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SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]  
Schedule of Inventories Inventories consist of the following:

 

 

March 31,

 

 

 

2021

 

 

2020

 

 

 

(dollars in thousands)

 

Raw Materials and Materials-in-Progress

 

$

92,696

 

 

$

110,558

 

Finished Cement

 

 

34,362

 

 

 

43,538

 

Aggregates

 

 

2,933

 

 

 

8,416

 

Gypsum Wallboard

 

 

4,177

 

 

 

4,211

 

Paperboard

 

 

5,031

 

 

 

5,715

 

Repair Parts and Supplies

 

 

86,750

 

 

 

88,094

 

Fuel and Coal

 

 

9,800

 

 

 

11,589

 

 

 

$

235,749

 

 

$

272,121

 

 

Schedule of Property, Plant and Equipment Estimated Useful Lives The estimated useful 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 at March 31, 2021 and 2020, consist of the following:

 

 

 

March 31, 2021

 

 

 

Amortization

Period

 

Cost

 

 

Purchase Price Adjustments

 

 

Accumulated

Amortization

 

 

Net

 

 

 

(dollars in thousands)

 

Goodwill and Intangible Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer Contracts and Relationships

 

15 years

 

$

105,810

 

 

$

2,800

 

 

$

(66,445

)

 

$

42,165

 

Permits

 

25-40 years

 

 

30,410

 

 

 

—

 

 

 

(10,759

)

 

 

19,651

 

Trade Name

 

15 years

 

 

1,500

 

 

 

—

 

 

 

(138

)

 

 

1,362

 

Goodwill

 

 

 

 

331,592

 

 

 

(2,455

)

 

 

—

 

 

 

329,137

 

Total Goodwill and Intangible Assets

 

 

 

$

469,312

 

 

$

345

 

 

$

(77,342

)

 

$

392,315

 

 

 

 

March 31, 2020

 

 

 

Amortization

Period

 

Cost

 

 

Additions

 

 

Accumulated

Amortization

 

 

Net

 

 

 

(dollars in thousands)

 

Goodwill and Intangible Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer Contracts and Relationships

 

15 years

 

$

72,260

 

 

$

33,550

 

 

$

(62,950

)

 

$

42,860

 

Permits

 

25-40 years

 

 

28,640

 

 

 

1,770

 

 

 

(9,889

)

 

 

20,521

 

Trade Name

 

15 years

 

 

—

 

 

 

1,500

 

 

 

(10

)

 

 

1,490

 

Goodwill

 

 

 

 

198,371

 

 

 

133,221

 

 

 

—

 

 

 

331,592

 

Total Goodwill and Intangible Assets

 

 

 

$

299,271

 

 

$

170,041

 

 

$

(72,849

)

 

$

396,463

 

Summary of Impairment Charges Related to Assets Impairment charges related to these assets in fiscal 2020 and 2019 are included in continuing operations on the Consolidated Statement of Earnings and are summarized below:

 

 

For the Years Ended March 31,

 

 

 

2020

 

 

2019

 

 

 

(dollars in thousands)

 

Property, Equipment, and Real Estate

 

$

11,213

 

 

$

37,179

 

Lease Right-of-Use Assets

 

 

13,918

 

 

 

—

 

 

 

$

25,131

 

 

$

37,179

 

Schedule of Supplemental Cash Flow Information

Supplemental cash flow information is as follows:

 

 

For the Years Ended March 31,

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

(dollars in thousands)

 

 

 

 

 

Cash Payments:

 

 

 

 

 

 

 

 

 

 

 

 

Interest

 

$

42,343

 

 

$

37,610

 

 

$

28,191

 

Income Taxes

 

 

32,870

 

 

 

20,046

 

 

 

39,974

 

Operating Cash Flows Used for Operating Leases

 

 

10,741

 

 

 

14,926

 

 

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-Cash Financing Activities:

 

 

 

 

 

 

 

 

 

 

 

 

Right-of-use Assets Obtained for Capitalized Operating Lease Liabilities

 

$

272

 

 

$

621

 

 

$

—

 

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,

 

 

 

2021

 

 

2020

 

 

2019

 

 

 

(dollars in thousands)

 

Operating Units Selling, G&A

 

$

56,309

 

 

$

57,077

 

 

$

53,787

 

Corporate G&A

 

 

49,511

 

 

 

65,410

 

 

 

37,371

 

 

 

$

105,820

 

 

$

122,487

 

 

$

91,158

 

Schedule of Earnings Per Share

 

 

For the Years Ended March 31,

 

 

 

2021

 

 

2020

 

 

2019

 

Weighted-Average Shares of Common Stock Outstanding

 

 

41,543,067

 

 

 

42,021,892

 

 

 

46,620,894

 

Effect of Dilutive Shares:

 

 

 

 

 

 

 

 

 

 

 

 

Assumed Exercise of Outstanding Dilutive Options

 

 

570,325

 

 

 

623,779

 

 

 

539,135

 

Less Shares Repurchased from Proceeds of Assumed Exercised Options

 

 

(429,815

)

 

 

(481,853

)

 

 

(374,380

)

Restricted Stock Units

 

 

143,132

 

 

 

121,525

 

 

 

146,731

 

Weighted-Average Common Stock and Dilutive Securities Outstanding

 

 

41,826,709

 

 

 

42,285,343

 

 

 

46,932,380