SELECTED CONSOLIDATING FINANCIAL STATEMENTS OF PARENT, GUARANTORS AND NON-GUARANTORS (Tables)

9 Months Ended

Dec. 31, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Summary of consolidating balance sheets

	December 31, 2017
	Parent		Guarantor  Subsidiaries			Non-Guarantor  Subsidiaries		Eliminations			Consolidated  Total
Current assets:
Cash and cash equivalents	$	12,628	$	8,396		$	43,364	$	—		$	64,388
Trade and other receivables, net	—		69,305			251,694		—			320,999
Inventories	—		1,342,611			120,113		—			1,462,724
Prepaid expenses and other	20,027		10,469			13,004		—			43,500
Total current assets	32,655		1,430,781			428,175		—			1,891,611
Property and equipment, net	10,920		618,925			120,077		—			749,922
Goodwill and other intangible assets, net	—		1,321,175			134,145		—			1,455,320
Other, net	21,496		45,329			22,254		—			89,079
Intercompany investments and advances	2,354,461		81,541			72,512		(2,508,514		)	—
Total assets	$	2,419,532	$	3,497,751		$	777,163	$	(2,508,514	)	$	4,185,932
Current liabilities:
Current portion of long-term debt	$	574	$	14,561		$	—	$	—		$	15,135
Accounts payable	3,324		340,106			43,651		—			387,081
Accrued expenses	49,520		531,133			46,758		—			627,411
Total current liabilities	53,418		885,800			90,409		—			1,029,627
Long-term debt, less current portion	1,317,662		41,814			—		—			1,359,476
Intercompany advances	283,926		2,080,159			488,955		(2,853,040		)	—
Accrued pension and other postretirement benefits, noncurrent	6,608		503,033			—		—			509,641
Deferred income taxes and other	9,404		495,634			33,636		—			538,674
Total stockholders’ equity	748,514		(508,689		)	164,163		344,526			748,514
Total liabilities and stockholders’ equity	$	2,419,532	$	3,497,751		$	777,163	$	(2,508,514	)	$	4,185,932

SUMMARY CONDENSED CONSOLIDATING BALANCE SHEETS:

	March 31, 2017
	Parent		Guarantor  Subsidiaries			Non-Guarantor  Subsidiaries		Eliminations			Consolidated  Total
Current assets:
Cash and cash equivalents	$	19,942	$	24,137		$	25,554	$	—		$	69,633
Trade and other receivables, net	546		34,874			276,372		—			311,792
Inventories	—		1,243,461			96,714		—			1,340,175
Prepaid expenses and other	7,763		11,678			10,623		—			30,064
Assets held for sale	—		3,250			18,005		—			21,255
Total current assets	28,251		1,317,400			427,268		—			1,772,919
Property and equipment, net	8,315		673,153			123,562		—			805,030
Goodwill and other intangible assets, net	—		1,560,050			174,919		—			1,734,969
Other, net	17,902		67,955			15,825		—			101,682
Intercompany investments and advances	2,057,534		81,541			77,090		(2,216,165		)	—
Total assets	$	2,112,002	$	3,700,099		$	818,664	$	(2,216,165	)	$	4,414,600
Current liabilities:
Current portion of long-term debt	$	33,298	$	14,432		$	112,900	$	—		$	160,630
Accounts payable	17,291		426,646			37,306		—			481,243
Accrued expenses	53,829		578,457			42,093		—			674,379
Liabilities related to assets held for sale	—		—			18,008		—			18,008
Total current liabilities	104,418		1,019,535			210,307		—			1,334,260
Long-term debt, less current portion	974,693		60,977			—		—			1,035,670
Intercompany advances	178,381		1,754,529			370,907		(2,303,817		)	—
Accrued pension and other postretirement benefits, noncurrent	6,633		585,501			—		—			592,134
Deferred income taxes and other	1,403		564,358			40,302		—			606,063
Total stockholders’ equity	846,474		(284,801		)	197,148		87,652			846,473
Total liabilities and stockholders’ equity	$	2,112,002	$	3,700,099		$	818,664	$	(2,216,165	)	$	4,414,600

Condensed consolidating statements of income

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME:

	For the Three Months Ended December 31, 2017
	Parent			Guarantor  Subsidiaries			Non-Guarantor  Subsidiaries			Eliminations			Consolidated  Total
Net sales	$	—		$	705,792		$	88,443		$	(18,989	)	$	775,246
Operating costs and expenses:
Cost of sales	—			563,033			68,162			(18,989		)	612,206
Selling, general and administrative	27,914			27,331			6,902			—			62,147
Depreciation and amortization	441			34,606			4,273			—			39,320
Impairment of intangible assets	—			135,013			55,214			—			190,227
Restructuring	2,382			2,637			1,130			—			6,149
Curtailment and settlement gain, net	(15,099		)	—			—			—			(15,099		)
	15,638			762,620			135,681			(18,989		)	894,950
Operating (loss) income	(15,638		)	(56,828		)	(47,238		)	—			(119,704		)
Intercompany interest and charges	(39,386		)	38,877			509			—			—
Interest expense and other	23,686			2,796			(646		)	—			25,836
Income (loss) before income taxes	62			(98,501		)	(47,101		)	—			(145,540		)
Income (benefit) tax expense	(49,074		)	15,715			1,071			—			(32,288		)
Net income (loss)	49,136			(114,216		)	(48,172		)	—			(113,252		)
Other comprehensive (loss) income	(613		)	7,235			(1,824		)	—			4,798
Total comprehensive (loss) income	$	48,523		$	(106,981	)	$	(49,996	)	$	—		$	(108,454	)

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME:

	For the Three Months Ended December 31, 2016
	Parent			Guarantor  Subsidiaries			Non-Guarantor  Subsidiaries			Eliminations			Consolidated  Total
Net sales	$	—		$	772,916		$	90,526		$	(18,579	)	$	844,863
Operating costs and expenses:
Cost of sales	—			599,381			72,397			(18,579		)	653,199
Selling, general and administrative	16,955			41,991			7,804			—			66,750
Depreciation and amortization	331			39,850			4,150			—			44,331
Restructuring	6,231			4,449			387			—			11,067
Loss on divestiture and assets held for sale	14,350			—			—			—			14,350
	37,867			685,671			84,738			(18,579		)	789,697
Operating (loss) income	(37,867		)	87,245			5,788			—			55,166
Intercompany interest and charges	(45,597		)	43,466			2,131			—			—
Interest expense and other	18,542			3,963			(2,807		)	—			19,698
(Loss) income before income taxes	(10,812		)	39,816			6,464			—			35,468
Income (benefit) tax expense	(8,980		)	13,666			1,450			—			6,136
Net (loss) income	(1,832		)	26,150			5,014			—			29,332
Other comprehensive (loss) income	1,731			(1,573		)	(15,066		)	—			(14,908		)
Total comprehensive (loss) income	$	(101	)	$	24,577		$	(10,052	)	$	—		$	14,424

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME:

	For the Nine Months Ended December 31, 2017
	Parent			Guarantor  Subsidiaries			Non-Guarantor  Subsidiaries			Eliminations			Consolidated  Total
Net sales	$	—		$	2,096,894		$	266,101		$	(60,904	)	$	2,302,091
Operating costs and expenses:
Cost of sales	—			1,667,935			214,482			(60,904		)	1,821,513
Selling, general and administrative	69,820			118,006			26,108			—			213,934
Depreciation and amortization	1,050			105,781			12,487			—			119,318
Impairment of intangible assets	—			135,013			55,214			—			190,227
Restructuring	17,089			13,883			2,779			—			33,751
Loss on divestiture	20,371			—			—			—			20,371
Curtailment and settlement gain, net	(14,576		)	—			—			—			(14,576		)
	93,754			2,040,618			311,070			(60,904		)	2,384,538
Operating (loss) income	(93,754		)	56,276			(44,969		)	—			(82,447		)
Intercompany interest and charges	(122,339		)	116,076			6,263			—			—
Interest expense and other	63,092			8,181			956			—			72,229
(Loss) income before income taxes	(34,507		)	(67,981		)	(52,188		)	—			(154,676		)
Income tax (benefit) expense	(64,823		)	31,414			(706		)	—			(34,115		)
Net income (loss)	30,316			(99,395		)	(51,482		)	—			(120,561		)
Other comprehensive (loss) income	(3,012		)	5,064			19,502			—			21,554
Total comprehensive income (loss)	$	27,304		$	(94,331	)	$	(31,980	)	$	—		$	(99,007	)

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME:

	For the Nine Months Ended December, 2016
	Parent			Guarantor  Subsidiaries			Non-Guarantor  Subsidiaries			Eliminations			Consolidated  Total
Net sales	$	—		$	2,388,881		$	281,978		$	(57,974	)	$	2,612,885
Operating costs and expenses:
Cost of sales	—			1,883,122			227,752			(57,974		)	2,052,900
Selling, general and administrative	45,052			137,609			22,561			—			205,222
Depreciation and amortization	989			121,412			12,679			—			135,080
Restructuring	15,831			11,735			614			—			28,180
Loss on divestiture and assets held for sale	19,124			—			—			—			19,124
	80,996			2,153,878			263,606			(57,974		)	2,440,506
Operating (loss) income	(80,996		)	235,003			18,372			—			172,379
Intercompany interest and charges	(144,666		)	137,909			6,757			—			—
Interest expense and other	53,657			8,729			(6,665		)	—			55,721
Income before income taxes	10,013			88,365			18,280			—			116,658
Income tax (benefit) expense	(7,359		)	35,783			4,362			—			32,786
Net income	17,372			52,582			13,918			—			83,872
Other comprehensive income (loss)	2,094			(4,719		)	(36,684		)	—			(39,309		)
Total comprehensive income (loss)	$	19,466		$	47,863		$	(22,766	)	$	—		$	44,563

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME:

	For the Three Months Ended December 31, 2017
	Parent			Guarantor  Subsidiaries			Non-Guarantor  Subsidiaries			Eliminations			Consolidated  Total
Net sales	$	—		$	705,792		$	88,443		$	(18,989	)	$	775,246
Operating costs and expenses:
Cost of sales	—			563,033			68,162			(18,989		)	612,206
Selling, general and administrative	27,914			27,331			6,902			—			62,147
Depreciation and amortization	441			34,606			4,273			—			39,320
Impairment of intangible assets	—			135,013			55,214			—			190,227
Restructuring	2,382			2,637			1,130			—			6,149
Curtailment and settlement gain, net	(15,099		)	—			—			—			(15,099		)
	15,638			762,620			135,681			(18,989		)	894,950
Operating (loss) income	(15,638		)	(56,828		)	(47,238		)	—			(119,704		)
Intercompany interest and charges	(39,386		)	38,877			509			—			—
Interest expense and other	23,686			2,796			(646		)	—			25,836
Income (loss) before income taxes	62			(98,501		)	(47,101		)	—			(145,540		)
Income (benefit) tax expense	(49,074		)	15,715			1,071			—			(32,288		)
Net income (loss)	49,136			(114,216		)	(48,172		)	—			(113,252		)
Other comprehensive (loss) income	(613		)	7,235			(1,824		)	—			4,798
Total comprehensive (loss) income	$	48,523		$	(106,981	)	$	(49,996	)	$	—		$	(108,454	)

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME:

	For the Three Months Ended December 31, 2016
	Parent			Guarantor  Subsidiaries			Non-Guarantor  Subsidiaries			Eliminations			Consolidated  Total
Net sales	$	—		$	772,916		$	90,526		$	(18,579	)	$	844,863
Operating costs and expenses:
Cost of sales	—			599,381			72,397			(18,579		)	653,199
Selling, general and administrative	16,955			41,991			7,804			—			66,750
Depreciation and amortization	331			39,850			4,150			—			44,331
Restructuring	6,231			4,449			387			—			11,067
Loss on divestiture and assets held for sale	14,350			—			—			—			14,350
	37,867			685,671			84,738			(18,579		)	789,697
Operating (loss) income	(37,867		)	87,245			5,788			—			55,166
Intercompany interest and charges	(45,597		)	43,466			2,131			—			—
Interest expense and other	18,542			3,963			(2,807		)	—			19,698
(Loss) income before income taxes	(10,812		)	39,816			6,464			—			35,468
Income (benefit) tax expense	(8,980		)	13,666			1,450			—			6,136
Net (loss) income	(1,832		)	26,150			5,014			—			29,332
Other comprehensive (loss) income	1,731			(1,573		)	(15,066		)	—			(14,908		)
Total comprehensive (loss) income	$	(101	)	$	24,577		$	(10,052	)	$	—		$	14,424

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME:

	For the Nine Months Ended December 31, 2017
	Parent			Guarantor  Subsidiaries			Non-Guarantor  Subsidiaries			Eliminations			Consolidated  Total
Net sales	$	—		$	2,096,894		$	266,101		$	(60,904	)	$	2,302,091
Operating costs and expenses:
Cost of sales	—			1,667,935			214,482			(60,904		)	1,821,513
Selling, general and administrative	69,820			118,006			26,108			—			213,934
Depreciation and amortization	1,050			105,781			12,487			—			119,318
Impairment of intangible assets	—			135,013			55,214			—			190,227
Restructuring	17,089			13,883			2,779			—			33,751
Loss on divestiture	20,371			—			—			—			20,371
Curtailment and settlement gain, net	(14,576		)	—			—			—			(14,576		)
	93,754			2,040,618			311,070			(60,904		)	2,384,538
Operating (loss) income	(93,754		)	56,276			(44,969		)	—			(82,447		)
Intercompany interest and charges	(122,339		)	116,076			6,263			—			—
Interest expense and other	63,092			8,181			956			—			72,229
(Loss) income before income taxes	(34,507		)	(67,981		)	(52,188		)	—			(154,676		)
Income tax (benefit) expense	(64,823		)	31,414			(706		)	—			(34,115		)
Net income (loss)	30,316			(99,395		)	(51,482		)	—			(120,561		)
Other comprehensive (loss) income	(3,012		)	5,064			19,502			—			21,554
Total comprehensive income (loss)	$	27,304		$	(94,331	)	$	(31,980	)	$	—		$	(99,007	)

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME:

	For the Three Months Ended December 31, 2017
	Parent			Guarantor  Subsidiaries			Non-Guarantor  Subsidiaries			Eliminations			Consolidated  Total
Net sales	$	—		$	705,792		$	88,443		$	(18,989	)	$	775,246
Operating costs and expenses:
Cost of sales	—			563,033			68,162			(18,989		)	612,206
Selling, general and administrative	27,914			27,331			6,902			—			62,147
Depreciation and amortization	441			34,606			4,273			—			39,320
Impairment of intangible assets	—			135,013			55,214			—			190,227
Restructuring	2,382			2,637			1,130			—			6,149
Curtailment and settlement gain, net	(15,099		)	—			—			—			(15,099		)
	15,638			762,620			135,681			(18,989		)	894,950
Operating (loss) income	(15,638		)	(56,828		)	(47,238		)	—			(119,704		)
Intercompany interest and charges	(39,386		)	38,877			509			—			—
Interest expense and other	23,686			2,796			(646		)	—			25,836
Income (loss) before income taxes	62			(98,501		)	(47,101		)	—			(145,540		)
Income (benefit) tax expense	(49,074		)	15,715			1,071			—			(32,288		)
Net income (loss)	49,136			(114,216		)	(48,172		)	—			(113,252		)
Other comprehensive (loss) income	(613		)	7,235			(1,824		)	—			4,798
Total comprehensive (loss) income	$	48,523		$	(106,981	)	$	(49,996	)	$	—		$	(108,454	)

CONDENSED CONSOLIDATING STATEMENTS OF COMPREHENSIVE INCOME:

	For the Three Months Ended December 31, 2016
	Parent			Guarantor  Subsidiaries			Non-Guarantor  Subsidiaries			Eliminations			Consolidated  Total
Net sales	$	—		$	772,916		$	90,526		$	(18,579	)	$	844,863
Operating costs and expenses:
Cost of sales	—			599,381			72,397			(18,579		)	653,199
Selling, general and administrative	16,955			41,991			7,804			—			66,750
Depreciation and amortization	331			39,850			4,150			—			44,331
Restructuring	6,231			4,449			387			—			11,067
Loss on divestiture and assets held for sale	14,350			—			—			—			14,350
	37,867			685,671			84,738			(18,579		)	789,697
Operating (loss) income	(37,867		)	87,245			5,788			—			55,166
Intercompany interest and charges	(45,597		)	43,466			2,131			—			—
Interest expense and other	18,542			3,963			(2,807		)	—			19,698
(Loss) income before income taxes	(10,812		)	39,816			6,464			—			35,468
Income (benefit) tax expense	(8,980		)	13,666			1,450			—			6,136
Net (loss) income	(1,832		)	26,150			5,014			—			29,332
Other comprehensive (loss) income	1,731			(1,573		)	(15,066		)	—			(14,908		)
Total comprehensive (loss) income	$	(101	)	$	24,577		$	(10,052	)	$	—		$	14,424

Condensed consolidating statements of cash flows

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS:

	For the Nine Months Ended December 31, 2017
	Parent			Guarantor  Subsidiaries			Non-Guarantor  Subsidiaries			Eliminations			Consolidated  Total
Net income (loss)	$	30,316		$	(99,395	)	$	(51,482	)	$	—		$	(120,561	)
Adjustments to reconcile net income to net cash (used in) operating activities provided by	(54,460		)	(139,525		)	73,560			42,707			(77,718		)
Net cash (used in) provided by operating activities	(24,144		)	(238,920		)	22,078			42,707			(198,279		)
Capital expenditures	(2,314		)	(25,507		)	(4,111		)	—			(31,932		)
Proceeds from sale of assets	—			68,009			403			—			68,412
Net cash (used in) provided by investing activities	(2,314		)	42,502			(3,708		)	—			36,480
Net increase in revolving credit facility	20,000			—			—			—			20,000
Proceeds on issuance of debt	500,000			—			31,500			—			531,500
Retirements and repayments of debt	(314,628		)	(19,333		)	(35,300		)	—			(369,261		)
Payments of deferred financing costs	(17,729		)	—			—			—			(17,729		)
Dividends paid	(5,956		)	—			—			—			(5,956		)
Repurchase of restricted shares for minimum tax obligation	(369		)	—			—			—			(369		)
Intercompany financing and advances	(162,174		)	200,010			4,871			(42,707		)	—
Net cash provided by (used in)financing activities	19,144			180,677			1,071			(42,707		)	158,185
Effect of exchange rate changes on cash	—			—			(1,631		)	—			(1,631		)
Net change in cash and cash equivalents	(7,314		)	(15,741		)	17,810			—			(5,245		)
Cash and cash equivalents at beginning of period	19,942			24,137			25,554			—			69,633
Cash and cash equivalents at end of period	$	12,628		$	8,396		$	43,364		$	—		$	64,388

	For the Nine Months Ended December 31, 2017
	Parent			Guarantor  Subsidiaries			Non-Guarantor  Subsidiaries			Eliminations			Consolidated  Total
Net income (loss)	$	30,316		$	(99,395	)	$	(51,482	)	$	—		$	(120,561	)
Adjustments to reconcile net income to net cash (used in) operating activities provided by	(54,460		)	(139,525		)	73,560			42,707			(77,718		)
Net cash (used in) provided by operating activities	(24,144		)	(238,920		)	22,078			42,707			(198,279		)
Capital expenditures	(2,314		)	(25,507		)	(4,111		)	—			(31,932		)
Proceeds from sale of assets	—			68,009			403			—			68,412
Net cash (used in) provided by investing activities	(2,314		)	42,502			(3,708		)	—			36,480
Net increase in revolving credit facility	20,000			—			—			—			20,000
Proceeds on issuance of debt	500,000			—			31,500			—			531,500
Retirements and repayments of debt	(314,628		)	(19,333		)	(35,300		)	—			(369,261		)
Payments of deferred financing costs	(17,729		)	—			—			—			(17,729		)
Dividends paid	(5,956		)	—			—			—			(5,956		)
Repurchase of restricted shares for minimum tax obligation	(369		)	—			—			—			(369		)
Intercompany financing and advances	(162,174		)	200,010			4,871			(42,707		)	—
Net cash provided by (used in)financing activities	19,144			180,677			1,071			(42,707		)	158,185
Effect of exchange rate changes on cash	—			—			(1,631		)	—			(1,631		)
Net change in cash and cash equivalents	(7,314		)	(15,741		)	17,810			—			(5,245		)
Cash and cash equivalents at beginning of period	19,942			24,137			25,554			—			69,633
Cash and cash equivalents at end of period	$	12,628		$	8,396		$	43,364		$	—		$	64,388

CONDENSED CONSOLIDATING STATEMENTS OF CASH FLOWS:

	For the Nine Months Ended December, 2016
	Parent			Guarantor  Subsidiaries			Non-Guarantor  Subsidiaries			Eliminations			Consolidated  Total
Net income	$	17,372		$	52,582		$	13,918		$	—		$	83,872
Adjustments to reconcile net income to net cash provided by (used in) operating activities	(2,419		)	(294,036		)	27,922			12,010			(256,523		)
Net cash provided by (used in) operating activities	14,953			(241,454		)	41,840			12,010			(172,651		)
Capital expenditures	(1,657		)	(22,442		)	(9,024		)	—			(33,123		)
Proceeds from sale of assets	—			22,253			932			—			23,185
Acquisitions, net of cash acquired	—			9			—			—			9
Net cash used in investing activities	(1,657		)	(180		)	(8,092		)	—			(9,929		)
Net increase in revolving credit facility	316,121			—			—			—			316,121
Proceeds on issuance of debt	201			—			12,700			—			12,901
Retirements and repayments of debt	(21,368		)	(10,676		)	(63,700		)	—			(95,744		)
Payments of deferred financing costs	(14,012		)	—			—			—			(14,012		)
Dividends paid	(5,944		)	—			—			—			(5,944		)
Repayment of government grant	—			(14,570		)	—			—			(14,570		)
Repurchase of restricted shares for minimum tax obligations	(182		)	—			—			—			(182		)
Intercompany financing and advances	(288,995		)	275,159			25,846			(12,010		)	—
Net cash (used in) provided by financing activities	(14,179		)	249,913			(25,154		)	(12,010		)	198,570
Effect of exchange rate changes on cash	—			—			(1,513		)	—			(1,513		)
Net change in cash and cash equivalents	(883		)	8,279			7,081			—			14,477
Cash and cash equivalents at beginning of period	1,544			201			19,239			—			20,984
Cash and cash equivalents at end of period	$	661		$	8,480		$	26,320		$	—		$	35,461