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Leases
 12 Months Ended
Mar. 31, 2023
Leases [Abstract]  
Leases LEASES
Nature of the Company’s Leases - The Company has operating and finance leases for plants, yards, corporate offices, tractors, trailers and other equipment. The Company’s leases have remaining terms of less than one year to 14 years. A portion of the Company’s real estate leases include an option to extend the leases for up to 5 years. The Company has included renewal options which are reasonably certain to be exercised in its right-of-use assets and lease liabilities. The Company’s lease payments are generally fixed.
Supplemental balance sheet information related to leases as of the periods presented were as follows:
(Amounts in thousands) Balance Sheet Classification 20232022
Operating leases      
Right-of-use assets Other assets $50,753 $54,583 
Current lease liabilities Other accrued liabilities 14,370 14,203 
Non-current lease liabilities Other liabilities 37,065 41,032 
Total operating lease liabilities   $51,435 $55,235 
Finance leases   
Right-of-use assets Property, plant and equipment 40,198 15,420 
Current lease liabilities Current maturities of finance lease obligations 8,541 5,089 
Non-current lease liabilities Long-term finance lease obligations 32,272 11,393 
Total finance lease liabilities   $40,813 $16,482 
    
Weighted average lease term (in years):   
Operating leases   4.466.00
Finance leases   4.484.23
Weighted average discount rate:   
Operating leases   4.37 %3.54 %
Finance leases   5.53 %3.52 %
Lease Cost - The components of lease cost for the years ended March 31, 2023, 2022, and 2021 were:
(Amounts in thousands) Income Statement Classification 20232022 2021
Operating lease cost       
Operating lease cost Cost of goods sold $15,163 $12,663  $8,391 
Operating lease cost Selling, general and administrative 1,322 1,335  1,593 
Short-term lease cost Cost of goods sold 9,467 4,813  3,963 
Total operating lease cost   $25,952 $18,811  $13,947 
Finance lease cost    
Amortization of right-of-use assets Cost of goods sold 7,252 12,986  16,442 
Amortization of right-of-use assets Selling, general and administrative 880 1,413  1,433 
Interest on lease liabilities Interest expense 586 1,679  2,436 
Total finance lease cost   $8,718 $16,078  $20,311 
Supplemental cash flow information related to leases for the periods presented were as follows:
(Amounts in thousands)20232022 2021
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows used for operating leases$16,485 $13,998  $9,984 
Operating cash flows used for finance leases729 1,932  3,205 
Financing cash flows used for finance leases7,686 50,447  21,491 
Right-of-use assets obtained in exchange for lease obligations: 
Operating leases13,735 38,093  15,173 
Finance leases
32,463 17,695  9,907 
The following is a schedule by year of future minimum lease payments on a rolling twelve-month basis under operating and finance leases and the present value of the net minimum lease payments as of March 31, 2023:
(Amounts in thousands)Operating Leases Finance Leases
Year 1$16,023 $11,898 
Year 214,429 10,444 
Year 310,302 8,647 
Year 46,137 7,257 
Year 53,631 3,677 
Thereafter6,677 2,419 
Total minimum lease payments$57,199 $44,342 
Less: amount representing interest5,764 3,529 
Present value of net minimum lease payments$51,435 $40,813 
Leases LEASES
Nature of the Company’s Leases - The Company has operating and finance leases for plants, yards, corporate offices, tractors, trailers and other equipment. The Company’s leases have remaining terms of less than one year to 14 years. A portion of the Company’s real estate leases include an option to extend the leases for up to 5 years. The Company has included renewal options which are reasonably certain to be exercised in its right-of-use assets and lease liabilities. The Company’s lease payments are generally fixed.
Supplemental balance sheet information related to leases as of the periods presented were as follows:
(Amounts in thousands) Balance Sheet Classification 20232022
Operating leases      
Right-of-use assets Other assets $50,753 $54,583 
Current lease liabilities Other accrued liabilities 14,370 14,203 
Non-current lease liabilities Other liabilities 37,065 41,032 
Total operating lease liabilities   $51,435 $55,235 
Finance leases   
Right-of-use assets Property, plant and equipment 40,198 15,420 
Current lease liabilities Current maturities of finance lease obligations 8,541 5,089 
Non-current lease liabilities Long-term finance lease obligations 32,272 11,393 
Total finance lease liabilities   $40,813 $16,482 
    
Weighted average lease term (in years):   
Operating leases   4.466.00
Finance leases   4.484.23
Weighted average discount rate:   
Operating leases   4.37 %3.54 %
Finance leases   5.53 %3.52 %
Lease Cost - The components of lease cost for the years ended March 31, 2023, 2022, and 2021 were:
(Amounts in thousands) Income Statement Classification 20232022 2021
Operating lease cost       
Operating lease cost Cost of goods sold $15,163 $12,663  $8,391 
Operating lease cost Selling, general and administrative 1,322 1,335  1,593 
Short-term lease cost Cost of goods sold 9,467 4,813  3,963 
Total operating lease cost   $25,952 $18,811  $13,947 
Finance lease cost    
Amortization of right-of-use assets Cost of goods sold 7,252 12,986  16,442 
Amortization of right-of-use assets Selling, general and administrative 880 1,413  1,433 
Interest on lease liabilities Interest expense 586 1,679  2,436 
Total finance lease cost   $8,718 $16,078  $20,311 
Supplemental cash flow information related to leases for the periods presented were as follows:
(Amounts in thousands)20232022 2021
Cash paid for amounts included in the measurement of lease liabilities:    
Operating cash flows used for operating leases$16,485 $13,998  $9,984 
Operating cash flows used for finance leases729 1,932  3,205 
Financing cash flows used for finance leases7,686 50,447  21,491 
Right-of-use assets obtained in exchange for lease obligations: 
Operating leases13,735 38,093  15,173 
Finance leases
32,463 17,695  9,907 
The following is a schedule by year of future minimum lease payments on a rolling twelve-month basis under operating and finance leases and the present value of the net minimum lease payments as of March 31, 2023:
(Amounts in thousands)Operating Leases Finance Leases
Year 1$16,023 $11,898 
Year 214,429 10,444 
Year 310,302 8,647 
Year 46,137 7,257 
Year 53,631 3,677 
Thereafter6,677 2,419 
Total minimum lease payments$57,199 $44,342 
Less: amount representing interest5,764 3,529 
Present value of net minimum lease payments$51,435 $40,813