Note 9 - Income Taxes (Tables)

12 Months Ended

Mar. 31, 2023

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Fiscal Year:
	2023			2022		2021
Current:
Federal	$	11,903		$	4,780	$	13,121
State		3,500			3,383		4,145
Total		15,403			8,163		17,266
Deferred:
Federal	$	(3,725	)	$	7,017	$	13,486
State		554			44		3,164
Total		(3,171	)		7,061		16,650
Total income taxes	$	12,232		$	15,224	$	33,916

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

	Fiscal Year:
	2023			2022			2021
Computed (expected tax rate)		21.0	%		21.0	%		21.0	%
State income taxes (net of federal tax benefit)		3.8	%		3.7	%		3.1	%
Federal credits		-1.2	%		-0.8	%		-0.3	%
State rate changes		0.8	%		0.3	%		0.0	%
State credit expiration		0.6	%		0.9	%		0.0	%
Change in valuation allowance		2.3	%		-1.1	%		0.2	%
Federal return to accrual		-0.1	%		-0.9	%		0.0	%
State return to accrual		-0.2	%		0.1	%		0.0	%
Federal net operating loss (NOL) carryback rate difference		0.0	%		0.0	%		-2.8	%
Interest received on federal NOL carryback		0.0	%		-0.3	%		-0.2	%
Uncertain tax benefits return to accrual		-0.1	%		0.3	%		0.0	%
Other		0.1	%		-0.2	%		0.2	%
Effective income tax rate		27.0	%		23.0	%		21.2	%

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

	As of:
	March 31,			March 31,
	2023			2022
Deferred income tax assets:
Future tax credits	$	4,995		$	5,244
Inventory valuation		8,797			3,098
Employee benefits		2,335			2,191
Insurance		471			345
State depreciation basis differences		3,218			-
Operating leases		942			-
Intangibles		1,514			-
Other comprehensive loss		7,117			8,975
Interest		8			3
Prepaid revenue		296			374
Net operating loss and other tax attribute carryovers		630			610
Other		339			-
Total assets		30,662			20,840
Deferred income tax liabilities:
Property basis and depreciation difference		26,449			21,807
Inventory valuation		2,101			-
Intangibles		-			17
Right-of-use assets		7,045			5,764
Pension		21,528			21,253
Other		169			1,012
Total liabilities		57,292			49,853
Valuation allowance - noncurrent		4,995			3,931
Deferred income tax liability, net	$	(31,625	)	$	(32,944	)

Summary of Income Tax Contingencies [Table Text Block]

	As of:
	March 31,			March 31,
	2023			2022
Beginning balance	$	676		$	376
Tax positions related to current year:
Additions		174			160
Tax positions related to prior years:
Additions		-			215
Reductions		(38	)		-
Lapses in statues of limitations		(9	)		(75	)
Ending balance	$	803		$	676