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Significant Accounting Policies (Tables)
12 Months Ended
Mar. 31, 2016
Accounting Policies [Abstract]  
Schedule Of Inventories

Inventories consist of the following:

 

 

 

March 31,

 

 

 

2016

 

 

2015

 

 

 

(dollars in thousands)

 

Raw Materials and Materials-in-Progress

 

$

119,060

 

 

$

115,345

 

Finished Cement

 

 

21,834

 

 

 

20,508

 

Gypsum Wallboard

 

 

5,839

 

 

 

7,741

 

Paperboard

 

 

7,575

 

 

 

8,493

 

Frac Sand

 

 

5,501

 

 

 

4,928

 

Aggregates

 

 

10,660

 

 

 

11,131

 

Repair Parts and Supplies

 

 

68,155

 

 

 

62,121

 

Fuel and Coal

 

 

4,971

 

 

 

5,197

 

 

 

$

243,595

 

 

$

235,464

 

 

Schedule of Property, Plant and Equipment Estimated Lives

The estimated lives of the related assets are as follows:

 

Plants

 

 

20 to 30 years

 

Buildings

 

 

20 to 40 years

 

Machinery and Equipment

 

 

3 to 25 years

 

 

Schedule of Intangible Assets, Including Impact of Impairment Charge

Intangible assets, including the impact of the impairment charges discussed above, at March 31, 2016 and 2015 consist of the following:

 

 

 

March 31, 2016

 

 

 

Amortization

Period

 

 

Cost

 

 

 

Amortization Expense

 

 

Impairment

 

 

Accumulated Amortization

 

 

Net

 

 

 

 

 

 

 

(dollars in thousands)

 

Goodwill and Intangible Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer Contracts and Relationships

 

15 years

 

 

$

63,260

 

 

$

11,634

 

 

$

34,999

 

 

$

(52,627

)

 

$

10,633

 

Sales Contracts

 

4 years

 

 

 

2,500

 

 

 

625

 

 

 

 

 

 

(2,083

)

 

$

417

 

Permits

 

40 years

 

 

 

27,440

 

 

 

652

 

 

 

 

 

 

(6,548

)

 

$

20,892

 

Goodwill

 

 

 

 

 

133,885

 

 

 

 

 

 

 

 

 

 

 

$

133,885

 

Total Goodwill and Intangible Assets

 

 

 

 

$

227,085

 

 

$

12,911

 

 

$

34,999

 

 

$

(61,258

)

 

$

165,827

 

At March 31, 2016, approximately $5.6 million of customer contracts and relationships is related to our oil and gas proppants segment.  Under the terms of one of the contracts, the customer prepaid $15.0 million for sand, of which $12.7 million was available at March 31, 2015. This prepayment would be credited to the customer based on future sand purchases required by the contract.  This customer has not made the required purchases in accordance with the terms of the contract, and therefore has forfeited approximately $10.7 million of the prepaid balance.  The reversal of the $10.7 million was recorded as a reduction to cost of goods sold in our oil and gas proppants segment during fiscal 2016.  We have a $2.0 million liability related to the remaining customer prepayment of sand, which is included in Other Long-Term Liabilities on the consolidated Balance Sheet.  The contract terminates June 30, 2016, at which time the remaining $2.0 million will be forfeited if the customer has not placed orders for the contracted amount of sand.  

 

 

 

March 31, 2015

 

 

 

Amortization

Period

 

 

Cost

 

 

Accumulated

Amortization

 

 

Net

 

 

 

(dollars in thousands)

 

Intangible Assets and Goodwill:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer contracts and relationships

 

 

15 years

 

 

$

62,060

 

 

$

(5,994

)

 

$

56,066

 

Sales contracts

 

 

4 years

 

 

 

2,500

 

 

 

(1,458

)

 

 

1,042

 

Permits

 

 

40 years

 

 

 

27,440

 

 

 

(5,896

)

 

 

21,544

 

Goodwill

 

 

 

 

 

 

132,515

 

 

 

 

 

 

132,515

 

Total intangible assets and goodwill

 

 

 

 

 

$

224,515

 

 

$

(13,348

)

 

$

211,167

 

 

Schedule of Total Selling, General and Administrative Expenses

Total selling, general and administrative expenses for each of the periods are summarized as follows:

 

 

 

For the Years Ended March 31,

 

 

 

2016

 

 

2015

 

 

2014

 

 

 

(dollars in thousands)

 

Operating Units Selling, G&A

 

$

56,110

 

 

$

49,326

 

 

$

50,175

 

Corporate G&A

 

 

37,193

 

 

 

30,751

 

 

 

24,552

 

 

 

$

93,303

 

 

$

80,077

 

 

$

74,727

 

 

Schedule Of Earnings Per Share

 

 

 

For the Years Ended March 31,

 

 

 

2016

 

 

2015

 

 

2014

 

Weighted-Average Shares of Common Stock Outstanding

 

 

49,471,157

 

 

 

49,604,249

 

 

 

49,090,750

 

Effect of Dilutive Shares:

 

 

 

 

 

 

 

 

 

 

 

 

Assumed Exercise of Outstanding Dilutive Options

 

 

1,146,807

 

 

 

1,350,556

 

 

 

1,574,491

 

Less Shares Repurchased from Proceeds of Assumed Exercised Options

 

 

(768,886

)

 

 

(868,636

)

 

 

(1,032,359

)

Restricted Stock Units

 

 

221,751

 

 

 

286,074

 

 

 

306,283

 

Weighted-Average Common Stock and Dilutive Securities Outstanding

 

 

50,070,829

 

 

 

50,372,243

 

 

 

49,939,165