0001564590-20-034976 | 10-Q | XBRL Viewer

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Jun. 30, 2020	Jul. 27, 2020
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
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		41,756,684
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 (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Revenue	$ 428,020	$ 370,597
Cost of Goods Sold	327,041	295,268
Gross Profit	100,979	75,329
Equity in Earnings of Unconsolidated Joint Venture	7,796	9,432
Corporate General and Administrative Expense	(17,789)	(21,254)
Gain on Sale of Businesses	51,973
Other Non-Operating Income (Loss)	(127)	200
Interest Expense, Net	(14,041)	(8,846)
Earnings before Income Taxes	128,791	54,861
Income Taxes	(32,585)	(13,557)
Net Earnings	$ 96,206	$ 41,304
EARNINGS PER SHARE
Basic	$ 2.32	$ 0.94
Diluted	$ 2.31	$ 0.94
AVERAGE SHARES OUTSTANDING
Basic	41,410,794	43,870,222
Diluted	41,563,268	44,150,211
CASH DIVIDENDS PER SHARE	$ 0.10	$ 0.10

Consolidated Statements of Comprehensive Earnings (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net Earnings	$ 96,206	$ 41,304
Net Actuarial Change in Defined Benefit Plans:
Amortization of net actuarial loss	33	43
Tax expense	(8)	(10)
Comprehensive Earnings	$ 96,231	$ 41,337

- Definition

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	Jun. 30, 2020	Mar. 31, 2020
Current Assets -
Cash and Cash Equivalents	$ 199,441	$ 118,648
Accounts and Notes Receivable, net	194,564	151,786
Inventories	243,125	272,508
Income Tax Receivable	123,709	128,413
Prepaid and Other Assets	10,754	6,862
Total Current Assets	771,593	678,217
Property, Plant, and Equipment, net	1,726,363	1,762,109
Notes Receivable	9,068	9,139
Investment in Joint Venture	72,254	73,958
Operating Lease Right-of-Use Assets	29,904	30,530
Goodwill and Intangible Assets, net	395,673	396,463
Other Assets	10,309	10,604
Total Assets	3,015,164	2,961,020
Current Liabilities -
Accounts Payable	81,985	86,197
Accrued Liabilities	75,482	73,293
Income Taxes Payable	32,130
Operating Lease Liabilities	10,436	10,207
Total Current Liabilities	200,033	169,697
Long-term Debt	1,492,088	1,567,315
Noncurrent Operating Lease Liabilities	47,478	49,809
Other Long-term Liabilities	44,667	39,689
Deferred Income Taxes	162,940	166,667
Total Liabilities	1,947,206	1,993,177
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 41,756,684 and 41,649,041 Shares, respectively	418	416
Capital in Excess of Par Value	14,571	10,943
Accumulated Other Comprehensive Losses	(3,302)	(3,581)
Retained Earnings	1,056,271	960,065
Total Stockholders’ Equity	1,067,958	967,843
Liabilities and Stockholders' Equity, Total	$ 3,015,164	$ 2,961,020

Consolidated Balance Sheets (unaudited) (Parenthetical) - $ / shares	Jun. 30, 2020	Mar. 31, 2020
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	41,756,684	41,649,041
Common Stock, Outstanding	41,756,684	41,649,041

Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net Earnings	$ 96,206	$ 41,304
Adjustments to Reconcile Net Earnings to Net Cash Provided by Operating Activities, Net of Effect of Non-Cash Activity -
Depreciation, Depletion and Amortization	31,937	27,960
Deferred Income Tax Provision	(3,736)	3,687
Stock Compensation Expense	4,760	8,219
Gain on Sale of Subsidiaries	(51,973)
Equity in Earnings of Unconsolidated Joint Venture	(7,796)	(9,432)
Distributions from Joint Venture	9,500	3,000
Changes in Operating Assets and Liabilities:
Accounts and Notes Receivable	(45,878)	(45,431)
Inventories	23,091	11,582
Accounts Payable and Accrued Liabilities	4,398	(6,071)
Other Assets	(2,030)	6,486
Income Taxes Payable (Receivable)	36,834	9,394
Net Cash Provided by Operating Activities	95,313	50,698
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment	(25,991)	(21,813)
Proceeds from Sale of Businesses	93,482
Net Cash Provided by (Used in) Investing Activities	67,491	(21,813)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (Decrease) in Credit Facility	(75,000)	185,000
Dividends Paid to Stockholders	(4,163)	(4,499)
Purchase and Retirement of Common Stock		(198,355)
Proceeds from Stock Option Exercises		396
Payment of Debt Issuance Costs	(1,718)
Shares Redeemed to Settle Employee Taxes on Stock Compensation	(1,130)	(866)
Net Cash Used in Financing Activities	(82,011)	(18,324)
NET INCREASE IN CASH AND CASH EQUIVALENTS	80,793	10,561
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	118,648	8,601
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 199,441	$ 19,162

Consolidated Statements of Stockholders' Equity (unaudited) - USD ($) $ in Thousands	Total	Sale of business [Member]	Common Stock [Member]	Capital in Excess of Par Value [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Losses [Member]	Accumulated Other Comprehensive Losses [Member] Sale of business [Member]
Beginning balance at Mar. 31, 2019	$ 1,209,487		$ 451		$ 1,212,352	$ (3,316)
Net Earnings	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, 2020	967,843		416	10,943	960,065	(3,581)
Net Earnings	96,206				96,206
Stock Compensation Expense	4,760		2	4,758
Shares Redeemed to Settle Employee Taxes	(1,130)			(1,130)
Unfunded Pension Liability, net of tax	25	$ 254				25	$ 254
Ending Balance at Jun. 30, 2020	$ 1,067,958		$ 418	$ 14,571	$ 1,056,271	$ (3,302)

- 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

3 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

BASIS OF PRESENTATION

(A) BASIS OF PRESENTATION

The accompanying unaudited consolidated financial statements as of and for the three-month period ended June 30, 2020 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 22, 2020.

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.

We have been deemed an essential business with respect to the COVID-19 pandemic. While we have not yet experienced a material impact on our operations or financial position from this pandemic, there may be future effects on our business, both directly and indirectly, including with respect to customers, manufacturing operations, employees, suppliers, and the building materials and construction markets in general.

Recent Accounting Pronouncements

RECENTLY ADOPTED

In June 2016, the FASB issued ASU 2016-13, which is 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. The adoption of this standard on April 1, 2020, did not have a material effect on our consolidated financial statements and disclosures.

PENDING ADOPTION

In December 2019, the FASB issued ASU 2019-12 which simplifies the accounting for income taxes, eliminates certain exceptions within existing income tax guidance, and clarifies certain aspects of the current guidance to promote consistency among reporting entities. The updated standard is effective for public companies for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020, with early adoption permitted. We do not expect the adoption of this standard will have a material impact to our consolidated financial statements.

SUPPLEMENTAL CASH FLOW INFORMATION

3 Months Ended

Jun. 30, 2020

Supplemental Cash Flow Elements [Abstract]

SUPPLEMENTAL CASH FLOW INFORMATION

(B) SUPPLEMENTAL CASH FLOW INFORMATION

Supplemental cash flow information is as follows:

	For the Three Months Ended June 30,
	2020		2019
	(dollars in thousands)
Cash Payments:
Interest	$	9,562	$	5,241
Income Taxes		—		90
Operating Cash Flows used for Operating Leases		3,195		3,961

Non-Cash Financing Activities:
Property and Equipment Purchases Included in Accrued Liabilities	$	—	$	3,675

ACQUISITION

3 Months Ended

Jun. 30, 2020

Business Combinations [Abstract]

ACQUISITION

Kosmos Acquisition

On March 6, 2020, we acquired the assets of Kosmos Cement Company (Kosmos), a joint venture between CEMEX S.A.B. de C.V. and Buzzi Unicem S.p.A. (the Kosmos Acquisition). The Kosmos Acquisition included (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 assumed certain liabilities and obligations of Kosmos relating to the Kosmos Business, including contractual obligations, reclamation obligations and various other liabilities arising out of or relating to the Kosmos Business. The Kosmos Business is included in our Heavy Materials Sector, in the Cement segment.

Purchase Price: The purchase price of the Kosmos Acquisition was approximately $669 million. We funded the payment of the Kosmos Acquisition primarily through a Term Loan borrowing with the remainder paid using cash on hand. See Footnote (N) for a description of the loan terms.

Recording of Assets Acquired and Liabilities Assumed: The transaction was accounted for using the acquisition method of accounting which requires, among other things, that assets acquired and liabilities assumed be recognized at their fair values as of the acquisition date. The Company engaged a third party to perform appraisal valuation services to support the Company’s preliminary estimate of the fair value of certain assets acquired in the Kosmos Acquisition.

The preparation of the valuation of the assets acquired and liabilities assumed in the Kosmos Acquisition requires the use of significant assumptions and estimates. Critical estimates with respect to the valuation of property, plant, and equipment include, but are not limited to, replacement cost, condition, and estimated remaining useful lives of property and equipment. Critical estimates related to intangible and other assets include future expected cash flows, including projected revenues and expenses, customer attrition, and applicable discount rates. These estimates are based on assumptions that we believe to be reasonable. However, actual results may differ from these estimates.

The Company has determined preliminary fair values of the assets acquired and liabilities assumed in the Kosmos Acquisition. These values are subject to change during the measurement period as we perform additional reviews of the property and equipment, and the asset retirement obligation.

The following table summarizes the provisional allocation of the purchase price to assets acquired and liabilities assumed as of June 30, 2020:


	(dollars in thousands)
Inventories	$	28,568
Property, Plant, and Equipment		476,942
Intangible Assets		38,300
Lease Right-of-Use Assets		4,478
Lease Obligations		(4,478	)
Long-term Liabilities		(4,000	)
Total Net Assets		539,810
Goodwill		129,127
Total Estimated Purchase Price	$	668,937

During the quarter ended June 30, 2020, we completed the valuation of inventories, intangible assets, lease right-of-use assets, and lease obligations. These final values, which are disclosed in the above table, resulted in increases of $0.2 million, $2.8 million, $0.6 million and $0.6 million, respectively, from the amounts disclosed in our fiscal 2020 Form 10-K. We also revised our estimates for property, plant and equipment, which resulted in a reduction of $0.5 million; however, this value is still preliminary.

Goodwill represents the excess purchase price over the fair values of assets acquired and liabilities assumed. The Goodwill was generated by the availability of co-product sales and the opportunity associated with the expansion of our Cement business to the eastern region of the United States. All of the goodwill generated by the transaction will be deductible for income tax purposes.

The following table is a summary of the fair value estimates of the identifiable intangible assets (dollars in thousands) and their weighted-average useful lives:

	Weighted-Average Life		Estimated Fair Value
Permits		20		1,500
Customer Relationships		15		35,300
Trade Name and Technology		10		1,500
Total Intangible Assets			$	38,300

Actual and pro forma impact of Kosmos Acquisition: The following table presents the net sales and Operating Earnings related to the Kosmos Acquisition that has been included in our Consolidated Statement of Earnings for the three months ended June 30, 2020:


	For the Three Months Ended June 30, 2020
	(dollars in thousands)
Revenue	$	47,555
Operating Earnings	$	10,552

Operating Earnings shown above for the three months ended June 30, 2020 was affected by approximately $5.3 million related to depreciation and amortization and $3.7 million related to the recording of acquired inventory at fair value.

The unaudited pro forma results presented below include the effects of the Kosmos Acquisition as if it had been consummated as of April 1, 2019. The pro forma results include estimates for depreciation from the fair value adjustments to acquired Property and Equipment, amortization for acquired Intangible Assets, the Inventory step-up to fair value, and interest expense associated with debt used to fund the Kosmos Acquisition. To better reflect the combined operating results, approximately $5.6 million of material nonrecurring charges directly related to the Kosmos Acquisition have been excluded from pro forma Net Income.

	For the Three Months Ended June 30, 2019
	Unaudited
	(dollars in thousands, except per share data)
Revenue	$	399,766
Net Income	$	36,569
Earnings per share – basic	$	0.83
Earnings per share – diluted	$	0.83

The pro forma results do not include any anticipated synergies or other expected benefits of the Kosmos Acquisition. Accordingly, the unaudited pro forma results are not necessarily indicative of either future results of operations or results that might have been achieved had the Kosmos Acquisition been consummated as of April 1, 2019.

SALE OF BUSINESSES

3 Months Ended

Jun. 30, 2020

Discontinued Operations And Disposal Groups [Abstract]

SALE OF BUSINESSES

(D) SALE OF BUSINESSES

On April 17, 2020, we sold our Western Aggregates LLC (Western) and Mathews Readymix LLC (Mathews) businesses to Teichert, Inc. for an aggregate purchase price of approximately $93.5 million, subject to certain post-closing adjustments. This sale resulted in a gain of approximately $52.0 million. Western and Mathews were part of our Concrete and Aggregates operating segment, and their results of operations were included in our financial statements for the period from April 1, 2020 through April 17, 2020.

At the date of sale, assets and liabilities included on our balance sheet related to Western and Mathews were approximately $43.8 million and $2.3 million, respectively. Revenue and Operating Earnings from Western and Mathews, collectively, were approximately $1.7 million and $0.1 million, respectively, for the three months ended June 30, 2020, and $7.8 million and $1.0 million, respectively, for the three months ended June 30, 2019.

REVENUE

3 Months Ended

Jun. 30, 2020

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 are 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 2020 and 2025. We invoice customers upon shipment, and our collection terms range from 30-65 days. Revenue from the sale of cement, concrete, aggregates, and gypsum wallboard that is not related to long-term supply agreements is recognized 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 terminal 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, therefore, are not subject to the risk of reversal.

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 (O) to the Unaudited Consolidated Financial Statements for disaggregation of revenue by segment.

ACCOUNTS AND NOTES RECEIVABLE

3 Months Ended

Jun. 30, 2020

Receivables [Abstract]

ACCOUNTS AND NOTES RECEIVABLE

(F) ACCOUNTS AND NOTES RECEIVABLE

Accounts and Notes Receivable have been shown net of the allowance for doubtful accounts of $9.9 million and $12.4 million at June 30, 2020 and March 31, 2020, respectively. We perform ongoing credit evaluations of our customers’ financial condition and generally require no collateral from our customers. The allowance for non-collection of receivables is based upon analysis of economic trends in the construction industry, detailed analysis of the expected collectability of accounts receivable that are past due, and the expected collectability of overall receivables. We have no significant credit risk concentration among our diversified customer base.

We had Notes Receivable totaling approximately $9.7 million at June 30, 2020, of which approximately $0.7 million has been classified as current and presented with Accounts Receivable on the balance sheet. We lend funds to certain companies in the ordinary course of business, and the notes bear interest, on average, at 3.6%. Remaining unpaid amounts, plus accrued interest, mature in fiscal 2025 and 2026. The notes are collateralized by certain assets of the borrowers, namely property and equipment, and are generally payable monthly. We monitor the credit risk of each borrower by assessing the timeliness of payments, credit history, credit metrics, and our ongoing interactions with each borrower.

INVENTORIES

3 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

INVENTORIES

(G) INVENTORIES

Inventories are stated at the lower of average cost (including applicable material, labor, depreciation, and plant overhead) or net realizable value. Raw Materials and Materials-in-Progress include clinker, which is an intermediary product before it is ground into cement powder. Quantities of Raw Materials and Materials-in-Progress, Aggregates and coal inventories, are based on measured volumes, subject to estimation based on the size and location of the inventory piles, and converted to tonnage using standard inventory density factors. Inventories consist of the following:

	June 30,		March 31,
	2020		2020
	(dollars in thousands)
Raw Materials and Materials-in-Progress	$	96,084	$	110,558
Finished Cement		33,590		43,538
Aggregates		3,562		8,416
Gypsum Wallboard		4,088		4,211
Paperboard		5,424		5,715
Frac Sand		467		386
Repair Parts and Supplies		87,791		88,095
Fuel and Coal		12,119		11,589
	$	243,125	$	272,508

ACCRUED EXPENSES

3 Months Ended

Jun. 30, 2020

Payables And Accruals [Abstract]

ACCRUED EXPENSES

(H) ACCRUED EXPENSES

Accrued Expenses consist of the following:

	June 30,		March 31,
	2020		2020
	(dollars in thousands)
Payroll and Incentive Compensation	$	16,376	$	25,584
Benefits		14,281		12,521
Interest		7,353		4,080
Property Taxes		9,002		6,676
Power and Fuel		1,365		1,353
Legal and Professional		16,110		16,096
Sales and use Tax		1,442		1,085
Other		9,553		5,898
	$	75,482	$	73,293

LEASES

3 Months Ended

Jun. 30, 2020

Leases [Abstract]

LEASES

(I) LEASES

We lease certain real estate, buildings, and equipment. 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, which are not recorded on the balance sheet.

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

	For the Three Months Ended June 30,
	2020		2019
	(dollars in thousands)
Operating Lease Cost	$	2,006	$	3,947
Short-term Lease Cost		759		584
Total Lease Cost	$	2,765	$	4,531

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

	June 30,		March 31,
	2020		2020
	(dollars in thousands)
Operating Leases:
Operating Lease Right-of-Use Assets	$	29,904	$	30,530

Current Operating Lease Liabilities	$	10,436	$	10,207
Noncurrent Operating Lease Liabilities		47,478		49,809
Total Operating Lease Liabilities	$	57,914	$	60,016

Future payments for operating leases are as follows (dollars in thousands):

Fiscal Year	Amount
2021 (remaining nine months)	$	9,301
2022		10,887
2023		10,062
2024		8,216
2025		6,879
Thereafter		24,624
Total Lease Payments	$	69,969
Less: Imputed Interest		(12,055	)
Present Value of Lease Liabilities	$	57,914

Weighted-Average Remaining Lease Term (in years)		9.1
Weighted-Average Discount Rate		3.78	%

SHARE-BASED EMPLOYEE COMPENSATION

3 Months Ended

Jun. 30, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

SHARE-BASED EMPLOYEE COMPENSATION

(J) 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 2020, the Compensation Committee of the Board of Directors approved the granting to certain officers and key employees an aggregate of 96,476 performance vesting stock options that will be earned only if certain performance conditions are satisfied (the Fiscal 2021 Employee Performance Stock Option Grant). The performance criteria for the Fiscal 2021 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, 2021. 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 granted stock options will be forfeited. Following any such reduction, restrictions on the earned stock options will lapse and the earned options will vest ratably over four years, with the initial fourth vesting promptly following the determination date, and the remaining options vesting on March 31, 2022 through 2024. The stock options have a term of ten years from the date of grant. The Compensation Committee also approved the granting of 80,396 time-vesting stock options to the same officers and key employees, which vest ratably over four years (the Fiscal 2021 Employee Time-Vesting Stock Option Grant).

The weighted-average assumptions used in the Black-Scholes model to value the option awards in fiscal 2021 are as follows:

	2020
Dividend Yield		—
Expected Volatility		37.9	%
Risk Free Interest Rate		0.5	%
Expected Life	6.0 years

Stock option expense for all outstanding stock option awards totaled approximately $1.7 million and $1.1 million for the three months ended June 30, 2020 and 2019, respectively. At June 30, 2020, there was approximately $10.0 million of unrecognized compensation cost related to outstanding stock options, which is expected to be recognized over a weighted-average period of 2.8 years.

The following table represents stock option activity for the three months ended June 30, 2020:

	Number of Shares			Weighted- Average Exercise Price
Outstanding Options at March 31, 2020		1,160,091		$	80.36
Granted		178,946		$	60.20
Exercised		—		$	—
Cancelled		(12,094	)	$	91.58
Outstanding Options at June 30, 2020		1,326,943
Options Exercisable at June 30, 2020		914,683
Weighted-Average Fair Value of Options Granted During the Year	$	22.04

The following table summarizes information about stock options outstanding at June 30, 2020:

	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		1.10	$	23.27		65,912	$	23.27
$33.43 - $37.34		57,728		1.96	$	34.03		57,728	$	34.03
$53.22 - $77.67		446,709		6.98	$	67.55		255,357	$	72.53
$79.73 - $106.24		756,594		6.44	$	91.49		535,686	$	89.34
		1,326,943		6.16	$	77.54		914,683	$	76.39

At June 30, 2020, the aggregate intrinsic value for both of the outstanding and exercisable options was approximately $7.4 million and $5.5 million, respectively. No options were exercised during the three months ended June 30, 2020.

RESTRICTED STOCK

In May 2020, the Compensation Committee approved the granting to certain officers and key employees an aggregate of 82,722 shares of performance vesting restricted stock that will be earned if certain performance conditions are satisfied (the Fiscal 2021 Employee Restricted Stock Performance Award). The performance criteria for the Fiscal 2021 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, 2021. 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, 2022 through 2024. The Compensation Committee also approved the granting of 68,936 shares of time-vesting restricted stock to the same officers and key employees, which vest ratably over four years (the Fiscal 2021 Employee Restricted Stock Time-Vesting Award). The Fiscal 2020 Employee Restricted Stock Performance Award and the Fiscal 2021 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.

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 three months ended June 30, 2020:

	Number of Shares			Weighted-Average Grant Date Fair Value
Nonvested Restricted Stock March 31, 2020		233,120		$	78.94
Granted		152,309		$	60.21
Vested		(49,727	)	$	55.50
Forfeited		(6,127	)	$	91.58
Nonvested Restricted Stock at June 30, 2020		329,575

During the three months ended June 30, 2020, the weighted-average grant date fair value of restricted shares awarded was $60.21.

Expense related to restricted shares was approximately $3.0 million and $7.1 million for the three months ended June 30, 2020 and 2019, respectively. At June 30, 2020, there was approximately $17.8 million of unearned compensation from restricted stock, which will be recognized over a weighted-average period of 2.9 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 3,469,927 at June 30, 2020.

COMPUTATION OF EARNINGS PER SHARE

3 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

COMPUTATION OF EARNINGS PER SHARE

(K) COMPUTATION OF EARNINGS PER SHARE

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

	For the Three Months Ended June 30,
	2020			2019
Weighted Average Shares of Common Stock Outstanding		41,410,794			43,870,222
Effect of Dilutive Shares:
Assumed Exercise of Outstanding Dilutive Options		130,687			750,654
Less Shares Repurchased from Proceeds of Assumed Exercised Options		(61,690	)		(591,647	)
Restricted Stock Units		83,477			120,982
Weighted Average Common Stock and Dilutive Securities Outstanding		41,563,268			44,150,211
Shares Excluded Due to Anti-dilution Effects		1,065,648			327,761

PENSION AND EMPLOYEE BENEFIT PLANS

3 Months Ended

Jun. 30, 2020

Compensation And Retirement Disclosure [Abstract]

PENSION AND EMPLOYEE BENEFIT PLANS

(L) 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 (benefit) cost for our plans:

	For the Three Months Ended June 30,
	2020			2019
	(dollars in thousands)
Service Cost - Benefits Earned During the Period	$	—		$	85
Interest Cost of Projected Benefit Obligation		304			338
Expected Return on Plan Assets		(355	)		(426	)
Recognized Net Actuarial Loss		33			43
Net Periodic Pension (Benefit) Cost	$	(18	)	$	40

INCOME TAXES

3 Months Ended

Jun. 30, 2020

Income Tax Disclosure [Abstract]

INCOME TAXES

(M) INCOME TAXES

Income Taxes for the interim periods presented have been included in the accompanying financial statements on the basis of an estimated annual effective tax rate. In addition to the amount of tax resulting from applying the estimated annual effective tax rate to pre-tax income, we will include, when appropriate, certain items treated as discrete events to arrive at an estimated overall tax amount. The effective tax rate for the three months ended June 30, 2020 was approximately 25%, which was in line with the tax rate of 25% for the three months ended June 30, 2019. During the three months ended June 30, 2020, the effective tax rate rose above the US Statutory rate of 21% primarily due to state income taxes and a discrete penalty that was recorded related to an uncertain tax position.

LONG-TERM DEBT

3 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

LONG-TERM DEBT

(N) LONG-TERM DEBT

Long-term Debt consists of the following:

	June 30,			March 31,
	2020			2020
	(dollars in thousands)
Revolving Credit Facility	$	485,000		$	560,000
4.500% Senior Unsecured Notes Due 2026		350,000			350,000
Term Loan		665,000			665,000
Total Debt		1,500,000			1,575,000
Less: Debt Origination Costs		(7,912	)		(7,685	)
Long-term Debt	$	1,492,088		$	1,567,315

Credit Facility

We have a revolving credit facility (the Revolving Credit Facility) that terminates on August 2, 2022. The borrowing capacity under the Revolving Credit Facility is $750.0 million until August 2, 2021, after which the aggregate borrowing capacity under the Revolving Credit Facility will be reduced to $665.0 million. The Revolving Credit Facility also includes a swingline loan sublimit of $25.0 million.

Borrowings under the Revolving Credit Facility are guaranteed by all of the Company’s material subsidiaries. The debt under the Revolving Credit Facility is not rated by ratings agencies. At the Company’s option, principal amounts outstanding under the Revolving Credit Facility bear interest at a variable rate equal to either (i) the Adjusted LIBO Rate (as defined in the Revolving Credit Facility) plus an agreed spread (ranging from 125 to 200 basis points for loans scheduled to mature in 2021 and from 150 to 250 basis points for loans scheduled to mature in 2022), which is established quarterly based on the Company's then Leverage Ratio (as defined in the Revolving Credit Facility); or (ii) an Alternate Base Rate (as defined in the Revolving Credit Facility), which is the

highest of (a) the Prime Rate (as defined in the Revolving Credit Facility), (b) the NYFRB (as defined in the Revolving Credit Facility) plus ½ of 1%, and (c) the Adjusted LIBO Rate for a one-month interest period on such day, plus 1.0%, in each case plus an agreed upon spread (ranging from 25 to 100 basis points for loans scheduled to mature in 2021 and from 50 to 150 basis points for loans scheduled to mature in 2022) which is established quarterly based on the Company's then Leverage Ratio. 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 the Adjusted LIBO Rate, interest is payable at the end of the relevant Interest Period (as defined in the Revolving Credit Facility) for such borrowing unless such Interest Period is for more than three months duration, in which case such interest is payable at intervals of three months duration after the first day of such Interest Period, 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 Revolving Credit Facility (ranging from 15 to 30 basis points for loans scheduled to mature in 2021 and from 20 to 40 basis points for loans scheduled to mature in 2022) which is established quarterly based on the Company's then Leverage Ratio. The Revolving Credit Facility contains customary covenants that restrict the Company’s and its Restricted Subsidiaries’ ability to incur additional debt; encumber assets; merge with or transfer or sell assets to other persons; make or enter into certain investments, loans, or guaranties; enter into certain swap agreements; enter into affiliate transactions or restrictive transactions; make restricted payments; prepay subordinated indebtedness; and enter into sale and leaseback arrangements. The Revolving Credit Facility also requires the Company to maintain at the end of each fiscal quarter a Leverage Ratio of 4.50:1.00 or less and an Interest Coverage Ratio (as defined in the Revolving Credit Facility) equal to or greater than 2.50 to 1.00.

We were in compliance with all financial ratios and tests at June 30, 2020. We had $485.0 million of borrowings outstanding under the Revolving Credit Facility at June 30, 2020. We had $260.0 million of available borrowings under the Revolving Credit Facility, net of the outstanding letters of credit, at June 30, 2020, all of which was available for future borrowings based on our current Leverage Ratio.

The Revolving Credit Facility has a $40.0 million letter of credit facility. The Company pays each lender a participation fee with respect to such lender’s participations in letters of credit, which fee accrues at the same Applicable Rate (as defined in the Revolving Credit Facility) used to determine the interest rate applicable to Eurodollar Revolving Loans (as defined in the Revolving Credit Facility) plus a one-time letter of credit fee to the issuing bank of such letters of credit in an amount equal to 0.125% of the initial stated amount. At June 30, 2020, we had $5.0 million of outstanding letters of credit. We previously provided an irrevocable stand-by letter of credit for any borrowings made by our Joint Venture under its credit facility; however, this credit facility was terminated and the letter of credit cancelled in July 2020.

Term Loan

We have a term loan credit agreement (the Term Loan Agreement) establishing a $665.0 million term loan facility which we used to pay a portion of the purchase price for the Kosmos Acquisition and fees and expenses incurred in connection with the Kosmos Acquisition in March 2020, which matures on August 2, 2022.

Borrowings under the Term Loan Agreement bear interest, at our option, at a variable rate equal to either (i) the Alternate Base Rate (as defined in the Term Loan Agreement and consistent with the Revolving Credit Facility), plus an agreed spread (ranging from 50 to 150 basis points), or (ii) the Adjusted LIBO Rate (as defined in the Term Loan Agreement) plus an agreed spread (ranging from 150 to 250 basis points), which is established quarterly based on the Company's then Leverage Ratio (as defined in the Term Loan Agreement and consistent with the Revolving Credit Facility). The Company must also maintain a Leverage Ratio and Interest Coverage Ratio consistent with the Revolving 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 Credit Facility and the Private Placement Senior Unsecured Notes. 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 Revolving Credit Facility and Term Loan Agreement. See Footnote (R) for more information on the guarantors of the Senior Public 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

3 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

SEGMENT INFORMATION

(O) 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 and light building materials in the United States. Our primary products are commodities that are essential in commercial and residential construction; public construction projects; and projects to build, expand, and repair roads and highways. Demand for our products is generally cyclical and seasonal, depending on economic and geographic conditions. We distribute our products across many United States markets, which provides us with regional economic diversification. We also produce sand used in hydraulic fracturing as part of our Oil and Gas Proppants segment.

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

We operate eight modern cement plants (one of which is operated through a joint venture located in Buda, Texas), one slag grinding facility, and 29 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, Indiana, Iowa, Kentucky, Missouri, Nebraska, Nevada, Ohio, Oklahoma, and Texas. We operate 23 readymix concrete batch plants and four aggregates processing plants in markets that are complementary to our cement network. On April 17, 2020 we sold our Concrete and Aggregates companies in northern California. See Footnote (D) for more information about the sale.

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 two frac sand trans-load locations. Frac sand is sold into shale deposits across the United States. During May 2020, we significantly curtailed our operating activities at our frac sand facilities.

We account for intersegment sales at market prices. For segment reporting purposes only, we proportionately consolidate our 50% share of the Joint Venture 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 June 30,
	2020			2019
	(dollars in thousands)
Revenue -
Cement	$	261,411		$	195,313
Concrete and Aggregates		44,190			39,778
Gypsum Wallboard		130,150			126,724
Paperboard		36,744			42,700
Oil and Gas Proppants		1,031			15,232
		473,526			419,747
Less: Intersegment Revenue		(20,206	)		(21,645	)
Less: Joint Venture Revenue		(25,300	)		(27,505	)
	$	428,020		$	370,597

	For the Three Months Ended June 30,
	2020		2019
	(dollars in thousands)
Intersegment Revenue -
Cement	$	6,031	$	4,253
Concrete and Aggregates		106		377
Paperboard		14,069		17,015
	$	20,206	$	21,645
Cement Sales Volume (M tons) -
Wholly Owned		1,866		1,318
Joint Venture		219		232
		2,085		1,550

	For the Three Months Ended June 30,
	2020			2019
	(dollars in thousands)
Operating Earnings -
Cement	$	60,455		$	36,121
Concrete and Aggregates		5,418			4,434
Gypsum Wallboard		41,325			37,932
Paperboard		2,895			9,944
Oil and Gas Proppants		(1,318	)		(3,670	)
Sub-Total		108,775			84,761
Corporate General and Administrative Expense		(17,789	)		(21,254	)
Gain on Sale of Businesses		51,973			—
Other Non-Operating Income (Loss)		(127	)		200
Earnings Before Interest and Income Taxes		142,832			63,707
Interest Expense, net		(14,041	)		(8,846	)
Earnings Before Income Taxes	$	128,791		$	54,861
Cement Operating Earnings -
Wholly Owned	$	52,659		$	26,689
Joint Ventures		7,796			9,432
	$	60,455		$	36,121
Capital Expenditures -
Cement	$	10,348		$	10,537
Concrete and Aggregates		1,261			595
Gypsum Wallboard		6,512			1,931
Paperboard		7,870			12,360
Oil and Gas Proppants		—			65
Other, net		—			—
	$	25,991		$	25,488
Depreciation, Depletion, and Amortization -
Cement	$	19,243		$	14,218
Concrete and Aggregates		2,721			2,191
Gypsum Wallboard		5,200			4,952
Paperboard		3,352			2,163
Oil and Gas Proppants		121			3,839
Corporate and Other		1,300			597
	$	31,937		$	27,960

	June 30,		March 31,
	2020		2020
	(dollars in thousands)
Identifiable Assets
Cement	$	1,999,175	$	1,980,306
Concrete and Aggregates		99,298		136,041
Gypsum Wallboard		372,628		375,946
Paperboard		187,511		183,288
Oil and Gas Proppants		8,047		14,294
Other, net		348,505		271,145
	$	3,015,164	$	2,961,020

The capital expenditures for the three months ended June 30, 2019 disclosed above differs from the capital expenditures on the Unaudited Consolidated Statement of Cash Flows as it includes $3.7 million of capital expenditures that were accrued at June 30, 2019 and therefore not included in the Statement of Cash Flows. See Footnote (B) 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, and segment Selling, General and Administrative expenses. We account for intersegment sales at market prices. Corporate assets consist 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:

	June 30,		March 31,
	2020		2020
	(dollars in thousands)
Cement	$	203,342	$	205,797
Concrete and Aggregates		1,639		1,639
Gypsum Wallboard		116,618		116,618
Paperboard		7,538		7,538
	$	329,137	$	331,592

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 June 30,
	2020		2019
	(dollars in thousands)
Revenue	$	50,600	$	55,010
Gross Margin	$	16,765	$	19,866
Earnings Before Income Taxes	$	15,727	$	19,017

	June 30,		March 31,
	2020		2020
	(dollars in thousands)
Current Assets	$	70,153	$	77,331
Non-Current Assets	$	99,488	$	93,093
Current Liabilities	$	18,302	$	17,197

INTEREST EXPENSE

3 Months Ended

Jun. 30, 2020

Banking And Thrift Interest [Abstract]

INTEREST EXPENSE

(P) INTEREST EXPENSE

The following components are included in Interest Expense, net:

	For the Three Months Ended June 30,
	2020		2019
	(dollars in thousands)
Interest Income	$	—	$	(4	)
Interest Expense		13,019		8,559
Other Expenses		1,022		291
Interest Expense, net	$	14,041	$	8,846

Interest Income includes interest earned on investments of excess cash. Components of Interest Expense include interest associated with the Revolving Credit Facility, Term Loan, Senior Unsecured Notes, and commitment fees based on the unused portion of the Revolving Credit Facility. Other Expenses include amortization of debt issuance costs and Revolving Credit Facility costs.

COMMITMENTS AND CONTINGENCIES

3 Months Ended

Jun. 30, 2020

Commitments And Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

(Q) COMMITMENTS AND CONTINGENCIES

We have certain deductible limits under our workers’ compensation and liability insurance policies for which reserves are established based on the undiscounted estimated costs of known and anticipated claims. We have entered into standby letter of credit agreements relating to workers’ compensation and auto and general liability self-insurance. At June 30, 2020, we had contingent liabilities under these outstanding letters of credit of approximately $5.0 million.

In the ordinary course of business, we execute contracts involving indemnifications that are standard in the industry and indemnifications specific to a transaction such as the sale of a business. These indemnifications may include claims relating to any of the following: environmental and tax matters; intellectual property rights; governmental regulations and employment-related matters; customer, supplier, and other commercial contractual relationships; construction contracts and financial matters. While the maximum amount to which the Company may be exposed under such agreements cannot be estimated, management believes these indemnifications will not have a material adverse effect on our consolidated financial position, results of operations, or cash flows. We currently have no outstanding guarantees.

We are currently contingently liable for performance under $29.9 million in performance bonds required by certain states and municipalities and their related agencies. The bonds are principally for certain reclamation obligations and mining permits. We have indemnified the underwriting insurance company against any exposure under the performance bonds. In our past experience, no material claims have been made against these financial instruments.

FAIR VALUE OF FINANCIAL INSTRUMENTS

3 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

(R) 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 June 30, 2020 is as follows:

	Fair Value
	(dollars in thousands)
4.500% Senior Unsecured Notes Due 2026	$	363,765

The estimated fair value of our long-term debt was 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, accounts and notes receivable, accounts payable, and accrued liabilities approximate their fair values at June 30, 2020, due to the short-term maturities of these assets and liabilities. The fair value of our Revolving Credit Facility and Term Loan also approximates their carrying values at June 30, 2020.

- 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

3 Months Ended

Jun. 30, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

FINANCIAL STATEMENTS FOR GUARANTORS OF THE 4.500% SENIOR UNSECURED NOTES

(S) 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.

Our Senior Unsecured Notes are guaranteed by all of the Company’s wholly-owned subsidiaries, except for those subsidiaries comprising the Oil and Gas Proppants business. The guarantees are full and unconditional, and joint and several. The subsidiaries comprising the Oil and Gas Proppants business were guarantors of the Senior Unsecured Notes at March 31, 2020, but beginning in April 2020 they were removed from the guarantor group.

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.), the guarantors (all wholly owned subsidiaries of Eagle Materials Inc., with the exception of the Oil and Gas Proppants businesses beginning April 1, 2020) and the non-guarantors (the Oil and Gas Proppants businesses beginning April 1, 2020) on a combined basis with eliminating entries (dollars in thousands).

Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Three Months Ended June 30, 2020	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	426,989		$	1,031		$	—		$	428,020
Cost of Goods Sold		—			324,692			2,349			—			327,041
Gross Profit		—			102,297			(1,318	)		—			100,979
Equity in Earnings of Unconsolidated Joint Venture		7,796			7,796			—			(7,796	)		7,796
Equity in Earnings of Subsidiaries		63,684			—			—			(63,684	)		—
Corporate General and Administrative Expenses		(14,411	)		(3,260	)		(118	)		—			(17,789	)
Gain on Sale of Businesses		51,973			—			—			—			51,973
Other Non-Operating Income (Loss)		(375	)		67			181			—			(127	)
Interest Expense, net		(14,028	)		(13	)		—			—			(14,041	)
Earnings before Income Taxes		94,639			106,887			(1,255	)		(71,480	)		128,791
Income Taxes		1,567			(34,502	)		350			—			(32,585	)
Net Earnings	$	96,206		$	72,385		$	(905	)	$	(71,480	)	$	96,206
Net Earnings	$	96,206		$	72,385		$	(905	)	$	(71,480	)	$	96,206
Net Actuarial Change in Benefit Plans, net of tax		25			25			—			(25	)		25
Comprehensive Earnings	$	96,231		$	72,410		$	(905	)	$	(71,505	)	$	96,231

Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Three Months Ended June 30, 2019	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	370,597		$	—		$	—		$	370,597
Cost of Goods Sold		—			295,268			—			—			295,268
Gross Profit		—			75,329			—			—			75,329
Equity in Earnings of Unconsolidated Joint Venture		9,432			9,432			—			(9,432	)		9,432
Equity in Earnings of Subsidiaries		55,742			—			—			(55,742	)		—
Corporate General and Administrative Expenses		(20,968	)		(286	)		—			—			(21,254	)
Other Non-Operating Income		426			(226	)		—			—			200
Interest Expense, net		(8,834	)		(12	)		—			—			(8,846	)
Earnings before Income Taxes		35,798			84,237			—			(65,174	)		54,861
Income Taxes		5,506			(19,063	)		—			—			(13,557	)
Net Earnings	$	41,304		$	65,174		$	—		$	(65,174	)	$	41,304
Net Earnings	$	41,304		$	65,174		$	—		$	(65,174	)	$	41,304
Net Actuarial Change in Benefit Plans, net of tax		33			33			—			(33	)		33
Comprehensive Earnings	$	41,337		$	65,207		$	—		$	(65,207	)	$	41,337

Condensed Consolidating Balance Sheet at June 30, 2020	Parent		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current Assets -
Cash and Cash Equivalents	$	196,831	$	2,600		$	10		$	—		$	199,441
Accounts and Notes Receivable		1,463		192,271			830			—			194,564
Inventories		—		242,658			467			—			243,125
Income Tax Receivable		123,709		—			—			—			123,709
Prepaid and Other Current Assets		1,199		9,415			140			—			10,754
Total Current Assets		323,202		446,944			1,447			—			771,593
Property, Plant, and Equipment, net		6,329		1,714,389			5,645			—			1,726,363
Notes Receivable		—		9,068			—			—			9,068
Investment in Joint Venture		70		72,184			—			—			72,254
Investments in Subsidiaries and Receivables from Affiliates		2,543,210		215,702			468			(2,759,380	)		—
Deferred Income Taxes		9,246		—			43,742			(52,988	)		—
Operating Lease Right of Use Assets		9,576		19,373			955			—			29,904
Goodwill and Intangible Assets, net		—		395,673			—			—			395,673
Other Assets		5,029		5,280			—			—			10,309
	$	2,896,662	$	2,878,613		$	52,257		$	(2,812,368	)	$	3,015,164
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities-
Accounts Payable	$	3,052	$	77,371			1,562		$	—		$	81,985
Accrued Liabilities		38,027		34,963			2,492			—			75,482
Income Taxes Payable		32,130		—			—			—			32,130
Operating Lease Liabilities		1,197		5,702			3,537			—			10,436
Total Current Liabilities		74,406		118,036			7,591			—			200,033
Long-term Debt		1,492,088		—			—			—			1,492,088
Noncurrent Lease Liabilities		11,952		26,783			8,743			—			47,478
Other Long-term Liabilities		3,500		35,362			5,805			—			44,667
Payables to Affiliates		246,758		6,813,951			51,727			(7,112,436	)		—
Deferred Income Taxes		-		215,928			—			(52,988	)		162,940
Total Liabilities		1,828,704		7,210,060			73,866			(7,165,424	)		1,947,206
Total Stockholders’ Equity		1,067,958		(4,331,447	)		(21,609	)		4,353,056			1,067,958
	$	2,896,662	$	2,878,613		$	52,257		$	(2,812,368	)	$	3,015,164

Condensed Consolidating Balance Sheet at March 31, 2020	Parent		Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current Assets -
Cash and Cash Equivalents	$	116,269	$	2,379		$	—	$	—		$	118,648
Accounts and Notes Receivable		531		151,255			—		—			151,786
Inventories		—		272,508			—		—			272,508
Income Tax Receivables		128,413		—			—		—			128,413
Prepaid and Other Current Assets		953		5,909			—		—			6,862
Total Current Assets		246,166		432,051			—		—			678,217
Property, Plant, and Equipment, net		6,606		1,755,503			—		—			1,762,109
Notes Receivable		—		9,139			—		—			9,139
Investment in Joint Venture		70		73,888			—		—			73,958
Operating Lease Right-of-Use Assets		9,765		20,765			—		—			30,530
Investments in Subsidiaries and Receivables from Affiliates		2,489,326		179,398			—		(2,668,724	)		—
Deferred Taxes		11,409		—			—		(11,409	)		—
Goodwill and Intangible Assets, net		—		396,463			—		—			396,463
Other Assets		4,417		6,187			—		—			10,604
	$	2,767,759	$	2,873,394		$	—	$	(2,680,133	)	$	2,961,020
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities-
Accounts Payable	$	6,365	$	79,832			—	$	—		$	86,197
Accrued Liabilities		33,409		39,884			—		—			73,293
Operating Lease Liabilities		1,180		9,027			—		—			10,207
Total Current Liabilities		40,954		128,743			—		—			169,697
Long-term Debt		1,567,315		—			—		—			1,567,315
Noncurrent Operating Lease Liabilities		12,249		37,560			—		—			49,809
Other Long-term Liabilities		—		39,689			—		—			39,689
Payables to Affiliates		179,398		6,324,504			—		(6,503,902	)		—
Deferred Income Taxes		—		178,076			—		(11,409	)		166,667
Total Liabilities		1,799,916		6,708,572			—		(6,515,311	)		1,993,177
Total Stockholders’ Equity		967,843		(3,835,178	)		—		3,835,178			967,843
	$	2,767,759	$	2,873,394		$	—	$	(2,680,133	)	$	2,961,020

Condensed Consolidating Statement of Cash Flows For the Three Months Ended June 30, 2020	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	$	21,481		$	70,804		$	3,028		$	—	$	95,313
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment		—			(25,991	)		—			—		(25,991	)
Proceeds from Sale of Businesses		93,482			—			—			—		93,482
Net Cash Used in Investing Activities		93,482			(25,991	)		—			—		67,491
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (Decrease) in Credit Facility		(75,000	)		—			—			—		(75,000	)
Dividends Paid to Stockholders		(4,163	)		—			—			—		(4,163	)
Payment of Debt Issuance Costs		(1,718	)		—			—			—		(1,718	)
Shares Redeemed to Settle Employee Taxes on Stock Compensation		(1,130	)		—			—			—		(1,130	)
Intra-entity Activity, net		47,610			(44,592	)		(3,018	)		—		—
Net Cash Provided by (Used in) Financing Activities		(34,401	)		(44,592	)		(3,018	)		—		(82,011	)
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH		80,562			221			10			—		80,793
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD		116,269			2,379			—			—		118,648
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$	196,831		$	2,600		$	10		$	—	$	199,441

Condensed Consolidating Statement of Cash Flows For the Three Months Ended June 30, 2019	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations		Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	$	(6,412	)	$	57,110		$	—	$	—	$	50,698
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment		—			(21,813	)		—		—		(21,813	)
Net Cash Used in Investing Activities		—			(21,813	)		—		—		(21,813	)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase in Credit Facility		185,000			—			—		—		185,000
Dividends Paid to Stockholders		(4,499	)		—			—		—		(4,499	)
Purchase and Retirement of Common Stock		(198,355	)		—			—		—		(198,355	)
Proceeds from Stock Option Exercises		396			—			—		—		396
Shares Redeemed to Settle Employee Taxes on Stock Compensation		(866	)		—			—		—		(866	)
Intra-entity Activity, net		35,838			(35,838	)		—		—		—
Net Cash Provided by (Used in) Financing Activities		17,514			(35,838	)		—		—		(18,324	)
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH		11,102			(541	)		—		—		10,561
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	$	16,881		$	2,281		$	—	$	—	$	19,162

BASIS OF PRESENTATION (Policies)

3 Months Ended

Jun. 30, 2020

Accounting Policies [Abstract]

Recent Accounting Pronouncements

RECENTLY ADOPTED

PENDING ADOPTION

SUPPLEMENTAL CASH FLOW INFORMATION (Tables)

3 Months Ended

Jun. 30, 2020

Supplemental Cash Flow Elements [Abstract]

Supplemental Cash Flow Information

Supplemental cash flow information is as follows:

	For the Three Months Ended June 30,
	2020		2019
	(dollars in thousands)
Cash Payments:
Interest	$	9,562	$	5,241
Income Taxes		—		90
Operating Cash Flows used for Operating Leases		3,195		3,961

Non-Cash Financing Activities:
Property and Equipment Purchases Included in Accrued Liabilities	$	—	$	3,675

ACQUISITION (Tables)

3 Months Ended

Jun. 30, 2020

Business Combinations [Abstract]

Preliminary Fair Values of the Assets Acquired and Liabilities Assumed

The following table summarizes the provisional allocation of the purchase price to assets acquired and liabilities assumed as of June 30, 2020:


	(dollars in thousands)
Inventories	$	28,568
Property, Plant, and Equipment		476,942
Intangible Assets		38,300
Lease Right-of-Use Assets		4,478
Lease Obligations		(4,478	)
Long-term Liabilities		(4,000	)
Total Net Assets		539,810
Goodwill		129,127
Total Estimated Purchase Price	$	668,937

Summary of the Fair Value Estimates of the Identifiable Intangible Assets

The following table is a summary of the fair value estimates of the identifiable intangible assets (dollars in thousands) and their weighted-average useful lives:

	Weighted-Average Life		Estimated Fair Value
Permits		20		1,500
Customer Relationships		15		35,300
Trade Name and Technology		10		1,500
Total Intangible Assets			$	38,300

Actual and Pro Forma Impact on Net Sales and Operating Loss


	For the Three Months Ended June 30, 2020
	(dollars in thousands)
Revenue	$	47,555
Operating Earnings	$	10,552

Unaudited Pro Forma Results

	For the Three Months Ended June 30, 2019
	Unaudited
	(dollars in thousands, except per share data)
Revenue	$	399,766
Net Income	$	36,569
Earnings per share – basic	$	0.83
Earnings per share – diluted	$	0.83

INVENTORIES (Tables)

3 Months Ended

Jun. 30, 2020

Inventory Disclosure [Abstract]

Schedule of Inventories

	June 30,		March 31,
	2020		2020
	(dollars in thousands)
Raw Materials and Materials-in-Progress	$	96,084	$	110,558
Finished Cement		33,590		43,538
Aggregates		3,562		8,416
Gypsum Wallboard		4,088		4,211
Paperboard		5,424		5,715
Frac Sand		467		386
Repair Parts and Supplies		87,791		88,095
Fuel and Coal		12,119		11,589
	$	243,125	$	272,508

ACCRUED EXPENSES (Tables)

3 Months Ended

Jun. 30, 2020

Payables And Accruals [Abstract]

Schedule of Accrued Expenses

Accrued Expenses consist of the following:

	June 30,		March 31,
	2020		2020
	(dollars in thousands)
Payroll and Incentive Compensation	$	16,376	$	25,584
Benefits		14,281		12,521
Interest		7,353		4,080
Property Taxes		9,002		6,676
Power and Fuel		1,365		1,353
Legal and Professional		16,110		16,096
Sales and use Tax		1,442		1,085
Other		9,553		5,898
	$	75,482	$	73,293

LEASES (Tables)

3 Months Ended

Jun. 30, 2020

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 June 30,
	2020		2019
	(dollars in thousands)
Operating Lease Cost	$	2,006	$	3,947
Short-term Lease Cost		759		584
Total Lease Cost	$	2,765	$	4,531

Schedule of Balance Sheet Information Related to Leases

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

	June 30,		March 31,
	2020		2020
	(dollars in thousands)
Operating Leases:
Operating Lease Right-of-Use Assets	$	29,904	$	30,530

Current Operating Lease Liabilities	$	10,436	$	10,207
Noncurrent Operating Lease Liabilities		47,478		49,809
Total Operating Lease Liabilities	$	57,914	$	60,016

Schedule of Future Payments for Operating Leases

Future payments for operating leases are as follows (dollars in thousands):

Fiscal Year	Amount
2021 (remaining nine months)	$	9,301
2022		10,887
2023		10,062
2024		8,216
2025		6,879
Thereafter		24,624
Total Lease Payments	$	69,969
Less: Imputed Interest		(12,055	)
Present Value of Lease Liabilities	$	57,914

Weighted-Average Remaining Lease Term (in years)		9.1
Weighted-Average Discount Rate		3.78	%

SHARE-BASED EMPLOYEE COMPENSATION (Tables)

3 Months Ended

Jun. 30, 2020

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 2021 are as follows:

	2020
Dividend Yield		—
Expected Volatility		37.9	%
Risk Free Interest Rate		0.5	%
Expected Life	6.0 years

Stock Option Activity

The following table represents stock option activity for the three months ended June 30, 2020:

	Number of Shares			Weighted- Average Exercise Price
Outstanding Options at March 31, 2020		1,160,091		$	80.36
Granted		178,946		$	60.20
Exercised		—		$	—
Cancelled		(12,094	)	$	91.58
Outstanding Options at June 30, 2020		1,326,943
Options Exercisable at June 30, 2020		914,683
Weighted-Average Fair Value of Options Granted During the Year	$	22.04

Stock Options Outstanding

The following table summarizes information about stock options outstanding at June 30, 2020:

	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		1.10	$	23.27		65,912	$	23.27
$33.43 - $37.34		57,728		1.96	$	34.03		57,728	$	34.03
$53.22 - $77.67		446,709		6.98	$	67.55		255,357	$	72.53
$79.73 - $106.24		756,594		6.44	$	91.49		535,686	$	89.34
		1,326,943		6.16	$	77.54		914,683	$	76.39

Summary of Activity for Nonvested Restricted Shares

	Number of Shares			Weighted-Average Grant Date Fair Value
Nonvested Restricted Stock March 31, 2020		233,120		$	78.94
Granted		152,309		$	60.21
Vested		(49,727	)	$	55.50
Forfeited		(6,127	)	$	91.58
Nonvested Restricted Stock at June 30, 2020		329,575

COMPUTATION OF EARNINGS PER SHARE (Tables)

3 Months Ended

Jun. 30, 2020

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 June 30,
	2020			2019
Weighted Average Shares of Common Stock Outstanding		41,410,794			43,870,222
Effect of Dilutive Shares:
Assumed Exercise of Outstanding Dilutive Options		130,687			750,654
Less Shares Repurchased from Proceeds of Assumed Exercised Options		(61,690	)		(591,647	)
Restricted Stock Units		83,477			120,982
Weighted Average Common Stock and Dilutive Securities Outstanding		41,563,268			44,150,211
Shares Excluded Due to Anti-dilution Effects		1,065,648			327,761

PENSION AND EMPLOYEE BENEFIT PLANS (Tables)

3 Months Ended

Jun. 30, 2020

Compensation And Retirement Disclosure [Abstract]

Components of Net Periodic (Benefit) Cost

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

	For the Three Months Ended June 30,
	2020			2019
	(dollars in thousands)
Service Cost - Benefits Earned During the Period	$	—		$	85
Interest Cost of Projected Benefit Obligation		304			338
Expected Return on Plan Assets		(355	)		(426	)
Recognized Net Actuarial Loss		33			43
Net Periodic Pension (Benefit) Cost	$	(18	)	$	40

LONG-TERM DEBT (Tables)

3 Months Ended

Jun. 30, 2020

Debt Disclosure [Abstract]

Long-Term Debt

Long-term Debt consists of the following:

	June 30,			March 31,
	2020			2020
	(dollars in thousands)
Revolving Credit Facility	$	485,000		$	560,000
4.500% Senior Unsecured Notes Due 2026		350,000			350,000
Term Loan		665,000			665,000
Total Debt		1,500,000			1,575,000
Less: Debt Origination Costs		(7,912	)		(7,685	)
Long-term Debt	$	1,492,088		$	1,567,315

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)

3 Months Ended

Jun. 30, 2020

Segment Reporting [Abstract]

Financial Information Related to Operations by Segment

	For the Three Months Ended June 30,
	2020			2019
	(dollars in thousands)
Revenue -
Cement	$	261,411		$	195,313
Concrete and Aggregates		44,190			39,778
Gypsum Wallboard		130,150			126,724
Paperboard		36,744			42,700
Oil and Gas Proppants		1,031			15,232
		473,526			419,747
Less: Intersegment Revenue		(20,206	)		(21,645	)
Less: Joint Venture Revenue		(25,300	)		(27,505	)
	$	428,020		$	370,597

	For the Three Months Ended June 30,
	2020		2019
	(dollars in thousands)
Intersegment Revenue -
Cement	$	6,031	$	4,253
Concrete and Aggregates		106		377
Paperboard		14,069		17,015
	$	20,206	$	21,645
Cement Sales Volume (M tons) -
Wholly Owned		1,866		1,318
Joint Venture		219		232
		2,085		1,550

	For the Three Months Ended June 30,
	2020			2019
	(dollars in thousands)
Operating Earnings -
Cement	$	60,455		$	36,121
Concrete and Aggregates		5,418			4,434
Gypsum Wallboard		41,325			37,932
Paperboard		2,895			9,944
Oil and Gas Proppants		(1,318	)		(3,670	)
Sub-Total		108,775			84,761
Corporate General and Administrative Expense		(17,789	)		(21,254	)
Gain on Sale of Businesses		51,973			—
Other Non-Operating Income (Loss)		(127	)		200
Earnings Before Interest and Income Taxes		142,832			63,707
Interest Expense, net		(14,041	)		(8,846	)
Earnings Before Income Taxes	$	128,791		$	54,861
Cement Operating Earnings -
Wholly Owned	$	52,659		$	26,689
Joint Ventures		7,796			9,432
	$	60,455		$	36,121
Capital Expenditures -
Cement	$	10,348		$	10,537
Concrete and Aggregates		1,261			595
Gypsum Wallboard		6,512			1,931
Paperboard		7,870			12,360
Oil and Gas Proppants		—			65
Other, net		—			—
	$	25,991		$	25,488
Depreciation, Depletion, and Amortization -
Cement	$	19,243		$	14,218
Concrete and Aggregates		2,721			2,191
Gypsum Wallboard		5,200			4,952
Paperboard		3,352			2,163
Oil and Gas Proppants		121			3,839
Corporate and Other		1,300			597
	$	31,937		$	27,960

	June 30,		March 31,
	2020		2020
	(dollars in thousands)
Identifiable Assets
Cement	$	1,999,175	$	1,980,306
Concrete and Aggregates		99,298		136,041
Gypsum Wallboard		372,628		375,946
Paperboard		187,511		183,288
Oil and Gas Proppants		8,047		14,294
Other, net		348,505		271,145
	$	3,015,164	$	2,961,020

Segment Breakdown of Goodwill

The segment breakdown of Goodwill is as follows:

	June 30,		March 31,
	2020		2020
	(dollars in thousands)
Cement	$	203,342	$	205,797
Concrete and Aggregates		1,639		1,639
Gypsum Wallboard		116,618		116,618
Paperboard		7,538		7,538
	$	329,137	$	331,592

Summarized Financial Information for Joint Venture Unconsolidated

	For the Three Months Ended June 30,
	2020		2019
	(dollars in thousands)
Revenue	$	50,600	$	55,010
Gross Margin	$	16,765	$	19,866
Earnings Before Income Taxes	$	15,727	$	19,017

	June 30,		March 31,
	2020		2020
	(dollars in thousands)
Current Assets	$	70,153	$	77,331
Non-Current Assets	$	99,488	$	93,093
Current Liabilities	$	18,302	$	17,197

INTEREST EXPENSE (Tables)

3 Months Ended

Jun. 30, 2020

Banking And Thrift Interest [Abstract]

Interest Expense, Net

The following components are included in Interest Expense, net:

	For the Three Months Ended June 30,
	2020		2019
	(dollars in thousands)
Interest Income	$	—	$	(4	)
Interest Expense		13,019		8,559
Other Expenses		1,022		291
Interest Expense, net	$	14,041	$	8,846

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value of Senior Notes

	Fair Value
	(dollars in thousands)
4.500% Senior Unsecured Notes Due 2026	$	363,765

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

3 Months Ended

Jun. 30, 2020

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 June 30, 2020	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	426,989		$	1,031		$	—		$	428,020
Cost of Goods Sold		—			324,692			2,349			—			327,041
Gross Profit		—			102,297			(1,318	)		—			100,979
Equity in Earnings of Unconsolidated Joint Venture		7,796			7,796			—			(7,796	)		7,796
Equity in Earnings of Subsidiaries		63,684			—			—			(63,684	)		—
Corporate General and Administrative Expenses		(14,411	)		(3,260	)		(118	)		—			(17,789	)
Gain on Sale of Businesses		51,973			—			—			—			51,973
Other Non-Operating Income (Loss)		(375	)		67			181			—			(127	)
Interest Expense, net		(14,028	)		(13	)		—			—			(14,041	)
Earnings before Income Taxes		94,639			106,887			(1,255	)		(71,480	)		128,791
Income Taxes		1,567			(34,502	)		350			—			(32,585	)
Net Earnings	$	96,206		$	72,385		$	(905	)	$	(71,480	)	$	96,206
Net Earnings	$	96,206		$	72,385		$	(905	)	$	(71,480	)	$	96,206
Net Actuarial Change in Benefit Plans, net of tax		25			25			—			(25	)		25
Comprehensive Earnings	$	96,231		$	72,410		$	(905	)	$	(71,505	)	$	96,231

Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Three Months Ended June 30, 2019	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	370,597		$	—		$	—		$	370,597
Cost of Goods Sold		—			295,268			—			—			295,268
Gross Profit		—			75,329			—			—			75,329
Equity in Earnings of Unconsolidated Joint Venture		9,432			9,432			—			(9,432	)		9,432
Equity in Earnings of Subsidiaries		55,742			—			—			(55,742	)		—
Corporate General and Administrative Expenses		(20,968	)		(286	)		—			—			(21,254	)
Other Non-Operating Income		426			(226	)		—			—			200
Interest Expense, net		(8,834	)		(12	)		—			—			(8,846	)
Earnings before Income Taxes		35,798			84,237			—			(65,174	)		54,861
Income Taxes		5,506			(19,063	)		—			—			(13,557	)
Net Earnings	$	41,304		$	65,174		$	—		$	(65,174	)	$	41,304
Net Earnings	$	41,304		$	65,174		$	—		$	(65,174	)	$	41,304
Net Actuarial Change in Benefit Plans, net of tax		33			33			—			(33	)		33
Comprehensive Earnings	$	41,337		$	65,207		$	—		$	(65,207	)	$	41,337

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet at June 30, 2020	Parent		Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current Assets -
Cash and Cash Equivalents	$	196,831	$	2,600		$	10		$	—		$	199,441
Accounts and Notes Receivable		1,463		192,271			830			—			194,564
Inventories		—		242,658			467			—			243,125
Income Tax Receivable		123,709		—			—			—			123,709
Prepaid and Other Current Assets		1,199		9,415			140			—			10,754
Total Current Assets		323,202		446,944			1,447			—			771,593
Property, Plant, and Equipment, net		6,329		1,714,389			5,645			—			1,726,363
Notes Receivable		—		9,068			—			—			9,068
Investment in Joint Venture		70		72,184			—			—			72,254
Investments in Subsidiaries and Receivables from Affiliates		2,543,210		215,702			468			(2,759,380	)		—
Deferred Income Taxes		9,246		—			43,742			(52,988	)		—
Operating Lease Right of Use Assets		9,576		19,373			955			—			29,904
Goodwill and Intangible Assets, net		—		395,673			—			—			395,673
Other Assets		5,029		5,280			—			—			10,309
	$	2,896,662	$	2,878,613		$	52,257		$	(2,812,368	)	$	3,015,164
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities-
Accounts Payable	$	3,052	$	77,371			1,562		$	—		$	81,985
Accrued Liabilities		38,027		34,963			2,492			—			75,482
Income Taxes Payable		32,130		—			—			—			32,130
Operating Lease Liabilities		1,197		5,702			3,537			—			10,436
Total Current Liabilities		74,406		118,036			7,591			—			200,033
Long-term Debt		1,492,088		—			—			—			1,492,088
Noncurrent Lease Liabilities		11,952		26,783			8,743			—			47,478
Other Long-term Liabilities		3,500		35,362			5,805			—			44,667
Payables to Affiliates		246,758		6,813,951			51,727			(7,112,436	)		—
Deferred Income Taxes		-		215,928			—			(52,988	)		162,940
Total Liabilities		1,828,704		7,210,060			73,866			(7,165,424	)		1,947,206
Total Stockholders’ Equity		1,067,958		(4,331,447	)		(21,609	)		4,353,056			1,067,958
	$	2,896,662	$	2,878,613		$	52,257		$	(2,812,368	)	$	3,015,164

Condensed Consolidating Balance Sheet at March 31, 2020	Parent		Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations			Consolidated
ASSETS
Current Assets -
Cash and Cash Equivalents	$	116,269	$	2,379		$	—	$	—		$	118,648
Accounts and Notes Receivable		531		151,255			—		—			151,786
Inventories		—		272,508			—		—			272,508
Income Tax Receivables		128,413		—			—		—			128,413
Prepaid and Other Current Assets		953		5,909			—		—			6,862
Total Current Assets		246,166		432,051			—		—			678,217
Property, Plant, and Equipment, net		6,606		1,755,503			—		—			1,762,109
Notes Receivable		—		9,139			—		—			9,139
Investment in Joint Venture		70		73,888			—		—			73,958
Operating Lease Right-of-Use Assets		9,765		20,765			—		—			30,530
Investments in Subsidiaries and Receivables from Affiliates		2,489,326		179,398			—		(2,668,724	)		—
Deferred Taxes		11,409		—			—		(11,409	)		—
Goodwill and Intangible Assets, net		—		396,463			—		—			396,463
Other Assets		4,417		6,187			—		—			10,604
	$	2,767,759	$	2,873,394		$	—	$	(2,680,133	)	$	2,961,020
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities-
Accounts Payable	$	6,365	$	79,832			—	$	—		$	86,197
Accrued Liabilities		33,409		39,884			—		—			73,293
Operating Lease Liabilities		1,180		9,027			—		—			10,207
Total Current Liabilities		40,954		128,743			—		—			169,697
Long-term Debt		1,567,315		—			—		—			1,567,315
Noncurrent Operating Lease Liabilities		12,249		37,560			—		—			49,809
Other Long-term Liabilities		—		39,689			—		—			39,689
Payables to Affiliates		179,398		6,324,504			—		(6,503,902	)		—
Deferred Income Taxes		—		178,076			—		(11,409	)		166,667
Total Liabilities		1,799,916		6,708,572			—		(6,515,311	)		1,993,177
Total Stockholders’ Equity		967,843		(3,835,178	)		—		3,835,178			967,843
	$	2,767,759	$	2,873,394		$	—	$	(2,680,133	)	$	2,961,020

Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows For the Three Months Ended June 30, 2020	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries			Eliminations		Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	$	21,481		$	70,804		$	3,028		$	—	$	95,313
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment		—			(25,991	)		—			—		(25,991	)
Proceeds from Sale of Businesses		93,482			—			—			—		93,482
Net Cash Used in Investing Activities		93,482			(25,991	)		—			—		67,491
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (Decrease) in Credit Facility		(75,000	)		—			—			—		(75,000	)
Dividends Paid to Stockholders		(4,163	)		—			—			—		(4,163	)
Payment of Debt Issuance Costs		(1,718	)		—			—			—		(1,718	)
Shares Redeemed to Settle Employee Taxes on Stock Compensation		(1,130	)		—			—			—		(1,130	)
Intra-entity Activity, net		47,610			(44,592	)		(3,018	)		—		—
Net Cash Provided by (Used in) Financing Activities		(34,401	)		(44,592	)		(3,018	)		—		(82,011	)
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH		80,562			221			10			—		80,793
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD		116,269			2,379			—			—		118,648
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$	196,831		$	2,600		$	10		$	—	$	199,441

Condensed Consolidating Statement of Cash Flows For the Three Months Ended June 30, 2019	Parent			Guarantor Subsidiaries			Non-Guarantor Subsidiaries		Eliminations		Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	$	(6,412	)	$	57,110		$	—	$	—	$	50,698
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment		—			(21,813	)		—		—		(21,813	)
Net Cash Used in Investing Activities		—			(21,813	)		—		—		(21,813	)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase in Credit Facility		185,000			—			—		—		185,000
Dividends Paid to Stockholders		(4,499	)		—			—		—		(4,499	)
Purchase and Retirement of Common Stock		(198,355	)		—			—		—		(198,355	)
Proceeds from Stock Option Exercises		396			—			—		—		396
Shares Redeemed to Settle Employee Taxes on Stock Compensation		(866	)		—			—		—		(866	)
Intra-entity Activity, net		35,838			(35,838	)		—		—		—
Net Cash Provided by (Used in) Financing Activities		17,514			(35,838	)		—		—		(18,324	)
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH		11,102			(541	)		—		—		10,561
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	$	16,881		$	2,281		$	—	$	—	$	19,162

Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash Payments:
Interest	$ 9,562	$ 5,241
Income Taxes		90
Operating Cash Flows used for Operating Leases	$ 3,195	3,961
Non-Cash Financing Activities:
Property and Equipment Purchases Included in Accrued Liabilities		$ 3,675

Acquisition - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended
	Mar. 06, 2020	Jun. 30, 2020
Business Acquisition [Line Items]
Depreciation and amortization		$ 5,300
Inventories		3,700
Kosmos Acquisition [Member]
Business Acquisition [Line Items]
Date of acquisition of business	Mar. 06, 2020
Purcahse price of acquisition	$ 669,000
Inventories adjustment to fair value		200
Intangible assets adjustment to fair value		2,800
Lease right-of-use assets adjustment to fair value		600
Lease obligations adjusment to fair value		600
Property plant and equipment preliminary adjustment		500
Inventories		28,568
Nonrecurring charges		$ 5,600

Preliminary Fair Values of the Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Business Acquisition [Line Items]
Inventories	$ 3,700
Lease Right-of-Use Assets	29,904	$ 30,530
Lease Obligations	(47,478)	(49,809)
Goodwill	329,137	$ 331,592
Kosmos Acquisition [Member]
Business Acquisition [Line Items]
Inventories	28,568
Property, Plant, and Equipment	476,942
Intangible Assets	38,300
Lease Right-of-Use Assets	4,478
Lease Obligations	(4,478)
Long-term Liabilities	(4,000)
Total Net Assets	539,810
Goodwill	129,127
Total Estimated Purchase Price	$ 668,937

Summary of the Fair Value Estimates of the Identifiable Intangible Assets (Detail) - Kosmos Acquisition [Member] - Estimated Fair Value [Member] $ in Thousands	3 Months Ended
	Jun. 30, 2020 USD ($)
Business Acquisition [Line Items]
Estimated Fair Value	$ 38,300
Permits [Member]
Business Acquisition [Line Items]
Intangible Assets, Useful Life	20 years
Estimated Fair Value	$ 1,500
Customer Relationships [Member]
Business Acquisition [Line Items]
Intangible Assets, Useful Life	15 years
Estimated Fair Value	$ 35,300
Trade Name and Technology [Member]
Business Acquisition [Line Items]
Intangible Assets, Useful Life	10 years
Estimated Fair Value	$ 1,500

Actual and Pro Forma Impact on Net Sales and Operating Loss (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Business Acquisition [Line Items]
Revenue	$ 428,020	$ 370,597
Operating Earnings	108,775	$ 84,761
Kosmos Acquisition [Member] \| Pro Forma [Member]
Business Acquisition [Line Items]
Revenue	47,555
Operating Earnings	$ 10,552

Unaudited Pro Forma Results (Detail) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2019 USD ($) $ / shares
Business Combinations [Abstract]
Revenue \| $	$ 399,766
Net Income \| $	$ 36,569
Earnings per share – basic \| $ / shares	$ 0.83
Earnings per share – diluted \| $ / shares	$ 0.83

Sale of Businesses - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended
	Apr. 17, 2020	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Gain (Loss) on sale of Subsidiary		$ 51,973
Assets		3,015,164		$ 2,961,020
Liabilities		1,947,206		$ 1,993,177
Revenue		428,020	$ 370,597
Operating Earnings		108,775	84,761
Mathews Readymix LLC and Western Aggregates LLC [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Purcahse price of acquisition	$ 93,500
Gain (Loss) on sale of Subsidiary	52,000
Assets	43,800
Liabilities	$ 2,300
Revenue		1,700	7,800
Operating Earnings		$ 100	$ 1,000

- Details

Name:	srt_ConsolidatedEntitiesAxis=exp_MathewsReadymixAndWesternAggregatesLLCMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

Revenue - Additional Information (Detail)	3 Months Ended
Revenue - Additional Information (Detail)	Jun. 30, 2020
Minimum [Member]
Supply Commitment [Line Items]
Long-term supply agreements maturity year	2020
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

Accounts and Notes Receivable - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Receivables [Abstract]
Allowance for doubtful accounts	$ 9.9	$ 12.4
Notes Receivable, total	9.7
Notes Receivable, current	$ 0.7
Notes Receivable interest rate	3.60%
Notes Receivable, maturity description	Remaining unpaid amounts, plus accrued interest, mature in fiscal 2025 and 2026.

Schedule of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Inventory [Line Items]
Inventories	$ 243,125	$ 272,508
Raw Materials and Materials-in-Progress [Member]
Inventory [Line Items]
Inventories	96,084	110,558
Finished Cement [Member]
Inventory [Line Items]
Inventories	33,590	43,538
Aggregates [Member]
Inventory [Line Items]
Inventories	3,562	8,416
Gypsum Wallboard [Member]
Inventory [Line Items]
Inventories	4,088	4,211
Paperboard [Member]
Inventory [Line Items]
Inventories	5,424	5,715
Frac Sand [Member]
Inventory [Line Items]
Inventories	467	386
Repair Parts and Supplies [Member]
Inventory [Line Items]
Inventories	87,791	88,095
Fuel and Coal [Member]
Inventory [Line Items]
Inventories	$ 12,119	$ 11,589

Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Accounts Payable And Accrued Liabilities Current [Abstract]
Payroll and Incentive Compensation	$ 16,376	$ 25,584
Benefits	14,281	12,521
Interest	7,353	4,080
Property Taxes	9,002	6,676
Power and Fuel	1,365	1,353
Legal and Professional	16,110	16,096
Sales and use Tax	1,442	1,085
Other	9,553	5,898
Accrued Expenses, Total	$ 75,482	$ 73,293

Leases - Additional Information (Detail)	Jun. 30, 2020
Minimum [Member]
Lessee Lease Description [Line Items]
Operating lease term	1 year
Maximum [Member]
Lessee Lease Description [Line Items]
Operating lease term	20 years

Schedule of Lease Expense for Operating and Short-Term Leases (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Leases [Abstract]
Operating Lease Cost	$ 2,006	$ 3,947
Short-term Lease Cost	759	584
Total Lease Cost	$ 2,765	$ 4,531

Schedule of Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Operating Leases:
Operating Lease Right-of-Use Assets	$ 29,904	$ 30,530
Current Operating Lease Liabilities	10,436	10,207
Noncurrent Operating Lease Liabilities	47,478	49,809
Total Operating Lease Liabilities	$ 57,914	$ 60,016

Schedule of Future Payments for Operating Leases (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Leases [Abstract]
2021 (remaining nine months)	$ 9,301
2022	10,887
2023	10,062
2024	8,216
2025	6,879
Thereafter	24,624
Total Lease Payments	69,969
Less: Imputed Interest	(12,055)
Present Value of Lease Liabilities	$ 57,914	$ 60,016
Weighted-Average Remaining Lease Term (in years)	9 years 1 month 6 days
Weighted-Average Discount Rate	3.78%

Share-Based Employee Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	May 31, 2020	Jun. 30, 2020	Jun. 30, 2019	Aug. 07, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant		3,469,927		3,000,000
Stock option expense		$ 1.7	$ 1.1
Aggregate intrinsic value for outstanding options		7.4
Aggregate intrinsic value for exercisable options		5.5
Total intrinsic value of options exercised		0.0
Restricted stock or unit expense		$ 3.0	$ 7.1
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	96,476
Reduced percentage of shares earned in stock options plan		66.70%
Stock based compensation plan, description		The performance criteria for the Fiscal 2021 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, 2021. 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 granted stock options 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, 2022
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, 2024
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	80,396
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		$ 10.0
Weighted-average period of recognition of unrecognized compensation cost		2 years 9 months 18 days
Performance Vesting Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant	82,722
Stock based compensation plan, description		The performance criteria for the Fiscal 2021 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, 2021. 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, 2021
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	68,936
Share-based compensation vesting period	4 years
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average period of recognition of unrecognized compensation cost		2 years 10 months 24 days
Weighted average grant date fair value, shares awarded		$ 60.21
Unrecognized compensation cost		$ 17.8

Weighted-Average Assumptions Used to Value Option Awards (Detail) - Long Term Compensation Plan [Member] - Stock Options [Member]	3 Months Ended
	Jun. 30, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Expected Volatility	37.90%
Risk Free Interest Rate	0.50%
Expected Life	6 years

Stock Option Activity (Detail) - $ / shares	3 Months Ended
Stock Option Activity (Detail) - $ / shares	Jun. 30, 2020	Jun. 30, 2020
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Shares, Outstanding Options at March 31, 2020	1,160,091
Number of Shares, Granted	178,946
Number of Shares, Cancelled	(12,094)
Number of Shares, Outstanding Options at June 30, 2020	1,160,091	1,326,943
Number of Shares, Options Exercisable at June 30, 2020	914,683
Weighted-Average Exercise Price, Outstanding Options at March 31, 2020	$ 80.36
Weighted-Average Exercise Price, Granted	60.20
Weighted-Average Exercise Price, Cancelled	91.58
Weighted Average Fair Value of Options Granted During the Year	$ 22.04

Stock Options Outstanding (Detail)	3 Months Ended
Stock Options Outstanding (Detail)	Jun. 30, 2020 $ / shares shares
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Options Outstanding, Number of Shares Outstanding \| shares	1,326,943
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	6 years 1 month 28 days
Options Outstanding, Weighted-Average Exercise Price	$ 77.54
Options Exercisable , Number of Shares Outstanding \| shares	914,683
Options Exercisable, Weighted-Average Exercise Price	$ 76.39
$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 1 month 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)	1 year 11 months 15 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	446,709
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	6 years 11 months 23 days
Options Outstanding, Weighted-Average Exercise Price	$ 67.55
Options Exercisable , Number of Shares Outstanding \| shares	255,357
Options Exercisable, Weighted-Average Exercise Price	$ 72.53
$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	756,594
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	6 years 5 months 8 days
Options Outstanding, Weighted-Average Exercise Price	$ 91.49
Options Exercisable , Number of Shares Outstanding \| shares	535,686
Options Exercisable, Weighted-Average Exercise Price	$ 89.34

Summary of Activity for Nonvested Restricted Shares (Detail) - Restricted Stock [Member]	3 Months Ended
	Jun. 30, 2020 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Nonvested Restricted Stock March 31, 2020	233,120
Number of Shares, Granted	152,309
Number of Shares, Vested	(49,727)
Number of Shares, Forfeited	(6,127)
Number of Shares, Nonvested Restricted Stock at June 30, 2020	329,575
Weighted Average Grant Date Fair Value, Nonvested Restricted Stock March 31, 2020 \| $ / shares	$ 78.94
Weighted Average Grant Date Fair Value, Granted \| $ / shares	60.21
Weighted Average Grant Date Fair Value, Vested \| $ / shares	55.50
Weighted Average Grant Date Fair Value, Forfeited \| $ / shares	$ 91.58

Calculation of Basic and Diluted Common Shares Outstanding (Detail) - shares	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Weighted Average Shares of Common Stock Outstanding	41,410,794	43,870,222
Assumed Exercise of Outstanding Dilutive Options	130,687	750,654
Less Shares Repurchased from Proceeds of Assumed Exercised Options	(61,690)	(591,647)
Restricted Stock Units	83,477	120,982
Weighted Average Common Stock and Dilutive Securities Outstanding	41,563,268	44,150,211
Shares Excluded Due to Anti-dilution Effects	1,065,648	327,761

Components of Net Periodic (Benefit) Cost (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Compensation And Retirement Disclosure [Abstract]
Service Cost - Benefits Earned During the Period		$ 85
Interest Cost of Projected Benefit Obligation	$ 304	338
Expected Return on Plan Assets	(355)	(426)
Recognized Net Actuarial Loss	33	43
Net Periodic Pension (Benefit) Cost	$ (18)	$ 40

Income Taxes - Additional Information (Detail)	3 Months Ended
Income Taxes - Additional Information (Detail)	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Effective tax rate	25.00%	25.00%
Statutory tax rate	21.00%

Long-Term Debt (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Aug. 02, 2016
Debt Instrument [Line Items]
Revolving Credit Facility	$ 485,000	$ 560,000	$ 485,000
Total Debt	1,500,000	1,575,000
Less: Debt Origination Costs	(7,912)	(7,685)
Long-term Debt	1,492,088	1,567,315
4.500% Senior Unsecured Notes Due 2026 [Member]
Debt Instrument [Line Items]
Total Debt	350,000	350,000		$ 350,000
Term Loan [Member]
Debt Instrument [Line Items]
Total Debt	$ 665,000	$ 665,000

- 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 ($)				3 Months Ended
	Dec. 20, 2019	Aug. 02, 2016	Oct. 31, 2014	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019
Debt Instrument [Line Items]
Supplementary leverage ratio			450.00%
Interest coverage ratio			250.00%
Borrowings outstanding under Credit Facility				$ 485,000,000	$ 560,000,000		$ 485,000,000.0
Credit Facility, borrowings available							$ 260,000,000.0
Letter of Credit Facility				40,000,000.0
Outstanding letters of credit , amount				5,000,000.0		$ 5,000,000.0
Debt instrument, principal amount				$ 1,500,000,000	1,575,000,000
Maturity Period 2021 [Member]
Debt Instrument [Line Items]
Unused line of credit commitment fee based on leverage ratio			0.15%
Maturity Period 2022 [Member]
Debt Instrument [Line Items]
Unused line of credit commitment fee based on leverage ratio			0.20%
Maximum [Member] \| Maturity Period 2021 [Member]
Debt Instrument [Line Items]
Unused line of credit commitment fee based on leverage ratio			0.30%
Maximum [Member] \| Maturity Period 2022 [Member]
Debt Instrument [Line Items]
Unused line of credit commitment fee based on leverage ratio			0.40%
London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member] \| Maturity Period 2021 [Member]
Debt Instrument [Line Items]
Variable margin			1.25%
London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member] \| Maturity Period 2021 [Member]
Debt Instrument [Line Items]
Variable margin			2.00%
NYFRB [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Consolidated Funded Indebtedness Ratio	1.50%
NYFRB [Member] \| Minimum [Member] \| Maturity Period 2022 [Member]
Debt Instrument [Line Items]
Variable margin			1.50%
NYFRB [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Consolidated Funded Indebtedness Ratio	2.50%
NYFRB [Member] \| Maximum [Member] \| Maturity Period 2022 [Member]
Debt Instrument [Line Items]
Variable margin			2.50%
Term Loan Agreement [Member]
Debt Instrument [Line Items]
Credit facility, interest rate description				Borrowings under the Term Loan Agreement bear interest, at our option, at a variable rate equal to either (i) the Alternate Base Rate (as defined in the Term Loan Agreement and consistent with the Revolving Credit Facility), plus an agreed spread (ranging from 50 to 150 basis points), or (ii) the Adjusted LIBO Rate (as defined in the Term Loan Agreement) plus an agreed spread (ranging from 150 to 250 basis points), which is established quarterly based on the Company's then Leverage Ratio (as defined in the Term Loan Agreement and consistent with the Revolving Credit Facility). The Company must also maintain a Leverage Ratio and Interest Coverage Ratio consistent with the Revolving Credit Facility.
Term loan facility, unused borrowing capacity, Amount				$ 665,000.0
Term loan Maturity Date				Aug. 02, 2022
Term Loan Agreement [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Variable margin	0.50%
Term Loan Agreement [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Variable margin	1.50%
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] \| On or After August 1, 2019 and Prior to August 1, 2021 [Member]
Debt Instrument [Line Items]
Redemption price, percentage		100.00%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility, principal balance				$ 750,000,000.0
Credit Facility, available at the end				$ 665,000,000.0
Credit Facility, termination date				Aug. 02, 2022
Revolving Credit Facility [Member] \| Swingline Loan [Member]
Debt Instrument [Line Items]
Credit Facility, principal balance				$ 25,000,000.0
Line of Credit \| Maximum [Member]
Debt Instrument [Line Items]
Variable margin			0.50%
Letter of Credit [Member]
Debt Instrument [Line Items]
Unused line of credit commitment fee based on leverage ratio				0.125%

Schedule of Senior Unsecured Notes Redemption Prices (Detail) - 4.500% Senior Unsecured Notes Due 2026 [Member]	3 Months Ended
	Jun. 30, 2020
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 Information - Additional Information (Detail) $ in Millions	3 Months Ended
	Jun. 30, 2020 Location Facility Terminal Plant Sector Segment	Jun. 30, 2019 USD ($)
Segment Reporting [Abstract]
Number of sectors \| Sector	3
Number of reportable business segments \| Segment	5
Cement plant locations \| Location	8
Slag grinding facility \| Facility	1
Cement distribution terminals \| Terminal	29
Readymix concrete batch plants \| Plant	23
Aggregates processing plants \| Plant	4
Gypsum wallboard 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	2
Proportionate consolidation of share of joint venture revenues and operating earnings	50.00%
Accrued capital expenditures \| $		$ 3.7

Financial Information Related to Operations by Segment (Detail) $ in Thousands	3 Months Ended
	Jun. 30, 2020 USD ($) kT	Jun. 30, 2019 USD ($) kT	Mar. 31, 2020 USD ($)
Segment Reporting Information [Line Items]
Revenue	$ 428,020	$ 370,597
Less: Joint Venture Revenue	(25,300)	(27,505)
Operating Earnings	108,775	84,761
Corporate General and Administrative Expense	(17,789)	(21,254)
Gain on Sale of Businesses	51,973
Other Non-Operating Income (Loss)	(127)	200
Earnings Before Interest and Income Taxes	142,832	63,707
Interest Expense, Net	(14,041)	(8,846)
Earnings before Income Taxes	128,791	54,861
Capital Expenditures	25,991	25,488
Depreciation, Depletion and Amortization	31,937	27,960
Identifiable Assets	3,015,164		$ 2,961,020
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	473,526	419,747
Operating Earnings	60,455	36,121
Operating Segments [Member] \| Wholly-Owned [Member]
Segment Reporting Information [Line Items]
Operating Earnings	52,659	26,689
Operating Segments [Member] \| Joint Venture [Member]
Segment Reporting Information [Line Items]
Operating Earnings	7,796	9,432
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	(20,206)	(21,645)
Revenue	(20,206)	(21,645)
Other, net [Member]
Segment Reporting Information [Line Items]
Identifiable Assets	348,505		271,145
Cement [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	$ 261,411	$ 195,313
Cement Sales Volume \| kT	2,085	1,550
Operating Earnings	$ 60,455	$ 36,121
Capital Expenditures	10,348	10,537
Depreciation, Depletion and Amortization	19,243	$ 14,218
Identifiable Assets	$ 1,999,175		1,980,306
Cement [Member] \| Operating Segments [Member] \| Wholly-Owned [Member]
Segment Reporting Information [Line Items]
Cement Sales Volume \| kT	1,866	1,318
Cement [Member] \| Operating Segments [Member] \| Joint Venture [Member]
Segment Reporting Information [Line Items]
Cement Sales Volume \| kT	219	232
Cement [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	$ (6,031)	$ (4,253)
Concrete and Aggregates [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	44,190	39,778
Operating Earnings	5,418	4,434
Capital Expenditures	1,261	595
Depreciation, Depletion and Amortization	2,721	2,191
Identifiable Assets	99,298		136,041
Concrete and Aggregates [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	(106)	(377)
Gypsum Wallboard [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	130,150	126,724
Operating Earnings	41,325	37,932
Capital Expenditures	6,512	1,931
Depreciation, Depletion and Amortization	5,200	4,952
Identifiable Assets	372,628		375,946
Paperboard [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	36,744	42,700
Operating Earnings	2,895	9,944
Capital Expenditures	7,870	12,360
Depreciation, Depletion and Amortization	3,352	2,163
Identifiable Assets	187,511		183,288
Paperboard [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	(14,069)	(17,015)
Oil and Gas Proppants [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	1,031	15,232
Operating Earnings	(1,318)	(3,670)
Capital Expenditures		65
Depreciation, Depletion and Amortization	121	3,839
Identifiable Assets	8,047		$ 14,294
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Depreciation, Depletion and Amortization	$ 1,300	$ 597

Segment Breakdown of Goodwill (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Segment Reporting Information [Line Items]
Goodwill	$ 329,137	$ 331,592
Cement [Member]
Segment Reporting Information [Line Items]
Goodwill	203,342	205,797
Concrete and Aggregates [Member]
Segment Reporting Information [Line Items]
Goodwill	1,639	1,639
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

Summarized Financial Information for Joint Venture Unconsolidated (Detail) - Joint Venture [Member] - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020
Related Party Transaction [Line Items]
Revenue	$ 50,600	$ 55,010
Gross Margin	16,765	19,866
Earnings Before Income Taxes	15,727	$ 19,017
Current Assets	70,153		$ 77,331
Non-Current Assets	99,488		93,093
Current Liabilities	$ 18,302		$ 17,197

Interest Expense, Net (Detail) - USD ($) $ in Thousands	3 Months Ended
Interest Expense, Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Jun. 30, 2019
Interest Income (Expense), Net [Abstract]
Interest Income		$ (4)
Interest Expense	$ 13,019	8,559
Other Expenses	1,022	291
Interest Expense, net	$ 14,041	$ 8,846

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Letters of credit outstanding, amount	$ 5,000,000.0	$ 5,000,000.0
Outstanding guarantees	0
Contingently liable for performance, current	$ 29,900,000

Fair Value of Senior Notes (Detail) $ in Thousands	Jun. 30, 2020 USD ($)
4.500% Senior Unsecured Notes Due 2026 [Member]
Fair Value Of Financial Instruments [Line Items]
Fair Value of long term debt	$ 363,765

Fair Value of Senior Notes (Parenthetical) (Detail) - 4.500% Senior Unsecured Notes Due 2026 [Member]	3 Months Ended
	Jun. 30, 2020	Aug. 02, 2016
Fair Value Of Financial Instruments [Line Items]
Debt instrument, interest rate	4.50%	4.50%
Debt instrument, maturity year	2026

Consolidated Statements of Earnings (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Revenue	$ 428,020	$ 370,597
Cost of Goods Sold	327,041	295,268
Gross Profit	100,979	75,329
Equity in Earnings of Unconsolidated Joint Venture	7,796	9,432
Corporate General and Administrative Expense	(17,789)	(21,254)
Gain on Sale of Businesses	51,973
Other Non-Operating Income (Loss)	(127)	200
Interest Expense, net	(14,041)	(8,846)
Earnings before Income Taxes	128,791	54,861
Income Taxes	(32,585)	(13,557)
Net Earnings	96,206	41,304
Net Actuarial Change in Benefit Plans, net of tax	25	33
Comprehensive Earnings	96,231	41,337
Eliminations [Member]
Equity in Earnings of Unconsolidated Joint Venture	(7,796)	(9,432)
Equity in Earnings of Subsidiaries	(63,684)	(55,742)
Earnings before Income Taxes	(71,480)	(65,174)
Net Earnings	(71,480)	(65,174)
Net Actuarial Change in Benefit Plans, net of tax	(25)	(33)
Comprehensive Earnings	(71,505)	(65,207)
Parent [Member] \| Reportable Legal Entities [Member]
Equity in Earnings of Unconsolidated Joint Venture	7,796	9,432
Equity in Earnings of Subsidiaries	63,684	55,742
Corporate General and Administrative Expense	(14,411)	(20,968)
Gain on Sale of Businesses	51,973
Other Non-Operating Income (Loss)	(375)	426
Interest Expense, net	(14,028)	(8,834)
Earnings before Income Taxes	94,639	35,798
Income Taxes	1,567	5,506
Net Earnings	96,206	41,304
Net Actuarial Change in Benefit Plans, net of tax	25	33
Comprehensive Earnings	96,231	41,337
Guarantor Subsidiaries [Member] \| Reportable Legal Entities [Member]
Revenue	426,989	370,597
Cost of Goods Sold	324,692	295,268
Gross Profit	102,297	75,329
Equity in Earnings of Unconsolidated Joint Venture	7,796	9,432
Corporate General and Administrative Expense	(3,260)	(286)
Other Non-Operating Income (Loss)	67	(226)
Interest Expense, net	(13)	(12)
Earnings before Income Taxes	106,887	84,237
Income Taxes	(34,502)	(19,063)
Net Earnings	72,385	65,174
Net Actuarial Change in Benefit Plans, net of tax	25	33
Comprehensive Earnings	72,410	$ 65,207
Non Guarantor Subsidiaries [Member] \| Reportable Legal Entities [Member]
Revenue	1,031
Cost of Goods Sold	2,349
Gross Profit	(1,318)
Corporate General and Administrative Expense	(118)
Other Non-Operating Income (Loss)	181
Earnings before Income Taxes	(1,255)
Income Taxes	350
Net Earnings	(905)
Comprehensive Earnings	$ (905)

Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019
Current Assets -
Cash and Cash Equivalents	$ 199,441	$ 118,648
Accounts and Notes Receivable	194,564	151,786
Inventories	243,125	272,508
Income Tax Receivable	123,709	128,413
Prepaid and Other Current Assets	10,754	6,862
Total Current Assets	771,593	678,217
Property, Plant, and Equipment, net	1,726,363	1,762,109
Notes Receivable	9,068	9,139
Investment in Joint Venture	72,254	73,958
Operating Lease Right-of-Use Assets	29,904	30,530
Goodwill and Intangible Assets, net	395,673	396,463
Other Assets	10,309	10,604
Total Assets	3,015,164	2,961,020
Current Liabilities -
Accounts Payable	81,985	86,197
Accrued Liabilities	75,482	73,293
Income Taxes Payable	32,130
Operating Lease Liabilities	10,436	10,207
Total Current Liabilities	200,033	169,697
Long-term Debt	1,492,088	1,567,315
Noncurrent Operating Lease Liabilities	47,478	49,809
Other Long-term Liabilities	44,667	39,689
Deferred Income Taxes	162,940	166,667
Total Liabilities	1,947,206	1,993,177
Total Stockholders’ Equity	1,067,958	967,843	$ 1,055,266	$ 1,209,487
Liabilities and Stockholders' Equity, Total	3,015,164	2,961,020
Eliminations [Member]
Current Assets -
Investments in Subsidiaries and Receivables from Affiliates	(2,759,380)	(2,668,724)
Deferred Income Taxes	(52,988)	(11,409)
Total Assets	(2,812,368)	(2,680,133)
Current Liabilities -
Payables to Affiliates	(7,112,436)	(6,503,902)
Deferred Income Taxes	(52,988)	(11,409)
Total Liabilities	(7,165,424)	(6,515,311)
Total Stockholders’ Equity	4,353,056	3,835,178
Liabilities and Stockholders' Equity, Total	(2,812,368)	(2,680,133)
Parent [Member] \| Reportable Legal Entities [Member]
Current Assets -
Cash and Cash Equivalents	196,831	116,269
Accounts and Notes Receivable	1,463	531
Income Tax Receivable	123,709	128,413
Prepaid and Other Current Assets	1,199	953
Total Current Assets	323,202	246,166
Property, Plant, and Equipment, net	6,329	6,606
Investment in Joint Venture	70	70
Investments in Subsidiaries and Receivables from Affiliates	2,543,210	2,489,326
Deferred Income Taxes	9,246	11,409
Operating Lease Right-of-Use Assets	9,576	9,765
Other Assets	5,029	4,417
Total Assets	2,896,662	2,767,759
Current Liabilities -
Accounts Payable	3,052	6,365
Accrued Liabilities	38,027	33,409
Income Taxes Payable	32,130
Operating Lease Liabilities	1,197	1,180
Total Current Liabilities	74,406	40,954
Long-term Debt	1,492,088	1,567,315
Noncurrent Operating Lease Liabilities	11,952	12,249
Other Long-term Liabilities	3,500
Payables to Affiliates	246,758	179,398
Total Liabilities	1,828,704	1,799,916
Total Stockholders’ Equity	1,067,958	967,843
Liabilities and Stockholders' Equity, Total	2,896,662	2,767,759
Guarantor Subsidiaries [Member] \| Reportable Legal Entities [Member]
Current Assets -
Cash and Cash Equivalents	2,600	2,379
Accounts and Notes Receivable	192,271	151,255
Inventories	242,658	272,508
Prepaid and Other Current Assets	9,415	5,909
Total Current Assets	446,944	432,051
Property, Plant, and Equipment, net	1,714,389	1,755,503
Notes Receivable	9,068	9,139
Investment in Joint Venture	72,184	73,888
Investments in Subsidiaries and Receivables from Affiliates	215,702	179,398
Operating Lease Right-of-Use Assets	19,373	20,765
Goodwill and Intangible Assets, net	395,673	396,463
Other Assets	5,280	6,187
Total Assets	2,878,613	2,873,394
Current Liabilities -
Accounts Payable	77,371	79,832
Accrued Liabilities	34,963	39,884
Operating Lease Liabilities	5,702	9,027
Total Current Liabilities	118,036	128,743
Noncurrent Operating Lease Liabilities	26,783	37,560
Other Long-term Liabilities	35,362	39,689
Payables to Affiliates	6,813,951	6,324,504
Deferred Income Taxes	215,928	178,076
Total Liabilities	7,210,060	6,708,572
Total Stockholders’ Equity	(4,331,447)	(3,835,178)
Liabilities and Stockholders' Equity, Total	2,878,613	$ 2,873,394
Non Guarantor Subsidiaries [Member] \| Reportable Legal Entities [Member]
Current Assets -
Cash and Cash Equivalents	10
Accounts and Notes Receivable	830
Inventories	467
Prepaid and Other Current Assets	140
Total Current Assets	1,447
Property, Plant, and Equipment, net	5,645
Investments in Subsidiaries and Receivables from Affiliates	468
Deferred Income Taxes	43,742
Operating Lease Right-of-Use Assets	955
Total Assets	52,257
Current Liabilities -
Accounts Payable	1,562
Accrued Liabilities	2,492
Operating Lease Liabilities	3,537
Total Current Liabilities	7,591
Noncurrent Operating Lease Liabilities	8,743
Other Long-term Liabilities	5,805
Payables to Affiliates	51,727
Total Liabilities	73,866
Total Stockholders’ Equity	(21,609)
Liabilities and Stockholders' Equity, Total	$ 52,257

Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	$ 95,313	$ 50,698
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment	(25,991)	(21,813)
Proceeds from Sale of Businesses	93,482
Net Cash Provided by (Used in) Investing Activities	67,491	(21,813)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (Decrease) in Credit Facility	(75,000)	185,000
Dividends Paid to Stockholders	(4,163)	(4,499)
Purchase and Retirement of Common Stock		(198,355)
Proceeds from Stock Option Exercises		396
Payment of Debt Issuance Costs	(1,718)
Shares Redeemed to Settle Employee Taxes on Stock Compensation	(1,130)	(866)
Net Cash Used in Financing Activities	(82,011)	(18,324)
NET INCREASE IN CASH AND CASH EQUIVALENTS	80,793	10,561
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	118,648	8,601
CASH AND CASH EQUIVALENTS AT END OF PERIOD	199,441	19,162
Parent [Member] \| Reportable Legal Entities [Member]
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	21,481	(6,412)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from Sale of Businesses	93,482
Net Cash Provided by (Used in) Investing Activities	93,482
CASH FLOWS FROM FINANCING ACTIVITIES
Increase (Decrease) in Credit Facility	(75,000)	185,000
Dividends Paid to Stockholders	(4,163)	(4,499)
Purchase and Retirement of Common Stock		(198,355)
Proceeds from Stock Option Exercises		396
Payment of Debt Issuance Costs	(1,718)
Shares Redeemed to Settle Employee Taxes on Stock Compensation	(1,130)	(866)
Intra-entity Activity, net	47,610	35,838
Net Cash Used in Financing Activities	(34,401)	17,514
NET INCREASE IN CASH AND CASH EQUIVALENTS	80,562	11,102
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	116,269	5,779
CASH AND CASH EQUIVALENTS AT END OF PERIOD	196,831	16,881
Guarantor Subsidiaries [Member] \| Reportable Legal Entities [Member]
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	70,804	57,110
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment	(25,991)	(21,813)
Net Cash Provided by (Used in) Investing Activities	(25,991)	(21,813)
CASH FLOWS FROM FINANCING ACTIVITIES
Intra-entity Activity, net	(44,592)	(35,838)
Net Cash Used in Financing Activities	(44,592)	(35,838)
NET INCREASE IN CASH AND CASH EQUIVALENTS	221	(541)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD	2,379	2,822
CASH AND CASH EQUIVALENTS AT END OF PERIOD	2,600	$ 2,281
Non Guarantor Subsidiaries [Member] \| Reportable Legal Entities [Member]
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	3,028
CASH FLOWS FROM FINANCING ACTIVITIES
Intra-entity Activity, net	(3,018)
Net Cash Used in Financing Activities	(3,018)
NET INCREASE IN CASH AND CASH EQUIVALENTS	10
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 10

Segment Information - Additional Information (Detail) $ in Millions	3 Months Ended
	Jun. 30, 2020 Location Facility Terminal Plant Sector Segment	Jun. 30, 2019 USD ($)
Segment Reporting [Abstract]
Number of sectors \| Sector	3
Number of reportable business segments \| Segment	5
Cement plant locations \| Location	8
Slag grinding facility \| Facility	1
Cement distribution terminals \| Terminal	29
Readymix concrete batch plants \| Plant	23
Aggregates processing plants \| Plant	4
Gypsum wallboard 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	2
Proportionate consolidation of share of joint venture revenues and operating earnings	50.00%
Accrued capital expenditures \| $		$ 3.7