,943	960,065		(3,581)
Net Earnings	96,206					96,206
Stock Compensation Expense	4,760			2	4,758
Shares Redeemed to Settle Employee Taxes	(1,130)				(1,130)
Unfunded Pension Liability, net of tax	25		$ 254					25	$ 254
Ending Balance at Jun. 30, 2020	1,067,958			418	14,571	1,056,271		(3,302)
Beginning balance at Mar. 31, 2020	967,843			416	10,943	960,065		(3,581)
Net Earnings	192,240
Ending Balance at Sep. 30, 2020	1,168,031			418	18,584	1,152,305		(3,276)
Beginning balance at Jun. 30, 2020	1,067,958			418	14,571	1,056,271		(3,302)
Net Earnings	96,034					96,034
Stock Compensation Expense	3,515				3,515
Stock Option Exercise	498				498
Unfunded Pension Liability, net of tax	26							26
Ending Balance at Sep. 30, 2020	$ 1,168,031			$ 418	$ 18,584	$ 1,152,305		$ (3,276)

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
BASIS OF PRESENTATION	(A) BASIS OF PRESENTATION The accompanying unaudited consolidated financial statements as of and for the three- and six-month periods ended September 30, 2020 include the accounts of Eagle Materials Inc. and its majority-owned subsidiaries (collectively, the Company, us, or we) and have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on May 22, 2020. Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although we believe that the disclosures are adequate to make the information presented not misleading. In our opinion, all adjustments (consisting solely of normal recurring adjustments) necessary to present fairly the information in the following unaudited consolidated financial statements of the Company have been included. The results of operations for interim periods are not necessarily indicative of the results for the full year. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. We have been deemed an essential business with respect to the COVID-19 pandemic. While we have not yet experienced a material impact on our operations or financial position from this pandemic, there may be future effects on our business, both directly and indirectly, including with respect to customers, manufacturing operations, employees, suppliers, and the building materials and construction markets in general. Recent Accounting Pronouncements RECENTLY ADOPTED In June 2016, the FASB issued ASU 2016-13, which is an update on the measurement of credit losses on financial instruments, which requires entities to use a forward-looking approach based on expected losses rather than the current model of incurred losses to estimate credit losses on certain types of financial instruments, including Accounts and Notes Receivable. The application of the forward-looking model may result in earlier recognition of allowances for losses than the current method. The adoption of this standard on April 1, 2020 did not have a material effect on our consolidated financial statements and disclosures. PENDING ADOPTION In December 2019, the FASB issued ASU 2019-12 which simplifies the accounting for income taxes, eliminates certain exceptions within existing income tax guidance, and clarifies certain aspects of the current guidance to promote consistency among reporting entities. The updated standard is effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. We do not expect the adoption of this standard will have a material impact to our consolidated financial statements.

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION	6 Months Ended
	Sep. 30, 2020
Supplemental Cash Flow Elements [Abstract]
SUPPLEMENTAL CASH FLOW INFORMATION	(B) SUPPLEMENTAL CASH FLOW INFORMATION Supplemental cash flow information is as follows: For the Six Months Ended September 30, 2020 2019 (dollars in thousands) Cash Payments: Interest $ 24,897 $ 18,196 Income Taxes 23,200 19,643 Operating Cash Flows used for Operating Leases 6,127 7,861 Non-Cash Financing Activities: Property and Equipment Purchases Included in Accrued Liabilities $ — $ 2,868

DISCONTINUED OPERATIONS AND OTH

DISCONTINUED OPERATIONS AND OTHER DISPOSITIONS	6 Months Ended
	Sep. 30, 2020
Discontinued Operations And Disposal Groups [Abstract]
DISCONTINUED OPERATIONS AND OTHER DISPOSITIONS	(C) DISCONTINUED OPERATIONS AND OTHER DISPOSITIONS Discontinued Operations On May 30, 2019, the Company announced it was actively pursuing alternatives for its Oil and Gas Proppants business. On September 18, 2020, we sold our Oil and Gas Proppants business (the “Proppants Business”) to Smart Sand, Inc., a Delaware corporation (the “Purchaser”), pursuant to an Equity Purchase and Sale Agreement (the “Purchase Agreement”) between the Company and the Purchaser. The sale of this business excluded certain assets, namely real property and equipment in south Texas, real property in Illinois and certain other assets. The purchase price (the “Purchase Price”) paid by the Purchaser for the acquisition of the Proppants Business was $2.0 million paid in shares of common stock of the Purchaser. The shares delivered to the Company by the Purchaser are not registered under federal or state securities laws, and must be held at least six months, and possibly longer, before they can be sold. The shares were valued at the date of sale, and at September 30, 2020, using Level 1 inputs at the quoted market price of the shares, less a discount for the required holding period. The shares are classified as Prepaid and Other Assets in our Consolidated Balance Sheet at September 30, 2020. Shares representing $0.3 million of the Purchase Price are being held in escrow as a source of recovery for any indemnification claims by the Buyer. In connection with the execution of the Purchase Agreement, we also entered into a Loan and Security Agreement, dated September 18, 2020 (the “Loan and Security Agreement”), by and among the Company, as lender; the Purchaser, as borrower; and other parties thereto. Pursuant to the Loan and Security Agreement, the Company will loan the Purchaser up to $5.0 million for working capital and operating, maintenance, and administrative expenses of the Proppants Business during the one-year period following the closing. The Company has deposited the $5.0 million into an escrow account. Up to 50% of the amounts outstanding under the Loan and Security Agreement may be repaid by the Purchaser in shares of the Purchaser’s common stock. Borrowings under the Loan and Security Agreement will bear interest at a fixed rate of 6.00% per annum during the one-year period following the closing. Any amounts after the one-year period will bear interest at a fixed rate of 8.00% per annum and will mature on September 18, 2024. There were no outstanding borrowings at September 30, 2020. The $5.0 million in the escrow account at September 30, 2020 is classified as Restricted Cash on the Consolidated Balance Sheet. The sale of the Oil and Gas Proppants business, which was previously disclosed as a reportable segment, was determined to meet the discontinued operations accounting criteria. The sale resulted in a gain of approximately $9.2 million, which is included in Earnings (Loss) from Discontinued Operations on the Unaudited Consolidated Statement of Earnings. Certain expenses, which were previously included in the Oil and Gas Proppants operating segment, do not qualify for classification within discontinued operations and have been reclassified from the operating segment to continuing operations. These expenses primarily relate to lease agreements not included in the sale of the Proppants Business. The following is a summary of operating results included in Earnings (Loss) from Discontinued Operations for the three and six months ended September 30, 2020 and 2019. For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) Revenue $ 14 $ 13,957 $ 1,045 $ 29,189 Cost of Goods Sold 1,065 18,471 3,415 36,468 Gross Profit (1,051 ) (4,514 ) (2,370 ) (7,279 ) Other Non-Operating Income 44 357 226 419 Gain on Sale of Discontinued Operations 9,230 — 9,230 — Earnings (Loss) from Discontinued Operations 8,223 (4,157 ) 7,086 (6,860 ) Income Tax (Expense) Benefit (2,060 ) 886 (1,808 ) 1,560 Net Earnings (Loss) from Discontinued Operations $ 6,163 $ (3,271 ) $ 5,278 $ (5,300 ) The significant components of our Consolidated Statements of Cash Flows for discontinued operations for the six months ended September 30, 2020 and 2019 are as follows: For the Six Months Ended September 30, 2020 2019 (dollars in thousands) Depreciation and Amortization $ 221 $ 7,642 Gain on Sale (9,230 ) — Net Change in Inventory — 1,892 Capital Expenditures — 65 The following is a summary of assets and liabilities attributable to discontinued operations, which were included in our balance sheet at March 31, 2020: March 31, 2020 (dollars in thousands) ASSETS Accounts and Notes Receivable $ 9,019 Allowance for Doubtful Accounts (3,041 ) Inventories 387 Prepaid and Other Assets 727 Total Current Assets 7,092 Property, Plant, and Equipment, net 5,692 Operating Lease Right-of-Use Assets 1,047 Total Noncurrent Assets 6,739 $ 13,831 LIABILITIES Accounts Payable $ 2,014 Accrued Liabilities 2,851 Operating Lease Liabilities 3,622 Total Current Liabilities 8,487 Noncurrent Operating Lease Liabilities 9,570 Other Long-term Liabilities 5,857 Total Noncurrent Liabilities 15,427 $ 23,914 Other Dispositions On April 17, 2020, we sold our Western Aggregates LLC (Western) and Mathews Readymix LLC (Mathews) businesses to Teichert, Inc. for an aggregate purchase price of approximately $93.5 million, subject to certain post-closing adjustments. This sale resulted in a gain of approximately $52.0 million. Western and Mathews were part of our Concrete and Aggregates operating segment, and their results of operations were included in our financial statements for the period from April 1, 2020 through April 17, 2020. At the date of sale, assets and liabilities included on our balance sheet related to Western and Mathews were approximately $43.8 million and $2.3 million, respectively. Revenue and Operating Earnings from Western and Mathews, collectively, for the three and six months ended September 30, 2020 and 2019 were as follows: For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) Revenue $ — $ 9,575 $ 1,692 $ 17,376 Operating Earnings $ — $ 1,530 $ 142 $ 2,513

ACQUISITION

ACQUISITION	6 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
ACQUISITION	(D) ACQUISITION Kosmos Acquisition On March 6, 2020, we acquired the assets of Kosmos Cement Company (Kosmos), a joint venture between CEMEX S.A.B. de C.V. and Buzzi Unicem S.p.A. (the Kosmos Acquisition). The Kosmos Acquisition included (i) a cement plant located in Louisville, Kentucky, (ii) a limestone quarry located in Battletown, Kentucky, (iii) cement distribution terminals located in Indianapolis, Indiana; Cincinnati, Ohio; Pittsburgh, Pennsylvania; Charleston, West Virginia; Ceredo, West Virginia; Mt. Vernon, Indiana; and Lexington, Kentucky, and (iv) certain other properties and assets used by Kosmos in connection with the foregoing (collectively, the Kosmos Business). We assumed certain liabilities and obligations of Kosmos relating to the Kosmos Business, including contractual obligations, reclamation obligations and various other liabilities arising out of or relating to the Kosmos Business. The Kosmos Business is included in the Cement segment of our Heavy Materials sector. Purchase Price: Recording of Assets Acquired and Liabilities Assumed: The preparation of the valuation of the assets acquired and liabilities assumed in the Kosmos Acquisition requires the use of significant assumptions and estimates. Critical estimates with respect to the valuation of property, plant, and equipment include, but are not limited to, replacement cost, condition, and estimated remaining useful lives of property and equipment. Critical estimates related to intangible and other assets include future expected cash flows, including projected revenues and expenses, customer attrition, and applicable discount rates. These estimates are based on assumptions that we believe to be reasonable. However, actual results may differ from these estimates. The Company has determined preliminary fair values of the assets acquired and liabilities assumed in the Kosmos Acquisition. These values are subject to change during the measurement period as we perform additional reviews of the asset retirement obligation. The following table summarizes the provisional allocation of the purchase price to assets acquired and liabilities assumed as of September 30, 2020: (dollars in thousands) Inventories $ 28,568 Property, Plant, and Equipment 476,942 Intangible Assets 38,300 Lease Right-of-Use Assets 4,478 Lease Obligations (4,478 ) Long-term Liabilities (4,000 ) Total Net Assets 539,810 Goodwill 129,127 Total Estimated Purchase Price $ 668,937 During the quarter ended June 30, 2020, we completed the valuation of inventories, intangible assets, lease right-of-use assets, and lease obligations. These final values, which are disclosed in the above table, resulted in minor changes from the amounts disclosed in our fiscal 2020 Form 10-K. Goodwill represents the excess purchase price over the fair values of assets acquired and liabilities assumed. The Goodwill was generated by the availability of co-product sales and the opportunity associated with the expansion of our Cement business to the eastern region of the United States. All of the Goodwill generated by the transaction will be deductible for income tax purposes. The following table is a summary of the fair value estimates of the identifiable intangible assets (dollars in thousands) and their weighted-average useful lives: Weighted-Average Life Estimated Fair Value Permits 20 $ 1,500 Customer Relationships 15 35,300 Trade Name and Technology 10 1,500 Total Intangible Assets $ 38,300 Actual and pro forma impact of Kosmos Acquisition: For the Three Months Ended For the Six Months Ended September 30, 2020 (dollars in thousands) Revenue $ 50,018 $ 97,573 Operating Earnings $ 14,410 $ 24,970 Operating Earnings shown above for the three and six months ended September 30, 2020 was affected by approximately $5.4 million and $10.7 million related to depreciation and amortization, respectively. Additionally, Operating Earnings for the six months ended September 30, 2020 was affected by approximately $3.7 million, related to the recording of acquired inventory at fair value. There was no effect on the quarter ended September 30, 2020 as all of the acquired inventory was sold in the fiscal first quarter. The unaudited pro forma results presented below include the effects of the Kosmos Acquisition as if it had been consummated as of April 1, 2019. The pro forma results include estimates for depreciation from the fair value adjustments to acquired Property and Equipment, amortization for acquired Intangible Assets, the Inventory step-up to fair value, and interest expense associated with debt used to fund the Kosmos Acquisition. To better reflect the combined operating results, approximately $5.6 million of material nonrecurring charges directly related to the Kosmos Acquisition have been excluded from pro forma Net Income. For the Three Months Ended For the Six Months Ended September 30, 2019 Unaudited (dollars in thousands, except per share data) Revenue $ 461,402 $ 861,168 Net Earnings from Continuing Operations $ 71,700 $ 108,269 Earnings per share from Continuing Operations – basic $ 1.72 $ 2.53 Earnings per share from Continuing Operations – diluted $ 1.71 $ 2.52 The pro forma results do not include any anticipated synergies or other expected benefits of the Kosmos Acquisition. Accordingly, the unaudited pro forma results are not necessarily indicative of either future results of operations or results that might have been achieved had the Kosmos Acquisition been consummated as of April 1, 2019.

REVENUE

REVENUE	6 Months Ended
	Sep. 30, 2020
Revenue From Contract With Customer [Abstract]
REVENUE	(E) REVENUE We earn Revenue primarily from the sale of products, which include cement, concrete, aggregates, gypsum wallboard and recycled paperboard. 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 segment is generated primarily through long-term supply agreements that mature between 2023 and 2025. We invoice customers upon shipment, and our collection terms range from 30-75 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 terminal 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. Shortfall amounts, if applicable under these arrangements, are constrained and not recognized as Revenue until an agreement is reached with the customer and, therefore, are not subject to the 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. 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 that have not been allocated to a business segment. See Footnote ( O ) to the Unaudited Consolidated Financial Statements for disaggregation of revenue by segment.

ACCOUNTS AND NOTES RECEIVABLE

ACCOUNTS AND NOTES RECEIVABLE	6 Months Ended
	Sep. 30, 2020
Receivables [Abstract]
ACCOUNTS AND NOTES RECEIVABLE	(F) ACCOUNTS AND NOTES RECEIVABLE Accounts and Notes Receivable have been shown net of the allowance for doubtful accounts of $8.0 million and $9.3 million (net of allowance for doubtful accounts related to discontinued operations) at September 30, 2020 and March 31, 2020, respectively. We perform ongoing credit evaluations of our customers’ financial condition and generally require no collateral from our customers. The allowance for non-collection of receivables is based upon analysis of economic trends in the construction industry, detailed analysis of the expected collectability of accounts receivable that are past due, and the expected collectability of overall receivables. We have no significant credit risk concentration among our diversified customer base. We had Notes Receivable totaling approximately $8.3 million at September 30, 2020, which is classified as long-term on the balance sheet. We lend funds to certain companies in the ordinary course of business, and the notes bear interest, on average, at 3.6%. Remaining unpaid amounts, plus accrued interest, mature in 2026. The notes are collateralized by certain assets of the borrower, namely property and equipment, and are generally payable monthly. We monitor the credit risk of each borrower by assessing the timeliness of payments, credit history, credit metrics, and our ongoing interactions with each borrower.

INVENTORIES

INVENTORIES	6 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
INVENTORIES	(G) INVENTORIES Inventories are stated at the lower of average cost (including applicable material, labor, depreciation, and plant overhead) or net realizable value. Raw Materials and Materials-in-Progress include clinker, which is an intermediary product before it is ground into cement powder. Quantities of Raw Materials and Materials-in-Progress, Aggregates, and coal inventories, are based on measured volumes, subject to estimation based on the size and location of the inventory piles, and converted to tonnage using standard inventory density factors. Inventories consist of the following: September 30, March 31, 2020 2020 (dollars in thousands) Raw Materials and Materials-in-Progress $ 84,494 $ 110,558 Finished Cement 28,866 43,538 Aggregates 3,544 8,416 Gypsum Wallboard 4,015 4,211 Paperboard 4,887 5,715 Repair Parts and Supplies 89,177 88,094 Fuel and Coal 12,123 11,589 $ 227,106 $ 272,121

ACCRUED EXPENSES

ACCRUED EXPENSES	6 Months Ended
	Sep. 30, 2020
Payables And Accruals [Abstract]
ACCRUED EXPENSES	( H ) ACCRUED EXPENSES Accrued Expenses consist of the following: September 30, March 31, 2020 2020 (dollars in thousands) Payroll and Incentive Compensation $ 22,789 $ 24,904 Benefits 15,362 12,447 Interest 3,811 4,080 Property Taxes 9,435 5,110 Power and Fuel 1,684 1,353 Legal and Professional 11,345 16,096 Sales and use Tax 1,052 1,085 Other 10,667 5,367 $ 76,145 $ 70,442

LEASES

LEASES	6 Months Ended
	Sep. 30, 2020
Leases [Abstract]
LEASES	(I) LEASES We lease certain real estate, buildings, and equipment. Certain of these leases contain escalations of rent over the term of the lease, as well as options for us to extend the term of the lease at the end of the original term. These extensions range from periods of one year to twenty years. Our lease agreements do not contain material residual value guarantees or material restrictive covenants. In calculating the present value of future minimum lease payments, we use the rate implicit in the lease if it can be determined. Otherwise we use our incremental borrowing rate in effect at the commencement of the lease to determine the present value of the future minimum lease payments. Additionally, we lease certain equipment under short-term leases with initial terms of less than twelve months, which are not recorded on the balance sheet. Lease expense for our operating and short-term leases included in continuing operations is as follows: For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) Operating Lease Cost $ 1,767 $ 2,098 $ 3,563 $ 4,008 Short-term Lease Cost 857 460 1,607 919 Total Lease Cost $ 2,624 $ 2,558 $ 5,170 $ 4,927 The Right-of-Use Assets and Lease Liabilities are reflected on our Balance Sheet as follows: September 30, March 31, 2020 2020 (dollars in thousands) Operating Leases: Operating Lease Right-of-Use Assets $ 28,139 $ 29,483 Current Operating Lease Liabilities $ 6,810 $ 6,585 Noncurrent Operating Lease Liabilities 37,419 40,239 Total Operating Lease Liabilities $ 44,229 $ 46,824 Future payments for operating leases are as follows (dollars in thousands): Fiscal Year Amount 2021 (remaining six months) $ 4,239 2022 7,556 2023 6,969 2024 6,007 2025 5,651 Thereafter 24,585 Total Lease Payments $ 55,007 Less: Imputed Interest (10,778 ) Present Value of Lease Liabilities $ 44,229 Weighted-Average Remaining Lease Term (in years) 9.1 Weighted-Average Discount Rate 3.78 %

SHARE-BASED EMPLOYEE COMPENSATI

SHARE-BASED EMPLOYEE COMPENSATION	6 Months Ended
	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
SHARE-BASED EMPLOYEE COMPENSATION	(J) S hare On August 7, 2013, our stockholders approved the Eagle Materials Inc. Amended and Restated Incentive Plan (the Plan), which increased the shares we are authorized to issue as awards by 3,000,000 (1,500,000 of which may be stock awards). Under the terms of the Plan, we can issue equity awards, including stock options, restricted stock units (RSUs), restricted stock, and stock appreciation rights to employees of the Company and members of the Board of Directors. Awards that were already outstanding prior to the approval of the Plan on August 7, 2013 remained outstanding. The Compensation Committee of our Board of Directors specifies the terms for grants of equity awards under the Plan. Long-Term Compensation Plans OPTIONS In May 2020, the Compensation Committee of the Board of Directors approved the granting to certain officers and key employees an aggregate of 96,476 performance vesting stock options that will be earned only if certain performance conditions are satisfied (the Fiscal 2021 Employee Performance Stock Option Grant). The performance criteria for the Fiscal 2021 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, 2021. All stock options 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 granted stock options will be forfeited. Following any such reduction, restrictions on the earned stock options will lapse and the earned options will vest ratably over four years, with the initial fourth vesting promptly following the determination date, and the remaining options vesting on March 31, 2022 through 2024. The stock options have a term of ten years from the date of grant. The Compensation Committee also approved the granting of 80,396 time-vesting stock options to the same officers and key employees, which vest ratably over four years (the Fiscal 2021 Employee Time-Vesting Stock Option Grant). The weighted-average assumptions used in the Black-Scholes model to value the option awards in fiscal 2021 are as follows: 2020 Dividend Yield — Expected Volatility 37.9 % Risk Free Interest Rate 0.5 % Expected Life 6.0 years Stock option expense for all outstanding stock option awards totaled approximately $ 1.1 million and $ million for the three and six months ended September 30, 20 20 , respectively , and $ 1.2 million and $ 2.3 million for the three and six months ended September 30, 2019, respectively . At September 30, 20 20 , there was approximately $ 8.9 million of unrecognized compensation cost related to outstanding stock options, which is expected to be recognized over a weighted - average period of 2.6 years . The following table represents stock option activity for the six months ended September 30, 2020: Number of Shares Weighted- Average Exercise Price Outstanding Options at March 31, 2020 1,160,091 $ 80.36 Granted 178,946 $ 60.20 Exercised (41,519 ) $ 81.90 Cancelled (12,094 ) $ 91.58 Outstanding Options at September 30, 2020 1,285,424 $ 79.17 Options Exercisable at September 30, 2020 873,164 Weighted-Average Fair Value of Options Granted During the Year $ 22.04 The following table summarizes information about stock options outstanding at September 30, 2020: Options Outstanding Options Exercisable Range of Exercise Prices Number of Shares Outstanding Weighted- Average Remaining Contractual Life (in years) Weighted- Average Exercise Price Number of Shares Outstanding Weighted- Average Exercise Price $23.17 - $29.84 39,165 0.84 $ 23.19 39,165 $ 23.19 $33.43 - $37.34 42,956 1.70 $ 34.14 42,956 $ 34.14 $53.22 - $77.67 446,709 6.72 $ 67.55 255,357 $ 72.53 $79.73 - $106.24 756,594 6.19 $ 91.49 535,686 $ 89.34 1,285,424 6.06 $ 79.17 873,164 $ 78.74 At September 30, 2020, the aggregate intrinsic value for both of the outstanding and exercisable options was approximately $14.3 million and $9.5 million, respectively. The total intrinsic value of options exercised during the six months ended September 30, 2020 was approximately $2.3 million. RESTRICTED STOCK In May 2020, the Compensation Committee approved the granting to certain officers and key employees an aggregate of 82,722 shares of performance vesting restricted stock that will be earned if certain performance conditions are satisfied (the Fiscal 2021 Employee Restricted Stock Performance Award). The performance criteria for the Fiscal 2021 Employee Restricted Stock Performance Award is based upon the achievement of certain levels of return on equity (as defined in the award agreement), ranging from 10.0% to 20.0%, for the fiscal year ending March 31, 2021. 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. Following any such reduction, restrictions on the earned shares will lapse ratably over four years, with the initial fourth lapsing promptly following the determination date, and the remaining restrictions lapsing on March 31, 2022 through 2024. The Compensation Committee also approved the granting of 68,936 shares of time-vesting restricted stock to the same officers and key employees, which vest ratably over four years (the Fiscal 2021 Employee Restricted Stock Time-Vesting Award). The Fiscal 2020 Employee Restricted Stock Performance Award and the Fiscal 2021 Employee Restricted Stock Time-Vesting Award were valued at the closing price of the stock on the date of grant and are being expensed over a four-year In August 2020, we granted 26,064 shares of restricted stock to members of the Board of Directors (the Board of Directors Fiscal 2021 Restricted Stock Award). Restrictions on these shares will lapse six months after the date of grant. The Board of Directors Fiscal 2021 Restricted Stock Award was valued at the closing price of the stock at the date of the grant and is being expensed over a six-month period. The fair value of restricted stock is based on the stock price at the date of grant. The following table summarizes the activity for nonvested restricted shares during the six months ended September 30, 2020: Number of Shares Weighted-Average Grant Date Fair Value Nonvested Restricted Stock March 31, 2020 233,120 $ 75.35 Granted 178,373 $ 63.63 Vested (49,727 ) $ 66.22 Forfeited (6,127 ) $ 91.58 Nonvested Restricted Stock at September 30, 2020 355,639 $ 68.21 During the six months ended September 30, 2020, the weighted-average grant date fair value of restricted shares awarded was $63.63. Expense related to restricted shares was approximately $2.4 million and $5.4 million for the three and six months ended September 30, 2020, respectively, and $2.7 million and $9.8 million for the three and six months ended September 30, 2019, respectively. At September 30, 2020, there was approximately $17.5 million of unearned compensation from restricted stock, which will be recognized over a weighted-average period of 2.4 years. The number of shares available for future grants of stock options, restricted stock units, stock appreciation rights, and restricted stock under the Plan was 3,455,865 at September 30, 2020.

COMPUTATION OF EARNINGS PER SHA

COMPUTATION OF EARNINGS PER SHARE	6 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
COMPUTATION OF EARNINGS PER SHARE	(K) The calculation of basic and diluted common shares outstanding is as follows: For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 Weighted-Average Shares of Common Stock Outstanding 41,450,013 41,572,127 41,430,511 42,714,896 Effect of Dilutive Shares: Assumed Exercise of Outstanding Dilutive Options 414,338 649,394 272,513 700,024 Less Shares Repurchased from Proceeds of Assumed Exercised Options (320,410 ) (509,571 ) (191,050 ) (550,609 ) Restricted Stock Units 105,378 121,825 94,427 121,404 Weighted-Average Common Stock and Dilutive Securities Outstanding 41,649,319 41,833,775 41,606,401 42,985,715 Shares Excluded Due to Anti-dilution Effects 795,382 448,354 929,990 388,058

PENSION AND EMPLOYEE BENEFIT PL

PENSION AND EMPLOYEE BENEFIT PLANS	6 Months Ended
	Sep. 30, 2020
Compensation And Retirement Disclosure [Abstract]
PENSION AND EMPLOYEE BENEFIT PLANS	( L ) PENSION AND EMPLOYEE BENEFIT PLANS We sponsor several defined benefit pension plans and defined contribution plans, which together cover substantially all our employees. Benefits paid under the defined benefit plans covering certain hourly employees are based on years of service and the employee’s qualifying compensation over the last few years of employment. The following table shows the components of net periodic (benefit) cost for our plans: For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) Service Cost - Benefits Earned During the Period $ — $ 85 $ — $ 170 Interest Cost of Projected Benefit Obligation 304 338 608 675 Expected Return on Plan Assets (355 ) (426 ) (710 ) (853 ) Recognized Net Actuarial Loss 34 43 67 88 Net Periodic Pension (Benefit) Cost $ (17 ) $ 40 $ (35 ) $ 80

INCOME TAXES

INCOME TAXES	6 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
INCOME TAXES	(M) INCOME TAXES Income Taxes for the interim periods presented have been included in the accompanying financial statements on the basis of an estimated annual effective tax rate. In addition to the amount of tax resulting from applying the estimated annual effective tax rate to pre-tax income, we will include, when appropriate, certain items treated as discrete events to arrive at an estimated overall tax amount. The effective tax rate for the six months ended September 30, 2020 was approximately 22%, which was lower than the tax rate of 24% for the six months ended September 30, 2019. The effective tax rate is higher than the U.S. Statutory rate of 21% primarily due to state income taxes, partially offset by a benefit recognized related to the reversal of all of our uncertain tax position. The reversal of all of our uncertain tax position was the result of new regulations issued by the U.S. Department of Treasury relating to the interest limitation under IRC section 163(j).

LONG-TERM DEBT

LONG-TERM DEBT	6 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
LONG-TERM DEBT	(N) LONG-TERM DEBT Long-term Debt consists of the following: September 30, March 31, 2020 2020 (dollars in thousands) Revolving Credit Facility $ 245,000 $ 560,000 4.500% Senior Unsecured Notes Due 2026 350,000 350,000 Term Loan 665,000 665,000 Total Debt 1,260,000 1,575,000 Less: Debt Origination Costs (7,284 ) (7,685 ) Long-term Debt $ 1,252,716 $ 1,567,315 Credit Facility We have a revolving credit facility (the Revolving Credit Facility) that terminates on August 2, 2022. The borrowing capacity under the Revolving Credit Facility is $750.0 million until August 2, 2021, after which the aggregate borrowing capacity under the Revolving Credit Facility will be reduced to $665.0 million. The Revolving Credit Facility also includes a swingline loan sublimit of $25.0 million. Borrowings under the Revolving Credit Facility are guaranteed by all of the Company’s material subsidiaries. The debt under the Revolving Credit Facility is not rated by ratings agencies. At the Company’s option, principal amounts outstanding under the Revolving Credit Facility bear interest at a variable rate equal to either (i) the Adjusted LIBO Rate (as defined in the Revolving Credit Facility) plus an agreed spread (ranging from 125 to 200 basis points for loans scheduled to mature in 2021 and from 150 to 250 basis points for loans scheduled to mature in 2022), which is established quarterly based on the Company's then Leverage Ratio (as defined in the Revolving Credit Facility); or (ii) an Alternate Base Rate (as defined in the Revolving Credit Facility), which is the highest of (a) the Prime Rate (as defined in the Revolving Credit Facility), (b) the NYFRB (as defined in the Revolving Credit Facility) plus ½ of 1%, and (c) the Adjusted LIBO Rate for a one-month interest period on such day, plus 1.0%, in each case plus an agreed upon spread (ranging from 25 to 100 basis points for loans scheduled to mature in 2021 and from 50 to 150 basis points for loans scheduled to mature in 2022) which is established quarterly based on the Company's then Leverage Ratio. In the case of loans bearing interest at a rate based on the Alternate Base Rate, interest payments are payable quarterly. In the case of loans bearing interest at a rate based on the Adjusted LIBO Rate, interest is payable at the end of the relevant Interest Period (as defined in the Revolving Credit Facility) for such borrowing unless such Interest Period is for more than three months duration, in which case such interest is payable at intervals of three months duration after the first day of such Interest Period, which can be up to six months at the option of the Company. The Company is also required to pay a commitment fee on unused available borrowings under the Revolving Credit Facility (ranging from 15 to 30 basis points for loans scheduled to mature in 2021 and from 20 to 40 basis points for loans scheduled to mature in 2022) which is established quarterly based on the Company's then Leverage Ratio. The Revolving Credit Facility contains customary covenants that restrict the Company’s and its Restricted Subsidiaries’ ability to incur additional debt; encumber assets; merge with or transfer or sell assets to other persons; make or enter into certain investments, loans, or guaranties; enter into certain swap agreements; enter into affiliate transactions or restrictive transactions; make restricted payments; prepay subordinated indebtedness; and enter into sale and leaseback arrangements. The Revolving Credit Facility also requires the Company to maintain at the end of each fiscal quarter a Leverage Ratio of 4.50 :1.00 or less and an Interest Coverage Ratio (as defined in the Revolving Credit Facility) equal to or greater than 2.50 to 1.00. We were in compliance with all financial ratios and tests at September 30, 2020. We had $245.0 million of borrowings outstanding under the Revolving Credit Facility at September 30, 2020. We had $500.0 million of available borrowings under the Revolving Credit Facility, net of the outstanding letters of credit, at September 30, 2020, all of which was available for future borrowings based on our current Leverage Ratio. The Revolving Credit Facility has a $40.0 million letter of credit facility. The Company pays each lender a participation fee with respect to such lender’s participations in letters of credit, which fee accrues at the same Applicable Rate (as defined in the Revolving Credit Facility) used to determine the interest rate applicable to Eurodollar Revolving Loans (as defined in the Revolving Credit Facility) plus a one-time letter of credit fee to the issuing bank of such letters of credit in an amount equal to 0.125% of the initial stated amount. At September 30, 2020, we had $5.0 million of outstanding letters of credit. We previously provided an irrevocable stand-by letter of credit for any borrowings made by our Joint Venture under its credit facility; however, this credit facility was terminated and the letter of credit cancelled in July 2020. Term Loan We have a term loan credit agreement (the Term Loan Agreement) establishing a $665.0 million term loan facility which we used to pay a portion of the purchase price for the Kosmos Acquisition and fees and expenses incurred in connection with the Kosmos Acquisition in March 2020, which matures on August 2, 2022. Borrowings under the Term Loan Agreement bear interest, at our option, at a variable rate equal to either (i) the Alternate Base Rate (as defined in the Term Loan Agreement and consistent with the Revolving Credit Facility), plus an agreed spread (ranging from 50 to 150 basis points), or (ii) the Adjusted LIBO Rate (as defined in the Term Loan Agreement) plus an agreed spread (ranging from 150 to 250 basis points), which is established quarterly based on the Company's then Leverage Ratio (as defined in the Term Loan Agreement and consistent with the Revolving Credit Facility). The Company must also maintain a Leverage Ratio and Interest Coverage Ratio consistent with the Revolving Credit Facility. 4.500% Senior Unsecured Notes Due 2026 On August 2, 2016, the Company issued $350.0 million aggregate principal amount of 4.500% senior notes (Senior Unsecured Notes) due August 2026. Interest on the Senior Unsecured Notes is payable semiannually on February 1 and August 1 of each year until all of the outstanding notes are paid. The Senior Unsecured Notes rank equal to existing and future senior indebtedness, including the Revolving Credit Facility and the Term Loan. Prior to August 1, 2021, we may redeem some or all of the Senior Unsecured Notes at a price equal to 100% of the principal amount, plus a “make-whole” premium. Beginning August 1, 2021, we may redeem some or all of the Senior Unsecured Notes at the redemption prices set forth below (expressed as a percentage of the principal amount being redeemed): Percentage 2021 102.25 % 2022 101.50 % 2023 100.75 % 2024 and thereafter 100.00 % The Senior Unsecured Notes contain covenants that limit our ability and/or our guarantor subsidiaries' ability to create or permit to exist certain liens; enter into sale and leaseback transactions; and consolidate, merge, or transfer all or substantially all of our assets. The Company’s Senior Unsecured Notes are fully, unconditionally, jointly, and severally guaranteed by each of our subsidiaries that are guarantors under the Revolving Credit Facility and Term Loan Agreement. 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 December 2020, we will exercise our option to purchase the cement plant for a nominal amount.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	(O) SEGMENT INFORMATION 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. On September 18, 2020, we sold our Oil and Gas Proppants business, which had been reported as an operating segment. The Oil and Gas Proppants business was determined to meet the discontinued operations accounting criteria; therefore, this segment is no longer separately reported in our reportable segment footnote for any of the periods presented. Certain expenses of the Oil and Gas Proppants business that related to assets not included in the sale, namely real property and equipment in south Texas, real property in Illinois, and certain other assets, are included in Other when reconciling segment operating earnings to consolidated operating earnings. See Footnote (C) for more information about the sale of the Oil and Gas Proppants business. We are a leading supplier of heavy construction materials and light building materials in the United States. Our primary products are commodities that are essential in commercial and residential construction; public construction projects; and projects to build, expand, and repair roads and highways. Demand for our products is generally cyclical and seasonal, depending on economic and geographic conditions. We distribute our products across many United States markets, which provides us with regional economic diversification. Our remaining businesses are organized into two sectors within which there are four 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. Our operations 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); the grinding and sale of slag; 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). We operate eight modern cement plants (one of which is operated through a joint venture located in Buda, Texas), one slag grinding facility, and 29 cement distribution terminals. Our cement companies focus on the U.S. heartland and operate as an integrated network selling product primarily in Colorado, Illinois, Indiana, Iowa, Kentucky, Missouri, Nebraska, Nevada, Ohio, Oklahoma, and Texas. We operate 20 readymix concrete batch plants and three aggregates processing plants in markets that are complementary to our cement network. On April 17, 2020 we sold our Concrete and Aggregates companies in northern California. See Footnote (C) for more information about the sale. We operate five gypsum wallboard plants and a recycled paperboard mill. We distribute gypsum wallboard and recycled paperboard throughout the continental U.S., with the exception of the Northeast. We account for intersegment sales at market prices. For segment reporting purposes only, we proportionately consolidate our 50% share of the Joint Venture Revenue and Operating Earnings, consistent with the way management reports the segments within the Company for making operating decisions and assessing performance. The following table sets forth certain financial information relating to our operations by segment. We do not allocate interest or taxes at the segment level; these costs are disclosed at the consolidated company level. For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) Revenue - Cement $ 278,062 $ 227,013 $ 539,473 $ 422,326 Concrete and Aggregates 46,300 55,971 90,490 95,749 Gypsum Wallboard 131,210 128,660 261,360 255,384 Paperboard 46,071 41,847 82,815 84,547 501,643 453,491 974,138 858,006 Less: Intersegment Revenue (26,766 ) (23,034 ) (46,972 ) (44,679 ) Less: Joint Venture Revenue (27,193 ) (29,888 ) (52,493 ) (57,393 ) $ 447,684 $ 400,569 $ 874,673 $ 755,934 For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) Intersegment Revenue - Cement $ 6,267 $ 6,703 $ 12,298 $ 10,956 Concrete and Aggregates — 407 106 784 Paperboard 20,499 15,924 34,568 32,939 $ 26,766 $ 23,034 $ 46,972 $ 44,679 Cement Sales Volume (M tons) - Wholly Owned 1,947 1,529 3,813 2,847 Joint Venture 233 249 452 481 2,180 1,778 4,265 3,328 For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) (dollars in thousands) Operating Earnings - Cement $ 79,913 $ 66,526 $ 140,368 $ 102,647 Concrete and Aggregates 5,255 7,255 10,673 11,689 Gypsum Wallboard 37,606 38,456 78,931 76,388 Paperboard 10,652 10,095 13,547 20,039 Other — (955 ) — (1,860 ) Sub-Total 133,426 121,377 243,519 208,903 Corporate General and Administrative Expense (11,109 ) (13,458 ) (28,898 ) (34,712 ) Gain on Sale of Businesses — — 51,973 — Other Non-Operating Income (Loss) (90 ) 585 (399 ) 723 Earnings Before Interest and Income Taxes 122,227 108,504 266,195 174,914 Interest Expense, net (12,556 ) (10,137 ) (26,597 ) (18,983 ) Earnings from Continuing Operations Before Income Taxes $ 109,671 $ 98,367 $ 239,598 $ 155,931 Cement Operating Earnings - Wholly Owned $ 69,336 $ 54,169 $ 121,995 $ 80,858 Joint Venture 10,577 12,357 18,373 21,789 $ 79,913 $ 66,526 $ 140,368 $ 102,647 Capital Expenditures - Cement $ 7,909 $ 8,209 $ 18,257 $ 18,746 Concrete and Aggregates 41 5,496 1,302 6,091 Gypsum Wallboard 4,070 6,443 10,582 8,374 Paperboard 2,665 17,239 10,535 29,599 $ 14,685 $ 37,387 $ 40,676 $ 62,810 Depreciation, Depletion, and Amortization - Cement $ 19,258 $ 13,868 $ 38,501 $ 28,086 Concrete and Aggregates 2,698 2,754 5,419 4,945 Gypsum Wallboard 5,661 5,147 10,861 10,099 Paperboard 3,344 2,203 6,696 4,366 Corporate and Other 1,201 598 2,501 1,195 $ 32,162 $ 24,570 $ 63,978 $ 48,691 Discontinued Operations Capital Expenditures $ — $ — $ — $ 65 Depreciation, Depletion, and Amortization $ 100 $ 3,803 $ 221 $ 7,642 September 30, March 31, 2020 2020 (dollars in thousands) Identifiable Assets Cement $ 1,952,280 $ 1,980,306 Concrete and Aggregates 96,566 136,041 Gypsum Wallboard 369,966 375,946 Paperboard 193,259 183,288 Assets of Discontinued Operations — 13,831 Other, net 259,212 271,608 $ 2,871,283 $ 2,961,020 The Capital Expenditures for the six months ended September 30, 2019 disclosed above differs from the capital expenditures on the Unaudited Consolidated Statement of Cash Flows as it includes $2.9 million of capital expenditures that were accrued at September 30, 2019 and therefore not included in the Statement of Cash Flows. See Footnote (B) for more information. Segment O perating E arnings, 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. 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 Unaudited Consolidated Balance Sheets and Unaudited Consolidated Statements of Earnings. The segment breakdown of Goodwill is as follows: September 30, March 31, 2020 2020 (dollars in thousands) Cement $ 203,342 $ 205,797 Concrete and Aggregates 1,639 1,639 Gypsum Wallboard 116,618 116,618 Paperboard 7,538 7,538 $ 329,137 $ 331,592 Summarized financial information for the Joint Venture that is not consolidated is set out below (this summarized financial information includes the total amount for the Joint Venture and not our 50% interest in those amounts): For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) (dollars in thousands) Revenue $ 54,387 $ 59,775 $ 104,987 $ 115,617 Gross Margin $ 23,004 $ 26,191 $ 39,769 $ 46,056 Earnings Before Income Taxes $ 21,154 $ 24,713 $ 36,745 $ 43,577 September 30, March 31, 2020 2020 (dollars in thousands) Current Assets $ 70,185 $ 77,331 Non-Current Assets $ 101,889 $ 93,093 Current Liabilities $ 16,917 $ 17,197

INTEREST EXPENSE

INTEREST EXPENSE	6 Months Ended
	Sep. 30, 2020
Banking And Thrift Interest [Abstract]
INTEREST EXPENSE	(P) INTEREST EXPENSE The following components are included in Interest Expense, net: For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) (dollars in thousands) Interest Income $ (40 ) $ (7 ) $ (40 ) $ (11 ) Interest Expense 11,672 9,861 24,692 18,432 Other Expenses 924 283 1,945 562 Interest Expense, net $ 12,556 $ 10,137 $ 26,597 $ 18,983 Interest Income includes interest earned on investments of excess cash. Components of Interest Expense include interest associated with the Revolving Credit Facility, Term Loan, Senior Unsecured Notes, and commitment fees based on the unused portion of the Revolving Credit Facility. Other Expenses include amortization of debt issuance costs and Revolving Credit Facility costs.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Sep. 30, 2020
Commitments And Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	(Q) COMMITMENTS AND CONTINGENCIES We have certain deductible limits under our workers’ compensation and liability insurance policies for which reserves are established based on the undiscounted estimated costs of known and anticipated claims. We have entered into standby letter of credit agreements relating to workers’ compensation and auto and general liability self-insurance. At September 30, 2020, we had contingent liabilities under these outstanding letters of credit of approximately $5.0 million. In the ordinary course of business, we execute contracts involving indemnifications that are standard in the industry and indemnifications specific to a transaction such as the sale of a business. These indemnifications may include claims relating to any of the following: environmental and tax matters; intellectual property rights; governmental regulations and employment-related matters; customer, supplier, and other commercial contractual relationships; construction contracts and financial matters. While the maximum amount to which the Company may be exposed under such agreements cannot be estimated, management believes these indemnifications will not have a material adverse effect on our consolidated financial position, results of operations, or cash flows. We currently have no outstanding guarantees. We are currently contingently liable for performance under $27.8 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.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	(R) FAIR VALUE OF FINANCIAL INSTRUMENTS The fair value of our long-term debt has been estimated based upon our current incremental borrowing rates for similar types of borrowing arrangements. The fair value of our Senior Unsecured Notes at September 30, 2020 is as follows: Fair Value (dollars in thousands) 4.500% Senior Unsecured Notes Due 2026 $ 364,613 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, restricted cash, cash equivalents, accounts and notes receivable, accounts payable, and accrued liabilities approximate their fair values at September 30,

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	6 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements RECENTLY ADOPTED In June 2016, the FASB issued ASU 2016-13, which is an update on the measurement of credit losses on financial instruments, which requires entities to use a forward-looking approach based on expected losses rather than the current model of incurred losses to estimate credit losses on certain types of financial instruments, including Accounts and Notes Receivable. The application of the forward-looking model may result in earlier recognition of allowances for losses than the current method. The adoption of this standard on April 1, 2020 did not have a material effect on our consolidated financial statements and disclosures. PENDING ADOPTION In December 2019, the FASB issued ASU 2019-12 which simplifies the accounting for income taxes, eliminates certain exceptions within existing income tax guidance, and clarifies certain aspects of the current guidance to promote consistency among reporting entities. The updated standard is effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. We do not expect the adoption of this standard will have a material impact to our consolidated financial statements.

SUPPLEMENTAL CASH FLOW INFORM_2

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)	6 Months Ended
	Sep. 30, 2020
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental cash flow information is as follows: For the Six Months Ended September 30, 2020 2019 (dollars in thousands) Cash Payments: Interest $ 24,897 $ 18,196 Income Taxes 23,200 19,643 Operating Cash Flows used for Operating Leases 6,127 7,861 Non-Cash Financing Activities: Property and Equipment Purchases Included in Accrued Liabilities $ — $ 2,868

DISCONTINUED OPERATIONS AND O_2

DISCONTINUED OPERATIONS AND OTHER DISPOSITIONS - (Tables)	6 Months Ended
	Sep. 30, 2020
Discontinued Operations And Disposal Groups [Abstract]
Summary of Disposal Groups, Including Discontinued Operations	The following is a summary of operating results included in Earnings (Loss) from Discontinued Operations for the three and six months ended September 30, 2020 and 2019. For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) Revenue $ 14 $ 13,957 $ 1,045 $ 29,189 Cost of Goods Sold 1,065 18,471 3,415 36,468 Gross Profit (1,051 ) (4,514 ) (2,370 ) (7,279 ) Other Non-Operating Income 44 357 226 419 Gain on Sale of Discontinued Operations 9,230 — 9,230 — Earnings (Loss) from Discontinued Operations 8,223 (4,157 ) 7,086 (6,860 ) Income Tax (Expense) Benefit (2,060 ) 886 (1,808 ) 1,560 Net Earnings (Loss) from Discontinued Operations $ 6,163 $ (3,271 ) $ 5,278 $ (5,300 ) The significant components of our Consolidated Statements of Cash Flows for discontinued operations for the six months ended September 30, 2020 and 2019 are as follows: For the Six Months Ended September 30, 2020 2019 (dollars in thousands) Depreciation and Amortization $ 221 $ 7,642 Gain on Sale (9,230 ) — Net Change in Inventory — 1,892 Capital Expenditures — 65 The following is a summary of assets and liabilities attributable to discontinued operations, which were included in our balance sheet at March 31, 2020: March 31, 2020 (dollars in thousands) ASSETS Accounts and Notes Receivable $ 9,019 Allowance for Doubtful Accounts (3,041 ) Inventories 387 Prepaid and Other Assets 727 Total Current Assets 7,092 Property, Plant, and Equipment, net 5,692 Operating Lease Right-of-Use Assets 1,047 Total Noncurrent Assets 6,739 $ 13,831 LIABILITIES Accounts Payable $ 2,014 Accrued Liabilities 2,851 Operating Lease Liabilities 3,622 Total Current Liabilities 8,487 Noncurrent Operating Lease Liabilities 9,570 Other Long-term Liabilities 5,857 Total Noncurrent Liabilities 15,427 $ 23,914
Summary of Revenue and Operating Earnings	Revenue and Operating Earnings from Western and Mathews, collectively, for the three and six months ended September 30, 2020 and 2019 were as follows: For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) Revenue $ — $ 9,575 $ 1,692 $ 17,376 Operating Earnings $ — $ 1,530 $ 142 $ 2,513

ACQUISITION (Tables)

ACQUISITION (Tables)	6 Months Ended
	Sep. 30, 2020
Business Combinations [Abstract]
Preliminary Fair Values of the Assets Acquired and Liabilities Assumed	The following table summarizes the provisional allocation of the purchase price to assets acquired and liabilities assumed as of September 30, 2020: (dollars in thousands) Inventories $ 28,568 Property, Plant, and Equipment 476,942 Intangible Assets 38,300 Lease Right-of-Use Assets 4,478 Lease Obligations (4,478 ) Long-term Liabilities (4,000 ) Total Net Assets 539,810 Goodwill 129,127 Total Estimated Purchase Price $ 668,937
Summary of the Fair Value Estimates of the Identifiable Intangible Assets	The following table is a summary of the fair value estimates of the identifiable intangible assets (dollars in thousands) and their weighted-average useful lives: Weighted-Average Life Estimated Fair Value Permits 20 $ 1,500 Customer Relationships 15 35,300 Trade Name and Technology 10 1,500 Total Intangible Assets $ 38,300
Actual and Pro Forma Impact on Net Sales and Operating Loss	Actual and pro forma impact of Kosmos Acquisition: For the Three Months Ended For the Six Months Ended September 30, 2020 (dollars in thousands) Revenue $ 50,018 $ 97,573 Operating Earnings $ 14,410 $ 24,970
Unaudited Pro Forma Results	The unaudited pro forma results presented below include the effects of the Kosmos Acquisition as if it had been consummated as of April 1, 2019. The pro forma results include estimates for depreciation from the fair value adjustments to acquired Property and Equipment, amortization for acquired Intangible Assets, the Inventory step-up to fair value, and interest expense associated with debt used to fund the Kosmos Acquisition. To better reflect the combined operating results, approximately $5.6 million of material nonrecurring charges directly related to the Kosmos Acquisition have been excluded from pro forma Net Income. For the Three Months Ended For the Six Months Ended September 30, 2019 Unaudited (dollars in thousands, except per share data) Revenue $ 461,402 $ 861,168 Net Earnings from Continuing Operations $ 71,700 $ 108,269 Earnings per share from Continuing Operations – basic $ 1.72 $ 2.53 Earnings per share from Continuing Operations – diluted $ 1.71 $ 2.52

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Sep. 30, 2020
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories are stated at the lower of average cost (including applicable material, labor, depreciation, and plant overhead) or net realizable value. Raw Materials and Materials-in-Progress include clinker, which is an intermediary product before it is ground into cement powder. Quantities of Raw Materials and Materials-in-Progress, Aggregates, and coal inventories, are based on measured volumes, subject to estimation based on the size and location of the inventory piles, and converted to tonnage using standard inventory density factors. Inventories consist of the following: September 30, March 31, 2020 2020 (dollars in thousands) Raw Materials and Materials-in-Progress $ 84,494 $ 110,558 Finished Cement 28,866 43,538 Aggregates 3,544 8,416 Gypsum Wallboard 4,015 4,211 Paperboard 4,887 5,715 Repair Parts and Supplies 89,177 88,094 Fuel and Coal 12,123 11,589 $ 227,106 $ 272,121

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	6 Months Ended
	Sep. 30, 2020
Payables And Accruals [Abstract]
Schedule of Accrued Expenses	Accrued Expenses consist of the following: September 30, March 31, 2020 2020 (dollars in thousands) Payroll and Incentive Compensation $ 22,789 $ 24,904 Benefits 15,362 12,447 Interest 3,811 4,080 Property Taxes 9,435 5,110 Power and Fuel 1,684 1,353 Legal and Professional 11,345 16,096 Sales and use Tax 1,052 1,085 Other 10,667 5,367 $ 76,145 $ 70,442

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Schedule of Lease Expense for Operating and Short-Term Leases Included In Continuing Operations	Lease expense for our operating and short-term leases included in continuing operations is as follows: For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) Operating Lease Cost $ 1,767 $ 2,098 $ 3,563 $ 4,008 Short-term Lease Cost 857 460 1,607 919 Total Lease Cost $ 2,624 $ 2,558 $ 5,170 $ 4,927
Schedule of Balance Sheet Information Related to Leases	The Right-of-Use Assets and Lease Liabilities are reflected on our Balance Sheet as follows: September 30, March 31, 2020 2020 (dollars in thousands) Operating Leases: Operating Lease Right-of-Use Assets $ 28,139 $ 29,483 Current Operating Lease Liabilities $ 6,810 $ 6,585 Noncurrent Operating Lease Liabilities 37,419 40,239 Total Operating Lease Liabilities $ 44,229 $ 46,824
Schedule of Future Payments for Operating Leases	Future payments for operating leases are as follows (dollars in thousands): Fiscal Year Amount 2021 (remaining six months) $ 4,239 2022 7,556 2023 6,969 2024 6,007 2025 5,651 Thereafter 24,585 Total Lease Payments $ 55,007 Less: Imputed Interest (10,778 ) Present Value of Lease Liabilities $ 44,229 Weighted-Average Remaining Lease Term (in years) 9.1 Weighted-Average Discount Rate 3.78 %

SHARE-BASED EMPLOYEE COMPENSA_2

SHARE-BASED EMPLOYEE COMPENSATION (Tables)	6 Months Ended
	Sep. 30, 2020
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 2021 are as follows: 2020 Dividend Yield — Expected Volatility 37.9 % Risk Free Interest Rate 0.5 % Expected Life 6.0 years
Stock Option Activity	The following table represents stock option activity for the six months ended September 30, 2020: Number of Shares Weighted- Average Exercise Price Outstanding Options at March 31, 2020 1,160,091 $ 80.36 Granted 178,946 $ 60.20 Exercised (41,519 ) $ 81.90 Cancelled (12,094 ) $ 91.58 Outstanding Options at September 30, 2020 1,285,424 $ 79.17 Options Exercisable at September 30, 2020 873,164 Weighted-Average Fair Value of Options Granted During the Year $ 22.04
Stock Options Outstanding	The following table summarizes information about stock options outstanding at September 30, 2020: Options Outstanding Options Exercisable Range of Exercise Prices Number of Shares Outstanding Weighted- Average Remaining Contractual Life (in years) Weighted- Average Exercise Price Number of Shares Outstanding Weighted- Average Exercise Price $23.17 - $29.84 39,165 0.84 $ 23.19 39,165 $ 23.19 $33.43 - $37.34 42,956 1.70 $ 34.14 42,956 $ 34.14 $53.22 - $77.67 446,709 6.72 $ 67.55 255,357 $ 72.53 $79.73 - $106.24 756,594 6.19 $ 91.49 535,686 $ 89.34 1,285,424 6.06 $ 79.17 873,164 $ 78.74
Summary of Activity for Nonvested Restricted Shares	The fair value of restricted stock is based on the stock price at the date of grant. The following table summarizes the activity for nonvested restricted shares during the six months ended September 30, 2020: Number of Shares Weighted-Average Grant Date Fair Value Nonvested Restricted Stock March 31, 2020 233,120 $ 75.35 Granted 178,373 $ 63.63 Vested (49,727 ) $ 66.22 Forfeited (6,127 ) $ 91.58 Nonvested Restricted Stock at September 30, 2020 355,639 $ 68.21

COMPUTATION OF EARNINGS PER S_2

COMPUTATION OF EARNINGS PER SHARE (Tables)	6 Months Ended
	Sep. 30, 2020
Earnings Per Share [Abstract]
Calculation of Basic and Diluted Common Shares Outstanding	The calculation of basic and diluted common shares outstanding is as follows: For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 Weighted-Average Shares of Common Stock Outstanding 41,450,013 41,572,127 41,430,511 42,714,896 Effect of Dilutive Shares: Assumed Exercise of Outstanding Dilutive Options 414,338 649,394 272,513 700,024 Less Shares Repurchased from Proceeds of Assumed Exercised Options (320,410 ) (509,571 ) (191,050 ) (550,609 ) Restricted Stock Units 105,378 121,825 94,427 121,404 Weighted-Average Common Stock and Dilutive Securities Outstanding 41,649,319 41,833,775 41,606,401 42,985,715 Shares Excluded Due to Anti-dilution Effects 795,382 448,354 929,990 388,058

PENSION AND EMPLOYEE BENEFIT _2

PENSION AND EMPLOYEE BENEFIT PLANS (Tables)	6 Months Ended
	Sep. 30, 2020
Compensation And Retirement Disclosure [Abstract]
Components of Net Periodic (Benefit) Cost	The following table shows the components of net periodic (benefit) cost for our plans: For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) Service Cost - Benefits Earned During the Period $ — $ 85 $ — $ 170 Interest Cost of Projected Benefit Obligation 304 338 608 675 Expected Return on Plan Assets (355 ) (426 ) (710 ) (853 ) Recognized Net Actuarial Loss 34 43 67 88 Net Periodic Pension (Benefit) Cost $ (17 ) $ 40 $ (35 ) $ 80

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	6 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Long-Term Debt	Long-term Debt consists of the following: September 30, March 31, 2020 2020 (dollars in thousands) Revolving Credit Facility $ 245,000 $ 560,000 4.500% Senior Unsecured Notes Due 2026 350,000 350,000 Term Loan 665,000 665,000 Total Debt 1,260,000 1,575,000 Less: Debt Origination Costs (7,284 ) (7,685 ) Long-term Debt $ 1,252,716 $ 1,567,315
Schedule of Senior Unsecured Notes Redemption Prices	Beginning August 1, 2021, we may redeem some or all of the Senior Unsecured Notes at the redemption prices set forth below (expressed as a percentage of the principal amount being redeemed): Percentage 2021 102.25 % 2022 101.50 % 2023 100.75 % 2024 and thereafter 100.00 %

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Financial Information Related to Operations by Segment	The following table sets forth certain financial information relating to our operations by segment. We do not allocate interest or taxes at the segment level; these costs are disclosed at the consolidated company level. For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) Revenue - Cement $ 278,062 $ 227,013 $ 539,473 $ 422,326 Concrete and Aggregates 46,300 55,971 90,490 95,749 Gypsum Wallboard 131,210 128,660 261,360 255,384 Paperboard 46,071 41,847 82,815 84,547 501,643 453,491 974,138 858,006 Less: Intersegment Revenue (26,766 ) (23,034 ) (46,972 ) (44,679 ) Less: Joint Venture Revenue (27,193 ) (29,888 ) (52,493 ) (57,393 ) $ 447,684 $ 400,569 $ 874,673 $ 755,934 For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) Intersegment Revenue - Cement $ 6,267 $ 6,703 $ 12,298 $ 10,956 Concrete and Aggregates — 407 106 784 Paperboard 20,499 15,924 34,568 32,939 $ 26,766 $ 23,034 $ 46,972 $ 44,679 Cement Sales Volume (M tons) - Wholly Owned 1,947 1,529 3,813 2,847 Joint Venture 233 249 452 481 2,180 1,778 4,265 3,328 For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) (dollars in thousands) Operating Earnings - Cement $ 79,913 $ 66,526 $ 140,368 $ 102,647 Concrete and Aggregates 5,255 7,255 10,673 11,689 Gypsum Wallboard 37,606 38,456 78,931 76,388 Paperboard 10,652 10,095 13,547 20,039 Other — (955 ) — (1,860 ) Sub-Total 133,426 121,377 243,519 208,903 Corporate General and Administrative Expense (11,109 ) (13,458 ) (28,898 ) (34,712 ) Gain on Sale of Businesses — — 51,973 — Other Non-Operating Income (Loss) (90 ) 585 (399 ) 723 Earnings Before Interest and Income Taxes 122,227 108,504 266,195 174,914 Interest Expense, net (12,556 ) (10,137 ) (26,597 ) (18,983 ) Earnings from Continuing Operations Before Income Taxes $ 109,671 $ 98,367 $ 239,598 $ 155,931 Cement Operating Earnings - Wholly Owned $ 69,336 $ 54,169 $ 121,995 $ 80,858 Joint Venture 10,577 12,357 18,373 21,789 $ 79,913 $ 66,526 $ 140,368 $ 102,647 Capital Expenditures - Cement $ 7,909 $ 8,209 $ 18,257 $ 18,746 Concrete and Aggregates 41 5,496 1,302 6,091 Gypsum Wallboard 4,070 6,443 10,582 8,374 Paperboard 2,665 17,239 10,535 29,599 $ 14,685 $ 37,387 $ 40,676 $ 62,810 Depreciation, Depletion, and Amortization - Cement $ 19,258 $ 13,868 $ 38,501 $ 28,086 Concrete and Aggregates 2,698 2,754 5,419 4,945 Gypsum Wallboard 5,661 5,147 10,861 10,099 Paperboard 3,344 2,203 6,696 4,366 Corporate and Other 1,201 598 2,501 1,195 $ 32,162 $ 24,570 $ 63,978 $ 48,691 Discontinued Operations Capital Expenditures $ — $ — $ — $ 65 Depreciation, Depletion, and Amortization $ 100 $ 3,803 $ 221 $ 7,642 September 30, March 31, 2020 2020 (dollars in thousands) Identifiable Assets Cement $ 1,952,280 $ 1,980,306 Concrete and Aggregates 96,566 136,041 Gypsum Wallboard 369,966 375,946 Paperboard 193,259 183,288 Assets of Discontinued Operations — 13,831 Other, net 259,212 271,608 $ 2,871,283 $ 2,961,020
Segment Breakdown of Goodwill	The segment breakdown of Goodwill is as follows: September 30, March 31, 2020 2020 (dollars in thousands) Cement $ 203,342 $ 205,797 Concrete and Aggregates 1,639 1,639 Gypsum Wallboard 116,618 116,618 Paperboard 7,538 7,538 $ 329,137 $ 331,592
Summarized Financial Information for Joint Venture Unconsolidated	Summarized financial information for the Joint Venture that is not consolidated is set out below (this summarized financial information includes the total amount for the Joint Venture and not our 50% interest in those amounts): For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) (dollars in thousands) Revenue $ 54,387 $ 59,775 $ 104,987 $ 115,617 Gross Margin $ 23,004 $ 26,191 $ 39,769 $ 46,056 Earnings Before Income Taxes $ 21,154 $ 24,713 $ 36,745 $ 43,577 September 30, March 31, 2020 2020 (dollars in thousands) Current Assets $ 70,185 $ 77,331 Non-Current Assets $ 101,889 $ 93,093 Current Liabilities $ 16,917 $ 17,197

INTEREST EXPENSE (Tables)

INTEREST EXPENSE (Tables)	6 Months Ended
	Sep. 30, 2020
Banking And Thrift Interest [Abstract]
Interest Expense, Net	The following components are included in Interest Expense, net: For the Three Months Ended September 30, For the Six Months Ended September 30, 2020 2019 2020 2019 (dollars in thousands) (dollars in thousands) Interest Income $ (40 ) $ (7 ) $ (40 ) $ (11 ) Interest Expense 11,672 9,861 24,692 18,432 Other Expenses 924 283 1,945 562 Interest Expense, net $ 12,556 $ 10,137 $ 26,597 $ 18,983

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value of Senior Notes	The fair value of our long-term debt has been estimated based upon our current incremental borrowing rates for similar types of borrowing arrangements. The fair value of our Senior Unsecured Notes at September 30, 2020 is as follows: Fair Value (dollars in thousands) 4.500% Senior Unsecured Notes Due 2026 $ 364,613

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash Payments:
Interest	$ 24,897	$ 18,196
Income Taxes	23,200	19,643
Operating Cash Flows used for Operating Leases	$ 6,127	7,861
Non-Cash Financing Activities:
Property and Equipment Purchases Included in Accrued Liabilities		$ 2,868

Discontinued Operations and O_3

Discontinued Operations and Other Dispositions - Additional Information (Detail) - USD ($) shares in Millions	Sep. 18, 2020	Apr. 17, 2020	Sep. 30, 2020	Mar. 31, 2020
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Outstanding borrowings			$ 500,000,000
Gain on Sale of Businesses			51,973,000
Gain (Loss) on sale of Subsidiary			61,203,000
Assets			2,871,283,000	$ 2,961,020,000
Liabilities			1,703,252,000	1,993,177,000
Discontinued Operations, Disposed of by Sale [Member] | Smart Sand, Inc. [Member] | Loan and Security Agreement [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Loan amount provided to the purchaser	$ 5,000,000
Escrow deposit	$ 5,000,000
Percentage of loan amount outstanding in shares	50.00%
Fixed rate of interest on loan	6.00%
Interest payment period	one-year
Fixed rate of interest on loan, maturity date	Sep. 18, 2024
Outstanding borrowings			0
Discontinued Operations, Disposed of by Sale [Member] | Smart Sand, Inc. [Member] | Loan and Security Agreement [Member] | Modified Interest Rate [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Fixed modified interest rate after a specific time period	8.00%
Discontinued Operations, Disposed of by Sale [Member] | Smart Sand, Inc. [Member] | Restricted Cash [Member] | Loan and Security Agreement [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Escrow deposit			5,000,000
Western Aggregates LLC and Mathews Readymix LLC [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Assets		$ 43,800,000
Liabilities		2,300,000
Western Aggregates LLC and Mathews Readymix LLC [Member] | Teichert Inc
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Purcahse price of acquisition		93,500,000
Gain (Loss) on sale of Subsidiary		$ 52,000,000
Oil and Gas Proppants [Member] | Discontinued Operations, Disposed of by Sale [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Gain on Sale of Businesses			$ 9,200,000
Assets				13,831,000
Liabilities				$ 23,914,000
Oil and Gas Proppants [Member] | Discontinued Operations, Disposed of by Sale [Member] | Smart Sand, Inc. [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Purchase price paid in shares of common stock	2
Oil and Gas Proppants [Member] | Discontinued Operations, Disposed of by Sale [Member] | Smart Sand, Inc. [Member] | Prepaid and Other Assets [Member] | Indemnification Claims as Escrow Deposit [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Purchase price paid in shares of common stock			0.3

Discontinued Operations and O_4

Discontinued Operations and Other Dispositions - Summary of Operating Results from Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net Earnings (Loss) from Discontinued Operations	$ 6,163	$ (3,271)	$ 5,278	$ (5,300)
Discontinued Operations, Disposed of by Sale [Member] | Oil and Gas Proppants [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Revenue	14	13,957	1,045	29,189
Cost of Goods Sold	1,065	18,471	3,415	36,468
Gross Profit	(1,051)	(4,514)	(2,370)	(7,279)
Other Non-Operating Income	44	357	226	419
Gain on Sale of Discontinued Operations	9,230		9,230
Earnings (Loss) from Discontinued Operations	8,223	(4,157)	7,086	(6,860)
Income Tax (Expense) Benefit	(2,060)	886	(1,808)	1,560
Net Earnings (Loss) from Discontinued Operations	$ 6,163	$ (3,271)	$ 5,278	$ (5,300)

Discontinued Operations and O_5

Discontinued Operations and Other Dispositions - Summary of Significant Components of Consolidated Statement of Cash Flows for Discontinued Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Depreciation and Amortization	$ 100	$ 3,803	$ 221	$ 7,642
Capital Expenditures				65
Discontinued Operations, Disposed of by Sale [Member] | Oil and Gas Proppants [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Depreciation and Amortization			221	7,642
Gain on Sale			$ (9,230)
Net Change in Inventory				1,892
Capital Expenditures				$ 65

Discontinued Operations and O_6

Discontinued Operations and Other Dispositions - Summary of Assets and Liabilities Attributable to Discontinued Operations (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020
ASSETS
Total Current Assets		$ 7,092
Operating Lease Right-of-Use Assets	$ 28,139	29,483
Total Noncurrent Assets		6,739
Total Assets	2,871,283	2,961,020
LIABILITIES
Operating Lease Liabilities	6,810	6,585
Total Current Liabilities		8,487
Noncurrent Operating Lease Liabilities	37,419	40,239
Total Noncurrent Liabilities		15,427
Total Liabilities	$ 1,703,252	1,993,177
Discontinued Operations, Disposed of by Sale [Member] | Oil and Gas Proppants [Member]
ASSETS
Accounts and Notes Receivable		9,019
Allowance for Doubtful Accounts		(3,041)
Inventories		387
Prepaid and Other Assets		727
Total Current Assets		7,092
Property, Plant, and Equipment, net		5,692
Operating Lease Right-of-Use Assets		1,047
Total Noncurrent Assets		6,739
Total Assets		13,831
LIABILITIES
Accounts Payable		2,014
Accrued Liabilities		2,851
Operating Lease Liabilities		3,622
Total Current Liabilities		8,487
Noncurrent Operating Lease Liabilities		9,570
Other Long-term Liabilities		5,857
Total Noncurrent Liabilities		15,427
Total Liabilities		$ 23,914

Discontinued Operations and O_7

Discontinued Operations and Other Dispositions - Summary of Revenue and Operating Earnings (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Revenue	$ 447,684	$ 400,569	$ 874,673	$ 755,934
Operating Earnings	$ 133,426	121,377	243,519	208,903
Mathews Readymix LLC and Western Aggregates LLC [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Revenue		9,575	1,692	17,376
Operating Earnings		$ 1,530	$ 142	$ 2,513

Acquisition - Additional Inform

Acquisition - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 06, 2020	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Business Acquisition [Line Items]
Purchase price of acquisition				$ 30,872
Depreciation and amortization		$ 5,400	$ 10,700
Inventories		3,700	3,700
Kosmos Acquisition [Member]
Business Acquisition [Line Items]
Date of acquisition of business	Mar. 6, 2020
Purchase price of acquisition	$ 669,000
Inventories		28,568	28,568
Nonrecurring charges		$ 5,600	$ 5,600

Preliminary Fair Values of the

Preliminary Fair Values of the Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020
Business Acquisition [Line Items]
Inventories	$ 3,700
Lease Right-of-Use Assets	28,139	$ 29,483
Lease Obligations	(37,419)	(40,239)
Goodwill	329,137	$ 331,592
Kosmos Acquisition [Member]
Business Acquisition [Line Items]
Inventories	28,568
Property, Plant, and Equipment	476,942
Intangible Assets	38,300
Lease Right-of-Use Assets	4,478
Lease Obligations	(4,478)
Long-term Liabilities	(4,000)
Total Net Assets	539,810
Goodwill	129,127
Total Estimated Purchase Price	$ 668,937

Summary of the Fair Value Estim

Summary of the Fair Value Estimates of the Identifiable Intangible Assets (Detail) - Kosmos Acquisition [Member] - Estimated Fair Value [Member] $ in Thousands	6 Months Ended
	Sep. 30, 2020USD ($)
Business Acquisition [Line Items]
Estimated Fair Value	$ 38,300
Permits [Member]
Business Acquisition [Line Items]
Intangible Assets, Useful Life	20 years
Estimated Fair Value	$ 1,500
Customer Relationships [Member]
Business Acquisition [Line Items]
Intangible Assets, Useful Life	15 years
Estimated Fair Value	$ 35,300
Trade Name and Technology [Member]
Business Acquisition [Line Items]
Intangible Assets, Useful Life	10 years
Estimated Fair Value	$ 1,500

Actual and Pro Forma Impact on

Actual and Pro Forma Impact on Net Sales and Operating Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Business Acquisition [Line Items]
Revenue	$ 447,684	$ 400,569	$ 874,673	$ 755,934
Operating Earnings	133,426	$ 121,377	243,519	$ 208,903
Kosmos Acquisition [Member] | Pro Forma [Member]
Business Acquisition [Line Items]
Revenue	50,018		97,573
Operating Earnings	$ 14,410		$ 24,970

Unaudited Pro Forma Results (De

Unaudited Pro Forma Results (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Business Combinations [Abstract]
Revenue	$ 461,402	$ 861,168
Net Earnings from Continuing Operations	$ 71,700	$ 108,269
Earnings per share from Continuing Operations – basic	$ 1.72	$ 2.53
Earnings per share from Continuing Operations – diluted	$ 1.71	$ 2.52

Revenue - Additional Informatio

Revenue - Additional Information (Detail)	6 Months Ended
	Sep. 30, 2020
Minimum [Member]
Supply Commitment [Line Items]
Long-term supply agreements maturity year	2023
Revenue from contract with customer collection terms	30 days
Maximum [Member]
Supply Commitment [Line Items]
Long-term supply agreements maturity year	2025
Revenue from contract with customer collection terms	75 days

Accounts and Notes Receivable -

Accounts and Notes Receivable - Additional Information (Detail) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2020	Mar. 31, 2020
Accounts Notes And Loans Receivable [Line Items]
Notes Receivable, total	$ 8.3
Notes Receivable interest rate	3.60%
Notes Receivable, maturity description	Remaining unpaid amounts, plus accrued interest, mature in 2026.
Discontinued Operations [Member]
Accounts Notes And Loans Receivable [Line Items]
Allowance for doubtful accounts	$ 8	$ 9.3

Schedule of Inventories (Detail

Schedule of Inventories (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020
Inventory [Line Items]
Inventories	$ 227,106	$ 272,121
Raw Materials and Materials-in-Progress [Member]
Inventory [Line Items]
Inventories	84,494	110,558
Finished Cement [Member]
Inventory [Line Items]
Inventories	28,866	43,538
Aggregates [Member]
Inventory [Line Items]
Inventories	3,544	8,416
Gypsum Wallboard [Member]
Inventory [Line Items]
Inventories	4,015	4,211
Paperboard [Member]
Inventory [Line Items]
Inventories	4,887	5,715
Repair Parts and Supplies [Member]
Inventory [Line Items]
Inventories	89,177	88,094
Fuel and Coal [Member]
Inventory [Line Items]
Inventories	$ 12,123	$ 11,589

Schedule of Accrued Expenses (D

Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020
Accounts Payable And Accrued Liabilities Current [Abstract]
Payroll and Incentive Compensation	$ 22,789	$ 24,904
Benefits	15,362	12,447
Interest	3,811	4,080
Property Taxes	9,435	5,110
Power and Fuel	1,684	1,353
Legal and Professional	11,345	16,096
Sales and use Tax	1,052	1,085
Other	10,667	5,367
Accrued Expenses, Total	$ 76,145	$ 70,442

Leases - Additional Information

Leases - Additional Information (Detail)	Sep. 30, 2020
Minimum [Member]
Lessee Lease Description [Line Items]
Operating lease term	1 year
Maximum [Member]
Lessee Lease Description [Line Items]
Operating lease term	20 years

Schedule of Lease Expense for O

Schedule of Lease Expense for Operating and Short-Term Leases Included In Continuing Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating Lease Cost	$ 1,767	$ 2,098	$ 3,563	$ 4,008
Short-term Lease Cost	857	460	1,607	919
Total Lease Cost	$ 2,624	$ 2,558	$ 5,170	$ 4,927

Schedule of Balance Sheet Infor

Schedule of Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020
Operating Leases:
Operating Lease Right-of-Use Assets	$ 28,139	$ 29,483
Current Operating Lease Liabilities	6,810	6,585
Noncurrent Operating Lease Liabilities	37,419	40,239
Total Operating Lease Liabilities	$ 44,229	$ 46,824

Schedule of Future Payments for

Schedule of Future Payments for Operating Leases (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020
Leases [Abstract]
2021 (remaining six months)	$ 4,239
2022	7,556
2023	6,969
2024	6,007
2025	5,651
Thereafter	24,585
Total Lease Payments	55,007
Less: Imputed Interest	(10,778)
Present Value of Lease Liabilities	$ 44,229	$ 46,824
Weighted-Average Remaining Lease Term (in years)	9 years 1 month 6 days
Weighted-Average Discount Rate	3.78%

Share-Based Employee Compensa_3

Share-Based Employee Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended			6 Months Ended
	May 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Aug. 31, 2020	Aug. 07, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant				3,455,865		3,455,865		3,000,000
Stock option expense		$ 1.1		$ 1.2	$ 2.8	$ 2.3
Aggregate intrinsic value for outstanding options		14.3			14.3
Aggregate intrinsic value for exercisable options		9.5			9.5
Total intrinsic value of options exercised					2.3
Restricted stock or unit expense		2.4		$ 2.7	$ 5.4	$ 9.8
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	96,476
Reduced percentage of shares earned in stock options plan			66.70%
Stock based compensation plan, description			The performance criteria for the Fiscal 2021 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, 2021. All stock options 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 granted stock options will be 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, 2022
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, 2024
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	80,396
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		8.9			$ 8.9
Weighted-average period of recognition of unrecognized compensation cost					2 years 7 months 6 days
Performance Vesting Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant	82,722
Stock based compensation plan, description			The performance criteria for the Fiscal 2021 Employee Restricted Stock Performance Award is based upon the achievement of certain levels of return on equity (as defined in the award agreement), ranging from 10.0% to 20.0%, for the fiscal year ending March 31, 2021. 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, 2021
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	68,936
Share-based compensation vesting period	4 years
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant							26,064
Weighted-average period of recognition of unrecognized compensation cost					2 years 4 months 24 days
Weighted average grant date fair value, shares awarded					$ 63.63
Unrecognized compensation cost		$ 17.5			$ 17.5

Weighted-Average Assumptions Us

Weighted-Average Assumptions Used to Value Option Awards (Detail) - Long Term Compensation Plan [Member] - Stock Options [Member]	6 Months Ended
	Sep. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected Volatility	37.90%
Risk Free Interest Rate	0.50%
Expected Life	6 years

Stock Option Activity (Detail)

Stock Option Activity (Detail) - $ / shares	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Shares, Outstanding Options at March 31, 2020	1,160,091	1,160,091
Number of Shares, Granted		178,946
Number of Shares, Exercised		(41,519)
Number of Shares, Cancelled		(12,094)
Number of Shares, Outstanding Options at September 30, 2020	1,160,091	1,160,091	1,285,424
Number of Shares, Options Exercisable at September 30, 2020		873,164
Weighted-Average Exercise Price, Outstanding Options at March 31, 2020	$ 80.36	$ 80.36
Weighted-Average Exercise Price, Granted		60.20
Weighted-Average Exercise Price, Exercised		81.90
Weighted-Average Exercise Price, Cancelled		91.58
Weighted-Average Exercise Price, Outstanding Options at September 30, 2020		$ 79.17
Weighted Average Fair Value of Options Granted During the Year	$ 22.04

Stock Options Outstanding (Deta

Stock Options Outstanding (Detail)	6 Months Ended
	Sep. 30, 2020$ / sharesshares
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Options Outstanding, Number of Shares Outstanding | shares	1,285,424
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	6 years 21 days
Options Outstanding, Weighted-Average Exercise Price	$ 79.17
Options Exercisable , Number of Shares Outstanding | shares	873,164
Options Exercisable, Weighted-Average Exercise Price	$ 78.74
$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	39,165
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	10 months 2 days
Options Outstanding, Weighted-Average Exercise Price	$ 23.19
Options Exercisable , Number of Shares Outstanding | shares	39,165
Options Exercisable, Weighted-Average Exercise Price	$ 23.19
$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	42,956
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	1 year 8 months 12 days
Options Outstanding, Weighted-Average Exercise Price	$ 34.14
Options Exercisable , Number of Shares Outstanding | shares	42,956
Options Exercisable, Weighted-Average Exercise Price	$ 34.14
$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	446,709
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	6 years 8 months 19 days
Options Outstanding, Weighted-Average Exercise Price	$ 67.55
Options Exercisable , Number of Shares Outstanding | shares	255,357
Options Exercisable, Weighted-Average Exercise Price	$ 72.53
$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	756,594
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	6 years 2 months 8 days
Options Outstanding, Weighted-Average Exercise Price	$ 91.49
Options Exercisable , Number of Shares Outstanding | shares	535,686
Options Exercisable, Weighted-Average Exercise Price	$ 89.34

Summary of Activity for Nonvest

Summary of Activity for Nonvested Restricted Shares (Detail) - Restricted Stock [Member]	6 Months Ended
	Sep. 30, 2020$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Nonvested Restricted Stock March 31, 2020 | shares	233,120
Number of Shares, Granted | shares	178,373
Number of Shares, Vested | shares	(49,727)
Number of Shares, Forfeited | shares	(6,127)
Number of Shares, Nonvested Restricted Stock at June 30, 2020 | shares	355,639
Weighted Average Grant Date Fair Value, Nonvested Restricted Stock March 31, 2020 | $ / shares	$ 75.35
Weighted Average Grant Date Fair Value, Granted | $ / shares	63.63
Weighted Average Grant Date Fair Value, Vested | $ / shares	66.22
Weighted Average Grant Date Fair Value, Forfeited | $ / shares	91.58
Weighted Average Grant Date Fair Value, Nonvested Restricted Stock at June 30, 2020 | $ / shares	$ 68.21

Calculation of Basic and Dilute

Calculation of Basic and Diluted Common Shares Outstanding (Detail) - shares	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Weighted-Average Shares of Common Stock Outstanding	41,450,013	41,572,127	41,430,511	42,714,896
Assumed Exercise of Outstanding Dilutive Options	414,338	649,394	272,513	700,024
Less Shares Repurchased from Proceeds of Assumed Exercised Options	(320,410)	(509,571)	(191,050)	(550,609)
Restricted Stock Units	105,378	121,825	94,427	121,404
Weighted-Average Common Stock and Dilutive Securities Outstanding	41,649,319	41,833,775	41,606,401	42,985,715
Shares Excluded Due to Anti-dilution Effects	795,382	448,354	929,990	388,058

Components of Net Periodic (Ben

Components of Net Periodic (Benefit) Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Compensation And Retirement Disclosure [Abstract]
Service Cost - Benefits Earned During the Period		$ 85		$ 170
Interest Cost of Projected Benefit Obligation	$ 304	338	$ 608	675
Expected Return on Plan Assets	(355)	(426)	(710)	(853)
Recognized Net Actuarial Loss	34	43	67	88
Net Periodic Pension (Benefit) Cost	$ (17)	$ 40	$ (35)	$ 80

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Effective tax rate	22.00%	24.00%
Statutory tax rate	21.00%

Long-Term Debt (Detail)

Long-Term Debt (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020	Aug. 02, 2016
Debt Instrument [Line Items]
Revolving Credit Facility	$ 245,000	$ 560,000
Total Debt	1,260,000	1,575,000
Less: Debt Origination Costs	(7,284)	(7,685)
Long-term Debt	1,252,716	1,567,315
4.500% Senior Unsecured Notes Due 2026 [Member]
Debt Instrument [Line Items]
Total Debt	350,000	350,000	$ 350,000
Term Loan [Member]
Debt Instrument [Line Items]
Total Debt	$ 665,000	$ 665,000

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Detail)	Dec. 20, 2019	Aug. 02, 2016USD ($)	Oct. 31, 2014	Sep. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Supplementary leverage ratio			4.50
Interest coverage ratio			250.00%
Borrowings outstanding under Credit Facility				$ 245,000,000	$ 560,000,000
Credit Facility, borrowings available				500,000,000
Letter of Credit Facility				40,000,000
Outstanding letters of credit , amount				5,000,000		$ 5,000,000
Debt instrument, principal amount				$ 1,260,000,000	1,575,000,000
Maturity Period 2021 [Member]
Debt Instrument [Line Items]
Unused line of credit commitment fee based on leverage ratio			0.15%
Maturity Period 2022 [Member]
Debt Instrument [Line Items]
Unused line of credit commitment fee based on leverage ratio			0.20%
Maximum [Member] | Maturity Period 2021 [Member]
Debt Instrument [Line Items]
Unused line of credit commitment fee based on leverage ratio			0.30%
Maximum [Member] | Maturity Period 2022 [Member]
Debt Instrument [Line Items]
Unused line of credit commitment fee based on leverage ratio			0.40%
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member] | Maturity Period 2021 [Member]
Debt Instrument [Line Items]
Variable margin			1.25%
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member] | Maturity Period 2021 [Member]
Debt Instrument [Line Items]
Variable margin			2.00%
NYFRB [Member] | Minimum [Member]
Debt Instrument [Line Items]
Consolidated Funded Indebtedness Ratio	1.50%
NYFRB [Member] | Minimum [Member] | Maturity Period 2022 [Member]
Debt Instrument [Line Items]
Variable margin			1.50%
NYFRB [Member] | Maximum [Member]
Debt Instrument [Line Items]
Consolidated Funded Indebtedness Ratio	2.50%
NYFRB [Member] | Maximum [Member] | Maturity Period 2022 [Member]
Debt Instrument [Line Items]
Variable margin			2.50%
Term Loan Agreement [Member]
Debt Instrument [Line Items]
Credit facility, interest rate description				Borrowings under the Term Loan Agreement bear interest, at our option, at a variable rate equal to either (i) the Alternate Base Rate (as defined in the Term Loan Agreement and consistent with the Revolving Credit Facility), plus an agreed spread (ranging from 50 to 150 basis points), or (ii) the Adjusted LIBO Rate (as defined in the Term Loan Agreement) plus an agreed spread (ranging from 150 to 250 basis points), which is established quarterly based on the Company's then Leverage Ratio (as defined in the Term Loan Agreement and consistent with the Revolving Credit Facility). The Company must also maintain a Leverage Ratio and Interest Coverage Ratio consistent with the Revolving Credit Facility.
Term loan facility, unused borrowing capacity, Amount				$ 665,000
Term loan Maturity Date				Aug. 2, 2022
Term Loan Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Variable margin	0.50%
Term Loan Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument [Line Items]
Variable margin	1.50%
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%
Interest payment period		August 2026
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%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility, principal balance				$ 750,000,000
Credit Facility, available at the end				$ 665,000,000
Credit Facility, termination date				Aug. 2, 2022
Revolving Credit Facility [Member] | Swingline Loan [Member]
Debt Instrument [Line Items]
Credit Facility, principal balance				$ 25,000,000
Line of Credit | Maximum [Member]
Debt Instrument [Line Items]
Variable margin			0.50%
Letter of Credit [Member]
Debt Instrument [Line Items]
Unused line of credit commitment fee based on leverage ratio				0.125%

Schedule of Senior Unsecured No

Schedule of Senior Unsecured Notes Redemption Prices (Detail) - 4.500% Senior Unsecured Notes Due 2026 [Member]	6 Months Ended
	Sep. 30, 2020
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%

Segment Information - Additiona

Segment Information - Additional Information (Detail) $ in Millions	6 Months Ended
	Sep. 30, 2020USD ($)LocationFacilityTerminalPlantSectorSegment
Segment Reporting [Abstract]
Number of sectors | Sector	2
Number of reportable business segments | Segment	4
Cement plant locations | Location	8
Slag grinding facility | Facility	1
Cement distribution terminals | Terminal	29
Readymix concrete batch plants	20
Aggregates processing plants	3
Gypsum wallboard plants	5
Proportionate consolidation of share of joint venture revenues and operating earnings	50.00%
Accrued capital expenditures | $	$ 2.9

Financial Information Related t

Financial Information Related to Operations by Segment (Detail) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020USD ($)kT	Sep. 30, 2019USD ($)kT	Sep. 30, 2020USD ($)kT	Sep. 30, 2019USD ($)kT	Mar. 31, 2020USD ($)
Segment Reporting Information [Line Items]
Revenue	$ 447,684	$ 400,569	$ 874,673	$ 755,934
Less: Joint Venture Revenue	(27,193)	(29,888)	(52,493)	(57,393)
Operating Earnings	133,426	121,377	243,519	208,903
Other		(955)		(1,860)
Corporate General and Administrative Expense	(11,109)	(13,458)	(28,898)	(34,712)
Gain on Sale of Businesses			51,973
Other Non-Operating Income (Loss)	(90)	585	(399)	723
Earnings Before Interest and Income Taxes	122,227	108,504	266,195	174,914
Interest Expense, Net	(12,556)	(10,137)	(26,597)	(18,983)
Earnings from Continuing Operations Before Income Taxes	109,671	98,367	239,598	155,931
Capital Expenditures	14,685	37,387	40,676	62,810
Depreciation, Depletion and Amortization			64,199	56,333
Capital Expenditures				65
Depreciation and Amortization	100	3,803	221	7,642
Identifiable Assets	2,871,283		2,871,283		$ 2,961,020
Assets of Discontinued Operations					13,831
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	501,643	453,491	974,138	858,006
Operating Earnings	79,913	66,526	140,368	102,647
Depreciation, Depletion and Amortization	32,162	24,570	63,978	48,691
Operating Segments [Member] | Wholly-Owned [Member]
Segment Reporting Information [Line Items]
Operating Earnings	69,336	54,169	121,995	80,858
Operating Segments [Member] | Joint Venture [Member]
Segment Reporting Information [Line Items]
Operating Earnings	10,577	12,357	18,373	21,789
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	(26,766)	(23,034)	(46,972)	(44,679)
Revenue	(26,766)	(23,034)	(46,972)	(44,679)
Other, net [Member]
Segment Reporting Information [Line Items]
Identifiable Assets	259,212		259,212		271,608
Cement [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	$ 278,062	$ 227,013	$ 539,473	$ 422,326
Cement Sales Volume | kT	2,180	1,778	4,265	3,328
Operating Earnings	$ 79,913	$ 66,526	$ 140,368	$ 102,647
Capital Expenditures	7,909	8,209	18,257	18,746
Depreciation, Depletion and Amortization	19,258	$ 13,868	38,501	$ 28,086
Identifiable Assets	$ 1,952,280		$ 1,952,280		1,980,306
Cement [Member] | Operating Segments [Member] | Wholly-Owned [Member]
Segment Reporting Information [Line Items]
Cement Sales Volume | kT	1,947	1,529	3,813	2,847
Cement [Member] | Operating Segments [Member] | Joint Venture [Member]
Segment Reporting Information [Line Items]
Cement Sales Volume | kT	233	249	452	481
Cement [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	$ (6,267)	$ (6,703)	$ (12,298)	$ (10,956)
Concrete and Aggregates [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	46,300	55,971	90,490	95,749
Operating Earnings	5,255	7,255	10,673	11,689
Capital Expenditures	41	5,496	1,302	6,091
Depreciation, Depletion and Amortization	2,698	2,754	5,419	4,945
Identifiable Assets	96,566		96,566		136,041
Concrete and Aggregates [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue		(407)	(106)	(784)
Gypsum Wallboard [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	131,210	128,660	261,360	255,384
Operating Earnings	37,606	38,456	78,931	76,388
Capital Expenditures	4,070	6,443	10,582	8,374
Depreciation, Depletion and Amortization	5,661	5,147	10,861	10,099
Identifiable Assets	369,966		369,966		375,946
Paperboard [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	46,071	41,847	82,815	84,547
Operating Earnings	10,652	10,095	13,547	20,039
Capital Expenditures	2,665	17,239	10,535	29,599
Depreciation, Depletion and Amortization	3,344	2,203	6,696	4,366
Identifiable Assets	193,259		193,259		$ 183,288
Paperboard [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	(20,499)	(15,924)	(34,568)	(32,939)
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Depreciation, Depletion and Amortization	$ 1,201	$ 598	$ 2,501	$ 1,195

Segment Breakdown of Goodwill (

Segment Breakdown of Goodwill (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Mar. 31, 2020
Segment Reporting Information [Line Items]
Goodwill	$ 329,137	$ 331,592
Cement [Member]
Segment Reporting Information [Line Items]
Goodwill	203,342	205,797
Concrete and Aggregates [Member]
Segment Reporting Information [Line Items]
Goodwill	1,639	1,639
Gypsum Wallboard [Member]
Segment Reporting Information [Line Items]
Goodwill	116,618	116,618
Paperboard [Member]
Segment Reporting Information [Line Items]
Goodwill	$ 7,538	$ 7,538

Summarized Financial Informatio

Summarized Financial Information for Joint Venture Unconsolidated (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Mar. 31, 2020
Related Party Transaction [Line Items]
Revenue	$ 447,684	$ 400,569	$ 874,673	$ 755,934
Gross Margin	122,849	109,020	225,146	187,114
Earnings from Continuing Operations Before Income Taxes	109,671	98,367	239,598	155,931
Current Assets	648,407		648,407		$ 678,217
Current Liabilities	163,085		163,085		169,697
Joint Venture [Member] | Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Related Party Transaction [Line Items]
Revenue	54,387	59,775	104,987	115,617
Gross Margin	23,004	26,191	39,769	46,056
Earnings from Continuing Operations Before Income Taxes	21,154	$ 24,713	36,745	$ 43,577
Current Assets	70,185		70,185		77,331
Non-Current Assets	101,889		101,889		93,093
Current Liabilities	$ 16,917		$ 16,917		$ 17,197

Interest Expense, Net (Detail)

Interest Expense, Net (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Interest Income (Expense), Net [Abstract]
Interest Income	$ (40)	$ (7)	$ (40)	$ (11)
Interest Expense	11,672	9,861	24,692	18,432
Other Expenses	924	283	1,945	562
Interest Expense, net	$ 12,556	$ 10,137	$ 26,597	$ 18,983

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Letters of credit outstanding, amount	$ 5,000,000	$ 5,000,000
Outstanding guarantees	0
Contingently liable for performance, current	$ 27,800,000

Fair Value of Senior Notes (Det

Fair Value of Senior Notes (Detail) $ in Thousands	Sep. 30, 2020USD ($)
4.500% Senior Unsecured Notes Due 2026 [Member]
Fair Value Of Financial Instruments [Line Items]
Fair Value of long term debt	$ 364,613

Fair Value of Senior Notes (Par

Fair Value of Senior Notes (Parenthetical) (Detail) - 4.500% Senior Unsecured Notes Due 2026 [Member]	6 Months Ended
	Sep. 30, 2020	Aug. 02, 2016
Fair Value Of Financial Instruments [Line Items]
Debt instrument, interest rate	4.50%	4.50%
Debt instrument, maturity year	2026