Income Tax (tables)

12 Months Ended

Mar. 31, 2017

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

6. Income Taxes
The Company files a consolidated federal and various state income tax returns. The provision for income taxes is as follows:
		2017		2016		2015
		(In thousands)
Current:
Federal	$	395	$	24,579	$	4,380
State		495		1,953		453
		890		26,532		4,833
Deferred:
Federal		6,259		(689)		(925)
State		265		156		313
		6,524		(533)		(612)
Total income taxes	$	7,414	$	25,999	$	4,221

A reconciliation of the expected U.S. statutory rate to the effective rate follows:
	2017		2016		2015
Computed (expected tax rate)	35.0	%	35.0	%	35.0	%
State income taxes (net of federal tax benefit)	4.1		2.7		2.9
State tax credits	(2.5)		(0.9)		(8.7)
Federal credits	(1.8)		(0.4)		(2.4)
Manufacturer’s deduction	(1.7)		(3.9)		(5.0)
(Reversal of) addition to uncertain tax positions	0.2		0.2		(1.0)
Other permanent differences not deductible	2.4		(0.2)		0.7
Change in valuation allowance	0.2		0.1		9.9
Other	1.1		(0.3)		(1.5)
Effective income tax rate	37.0	%	32.3	%	29.9	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		2017		2016
		(In thousands)
Deferred income tax assets:
Future tax credits	$	3,827	$	3,807
Employee benefits		3,119		3,174
Insurance		924		881
Other comprehensive loss		7,135		18,154
Interest		32		21
Prepaid revenue		444		571
Other		472		2,804
Severance		-		3
		15,953		29,415
Deferred income tax liabilities:
Property basis and depreciation difference		12,786		9,330
481(a) adjustment		429		880
Inventory valuation		1,032		1,247
Intangibles		213		235
Earnings from equity investment		193		69
Pension		3,590		2,896
		18,243		14,657
Valuation allowance - non-current		1,891		1,861
Net deferred income tax (liability) asset	$	(4,181)	$	12,897

Summary of Income Tax Contingencies [Table Text Block]

		2017		2016
		(In thousands)
Beginning balance	$	694	$	464
Tax positions related to current year:
Additions		67		291
Tax positions related to prior years:
Additions		-		241
Reductions		(46)		(7)
Settlements		-		(166)
Lapses in statues of limitations		-		(129)
Balance as of March 31,	$	715	$	694