Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Dec. 31, 2019	Jan. 26, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2019
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Entity Registrant Name	EAGLE MATERIALS INC.
Entity Central Index Key	0000918646
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Current Fiscal Year End Date	--03-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		41,643,970
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock (par value $.01 per share)
Trading Symbol	EXP
Security Exchange Name	NYSE
Entity File Number	1-12984
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	75-2520779
Entity Address, Address Line One	5960 Berkshire Lane
Entity Address, Address Line Two	Suite 900
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75225
City Area Code	214
Local Phone Number	432-2000
Document Quarterly Report	true
Document Transition Report	false

Consolidated Statements of Earnings (Loss) (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Revenue	$ 350,249	$ 333,285	$ 1,135,372	$ 1,108,540
Cost of Goods Sold	262,735	252,864	868,023	838,554
Gross Profit	87,514	80,421	267,349	269,986
Equity in Earnings of Unconsolidated Joint Venture	10,700	9,507	32,489	28,931
Corporate General and Administrative Expense	(13,794)	(9,408)	(48,506)	(27,333)
Impairment Losses	(224,267)		(224,267)
Litigation Settlements and Losses				(1,800)
Other Non-Operating Income	825	1,292	1,967	2,291
Interest Expense, Net	(9,543)	(7,294)	(28,526)	(20,743)
Earnings (Loss) before Income Taxes	(148,565)	74,518	506	251,332
Income Tax Benefit (Expense)	33,933	(16,803)	(2,041)	(54,675)
Net Earnings (Loss)	$ (114,632)	$ 57,715	$ (1,535)	$ 196,657
EARNINGS (LOSS) PER SHARE
Basic	$ (2.77)	$ 1.25	$ (0.04)	$ 4.18
Diluted	$ (2.77)	$ 1.24	$ (0.04)	$ 4.15
AVERAGE SHARES OUTSTANDING
Basic	41,314,289	46,275,198	42,246,329	47,059,408
Diluted	41,314,289	46,495,994	42,246,329	47,403,271
CASH DIVIDENDS PER SHARE	$ 0.10	$ 0.10	$ 0.30	$ 0.30

Consolidated Statements of Comprehensive Earnings (Loss) (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net Earnings (Loss)	$ (114,632)	$ 57,715	$ (1,535)	$ 196,657
Net Actuarial Change in Defined Benefit Plans:
Amortization of net actuarial loss	43	73	131	219
Tax expense	(10)	(17)	(30)	(51)
Comprehensive Earnings (Loss)	$ (114,599)	$ 57,771	$ (1,434)	$ 196,825

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Current Assets -
Cash and Cash Equivalents	$ 126,255	$ 8,601
Accounts and Notes Receivable, net	140,283	128,722
Inventories	234,264	275,194
Income Tax Receivable		5,480
Prepaid and Other Assets	6,997	9,624
Total Current Assets	507,799	427,621
Property, Plant, and Equipment, net	1,269,733	1,426,939
Notes Receivable	9,192	2,898
Investment in Joint Venture	71,862	64,873
Operating Lease Right-of-Use Assets	29,346
Goodwill and Intangible Assets, net	230,099	229,115
Other Assets	12,194	17,717
Total Assets	2,130,225	2,169,163
Current Liabilities -
Accounts Payable	65,035	80,884
Accrued Liabilities	67,670	61,949
Income Taxes Payable	20,020
Operating Lease Liabilities	10,601
Current Portion of Long-term Debt		36,500
Total Current Liabilities	163,326	179,333
Long-term Debt	930,594	655,092
Noncurrent Operating Lease Liabilities	51,939
Other Long-term Liabilities	36,648	34,492
Deferred Income Taxes	50,391	90,759
Total Liabilities	1,232,898	959,676
Stockholders’ Equity –
Preferred Stock, Par Value $0.01; Authorized 5,000,000 Shares; None Issued
Common Stock, Par Value $0.01; Authorized 100,000,000 Shares; Issued and Outstanding 41,643,970 and 45,117,393 Shares, respectively	416	451
Capital in Excess of Par Value	8,325
Accumulated Other Comprehensive Losses	(3,215)	(3,316)
Retained Earnings	891,801	1,212,352
Total Stockholders’ Equity	897,327	1,209,487
Liabilities and Stockholders' Equity, Total	$ 2,130,225	$ 2,169,163

Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares	Dec. 31, 2019	Mar. 31, 2019
Statement Of Financial Position [Abstract]
Preferred Stock, Par Value	$ 0.01	$ 0.01
Preferred Stock, Authorized	5,000,000	5,000,000
Preferred Stock, Issued	0	0
Common Stock, Par Value	$ 0.01	$ 0.01
Common Stock, Authorized	100,000,000	100,000,000
Common Stock, Issued	41,643,970	45,117,393
Common Stock, Outstanding	41,643,970	45,117,393

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net Earnings (Loss)	$ (1,535)	$ 196,657
Adjustments to Reconcile Net Earnings (Loss) to Net Cash Provided by Operating Activities, Net of Effect of Non-Cash Activity -
Depreciation, Depletion, and Amortization	84,944	91,961
Impairment Losses	224,267
Deferred Income Tax Provision	(40,396)	14,552
Stock Compensation Expense	16,407	11,609
Equity in Earnings of Unconsolidated Joint Venture	(32,489)	(28,931)
Distributions from Joint Venture	25,500	27,500
Changes in Operating Assets and Liabilities:
Accounts and Notes Receivable	(12,171)	4,905
Inventories	36,595	6,899
Accounts Payable and Accrued Liabilities	(10,006)	(34,964)
Other Assets	4,003	(1,524)
Income Taxes Payable (Receivable)	25,500	5,436
Net Cash Provided by Operating Activities	320,619	294,100
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment	(84,056)	(126,446)
Acquisition Spending	(30,424)
Proceeds from Sale of Property, Plant, and Equipment		2,281
Net Cash Used in Investing Activities	(114,480)	(124,165)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase in Credit Facility	275,000	5,000
Repayment of Private Placement Senior Unsecured Notes	(36,500)
Dividends Paid to Stockholders	(13,131)	(14,293)
Purchase and Retirement of Common Stock	(313,887)	(191,800)
Proceeds from Stock Option Exercises	2,996	1,992
Shares Redeemed to Settle Employee Taxes on Stock Compensation	(2,963)	(1,842)
Net Cash Used in Financing Activities	(88,485)	(200,943)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	117,654	(31,008)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	8,601	48,068
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 126,255	$ 17,060

Consolidated Statements of Stockholders' Equity (unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Capital in Excess of Par Value [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Losses [Member]
Beginning balance at Mar. 31, 2018	$ 1,417,690	$ 483	$ 122,379	$ 1,298,840	$ (4,012)
Net Earnings (Loss)	66,339			66,339
Stock Option Exercises and Restricted Share Vesting	1,992		1,992
Purchase and Retirement of Common Stock	(52,344)	(5)	(52,339)
Dividends to Stockholders	(4,791)			(4,791)
Stock Compensation Expense	3,493	1	3,492
Shares Redeemed to Settle Employee Taxes	(956)		(956)
Unfunded Pension Liability, net of tax	56				56
Ending Balance at Jun. 30, 2018	1,431,479	479	74,568	1,360,388	(3,956)
Beginning balance at Mar. 31, 2018	1,417,690	483	122,379	1,298,840	(4,012)
Net Earnings (Loss)	196,657
Ending Balance at Dec. 31, 2018	1,420,337	462		1,423,719	(3,844)
Beginning balance at Jun. 30, 2018	1,431,479	479	74,568	1,360,388	(3,956)
Net Earnings (Loss)	72,603			72,603
Purchase and Retirement of Common Stock	(70,060)	(7)	(70,053)
Dividends to Stockholders	(4,712)			(4,712)
Stock Compensation Expense	4,066		4,066
Shares Redeemed to Settle Employee Taxes	(829)		(829)
Unfunded Pension Liability, net of tax	56				56
Ending Balance at Sep. 30, 2018	1,432,603	472	7,752	1,428,279	(3,900)
Net Earnings (Loss)	57,715			57,715
Purchase and Retirement of Common Stock	(69,396)	(10)	(11,745)	(57,641)
Dividends to Stockholders	(4,634)			(4,634)
Stock Compensation Expense	4,050		4,050
Shares Redeemed to Settle Employee Taxes	(57)		(57)
Unfunded Pension Liability, net of tax	56				56
Ending Balance at Dec. 31, 2018	1,420,337	462		1,423,719	(3,844)
Beginning balance at Mar. 31, 2019	1,209,487	451		1,212,352	(3,316)
Net Earnings (Loss)	41,304			41,304
Stock Option Exercises and Restricted Share Vesting	396		396
Purchase and Retirement of Common Stock	(198,355)	(23)	(7,748)	(190,584)
Dividends to Stockholders	(4,316)			(4,316)
Stock Compensation Expense	8,219	1	8,218
Shares Redeemed to Settle Employee Taxes	(866)		(866)
Cumulative Effect of Change in Accounting for Leases	(636)			(636)
Unfunded Pension Liability, net of tax	33				33
Ending Balance at Jun. 30, 2019	1,055,266	429		1,058,120	(3,283)
Beginning balance at Mar. 31, 2019	1,209,487	451		1,212,352	(3,316)
Net Earnings (Loss)	(1,535)
Ending Balance at Dec. 31, 2019	897,327	416	8,325	891,801	(3,215)
Beginning balance at Jun. 30, 2019	1,055,266	429		1,058,120	(3,283)
Net Earnings (Loss)	71,793			71,793
Stock Option Exercises and Restricted Share Vesting	1,371		1,371
Purchase and Retirement of Common Stock	(115,532)	(13)	(366)	(115,153)
Dividends to Stockholders	(4,163)			(4,163)
Stock Compensation Expense	3,918		3,918
Shares Redeemed to Settle Employee Taxes	(1,933)		(1,933)
Unfunded Pension Liability, net of tax	35				35
Ending Balance at Sep. 30, 2019	1,010,755	416	2,990	1,010,597	(3,248)
Net Earnings (Loss)	(114,632)			(114,632)
Stock Option Exercises and Restricted Share Vesting	1,229		1,229
Dividends to Stockholders	(4,164)			(4,164)
Stock Compensation Expense	4,270		4,270
Shares Redeemed to Settle Employee Taxes	(164)		(164)
Unfunded Pension Liability, net of tax	33				33
Ending Balance at Dec. 31, 2019	$ 897,327	$ 416	$ 8,325	$ 891,801	$ (3,215)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

BASIS OF PRESENTATION

9 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

BASIS OF PRESENTATION

(A) BASIS OF PRESENTATION

The accompanying unaudited consolidated financial statements as of and for the three- and nine-month periods ended December 31, 2019 include the accounts of Eagle Materials Inc. and its majority-owned subsidiaries (collectively, the Company, us, or we) and have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on May 23, 2019.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although we believe that the disclosures are adequate to make the information presented not misleading. In our opinion, all adjustments (consisting solely of normal recurring adjustments) necessary to present fairly the information in the following unaudited consolidated financial statements of the Company have been included. The results of operations for interim periods are not necessarily indicative of the results for the full year.

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Recent Accounting Pronouncements

RECENTLY ADOPTED

In February 2016, the Financial Accounting Standards Board (FASB) issued ASU 2016-02, “Leases,” which supersedes existing lease guidance to require lessees to recognize assets and liabilities on the balance sheet for the rights and obligations created by long-term leases and to disclose additional quantitative and qualitative information about leasing arrangements. We adopted the standard on April 1, 2019 using the modified retrospective approach. We also elected the package of practical expedients permitted under the transition guidance which, among other things, allowed us to maintain the historic lease classification for leases in effect at the date of adoption, and to not separate lease components from nonlease components for all leases in effect at the date of adoption. Upon adoption, we recorded a right-of-use asset of approximately $66.7 million, and operating lease liabilities of approximately $71.1 million. See Footnote (J) for more information.

PENDING ADOPTION

In June 2016, the FASB issued an update on the measurement of credit losses on financial instruments, which requires entities to use a forward-looking approach based on expected losses rather than the current model of incurred losses to estimate credit losses on certain types of financial instruments, including Accounts and Notes Receivable. The application of the forward-looking model may result in earlier recognition of allowances for losses than the current method. This guidance becomes effective for us on April 1, 2020, with early adoption permitted. We are currently assessing the impact of the new standard, but we do not expect the adoption will have a material effect on our consolidated financial statements and disclosures.

ACQUISITION

9 Months Ended

Dec. 31, 2019

Business Combinations [Abstract]

ACQUISITION

(B) ACQUISITIONS

On August 2, 2019, we acquired the assets of a readymix concrete and aggregates business (the ConAgg Acquisition). The purchase price (Purchase Price) of the ConAgg Acquisition was approximately $30.4 million. The purchase price allocation has not yet been finalized. The Purchase Price and expenses incurred in connection with the ConAgg Acquisition were funded through operating cash flows and borrowings under our bank credit facility. Operations related to the ConAgg Acquisition are included in the Concrete and Aggregates business in our segment reporting from August 2, 2019 through December 31, 2019.

Pending Acquisition

On November 25, 2019, we entered into an agreement (the Kosmos Acquisition) with Kosmos Cement Company (a joint venture between CEMEX S.A.B. de C.V. and Buzzi Unicem S.p.A.) (Kosmos) to purchase (i) a cement plant located in Louisville, Kentucky, (ii) a limestone quarry located in Battletown, Kentucky, (iii) cement distribution terminals located in Indianapolis, Indiana; Cincinnati, Ohio; Pittsburgh, Pennsylvania; Charleston, West Virginia; Ceredo, West Virginia; Mt. Vernon, Indiana; and Lexington, Kentucky, and (iv) certain other properties and assets used by Kosmos in connection with the foregoing (collectively, the Kosmos Business). We will assume certain liabilities and obligations of Kosmos relating to the Kosmos Business, including contractual obligations, reclamation obligations, and various other liabilities and obligations arising out of or relating to the Kosmos Business after the closing of the transaction.

The purchase price (Kosmos Purchase Price) to be paid in the transaction is $665 million in cash, subject to a customary post-closing inventory adjustment. We expect to fund the Purchase Price and expenses incurred in connection with the transaction through a combination of cash on hand and a syndicated term loan facility. The transaction is expected to close in the fourth quarter of fiscal 2020 following the satisfaction of customary closing conditions. The Kosmos Business will be included in the Cement business in our segment reporting.

IMPAIRMENT OF LONG-LIVED ASSETS

9 Months Ended

Dec. 31, 2019

Impairment Of Long Lived Assets Disclosure [Abstract]

IMPAIRMENT OF LONG-LIVED ASSETS

We assess our long-lived assets, including mining and related assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset, or group of assets, may not be recoverable. We evaluate long-lived assets or groups of assets, for impairment at the lowest level for which cash flows are largely independent of the cash flows of other assets. When impairment indicators are identified, we first assess recoverability of assets, or group of assets, by comparing the carrying amount of an asset, or group of assets, to the future undiscounted net cash flows that we expect the asset, or group of assets, to generate. These impairment evaluations are significantly affected by estimates of future revenue, costs and expenses and other factors. If the carrying value of the assets or group of assets exceeds the undiscounted cash flows, then an impairment is indicated. If such assets or group of assets are considered to be impaired, the impairment is recognized as the amount by which the carrying amount of the asset, or group of assets, exceeds the fair value of the asset, or group of assets.

During the second half of calendar year 2019, our Oil and Gas Proppants financial results have been negatively affected by a combination of low demand for our products and the increased use of in-basin sand instead of northern white frac sand. Faced with these dynamics, in connection with the preparation of our financial statements for the three and nine months ended December 31, 2019, we concluded that the reduction in sales volumes and operating losses were other than temporary and that long-lived asset impairment indicators were present in our Oil and Gas Proppants segment.

Prior to performing recoverability tests to determine whether an impairment was present, we grouped the long-lived assets of the segment into the lowest level at which cash flows are generated, which is considered the operating facility or distribution level. We included the value of our lease right-of-use assets that support the operating facilities within the value of the operating facility prior to performing our recoverability tests. We then performed recoverability tests on each group of assets using probability-weighted estimates of forecasted

undiscounted cash flows over the remaining estimated life of each asset group based on a variety of scenarios. Based on these forecasts, we concluded that the carrying values exceeded the undiscounted cash flows for our New Auburn, Wisconsin and Utica, Illinois operating facilities and several distribution facilities related to these operating facilities, indicating impairment.

For those impaired asset groups, we calculated the estimated fair value of the operating facilities in New Auburn, Wisconsin, Utica, Illinois and related distribution terminals, using a discounted cash flow model (Level 3), which utilized a weighted-average cost of capital determined from relevant market comparisons and adjusted for specific risks. We compared the results of the discounted cash flow model to other recent market information about the value of similar assets, noting the amounts to be consistent. The analysis resulted in an impairment loss of approximately $216.8 million.

The following is a summary of impact of the impairment on the net book value of the long-lived assets:

	Net Book Value Before Impairment		Impairment			Net Book Value After Impairment
	(dollars in thousands)
Operating Facilities	$	170,324	$	(164,449	)	$	5,875
Transload Locations		23,254		(21,805	)		1,449
Real Estate		1,427		(1,377	)		50
Lease Right-of-Use Assets		32,834		(29,146	)		3,688
	$	227,839	$	(216,777	)	$	11,062

We continue to be subject to volatility in the energy markets. We will continue to assess the remaining long-lived assets for impairment, as necessary, when facts and circumstance indicate an impairment might be present. Additionally, we are actively pursuing alternatives for this business. If this results in an alternative use or disposal of the business, additional losses may be incurred.

In addition to the impairment of the operating facilities and transload facilities, we also assessed other current and long-term assets for impairment. As part of this analysis, we wrote down certain Inventories, Prepaid and Other Current Assets, Accounts and Note Receivable and Other Assets.

The following is a summary of Impairment Losses recognized during the three months ended December 31, 2019, by line item:

	(dollars in thousands)
Property, Equipment, and Real Estate	$	187,631
Lease Right-of-Use Assets		29,146
Inventories		6,256
Accounts and Notes Receivable		617
Prepaid and Other Assets		617
	$	224,267

The above Impairment Loss has been presented as a single line item on our Unaudited Consolidated Statement of Earnings (Loss) for the three and nine months ended December 31, 2019. Additionally, this loss has not been included in the segment disclosure of Operating Earnings (Loss) for the Oil and Gas Proppants business, as disclosed in Footnote (P).

SUPPLEMENTAL CASH FLOW INFORMATION

9 Months Ended

Dec. 31, 2019

Supplemental Cash Flow Elements [Abstract]

SUPPLEMENTAL CASH FLOW INFORMATION

(D) SUPPLEMENTAL CASH FLOW INFORMATION

Supplemental cash flow information is as follows:

	For the Nine Months Ended December 31,
	2019		2018
	(dollars in thousands)
Cash Payments:
Interest	$	25,490	$	17,826
Income Taxes		20,046		35,222
Operating Cash Flows used for Operating Leases		11,562		—

Non Cash Financing Activities:
Property and Equipment Purchases Included in Accrued Liabilities	$	2,675	$	—

REVENUE

9 Months Ended

Dec. 31, 2019

Revenue From Contract With Customer [Abstract]

REVENUE

(E) REVENUE

We earn Revenue primarily from the sale of products, which include cement, concrete, aggregates, gypsum wallboard, recycled paperboard, and frac sand. The vast majority of Revenue from the sale of cement, concrete, aggregates, and gypsum wallboard is originated by purchase orders from our customers, who are primarily third-party contractors and suppliers. Revenue from our Recycled Paperboard and Oil and Gas Proppants segments is generated primarily through long-term supply agreements that mature between 2019 and 2025. We also earn Revenue from transload services and storage; we recognize Revenue from these services when the product is transferred from the rail car to the truck or silo, or from the silo to the railcar or truck. We invoice customers upon shipment, and our collection terms range from 30-65 days. We recognize Revenue from the sale of cement, concrete, aggregates, and gypsum wallboard that is not related to long-term supply agreements upon shipment of the related products to customers, which is when title and ownership are transferred and the customer is obligated to pay.

Revenue from sales under our long-term supply agreements is also recognized upon transfer of control to the customer, which generally occurs at the time the product is shipped from the production facility or transload location. Our long-term supply agreements with customers define, among other commitments, the volume of product that we must provide and the volume that the customer must purchase by the end of the defined periods. Pricing structures under our agreements are generally market-based but are subject to certain contractual adjustments. Historically, the pricing and volume requirements under certain of these contracts have been renegotiated during volatile market conditions. Shortfall amounts, if applicable under these arrangements, are constrained and not recognized as Revenue until an agreement is reached with the customer and not subject to the risk of reversal. During the nine months ended December 31, 2019, we recognized $1.6 million of Revenue related to shortfall provisions in our contracts.

The Company offers certain of its customers, including those with long-term supply agreements, rebates and incentives, which we treat as variable consideration. We adjust the amount of Revenue recognized for the variable consideration using the most likely amount method based on past history and projected volumes in the rebate and incentive period. Any amounts billed to customers for taxes are excluded from Revenue.

The Company has elected to treat freight and delivery charges we pay for the delivery of goods to our customers as a fulfilment activity rather than a separate performance obligation. When we arrange for a third party to deliver products to customers, fees for shipping and handling that are billed to the customer are recorded as Revenue, while costs we incur for shipping and handling are recorded as expenses and included in Cost of Goods Sold.

Other Non-Operating Income includes lease and rental income, asset-sale income, non-inventoried aggregates sales income, distribution-center income, and trucking income, as well as other miscellaneous revenue items and costs that have not been allocated to a business segment.

See Footnote (P) to the Unaudited Consolidated Financial Statements for disaggregation of Revenue by segment.

INVENTORIES

9 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

INVENTORIES

(H) INVENTORIES

Inventories are stated at the lower of average cost (including applicable material, labor, depreciation, and plant overhead) or net realizable value, and consist of the following:

	December 31,		March 31,
	2019		2019
	(dollars in thousands)
Raw Materials and Materials-in-Progress	$	93,865	$	125,828
Finished Cement		24,673		27,826
Aggregates		7,588		7,351
Gypsum Wallboard		4,881		7,124
Paperboard		11,638		15,660
Frac Sand		529		2,557
Repair Parts and Supplies		81,445		80,676
Fuel and Coal		9,645		8,172
	$	234,264	$	275,194

During the nine months ended December 31, 2019, we wrote down approximately $3.3 million, $1.7 million, and $1.3 million of Raw Materials and Materials-in-Progress, Frac Sand, and Repair Parts and Supplies. These inventories related to the impairment of our Oil and Gas Proppants segment described in Footnote (C).

ACCRUED EXPENSES

9 Months Ended

Dec. 31, 2019

Payables And Accruals [Abstract]

ACCRUED EXPENSES

(I) ACCRUED EXPENSES

Accrued Expenses consist of the following:

	December 31,		March 31,
	2019		2019
	(dollars in thousands)
Payroll and Incentive Compensation	$	27,548	$	26,225
Benefits		13,272		12,673
Interest		6,606		3,852
Property Taxes		4,745		5,058
Power and Fuel		1,635		1,644
Litigation Settlements		—		1,900
Sales and Use Tax		1,130		2,167
Legal and Professional		5,870		—
Other		6,864		8,430
	$	67,670	$	61,949

LEASES

9 Months Ended

Dec. 31, 2019

Leases [Abstract]

LEASES

(J) LEASES

We lease certain real estate, buildings, and equipment, including rail cars. Certain of these leases contain escalations of rent over the term of the lease, as well as options for us to extend the term of the lease at the end of the original term. These extensions range from periods of one year to twenty years. Our lease agreements do not contain material residual value guarantees or material restrictive covenants. In calculating the present value of future minimum lease payments, we use the rate implicit in the lease if it can be determined. Otherwise, we use our incremental borrowing rate in effect at the commencement of the lease to determine the present value of the future minimum lease payments. Additionally, we lease certain equipment under short-term leases with initial terms of less than twelve months. These short-term equipment leases are not recorded on the balance sheet.

Lease expense for our operating and short-term leases is as follows:


	For the Three Months Ended December 31, 2019		For the Nine Months Ended December 31, 2019
	(dollars in thousands)
Operating Lease Cost	$	3,730	$	11,639
Short-term Lease Cost		228		1,310
Total Lease Cost	$	3,958	$	12,949

The Right-of-Use Assets and Lease Liabilities are reflected on our Balance Sheet as follows:


	For the Nine Months Ended December 31, 2019
	(dollars in thousands)
Operating Leases:
Operating Lease Right-of-Use Assets	$	29,346

Current Operating Lease Liabilities	$	10,601
Noncurrent Operating Lease Liabilities		51,939
Total Operating Lease Liabilities	$	62,540

During the quarter ended December 31, 2019, we recognized a $29.1 million impairment related to Right-of-Use assets used by our Oil and Gas Proppants business. See Footnote (C) for additional information about the impairment loss.

Future payments for operating leases are as follows:


	Amount
Fiscal Year	(dollars in thousands)
2020 (remaining three months)	$	3,318
2021		11,931
2022		10,618
2023		10,131
2024		8,585
Thereafter		30,945
Total Lease Payments	$	75,528
Less: Imputed Interest		(12,988	)
Present Value of Lease Liabilities	$	62,540

Weighted Average Remaining Lease Term (in years)		9.2
Weighted Average Discount Rate		3.75	%

As disclosed in our March 31, 2019 Form 10-K, future minimum lease payments were as follows:


	Amount
Fiscal Year	(dollars in thousands)
2020	$	14,613
2021		11,487
2022		9,979
2023		9,784
2024		8,347
Thereafter		24,793
Total Lease Payments	$	79,003

SHARE-BASED EMPLOYEE COMPENSATION

9 Months Ended

Dec. 31, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

SHARE-BASED EMPLOYEE COMPENSATION

(K) Share-BASED EMPLOYEE COMPENSATION

On August 7, 2013, our stockholders approved the Eagle Materials Inc. Amended and Restated Incentive Plan (the Plan), which increased the shares we are authorized to issue as awards by 3,000,000 (1,500,000 of which may be stock awards). Under the terms of the Plan, we can issue equity awards, including stock options, restricted stock units (RSUs), restricted stock, and stock appreciation rights to employees of the Company and members of the Board of Directors. Awards that were already outstanding prior to the approval of the Plan on August 7, 2013 remain outstanding. The Compensation Committee of our Board of Directors specifies the terms for grants of equity awards under the Plan.

Long-Term Compensation Plans

OPTIONS

In May 2019, the Compensation Committee of the Board of Directors approved the granting of an aggregate of 100,849 performance-vesting stock options (the Fiscal 2020 Employee Performance Stock Option Grant) to certain officers and key employees that will be earned only if certain performance conditions are satisfied. The performance criteria for the Fiscal 2020 Employee Performance Stock Option Grant is based upon the achievement of certain levels of return on equity (as defined in the option agreements), ranging from 10.0% to 20.0%, for the fiscal year ending March 31, 2020. All stock options will be earned if the return on equity is 20.0% or greater, and the percentage of shares earned will be reduced proportionately to approximately 66.7% if the return on equity is 10.0%. If the Company does not achieve a return on equity of at least 10.0%, all stock options granted will be forfeited. Following any such reduction, restrictions on the earned stock options will lapse ratably over four years, with the initial fourth lapsing promptly following the determination date, and the remaining restrictions lapsing on March 31, 2021 through 2023. The stock options have a term of ten years from the date of grant. The Compensation Committee also approved a grant to the same officers and key employees of 84,043

time-vesting stock options, which vest ratably over four years (the Fiscal 2020 Employee Time-Vesting Stock Option Grant).

The weighted average assumptions used in the Black-Scholes model to value the option awards in fiscal 2020 are as follows:


Dividend Yield		1.3	%
Expected Volatility		31.4	%
Risk Free Interest Rate		2.32	%
Expected Life	6.0 years

Stock option expense for all outstanding stock option awards totaled approximately $1.2 million and $3.5 million for the three and nine months ended December 31, 2019, respectively, and $0.9 million and $3.0 million for the three and nine months ended December 31, 2018, respectively. At December 31, 2019, there was approximately $8.4 million of unrecognized compensation cost related to outstanding stock options, which is expected to be recognized over a weighted average period of 2.6 years.

The following table represents stock option activity for the nine months ended December 31, 2019:

	Number of Shares			Weighted Average Exercise Price
Outstanding Options at Beginning of Year		1,042,925		$	76.88
Granted		184,892		$	91.58
Exercised		(57,255	)	$	87.99
Cancelled		(7,883	)	$	102.69
Outstanding Options at December 31, 2019		1,162,679		$	80.25
Options Exercisable at December 31, 2019		732,860		$	73.27
Weighted Average Fair Value of Options Granted During the Year				$	27.37

The following table summarizes information about stock options outstanding at December 31, 2019:

	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number of Shares Outstanding		Weighted Average Remaining Contractual Life (in years)		Weighted Average Exercise Price		Number of Shares Outstanding		Weighted Average Exercise Price
$23.17 - $29.84		65,912		1.60	$	23.27		65,912	$	23.27
$33.43 - $37.34		57,728		2.46	$	34.03		57,728	$	34.03
$53.22 - $77.67		272,834		5.53	$	72.22		201,712	$	71.84
$79.73 - $106.24		766,205		6.99	$	91.49		407,508	$	87.63
		1,162,679		6.12	$	80.25		732,860	$	73.27

At December 31, 2019, the aggregate intrinsic values for the outstanding and exercisable options were approximately $15.3 million and $13.8 million, respectively. The total intrinsic value of options exercised during the nine months ended December 31, 2019 was approximately $2.0 million.

RESTRICTED STOCK

In May 2019, the Compensation Committee approved the granting of an aggregate of 51,112 shares of performance vesting restricted stock to certain officers and key employees (the Fiscal 2020 Employee Restricted Stock Performance Award) that will be earned only if certain performance conditions are satisfied. The performance criteria for the Fiscal 2020 Employee Restricted Stock Performance Award is based upon the achievement of certain levels of return on equity (as defined in the award agreement), ranging from 10.0% to 20.0%, for the fiscal year ending March 31, 2020. All restricted shares will be earned if the return on equity is 20.0% or greater, and the percentage of shares earned will be reduced proportionately to approximately 66.7% if the return on equity is 10.0%. If the Company does not achieve a return on equity of at least 10.0%, all awards will be forfeited. Following any such reduction, restrictions on the earned shares will lapse ratably over four years,

with the initial fourth lapsing promptly following the determination date, and the remaining restrictions lapsing on March 31, 2021 through 2023. The Compensation Committee also approved a grant to the same officers and key employees of 42,591 shares of time-vesting restricted stock (the Fiscal 2020 Employee Restricted Stock Time-Vesting Award), which vest ratably over four years. The Fiscal 2020 Employee Restricted Stock Performance Award and the Fiscal 2020 Employee Restricted Stock Time-Vesting Award were valued at the closing price of the stock on the date of grant and are being expensed over a four-year period.

In August 2019, we granted to members of the Board of Directors 24,589 shares of restricted stock which vest six months after the grant date (the Board of Directors Fiscal 2020 Restricted Stock Award). The Board of Directors Fiscal 2020 Restricted Stock Award was valued at the closing price of the stock at the date of the grant and is being expensed over a six-month period.

The fair value of restricted stock is based on the stock price at the date of grant. The following table summarizes the activity for nonvested restricted shares during the nine months ended December 31, 2019:

	Number of Shares			Weighted Average Grant Date Fair Value
Restricted Stock Beginning of Year		300,115		$	78.94
Granted		118,292		$	90.08
Vested		(83,307	)	$	95.01
Forfeited		(15,940	)	$	58.64
Nonvested Restricted Stock at December 31, 2019		319,160

Expense related to restricted shares was approximately $3.1 million and $12.9 million for the three and nine months ended December 31, 2019, respectively, and $3.1 million and $8.6 million for the three and nine months ended December 31, 2018, respectively. At December 31, 2019, there was approximately $15.4 million of unearned compensation from restricted stock, which will be recognized over a weighted average period of 2.1 years.

The number of shares available for future grants of stock options, restricted stock units, stock appreciation rights, and restricted stock under the Plan was 3,758,359 at December 31, 2019.

COMPUTATION OF EARNINGS PER SHARE

9 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

COMPUTATION OF EARNINGS PER SHARE

(L) COMPUTATION OF EARNINGS PER SHARE

The calculation of basic and diluted common shares outstanding is as follows:

	For the Three Months Ended December 31,					For the Nine Months Ended December 31,
	2019		2018			2019		2018
Weighted Average Shares of Common Stock Outstanding		41,314,289		46,275,198			42,246,329		47,059,408
Effect of Dilutive Shares:
Assumed Exercise of Outstanding Dilutive Options		—		268,283			—		629,968
Less Shares Repurchased from Proceeds of Assumed Exercised Options		—		(171,402	)		—		(442,898	)
Restricted Stock Units		—		123,915			—		156,793
Weighted Average Common Stock and Dilutive Securities Outstanding		41,314,289		46,495,994			42,246,329		47,403,271
Shares Excluded Due to Anti-dilution Effects		655,889		756,035			657,964		360,976

There are no dilutive instruments for the three and nine month periods ended December 31, 2019, as the inclusion of these instruments would be anti-dilutive. Of the shares excluded due to anti-dilution effects, 301,206 shares and 281,031 shares would have been considered dilutive if not for the net loss position for the three and nine months ended December 31, 2019, respectively.

PENSION AND EMPLOYEE BENEFIT PLANS

9 Months Ended

Dec. 31, 2019

Compensation And Retirement Disclosure [Abstract]

PENSION AND EMPLOYEE BENEFIT PLANS

(M) PENSION AND EMPLOYEE BENEFIT PLANS

We sponsor several defined benefit pension plans and defined contribution plans, which together cover substantially all our employees. Benefits paid under the defined benefit plans covering certain hourly employees are based on years of service and the employee’s qualifying compensation over the last few years of employment.

The following table shows the components of net periodic cost for our plans:

	For the Three Months Ended December 31,						For the Nine Months Ended December 31,
	2019			2018			2019			2018
	(dollars in thousands)
Service Cost - Benefits Earned During the Period	$	85		$	100		$	255		$	300
Interest Cost of Projected Benefit Obligation		338			337			1,013			1,011
Expected Return on Plan Assets		(426	)		(463	)		(1,279	)		(1,389	)
Recognized Net Actuarial Loss		43			58			131			174
Amortization of Prior-Service Cost		—			15			—			45
Net Periodic Pension Cost	$	40		$	47		$	120		$	141

LONG-TERM DEBT

9 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

LONG-TERM DEBT

(O) LONG-TERM DEBT

Long-term Debt consists of the following:

	December 31,			March 31,
	2019			2019
	(dollars in thousands)
Bank Credit Facility	$	585,000		$	310,000
4.500% Senior Unsecured Notes Due 2026		350,000			350,000
Private Placement Senior Unsecured Notes		—			36,500
Total Debt		935,000			696,500
Less: Current Portion of Long-term Debt		—			(36,500	)
Less: Debt Origination Costs		(4,406	)		(4,908	)
Long-term Debt	$	930,594		$	655,092

Credit Facility

We have a revolving credit facility (as amended as described below, the Amended Credit Facility) that terminates on August 2, 2021. During May 2019, we exercised our option to expand the revolving credit facility and increased the borrowing capacity from $500.0 million to $750.0 million. The Amended Credit Facility also includes a swingline loan sublimit of $25.0 million, which terminates on August 2, 2021. On December 20, 2019, we amended the revolving credit facility, which, among other things, primarily (i) modified the interest rates with respect to outstanding borrowings; (ii) allowed for the consummation of the Kosmos Acquisition; (iii) permitted the incurrence of additional indebtedness necessary to consummate the Kosmos Acquisition; (iv) modified the financial covenants to increase maximum leverage permitted under the Amended Credit Facility; and (v) made other changes, namely the selection of an alternate benchmark rate to replace the London Interbank Offered Rate (LIBOR). Borrowings under the Amended Credit Facility are guaranteed by substantially all of the Company's

subsidiaries. The debt under the Amended Credit Facility is not rated by ratings agencies. At our option, outstanding principal amounts on the Amended Credit Facility bear interest at a variable rate equal to either (i) the LIBOR plus an agreed margin (ranging from 125 to 200 basis points), which is to be established quarterly based on the Company's ratio of consolidated EBITDA, defined as earnings before interest, taxes, depreciation, and amortization, to the Company's consolidated indebtedness (the Leverage Ratio); or (ii) an alternate base rate, which is the highest of (a) the prime rate, (b) the federal funds rate plus ½% per annum, or (c) one month LIBOR plus 1.0%, in each case plus an agreed margin (ranging from 25 to 100 basis points). In the case of loans bearing interest at a rate based on the alternate base rate, interest payments are payable quarterly. In the case of loans bearing interest at a rate based on LIBOR, interest is payable at the end of the LIBOR advance periods, which can be up to six months at the option of the Company. The Company is also required to pay a commitment fee on unused available borrowings under the Amended Credit Facility ranging from 15 to 30 basis points depending upon the Leverage Ratio. The Amended Credit Facility contains customary covenants that restrict our ability to incur additional debt; encumber our assets; sell assets; make or enter into certain investments, loans, or guaranties; and enter into sale and leaseback arrangements. The Amended Credit Facility also requires us to maintain a consolidated indebtedness ratio (calculated as consolidated indebtedness to consolidated earnings before interest, taxes, depreciation, amortization, certain transaction-related deductions, and other non-cash deductions) of 4.0:1.0 or less for fiscal quarters ended between December 31, 2019 and June 30, 2020; 3.75:1.0 for fiscal quarters ended between September 30, 2020 through December 31, 2020; and 3.5:1.0 for fiscal quarters after December 31, 2020. The Amended Credit Facility also requires us to maintain an interest coverage ratio (consolidated earnings before interest, taxes, depreciation, amortization, certain transaction-related deductions, and other non-cash deductions to consolidated interest expense) of at least 2.5:1.0. We were in compliance with all financial ratios and tests at December 31, 2019. We had $585.0 million of borrowings outstanding under the Amended Credit Facility at December 31, 2019. We had $158.1 million of available borrowings under the Amended Credit Facility, net of the outstanding letters of credit, at December 31, 2019, all of which is available for future borrowings based on our current leverage ratio.

The Amended Credit Facility has a $40.0 million letter of credit facility. Under the letter of credit facility, the Company pays a fee at a per annum rate equal to the applicable margin for Eurodollar loans in effect from time to time plus a one-time letter of credit fee in an amount equal to 0.125% of the initial stated amount. At December 31, 2019, we had $6.9 million of outstanding letters of credit .

Term Loan Agreement

On December 20, 2019, we entered into a Credit Agreement (the Term Loan Agreement) establishing a $665.0 million term loan facility which, subject to the satisfaction of certain customary conditions, may be used to pay the Kosmos Purchase Price and fees and expenses incurred in connection with the Kosmos Acquisition. As of December 31, 2019, there has been no borrowing under the Term Loan Agreement. The commitments for the Term Loan Agreement terminate on the earlier of (a) the fifth business day following March 31, 2020, in the event that the term loans under the Term Loan Agreement have not been funded on or prior to such date and (b) the valid termination of the asset purchase agreement without the occurrence of the consummation of the Kosmos Acquisition. The term loan would mature on August 2, 2021.

Borrowings under the Term Loan Agreement will bear interest, at our option, at a floating rate per annum equal to either the alternate base rate (consistent with the Amended Credit Facility), plus a margin between 25 and 100 basis points, or based on the adjusted LIBOR plus a margin between 125 and 200 basis points, depending on the ratio of our consolidated indebtedness to consolidated EBITDA (consistent with the Amended Credit Facility). We must also maintain a ratio of consolidated indebtedness to consolidated EBITDA consistent with the Amended Credit Facility.

4.500% Senior Unsecured Notes Due 2026

On August 2, 2016, the Company issued $350.0 million aggregate principal amount of 4.500% senior notes (Senior Unsecured Notes) due August 2026. Interest on the Senior Unsecured Notes is payable semiannually on

February 1 and August 1 of each year until all of the outstanding notes are paid. The Senior Unsecured Notes rank equal to existing and future senior indebtedness, including the Amended Credit Facility and the Term Loan Agreement. Prior to August 1, 2021, we may redeem some or all of the Senior Unsecured Notes at a price equal to 100% of the principal amount, plus a “make-whole” premium. Beginning August 1, 2021, we may redeem some or all of the Senior Unsecured Notes at the redemption prices set forth below (expressed as a percentage of the principal amount being redeemed):

	Percentage
2021		102.25	%
2022		101.50	%
2023		100.75	%
2024 and thereafter		100.00	%

The Senior Unsecured Notes contain covenants that limit our ability and/or our guarantor subsidiaries' ability to create or permit to exist certain liens; enter into sale and leaseback transactions; and consolidate, merge, or transfer all or substantially all of our assets. The Company’s Senior Unsecured Notes are fully, unconditionally, jointly, and severally guaranteed by each of our subsidiaries that are guarantors under the Amended Credit Facility. See Footnote (T) for more information on the guarantors of the Senior Public Notes.

Private Placement Senior Unsecured Notes

On October 2, 2019, we paid $36.5 million to retire the remaining notes due under the Private Placement Senior Unsecured Notes.

Other Information

We lease one of our cement plants from the city of Sugar Creek, Missouri. The city of Sugar Creek issued industrial revenue bonds to partly finance improvements to the cement plant. The lease payments due to the city of Sugar Creek under the cement plant lease, which was entered into upon the sale of the industrial revenue bonds, are equal in amount to the payments required to be made by the city of Sugar Creek to the holders of the industrial revenue bonds. Because we hold all outstanding industrial revenue bonds, no debt is reflected on our financial statements in connection with our lease of the cement plant. Upon expiration of the lease in fiscal 2021, we have the option to purchase the cement plant for a nominal amount.

SEGMENT INFORMATION

9 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

SEGMENT INFORMATION

(P) SEGMENT INFORMATION

Operating segments are defined as components of an enterprise that engage in business activities that earn revenue, incur expenses, and prepare separate financial information that is evaluated regularly by our chief operating decision maker in order to allocate resources and assess performance.

We are a leading supplier of heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. Our products are commodities that are essential in commercial and residential construction; public construction projects; projects to build, expand, and repair roads and highways; and in oil and natural gas extraction.

Our business is organized into three sectors, within which there are five reportable business segments. The Heavy Materials sector includes the Cement and Concrete and Aggregates segments. The Light Materials sector includes the Gypsum Wallboard and Recycled Paperboard segments. The Oil and Gas Proppants segment produces frac sand used in oil and gas extraction.

Our operations are conducted in the U.S. and include the mining of limestone for the manufacture, production, distribution, and sale of portland cement (a basic construction material that is the essential binding ingredient in concrete); the grinding and sale of slag; the mining of gypsum for the manufacture and sale of gypsum wallboard; the manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard

converters; the sale of readymix concrete; and the mining and sale of aggregates (crushed stone, sand, and gravel) and sand used in hydraulic fracturing (frac sand).

We operate seven modern cement plants (one of which is operated through a joint venture located in Buda, Texas), one slag grinding facility, and 19 cement distribution terminals. Our cement companies focus on the U.S. heartland and operate as an integrated network selling product primarily in California, Colorado, Illinois, Iowa, Missouri, Nebraska, Nevada, Ohio, Oklahoma, and Texas. We operate 25 readymix concrete batch plants and five aggregates processing plants in markets that are complementary to our cement network.

We operate five gypsum wallboard plants and a recycled paperboard mill. We distribute gypsum wallboard and recycled paperboard throughout the continental U.S., with the exception of the Northeast.

Our Oil and Gas Proppants business owns two frac sand processing facilities, four frac sand drying facilities, and five frac sand trans-load locations. Frac sand is currently sold into shale deposits across the United States.

We account for intersegment sales at market prices. For segment reporting purposes only, we proportionately consolidate our 50% share of the Joint Venture’s Revenue and Operating Earnings, consistent with the way management reports the segments within the Company for making operating decisions and assessing performance.

The following table sets forth certain financial information relating to our operations by segment. We do not allocate interest or taxes at the segment level; these costs are disclosed at the consolidated company level.

	For the Three Months Ended December 31,						For the Nine Months Ended December 31,
	2019			2018			2019			2018
	(dollars in thousands)
Revenue -
Cement	$	183,031		$	163,732		$	605,357		$	543,681
Concrete and Aggregates		47,147			30,841			142,895			111,425
Gypsum Wallboard		125,070			130,954			380,454			402,978
Paperboard		37,813			39,638			122,360			126,048
Oil and Gas Proppants		7,345			14,100			36,535			65,266
		400,406			379,265			1,287,601			1,249,398
Less: Intersegment Revenue		(21,775	)		(20,611	)		(66,454	)		(62,746	)
Less: Joint Venture Revenue		(28,382	)		(25,369	)		(85,775	)		(78,112	)
	$	350,249		$	333,285		$	1,135,372		$	1,108,540

	For the Three Months Ended December 31,				For the Nine Months Ended December 31,
	2019		2018		2019		2018
	(dollars in thousands)
Intersegment Revenue -
Cement	$	6,174	$	3,518	$	17,130	$	11,769
Concrete and Aggregates		350		346		1,134		1,178
Paperboard		15,251		16,747		48,190		49,799
	$	21,775	$	20,611	$	66,454	$	62,746
Cement Sales Volume (M tons) -
Wholly Owned		1,199		1,126		4,046		3,740
Joint Venture		240		218		721		672
		1,439		1,344		4,767		4,412

	For the Three Months Ended December 31,						For the Nine Months Ended December 31,
	2019			2018			2019			2018
	(dollars in thousands)
Operating Earnings (Loss) -
Cement	$	54,180		$	47,197		$	156,827		$	142,078
Concrete and Aggregates		3,334			1,037			15,023			10,621
Gypsum Wallboard		38,484			43,543			114,872			139,694
Paperboard		9,021			7,475			29,060			26,078
Oil and Gas Proppants		(6,805	)		(9,324	)		(15,944	)		(19,554	)
Sub-Total		98,214			89,928			299,838			298,917
Corporate General and Administrative Expense		(13,794	)		(9,408	)		(48,506	)		(27,333	)
Impairment Losses		(224,267	)		—			(224,267	)		—
Litigation Settlements and Losses		—			—			—			(1,800	)
Other Non-Operating Income		825			1,292			1,967			2,291
Earnings (Loss) Before Interest and Income Taxes		(139,022	)		81,812			29,032			272,075
Interest Expense, net		(9,543	)		(7,294	)		(28,526	)		(20,743	)
Earnings (Loss) Before Income Taxes	$	(148,565	)	$	74,518		$	506		$	251,332
Cement Operating Earnings -
Wholly Owned	$	43,480		$	37,690		$	124,338		$	113,147
Joint Ventures		10,700			9,507			32,489			28,931
	$	54,180		$	47,197		$	156,827		$	142,078
Capital Expenditures -
Cement	$	7,379		$	17,691		$	26,125		$	51,524
Concrete and Aggregates		3,233			2,263			9,324			4,786
Gypsum Wallboard		273			2,054			8,647			8,533
Paperboard		12,885			1,486			42,484			7,896
Oil and Gas Proppants		86			5,818			151			48,684
Corporate and Other		—			3,690			—			5,023
	$	23,856		$	33,002		$	86,731		$	126,446
Depreciation, Depletion, and Amortization -
Cement	$	14,189		$	13,242		$	42,275		$	38,909
Concrete and Aggregates		3,105			2,049			8,050			6,154
Gypsum Wallboard		5,050			4,978			15,149			15,009
Paperboard		2,244			2,150			6,610			6,387
Oil and Gas Proppants		3,445			6,964			11,087			24,403
Corporate and Other		578			402			1,773			1,099
	$	28,611		$	29,785		$	84,944		$	91,961

	December 31,		March 31,
	2019		2019
	(dollars in thousands)
Identifiable Assets
Cement	$	1,282,081	$	1,289,468
Concrete and Aggregates		139,769		95,084
Gypsum Wallboard		367,833		372,206
Paperboard		169,508		138,614
Oil and Gas Proppants		18,029		236,357
Corporate and Other, net		153,005		37,434
	$	2,130,225	$	2,169,163

The Capital Expenditures for the nine months ended December 31, 2019 disclosed above differ from the Capital Expenditures on the Unaudited Consolidated Statement of Cash Flows. The Capital Expenditures disclosed above includes $2.7 million of capital expenditures that were accrued at December 31, 2019 and therefore is not included in the Statement of Cash Flows. See Footnote (D) for more information.

Segment Operating Earnings, including the proportionately consolidated 50% interest in the revenue and expenses of the Joint Venture, represent Revenue, less direct operating expenses, segment Depreciation, Depletion and Amortization, and segment Selling, General and Administrative expenses. We account for intersegment sales at market prices. Corporate and Other, net consists primarily of cash and cash equivalents, general office assets, and miscellaneous other assets.

The basis used to disclose Identifiable Assets; Capital Expenditures; and Depreciation, Depletion, and Amortization conforms with the equity method, and is similar to how we disclose these accounts in our Unaudited Consolidated Balance Sheets and Unaudited Consolidated Statements of Earnings

The segment breakdown of Goodwill is as follows:

	December 31,		March 31,
	2019		2019
	(dollars in thousands)
Cement	$	74,214	$	74,214
Gypsum Wallboard		116,618		116,618
Paperboard		7,538		7,538
Concrete and Aggregates		1,639		—
	$	200,009	$	198,370

Summarized financial information for the Joint Venture that is not consolidated is set out below (this summarized financial information includes the total amount for the Joint Venture and not our 50% interest in those amounts):

	For the Three Months Ended December 31,				For the Nine Months Ended December 31,
	2019		2018		2019		2018
	(dollars in thousands)
Revenue	$	56,767	$	51,411	$	172,385	$	158,922
Gross Margin	$	22,749	$	20,178	$	68,806	$	62,196
Earnings Before Income Taxes	$	21,402	$	19,013	$	64,979	$	57,862

	December 31,		March 31,
	2019		2019
	(dollars in thousands)
Current Assets	$	80,108	$	71,688
Non-Current Assets	$	88,242	$	81,007
Current Liabilities	$	19,190	$	19,309

INTEREST EXPENSE

9 Months Ended

Dec. 31, 2019

Banking And Thrift Interest [Abstract]

INTEREST EXPENSE

(Q) INTEREST EXPENSE

The following components are included in Interest Expense, net:

	For the Three Months Ended December 31,						For the Nine Months Ended December 31,
	2019			2018			2019			2018
	(dollars in thousands)
Interest Income		(12	)	$	(7	)		(23	)	$	(119	)
Interest Expense		9,250			7,022			27,682			20,024
Other Expenses		305			279			867			838
Interest Expense, net	$	9,543		$	7,294		$	28,526		$	20,743

Interest Income includes interest on investments of excess cash. Components of Interest Expense include interest associated with the Amended Credit Facility, Senior Unsecured Notes, Private Placement Senior Unsecured Notes, and commitment fees based on the unused portion of the Amended Credit Facility. Other Expenses include amortization of debt issuance costs and credit facility costs.

FAIR VALUE OF FINANCIAL INSTRUMENTS

9 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

(S) FAIR VALUE OF FINANCIAL INSTRUMENTS

The fair value of our long-term debt has been estimated based upon our current incremental borrowing rates for similar types of borrowing arrangements. The fair value of our Senior Unsecured Notes at December 31, 2019 is as follows:

	Fair Value
	(dollars in thousands)
4.500% Senior Unsecured Notes Due 2026	$	366,909

The estimated fair values were based on quoted prices of similar debt instruments with similar terms that are publicly traded (level 2 input). The carrying values of Cash and Cash Equivalents, Restricted Cash, Accounts and Notes Receivable, Accounts Payable, and Accrued Liabilities approximate their fair values at December 31, 2019 due to the short-term maturities of these assets and liabilities. The fair value of our Amended Credit Facility also approximates its carrying value at December 31, 2019.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

FINANCIAL STATEMENTS FOR GUARANTORS OF THE 4.500% SENIOR UNSECURED NOTES

9 Months Ended

Dec. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

FINANCIAL STATEMENTS FOR GUARANTORS OF THE 4.500% SENIOR UNSECURED NOTES

(T) FINANCIAL STATEMENTS FOR GUARANTORS OF THE 4.500% SENIOR UNSECURED NOTES

On August 2, 2016, the Company completed a public offering of its Senior Unsecured Notes. The Senior Unsecured Notes are senior unsecured obligations of the Company and were offered under the Company’s existing shelf registration statement filed with the Securities and Exchange Commission.

The Senior Unsecured Notes are guaranteed by all of the Company’s wholly owned subsidiaries, and all guarantees are full and unconditional, and joint and several. The following unaudited condensed consolidating financial statements present separately the Earnings and Comprehensive Earnings, financial position and Cash Flows of the parent issuer (Eagle Materials Inc.) and the guarantors (all wholly owned subsidiaries of Eagle Materials Inc.) on a combined basis with eliminating entries (dollars in thousands).

Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Three Months Ended December 31, 2019	Parent			Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	350,249		$	—		$	350,249
Cost of Goods Sold		—			262,735			—			262,735
Gross Profit		—			87,514			—			87,514
Equity in Earnings of Unconsolidated Joint Venture		10,700			10,700			(10,700	)		10,700
Equity in Earnings of Subsidiaries		(88,687	)		—			88,687			—
Corporate General and Administrative Expenses		(13,359	)		(435	)		—			(13,794	)
Impairment Losses		—			(224,267	)		—			(224,267	)
Other Non-Operating Income		118			707			—			825
Interest Expense, net		(9,532	)		(11	)		—			(9,543	)
Earnings before Income Taxes		(100,760	)		(125,792	)		77,987			(148,565	)
Income Taxes		(13,872	)		47,805			—			33,933
Net Earnings	$	(114,632	)	$	(77,987	)	$	77,987		$	(114,632	)
Net Earnings	$	(114,632	)	$	(77,987	)	$	77,987		$	(114,632	)
Net Actuarial Change in Benefit Plans, net of tax		33			33			(33	)		33
Comprehensive Earnings	$	(114,599	)	$	(77,954	)	$	77,954		$	(114,599	)

Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Three Months Ended December 31, 2018	Parent			Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	333,285		$	—		$	333,285
Cost of Goods Sold		—			252,864			—			252,864
Gross Profit		—			80,421			—			80,421
Equity in Earnings of Unconsolidated Joint Venture		9,507			9,507			(9,507	)		9,507
Equity in Earnings of Subsidiaries		61,946			—			(61,946	)		—
Corporate General and Administrative Expenses		(8,863	)		(545	)		—			(9,408	)
Other Non-Operating Income		(43	)		1,335			—			1,292
Interest Expense, net		(7,282	)		(12	)		—			(7,294	)
Earnings before Income Taxes		55,265			90,706			(71,453	)		74,518
Income Taxes		2,450			(19,253	)		—			(16,803	)
Net Earnings	$	57,715		$	71,453		$	(71,453	)	$	57,715
Net Earnings	$	57,715		$	71,453		$	(71,453	)		57,715
Net Actuarial Change in Benefit Plans, net of tax		56			56			(56	)		56
Comprehensive Earnings	$	57,771		$	71,509		$	(71,509	)	$	57,771

Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Nine Months Ended December 31, 2019	Parent			Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	1,135,372		$	—		$	1,135,372
Cost of Goods Sold		—			868,023			—			868,023
Gross Profit		—			267,349			—			267,349
Equity in Earnings of Unconsolidated Joint Venture		32,489			32,489			(32,489	)		32,489
Equity in Earnings of Subsidiaries		47,036			—			(47,036	)		—
Corporate General and Administrative Expenses		(47,285	)		(1,221	)		—			(48,506	)
Impairment Losses		—			(224,267	)		—			(224,267	)
Other Non-Operating Income		525			1,442			—			1,967
Interest Expense, net		(28,490	)		(36	)		—			(28,526	)
Earnings before Income Taxes		4,275			75,756			(79,525	)		506
Income Taxes		(5,810	)		3,769			—			(2,041	)
Net Earnings	$	(1,535	)	$	79,525		$	(79,525	)	$	(1,535	)
Net Earnings	$	(1,535	)	$	79,525		$	(79,525	)	$	(1,535	)
Net Actuarial Change in Benefit Plans, net of tax		101			101			(101	)		101
Comprehensive Earnings	$	(1,434	)	$	79,626		$	(79,626	)	$	(1,434	)

Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Nine Months Ended December 31, 2018	Parent			Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	1,108,540		$	—		$	1,108,540
Cost of Goods Sold		—			838,554			—			838,554
Gross Profit		—			269,986			—			269,986
Equity in Earnings of Unconsolidated Joint Venture		28,931			28,931			(28,931	)		28,931
Equity in Earnings of Subsidiaries		204,234			—			(204,234	)		—
Corporate General and Administrative Expenses		(24,682	)		(2,651	)		—			(27,333	)
Legal Settlements		—			(1,800	)		—			(1,800	)
Other Non-Operating Income		(262	)		2,553			—			2,291
Interest Expense, net		(20,706	)		(37	)		—			(20,743	)
Earnings before Income Taxes		187,515			296,982			(233,165	)		251,332
Income Taxes		9,142			(63,817	)		—			(54,675	)
Net Earnings	$	196,657		$	233,165		$	(233,165	)	$	196,657
Net Earnings	$	196,657		$	233,165		$	(233,165	)		196,657
Net Actuarial Change in Benefit Plans, net of tax		168			168			(168	)		168
Comprehensive Earnings	$	196,825		$	233,333		$	(233,333	)	$	196,825

Condensed Consolidating Balance Sheet At December 31, 2019	Parent		Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current Assets -
Cash and Cash Equivalents	$	124,084	$	2,171		$	—		$	126,255
Accounts and Notes Receivable		439		139,844			—			140,283
Inventories		—		234,264			—			234,264
Prepaid and Other Current Assets		1,371		5,626			—			6,997
Total Current Assets		125,894		381,905			—			507,799
Property, Plant, and Equipment, net		6,884		1,262,849			—			1,269,733
Notes Receivable		—		9,192			—			9,192
Investment in Joint Venture		70		71,792			—			71,862
Investments in Subsidiaries and Receivables from Affiliates		2,074,575		322,106			(2,396,681	)		—
Operating Lease Right-of-Use Assets		9,975		19,371			—			29,346
Goodwill and Intangible Assets, net		—		230,099			—			230,099
Other Assets		5,844		6,350			—			12,194
	$	2,223,242	$	2,303,664		$	(2,396,681	)	$	2,130,225
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities-
Accounts Payable	$	6,572	$	58,463		$	—		$	65,035
Accrued Liabilities		27,114		40,556			—			67,670
Income Taxes Payable		20,020		—			—			20,020
Operating Lease Liabilities		1,162		9,439			—			10,601
Total Current Liabilities		54,868		108,458			—			163,326
Long-term Debt		930,594		—			—			930,594
Noncurrent Lease Liabilities		12,538		39,401			—			51,939
Other Long-term Liabilities		—		36,648			—			36,648
Payables to Affiliates		322,106		6,010,080			(6,332,186	)		—
Deferred Income Taxes		5,809		44,582			—			50,391
Total Liabilities		1,325,915		6,239,169			(6,332,186	)		1,232,898
Total Stockholders’ Equity		897,327		(3,935,505	)		3,935,505			897,327
	$	2,223,242	$	2,303,664		$	(2,396,681	)	$	2,130,225

Condensed Consolidating Balance Sheet At March 31, 2019	Parent		Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current Assets -
Cash and Cash Equivalents	$	5,779	$	2,822		$	—		$	8,601
Accounts and Notes Receivable		437		128,285			—			128,722
Inventories		—		275,194			—			275,194
Income Tax Receivables		5,480		—			—			5,480
Prepaid and Other Current Assets		1,472		8,152			—			9,624
Total Current Assets		13,168		414,453			—			427,621
Property, Plant, and Equipment, net		7,756		1,419,183			—			1,426,939
Notes Receivable		—		2,898			—			2,898
Investment in Joint Venture		70		64,803			—			64,873
Investments in Subsidiaries and Receivables from Affiliates		2,322,334		406,726			(2,729,060	)		—
Goodwill and Intangible Assets, net		—		229,115			—			229,115
Other Assets		4,571		13,146			—			17,717
	$	2,347,899	$	2,550,324		$	(2,729,060	)	$	2,169,163
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities-
Accounts Payable	$	5,520	$	75,364		$	—		$	80,884
Accrued Liabilities		22,470		39,479			—			61,949
Current Portion of Long-term Debt		36,500		—			—			36,500
Total Current Liabilities		64,490		114,843			—			179,333
Long-term Debt		655,092		—			—			655,092
Other Long-term Liabilities		3,303		31,189			—			34,492
Payables to Affiliates		406,726		5,730,093			(6,136,819	)		—
Deferred Income Taxes		8,801		81,958			—			90,759
Total Liabilities		1,138,412		5,958,083			(6,136,819	)		959,676
Total Stockholders’ Equity		1,209,487		(3,407,759	)		3,407,759			1,209,487
	$	2,347,899	$	2,550,324		$	(2,729,060	)	$	2,169,163

Condensed Consolidating Statement of Cash Flows For the Nine Months Ended December 31, 2019	Parent			Guarantor Subsidiaries			Eliminations		Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	$	(32,804	)	$	353,423		$	—	$	320,619
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment		—			(84,056	)		—		(84,056	)
Acquisition Spending		—			(30,424	)		—		(30,424	)
Net Cash Used in Investing Activities		—			(114,480	)		—		(114,480	)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase in Credit Facility		275,000			—			—		275,000
Repayment of Private Placement Senior Unsecured Notes		(36,500	)							(36,500	)
Dividends Paid to Stockholders		(13,131	)		—			—		(13,131	)
Purchase and Retirement of Common Stock		(313,887	)		—			—		(313,887	)
Proceeds from Stock Option Exercises		2,996			—			—		2,996
Shares Redeemed to Settle Employee Taxes on Stock Compensation		(2,963	)		—			—		(2,963	)
Intra-entity Activity, net		239,594			(239,594	)		—		—
Net Cash Provided by (Used in) Financing Activities		151,109			(239,594	)		—		(88,485	)
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH		118,305			(651	)		—		117,654
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD		5,779			2,822			—		8,601
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$	124,084		$	2,171		$	—	$	126,255

Condensed Consolidating Statement of Cash Flows For the Nine Months Ended December 31, 2018	Parent			Guarantor Subsidiaries			Eliminations		Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	$	(68,752	)	$	362,852		$	—	$	294,100
CASH FLOWS FROM INVESTING ACTIVITIES
Property, Plant, and Equipment Additions		(5,023	)		(121,423	)		—		(126,446	)
Proceeds from Sale of Property, Plant, and Equipment		—			2,281					2,281
Net Cash Used in Investing Activities		(5,023	)		(119,142	)		—		(124,165	)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of Credit Facility		5,000			—			—		5,000
Dividends Paid to Stockholders		(14,293	)		—			—		(14,293	)
Purchase and Retirement of Common Stock		(191,800	)		—			—		(191,800	)
Proceeds from Stock Option Exercises		1,992			—			—		1,992
Shares Redeemed to Settle Employee Taxes on Stock Compensation		(1,842	)		—			—		(1,842	)
Intra-entity Activity, net		245,683			(245,683	)		—		—
Net Cash Provided by (Used in) Financing Activities		44,740			(245,683	)		—		(200,943	)
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH		(29,035	)		(1,973	)		—		(31,008	)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD		44,537			3,531			—		48,068
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$	15,502		$	1,558		$	—	$	17,060

IMPAIRMENT OF LONG-LIVED ASSETS (Tables)

9 Months Ended

Dec. 31, 2019

Impairment Of Long Lived Assets Disclosure [Abstract]

Summary of Impact of Impairment on Net Book Value of Assets

The following is a summary of impact of the impairment on the net book value of the long-lived assets:

	Net Book Value Before Impairment		Impairment			Net Book Value After Impairment
	(dollars in thousands)
Operating Facilities	$	170,324	$	(164,449	)	$	5,875
Transload Locations		23,254		(21,805	)		1,449
Real Estate		1,427		(1,377	)		50
Lease Right-of-Use Assets		32,834		(29,146	)		3,688
	$	227,839	$	(216,777	)	$	11,062

Summary of Impairment Losses Recognized

The following is a summary of Impairment Losses recognized during the three months ended December 31, 2019, by line item:

	(dollars in thousands)
Property, Equipment, and Real Estate	$	187,631
Lease Right-of-Use Assets		29,146
Inventories		6,256
Accounts and Notes Receivable		617
Prepaid and Other Assets		617
	$	224,267

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)

9 Months Ended

Dec. 31, 2019

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

Supplemental cash flow information is as follows:

	For the Nine Months Ended December 31,
	2019		2018
	(dollars in thousands)
Cash Payments:
Interest	$	25,490	$	17,826
Income Taxes		20,046		35,222
Operating Cash Flows used for Operating Leases		11,562		—

Non Cash Financing Activities:
Property and Equipment Purchases Included in Accrued Liabilities	$	2,675	$	—

INVENTORIES (Tables)

9 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories are stated at the lower of average cost (including applicable material, labor, depreciation, and plant overhead) or net realizable value, and consist of the following:

	December 31,		March 31,
	2019		2019
	(dollars in thousands)
Raw Materials and Materials-in-Progress	$	93,865	$	125,828
Finished Cement		24,673		27,826
Aggregates		7,588		7,351
Gypsum Wallboard		4,881		7,124
Paperboard		11,638		15,660
Frac Sand		529		2,557
Repair Parts and Supplies		81,445		80,676
Fuel and Coal		9,645		8,172
	$	234,264	$	275,194

ACCRUED EXPENSES (Tables)

9 Months Ended

Dec. 31, 2019

Payables And Accruals [Abstract]

Schedule of Accrued Expenses

Accrued Expenses consist of the following:

	December 31,		March 31,
	2019		2019
	(dollars in thousands)
Payroll and Incentive Compensation	$	27,548	$	26,225
Benefits		13,272		12,673
Interest		6,606		3,852
Property Taxes		4,745		5,058
Power and Fuel		1,635		1,644
Litigation Settlements		—		1,900
Sales and Use Tax		1,130		2,167
Legal and Professional		5,870		—
Other		6,864		8,430
	$	67,670	$	61,949

LEASES (Tables)

9 Months Ended

Dec. 31, 2019

Leases [Abstract]

Schedule of Lease Expense for Operating and Short-Term Leases

Lease expense for our operating and short-term leases is as follows:


	For the Three Months Ended December 31, 2019		For the Nine Months Ended December 31, 2019
	(dollars in thousands)
Operating Lease Cost	$	3,730	$	11,639
Short-term Lease Cost		228		1,310
Total Lease Cost	$	3,958	$	12,949

Schedule of Balance Sheet Information Related to Leases

The Right-of-Use Assets and Lease Liabilities are reflected on our Balance Sheet as follows:


	For the Nine Months Ended December 31, 2019
	(dollars in thousands)
Operating Leases:
Operating Lease Right-of-Use Assets	$	29,346

Current Operating Lease Liabilities	$	10,601
Noncurrent Operating Lease Liabilities		51,939
Total Operating Lease Liabilities	$	62,540

Schedule of Future Payments for Operating Leases

Future payments for operating leases are as follows:


	Amount
Fiscal Year	(dollars in thousands)
2020 (remaining three months)	$	3,318
2021		11,931
2022		10,618
2023		10,131
2024		8,585
Thereafter		30,945
Total Lease Payments	$	75,528
Less: Imputed Interest		(12,988	)
Present Value of Lease Liabilities	$	62,540

Weighted Average Remaining Lease Term (in years)		9.2
Weighted Average Discount Rate		3.75	%

Schedule of Future Minimum Lease Payments

As disclosed in our March 31, 2019 Form 10-K, future minimum lease payments were as follows:


	Amount
Fiscal Year	(dollars in thousands)
2020	$	14,613
2021		11,487
2022		9,979
2023		9,784
2024		8,347
Thereafter		24,793
Total Lease Payments	$	79,003

SHARE-BASED EMPLOYEE COMPENSATION (Tables)

9 Months Ended

Dec. 31, 2019

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Weighted-Average Assumptions Used to Value Option Awards

The weighted average assumptions used in the Black-Scholes model to value the option awards in fiscal 2020 are as follows:


Dividend Yield		1.3	%
Expected Volatility		31.4	%
Risk Free Interest Rate		2.32	%
Expected Life	6.0 years

Stock Option Activity

The following table represents stock option activity for the nine months ended December 31, 2019:

	Number of Shares			Weighted Average Exercise Price
Outstanding Options at Beginning of Year		1,042,925		$	76.88
Granted		184,892		$	91.58
Exercised		(57,255	)	$	87.99
Cancelled		(7,883	)	$	102.69
Outstanding Options at December 31, 2019		1,162,679		$	80.25
Options Exercisable at December 31, 2019		732,860		$	73.27
Weighted Average Fair Value of Options Granted During the Year				$	27.37

Stock Options Outstanding

The following table summarizes information about stock options outstanding at December 31, 2019:

	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number of Shares Outstanding		Weighted Average Remaining Contractual Life (in years)		Weighted Average Exercise Price		Number of Shares Outstanding		Weighted Average Exercise Price
$23.17 - $29.84		65,912		1.60	$	23.27		65,912	$	23.27
$33.43 - $37.34		57,728		2.46	$	34.03		57,728	$	34.03
$53.22 - $77.67		272,834		5.53	$	72.22		201,712	$	71.84
$79.73 - $106.24		766,205		6.99	$	91.49		407,508	$	87.63
		1,162,679		6.12	$	80.25		732,860	$	73.27

Summary of Activity for Nonvested Restricted Shares

	Number of Shares			Weighted Average Grant Date Fair Value
Restricted Stock Beginning of Year		300,115		$	78.94
Granted		118,292		$	90.08
Vested		(83,307	)	$	95.01
Forfeited		(15,940	)	$	58.64
Nonvested Restricted Stock at December 31, 2019		319,160

COMPUTATION OF EARNINGS PER SHARE (Tables)

9 Months Ended

Dec. 31, 2019

Earnings Per Share [Abstract]

Calculation of Basic and Diluted Common Shares Outstanding

The calculation of basic and diluted common shares outstanding is as follows:

	For the Three Months Ended December 31,					For the Nine Months Ended December 31,
	2019		2018			2019		2018
Weighted Average Shares of Common Stock Outstanding		41,314,289		46,275,198			42,246,329		47,059,408
Effect of Dilutive Shares:
Assumed Exercise of Outstanding Dilutive Options		—		268,283			—		629,968
Less Shares Repurchased from Proceeds of Assumed Exercised Options		—		(171,402	)		—		(442,898	)
Restricted Stock Units		—		123,915			—		156,793
Weighted Average Common Stock and Dilutive Securities Outstanding		41,314,289		46,495,994			42,246,329		47,403,271
Shares Excluded Due to Anti-dilution Effects		655,889		756,035			657,964		360,976

PENSION AND EMPLOYEE BENEFIT PLANS (Tables)

9 Months Ended

Dec. 31, 2019

Compensation And Retirement Disclosure [Abstract]

Components of Net Periodic Cost

The following table shows the components of net periodic cost for our plans:

	For the Three Months Ended December 31,						For the Nine Months Ended December 31,
	2019			2018			2019			2018
	(dollars in thousands)
Service Cost - Benefits Earned During the Period	$	85		$	100		$	255		$	300
Interest Cost of Projected Benefit Obligation		338			337			1,013			1,011
Expected Return on Plan Assets		(426	)		(463	)		(1,279	)		(1,389	)
Recognized Net Actuarial Loss		43			58			131			174
Amortization of Prior-Service Cost		—			15			—			45
Net Periodic Pension Cost	$	40		$	47		$	120		$	141

LONG-TERM DEBT (Tables)

9 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Long-Term Debt

Long-term Debt consists of the following:

	December 31,			March 31,
	2019			2019
	(dollars in thousands)
Bank Credit Facility	$	585,000		$	310,000
4.500% Senior Unsecured Notes Due 2026		350,000			350,000
Private Placement Senior Unsecured Notes		—			36,500
Total Debt		935,000			696,500
Less: Current Portion of Long-term Debt		—			(36,500	)
Less: Debt Origination Costs		(4,406	)		(4,908	)
Long-term Debt	$	930,594		$	655,092

Schedule of Senior Unsecured Notes Redemption Prices

Beginning August 1, 2021, we may redeem some or all of the Senior Unsecured Notes at the redemption prices set forth below (expressed as a percentage of the principal amount being redeemed):

	Percentage
2021		102.25	%
2022		101.50	%
2023		100.75	%
2024 and thereafter		100.00	%

SEGMENT INFORMATION (Tables)

9 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Financial Information Related to Operations by Segment

	For the Three Months Ended December 31,						For the Nine Months Ended December 31,
	2019			2018			2019			2018
	(dollars in thousands)
Revenue -
Cement	$	183,031		$	163,732		$	605,357		$	543,681
Concrete and Aggregates		47,147			30,841			142,895			111,425
Gypsum Wallboard		125,070			130,954			380,454			402,978
Paperboard		37,813			39,638			122,360			126,048
Oil and Gas Proppants		7,345			14,100			36,535			65,266
		400,406			379,265			1,287,601			1,249,398
Less: Intersegment Revenue		(21,775	)		(20,611	)		(66,454	)		(62,746	)
Less: Joint Venture Revenue		(28,382	)		(25,369	)		(85,775	)		(78,112	)
	$	350,249		$	333,285		$	1,135,372		$	1,108,540

	For the Three Months Ended December 31,				For the Nine Months Ended December 31,
	2019		2018		2019		2018
	(dollars in thousands)
Intersegment Revenue -
Cement	$	6,174	$	3,518	$	17,130	$	11,769
Concrete and Aggregates		350		346		1,134		1,178
Paperboard		15,251		16,747		48,190		49,799
	$	21,775	$	20,611	$	66,454	$	62,746
Cement Sales Volume (M tons) -
Wholly Owned		1,199		1,126		4,046		3,740
Joint Venture		240		218		721		672
		1,439		1,344		4,767		4,412

	For the Three Months Ended December 31,						For the Nine Months Ended December 31,
	2019			2018			2019			2018
	(dollars in thousands)
Operating Earnings (Loss) -
Cement	$	54,180		$	47,197		$	156,827		$	142,078
Concrete and Aggregates		3,334			1,037			15,023			10,621
Gypsum Wallboard		38,484			43,543			114,872			139,694
Paperboard		9,021			7,475			29,060			26,078
Oil and Gas Proppants		(6,805	)		(9,324	)		(15,944	)		(19,554	)
Sub-Total		98,214			89,928			299,838			298,917
Corporate General and Administrative Expense		(13,794	)		(9,408	)		(48,506	)		(27,333	)
Impairment Losses		(224,267	)		—			(224,267	)		—
Litigation Settlements and Losses		—			—			—			(1,800	)
Other Non-Operating Income		825			1,292			1,967			2,291
Earnings (Loss) Before Interest and Income Taxes		(139,022	)		81,812			29,032			272,075
Interest Expense, net		(9,543	)		(7,294	)		(28,526	)		(20,743	)
Earnings (Loss) Before Income Taxes	$	(148,565	)	$	74,518		$	506		$	251,332
Cement Operating Earnings -
Wholly Owned	$	43,480		$	37,690		$	124,338		$	113,147
Joint Ventures		10,700			9,507			32,489			28,931
	$	54,180		$	47,197		$	156,827		$	142,078
Capital Expenditures -
Cement	$	7,379		$	17,691		$	26,125		$	51,524
Concrete and Aggregates		3,233			2,263			9,324			4,786
Gypsum Wallboard		273			2,054			8,647			8,533
Paperboard		12,885			1,486			42,484			7,896
Oil and Gas Proppants		86			5,818			151			48,684
Corporate and Other		—			3,690			—			5,023
	$	23,856		$	33,002		$	86,731		$	126,446
Depreciation, Depletion, and Amortization -
Cement	$	14,189		$	13,242		$	42,275		$	38,909
Concrete and Aggregates		3,105			2,049			8,050			6,154
Gypsum Wallboard		5,050			4,978			15,149			15,009
Paperboard		2,244			2,150			6,610			6,387
Oil and Gas Proppants		3,445			6,964			11,087			24,403
Corporate and Other		578			402			1,773			1,099
	$	28,611		$	29,785		$	84,944		$	91,961

	December 31,		March 31,
	2019		2019
	(dollars in thousands)
Identifiable Assets
Cement	$	1,282,081	$	1,289,468
Concrete and Aggregates		139,769		95,084
Gypsum Wallboard		367,833		372,206
Paperboard		169,508		138,614
Oil and Gas Proppants		18,029		236,357
Corporate and Other, net		153,005		37,434
	$	2,130,225	$	2,169,163

Segment Breakdown of Goodwill

The segment breakdown of Goodwill is as follows:

	December 31,		March 31,
	2019		2019
	(dollars in thousands)
Cement	$	74,214	$	74,214
Gypsum Wallboard		116,618		116,618
Paperboard		7,538		7,538
Concrete and Aggregates		1,639		—
	$	200,009	$	198,370

Summarized Financial Information for Joint Venture Unconsolidated

	For the Three Months Ended December 31,				For the Nine Months Ended December 31,
	2019		2018		2019		2018
	(dollars in thousands)
Revenue	$	56,767	$	51,411	$	172,385	$	158,922
Gross Margin	$	22,749	$	20,178	$	68,806	$	62,196
Earnings Before Income Taxes	$	21,402	$	19,013	$	64,979	$	57,862

	December 31,		March 31,
	2019		2019
	(dollars in thousands)
Current Assets	$	80,108	$	71,688
Non-Current Assets	$	88,242	$	81,007
Current Liabilities	$	19,190	$	19,309

INTEREST EXPENSE (Tables)

9 Months Ended

Dec. 31, 2019

Banking And Thrift Interest [Abstract]

Interest Expense, Net

The following components are included in Interest Expense, net:

	For the Three Months Ended December 31,						For the Nine Months Ended December 31,
	2019			2018			2019			2018
	(dollars in thousands)
Interest Income		(12	)	$	(7	)		(23	)	$	(119	)
Interest Expense		9,250			7,022			27,682			20,024
Other Expenses		305			279			867			838
Interest Expense, net	$	9,543		$	7,294		$	28,526		$	20,743

FINANCIAL STATEMENTS FOR GUARANTORS OF THE 4.500% SENIOR UNSECURED NOTES (Tables)

9 Months Ended

Dec. 31, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Condensed Consolidating Statement of Earnings and Comprehensive Earnings

Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Three Months Ended December 31, 2019	Parent			Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	350,249		$	—		$	350,249
Cost of Goods Sold		—			262,735			—			262,735
Gross Profit		—			87,514			—			87,514
Equity in Earnings of Unconsolidated Joint Venture		10,700			10,700			(10,700	)		10,700
Equity in Earnings of Subsidiaries		(88,687	)		—			88,687			—
Corporate General and Administrative Expenses		(13,359	)		(435	)		—			(13,794	)
Impairment Losses		—			(224,267	)		—			(224,267	)
Other Non-Operating Income		118			707			—			825
Interest Expense, net		(9,532	)		(11	)		—			(9,543	)
Earnings before Income Taxes		(100,760	)		(125,792	)		77,987			(148,565	)
Income Taxes		(13,872	)		47,805			—			33,933
Net Earnings	$	(114,632	)	$	(77,987	)	$	77,987		$	(114,632	)
Net Earnings	$	(114,632	)	$	(77,987	)	$	77,987		$	(114,632	)
Net Actuarial Change in Benefit Plans, net of tax		33			33			(33	)		33
Comprehensive Earnings	$	(114,599	)	$	(77,954	)	$	77,954		$	(114,599	)

Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Three Months Ended December 31, 2018	Parent			Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	333,285		$	—		$	333,285
Cost of Goods Sold		—			252,864			—			252,864
Gross Profit		—			80,421			—			80,421
Equity in Earnings of Unconsolidated Joint Venture		9,507			9,507			(9,507	)		9,507
Equity in Earnings of Subsidiaries		61,946			—			(61,946	)		—
Corporate General and Administrative Expenses		(8,863	)		(545	)		—			(9,408	)
Other Non-Operating Income		(43	)		1,335			—			1,292
Interest Expense, net		(7,282	)		(12	)		—			(7,294	)
Earnings before Income Taxes		55,265			90,706			(71,453	)		74,518
Income Taxes		2,450			(19,253	)		—			(16,803	)
Net Earnings	$	57,715		$	71,453		$	(71,453	)	$	57,715
Net Earnings	$	57,715		$	71,453		$	(71,453	)		57,715
Net Actuarial Change in Benefit Plans, net of tax		56			56			(56	)		56
Comprehensive Earnings	$	57,771		$	71,509		$	(71,509	)	$	57,771

Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Nine Months Ended December 31, 2019	Parent			Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	1,135,372		$	—		$	1,135,372
Cost of Goods Sold		—			868,023			—			868,023
Gross Profit		—			267,349			—			267,349
Equity in Earnings of Unconsolidated Joint Venture		32,489			32,489			(32,489	)		32,489
Equity in Earnings of Subsidiaries		47,036			—			(47,036	)		—
Corporate General and Administrative Expenses		(47,285	)		(1,221	)		—			(48,506	)
Impairment Losses		—			(224,267	)		—			(224,267	)
Other Non-Operating Income		525			1,442			—			1,967
Interest Expense, net		(28,490	)		(36	)		—			(28,526	)
Earnings before Income Taxes		4,275			75,756			(79,525	)		506
Income Taxes		(5,810	)		3,769			—			(2,041	)
Net Earnings	$	(1,535	)	$	79,525		$	(79,525	)	$	(1,535	)
Net Earnings	$	(1,535	)	$	79,525		$	(79,525	)	$	(1,535	)
Net Actuarial Change in Benefit Plans, net of tax		101			101			(101	)		101
Comprehensive Earnings	$	(1,434	)	$	79,626		$	(79,626	)	$	(1,434	)

Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Nine Months Ended December 31, 2018	Parent			Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	1,108,540		$	—		$	1,108,540
Cost of Goods Sold		—			838,554			—			838,554
Gross Profit		—			269,986			—			269,986
Equity in Earnings of Unconsolidated Joint Venture		28,931			28,931			(28,931	)		28,931
Equity in Earnings of Subsidiaries		204,234			—			(204,234	)		—
Corporate General and Administrative Expenses		(24,682	)		(2,651	)		—			(27,333	)
Legal Settlements		—			(1,800	)		—			(1,800	)
Other Non-Operating Income		(262	)		2,553			—			2,291
Interest Expense, net		(20,706	)		(37	)		—			(20,743	)
Earnings before Income Taxes		187,515			296,982			(233,165	)		251,332
Income Taxes		9,142			(63,817	)		—			(54,675	)
Net Earnings	$	196,657		$	233,165		$	(233,165	)	$	196,657
Net Earnings	$	196,657		$	233,165		$	(233,165	)		196,657
Net Actuarial Change in Benefit Plans, net of tax		168			168			(168	)		168
Comprehensive Earnings	$	196,825		$	233,333		$	(233,333	)	$	196,825

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet At December 31, 2019	Parent		Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current Assets -
Cash and Cash Equivalents	$	124,084	$	2,171		$	—		$	126,255
Accounts and Notes Receivable		439		139,844			—			140,283
Inventories		—		234,264			—			234,264
Prepaid and Other Current Assets		1,371		5,626			—			6,997
Total Current Assets		125,894		381,905			—			507,799
Property, Plant, and Equipment, net		6,884		1,262,849			—			1,269,733
Notes Receivable		—		9,192			—			9,192
Investment in Joint Venture		70		71,792			—			71,862
Investments in Subsidiaries and Receivables from Affiliates		2,074,575		322,106			(2,396,681	)		—
Operating Lease Right-of-Use Assets		9,975		19,371			—			29,346
Goodwill and Intangible Assets, net		—		230,099			—			230,099
Other Assets		5,844		6,350			—			12,194
	$	2,223,242	$	2,303,664		$	(2,396,681	)	$	2,130,225
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities-
Accounts Payable	$	6,572	$	58,463		$	—		$	65,035
Accrued Liabilities		27,114		40,556			—			67,670
Income Taxes Payable		20,020		—			—			20,020
Operating Lease Liabilities		1,162		9,439			—			10,601
Total Current Liabilities		54,868		108,458			—			163,326
Long-term Debt		930,594		—			—			930,594
Noncurrent Lease Liabilities		12,538		39,401			—			51,939
Other Long-term Liabilities		—		36,648			—			36,648
Payables to Affiliates		322,106		6,010,080			(6,332,186	)		—
Deferred Income Taxes		5,809		44,582			—			50,391
Total Liabilities		1,325,915		6,239,169			(6,332,186	)		1,232,898
Total Stockholders’ Equity		897,327		(3,935,505	)		3,935,505			897,327
	$	2,223,242	$	2,303,664		$	(2,396,681	)	$	2,130,225

Condensed Consolidating Balance Sheet At March 31, 2019	Parent		Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current Assets -
Cash and Cash Equivalents	$	5,779	$	2,822		$	—		$	8,601
Accounts and Notes Receivable		437		128,285			—			128,722
Inventories		—		275,194			—			275,194
Income Tax Receivables		5,480		—			—			5,480
Prepaid and Other Current Assets		1,472		8,152			—			9,624
Total Current Assets		13,168		414,453			—			427,621
Property, Plant, and Equipment, net		7,756		1,419,183			—			1,426,939
Notes Receivable		—		2,898			—			2,898
Investment in Joint Venture		70		64,803			—			64,873
Investments in Subsidiaries and Receivables from Affiliates		2,322,334		406,726			(2,729,060	)		—
Goodwill and Intangible Assets, net		—		229,115			—			229,115
Other Assets		4,571		13,146			—			17,717
	$	2,347,899	$	2,550,324		$	(2,729,060	)	$	2,169,163
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities-
Accounts Payable	$	5,520	$	75,364		$	—		$	80,884
Accrued Liabilities		22,470		39,479			—			61,949
Current Portion of Long-term Debt		36,500		—			—			36,500
Total Current Liabilities		64,490		114,843			—			179,333
Long-term Debt		655,092		—			—			655,092
Other Long-term Liabilities		3,303		31,189			—			34,492
Payables to Affiliates		406,726		5,730,093			(6,136,819	)		—
Deferred Income Taxes		8,801		81,958			—			90,759
Total Liabilities		1,138,412		5,958,083			(6,136,819	)		959,676
Total Stockholders’ Equity		1,209,487		(3,407,759	)		3,407,759			1,209,487
	$	2,347,899	$	2,550,324		$	(2,729,060	)	$	2,169,163

Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows For the Nine Months Ended December 31, 2019	Parent			Guarantor Subsidiaries			Eliminations		Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	$	(32,804	)	$	353,423		$	—	$	320,619
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment		—			(84,056	)		—		(84,056	)
Acquisition Spending		—			(30,424	)		—		(30,424	)
Net Cash Used in Investing Activities		—			(114,480	)		—		(114,480	)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase in Credit Facility		275,000			—			—		275,000
Repayment of Private Placement Senior Unsecured Notes		(36,500	)							(36,500	)
Dividends Paid to Stockholders		(13,131	)		—			—		(13,131	)
Purchase and Retirement of Common Stock		(313,887	)		—			—		(313,887	)
Proceeds from Stock Option Exercises		2,996			—			—		2,996
Shares Redeemed to Settle Employee Taxes on Stock Compensation		(2,963	)		—			—		(2,963	)
Intra-entity Activity, net		239,594			(239,594	)		—		—
Net Cash Provided by (Used in) Financing Activities		151,109			(239,594	)		—		(88,485	)
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH		118,305			(651	)		—		117,654
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD		5,779			2,822			—		8,601
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$	124,084		$	2,171		$	—	$	126,255

Condensed Consolidating Statement of Cash Flows For the Nine Months Ended December 31, 2018	Parent			Guarantor Subsidiaries			Eliminations		Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	$	(68,752	)	$	362,852		$	—	$	294,100
CASH FLOWS FROM INVESTING ACTIVITIES
Property, Plant, and Equipment Additions		(5,023	)		(121,423	)		—		(126,446	)
Proceeds from Sale of Property, Plant, and Equipment		—			2,281					2,281
Net Cash Used in Investing Activities		(5,023	)		(119,142	)		—		(124,165	)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of Credit Facility		5,000			—			—		5,000
Dividends Paid to Stockholders		(14,293	)		—			—		(14,293	)
Purchase and Retirement of Common Stock		(191,800	)		—			—		(191,800	)
Proceeds from Stock Option Exercises		1,992			—			—		1,992
Shares Redeemed to Settle Employee Taxes on Stock Compensation		(1,842	)		—			—		(1,842	)
Intra-entity Activity, net		245,683			(245,683	)		—		—
Net Cash Provided by (Used in) Financing Activities		44,740			(245,683	)		—		(200,943	)
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH		(29,035	)		(1,973	)		—		(31,008	)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD		44,537			3,531			—		48,068
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$	15,502		$	1,558		$	—	$	17,060

Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash Payments:
Interest	$ 25,490	$ 17,826
Income Taxes	20,046	$ 35,222
Operating Cash Flows used for Operating Leases	11,562
Non Cash Financing Activities:
Property and Equipment Purchases Included in Accrued Liabilities	$ 2,675

Accounts and Notes Receivable - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended
	Dec. 31, 2019	Mar. 31, 2019
Receivables [Abstract]
Allowance for doubtful accounts	$ 12.3	$ 9.9
Notes Receivable, total	9.9
Notes Receivable, current	$ 0.8
Notes Receivable interest rate	4.75%
Notes Receivable, maturity description	Remaining unpaid amounts, plus accrued interest, mature in fiscal 2025.

Schedule of Inventories (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Inventory [Line Items]
Inventories	$ 234,264	$ 275,194
Raw Materials and Material-in-Progress [Member]
Inventory [Line Items]
Inventories	93,865	125,828
Finished Cement [Member]
Inventory [Line Items]
Inventories	24,673	27,826
Aggregates [Member]
Inventory [Line Items]
Inventories	7,588	7,351
Gypsum Wallboard [Member]
Inventory [Line Items]
Inventories	4,881	7,124
Paperboard [Member]
Inventory [Line Items]
Inventories	11,638	15,660
Frac Sand [Member]
Inventory [Line Items]
Inventories	529	2,557
Repair Parts and Supplies [Member]
Inventory [Line Items]
Inventories	81,445	80,676
Fuel and Coal [Member]
Inventory [Line Items]
Inventories	$ 9,645	$ 8,172

Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Accounts Payable And Accrued Liabilities Current [Abstract]
Payroll and Incentive Compensation	$ 27,548	$ 26,225
Benefits	13,272	12,673
Interest	6,606	3,852
Property Taxes	4,745	5,058
Power and Fuel	1,635	1,644
Litigation Settlements		1,900
Sales and Use Tax	1,130	2,167
Legal and Professional	5,870
Other	6,864	8,430
Accrued Expenses, Total	$ 67,670	$ 61,949

Schedule of Future Payments for Operating Leases (Detail) $ in Thousands	Dec. 31, 2019 USD ($)
Leases [Abstract]
2020 (remaining three months)	$ 3,318
2021	11,931
2022	10,618
2023	10,131
2024	8,585
Thereafter	30,945
Total Lease Payments	75,528
Less: Imputed Interest	(12,988)
Present Value of Lease Liabilities	$ 62,540
Weighted Average Remaining Lease Term (in years)	9 years 2 months 12 days
Weighted Average Discount Rate	3.75%

Schedule of Future Minimum Lease Payments (Detail) $ in Thousands	Mar. 31, 2019 USD ($)
Leases [Abstract]
2020	$ 14,613
2021	11,487
2022	9,979
2023	9,784
2024	8,347
Thereafter	24,793
Total Lease Payments	$ 79,003

Share-Based Employee Compensation - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	May 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Aug. 31, 2019	Aug. 07, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant		3,758,359		3,758,359			3,000,000
Stock option expense		$ 1.2	$ 0.9	$ 3.5	$ 3.0
Aggregate intrinsic value for outstanding options		15.3		15.3
Aggregate intrinsic value for exercisable options		13.8		13.8
Total intrinsic value of options exercised				2.0
Restricted stock or unit expense		3.1	$ 3.1	$ 12.9	$ 8.6
Stock Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant							1,500,000
Performance Vesting Stock Options [Member] \| Long Term Compensation Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant	100,849
Reduced percentage of shares earned in stock options plan				66.70%
Stock based compensation plan, description				The performance criteria for the Fiscal 2020 Employee Performance Stock Option Grant is based upon the achievement of certain levels of return on equity (as defined in the option agreements), ranging from 10.0% to 20.0%, for the fiscal year ending March 31, 2020. All stock options will be earned if the return on equity is 20.0% or greater, and the percentage of shares earned will be reduced proportionately to approximately 66.7% if the return on equity is 10.0%. If the Company does not achieve a return on equity of at least 10.0%, all stock options granted will be forfeited.
Share-based compensation vesting period	4 years
Share-based compensation award expiration term	10 years
Performance Vesting Stock Options [Member] \| Long Term Compensation Plan [Member] \| Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of average return on invested capital	10.00%
Share-based compensation expiration date				Mar. 31, 2020
Performance Vesting Stock Options [Member] \| Long Term Compensation Plan [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of average return on invested capital	20.00%
Share-based compensation expiration date				Mar. 31, 2023
Time Vesting Stock Options [Member] \| Long Term Compensation Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant	84,043
Share-based compensation vesting period	4 years
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized compensation cost, stock options		8.4		$ 8.4
Weighted-average period of recognition of unrecognized compensation cost				2 years 7 months 6 days
Performance Vesting Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant	51,112
Stock based compensation plan, description				The performance criteria for the Fiscal 2020 Employee Restricted Stock Performance Award is based upon the achievement of certain levels of return on equity (as defined in the award agreement), ranging from 10.0% to 20.0%, for the fiscal year ending March 31, 2020. All restricted shares will be earned if the return on equity is 20.0% or greater, and the percentage of shares earned will be reduced proportionately to approximately 66.7% if the return on equity is 10.0%. If the Company does not achieve a return on equity of at least 10.0%, all awards will be forfeited.
Share-based compensation vesting period	4 years
Reduced percentage of restricted shares				66.70%
Performance Vesting Restricted Stock [Member] \| Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of average return on invested capital	10.00%
Share-based compensation vesting date				Mar. 31, 2020
Performance Vesting Restricted Stock [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of average return on invested capital	20.00%
Share-based compensation vesting date				Mar. 31, 2022
Time Vesting Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant	42,591
Share-based compensation vesting period	4 years
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant						24,589
Weighted-average period of recognition of unrecognized compensation cost				2 years 1 month 6 days
Unrecognized compensation cost		$ 15.4		$ 15.4

Weighted-Average Assumptions Used to Value Option Awards (Detail) - Long Term Compensation Plan [Member] - Stock Options [Member]	9 Months Ended
	Dec. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend Yield	1.30%
Expected Volatility	31.40%
Risk Free Interest Rate	2.32%
Expected Life	6 years

Stock Option Activity (Detail)	9 Months Ended
Stock Option Activity (Detail)	Dec. 31, 2019 $ / shares shares
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Shares, Outstanding Options at Beginning of Year \| shares	1,042,925
Number of Shares, Granted \| shares	184,892
Number of Shares, Exercised \| shares	(57,255)
Number of Shares, Cancelled \| shares	(7,883)
Number of Shares, Outstanding Options at December 31, 2019 \| shares	1,162,679
Number of Shares, Options Exercisable at December 31, 2019 \| shares	732,860
Weighted-Average Exercise Price, Outstanding Options at Beginning of Year	$ 76.88
Weighted-Average Exercise Price, Granted	91.58
Weighted-Average Exercise Price, Exercised	87.99
Weighted-Average Exercise Price, Cancelled	102.69
Weighted-Average Exercise Price, Outstanding Options at December 31, 2019	80.25
Weighted-Average Exercise Price, Options Exercisable at December 31, 2019	73.27
Weighted Average Fair Value of Options Granted During the Year	$ 27.37

Stock Options Outstanding (Detail)	9 Months Ended
Stock Options Outstanding (Detail)	Dec. 31, 2019 $ / shares shares
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Options Outstanding, Number of Shares Outstanding \| shares	1,162,679
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	6 years 1 month 13 days
Options Outstanding, Weighted-Average Exercise Price	$ 80.25
Options Exercisable , Number of Shares Outstanding \| shares	732,860
Options Exercisable, Weighted-Average Exercise Price	$ 73.27
$23.17 - $29.84 [Member]
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Range	23.17
Range of Exercise Prices, Upper Range	$ 29.84
Options Outstanding, Number of Shares Outstanding \| shares	65,912
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	1 year 7 months 6 days
Options Outstanding, Weighted-Average Exercise Price	$ 23.27
Options Exercisable , Number of Shares Outstanding \| shares	65,912
Options Exercisable, Weighted-Average Exercise Price	$ 23.27
$33.43 - $ 37.34 [Member]
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Range	33.43
Range of Exercise Prices, Upper Range	$ 37.34
Options Outstanding, Number of Shares Outstanding \| shares	57,728
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	2 years 5 months 16 days
Options Outstanding, Weighted-Average Exercise Price	$ 34.03
Options Exercisable , Number of Shares Outstanding \| shares	57,728
Options Exercisable, Weighted-Average Exercise Price	$ 34.03
$53.22 - $ 77.67 [Member]
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Range	53.22
Range of Exercise Prices, Upper Range	$ 77.67
Options Outstanding, Number of Shares Outstanding \| shares	272,834
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	5 years 6 months 11 days
Options Outstanding, Weighted-Average Exercise Price	$ 72.22
Options Exercisable , Number of Shares Outstanding \| shares	201,712
Options Exercisable, Weighted-Average Exercise Price	$ 71.84
$79.73 - $ 106.24 [Member]
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Range	79.73
Range of Exercise Prices, Upper Range	$ 106.24
Options Outstanding, Number of Shares Outstanding \| shares	766,205
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	6 years 11 months 27 days
Options Outstanding, Weighted-Average Exercise Price	$ 91.49
Options Exercisable , Number of Shares Outstanding \| shares	407,508
Options Exercisable, Weighted-Average Exercise Price	$ 87.63

Summary of Activity for Nonvested Restricted Shares (Detail) - Restricted Stock [Member]	9 Months Ended
	Dec. 31, 2019 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Nonvested at Beginning of Year	300,115
Number of Shares, Granted	118,292
Number of Shares, Vested	(83,307)
Number of Shares, Forfeited	(15,940)
Number of Shares, Nonvested Restricted Stock at December 31, 2019	319,160
Weighted Average Grant Date Fair Value, Beginning of Year \| $ / shares	$ 78.94
Weighted Average Grant Date Fair Value, Granted \| $ / shares	90.08
Weighted Average Grant Date Fair Value, Vested \| $ / shares	95.01
Weighted Average Grant Date Fair Value, Forfeited \| $ / shares	$ 58.64

Calculation of Basic and Diluted Common Shares Outstanding (Detail) - shares	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Weighted Average Shares of Common Stock Outstanding	41,314,289	46,275,198	42,246,329	47,059,408
Assumed Exercise of Outstanding Dilutive Options		268,283		629,968
Less Shares Repurchased from Proceeds of Assumed Exercised Options		(171,402)		(442,898)
Restricted Stock Units		123,915		156,793
Weighted Average Common Stock and Dilutive Securities Outstanding	41,314,289	46,495,994	42,246,329	47,403,271
Shares Excluded Due to Anti-dilution Effects	655,889	756,035	657,964	360,976

Components of Net Periodic Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Compensation And Retirement Disclosure [Abstract]
Service Cost - Benefits Earned During the Period	$ 85	$ 100	$ 255	$ 300
Interest Cost of Projected Benefit Obligation	338	337	1,013	1,011
Expected Return on Plan Assets	(426)	(463)	(1,279)	(1,389)
Recognized Net Actuarial Loss	43	58	131	174
Amortization of Prior-Service Cost		15		45
Net Periodic Pension Cost	$ 40	$ 47	$ 120	$ 141

Long-Term Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019	Aug. 02, 2016
Debt Instrument [Line Items]
Bank Credit Facility	$ 585,000	$ 310,000
Total Debt	935,000	696,500
Less: Current Portion of Long-term Debt		(36,500)
Less: Debt Origination Costs	(4,406)	(4,908)
Long-term Debt	930,594	655,092
4.500% Senior Unsecured Notes Due 2026 [Member]
Debt Instrument [Line Items]
Total Debt	$ 350,000	350,000	$ 350,000
Private Placement Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Total Debt		$ 36,500

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Long-Term Debt - Additional Information (Detail) - USD ($)					9 Months Ended
	Dec. 20, 2019	Oct. 02, 2019	Aug. 02, 2016	Oct. 31, 2014	Dec. 31, 2019	Mar. 31, 2019
Debt Instrument [Line Items]
Bank Credit Facility, borrowings available					$ 158,100,000
Interest coverage ratio				250.00%
Borrowings outstanding under Credit Facility					585,000,000	$ 310,000,000
Letter of Credit Facility					40,000,000.0
Outstanding letters of credit , amount					6,900,000
Debt instrument, principal amount					935,000,000	696,500,000
Repayments of Debt					$ 36,500,000
Minimum [Member]
Debt Instrument [Line Items]
Unused line of credit commitment fee based on leverage ratio				0.15%
Maximum [Member]
Debt Instrument [Line Items]
Unused line of credit commitment fee based on leverage ratio				0.30%
December 31,2019 and June 30,2020 [Member]
Debt Instrument [Line Items]
Debt Instrument, Convertible, Earliest Date				Dec. 31, 2019
Debt Instrument, Convertible, Latest Date				Jun. 30, 2020
December 31,2019 and June 30,2020 [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Consolidated funded indebtedness ratio				400.00%
September 30,2020 and December 31,2020 [Member]
Debt Instrument [Line Items]
Debt Instrument, Convertible, Earliest Date				Sep. 30, 2020
Debt Instrument, Convertible, Latest Date				Dec. 31, 2020
September 30,2020 and December 31,2020 [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Consolidated funded indebtedness ratio				375.00%
After december 31,2020 [Member]
Debt Instrument [Line Items]
Debt Instrument, Convertible, Earliest Date				Dec. 31, 2020
After december 31,2020 [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Consolidated funded indebtedness ratio				350.00%
London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Variable margin				1.25%
London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Variable margin				2.00%
Federal Funds Effective Swap Rate [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Variable margin				0.25%
Federal Funds Effective Swap Rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Variable margin				1.00%
Term Loan Agreement [Member]
Debt Instrument [Line Items]
Credit Facility, interest rate description					Borrowings under the Term Loan Agreement will bear interest, at our option, at a floating rate per annum equal to either the alternate base rate (consistent with the Amended Credit Facility), plus a margin between 25 and 100 basis points, or based on the adjusted LIBOR plus a margin between 125 and 200 basis points, depending on the ratio of our consolidated indebtedness to consolidated EBITDA (consistent with the Amended Credit Facility). We must also maintain a ratio of consolidated indebtedness to consolidated EBITDA consistent with the Amended Credit Facility.
Term loan facility, unused borrowing capacity, Amount	$ 665,000,000.0
Term loan borrowing, Amount					$ 0
Term loan Maturity Date					Aug. 02, 2021
Term Loan Agreement [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Variable margin	0.25%
Term Loan Agreement [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Variable margin	1.00%
Term Loan Agreement [Member] \| Federal Funds Effective Swap Rate [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Consolidated funded indebtedness ratio	1.25%
Term Loan Agreement [Member] \| Federal Funds Effective Swap Rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Consolidated funded indebtedness ratio	2.00%
4.500% Senior Unsecured Notes Due 2026 [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount			$ 350,000,000.0		$ 350,000,000	350,000,000
Debt instrument, interest rate			4.50%		4.50%
Debt instrument, maturity period			2026-08
4.500% Senior Unsecured Notes Due 2026 [Member] \| Prior to August 1, 2021 [Member]
Debt Instrument [Line Items]
Redemption price, percentage			100.00%
Private Placement Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount						$ 36,500,000
Repayments of Debt		$ 36,500,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility, principal balance					$ 500,000,000.0
Bank Credit Facility, borrowings available					$ 750,000,000.0
Credit Facility, termination date					Aug. 02, 2021
Credit Facility, interest rate description					At our option, outstanding principal amounts on the Amended Credit Facility bear interest at a variable rate equal to either (i) the LIBOR plus an agreed margin (ranging from 125 to 200 basis points), which is to be established quarterly based on the Company's ratio of consolidated EBITDA, defined as earnings before interest, taxes, depreciation, and amortization, to the Company's consolidated indebtedness (the Leverage Ratio); or (ii) an alternate base rate, which is the highest of (a) the prime rate, (b) the federal funds rate plus ½% per annum, or (c) one month LIBOR plus 1.0%, in each case plus an agreed margin (ranging from 25 to 100 basis points). In the case of loans bearing interest at a rate based on the alternate base rate, interest payments are payable quarterly. In the case of loans bearing interest at a rate based on LIBOR, interest is payable at the end of the LIBOR advance periods, which can be up to six months at the option of the Company. The Company is also required to pay a commitment fee on unused available borrowings under the Amended Credit Facility ranging from 15 to 30 basis points depending upon the Leverage Ratio.
Revolving Credit Facility [Member] \| Swingline Loan [Member]
Debt Instrument [Line Items]
Credit Facility, principal balance					$ 25,000,000.0
Line of Credit \| Federal Funds Effective Swap Rate [Member]
Debt Instrument [Line Items]
Variable margin				0.50%
Letter of Credit [Member]
Debt Instrument [Line Items]
Bank Credit Facility, one-time fee					0.125%

Segment Information - Additional Information (Detail) $ in Millions	9 Months Ended
	Dec. 31, 2019 USD ($) Location Facility Terminal Plant Sector Segment
Segment Reporting [Abstract]
Number of sectors \| Sector	3
Number of reportable business segments \| Segment	5
Cement plant locations \| Location	7
Slag grinding facility \| Facility	1
Cement distribution terminals \| Terminal	19
Gypsum wallboard plants \| Plant	5
Readymix concrete batch plants \| Plant	25
Aggregates processing plants \| Plant	5
Number of frac sand processing facilities \| Facility	2
Number of frac sand drying facilities \| Facility	4
Number of frac sand trans-load locations \| Location	5
Proportionate consolidation of share of Joint Venture's revenues and operating earnings	50.00%
Accrued capital expenditures \| $	$ 2.7

Financial Information Related to Operations by Segment (Detail) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019 USD ($) kT	Dec. 31, 2018 USD ($) kT	Dec. 31, 2019 USD ($) kT	Dec. 31, 2018 USD ($) kT	Mar. 31, 2019 USD ($)
Segment Reporting Information [Line Items]
Revenue	$ 350,249	$ 333,285	$ 1,135,372	$ 1,108,540
Less: Joint Venture Revenue	(28,382)	(25,369)	(85,775)	(78,112)
Operating Earnings	98,214	89,928	299,838	298,917
Corporate General and Administrative Expense	(13,794)	(9,408)	(48,506)	(27,333)
Impairment Losses	(224,267)		(224,267)
Litigation Settlements and Losses				(1,800)
Other Non-Operating Income	825	1,292	1,967	2,291
Earnings (Loss) Before Interest and Income Taxes	(139,022)	81,812	29,032	272,075
Interest Expense, Net	(9,543)	(7,294)	(28,526)	(20,743)
Earnings (Loss) before Income Taxes	(148,565)	74,518	506	251,332
Capital Expenditures	23,856	33,002	86,731	126,446
Depreciation, Depletion, and Amortization	28,611	29,785	84,944	91,961
Identifiable Assets	2,130,225		2,130,225		$ 2,169,163
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	400,406	379,265	1,287,601	1,249,398
Operating Earnings	54,180	47,197	156,827	142,078
Operating Segments [Member] \| Wholly-Owned [Member]
Segment Reporting Information [Line Items]
Operating Earnings	43,480	37,690	124,338	113,147
Operating Segments [Member] \| Joint Venture [Member]
Segment Reporting Information [Line Items]
Operating Earnings	10,700	9,507	32,489	28,931
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	(21,775)	(20,611)	(66,454)	(62,746)
Cement [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	$ 183,031	$ 163,732	$ 605,357	$ 543,681
Cement Sales Volume \| kT	1,439	1,344	4,767	4,412
Operating Earnings	$ 54,180	$ 47,197	$ 156,827	$ 142,078
Capital Expenditures	7,379	17,691	26,125	51,524
Depreciation, Depletion, and Amortization	14,189	$ 13,242	42,275	$ 38,909
Identifiable Assets	$ 1,282,081		$ 1,282,081		1,289,468
Cement [Member] \| Operating Segments [Member] \| Wholly-Owned [Member]
Segment Reporting Information [Line Items]
Cement Sales Volume \| kT	1,199	1,126	4,046	3,740
Cement [Member] \| Operating Segments [Member] \| Joint Venture [Member]
Segment Reporting Information [Line Items]
Cement Sales Volume \| kT	240	218	721	672
Cement [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	$ (6,174)	$ (3,518)	$ (17,130)	$ (11,769)
Concrete and Aggregates [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	47,147	30,841	142,895	111,425
Operating Earnings	3,334	1,037	15,023	10,621
Capital Expenditures	3,233	2,263	9,324	4,786
Depreciation, Depletion, and Amortization	3,105	2,049	8,050	6,154
Identifiable Assets	139,769		139,769		95,084
Concrete and Aggregates [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	(350)	(346)	(1,134)	(1,178)
Gypsum Wallboard [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	125,070	130,954	380,454	402,978
Operating Earnings	38,484	43,543	114,872	139,694
Capital Expenditures	273	2,054	8,647	8,533
Depreciation, Depletion, and Amortization	5,050	4,978	15,149	15,009
Identifiable Assets	367,833		367,833		372,206
Paperboard [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	37,813	39,638	122,360	126,048
Operating Earnings	9,021	7,475	29,060	26,078
Capital Expenditures	12,885	1,486	42,484	7,896
Depreciation, Depletion, and Amortization	2,244	2,150	6,610	6,387
Identifiable Assets	169,508		169,508		138,614
Paperboard [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	(15,251)	(16,747)	(48,190)	(49,799)
Oil and Gas Proppants [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	7,345	14,100	36,535	65,266
Operating Earnings	(6,805)	(9,324)	(15,944)	(19,554)
Capital Expenditures	86	5,818	151	48,684
Depreciation, Depletion, and Amortization	3,445	6,964	11,087	24,403
Identifiable Assets	18,029		18,029		236,357
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Capital Expenditures		3,690		5,023
Depreciation, Depletion, and Amortization	578	$ 402	1,773	$ 1,099
Identifiable Assets	$ 153,005		$ 153,005		$ 37,434

Summarized Financial Information for Joint Venture Unconsolidated (Detail) - Joint Venture [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2019
Related Party Transaction [Line Items]
Revenue	$ 56,767	$ 51,411	$ 172,385	$ 158,922
Gross Margin	22,749	20,178	68,806	62,196
Earnings Before Income Taxes	21,402	$ 19,013	64,979	$ 57,862
Current Assets	80,108		80,108		$ 71,688
Non-Current Assets	88,242		88,242		81,007
Current Liabilities	$ 19,190		$ 19,190		$ 19,309

Interest Expense, Net (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Interest Expense, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Interest Income (Expense), Net [Abstract]
Interest Income	$ (12)	$ (7)	$ (23)	$ (119)
Interest Expense	9,250	7,022	27,682	20,024
Other Expenses	305	279	867	838
Interest Expense, net	$ 9,543	$ 7,294	$ 28,526	$ 20,743

Condensed Consolidating Statement of Earnings and Comprehensive Earnings (Detail) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Dec. 31, 2019	Dec. 31, 2018
Revenue	$ 350,249			$ 333,285			$ 1,135,372	$ 1,108,540
Cost of Goods Sold	262,735			252,864			868,023	838,554
Gross Profit	87,514			80,421			267,349	269,986
Equity in Earnings of Unconsolidated Joint Venture	10,700			9,507			32,489	28,931
Corporate General and Administrative Expense	(13,794)			(9,408)			(48,506)	(27,333)
Legal Settlements								(1,800)
Impairment Losses	(224,267)						(224,267)
Other Non-Operating Income	825			1,292			1,967	2,291
Interest Expense, net	(9,543)			(7,294)			(28,526)	(20,743)
Earnings (Loss) before Income Taxes	(148,565)			74,518			506	251,332
Income Tax Benefit (Expense)	33,933			(16,803)			(2,041)	(54,675)
Net Earnings (Loss)	(114,632)	$ 71,793	$ 41,304	57,715	$ 72,603	$ 66,339	(1,535)	196,657
Net Actuarial Change in Benefit Plans, net of tax	33			56			101	168
Comprehensive Earnings (Loss)	(114,599)			57,771			(1,434)	196,825
Eliminations [Member]
Equity in Earnings of Unconsolidated Joint Venture	(10,700)			(9,507)			(32,489)	(28,931)
Equity in Earnings of Subsidiaries	88,687			(61,946)			(47,036)	(204,234)
Earnings (Loss) before Income Taxes	77,987			(71,453)			(79,525)	(233,165)
Net Earnings (Loss)	77,987			(71,453)			(79,525)	(233,165)
Net Actuarial Change in Benefit Plans, net of tax	(33)			(56)			(101)	(168)
Comprehensive Earnings (Loss)	77,954			(71,509)			(79,626)	(233,333)
Parent [Member] \| Reportable Legal Entities [Member]
Equity in Earnings of Unconsolidated Joint Venture	10,700			9,507			32,489	28,931
Equity in Earnings of Subsidiaries	(88,687)			61,946			47,036	204,234
Corporate General and Administrative Expense	(13,359)			(8,863)			(47,285)	(24,682)
Other Non-Operating Income	118			(43)			525	(262)
Interest Expense, net	(9,532)			(7,282)			(28,490)	(20,706)
Earnings (Loss) before Income Taxes	(100,760)			55,265			4,275	187,515
Income Tax Benefit (Expense)	(13,872)			2,450			(5,810)	9,142
Net Earnings (Loss)	(114,632)			57,715			(1,535)	196,657
Net Actuarial Change in Benefit Plans, net of tax	33			56			101	168
Comprehensive Earnings (Loss)	(114,599)			57,771			(1,434)	196,825
Guarantor Subsidiaries [Member] \| Reportable Legal Entities [Member]
Revenue	350,249			333,285			1,135,372	1,108,540
Cost of Goods Sold	262,735			252,864			868,023	838,554
Gross Profit	87,514			80,421			267,349	269,986
Equity in Earnings of Unconsolidated Joint Venture	10,700			9,507			32,489	28,931
Corporate General and Administrative Expense	(435)			(545)			(1,221)	(2,651)
Legal Settlements								(1,800)
Impairment Losses	(224,267)						(224,267)
Other Non-Operating Income	707			1,335			1,442	2,553
Interest Expense, net	(11)			(12)			(36)	(37)
Earnings (Loss) before Income Taxes	(125,792)			90,706			75,756	296,982
Income Tax Benefit (Expense)	47,805			(19,253)			3,769	(63,817)
Net Earnings (Loss)	(77,987)			71,453			79,525	233,165
Net Actuarial Change in Benefit Plans, net of tax	33			56			101	168
Comprehensive Earnings (Loss)	$ (77,954)			$ 71,509			$ 79,626	$ 233,333

Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018
Current Assets -
Cash and Cash Equivalents	$ 126,255			$ 8,601
Accounts and Notes Receivable	140,283			128,722
Inventories	234,264			275,194
Prepaid and Other Current Assets	6,997			9,624
Income Tax Receivable				5,480
Total Current Assets	507,799			427,621
Property, Plant, and Equipment, net	1,269,733			1,426,939
Notes Receivable	9,192			2,898
Investment in Joint Venture	71,862			64,873
Operating Lease Right-of-Use Assets	29,346
Goodwill and Intangible Assets, net	230,099			229,115
Other Assets	12,194			17,717
Total Assets	2,130,225			2,169,163
Current Liabilities -
Accounts Payable	65,035			80,884
Accrued Liabilities	67,670			61,949
Income Taxes Payable	20,020
Operating Lease Liabilities	10,601
Current Portion of Long-term Debt				36,500
Total Current Liabilities	163,326			179,333
Long-term Debt	930,594			655,092
Noncurrent Lease Liabilities	51,939
Other Long-term Liabilities	36,648			34,492
Deferred Income Taxes	50,391			90,759
Total Liabilities	1,232,898			959,676
Total Stockholders’ Equity	897,327	$ 1,010,755	$ 1,055,266	1,209,487	$ 1,420,337	$ 1,432,603	$ 1,431,479	$ 1,417,690
Liabilities and Stockholders' Equity, Total	2,130,225			2,169,163
Eliminations [Member]
Current Assets -
Investments in Subsidiaries and Receivables from Affiliates	(2,396,681)			(2,729,060)
Total Assets	(2,396,681)			(2,729,060)
Current Liabilities -
Payables to Affiliates	(6,332,186)			(6,136,819)
Total Liabilities	(6,332,186)			(6,136,819)
Total Stockholders’ Equity	3,935,505			3,407,759
Liabilities and Stockholders' Equity, Total	(2,396,681)			(2,729,060)
Parent [Member] \| Reportable Legal Entities [Member]
Current Assets -
Cash and Cash Equivalents	124,084			5,779
Accounts and Notes Receivable	439			437
Prepaid and Other Current Assets	1,371			1,472
Income Tax Receivable				5,480
Total Current Assets	125,894			13,168
Property, Plant, and Equipment, net	6,884			7,756
Investment in Joint Venture	70			70
Investments in Subsidiaries and Receivables from Affiliates	2,074,575			2,322,334
Operating Lease Right-of-Use Assets	9,975
Other Assets	5,844			4,571
Total Assets	2,223,242			2,347,899
Current Liabilities -
Accounts Payable	6,572			5,520
Accrued Liabilities	27,114			22,470
Income Taxes Payable	20,020
Operating Lease Liabilities	1,162
Current Portion of Long-term Debt				36,500
Total Current Liabilities	54,868			64,490
Long-term Debt	930,594			655,092
Noncurrent Lease Liabilities	12,538
Other Long-term Liabilities				3,303
Payables to Affiliates	322,106			406,726
Deferred Income Taxes	5,809			8,801
Total Liabilities	1,325,915			1,138,412
Total Stockholders’ Equity	897,327			1,209,487
Liabilities and Stockholders' Equity, Total	2,223,242			2,347,899
Guarantor Subsidiaries [Member] \| Reportable Legal Entities [Member]
Current Assets -
Cash and Cash Equivalents	2,171			2,822
Accounts and Notes Receivable	139,844			128,285
Inventories	234,264			275,194
Prepaid and Other Current Assets	5,626			8,152
Total Current Assets	381,905			414,453
Property, Plant, and Equipment, net	1,262,849			1,419,183
Notes Receivable	9,192			2,898
Investment in Joint Venture	71,792			64,803
Investments in Subsidiaries and Receivables from Affiliates	322,106			406,726
Operating Lease Right-of-Use Assets	19,371
Goodwill and Intangible Assets, net	230,099			229,115
Other Assets	6,350			13,146
Total Assets	2,303,664			2,550,324
Current Liabilities -
Accounts Payable	58,463			75,364
Accrued Liabilities	40,556			39,479
Operating Lease Liabilities	9,439
Total Current Liabilities	108,458			114,843
Noncurrent Lease Liabilities	39,401
Other Long-term Liabilities	36,648			31,189
Payables to Affiliates	6,010,080			5,730,093
Deferred Income Taxes	44,582			81,958
Total Liabilities	6,239,169			5,958,083
Total Stockholders’ Equity	(3,935,505)			(3,407,759)
Liabilities and Stockholders' Equity, Total	$ 2,303,664			$ 2,550,324

Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands		9 Months Ended
	Aug. 02, 2019	Dec. 31, 2019	Dec. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities		$ 320,619	$ 294,100
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment		(84,056)	(126,446)
Proceeds from Sale of Property, Plant, and Equipment			2,281
Acquisition Spending	$ (30,400)	(30,424)
Net Cash Used in Investing Activities		(114,480)	(124,165)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (Repayment) of Credit Facility		275,000	5,000
Repayment of Private Placement Senior Unsecured Notes		(36,500)
Dividends Paid to Stockholders		(13,131)	(14,293)
Purchase and Retirement of Common Stock		(313,887)	(191,800)
Proceeds from Stock Option Exercises		2,996	1,992
Shares Redeemed to Settle Employee Taxes on Stock Compensation		(2,963)	(1,842)
Net Cash Used in Financing Activities		(88,485)	(200,943)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		117,654	(31,008)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD		8,601	48,068
CASH AND CASH EQUIVALENTS AT END OF PERIOD		126,255	17,060
Parent [Member] \| Reportable Legal Entities [Member]
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities		(32,804)	(68,752)
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment			(5,023)
Net Cash Used in Investing Activities			(5,023)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (Repayment) of Credit Facility		275,000	5,000
Repayment of Private Placement Senior Unsecured Notes		(36,500)
Dividends Paid to Stockholders		(13,131)	(14,293)
Purchase and Retirement of Common Stock		(313,887)	(191,800)
Proceeds from Stock Option Exercises		2,996	1,992
Shares Redeemed to Settle Employee Taxes on Stock Compensation		(2,963)	(1,842)
Intra-entity Activity, net		239,594	245,683
Net Cash Used in Financing Activities		151,109	44,740
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		118,305	(29,035)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD		5,779	44,537
CASH AND CASH EQUIVALENTS AT END OF PERIOD		124,084	15,502
Guarantor Subsidiaries [Member] \| Reportable Legal Entities [Member]
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities		353,423	362,852
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment		(84,056)	(121,423)
Proceeds from Sale of Property, Plant, and Equipment			2,281
Acquisition Spending		(30,424)
Net Cash Used in Investing Activities		(114,480)	(119,142)
CASH FLOWS FROM FINANCING ACTIVITIES
Intra-entity Activity, net		(239,594)	(245,683)
Net Cash Used in Financing Activities		(239,594)	(245,683)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(651)	(1,973)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD		2,822	3,531
CASH AND CASH EQUIVALENTS AT END OF PERIOD		$ 2,171	$ 1,558

Basis of Presentation - Additional Information (Detail) $ in Thousands	Dec. 31, 2019 USD ($)
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Operating lease right-of-use asset	$ 29,346
Operating lease liabilities	62,540
Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Operating lease right-of-use asset	66,700
Operating lease liabilities	$ 71,100

Acquisition - Additional Information (Detail) - USD ($) $ in Thousands			9 Months Ended
	Nov. 25, 2019	Aug. 02, 2019	Dec. 31, 2019
Business Acquisition [Line Items]
Purchase price of the acquisition		$ 30,400	$ 30,424
Date of acquisition of business		Aug. 02, 2019
Kosmos Acquisition [Member]
Business Acquisition [Line Items]
Purchase price of the acquisition	$ 665,000
Date of acquisition of business	Nov. 25, 2019

Revenue - Additional Information (Detail) $ in Millions	9 Months Ended
Revenue - Additional Information (Detail) $ in Millions	Dec. 31, 2019 USD ($)
Supply Commitment [Line Items]
Revenue recognized related to shortfall provisions	$ 1.6
Minimum [Member]
Supply Commitment [Line Items]
Long-term supply agreements maturity year	2019
Revenue from contract with customer collection terms	30 days
Maximum [Member]
Supply Commitment [Line Items]
Long-term supply agreements maturity year	2025
Revenue from contract with customer collection terms	65 days

Stockholders' Equity - Additional Information (Detail)	9 Months Ended
Stockholders' Equity - Additional Information (Detail)	Dec. 31, 2019 $ / shares shares
Equity [Abstract]
Repurchase of shares	3,574,109
Shares repurchased average price \| $ / shares	$ 87.82
Stock repurchase remaining number of shares authorized to be repurchased	7,305,649

Leases - Additional Information (Detail) $ in Millions	3 Months Ended
Leases - Additional Information (Detail) $ in Millions	Dec. 31, 2019 USD ($)
Oil and Gas Proppants [Member]
Lessee Lease Description [Line Items]
Impairment related to right of use assets	$ 29.1
Minimum [Member]
Lessee Lease Description [Line Items]
Operating lease term	1 year
Maximum [Member]
Lessee Lease Description [Line Items]
Operating lease term	20 years

Impairment of Long lived Assets - Additional Information (Detail) $ in Thousands	9 Months Ended
	Dec. 31, 2019 USD ($)
Impairment Of Long Lived Assets Disclosure [Abstract]
Impairment loss of long-lived assets	$ 216,777

Summary of Impact of Impairment on Net Book Value of Assets (Detail) $ in Thousands	9 Months Ended
	Dec. 31, 2019 USD ($)
Net Book Value Before Impairment	$ 227,839
Impairment	(216,777)
Net Book Value After Impairment	11,062
Operating Facilities [Member]
Net Book Value Before Impairment	170,324
Impairment	(164,449)
Net Book Value After Impairment	5,875
Transload Locations [Member]
Net Book Value Before Impairment	23,254
Impairment	(21,805)
Net Book Value After Impairment	1,449
Real Estate [Member]
Net Book Value Before Impairment	1,427
Impairment	(1,377)
Net Book Value After Impairment	50
Lease Right-of-Use Assets [Member]
Net Book Value Before Impairment	32,834
Impairment	(29,146)
Net Book Value After Impairment	$ 3,688

Inventories - Additional Information (Details) $ in Millions	9 Months Ended
	Dec. 31, 2019 USD ($)
Raw Materials and Materials-in-Process [Member]
Inventory [Line Items]
Inventory write-downs	$ 3.3
Frac Sand [Member]
Inventory [Line Items]
Inventory write-downs	1.7
Repair Parts and Supplies [Member]
Inventory [Line Items]
Inventory write-downs	$ 1.3

Schedule of Balance Sheet Information Related to Leases (Detail) $ in Thousands	Dec. 31, 2019 USD ($)
Operating Leases:
Operating Lease Right-of-Use Assets	$ 29,346
Current Operating Lease Liabilities	10,601
Noncurrent Operating Lease Liabilities	51,939
Total Operating Lease Liabilities	$ 62,540

Income Taxes - Additional Information (Detail)	9 Months Ended
Income Taxes - Additional Information (Detail)	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Effective tax rate	403.00%	22.00%

Schedule of Senior Unsecured Notes Redemption Prices (Detail) - 4.500% Senior Unsecured Notes Due 2026 [Member]	9 Months Ended
	Dec. 31, 2019
2021 [Member]
Debt Instrument Redemption [Line Items]
Redemption price, percentage	102.25%
2022 [Member]
Debt Instrument Redemption [Line Items]
Redemption price, percentage	101.50%
2023 [Member]
Debt Instrument Redemption [Line Items]
Redemption price, percentage	100.75%
2024 and Thereafter [Member]
Debt Instrument Redemption [Line Items]
Redemption price, percentage	100.00%

Segment Breakdown of Goodwill (Detail) - USD ($) $ in Thousands	Dec. 31, 2019	Mar. 31, 2019
Segment Reporting Information [Line Items]
Goodwill	$ 200,009	$ 198,370
Cement [Member]
Segment Reporting Information [Line Items]
Goodwill	74,214	74,214
Gypsum Wallboard [Member]
Segment Reporting Information [Line Items]
Goodwill	116,618	116,618
Paperboard [Member]
Segment Reporting Information [Line Items]
Goodwill	7,538	$ 7,538
Concrete and Aggregates [Member]
Segment Reporting Information [Line Items]
Goodwill	$ 1,639

Commitments and Contingencies - Additional Information (Detail)	Dec. 31, 2019 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Letters of credit outstanding, amount	$ 6,900,000
Outstanding guarantees	0
Contingently liable for performance, current	$ 28,700,000

Fair Value of Senior Notes (Detail) $ in Thousands	Dec. 31, 2019 USD ($)
4.500% Senior Unsecured Notes Due 2026 [Member]
Fair Value Of Financial Instruments [Line Items]
Fair Value of Senior Notes	$ 366,909