0001564590-21-029341 | 10-K | XBRL Viewer

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Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Mar. 31, 2021	May 18, 2021	Sep. 30, 2020
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Trading Symbol	EXP
Entity Registrant Name	EAGLE MATERIALS INC.
Entity Central Index Key	0000918646
Current Fiscal Year End Date	--03-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		42,380,309
Entity Public Float			$ 3.6
Title of 12(b) Security	Common Stock (par value $.01 per share)
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 Annual Report	true
Document Transition Report	false
Documents Incorporated by Reference	Portions of the Proxy Statement for the Annual Meeting of Stockholders of Eagle Materials Inc. to be held on August 3, 2021 are incorporated by reference in Part III of this Report.

Consolidated Statements of Earnings - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
Revenue	$ 1,622,642	$ 1,404,033	$ 1,310,254
Cost of Goods Sold	1,214,287	1,061,367	962,152
Gross Profit	408,355	342,666	348,102
Equity in Earnings of Unconsolidated Joint Venture	37,441	42,585	38,565
Corporate General and Administrative Expense	(49,511)	(65,410)	(37,371)
Gain on Sale of Businesses	51,973
Impairment Losses		(25,131)	(37,179)
Litigation Settlements and Losses			(1,800)
Other Non-Operating Income (Loss)	20,274	(594)	1,835
Interest Expense, net	(44,420)	(38,421)	(28,374)
Earnings from Continuing Operations Before Income Taxes	424,112	255,695	283,778
Income Taxes	(89,946)	(24,504)	(60,272)
Earnings from Continuing Operations	334,166	231,191	223,506
Earnings (Loss) from Discontinued Operations, net of Income Taxes	5,278	(160,297)	(154,646)
Net Earnings	$ 339,444	$ 70,894	$ 68,860
BASIC EARNINGS (LOSS) PER SHARE
Continuing Operations	$ 8.04	$ 5.50	$ 4.79
Discontinued Operations	0.13	(3.81)	(3.32)
Net Earnings	8.17	1.69	1.48
DILUTED EARNINGS (LOSS) PER SHARE
Continuing Operations	7.99	5.47	4.76
Discontinued Operations	0.13	(3.79)	(3.30)
Net Earnings	$ 8.12	$ 1.68	$ 1.47
AVERAGE SHARES OUTSTANDING
Basic	41,543,067	42,021,892	46,620,894
Diluted	41,826,709	42,285,343	46,932,380
CASH DIVIDENDS PER SHARE	$ 0.10	$ 0.40	$ 0.40

Consolidated Statements of Comprehensive Earnings - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Net Earnings	$ 339,444	$ 70,894	$ 68,860
Net Actuarial Change in Defined Benefit Plans:
Unrealized Gain During the Period, net of tax expense of $33, $41 and $68	101	131	224
Amortization of Net Actuarial Loss, net of tax (expense) benefit of ($49), $(120), and $149	(154)	(396)	472
Comprehensive Earnings	$ 339,391	$ 70,629	$ 69,556

- Definition

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

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+ Details

Consolidated Statements of Comprehensive Earnings (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Unrealized gain during the period, tax expense	$ 33	$ 41	$ 68
Amortization of Net Actuarial Loss, tax benefit	$ (49)	$ (120)	$ 149

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Current Assets -
Cash and Cash Equivalents	$ 263,520	$ 118,648
Restricted Cash	5,000
Accounts and Notes Receivable, net	147,133	145,808
Inventories	235,749	272,121
Income Tax Receivable	2,838	128,413
Prepaid and Other Assets	7,449	6,135
Current Assets of Discontinued Operations		7,092
Total Current Assets	661,689	678,217
Property, Plant, and Equipment, net	1,659,100	1,756,417
Notes Receivable	8,419	9,139
Investment in Joint Venture	75,399	73,958
Operating Lease Right-of-Use Assets	25,811	29,483
Goodwill and Intangible Assets, net	392,315	396,463
Other Assets	15,948	10,604
Assets of Discontinued Operations		6,739
Total Assets	2,838,681	2,961,020
Current Liabilities -
Accounts Payable	84,171	84,183
Accrued Liabilities	78,840	70,442
Operating Lease Liabilities	6,343	6,585
Current Liabilities of Discontinued Operations		8,487
Total Current Liabilities	169,354	169,697
Long-term Debt	1,008,616	1,567,315
Noncurrent Operating Lease Liabilities	34,444	40,239
Other Long-term Liabilities	41,291	33,832
Deferred Income Taxes	225,986	166,667
Liabilities of Discontinued Operations		15,427
Total Liabilities	1,479,691	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 42,370,878 and 41,649,041 Shares, respectively	424	416
Capital in Excess of Par Value	62,497	10,943
Accumulated Other Comprehensive Losses	(3,440)	(3,581)
Retained Earnings	1,299,509	960,065
Total Stockholders’ Equity	1,358,990	967,843
Liabilities and Stockholders' Equity, Total	$ 2,838,681	$ 2,961,020

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2021	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	42,370,878	41,649,041
Common Stock, Outstanding	42,370,878	41,649,041

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES
Net Earnings	$ 339,444	$ 70,894	$ 68,860
Adjustments to Reconcile Net Earnings to Net Cash Provided by Operating Activities, Net of Effect of Non-Cash Activity:
Depreciation, Depletion, and Amortization	129,087	113,518	122,535
Impairment Losses		224,267	220,265
Deferred Income Tax Provision	59,319	75,987	(28,371)
Stock Compensation Expense	15,293	19,823	15,109
Gain on Sale of Businesses	(61,203)
Equity in Earnings of Unconsolidated Joint Venture	(37,441)	(42,585)	(38,565)
Distributions from Joint Venture	36,000	33,500	34,250
Changes in Operating Assets and Liabilities:
Accounts and Notes Receivable	2,127	(25,005)	10,180
Inventories	30,002	26,729	(19,016)
Accounts Payable and Accrued Liabilities	9,541	17,265	(31,949)
Other Assets	(6,455)	7,841	(3,284)
Income Taxes Receivable	127,359	(122,933)	270
Net Cash Provided by Operating Activities	643,073	399,301	350,284
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment	(53,933)	(132,119)	(168,873)
Acquisition Spending		(699,361)
Proceeds from Sale of Businesses	91,022
Proceeds from Sales of Property, Plant, and Equipment		400	2,281
Net Cash Provided by (Used in) Investing Activities	37,089	(831,080)	(166,592)
CASH FLOWS FROM FINANCING ACTIVITIES
(Decrease) Increase in Revolving Credit Facility	(560,000)	250,000	70,000
Repayment of Private Placement Senior Unsecured Notes		(36,500)
Issuance of Term Loan		665,000
Dividends Paid to Stockholders	(4,163)	(17,142)	(18,927)
Purchase and Retirement of Common Stock		(313,887)	(271,988)
Proceeds from Stock Option Exercises	40,455	3,298	2,103
Shares Redeemed to Settle Employee Taxes on Stock Compensation	(4,186)	(4,063)	(4,347)
Payment of Debt Issuance Costs	(2,396)	(4,880)
Net Cash (Used in) Provided by Financing Activities	(530,290)	541,826	(223,159)
NET INCREASE (DECREASE) IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	149,872	110,047	(39,467)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT BEGINNING OF PERIOD	118,648	8,601	48,068
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AT END OF PERIOD	$ 268,520	$ 118,648	$ 8,601

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Sale of business [Member]	Common Stock [Member]	Capital in Excess of Par Value [Member]	Retained Earnings [Member]	Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Losses [Member]	Accumulated Other Comprehensive Losses [Member] Sale of business [Member]
Beginning balance at Mar. 31, 2018	$ 1,417,690			$ 483	$ 122,379	$ 1,298,840		$ (4,012)
Net Earnings	68,860					68,860
Stock Option Exercises and Restricted Share Vesting	2,104			1	2,103
Purchase and Retirement of Common Stock	(271,988)			(33)	(135,243)	(136,712)
Dividends to Stockholders	(18,636)					(18,636)
Stock Compensation Expense	15,108				15,108
Shares Redeemed to Settle Employee Taxes	(4,347)				(4,347)
Unfunded Pension Liability, net of tax	(696)							(696)
Ending Balance at Mar. 31, 2019	1,209,487			451		1,212,352		(3,316)
Net Earnings	70,894					70,894
Stock Option Exercises and Restricted Share Vesting	3,299			1	3,298
Purchase and Retirement of Common Stock	(313,887)			(36)	(8,114)	(305,737)
Dividends to Stockholders	(16,808)					(16,808)
Stock Compensation Expense	19,822				19,822
Shares Redeemed to Settle Employee Taxes	(4,063)				(4,063)
Unfunded Pension Liability, net of tax	265							265
Ending Balance at Mar. 31, 2020	967,843	$ (636)		416	10,943	960,065	$ (636)	(3,581)
Net Earnings	339,444					339,444
Stock Option Exercises and Restricted Share Vesting	40,457			8	40,449
Stock Compensation Expense	15,291				15,291
Shares Redeemed to Settle Employee Taxes	(4,186)				(4,186)
Unfunded Pension Liability, net of tax	113		$ 254					113	$ 254
Ending Balance at Mar. 31, 2021	$ 1,358,990			$ 424	$ 62,497	$ 1,299,509		$ (3,440)

- Definition

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

+ References

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

(A) Significant Accounting Policies

Basis of Presentation

The consolidated financial statements include the accounts of Eagle Materials Inc. and its majority-owned subsidiaries (the Company), which may be referred to as we, our, or us. All intercompany balances and transactions have been eliminated. The Company is a holding company whose assets consist of its investments in its subsidiaries, joint venture, intercompany balances, and holdings of cash and cash equivalents. The businesses of the consolidated group are conducted through the Company’s subsidiaries. The Company conducts one of its cement plant operations through a joint venture, Texas Lehigh Cement Company L.P., which is located in Buda, Texas (the Joint Venture). Our investment in the Joint Venture is accounted for using the equity method of accounting, and those results have been included for the same period as our March 31 fiscal year end.

On September 18, 2020, we sold our Oil and Gas Proppants business, which had been previously reported as a separate operating segment, for a purchase price of $2.0 million. The sale resulted in a gain of approximately $9.2 million. Because the sale of the Oil and Gas Proppants business was determined to meet the accounting criteria for discontinued operations, this segment is no longer separately reported in our reportable segment footnote for any of the periods presented. See Footnote (C) for more information about the sale of the Oil and Gas Proppants business.

The preparation of financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, 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.

Cash and Cash Equivalents

Cash Equivalents include short-term, highly liquid investments with original maturities of three months or less and are recorded at cost, which approximates market value.

Restricted Cash

Restricted Cash is comprised of cash reserved by contractual agreement for a specific use. Restricted Cash is generally held in an escrow account and distributed under the terms of the contract or agreement. Restricted Cash is included with Cash and Cash Equivalents on the Consolidated Statement of Cash Flows.

Accounts and Notes Receivable

Accounts and Notes Receivable have been shown net of the allowance for doubtful accounts of $8.1 million and $9.3 million (net of allowance for doubtful accounts related to discontinued operations) at March 31, 2021 and 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 on our assessment of the collectability of outstanding accounts receivable, and includes a provision for probable losses based on historical write-offs, adjusted for current economic

trends in the construction industry, and a specific reserve for accounts deemed at risk. We have no significant credit risk concentration among our diversified customer base. Bad debt expense was approximately $0.7 million, $3.4 million, and $1.2 million for the fiscal years ended March 31, 2021, 2020, and 2019, respectively. Write-offs of accounts receivable were approximately $1.2 million, $0.3 million, and $0.2 million for the fiscal years ended March 31, 2021, 2020 and 2019, respectively.

We had Notes Receivable totaling approximately $8.4 million at March 31, 2021, of which none was classified as current. We lend funds to certain companies in the ordinary course of business, and the notes bear interest, on average, at 3.1%. Remaining unpaid amounts, plus accrued interest, mature in fiscal 2025. The notes are collateralized by certain assets of the borrowers, namely property and equipment. We monitor the credit risk of each borrower by focusing on the timeliness of payments, review of credit history, credit metrics, and interaction with the borrowers.

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 then converted to tonnage using standard inventory density factors. Inventories consist of the following:

	March 31,
	2021		2020
	(dollars in thousands)
Raw Materials and Materials-in-Progress	$	92,696	$	110,558
Finished Cement		34,362		43,538
Aggregates		2,933		8,416
Gypsum Wallboard		4,177		4,211
Paperboard		5,031		5,715
Repair Parts and Supplies		86,750		88,094
Fuel and Coal		9,800		11,589
	$	235,749	$	272,121

Property, Plant, and Equipment

Property, Plant, and Equipment are stated at cost. Major renewals and improvements are capitalized and depreciated. Annual maintenance is expensed as incurred. Depreciation is provided on a straight-line basis over the estimated useful lives of depreciable assets and totaled $120.7 million, $109.5 million, and $118.2 million, for the fiscal years ended March 31, 2021, 2020, and 2019, respectively. Raw material deposits are depleted as such deposits are extracted for production utilizing the units-of-production method. Costs and accumulated depreciation applicable to assets retired or sold are eliminated from the accounts and any resulting gains or losses are recognized at such time. The estimated useful lives of the related assets are as follows:


Plants		20 to 30 years
Buildings		20 to 40 years
Machinery and Equipment		3 to 25 years

We periodically evaluate whether current events or circumstances indicate that the carrying value of our depreciable assets may not be recoverable. During fiscal years 2020 and 2019, we recorded impairments of approximately $11.2 million and $37.2 million, respectively, related to property and equipment that was part of our Oil and Gas Proppants segment, but was not included in the sale of this business. See Impairment or Disposal of Long-lived and Intangible Assets below for more information about the impairments.

Goodwill and Intangible Assets

Goodwill

We annually assess Goodwill in the fourth quarter of our fiscal year, or more frequently when indicators of impairment exist. Impairment testing for Goodwill is done at the reporting unit, which is consistent with the reportable segment.

Goodwill is considered impaired if the carrying value of the reporting unit exceeds its fair value. Prior to performing the Step 1 quantitative analysis, we may, at our discretion, perform an optional qualitative analysis, or we may choose to proceed directly to the Step 1 quantitative analysis. The qualitative analysis considers the impact of the following events and circumstances on the reporting unit being tested: macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, and other relevant entity-specific events. If, as a result of this qualitative analysis, we conclude that it is more likely than not (a likelihood of greater than 50%) that the fair value of the reporting unit exceeds its carrying value, then an impairment does not exist and the quantitative Step 1 analysis is not required. If we are unable to conclude that it is more likely than not that the fair value of the reporting unit exceeds its carrying value, then we proceed to the quantitative Step 1 analysis.

Step 1 of the quantitative test for impairment compares the fair value of the reporting unit to its carrying value. If the carrying value exceeds the fair value, then an impairment is indicated. If facts and circumstances related to our business change in subsequent years, we may choose to perform a quantitative analysis in those future years. If we perform a Step 1 analysis and the carrying value of the reporting unit exceeds its fair value, then an impairment charge equal to the difference, not to exceed the total amount of Goodwill, is recorded.

The fair values of the reporting units are estimated by using both the market and income approaches. The market approach considers market factors and certain multiples in comparison to similar companies, while the income approach uses discounted cash flows to determine the estimated fair values of the reporting units. We also perform an overall comparison of all reporting units to our market capitalization in order to test the reasonableness of our fair value calculations.

We performed a quantitative Step 1 impairment test on our all of our reporting units with Goodwill during the fourth quarter of fiscal 2021. We estimated the reporting unit’s fair value using a discounted cash flow model as well as a market analysis. Key assumptions in the model included estimated average net sales prices, sales volumes, and the estimated weighted average cost of capital specific to each industry. Based on the results of the Step 1 impairment analysis, we concluded that the fair values of the reporting units substantially exceeded their carrying values, and therefore no impairment was recognized.

Intangible Assets

Intangible Assets at March 31, 2021 and 2020, consist of the following:

	March 31, 2021
	Amortization Period	Cost		Purchase Price Adjustments			Accumulated Amortization			Net
	(dollars in thousands)
Goodwill and Intangible Assets:
Customer Contracts and Relationships	15 years	$	105,810	$	2,800		$	(66,445	)	$	42,165
Permits	25-40 years		30,410		—			(10,759	)		19,651
Trade Name	15 years		1,500		—			(138	)		1,362
Goodwill			331,592		(2,455	)		—			329,137
Total Goodwill and Intangible Assets		$	469,312	$	345		$	(77,342	)	$	392,315

	March 31, 2020
	Amortization Period	Cost		Additions		Accumulated Amortization			Net
	(dollars in thousands)
Goodwill and Intangible Assets:
Customer Contracts and Relationships	15 years	$	72,260	$	33,550	$	(62,950	)	$	42,860
Permits	25-40 years		28,640		1,770		(9,889	)		20,521
Trade Name	15 years		—		1,500		(10	)		1,490
Goodwill			198,371		133,221		—			331,592
Total Goodwill and Intangible Assets		$	299,271	$	170,041	$	(72,849	)	$	396,463

Amortization expense of intangibles was $4.5 million, $2.5 million, and $4.3 million for the fiscal years ended March 31, 2021, 2020, and 2019, respectively. Amortization expense is expected to be approximately $4.6 million for each of fiscal years 2022 through 2026.

The purchase price adjustment column included in the March 31, 2021 Intangible Assets table relates to the adjustment made to finalize the purchase price of Kosmos Cement Company. Please see Footnote (B) Acquisitions for more information.

Impairment or Disposal of Long-Lived and Intangible Assets

We assess our long-lived assets, including mining and related assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset, or group of assets, may not be recoverable. Long-lived assets, or groups of assets, are evaluated for impairment at the lowest level for which cash flows are largely independent of the cash flows of other assts. We assess recoverability of assets, or group of assets, by comparing the carrying amount of an asset, or group of assets, to the future undiscounted net cash flows that we expect the asset, or group of assets, to generate. These impairment evaluations are significantly affected by estimates of future revenue, costs and expenses, and other factors. If the carrying value of the assets, or group of assets, exceeds the undiscounted cash flows, then an impairment is indicated. If such assets, or group of assets, are considered to be impaired, the impairment is recognized as the amount by which the carrying amount of the asset, or group of assets, exceeds the fair value of the asset, or group of assets. Any assets held for sale are reflected at the lower of their carrying amount or fair value less cost to sell. There were no indicators of impairment related to our long-lived assets during fiscal 2021.

During fiscal 2020 and 2019, declining sales prices, sales volumes and operating losses led to the impairment of long-lived assets in our Oil and Gas Proppants business. During fiscal 2020 and 2019, we recorded impairment losses related to this business of $224.3 million and $220.3 million, respectively.

These losses were recorded primarily in property, plant, and equipment, but also included impairment of lease right-of-use assets in fiscal 2020. On September 18, 2020, we sold the Oil and Gas Proppants business, and determined that the sale of this business met the discontinued operations accounting criteria. See Footnote (C) for more information about the sale of the Oil and Gas Proppants business, and the discontinued operations accounting disclosures.

As part of the sale of the Oil and Gas Proppants business, there were certain assets that were included in this operating segment and not included in the sale. Because these assets were not included in the sale, any expenses related to these assets were not included in discontinued operations. Impairment charges related to these assets in fiscal 2020 and 2019 are included in continuing operations on the Consolidated Statement of Earnings and are summarized below:

	For the Years Ended March 31,
	2020		2019
	(dollars in thousands)
Property, Equipment, and Real Estate	$	11,213	$	37,179
Lease Right-of-Use Assets		13,918		—
	$	25,131	$	37,179

Other Assets

Other Assets are primarily composed of financing costs related to our revolving credit facility, deferred expenses, and deposits.

Income Taxes

We account for Income Taxes using the asset and liability method. The effect on deferred taxes of a change in tax rates is recognized in earnings in the period that includes the enactment date. We recognize deferred taxes for the differences between financial statement carrying amounts and the tax bases of existing assets and liabilities by applying enacted statutory tax rates for future years. In addition, we recognize future tax benefits to the extent that such benefits are more likely than not to be realized.

Stock Repurchases

On April 18, 2019, the Board of Directors authorized the Company to repurchase an additional 10,000,000 shares. During fiscal years 2020 and 2019, we repurchased 3,574,109 and 3,309,670 shares, respectively, at average prices of $87.82 and $82.18, respectively. We did not repurchase any shares during the fiscal year ended March 31, 2021. At March 31, 2021, we have authorization to repurchase an additional 7,305,649 shares.

Revenue Recognition

We earn Revenue primarily from the sale of products, which include cement, concrete, aggregates, gypsum wallboard, and recycled paperboard. The majority of Revenue from the sale of cement, concrete, aggregates, and gypsum wallboard is originated by purchase orders from our customers, who are primarily third-party contractors and suppliers. Revenue from our Recycled Paperboard segment is generated primarily through long-term supply agreements that mature between calendar years 2023 and 2025. We invoice customers upon shipment, and our collection terms range from 30 to 75 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. 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. Shortfall amounts, if applicable under these arrangements, are constrained and not recognized as Revenue until agreement is reached with the customer and there is no 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.

Approximately $177.5 million, $168.1 million, and $169.6 million of freight for the fiscal years ended March 31, 2021, 2020 and 2019, respectively, were included in both Revenue and Cost of Goods Sold in our Consolidated Statement of Earnings.

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

See Footnote (I) for disaggregation of Revenue by segment.

Comprehensive Income/Losses

As of March 31, 2021, we have an Accumulated Other Comprehensive Loss of $3.4 million, which is net of income taxes of $1.1 million, in connection with recognizing the difference between the fair value of the pension assets and the projected benefit obligation.

Consolidated Cash Flows – Supplemental Disclosures

Supplemental cash flow information is as follows:

	For the Years Ended March 31,
	2021		2020		2019
	(dollars in thousands)
Cash Payments:
Interest	$	42,343	$	37,610	$	28,191
Income Taxes		32,870		20,046		39,974
Operating Cash Flows Used for Operating Leases		10,741		14,926		—

Non-Cash Financing Activities:
Right-of-use Assets Obtained for Capitalized Operating Lease Liabilities	$	272	$	621	$	—

Statements of Consolidated Earnings – Supplemental Disclosures

Maintenance and repair expenses are included in each segment’s costs and expenses. We incurred $137.2 million, $127.0 million, and $116.3 million of maintenance and repairs expense in the fiscal years ended March 31, 2021, 2020, and 2019, respectively, which is included in Cost of Goods Sold on the Consolidated Statement of Earnings.

Selling, General, and Administrative Expenses

Selling, General, and Administrative Expenses of the operating units are included in Cost of Goods Sold on the Consolidated Statements of Earnings. Corporate General and Administrative (Corporate G&A) Expenses include administration, financial, legal, employee benefits, and other corporate activities, and are shown separately in the Consolidated Statements of Earnings. Corporate G&A also includes stock compensation expense. See Footnote (L) for more information.

Total Selling, General, and Administrative Expenses for each of the periods are summarized as follows:

	For the Years Ended March 31,
	2021		2020		2019
	(dollars in thousands)
Operating Units Selling, G&A	$	56,309	$	57,077	$	53,787
Corporate G&A		49,511		65,410		37,371
	$	105,820	$	122,487	$	91,158

The increase in Corporate General and Administrative Expenses during fiscal 2020 is primarily due to business development costs related to our pending separation, acquisitions, and the acceleration of stock compensation costs upon the retirement of our Chief Executive Officer during the year.

Earnings Per Share

	For the Years Ended March 31,
	2021			2020			2019
Weighted-Average Shares of Common Stock Outstanding		41,543,067			42,021,892			46,620,894
Effect of Dilutive Shares:
Assumed Exercise of Outstanding Dilutive Options		570,325			623,779			539,135
Less Shares Repurchased from Proceeds of Assumed Exercised Options		(429,815	)		(481,853	)		(374,380	)
Restricted Stock Units		143,132			121,525			146,731
Weighted-Average Common Stock and Dilutive Securities Outstanding		41,826,709			42,285,343			46,932,380

The line Less Shares Repurchased from Proceeds of Assumed Exercised Options includes unearned compensation related to outstanding stock options.

There were 569,431; 475,082; and 461,575 stock options at an average exercise price of $89.11 per share, $95.46 per share, and $90.32 per share, respectively, that were excluded from the computation of diluted earnings per share for the fiscal years ended March 31, 2021, 2020, and 2019, because such inclusion would have been anti-dilutive.

Share-Based Compensation

All share-based compensation is valued at the grant date and expensed over the requisite service period, which is generally identical to the vesting period of the award. Forfeitures of share-based awards are recognized in the period in which they occur.

Fair Value Measures

Certain assets and liabilities are required to be recorded or disclosed at fair value. The estimated fair values of those assets and liabilities have been determined using market information and valuation methodologies. Changes in assumptions or estimation methods could affect the fair value estimates; however, we do not believe any such changes would have a material impact on our financial condition, results of operations, or cash flows. There are three levels of inputs that may be used to measure fair value:

Level 1 – Quoted prices for identical assets and liabilities in active markets;

Level 2 – Quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data; and

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies, and similar techniques that use significant unobservable inputs.

Recent Accounting Pronouncements

RECENTLY ADOPTED

In June 2016, the FASB issued an update on the measurement of credit losses on financial instruments, which requires entities to use a forward-looking approach based on expected losses rather than the current model of incurred losses to estimate credit losses on certain types of financial instruments, including Accounts and Notes Receivable. The application of the forward-looking model may result in earlier recognition of allowances for losses than the current method. The adoption of this standard on April 1, 2020 did not have a material effect on our consolidated financial statements.

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 to have a material impact on our consolidated financial statements.

ACQUISITION

12 Months Ended

Mar. 31, 2021

Business Combinations [Abstract]

ACQUISITION

(B) ACQUISITIONS

Kosmos Acquisition

On March 6, 2020, we completed the previously announced acquisition (the Kosmos Acquisition) of 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 assets acquired in the Kosmos Acquisition were (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).

Purchase Price: The purchase price of the Kosmos Acquisition was approximately $668.9 million. We funded the payment of the Kosmos Acquisition primarily through a Term Loan with the remainder paid using cash on hand. See Footnote (G) 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 following table summarizes the allocation of the purchase price to assets acquired and liabilities assumed as of December 31, 2020, when the allocation was determined to be final:

	(dollars in thousands)
Inventories	$	28,568
Property, Plant, and Equipment		476,698
Intangible Assets		38,300
Lease Right-of-Use Assets		4,478
Lease Obligations		(4,478	)
Long-term Liabilities		(3,756	)
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, and during the quarter ended December 31, 2020, we finalized the valuation of our asset retirement obligation. These final values, which are disclosed in the above table, resulted in minor changes from the amounts disclosed in our fiscal 2020 Form 10-K.

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 loss related to the Kosmos Acquisition that has been included in our Consolidated Statement of Earnings from March 6, 2020 through March 31, 2020 and for the fiscal year ended March 31, 2021:

	For the Years Ended March 31,
	2020			2021
	(dollars in thousands)
Revenue	$	7,880		$	175,511
Operating Earnings (Loss)	$	(6,756	)	$	34,084

Operating Loss shown above for fiscal 2020 was affected by approximately $1.8 million related to depreciation and amortization and $1.7 million related to the recording of acquired inventory at fair value. Operating Earnings for fiscal 2021 was affected by approximately $21.7 million related to depreciation and amortization, and $3.7 million related to the recording of the 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, 2018. 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, material nonrecurring charges directly related to the Kosmos Acquisition of approximately $5.6 million have been excluded from pro forma net income. Additionally, we excluded a tax benefit of approximately $31.7 million that would not have been available to us had the acquisition occurred on April 1, 2018. See Footnote (J) for more information on the tax benefit.

	For the Year Ended March 31,
	2020		2019
	Unaudited
	(dollars in thousands)
Revenue	$	1,558,342	$	1,471,350
Net Earnings	$	50,189	$	66,377
Earnings Per Share – basic	$	1.19	$	1.42
Earnings Per Share - diluted	$	1.19	$	1.41

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, 2018.

ConAgg Acquisition

On August 2, 2019, we acquired the assets of a readymix concrete and aggregates business (the ConAgg Acquisition). The purchase price of the ConAgg Acquisition was approximately $30.4 million. The purchase price and expenses incurred in connection with the ConAgg Acquisition were funded through operating cash flows and borrowings under our Revolving Credit Facility. Operations related to the ConAgg Acquisition are included in our segment reporting for the Concrete and Aggregates business from August 2, 2019 through March 31, 2020, and for fiscal 2021.

The purchase price for the ConAgg Acquisition was allocated as follows:

	As of August 2, 2019
	(dollars in thousands)
Accounts Receivable	$	6,302
Inventories		1,921
Property, Plant, and Equipment		22,620
Intangible Assets		1,320
Lease Right-of-Use Assets		3,263
Other Assets		10
Lease Obligations		(3,263	)
Accounts Payable and Accrued Expenses		(3,388	)
Total Net Assets		28,785
Goodwill		1,639
Total Estimated Purchase Price	$	30,424

DISCONTINUED OPERATIONS AND OTHER DISPOSITIONS

12 Months Ended

Mar. 31, 2021

Discontinued Operations And Disposal Groups [Abstract]

DISCONTINUED OPERATIONS AND OTHER DISPOSITIONS

Discontinued Operations

On May 30, 2019, the Company announced it was actively pursuing alternatives for its Oil and Gas Proppants business. On September 18, 2020, we sold our Oil and Gas Proppants business (the Proppants Business) to Smart Sand, Inc., a Delaware corporation (the Purchaser), pursuant to an Equity Purchase and Sale Agreement (the Purchase Agreement) between the Company and the Purchaser. The sale of this business excluded certain assets, namely real property and equipment in south Texas, real property in Illinois and certain other assets. The purchase price (the Purchase Price) paid by the Purchaser for the acquisition of the Proppants Business was $2.0 million paid in shares of common stock of the Purchaser. The shares were valued at March 31, 2021 using Level 1 inputs at the quoted market price of the shares, and the shares are classified as Other Assets in our Consolidated Balance Sheet at March 31, 2021. Shares representing $0.3 million of the Purchase Price are being held in escrow as a source of recovery for any indemnification claims by the Purchaser.

In connection with the execution of the Purchase Agreement, we also entered into a Loan and Security Agreement, dated September 18, 2020 (the Loan and Security Agreement), by and among the Company, as lender; the Purchaser, as borrower; and other parties thereto. Pursuant to the Loan and Security Agreement, the Company will loan the Purchaser up to $5.0 million for working capital and operating, maintenance, and administrative expenses of the Proppants Business during the one-year period following the closing. The Company has deposited the $5.0 million into an escrow account. Up to 50% of the amounts outstanding under the Loan and Security Agreement may be repaid by the Purchaser in shares of the Purchaser’s common stock. Borrowings under the Loan and Security Agreement will bear interest at a fixed rate of 6.00% per annum during the one-year period following the closing. Any amounts after the one-year period will bear interest at a fixed rate of 8.00% per annum and will mature on September 18, 2024. There were no outstanding borrowings at March 31, 2021. The $5.0 million in the escrow account at March 31, 2021 is classified as Restricted Cash on the Consolidated Balance Sheet.

The sale of the Oil and Gas Proppants business, which was previously disclosed as a reportable segment, was determined to meet the discontinued operations accounting criteria. The sale resulted in a gain of approximately $9.2 million, which is included in Earnings (Loss) from Discontinued Operations on the Consolidated Statement of Earnings. Certain expenses, which were previously included in the Oil and Gas Proppants operating segment, do not qualify for classification within discontinued operations and have been reclassified from the operating segment to continuing operations. These expenses primarily relate to lease agreements not included in the sale of the Proppants Business.

The following is a summary of operating results included in Earnings (Loss) from Discontinued Operations for the fiscal years ended March 31, 2021, 2020, and 2019.

	For the Years Ended March 31,
	2021			2020			2019
	(dollars in thousands, except share and per share data)
Revenue	$	1,045		$	46,781		$	82,987
Cost of Goods Sold		3,415			58,185			104,521
Gross Profit		(2,370	)		(11,404	)		(21,534	)
Other Non-Operating Income		226			569			577
Gain on Sale of Discontinued Operations		9,230			—			—
Impairment Losses		—			(199,136	)		(183,086	)
Earnings (Loss) from Discontinued Operations		7,086			(209,971	)		(204,043	)
Income Tax (Expense) Benefit		(1,808	)		49,674			49,397
Net Earnings (Loss) from Discontinued Operations	$	5,278		$	(160,297	)	$	(154,646	)

The significant components of our Consolidated Statements of Cash Flows for discontinued operations for the fiscal years ended March 31, 2021, 2020, and 2019 are as follows:

	For the Years Ended December 31,
	2021			2020		2019
	(dollars in thousands)
Depreciation and Amortization	$	221		$	11,310	$	31,328
Impairment Losses	$	—		$	199,136	$	183,086
Gain on Sale of Business	$	(9,230	)	$	—	$	—
Net Change in Inventory	$	—		$	3,200	$	1,506
Capital Expenditures	$	—		$	146	$	52,286

The following is a summary of assets and liabilities attributable to discontinued operations, which were included on our balance sheet at March 31, 2020:

	March 31,
	2020
	(dollars in thousands)
ASSETS
Accounts and Notes Receivable	$	9,019
Allowance for Doubtful Accounts		(3,041	)
Inventories		387
Prepaid and Other Assets		727
Total Current Assets		7,092
Property, Plant, and Equipment, net		5,692
Operating Lease Right-of-Use Assets		1,047
Total Noncurrent Assets		6,739
	$	13,831

LIABILITIES
Accounts Payable	$	2,014
Accrued Liabilities		2,851
Operating Lease Liabilities		3,622
Total Current Liabilities		8,487
Noncurrent Operating Lease Liabilities		9,570
Other Long-term Liabilities		5,857
Total Noncurrent Liabilities		15,427
	$	23,914

Other Dispositions

On April 17, 2020, we sold our Western Aggregates LLC (Western) and Mathews Readymix LLC (Mathews) operations to Teichert Inc., a California-based construction company for an aggregate purchase price of $93.5 million, subject to certain post-closing adjustments. Western and Mathews were part of our Concrete and Aggregates operating segment.

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, for fiscal years 2021, 2020 and 2019 are as follows:

	For the Years Ended March 31,
	2021		2020		2019
	(dollars in thousands)
Revenue	$	1,692	$	32,255	$	27,790
Operating Earnings	$	142	$	4,837	$	2,481

PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Mar. 31, 2021

Property Plant And Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

(D) Property, Plant, and Equipment

Cost by major category and Accumulated Depreciation are summarized as follows:

	March 31,
	2021			2020
	(dollars in thousands)
Land and Quarries	$	217,439		$	231,163
Plants		2,363,937			2,353,526
Buildings, Machinery, and Equipment		180,340			196,285
Construction in Progress		23,097			30,406
		2,784,813			2,811,380
Accumulated Depreciation		(1,125,713	)		(1,054,963	)
	$	1,659,100		$	1,756,417

ACCRUED EXPENSES

12 Months Ended

Mar. 31, 2021

Payables And Accruals [Abstract]

ACCRUED EXPENSES

(E) Accrued Expenses

Accrued expenses consist of the following:

	As of March 31,
	2021		2020
	(dollars in thousands)
Payroll and Incentive Compensation	$	32,336	$	24,904
Benefits		14,979		12,447
Interest		3,089		4,080
Property Taxes		6,683		5,110
Power and Fuel		2,350		1,353
Freight		1,575		529
Legal and Professional		9,511		16,096
Sales and Use Tax		1,265		1,085
Other		7,052		4,838
	$	78,840	$	70,442

LEASES

12 Months Ended

Mar. 31, 2021

Leases [Abstract]

LEASES

(F) Leases

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

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

	For the Years Ended March 31,
	2021		2020
	(dollars in thousands)
Operating Lease Cost	$	6,757	$	7,966
Short-term Lease Cost		2,562		1,279
Total Lease Cost	$	9,319	$	9,245

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

	As of March 31,
	2021		2020
	(dollars in thousands)
Operating Leases:
Operating Lease Right-of-Use Assets	$	25,811	$	29,483

Current Operating Lease Liabilities	$	6,343	$	6,585
Noncurrent Operating Lease Liabilities		34,444		40,239
Total Operating Lease Liabilities	$	40,787	$	46,824

Future payments for operating leases are as follows:

	Amount
Fiscal Year	(dollars in thousands)
2022	$	7,556
2023		6,969
2024		6,007
2025		5,651
2026		4,170
Thereafter		20,416
Total Lease Payments	$	50,769
Less: Imputed Interest		(9,982	)
Present Value of Lease Liabilities	$	40,787

Weighted Average Remaining Lease Term (in years)		10.5
Weighted Average Discount Rate		3.79	%

INDEBTEDNESS

12 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

INDEBTEDNESS

(G) Indebtedness

Long-term debt consists of the following:

	As of March 31,
	2021			2020
	(dollars in thousands)
Bank Credit Facility	$	—		$	560,000
4.500% Senior Unsecured Notes Due 2026		350,000			350,000
Term Loan		665,000			665,000
Total Debt		1,015,000			1,575,000
Less: Debt Origination Costs		(6,384	)		(7,685	)
Long-term Debt	$	1,008,616		$	1,567,315

The weighted-average interest rate of borrowings under our Revolving Credit Facility during fiscal years 2021, 2020, and 2019 was 2.8%, 3.6%, and 3.4%, respectively. The interest rate on the Revolving Credit Facility was 2.8% at March 31, 2020. There was no balance outstanding at March 31, 2021.

The weighted-average interest rate of borrowings under our Term Loan during fiscal 2021 and 2020 was 2.5% and 2.8%, respectively. The interest rate on the Term Loan was 1.4% and 2.8% at March 31, 2021 and 2020, respectively.

Our maturities of long-term debt during the next five fiscal years and thereafter are as follows:

Fiscal Year	Amount
2022	$	—
2023		—
2024		665,000
2025		—
2026		—
Thereafter		350,000
Total	$	1,015,000

Credit Facility

REVOLVING Credit Facility

We have a $750.0 million revolving credit facility (the Revolving Credit Facility), that was amended on March 3, 2021 to extend the termination date to August 2, 2023. 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), which is established quarterly based on the Company's then Leverage Ratio; 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 New York Federal Reserve Bank (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), 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), 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 3.50:1.00 or less and an Interest Coverage Ratio (as defined in the Revolving Credit Facility) equal to or greater than 2.50:1.00. We were in compliance with all financial ratios and tests at March 31, 2021. We had no outstanding borrowings under the Revolving Credit Facility at March 31, 2021. We had $745.7 million of available borrowings under the Revolving Credit Facility, net of the outstanding letters of credit, at March 31, 2021, 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 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 March 31, 2021, we had $4.3 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. On March 3, 2021, we amended the Term Loan Agreement and extended the maturity date thereof to August 2, 2023, and modified certain other provisions, as noted below, that are similar to those provisions in the Revolving Credit Agreement as set forth above.

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 25 to 100 basis points), or (ii) the Adjusted LIBO Rate (as defined in the Term Loan Agreement), plus an agreed spread (ranging from 125 to 200 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 semi-annually on February 1 and August 1 of each year until all outstanding notes are paid. The Senior Unsecured Notes rank equal to existing and future senior indebtedness, including the Revolving Credit Facility and Term Loan. 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 existence of 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 guaranteed by all of the Company’s wholly-owned subsidiaries, and all guarantees are full and unconditional, and are joint and several. The same subsidiaries are also guarantors under the Revolving Credit Facility and Term Loan.

Other Information

We previously leased 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, were 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 held all outstanding industrial revenue bonds, no debt was reflected on our financial statements in connection with our lease of the cement plant. Upon expiration of the lease in December 2020, we exercised our option and purchased the cement plant for a nominal amount.

FAIR VALUE OF FINANCIAL INSTRUMENTS

12 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

(H) Fair Value of Financial Instruments

The fair value of our senior notes 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 March 31, 2021 are as follows:

	Fair Value
	(dollars in thousands)
4.500% Senior Unsecured Notes Due 2026	$	361,675

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, restricted cash, accounts and notes receivable, accounts payable, and accrued liabilities approximate their fair values at March 31, 2021, 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 March 31, 2021.

- 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

BUSINESS SEGMENTS

12 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

BUSINESS SEGMENTS

(I) Business Segments

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. On September 18, 2020, we sold our Oil and Gas Proppants business, which had been reported as an operating segment. The Oil and Gas Proppants business was determined to meet the discontinued operations accounting criteria; therefore, this segment is no longer separately reported in our reportable segment footnote for any of the periods presented. Certain expenses of the Oil and Gas Proppants business that related to assets not included in the sale, namely real property and equipment in south Texas, real property in Illinois, and certain other assets, are included in Other when reconciling segment operating earnings to consolidated operating earnings. See Footnote (C) for more information about the sale of the Oil and Gas Proppants business.

Our business is organized into two sectors within which there are four 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.

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

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 26 readymix concrete batch plants and three 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 (C) 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.

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 tables below set forth certain financial information relating to our operations by segment. We do not allocate interest or taxes at the segment level, only at the consolidated company level.

	For the Years Ended March 31,
	2021			2020			2019
	(dollars in thousands)
Revenue -
Cement	$	944,556		$	752,002		$	656,759
Concrete and Aggregates		168,829			182,775			140,173
Gypsum Wallboard		539,009			508,145			532,712
Paperboard		163,507			159,963			167,656
		1,815,901			1,602,885			1,497,300
Less: Intersegment Revenue		(88,068	)		(85,316	)		(82,553	)
Less: Joint Venture Revenue		(105,191	)		(113,536	)		(104,493	)
	$	1,622,642		$	1,404,033		$	1,310,254

	For the Years Ended March 31,
	2021		2020		2019
	(dollars in thousands)
Intersegment Revenue -
Cement	$	20,862	$	21,499	$	14,408
Concrete and Aggregates		106		1,502		1,422
Paperboard		67,100		62,315		66,723
	$	88,068	$	85,316	$	82,553
Cement Sales Volume (M tons) -
Wholly Owned		6,576		4,975		4,441
Joint Venture		890		956		899
		7,466		5,931		5,340

	For the Years Ended March 31,
	2021				2020			2019
				(dollars in thousands)
Operating Earnings -
Cement	$	233,957			$	181,330		$	164,782
Concrete and Aggregates		19,054				17,558			12,866
Gypsum Wallboard		167,336				154,614			180,831
Paperboard		25,449				34,979			35,349
Other		—				(3,230	)		(7,161	)
Sub-Total		445,796				385,251			386,667
Corporate General and Administrative Expense		(49,511	)			(65,410	)		(37,371	)
Gain on Sale of Businesses		51,973				—			—
Impairment Losses		—				(25,131	)		(37,179	)
Litigation Settlements and Losses		—				—			(1,800	)
Other Non-Operating Income (Loss)		20,274				(594	)		1,835
Earnings Before Interest and Income Taxes		468,532				294,116			312,152
Interest Expense, net		(44,420	)			(38,421	)		(28,374	)
Earnings Before Income Taxes	$	424,112			$	255,695		$	283,778
Cement Operating Earnings -
Wholly Owned	$	196,516			$	138,745		$	126,217
Joint Venture		37,441				42,585			38,565
	$	233,957			$	181,330		$	164,782
Capital Expenditures -
Cement	$	26,708			$	44,776		$	76,504
Concrete and Aggregates		3,114				11,898			6,649
Gypsum Wallboard		12,889				12,771			10,724
Paperboard		11,222				62,528			16,603
Corporate and Other		—				—			6,107
	$	53,933			$	131,973		$	116,587
Depreciation, Depletion, and Amortization -
Cement	$	77,524			$	59,081		$	52,802
Concrete and Aggregates		10,807				11,142			8,176
Gypsum Wallboard		21,646				20,320			20,020
Paperboard		13,913				8,945			8,541
Corporate and Other		4,976				2,720			1,668
	$	128,866			$	102,208		$	91,207

Discontinued Operations
Capital Expenditures	$	—			$	146		$	52,286
Depreciation, Depletion, and Amortization	$	221			$	11,310		$	31,328

	As of March 31,
	2021		2020		2019
	(dollars in thousands)
Identifiable Assets
Cement	$	1,898,930	$	1,980,306	$	1,289,468
Concrete and Aggregates		88,410		136,041		95,084
Gypsum Wallboard		366,352		375,946		372,206
Paperboard		186,156		183,288		138,614
Assets of Discontinued Operations		—		13,831		222,890
Corporate and Other, net		298,833		271,608		50,901
	$	2,838,681	$	2,961,020	$	2,169,163

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. Segment Operating Earnings don’t include certain non-recurring losses, such as impairment and legal settlements. 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 Consolidated Balance Sheets and Consolidated Statements of Earnings.

The segment breakdown of Goodwill at March 31, 2021 and 2020 is as follows:

	For the Years Ended March 31,
	2021		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

The reduction in Goodwill in our Cement segment during fiscal 2021 was due to our finalizing the purchase price allocation related to the Kosmos Acquisition during fiscal 2021, which resulted in a lower amount of Goodwill. See Footnote (B) for more information.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

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-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

INCOME TAXES

12 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

INCOME TAXES

(J) Income Taxes

The provision for income taxes from continuing operations includes the following components:

	For the Years Ended March 31,
	2021		2020			2019
	(dollars in thousands)
Current Provision (Benefit) -
Federal	$	67,913	$	(91,304	)	$	53,570
State		9,587		3,004			9,414
		77,500		(88,300	)		62,984
Deferred Provision (Benefit) -
Federal		7,207		108,467			(726	)
State		5,239		4,337			(1,986	)
		12,446		112,804			(2,712	)
Provision for Income Taxes	$	89,946	$	24,504		$	60,272

The effective tax rates vary from the federal statutory rates due to the following items:

	For the Years Ended March 31,
	2021			2020			2019
	(dollars in thousands)
Earnings Before Income Taxes	$	424,112		$	255,695		$	283,778
Income Taxes at Statutory Rate	$	89,063		$	53,998		$	59,690
Increases (Decreases) in Tax Resulting from -
State Income Taxes, net		11,713			3,579			5,868
Statutory Depletion in Excess of Cost		(5,263	)		(3,078	)		(3,834	)
Excess Tax Benefit from Stock Compensation		(3,229	)		307			(651	)
Meals and Entertainment Disallowance		220			537			610
Limitation on Officers’ Compensation		1,503			1,018			1,434
Impact of CARES Act of 2020		—			(35,936	)		—
Credits		(400	)		(2,150	)		(940	)
Valuation Allowance		300			2,212			(2,100	)
Change in Reserves		(2,916	)		4,200			—
Other		(1,045	)		(183	)		195
Provision for Income Taxes	$	89,946		$	24,504		$	60,272
Effective Tax Rate		21	%		10	%		21	%

Components of deferred income taxes are as follows:

	March 31,
	2021			2020
	(dollars in thousands)
Items Giving Rise to Deferred Tax Liabilities -
Excess Tax Depreciation and Amortization	$	(220,269	)	$	(199,096	)
State Income Taxes, net		(21,923	)		(12,225	)
Depletable Assets		(3,540	)		—
Right-of-Use Assets		(6,271	)		(5,441	)
Other		(6,332	)		(5,764	)
Total Deferred Tax Liabilities	$	(258,335	)	$	(222,526	)
Items Giving Rise to Deferred Tax Assets -
Change in Accruals	$	12,046		$	9,373
Depletable Assets		—			12,632
Inventory		1,243			7,217
Bad Debts		1,812			2,642
Long-term Incentive Compensation Plan		3,396			5,590
Credits and Other Carryforwards		17,338			19,861
Lease Liability		9,369			11,384
Pension		906			937
Subtotal		46,110			69,636
Valuation Allowance		(13,761	)		(13,777	)
Total Deferred Tax Assets	$	32,349		$	55,859

We record Deferred Tax Assets and Liabilities based upon estimates of their realizable value with such estimates based upon likely future tax consequences. In assessing the need for a valuation allowance, we consider both positive and negative evidence related to the likelihood of realization of the Deferred Tax Assets. If, based on the weight of available evidence, it is more likely than not that a Deferred Tax Asset will not be realized, we record a Valuation Allowance.

We have state net operating loss carryforwards of $3.7 million at March 31, 2021, and approximately $5.4 million at March 31, 2020. We have federal Research and Development (R&D) and state income tax credits of $1.1 million at March 31, 2021, and $2.2 million at March 31, 2020, net of Valuation Allowances.

The federal R&D credits can be carried forward 20 years and the state income tax credits may be carried forward indefinitely.

We file income tax returns in U.S. federal and various state jurisdictions. The Company is currently subject to U.S. federal income tax examinations for the year ended March 31, 2018 and forward.

Uncertain tax positions

We are subject to audit examinations at federal, state, and local levels by tax authorities in those jurisdictions who may challenge the treatment or reporting of any return item. The tax matters challenged by the tax authorities are typically complex; therefore, the ultimate outcome of these challenges is subject to uncertainty.

We review and assess all tax positions subject to uncertainty on a more-likely-than-not standard with respect to ultimate outcome if challenged. We measure and record tax benefit or expense only when the more-likely-than-not threshold is met. The change in unrecognized tax benefits for the years ended March 31, 2021, 2020, and 2019 was as follows:

	For the Years Ended March 31,
	2021			2020		2019
	(dollars in thousands)
Balance at Beginning of Year	$	4,200		$	—	$	—
Increase Related to Current Tax Positions		1,284			4,200		—
Decrease Related to Current Tax Positions		(4,200	)		—		—
Payments		—			—		—
	$	1,284		$	4,200	$	—

We recorded a $4.2 million reserve as a result of a position we took on our fiscal 2020 federal tax return, which is related to the interest limitation under IRC Section 163(j) and the resulting carryback allowed under the CARES Act. This tax return position reflected an expected update to U.S. Department of the Treasury regulations. During fiscal 2021, the U.S. Department of Treasury issued updated regulations under IRC Section 163(j). As a result, in fiscal 2021 we reversed the reserve recorded in fiscal 2020.

We classify interest and penalties related to uncertain tax positions as current income tax expense. We recorded no interest and penalties for each of the fiscal years ended March 31, 2021, 2020, and 2019.

Tax Cuts and Jobs Act

CARES Act

The CARES Act was enacted on March 27, 2020. The CARES Act, among other changes, allows for a five-year carryback of net operating losses (NOL) generated beginning in 2018 and ending before 2021. In March 2020, we recorded a tax benefit of $35.9 million related to the carryback and utilization of NOLs in prior-year tax periods at higher rates than the current statutory rate.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Mar. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

COMMITMENTS AND CONTINGENCIES

(K) Commitments and Contingencies

Our operations and properties are subject to extensive and changing federal, state, and local laws; regulations and ordinances governing the protection of the environment; as well as laws relating to worker health and workplace safety. We carefully consider the requirements mandated by such laws and regulations and have procedures in place at all of our operating units to monitor compliance. Any matters which are identified as potential exposures under these laws and regulations are carefully reviewed by management to determine our potential liability. Although management is not aware of any material exposures which require an accrual under generally accepted accounting principles, there can be no assurance that prior or future operations will not ultimately result in violations, claims, or other liabilities associated with these regulations.

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, auto, and general liability self-insurance. At March 31, 2021, we had contingent liabilities under these outstanding letters of credit of approximately $4.3 million. 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.

We are currently contingently liable for performance under $24.3 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.

Other

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 might include claims relating to any of the following: environmental and tax matters; intellectual property rights; governmental regulations and employment-related matters; customer, supplier, construction contractor, and other commercial contractual relationships; and financial matters. While the maximum amount to which we may be exposed under such agreements cannot be estimated, it is the opinion of management that these indemnifications are not expected to have a material adverse effect on the Company’s consolidated financial position, results of operations, or cash flows. We currently have no outstanding guarantees of third-party debt.

We have certain forward purchase contracts, primarily for natural gas, that expire during calendar 2021 and 2022. The contracts are for approximately 30% of our anticipated natural gas usage.

STOCK OPTION PLANS

12 Months Ended

Mar. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

STOCK OPTION PLANS

(L) Stock Option Plans

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 may 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 remained 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 would be earned only if certain performance conditions were satisfied (the Fiscal 2021 Employee Performance Stock Option Grant). The performance criterion for the Fiscal 2021 Employee Performance Stock Option Grant was 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 would be earned if the return on equity was 20.0% or greater, and the percentage of shares earned are reduced proportionately to approximately 66.7% if the return on equity was 10.0%. If the Company does not achieve a return on equity of at least 10.0%, all stock options granted would have been forfeited. During fiscal 2021, our adjusted return on equity was approximately 20.0%; therefore, all 96,476 options were earned. The earned stock options will vest ratably over four years, with the first fourth vesting promptly following the determination date, and the remaining options vesting on March 31, 2022 through 2024. 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 a four-year period (the Fiscal 2021 Employee Time-Vesting Stock Option Grant). All of our stock options have a term of 10 years from the date of grant.

All stock options issued during fiscal 2021 and 2020 were valued at the grant date using the Black-Scholes option pricing model. The weighted-average assumptions used in the Black-Scholes model to value the option awards in fiscal 2021 and 2020 are as follows:

	2021			2020
Dividend Yield		0.0	%		1.3	%
Expected Volatility		37.9	%		31.4	%
Risk-Free Interest Rate		0.44	%		2.31	%
Expected Life	6.0 years			6.0 years

Stock option expense for all outstanding stock option awards was approximately $4.9 million, $4.5 million, and $3.8 million for the years ended March 31, 2021, 2020, and 2019, respectively. At March 31, 2021, there was approximately $7.0 million of unrecognized compensation cost related to outstanding stock options, which is expected to be recognized over a weighted-average period of 2.4 years.

The following table shows stock option activity for the years presented:

	For the Years Ended March 31,
	2021					2020					2019
	Number of Shares			Weighted- Average Exercise Price		Number of Shares			Weighted- Average Exercise Price		Number of Shares			Weighted- Average Exercise Price
Outstanding Options at Beginning of Year		1,160,091		$	80.36		1,042,925		$	76.88		958,136		$	72.52
Granted		187,121		$	61.92		187,375		$	91.58		125,734		$	103.53
Exercised		(623,617	)	$	70.57		(62,326	)	$	88.28		(38,748	)	$	54.27
Cancelled		(15,094	)	$	92.51		(7,883	)	$	102.69		(2,197	)	$	100.88
Outstanding Options at End of Year		708,501		$	83.85		1,160,091		$	80.36		1,042,925		$	76.88
Options Exercisable at End of Year		416,817					868,081					761,564
Weighted-Average Fair Value of Options Granted during the Year				$	22.68				$	27.35				$	33.11

The following table summarizes information about stock options outstanding at March 31, 2021:

	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number of Shares Outstanding		Weighted- Average Remaining Contractual Life		Weighted- Average Exercise Price		Number of Shares Outstanding		Weighted- Average Exercise Price
$33.43 - $37.34		14,373		1.20	$	34.37		14,373	$	34.37
$59.32 - $81.56		260,670		7.72	$	65.46		96,420	$	73.32
$87.34 - $106.24		433,458		6.74	$	96.55		306,024	$	96.93
		708,501		6.99	$	83.85		416,817	$	89.31

At March 31, 2021, the aggregate intrinsic value for outstanding and exercisable options was approximately $35.8 million and $18.8 million, respectively. The total intrinsic value of options exercised during the fiscal years ended March 31, 2021, 2020, and 2019 was approximately $26.4 million, $2.2 million and $2.1 million, respectively.

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 would be earned only if certain performance conditions were satisfied (the Fiscal 2021 Employee Restricted Stock Performance Award). The performance criterion for the Fiscal 2020 Employee Restricted Stock Performance Award is based upon the achievement of certain levels of return on equity (as defined in the agreement), ranging from 10.0% to 20.0%, for the fiscal year ended March 31, 2021. All restricted shares would be earned if the return on equity was 20.0% or greater, and the percentage of shares earned will be reduced proportionately to approximately 66.7% if the return on equity was 10.0%. If the Company did not achieve a return on equity of at least 10.0%, all awards would have been be forfeited. During fiscal 2021, the return on equity was approximately 20.0%; therefore all 82,722 shares were earned. Restrictions on the earned shares will lapse ratably over four years, with the first 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). Both of the Fiscal 2021 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.

In August 2020, we granted to members of the Board of Directors 26,064 shares of restricted stock (the Board of Directors Fiscal 2021 Restricted Stock Award), which vested six months after the grant date. The Board of Directors Fiscal 2021 Restricted Stock Awards were valued at the closing price of the stock on the date of the grant and were expensed over a six-month period.

The fair value of restricted stock is estimated based on the stock price at the date of the grant. The following table summarizes the activity for nonvested restricted shares during the fiscal years ended March 31, 2021, 2020, and 2019:

	For the Years Ended March 31,
	2021					2020					2019
	Number of Shares			Weighted- Average Grant Date Fair Value		Number of Shares			Weighted- Average Grant Date Fair Value		Number of Shares			Weighted- Average Grant Date Fair Value
Nonvested Restricted Stock at Beginning of Year		233,120		$	75.35		300,115		$	78.94		328,059		$	72.52
Granted		179,377		$	63.83		118,292		$	90.08		121,836		$	105.73
Vested		(136,280	)	$	78.89		(169,347	)	$	92.98		(147,790	)	$	75.94
Cancelled		(9,127	)	$	71.46		(15,940	)	$	58.64		(1,990	)	$	100.88
Nonvested Restricted Stock at End of Year		267,090		$	62.56		233,120		$	75.35		300,115		$	78.94

Expense related to restricted shares was $10.4 million, $15.3 million, and $11.3 million in fiscal years ended March 31, 2021, 2020, and 2019, respectively. At March 31, 2021, there were approximately 267,000 shares with remaining restrictions, for which $12.6 million of unearned compensation will be recognized over a weighted-average period of 2.4 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 3,449,686 at March 31, 2021. Of the available shares, a total of 1,085,034 shares can be used for future restricted stock and restricted stock unit grants.

NET INTEREST EXPENSE

12 Months Ended

Mar. 31, 2020

Banking And Thrift Interest [Abstract]

NET INTEREST EXPENSE

(M) Net Interest Expense

The following components are included within Interest Expense, net:

	For the Years Ended March 31,
	2021			2020			2019
	(dollars in thousands)
Interest Income	$	(66	)	$	(34	)	$	(123	)
Interest Expense		40,624			36,956			27,329
Other Expenses		3,862			1,499			1,168
Interest Expense, net	$	44,420		$	38,421		$	28,374

Interest Income includes interest earned on investments of excess Cash and Restricted Cash. Components of Interest Expense include interest associated with the Revolving Credit Facility, Term Loan, Senior Unsecured Notes, Private Placement Senior Unsecured Notes (retired in October 2019), 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 and Term Loan costs.

PENSION AND PROFIT SHARING PLANS

12 Months Ended

Mar. 31, 2021

Compensation And Retirement Disclosure [Abstract]

PENSION AND PROFIT SHARING PLANS

(N) Pension and Profit Sharing Plans

We offer our employees multiple retirement and profit sharing plans.

Pension Plans

We have several defined benefit and defined contribution retirement plans which together cover substantially all of our employees. Benefits paid under the defined benefit plans covering certain hourly employees are based on years of service and each employee’s qualifying compensation over the last few years of employment. During fiscal 2020, the last of our pension plans that was still accruing benefits was frozen; therefore, none of our pension plans are accruing additional benefits. Our funding policy is to generally contribute amounts to ensure our pension assets are consistent with our pension liabilities. The annual measurement date is March 31 for the benefit obligations, fair value of plan assets, and the funded status of the defined benefit plans.

The following table provides a reconciliation of the Obligations and Fair Values of Plan Assets for all defined benefit plans over the two-year period ended March 31, 2021, and a statement of the funded status as of March 31, 2021 and 2020:

	For the Years Ended March 31,
	2021			2020
	(dollars in thousands)
Reconciliation of Benefit Obligations -
Benefit Obligation at April 1,	$	36,701		$	33,730
Service Cost - Benefits Earned During the Period		—			339
Interest Cost on Projected Benefit Obligation		1,216			1,351
Actuarial (Gain) Loss		1,714			2,464
Benefits Paid		(1,251	)		(1,183	)
Sale of Business		(2,536	)		—
Benefit Obligation at March 31,	$	35,844		$	36,701
Reconciliation of Fair Value of Plan Assets -
Fair Value of Plan Assets at April 1,	$	39,009		$	36,541
Actual Return on Plan Assets		2,939			3,651
Benefits Paid		(1,251	)		(1,183	)
Sale of Business		(2,790	)		—
Fair Value of Plan Assets at March 31,		37,907			39,009
Funded Status -
Funded Status at March 31,	$	2,063		$	2,308
Amounts Recognized in the Balance Sheet Consist of -
Other Assets	$	2,063		$	2,308
Accumulated Other Comprehensive Losses:
Net Actuarial Loss		4,524			4,709
Prior Service Cost		—			—
Accumulated Other Comprehensive Losses	$	4,524		$	4,709
Tax impact		(1,086	)		(1,128	)
Accumulated Other Comprehensive Losses, net of tax	$	3,438		$	3,581

The table below summarizes the Company’s Projected Benefit Obligation, Accumulated Benefit Obligation, and Fair Value of Plan Assets at March 31, 2021 and 2020:

	March 31,
	2021		2020
	(dollars in thousands)
Projected Benefit Obligation	$	35,844	$	36,701
Accumulated Benefit Obligation	$	35,844	$	36,701
Fair Value of Plan Assets	$	37,907	$	39,009

Net periodic pension cost for the fiscal years ended March 31, 2021, 2020, and 2019, included the following components:

	For the Years Ended March 31,
	2021			2020			2019
	(dollar in thousands)
Service Cost - Benefits Earned During the Period	$	—		$	339		$	399
Interest Cost of Projected Benefit Obligation		1,216			1,351			1,347
Expected Return on Plan Assets		(1,419	)		(1,702	)		(1,853	)
Recognized Net Actuarial Loss		133			153			230
Amortization of Prior-Service Cost		—			19			61
Net Periodic Pension Cost	$	(70	)	$	160		$	184

Expected benefit payments over the next five years, and the following five years under the pension plans are expected to be as follows (dollars in thousands):

Fiscal Years	Total
2022	$	1,616
2023	$	1,651
2024	$	1,675
2025	$	1,774
2026	$	1,836
2027-2031	$	9,621

The following tables set forth the assumptions used in the actuarial calculations of the present value of Net Periodic Benefit Costs and Benefit Obligations:

	March 31,
	2021			2020			2019
Net Periodic Benefit Costs -
Discount Rate		3.64	%		4.09	%		4.12	%
Expected Return on Plan Assets		4.00	%		4.75	%		5.50	%
Rate of Compensation Increase	n/a				3.50	%		3.50	%

	March 31,
	2021			2020
Benefit Obligations -
Discount Rate		3.33	%		3.64	%
Rate of Compensation Increase	n/a				3.50	%

The expected long-term rate of return on plan assets is an assumption reflecting the anticipated weighted-average rate of earnings on the portfolio over the long term. To determine this rate, we developed estimates of the key components underlying capital asset returns which include: market-based estimates of inflation, real risk-free rates of return, yield curve structure, credit-risk premiums, and equity risk premiums. Because all of our pension plans are frozen beginning in fiscal 2021, the rate of compensation increase is not applicable. We used these components as appropriate to develop benchmark estimates for the expected long-term management approach that we employ.

The pension plans’ approximate weighted-average asset allocation at March 31, 2021 and 2020 and the range of target allocation are as follows:

		Percentage of Plan Assets at March 31,
	Range of Target Allocation	2021			2020
Asset Category -
Equity Securities	10 – 20%		19	%		9	%
Debt Securities	60 – 90%		79	%		89	%
Other	0 – 20%		2	%		2	%
Total			100	%		100	%

Our pension investment strategies have been developed as part of a comprehensive management process that considers the interaction between the assets and liabilities within each plan. These strategies consider not only the expected risks and returns on plan assets, but also the detailed actuarial projections of liabilities as well as plan-level objectives, such as projected contributions, expense, and funded status.

The principal pension investment strategies include asset allocation and active asset management. The range of target asset allocations has been determined given the current funded status of the plan. Each asset class is actively managed by one or more external money managers with the objective of generating returns, net of management fees, that exceed market-based benchmarks. None of the plans hold any Company stock.

Based on our current actuarial estimates, we do not anticipate making any contributions to our defined benefit plans for fiscal year 2022.

The fair values of our defined benefit plans’ consolidated assets by category as of March 31, 2021 and 2020 were as follows:

	March 31,
	2021		2020
	(dollars in thousands)
Equity Securities	$	7,277	$	3,470
Fixed Income Securities		30,010		34,579
Real Estate Funds		160		107
Cash Equivalents		460		853
Total	$	37,907	$	39,009

The fair values of our defined benefit plans’ consolidated assets were determined using the fair value hierarchy of inputs described in Footnote (A) to the Consolidated Financial Statements.

The fair values by category of inputs as of March 31, 2021 were as follows:

	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Asset Categories	(dollars in thousands)
Equity Securities	$	—	$	7,277	$	—	$	7,277
Fixed Income Securities		—		30,010		—		30,010
Real Estate Funds		—		160		—		160
Cash Equivalents		460		—		—		460
	$	460	$	37,447	$	—	$	37,907

The fair values by category of inputs as of March 31, 2020 were as follows:

	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Asset Categories	(dollars in thousands)
Equity Securities	$	—	$	3,470	$	—	$	3,470
Fixed Income Securities		—		34,579		—		34,579
Real Estate Funds		—		107		—		107
Cash Equivalents		853		—		—		853
	$	853	$	38,156	$	—	$	39,009

Equity securities consist of funds that are not actively traded. These funds are maintained by an investment manager and are primarily invested in indexes. The remaining funds, excluding cash, primarily consist of investments in institutional funds.

Profit Sharing Plans

We also provide profit sharing plans, which cover substantially all salaried and certain hourly employees. The profit sharing plans are defined contribution plans funded by employer discretionary contributions; employees may also contribute a certain percentage of their base annual salary. Employees are fully vested in their own contributions and become fully vested in any Company contributions over a four-year period. Costs relating to the employer discretionary contributions for our plan totaled $8.3 million, $8.2 million, and $8.0 million in fiscal years 2021, 2020, and 2019, respectively.

Individuals who became our employees as a result of a previous transaction are provided benefits substantially comparable to those provided under the seller’s benefit plans. These plans include the seller’s 401(k) plan, which allows for employer matching percentages of hourly employees. As a result, we made matching contributions to the hourly profit sharing plan totaling $1.1 million, $0.7 million, and $0.6 million for these employees during fiscal years 2021, 2020, and 2019, respectively.

Approximately fifty of our employees belong to three different multi-employer plans. The collective bargaining agreements for the employees who participate in the multi-employer plans expire in February 2024 and March 2025. Our expense related to these plans was approximately $1.8 million, $1.7 million, and $1.5 million during fiscal years 2021, 2020, and 2019, respectively. We anticipate the total expense in fiscal 2022 related to these plans will be approximately $1.9 million.

- Definition

The entire disclosure for retirement benefits.

+ References

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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-URI http://asc.fasb.org/extlink&oid=118255775&loc=d3e1928-114920

+ Details

QUARTERLY RESULTS (UNAUDITED)

12 Months Ended

Mar. 31, 2021

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY RESULTS (UNAUDITED)

(O) QUARTERLY RESULTS (UNAUDITED)

	For the Years Ended March 31,
	2021		2020
	(dollars in thousands, except per share data)
First Quarter -
Revenue	$	426,989	$	355,365
Gross Profit		102,297		78,094
Earnings from Continuing Operations Before Income Taxes		129,927		57,564
Net Earnings from Continuing Operations		97,091		43,333
Net Earnings		96,206		41,304
Diluted Earnings Per Share from Continuing Operations	$	2.34	$	0.98
Diluted Earnings Per Share	$	2.31	$	0.94
Second Quarter -
Revenue	$	447,684	$	400,569
Gross Profit		122,849		109,020
Earnings from Continuing Operations Before Income Taxes		109,671		98,367
Net Earnings from Continuing Operations		89,871		75,064
Net Earnings		96,034		71,793
Diluted Earnings Per Share from Continuing Operations	$	2.16	$	1.80
Diluted Earnings Per Share	$	2.31	$	1.72
Third Quarter -
Revenue	$	404,667	$	342,904
Gross Profit		113,379		93,203
Earnings from Continuing Operations Before Income Taxes		105,072		56,157
Net Earnings from Continuing Operations		81,193		43,474
Net Earnings		81,193		(114,632	)
Diluted Earnings Per Share from Continuing Operations	$	1.94	$	1.04
Diluted Earnings Per Share	$	1.94	$	(2.76	)
Fourth Quarter -
Revenue	$	343,302	$	305,195
Gross Profit		69,830		62,349
Earnings from Continuing Operations Before Income Taxes		79,442		43,607
Net Earnings from Continuing Operations		66,011		69,320
Net Earnings		66,011		72,429
Diluted Earnings Per Share from Continuing Operations	$	1.56	$	1.67
Diluted Earnings Per Share	$	1.56	$	1.74

Operating Earnings for our Cement, Gypsum Wallboard, and Recycled Paperboard segments were adversely affected during the fourth quarter of fiscal 2021 by a severe winter storm in February 2021. This storm had a significant impact on Texas and the broader southern United States. Our cement facilities in Texas, Missouri, and Oklahoma were forced to curtail production and energy prices spiked during this time period. We estimate the storm’s impact was approximately $6.0 million in additional cement costs during the fiscal fourth quarter. Our paper mill, which is located in Oklahoma, was forced to curtail production during the week of the storm, and also experienced higher energy costs during the shutdown. Shipments of gypsum wallboard were significantly affected by the extreme winter conditions. We estimate that the storm affected fourth quarter Light Materials sector earnings by approximately $6.0 million. Although the operating earnings of our Light Materials sector were adversely affected by the storm, we were able to curtail some of our operations and release a portion of our natural gas commitments to third parties in a timely manner. The release of these commitments contributed to a significant increase in Other Non-Operating Income (Loss) in the fiscal fourth quarter.

We are still engaged in discussions with contractual counterparties regarding the responsibility for certain charges and obligations arising as a result of the storm. It is therefore it is not possible at the present time to make a final determination as to the storms impact on the financial results of our cement facilities and Light Materials sector.

The third quarter of fiscal 2020 included a pre-tax impairment loss of approximately $25.1 million related to assets included in our Oil and Gas Proppants segment. These assets were not included in the sale of the Oil and Gas Proppants business in September 2020. See Footnotes (A) and (C) for more information.

The fourth quarter of fiscal 2020 included pre-tax costs related to business development and separation costs of approximately $6.5 million, outage and purchase accounting costs at Kosmos Cement Company of approximately $6.8 million, and plant expansion costs at our recycled paper mill of approximately $3.0 million. The outage and purchase accounting costs and expansion costs are included in Cost of Goods Sold, while the business development and separation costs are included in Corporate, General, and Administrative Expense on our Consolidated Statement of Earnings. The Company also recorded a $31.7 million net income tax benefit related to the CARES Act during the fourth quarter. See Footnote (J) for more information about the CARES Act.

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Basis of Presentation

Cash and Cash Equivalents

Cash Equivalents include short-term, highly liquid investments with original maturities of three months or less and are recorded at cost, which approximates market value.

Restricted Cash

Accounts and Notes Receivable

Inventories

	March 31,
	2021		2020
	(dollars in thousands)
Raw Materials and Materials-in-Progress	$	92,696	$	110,558
Finished Cement		34,362		43,538
Aggregates		2,933		8,416
Gypsum Wallboard		4,177		4,211
Paperboard		5,031		5,715
Repair Parts and Supplies		86,750		88,094
Fuel and Coal		9,800		11,589
	$	235,749	$	272,121

Property, Plant and Equipment

Property, Plant, and Equipment


Plants		20 to 30 years
Buildings		20 to 40 years
Machinery and Equipment		3 to 25 years

Goodwill and Intangible Assets

Goodwill

Intangible Assets

Intangible Assets at March 31, 2021 and 2020, consist of the following:

	March 31, 2021
	Amortization Period	Cost		Purchase Price Adjustments			Accumulated Amortization			Net
	(dollars in thousands)
Goodwill and Intangible Assets:
Customer Contracts and Relationships	15 years	$	105,810	$	2,800		$	(66,445	)	$	42,165
Permits	25-40 years		30,410		—			(10,759	)		19,651
Trade Name	15 years		1,500		—			(138	)		1,362
Goodwill			331,592		(2,455	)		—			329,137
Total Goodwill and Intangible Assets		$	469,312	$	345		$	(77,342	)	$	392,315

	March 31, 2020
	Amortization Period	Cost		Additions		Accumulated Amortization			Net
	(dollars in thousands)
Goodwill and Intangible Assets:
Customer Contracts and Relationships	15 years	$	72,260	$	33,550	$	(62,950	)	$	42,860
Permits	25-40 years		28,640		1,770		(9,889	)		20,521
Trade Name	15 years		—		1,500		(10	)		1,490
Goodwill			198,371		133,221		—			331,592
Total Goodwill and Intangible Assets		$	299,271	$	170,041	$	(72,849	)	$	396,463

Impairment or Disposal of Long-Lived and Intangible Assets

	For the Years Ended March 31,
	2020		2019
	(dollars in thousands)
Property, Equipment, and Real Estate	$	11,213	$	37,179
Lease Right-of-Use Assets		13,918		—
	$	25,131	$	37,179

Other Assets

Other Assets are primarily composed of financing costs related to our revolving credit facility, deferred expenses, and deposits.

Income Taxes

Stock Repurchases

Revenue Recognition

See Footnote (I) for disaggregation of Revenue by segment.

Comprehensive Income/Losses

Consolidated Cash Flows - Supplemental Disclosures

Consolidated Cash Flows – Supplemental Disclosures

Supplemental cash flow information is as follows:

	For the Years Ended March 31,
	2021		2020		2019
	(dollars in thousands)
Cash Payments:
Interest	$	42,343	$	37,610	$	28,191
Income Taxes		32,870		20,046		39,974
Operating Cash Flows Used for Operating Leases		10,741		14,926		—

Non-Cash Financing Activities:
Right-of-use Assets Obtained for Capitalized Operating Lease Liabilities	$	272	$	621	$	—

Statements of Consolidated Earnings - Supplemental Disclosures

Statements of Consolidated Earnings – Supplemental Disclosures

Selling, General and Administrative Expenses

Selling, General, and Administrative Expenses

Total Selling, General, and Administrative Expenses for each of the periods are summarized as follows:

	For the Years Ended March 31,
	2021		2020		2019
	(dollars in thousands)
Operating Units Selling, G&A	$	56,309	$	57,077	$	53,787
Corporate G&A		49,511		65,410		37,371
	$	105,820	$	122,487	$	91,158

Earnings Per Share

	For the Years Ended March 31,
	2021			2020			2019
Weighted-Average Shares of Common Stock Outstanding		41,543,067			42,021,892			46,620,894
Effect of Dilutive Shares:
Assumed Exercise of Outstanding Dilutive Options		570,325			623,779			539,135
Less Shares Repurchased from Proceeds of Assumed Exercised Options		(429,815	)		(481,853	)		(374,380	)
Restricted Stock Units		143,132			121,525			146,731
Weighted-Average Common Stock and Dilutive Securities Outstanding		41,826,709			42,285,343			46,932,380

The line Less Shares Repurchased from Proceeds of Assumed Exercised Options includes unearned compensation related to outstanding stock options.

Share-Based Compensation

Fair Value Measures

Level 1 – Quoted prices for identical assets and liabilities in active markets;

Recent Accounting Pronouncements

RECENTLY ADOPTED

PENDING ADOPTION

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Schedule of Inventories

Inventories consist of the following:

	March 31,
	2021		2020
	(dollars in thousands)
Raw Materials and Materials-in-Progress	$	92,696	$	110,558
Finished Cement		34,362		43,538
Aggregates		2,933		8,416
Gypsum Wallboard		4,177		4,211
Paperboard		5,031		5,715
Repair Parts and Supplies		86,750		88,094
Fuel and Coal		9,800		11,589
	$	235,749	$	272,121

Schedule of Property, Plant and Equipment Estimated Useful Lives

The estimated useful lives of the related assets are as follows:


Plants		20 to 30 years
Buildings		20 to 40 years
Machinery and Equipment		3 to 25 years

Schedule of Intangible Assets, Including Impact of Impairment Charge

Intangible Assets at March 31, 2021 and 2020, consist of the following:

	March 31, 2021
	Amortization Period	Cost		Purchase Price Adjustments			Accumulated Amortization			Net
	(dollars in thousands)
Goodwill and Intangible Assets:
Customer Contracts and Relationships	15 years	$	105,810	$	2,800		$	(66,445	)	$	42,165
Permits	25-40 years		30,410		—			(10,759	)		19,651
Trade Name	15 years		1,500		—			(138	)		1,362
Goodwill			331,592		(2,455	)		—			329,137
Total Goodwill and Intangible Assets		$	469,312	$	345		$	(77,342	)	$	392,315

	March 31, 2020
	Amortization Period	Cost		Additions		Accumulated Amortization			Net
	(dollars in thousands)
Goodwill and Intangible Assets:
Customer Contracts and Relationships	15 years	$	72,260	$	33,550	$	(62,950	)	$	42,860
Permits	25-40 years		28,640		1,770		(9,889	)		20,521
Trade Name	15 years		—		1,500		(10	)		1,490
Goodwill			198,371		133,221		—			331,592
Total Goodwill and Intangible Assets		$	299,271	$	170,041	$	(72,849	)	$	396,463

Summary of Impairment Charges Related to Assets

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

	For the Years Ended March 31,
	2020		2019
	(dollars in thousands)
Property, Equipment, and Real Estate	$	11,213	$	37,179
Lease Right-of-Use Assets		13,918		—
	$	25,131	$	37,179

Schedule of Supplemental Cash Flow Information

Supplemental cash flow information is as follows:

	For the Years Ended March 31,
	2021		2020		2019
	(dollars in thousands)
Cash Payments:
Interest	$	42,343	$	37,610	$	28,191
Income Taxes		32,870		20,046		39,974
Operating Cash Flows Used for Operating Leases		10,741		14,926		—

Non-Cash Financing Activities:
Right-of-use Assets Obtained for Capitalized Operating Lease Liabilities	$	272	$	621	$	—

Schedule of Total Selling, General and Administrative Expenses

Total Selling, General, and Administrative Expenses for each of the periods are summarized as follows:

	For the Years Ended March 31,
	2021		2020		2019
	(dollars in thousands)
Operating Units Selling, G&A	$	56,309	$	57,077	$	53,787
Corporate G&A		49,511		65,410		37,371
	$	105,820	$	122,487	$	91,158

Schedule of Earnings Per Share

	For the Years Ended March 31,
	2021			2020			2019
Weighted-Average Shares of Common Stock Outstanding		41,543,067			42,021,892			46,620,894
Effect of Dilutive Shares:
Assumed Exercise of Outstanding Dilutive Options		570,325			623,779			539,135
Less Shares Repurchased from Proceeds of Assumed Exercised Options		(429,815	)		(481,853	)		(374,380	)
Restricted Stock Units		143,132			121,525			146,731
Weighted-Average Common Stock and Dilutive Securities Outstanding		41,826,709			42,285,343			46,932,380

ACQUISITION (Tables)

12 Months Ended

Mar. 31, 2021

Preliminary Fair Values of the Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of the purchase price to assets acquired and liabilities assumed as of December 31, 2020, when the allocation was determined to be final:

	(dollars in thousands)
Inventories	$	28,568
Property, Plant, and Equipment		476,698
Intangible Assets		38,300
Lease Right-of-Use Assets		4,478
Lease Obligations		(4,478	)
Long-term Liabilities		(3,756	)
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 Years Ended March 31,
	2020			2021
	(dollars in thousands)
Revenue	$	7,880		$	175,511
Operating Earnings (Loss)	$	(6,756	)	$	34,084

Unaudited Pro Forma Results

	For the Year Ended March 31,
	2020		2019
	Unaudited
	(dollars in thousands)
Revenue	$	1,558,342	$	1,471,350
Net Earnings	$	50,189	$	66,377
Earnings Per Share – basic	$	1.19	$	1.42
Earnings Per Share - diluted	$	1.19	$	1.41

ConAgg Acquisition [Member]

Preliminary Fair Values of the Assets Acquired and Liabilities Assumed

The purchase price for the ConAgg Acquisition was allocated as follows:

	As of August 2, 2019
	(dollars in thousands)
Accounts Receivable	$	6,302
Inventories		1,921
Property, Plant, and Equipment		22,620
Intangible Assets		1,320
Lease Right-of-Use Assets		3,263
Other Assets		10
Lease Obligations		(3,263	)
Accounts Payable and Accrued Expenses		(3,388	)
Total Net Assets		28,785
Goodwill		1,639
Total Estimated Purchase Price	$	30,424

DISCONTINUED OPERATIONS AND OTHER DISPOSITIONS - (Tables)

12 Months Ended

Mar. 31, 2021

Discontinued Operations And Disposal Groups [Abstract]

Summary of Disposal Groups, Including Discontinued Operations

The following is a summary of operating results included in Earnings (Loss) from Discontinued Operations for the fiscal years ended March 31, 2021, 2020, and 2019.

	For the Years Ended March 31,
	2021			2020			2019
	(dollars in thousands, except share and per share data)
Revenue	$	1,045		$	46,781		$	82,987
Cost of Goods Sold		3,415			58,185			104,521
Gross Profit		(2,370	)		(11,404	)		(21,534	)
Other Non-Operating Income		226			569			577
Gain on Sale of Discontinued Operations		9,230			—			—
Impairment Losses		—			(199,136	)		(183,086	)
Earnings (Loss) from Discontinued Operations		7,086			(209,971	)		(204,043	)
Income Tax (Expense) Benefit		(1,808	)		49,674			49,397
Net Earnings (Loss) from Discontinued Operations	$	5,278		$	(160,297	)	$	(154,646	)

The significant components of our Consolidated Statements of Cash Flows for discontinued operations for the fiscal years ended March 31, 2021, 2020, and 2019 are as follows:

	For the Years Ended December 31,
	2021			2020		2019
	(dollars in thousands)
Depreciation and Amortization	$	221		$	11,310	$	31,328
Impairment Losses	$	—		$	199,136	$	183,086
Gain on Sale of Business	$	(9,230	)	$	—	$	—
Net Change in Inventory	$	—		$	3,200	$	1,506
Capital Expenditures	$	—		$	146	$	52,286

The following is a summary of assets and liabilities attributable to discontinued operations, which were included on our balance sheet at March 31, 2020:

	March 31,
	2020
	(dollars in thousands)
ASSETS
Accounts and Notes Receivable	$	9,019
Allowance for Doubtful Accounts		(3,041	)
Inventories		387
Prepaid and Other Assets		727
Total Current Assets		7,092
Property, Plant, and Equipment, net		5,692
Operating Lease Right-of-Use Assets		1,047
Total Noncurrent Assets		6,739
	$	13,831

LIABILITIES
Accounts Payable	$	2,014
Accrued Liabilities		2,851
Operating Lease Liabilities		3,622
Total Current Liabilities		8,487
Noncurrent Operating Lease Liabilities		9,570
Other Long-term Liabilities		5,857
Total Noncurrent Liabilities		15,427
	$	23,914

Summary of Revenue and Operating Earnings

Revenue and Operating Earnings from Western and Mathews, collectively, for fiscal years 2021, 2020 and 2019 are as follows:

	For the Years Ended March 31,
	2021		2020		2019
	(dollars in thousands)
Revenue	$	1,692	$	32,255	$	27,790
Operating Earnings	$	142	$	4,837	$	2,481

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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+ Details

PROPERTY, PLANT AND EQUIPMENT (Tables)

12 Months Ended

Mar. 31, 2021

Property Plant And Equipment [Abstract]

Schedule of Property, Plant and Equipment

Cost by major category and Accumulated Depreciation are summarized as follows:

	March 31,
	2021			2020
	(dollars in thousands)
Land and Quarries	$	217,439		$	231,163
Plants		2,363,937			2,353,526
Buildings, Machinery, and Equipment		180,340			196,285
Construction in Progress		23,097			30,406
		2,784,813			2,811,380
Accumulated Depreciation		(1,125,713	)		(1,054,963	)
	$	1,659,100		$	1,756,417

ACCRUED EXPENSES (Tables)

12 Months Ended

Mar. 31, 2021

Payables And Accruals [Abstract]

Schedule of Accrued Expenses

Accrued expenses consist of the following:

	As of March 31,
	2021		2020
	(dollars in thousands)
Payroll and Incentive Compensation	$	32,336	$	24,904
Benefits		14,979		12,447
Interest		3,089		4,080
Property Taxes		6,683		5,110
Power and Fuel		2,350		1,353
Freight		1,575		529
Legal and Professional		9,511		16,096
Sales and Use Tax		1,265		1,085
Other		7,052		4,838
	$	78,840	$	70,442

LEASES (Tables)

12 Months Ended

Mar. 31, 2021

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 Years Ended March 31,
	2021		2020
	(dollars in thousands)
Operating Lease Cost	$	6,757	$	7,966
Short-term Lease Cost		2,562		1,279
Total Lease Cost	$	9,319	$	9,245

Schedule of Balance Sheet Information Related to Leases

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

	As of March 31,
	2021		2020
	(dollars in thousands)
Operating Leases:
Operating Lease Right-of-Use Assets	$	25,811	$	29,483

Current Operating Lease Liabilities	$	6,343	$	6,585
Noncurrent Operating Lease Liabilities		34,444		40,239
Total Operating Lease Liabilities	$	40,787	$	46,824

Schedule of Future Payments for Operating Leases

Future payments for operating leases are as follows:

	Amount
Fiscal Year	(dollars in thousands)
2022	$	7,556
2023		6,969
2024		6,007
2025		5,651
2026		4,170
Thereafter		20,416
Total Lease Payments	$	50,769
Less: Imputed Interest		(9,982	)
Present Value of Lease Liabilities	$	40,787

Weighted Average Remaining Lease Term (in years)		10.5
Weighted Average Discount Rate		3.79	%

INDEBTEDNESS (Tables)

12 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt consists of the following:

	As of March 31,
	2021			2020
	(dollars in thousands)
Bank Credit Facility	$	—		$	560,000
4.500% Senior Unsecured Notes Due 2026		350,000			350,000
Term Loan		665,000			665,000
Total Debt		1,015,000			1,575,000
Less: Debt Origination Costs		(6,384	)		(7,685	)
Long-term Debt	$	1,008,616		$	1,567,315

Schedule of Maturities of Long-Term Debt

Our maturities of long-term debt during the next five fiscal years and thereafter are as follows:

Fiscal Year	Amount
2022	$	—
2023		—
2024		665,000
2025		—
2026		—
Thereafter		350,000
Total	$	1,015,000

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	%

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value of Senior Notes

	Fair Value
	(dollars in thousands)
4.500% Senior Unsecured Notes Due 2026	$	361,675

BUSINESS SEGMENTS (Tables)

12 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Financial Information Related to Operations by Segment

The following tables below set forth certain financial information relating to our operations by segment.

	For the Years Ended March 31,
	2021			2020			2019
	(dollars in thousands)
Revenue -
Cement	$	944,556		$	752,002		$	656,759
Concrete and Aggregates		168,829			182,775			140,173
Gypsum Wallboard		539,009			508,145			532,712
Paperboard		163,507			159,963			167,656
		1,815,901			1,602,885			1,497,300
Less: Intersegment Revenue		(88,068	)		(85,316	)		(82,553	)
Less: Joint Venture Revenue		(105,191	)		(113,536	)		(104,493	)
	$	1,622,642		$	1,404,033		$	1,310,254

	For the Years Ended March 31,
	2021		2020		2019
	(dollars in thousands)
Intersegment Revenue -
Cement	$	20,862	$	21,499	$	14,408
Concrete and Aggregates		106		1,502		1,422
Paperboard		67,100		62,315		66,723
	$	88,068	$	85,316	$	82,553
Cement Sales Volume (M tons) -
Wholly Owned		6,576		4,975		4,441
Joint Venture		890		956		899
		7,466		5,931		5,340

	For the Years Ended March 31,
	2021				2020			2019
				(dollars in thousands)
Operating Earnings -
Cement	$	233,957			$	181,330		$	164,782
Concrete and Aggregates		19,054				17,558			12,866
Gypsum Wallboard		167,336				154,614			180,831
Paperboard		25,449				34,979			35,349
Other		—				(3,230	)		(7,161	)
Sub-Total		445,796				385,251			386,667
Corporate General and Administrative Expense		(49,511	)			(65,410	)		(37,371	)
Gain on Sale of Businesses		51,973				—			—
Impairment Losses		—				(25,131	)		(37,179	)
Litigation Settlements and Losses		—				—			(1,800	)
Other Non-Operating Income (Loss)		20,274				(594	)		1,835
Earnings Before Interest and Income Taxes		468,532				294,116			312,152
Interest Expense, net		(44,420	)			(38,421	)		(28,374	)
Earnings Before Income Taxes	$	424,112			$	255,695		$	283,778
Cement Operating Earnings -
Wholly Owned	$	196,516			$	138,745		$	126,217
Joint Venture		37,441				42,585			38,565
	$	233,957			$	181,330		$	164,782
Capital Expenditures -
Cement	$	26,708			$	44,776		$	76,504
Concrete and Aggregates		3,114				11,898			6,649
Gypsum Wallboard		12,889				12,771			10,724
Paperboard		11,222				62,528			16,603
Corporate and Other		—				—			6,107
	$	53,933			$	131,973		$	116,587
Depreciation, Depletion, and Amortization -
Cement	$	77,524			$	59,081		$	52,802
Concrete and Aggregates		10,807				11,142			8,176
Gypsum Wallboard		21,646				20,320			20,020
Paperboard		13,913				8,945			8,541
Corporate and Other		4,976				2,720			1,668
	$	128,866			$	102,208		$	91,207

Discontinued Operations
Capital Expenditures	$	—			$	146		$	52,286
Depreciation, Depletion, and Amortization	$	221			$	11,310		$	31,328

	As of March 31,
	2021		2020		2019
	(dollars in thousands)
Identifiable Assets
Cement	$	1,898,930	$	1,980,306	$	1,289,468
Concrete and Aggregates		88,410		136,041		95,084
Gypsum Wallboard		366,352		375,946		372,206
Paperboard		186,156		183,288		138,614
Assets of Discontinued Operations		—		13,831		222,890
Corporate and Other, net		298,833		271,608		50,901
	$	2,838,681	$	2,961,020	$	2,169,163

Segment Breakdown of Goodwill

The segment breakdown of Goodwill at March 31, 2021 and 2020 is as follows:

	For the Years Ended March 31,
	2021		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

INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Components of Provision for Income Taxes

The provision for income taxes from continuing operations includes the following components:

	For the Years Ended March 31,
	2021		2020			2019
	(dollars in thousands)
Current Provision (Benefit) -
Federal	$	67,913	$	(91,304	)	$	53,570
State		9,587		3,004			9,414
		77,500		(88,300	)		62,984
Deferred Provision (Benefit) -
Federal		7,207		108,467			(726	)
State		5,239		4,337			(1,986	)
		12,446		112,804			(2,712	)
Provision for Income Taxes	$	89,946	$	24,504		$	60,272

Schedule of Effective Tax Rates Vary from Federal Statutory Rates

The effective tax rates vary from the federal statutory rates due to the following items:

	For the Years Ended March 31,
	2021			2020			2019
	(dollars in thousands)
Earnings Before Income Taxes	$	424,112		$	255,695		$	283,778
Income Taxes at Statutory Rate	$	89,063		$	53,998		$	59,690
Increases (Decreases) in Tax Resulting from -
State Income Taxes, net		11,713			3,579			5,868
Statutory Depletion in Excess of Cost		(5,263	)		(3,078	)		(3,834	)
Excess Tax Benefit from Stock Compensation		(3,229	)		307			(651	)
Meals and Entertainment Disallowance		220			537			610
Limitation on Officers’ Compensation		1,503			1,018			1,434
Impact of CARES Act of 2020		—			(35,936	)		—
Credits		(400	)		(2,150	)		(940	)
Valuation Allowance		300			2,212			(2,100	)
Change in Reserves		(2,916	)		4,200			—
Other		(1,045	)		(183	)		195
Provision for Income Taxes	$	89,946		$	24,504		$	60,272
Effective Tax Rate		21	%		10	%		21	%

Schedule of Components of Deferred Income Taxes

Components of deferred income taxes are as follows:

	March 31,
	2021			2020
	(dollars in thousands)
Items Giving Rise to Deferred Tax Liabilities -
Excess Tax Depreciation and Amortization	$	(220,269	)	$	(199,096	)
State Income Taxes, net		(21,923	)		(12,225	)
Depletable Assets		(3,540	)		—
Right-of-Use Assets		(6,271	)		(5,441	)
Other		(6,332	)		(5,764	)
Total Deferred Tax Liabilities	$	(258,335	)	$	(222,526	)
Items Giving Rise to Deferred Tax Assets -
Change in Accruals	$	12,046		$	9,373
Depletable Assets		—			12,632
Inventory		1,243			7,217
Bad Debts		1,812			2,642
Long-term Incentive Compensation Plan		3,396			5,590
Credits and Other Carryforwards		17,338			19,861
Lease Liability		9,369			11,384
Pension		906			937
Subtotal		46,110			69,636
Valuation Allowance		(13,761	)		(13,777	)
Total Deferred Tax Assets	$	32,349		$	55,859

Reconciliation of Consolidated Liability for Gross Unrecognized Tax Benefits

The change in unrecognized tax benefits for the years ended March 31, 2021, 2020, and 2019 was as follows:

	For the Years Ended March 31,
	2021			2020		2019
	(dollars in thousands)
Balance at Beginning of Year	$	4,200		$	—	$	—
Increase Related to Current Tax Positions		1,284			4,200		—
Decrease Related to Current Tax Positions		(4,200	)		—		—
Payments		—			—		—
	$	1,284		$	4,200	$	—

STOCK OPTION PLANS (Tables)

12 Months Ended

Mar. 31, 2021

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 and 2020 are as follows:

	2021			2020
Dividend Yield		0.0	%		1.3	%
Expected Volatility		37.9	%		31.4	%
Risk-Free Interest Rate		0.44	%		2.31	%
Expected Life	6.0 years			6.0 years

Stock Option Activity

The following table shows stock option activity for the years presented:

	For the Years Ended March 31,
	2021					2020					2019
	Number of Shares			Weighted- Average Exercise Price		Number of Shares			Weighted- Average Exercise Price		Number of Shares			Weighted- Average Exercise Price
Outstanding Options at Beginning of Year		1,160,091		$	80.36		1,042,925		$	76.88		958,136		$	72.52
Granted		187,121		$	61.92		187,375		$	91.58		125,734		$	103.53
Exercised		(623,617	)	$	70.57		(62,326	)	$	88.28		(38,748	)	$	54.27
Cancelled		(15,094	)	$	92.51		(7,883	)	$	102.69		(2,197	)	$	100.88
Outstanding Options at End of Year		708,501		$	83.85		1,160,091		$	80.36		1,042,925		$	76.88
Options Exercisable at End of Year		416,817					868,081					761,564
Weighted-Average Fair Value of Options Granted during the Year				$	22.68				$	27.35				$	33.11

Stock Options Outstanding

The following table summarizes information about stock options outstanding at March 31, 2021:

	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number of Shares Outstanding		Weighted- Average Remaining Contractual Life		Weighted- Average Exercise Price		Number of Shares Outstanding		Weighted- Average Exercise Price
$33.43 - $37.34		14,373		1.20	$	34.37		14,373	$	34.37
$59.32 - $81.56		260,670		7.72	$	65.46		96,420	$	73.32
$87.34 - $106.24		433,458		6.74	$	96.55		306,024	$	96.93
		708,501		6.99	$	83.85		416,817	$	89.31

Summary of Activity for Nonvested Restricted Shares

	For the Years Ended March 31,
	2021					2020					2019
	Number of Shares			Weighted- Average Grant Date Fair Value		Number of Shares			Weighted- Average Grant Date Fair Value		Number of Shares			Weighted- Average Grant Date Fair Value
Nonvested Restricted Stock at Beginning of Year		233,120		$	75.35		300,115		$	78.94		328,059		$	72.52
Granted		179,377		$	63.83		118,292		$	90.08		121,836		$	105.73
Vested		(136,280	)	$	78.89		(169,347	)	$	92.98		(147,790	)	$	75.94
Cancelled		(9,127	)	$	71.46		(15,940	)	$	58.64		(1,990	)	$	100.88
Nonvested Restricted Stock at End of Year		267,090		$	62.56		233,120		$	75.35		300,115		$	78.94

NET INTEREST EXPENSE (Tables)

12 Months Ended

Mar. 31, 2020

Banking And Thrift Interest [Abstract]

Net Interest Expense, Net

The following components are included within Interest Expense, net:

	For the Years Ended March 31,
	2021			2020			2019
	(dollars in thousands)
Interest Income	$	(66	)	$	(34	)	$	(123	)
Interest Expense		40,624			36,956			27,329
Other Expenses		3,862			1,499			1,168
Interest Expense, net	$	44,420		$	38,421		$	28,374

PENSION AND PROFIT SHARING PLANS (Tables)

12 Months Ended

Mar. 31, 2021

Compensation And Retirement Disclosure [Abstract]

Schedule of Reconciliation of Obligations and Fair Values of Plan Assets

	For the Years Ended March 31,
	2021			2020
	(dollars in thousands)
Reconciliation of Benefit Obligations -
Benefit Obligation at April 1,	$	36,701		$	33,730
Service Cost - Benefits Earned During the Period		—			339
Interest Cost on Projected Benefit Obligation		1,216			1,351
Actuarial (Gain) Loss		1,714			2,464
Benefits Paid		(1,251	)		(1,183	)
Sale of Business		(2,536	)		—
Benefit Obligation at March 31,	$	35,844		$	36,701
Reconciliation of Fair Value of Plan Assets -
Fair Value of Plan Assets at April 1,	$	39,009		$	36,541
Actual Return on Plan Assets		2,939			3,651
Benefits Paid		(1,251	)		(1,183	)
Sale of Business		(2,790	)		—
Fair Value of Plan Assets at March 31,		37,907			39,009
Funded Status -
Funded Status at March 31,	$	2,063		$	2,308
Amounts Recognized in the Balance Sheet Consist of -
Other Assets	$	2,063		$	2,308
Accumulated Other Comprehensive Losses:
Net Actuarial Loss		4,524			4,709
Prior Service Cost		—			—
Accumulated Other Comprehensive Losses	$	4,524		$	4,709
Tax impact		(1,086	)		(1,128	)
Accumulated Other Comprehensive Losses, net of tax	$	3,438		$	3,581

Summary of Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets

The table below summarizes the Company’s Projected Benefit Obligation, Accumulated Benefit Obligation, and Fair Value of Plan Assets at March 31, 2021 and 2020:

	March 31,
	2021		2020
	(dollars in thousands)
Projected Benefit Obligation	$	35,844	$	36,701
Accumulated Benefit Obligation	$	35,844	$	36,701
Fair Value of Plan Assets	$	37,907	$	39,009

Components of Net Periodic Cost

Net periodic pension cost for the fiscal years ended March 31, 2021, 2020, and 2019, included the following components:

	For the Years Ended March 31,
	2021			2020			2019
	(dollar in thousands)
Service Cost - Benefits Earned During the Period	$	—		$	339		$	399
Interest Cost of Projected Benefit Obligation		1,216			1,351			1,347
Expected Return on Plan Assets		(1,419	)		(1,702	)		(1,853	)
Recognized Net Actuarial Loss		133			153			230
Amortization of Prior-Service Cost		—			19			61
Net Periodic Pension Cost	$	(70	)	$	160		$	184

Schedule of Expected Benefit Payments

Expected benefit payments over the next five years, and the following five years under the pension plans are expected to be as follows (dollars in thousands):

Fiscal Years	Total
2022	$	1,616
2023	$	1,651
2024	$	1,675
2025	$	1,774
2026	$	1,836
2027-2031	$	9,621

Schedule of Assumptions Used in Net Periodic Benefit Cost and Benefit Obligations

The following tables set forth the assumptions used in the actuarial calculations of the present value of Net Periodic Benefit Costs and Benefit Obligations:

	March 31,
	2021			2020			2019
Net Periodic Benefit Costs -
Discount Rate		3.64	%		4.09	%		4.12	%
Expected Return on Plan Assets		4.00	%		4.75	%		5.50	%
Rate of Compensation Increase	n/a				3.50	%		3.50	%

	March 31,
	2021			2020
Benefit Obligations -
Discount Rate		3.33	%		3.64	%
Rate of Compensation Increase	n/a				3.50	%

Schedule of Pension Plans Weighted-Average Asset Allocation and Range of Target Allocation

The pension plans’ approximate weighted-average asset allocation at March 31, 2021 and 2020 and the range of target allocation are as follows:

		Percentage of Plan Assets at March 31,
	Range of Target Allocation	2021			2020
Asset Category -
Equity Securities	10 – 20%		19	%		9	%
Debt Securities	60 – 90%		79	%		89	%
Other	0 – 20%		2	%		2	%
Total			100	%		100	%

Schedule of Fair Values of Defined Benefit Plans

The fair values of our defined benefit plans’ consolidated assets by category as of March 31, 2021 and 2020 were as follows:

	March 31,
	2021		2020
	(dollars in thousands)
Equity Securities	$	7,277	$	3,470
Fixed Income Securities		30,010		34,579
Real Estate Funds		160		107
Cash Equivalents		460		853
Total	$	37,907	$	39,009

Schedule of Fair Values of Defined Benefit Plans Determined Using Fair Value Hierarchy of Inputs

The fair values by category of inputs as of March 31, 2021 were as follows:

	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Asset Categories	(dollars in thousands)
Equity Securities	$	—	$	7,277	$	—	$	7,277
Fixed Income Securities		—		30,010		—		30,010
Real Estate Funds		—		160		—		160
Cash Equivalents		460		—		—		460
	$	460	$	37,447	$	—	$	37,907

The fair values by category of inputs as of March 31, 2020 were as follows:

	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Asset Categories	(dollars in thousands)
Equity Securities	$	—	$	3,470	$	—	$	3,470
Fixed Income Securities		—		34,579		—		34,579
Real Estate Funds		—		107		—		107
Cash Equivalents		853		—		—		853
	$	853	$	38,156	$	—	$	39,009

QUARTERLY RESULTS (UNAUDITED) (Tables)

12 Months Ended

Mar. 31, 2021

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Results (unaudited)

	For the Years Ended March 31,
	2021		2020
	(dollars in thousands, except per share data)
First Quarter -
Revenue	$	426,989	$	355,365
Gross Profit		102,297		78,094
Earnings from Continuing Operations Before Income Taxes		129,927		57,564
Net Earnings from Continuing Operations		97,091		43,333
Net Earnings		96,206		41,304
Diluted Earnings Per Share from Continuing Operations	$	2.34	$	0.98
Diluted Earnings Per Share	$	2.31	$	0.94
Second Quarter -
Revenue	$	447,684	$	400,569
Gross Profit		122,849		109,020
Earnings from Continuing Operations Before Income Taxes		109,671		98,367
Net Earnings from Continuing Operations		89,871		75,064
Net Earnings		96,034		71,793
Diluted Earnings Per Share from Continuing Operations	$	2.16	$	1.80
Diluted Earnings Per Share	$	2.31	$	1.72
Third Quarter -
Revenue	$	404,667	$	342,904
Gross Profit		113,379		93,203
Earnings from Continuing Operations Before Income Taxes		105,072		56,157
Net Earnings from Continuing Operations		81,193		43,474
Net Earnings		81,193		(114,632	)
Diluted Earnings Per Share from Continuing Operations	$	1.94	$	1.04
Diluted Earnings Per Share	$	1.94	$	(2.76	)
Fourth Quarter -
Revenue	$	343,302	$	305,195
Gross Profit		69,830		62,349
Earnings from Continuing Operations Before Income Taxes		79,442		43,607
Net Earnings from Continuing Operations		66,011		69,320
Net Earnings		66,011		72,429
Diluted Earnings Per Share from Continuing Operations	$	1.56	$	1.67
Diluted Earnings Per Share	$	1.56	$	1.74

Significant Accounting Policies - Additional Information (Detail) - USD ($)		12 Months Ended
	Sep. 18, 2020	Dec. 31, 2021	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019	Apr. 18, 2019
Significant Accounting Policies [Line Items]
Purchase price of separate operating segment				$ 699,361,000
Gain on Sale of Businesses			$ 51,973,000
Allowance for doubtful accounts			8,100,000	9,300,000
Bad debt expense			700,000	3,400,000	$ 1,200,000
Write off account receivable			1,200,000	300,000	200,000
Notes receivable, total			8,400,000
Notes receivable, current			$ 0
Notes receivable interest rate			3.10%
Notes receivable, maturity description			Remaining unpaid amounts, plus accrued interest, mature in fiscal 2025.
Depreciable assets			$ 120,700,000	109,500,000	118,200,000
Basis of valuation			Property, Plant, and Equipment are stated at cost.
Depreciation method			straight-line basis over the estimated useful lives
Goodwill impairment more likely than not a likelihood as greater percentage of fair value of reportable unit exceeds its carrying value			50.00%
Intangible Assets, Amortization Expense			$ 4,500,000	$ 2,500,000	$ 4,300,000
Amortization expense, expected, for fiscal year 2022			4,600,000
Amortization expense, expected, for fiscal year 2023			4,600,000
Amortization expense, expected, for fiscal year 2024			4,600,000
Amortization expense, expected, for fiscal year 2025			4,600,000
Amortization expense, expected, for fiscal year 2026			$ 4,600,000
Number of additional shares authorized to be repurchased						10,000,000
Repurchase of shares				3,574,109	3,309,670
Shares repurchased average price				$ 87.82	$ 82.18
Stock repurchase remaining number of shares authorized to be repurchased			7,305,649
Cost of Goods Sold			$ 1,214,287,000	$ 1,061,367,000	$ 962,152,000
Accumulated other comprehensive loss			3,438,000	3,581,000
Net of income taxes for accumulated other comprehensive loss			1,100,000
Maintenance and repair expenses			$ 137,200,000	$ 127,000,000.0	$ 116,300,000
Stock options excluded from computation of diluted earnings per share			569,431	475,082	461,575
Stock options, average exercise price per share			$ 89.11	$ 95.46	$ 90.32
Freight [Member]
Significant Accounting Policies [Line Items]
Cost of Goods Sold			$ 177,500,000	$ 168,100,000	$ 169,600,000
Minimum [Member]
Significant Accounting Policies [Line Items]
Long-term supply agreements maturity year			2023
Revenue from contract with customer collection terms			30 days
Maximum [Member]
Significant Accounting Policies [Line Items]
Long-term supply agreements maturity year			2025
Revenue from contract with customer collection terms			75 days
Oil and Gas Proppants [Member]
Significant Accounting Policies [Line Items]
Impairment losses to property, plant, and equipment				$ 11,200,000	$ 37,200,000
Oil and Gas Proppants [Member]
Significant Accounting Policies [Line Items]
Purchase price of separate operating segment	$ 2,000.0
Oil and Gas Proppants [Member] \| Discontinued Operations, Disposed of by Sale
Significant Accounting Policies [Line Items]
Gain on Sale of Businesses	$ 9,200	$ (9,230,000)	$ 9,200,000

Schedule of Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Inventory [Line Items]
Inventories	$ 235,749	$ 272,121
Raw Materials and Material-in-Progress [Member]
Inventory [Line Items]
Inventories	92,696	110,558
Finished Cement [Member]
Inventory [Line Items]
Inventories	34,362	43,538
Aggregates [Member]
Inventory [Line Items]
Inventories	2,933	8,416
Gypsum Wallboard [Member]
Inventory [Line Items]
Inventories	4,177	4,211
Paperboard [Member]
Inventory [Line Items]
Inventories	5,031	5,715
Repair Parts and Supplies [Member]
Inventory [Line Items]
Inventories	86,750	88,094
Fuel and Coal [Member]
Inventory [Line Items]
Inventories	$ 9,800	$ 11,589

Schedule of Property, Plant and Equipment Estimated Useful Lives (Detail)	12 Months Ended
	Mar. 31, 2021
Minimum [Member] \| Plants [Member]
Property, Plant and Equipment [Line Items]
Estimated lives of assets - (years)	20 years
Minimum [Member] \| Buildings [Member]
Property, Plant and Equipment [Line Items]
Estimated lives of assets - (years)	20 years
Minimum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated lives of assets - (years)	3 years
Maximum [Member] \| Plants [Member]
Property, Plant and Equipment [Line Items]
Estimated lives of assets - (years)	30 years
Maximum [Member] \| Buildings [Member]
Property, Plant and Equipment [Line Items]
Estimated lives of assets - (years)	40 years
Maximum [Member] \| Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated lives of assets - (years)	25 years

Schedule of Intangible Assets, Including Impact of Impairment Charges (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Finite Lived Intangible Assets [Line Items]
Intangible Assets, Accumulated Amortization	$ (77,342)	$ 170,041
Goodwill, Cost	331,592	198,371
Goodwill, Additions	(2,455)	133,221
Goodwill, Net	329,137	331,592	$ 129,127
Total Goodwill and Intangible Assets, Cost	469,312	299,271
Goodwill and Intangible Assets, Additions	345
Goodwill and Intangible Assets, net	392,315	396,463
Goodwill, Net	$ 329,137	331,592	$ 129,127
Goodwill and Intangible Assets, Impairment		$ (72,849)
Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Intangible Assets, Useful Life		40 years
Customer Contracts And Relationships [Member]
Finite Lived Intangible Assets [Line Items]
Intangible Assets, Useful Life	15 years	15 years
Intangible Assets, Cost	$ 105,810	$ 72,260
Intangible Assets, Additions	2,800
Intangible Assets, Accumulated Amortization	(66,445)	33,550
Intangible Assets, Net	42,165	42,860
Intangible Assets, Impairment		$ (62,950)
Permits [Member]
Finite Lived Intangible Assets [Line Items]
Intangible Assets, Cost	30,410
Intangible Assets, Accumulated Amortization	(10,759)
Intangible Assets, Net	$ 19,651
Permits [Member] \| Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Intangible Assets, Useful Life	25 years	25 years
Intangible Assets, Cost		$ 28,640
Intangible Assets, Accumulated Amortization		1,770
Intangible Assets, Net		20,521
Intangible Assets, Impairment		$ (9,889)
Permits [Member] \| Maximum [Member]
Finite Lived Intangible Assets [Line Items]
Intangible Assets, Useful Life	40 years
Trade Name [Member]
Finite Lived Intangible Assets [Line Items]
Intangible Assets, Useful Life	15 years	15 years
Intangible Assets, Cost	$ 1,500
Intangible Assets, Accumulated Amortization	(138)	$ 1,500
Intangible Assets, Net	$ 1,362	1,490
Goodwill, Net		1,490
Goodwill and Intangible Assets, net		1,490
Intangible Assets, Impairment		(10)
Intangible Assets, Impairment		(10)
Goodwill, Net		1,490
Goodwill and Intangible Assets, Impairment		$ (10)

Summary of Impairment Losses Recognized (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Impairment Losses		$ 224,267	$ 220,265
Impairment Losses recognized		25,131	37,179
Property, Equipment, and Real Estate [Member]
Impairment Losses recognized		11,213	37,179
Lease Right-of-Use Assets [Member]
Impairment Losses recognized		13,918
Oil and Gas Proppants [Member]
Impairment Losses	$ 25,100	$ 224,300	$ 220,300

Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Cash Payments:
Interest	$ 42,343	$ 37,610	$ 28,191
Income Taxes	32,870	20,046	$ 39,974
Operating Cash Flows Used for Operating Leases	10,741	14,926
Non-Cash Financing Activities:
Right-of-use Assets Obtained for Capitalized Operating Lease Liabilities	$ 272	$ 621

Schedule of Total Selling, General and Administrative Expenses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Accounting Policies [Abstract]
Operating Units Selling, G&A	$ 56,309	$ 57,077	$ 53,787
Corporate G&A	49,511	65,410	37,371
Total selling, general and administrative expenses	$ 105,820	$ 122,487	$ 91,158

Schedule of Earnings Per Share (Detail) - shares	12 Months Ended
Schedule of Earnings Per Share (Detail) - shares	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Earnings Per Share [Abstract]
Weighted-Average Shares of Common Stock Outstanding	41,543,067	42,021,892	46,620,894
Assumed Exercise of Outstanding Dilutive Options	570,325	623,779	539,135
Less Shares Repurchased from Proceeds of Assumed Exercised Options	(429,815)	(481,853)	(374,380)
Restricted Stock Units	143,132	121,525	146,731
Weighted-Average Common Stock and Dilutive Securities Outstanding	41,826,709	42,285,343	46,932,380

- Definition

Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of contingently issuable shares. Contingently issuable shares are those shares that are issuable for little or no cash contingent on certain conditions being met.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 54
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e2603-109256

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e2574-109256

+ Details

Acquisition - Additional Information (Detail) - USD ($) $ in Thousands			12 Months Ended
	Mar. 06, 2020	Aug. 02, 2019	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Business Acquisition [Line Items]
Purcahse price of acquisition				$ 699,361
Income tax expense (benefit)			$ 89,946	24,504	$ 60,272
Kosmos Acquisition [Member]
Business Acquisition [Line Items]
Date of acquisition of business	Mar. 06, 2020
Purcahse price of acquisition	$ 668,900
Depreciation and amortization			21,700	1,800
Inventories			3,700	$ 1,700
Nonrecurring charges			5,600
Income tax expense (benefit)			$ 31,700
ConAgg Acquisition [Member]
Business Acquisition [Line Items]
Date of acquisition of business		Aug. 02, 2019
Purcahse price of acquisition		$ 30,400

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Preliminary Fair Values of the Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Business Combinations [Abstract]
Inventories		$ 28,568
Property, Plant, and Equipment		476,698
Intangible Assets		38,300
Lease Right-of-Use Assets		4,478
Lease Obligations		(4,478)
Long-term Liabilities		(3,756)
Total Net Assets		539,810
Goodwill	$ 329,137	129,127	$ 331,592
Total Estimated Purchase Price		$ 668,937

Summary of the Fair Value Estimates of the Identifiable Intangible Assets (Detail) - Kosmos Acquisition [Member] $ in Thousands	12 Months Ended
	Mar. 31, 2021 USD ($)
Estimated Fair Value [Member]
Business Acquisition [Line Items]
Estimated Fair Value	$ 38,300
Permits [Member]
Business Acquisition [Line Items]
Intangible Assets, Useful Life	20 years
Permits [Member] \| Estimated Fair Value [Member]
Business Acquisition [Line Items]
Estimated Fair Value	$ 1,500
Customer Relationships [member]
Business Acquisition [Line Items]
Intangible Assets, Useful Life	15 years
Customer Relationships [member] \| Estimated Fair Value [Member]
Business Acquisition [Line Items]
Estimated Fair Value	$ 35,300
Trade Name and Technology [member]
Business Acquisition [Line Items]
Intangible Assets, Useful Life	10 years
Trade Name and Technology [member] \| Estimated Fair Value [Member]
Business Acquisition [Line Items]
Estimated Fair Value	$ 1,500

Actual and Pro Forma Impact on Net Sales and Operating Loss (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Business Acquisition [Line Items]
Revenue	$ 343,302	$ 404,667	$ 447,684	$ 426,989	$ 305,195	$ 342,904	$ 400,569	$ 355,365	$ 1,622,642	$ 1,404,033	$ 1,310,254
Operating Earnings (Loss)									445,796	385,251	$ 386,667
Kosmos Acquisition [Member] \| Pro Forma [Member]
Business Acquisition [Line Items]
Revenue									175,511	7,880
Operating Earnings (Loss)									$ 34,084	$ (6,756)

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Unaudited Pro Forma Results (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Business Combinations [Abstract]
Revenue	$ 1,558,342	$ 1,471,350
Net Earnings	$ 50,189	$ 66,377
Earnings Per Share – basic	$ 1.19	$ 1.42
Earnings Per Share - diluted	$ 1.19	$ 1.41

Fair Values of the Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Aug. 02, 2019
Business Acquisition [Line Items]
Inventories		$ 28,568
Property, Plant, and Equipment		476,698
Intangible Assets		38,300
Total Net Assets		539,810
Goodwill	$ 329,137	129,127	$ 331,592
Total Estimated Purchase Price		$ 668,937
ConAgg Acquisition [Member]
Business Acquisition [Line Items]
Accounts Receivable				$ 6,302
Inventories				1,921
Property, Plant, and Equipment				22,620
Intangible Assets				1,320
Lease Right-of-Use Assets				3,263
Other Assets				10
Lease Obligations				(3,263)
Accounts Payable and Accrued Expenses				(3,388)
Total Net Assets				28,785
Goodwill				1,639
Total Estimated Purchase Price				$ 30,424

Discontinued Operations and Other Dispositions - Additional Information (Detail) - USD ($) shares in Millions			12 Months Ended
	Sep. 18, 2020	Apr. 17, 2020	Dec. 31, 2021	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Outstanding borrowings						$ 745,700,000
Gain on Sale of Businesses				$ 51,973,000
Assets				2,838,681,000	$ 2,961,020,000		$ 2,169,163,000
Liabilities				1,479,691,000	1,993,177,000
Discontinued Operations, Disposed of by Sale \| Smart Sand, Inc. [Member] \| Loan and Security Agreement [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Loan amount provided to the purchaser	$ 5,000,000.0
Escrow deposit	$ 5,000,000.0			5,000,000.0
Percentage of loan amount outstanding in shares	50.00%
Fixed rate of interest on loan	6.00%
Interest payment period	one-year
Fixed rate of interest on loan, maturity date	Sep. 18, 2024
Discontinued Operations, Disposed of by Sale \| Smart Sand, Inc. [Member] \| Loan and Security Agreement [Member] \| Modified Interest Rate [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Fixed modified interest rate after a specific time period	8.00%
Discontinued Operations, Disposed of by Sale \| Smart Sand, Inc. [Member] \| Restricted Cash [Member] \| Loan and Security Agreement [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Outstanding borrowings				0
Western Aggregates LLC and Mathews Readymix LLC [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Assets		$ 43,800,000
Liabilities		2,300,000
Western Aggregates LLC and Mathews Readymix LLC [Member] \| Teichert Inc
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Gross proceeds received		$ 93,500,000
Oil and Gas Proppants [Member] \| Discontinued Operations, Disposed of by Sale
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Gain on Sale of Businesses	$ 9,200		$ (9,230,000)	$ 9,200,000
Assets					13,831,000
Liabilities					$ 23,914,000
Oil and Gas Proppants [Member] \| Discontinued Operations, Disposed of by Sale \| Smart Sand, Inc. [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Purchase price paid in shares of common stock	2.0
Oil and Gas Proppants [Member] \| Discontinued Operations, Disposed of by Sale \| Smart Sand, Inc. [Member] \| Prepaid and Other Assets [Member] \| Indemnification Claims as Escrow Deposit [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Purchase price paid in shares of common stock				0.3

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Period Type:

Discontinued Operations and Other Dispositions - Summary of Operating Results from Discontinued Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net Earnings (Loss) from Discontinued Operations	$ 5,278		$ (160,297)		$ (154,646)
Discontinued Operations, Disposed of by Sale \| Oil and Gas Proppants [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Revenue	1,045		46,781		82,987
Cost of Goods Sold	3,415		58,185		104,521
Gross Profit	(2,370)		(11,404)		(21,534)
Other Non-Operating Income	226		569		577
Gain on Sale of Discontinued Operations	9,230
Impairment Losses		$ (199,136)	(199,136)	$ (183,086)	(183,086)
Earnings (Loss) from Discontinued Operations	7,086		(209,971)		(204,043)
Income Tax (Expense) Benefit	(1,808)		49,674		49,397
Net Earnings (Loss) from Discontinued Operations	$ 5,278		$ (160,297)		$ (154,646)

Discontinued Operations and Other Dispositions - Summary of Significant Components of Consolidated Statement of Cash Flows for Discontinued Operations (Details) - USD ($)		12 Months Ended
	Sep. 18, 2020	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Depreciation and Amortization			$ 221,000		$ 11,310,000		$ 31,328,000
Gain on Sale of Business			51,973,000
Capital Expenditures					146,000		52,286,000
Discontinued Operations, Disposed of by Sale \| Oil and Gas Proppants [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Depreciation and Amortization		$ 221,000		$ 11,310,000		$ 31,328,000
Impairment Losses				199,136,000	$ 199,136,000	183,086,000	$ 183,086,000
Gain on Sale of Business	$ 9,200	$ (9,230,000)	$ 9,200,000
Net Change in Inventory				3,200,000		1,506,000
Capital Expenditures				$ 146,000		$ 52,286,000

Discontinued Operations and Other Dispositions - Summary of Assets and Liabilities Attributable to Discontinued Operations (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
ASSETS
Total Current Assets		$ 7,092
Operating Lease Right-of-Use Assets	$ 25,811	29,483
Total Noncurrent Assets		6,739
Total Assets	2,838,681	2,961,020	$ 2,169,163
LIABILITIES
Operating Lease Liabilities	6,343	6,585
Total Current Liabilities		8,487
Noncurrent Operating Lease Liabilities	34,444	40,239
Total Noncurrent Liabilities		15,427
Total Liabilities	$ 1,479,691	1,993,177
Discontinued Operations, Disposed of by Sale \| Oil and Gas Proppants [Member]
ASSETS
Accounts and Notes Receivable		9,019
Allowance for Doubtful Accounts		(3,041)
Inventories		387
Prepaid and Other Assets		727
Total Current Assets		7,092
Property, Plant, and Equipment, net		5,692
Operating Lease Right-of-Use Assets		1,047
Total Noncurrent Assets		6,739
Total Assets		13,831
LIABILITIES
Accounts Payable		2,014
Accrued Liabilities		2,851
Operating Lease Liabilities		3,622
Total Current Liabilities		8,487
Noncurrent Operating Lease Liabilities		9,570
Other Long-term Liabilities		5,857
Total Noncurrent Liabilities		15,427
Total Liabilities		$ 23,914

Discontinued Operations and Other Dispositions - Summary of Revenue and Operating Earnings (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Revenue	$ 343,302	$ 404,667	$ 447,684	$ 426,989	$ 305,195	$ 342,904	$ 400,569	$ 355,365	$ 1,622,642	$ 1,404,033	$ 1,310,254
Operating Earnings (Loss)									445,796	385,251	386,667
Mathews Readymix LLC and Western Aggregates LLC [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Revenue									1,692	32,255	27,790
Operating Earnings (Loss)									$ 142	$ 4,837	$ 2,481

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

Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 2,784,813	$ 2,811,380
Accumulated Depreciation	(1,125,713)	(1,054,963)
Property, Plant and Equipment, Net	1,659,100	1,756,417
Land And Quarries [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	217,439	231,163
Plants [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	2,363,937	2,353,526
Buildings Machinery And Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	180,340	196,285
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 23,097	$ 30,406

Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Accounts Payable And Accrued Liabilities Current [Abstract]
Payroll and Incentive Compensation	$ 32,336	$ 24,904
Benefits	14,979	12,447
Interest	3,089	4,080
Property Taxes	6,683	5,110
Power and Fuel	2,350	1,353
Freight	1,575	529
Legal and Professional	9,511	16,096
Sales and Use Tax	1,265	1,085
Other	7,052	4,838
Accrued Expenses, Total	$ 78,840	$ 70,442

Leases - Additional Information (Detail)	Mar. 31, 2021
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	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
Operating Lease Cost	$ 6,757	$ 7,966
Short-term Lease Cost	2,562	1,279
Total Lease Cost	$ 9,319	$ 9,245

Schedule of Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Operating Leases:
Operating Lease Right-of-Use Assets	$ 25,811	$ 29,483
Current Operating Lease Liabilities	6,343	6,585
Noncurrent Operating Lease Liabilities	34,444	40,239
Total Operating Lease Liabilities	$ 40,787	$ 46,824

Schedule of Future Payments for Operating Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Leases [Abstract]
2022	$ 7,556
2023	6,969
2024	6,007
2025	5,651
2026	4,170
Thereafter	20,416
Total Lease Payments	50,769
Less: Imputed Interest	(9,982)
Present Value of Lease Liabilities	$ 40,787	$ 46,824
Weighted Average Remaining Lease Term (in years)	10 years 6 months
Weighted Average Discount Rate	3.79%

Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2019	Aug. 02, 2016
Debt Instrument [Line Items]
Bank Credit Facility		$ 560,000	$ 0
Total Debt	$ 1,015,000	1,575,000
Less: Debt Origination Costs	(6,384)	(7,685)
Long-term Debt	1,008,616	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 (Parenthetical) (Detail) - 4.500% Senior Unsecured Notes Due 2026 [Member]	12 Months Ended
	Mar. 31, 2021	Aug. 02, 2016
Debt Instrument [Line Items]
Debt instrument, interest rate	4.50%	4.50%
Debt instrument, maturity year	2026

Indebtedness - Additional Information (Detail)				12 Months Ended
Indebtedness - Additional Information (Detail)	Dec. 20, 2019	Aug. 02, 2016 USD ($)	Oct. 31, 2014	Mar. 31, 2021 USD ($)	Mar. 31, 2019	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Debt Instrument [Line Items]
Weighted-average interest rate				2.80%	3.40%	3.60%
Interest rate of debt instrument						2.80%
Supplementary leverage ratio			3.50
Interest coverage ratio			250.00%
Borrowings outstanding under Credit Facility						$ 560,000,000	$ 0
Outstanding borrowings							745,700,000
Letter of Credit Facility				$ 40,000,000.0
Outstanding letters of credit , amount				4,300,000			$ 4,300,000
Debt instrument, principal amount				$ 1,015,000,000		$ 1,575,000,000
Minimum [Member] \| Maturity Period 2021 [Member]
Debt Instrument [Line Items]
Unused line of credit commitment fee based on leverage ratio			0.15%
Maximum [Member] \| Maturity Period 2021 [Member]
Debt Instrument [Line Items]
Unused line of credit commitment fee based on leverage ratio			0.30%
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]
Debt Instrument [Line Items]
Variable margin			1.00%
NYFRB [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Variable margin			1.25%
NYFRB [Member] \| Minimum [Member] \| Maturity Period 2022 [Member]
Debt Instrument [Line Items]
Variable margin			0.25%
NYFRB [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Variable margin			2.00%
NYFRB [Member] \| Maximum [Member] \| Maturity Period 2022 [Member]
Debt Instrument [Line Items]
Variable margin			1.00%
Term Loan [Member]
Debt Instrument [Line Items]
Weighted-average interest rate				2.50%		2.80%
Interest rate of debt instrument				1.40%		2.80%
Debt instrument, principal amount				$ 665,000,000		$ 665,000,000
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 25 to 100 basis points), or (ii) the Adjusted LIBO Rate (as defined in the Term Loan Agreement), plus an agreed spread (ranging from 125 to 200 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, 2023
Term Loan Agreement [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Variable margin	0.25%
Term Loan Agreement [Member] \| London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Variable margin	1.00%
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
Debt Instrument [Line Items]
Line of Credit Facility, Fair Value of Amount Outstanding				$ 0
Credit Facility, principal balance						750,000,000.0
Credit Facility, termination date					Aug. 02, 2023
Credit facility, interest rate description				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), which is established quarterly based on the Company's then Leverage Ratio; 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 New York Federal Reserve Bank (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), which is established quarterly based on the Company's then Leverage Ratio.
Revolving Credit Facility \| Swingline Loan [Member]
Debt Instrument [Line Items]
Credit Facility, principal balance						$ 25,000,000.0
Line of Credit [Member] \| NYFRB [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 Maturities of Long-Term Debt (Detail) $ in Thousands	Mar. 31, 2021 USD ($)
Debt Disclosure [Abstract]
2024	$ 665,000
Thereafter	350,000
Total	$ 1,015,000

Schedule of Senior Unsecured Notes Redemption Prices (Detail) - 4.500% Senior Unsecured Notes Due 2026 [Member]	12 Months Ended
	Mar. 31, 2021
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%

Fair Value of Senior Notes (Detail) $ in Thousands	Mar. 31, 2021 USD ($)
4.500% Senior Unsecured Notes Due 2026 [Member]
Fair Value Of Financial Instruments [Line Items]
Fair Value of long term debt	$ 361,675

Fair Value of Senior Notes (Parenthetical) (Detail) - 4.500% Senior Unsecured Notes Due 2026 [Member]	12 Months Ended
	Mar. 31, 2021	Aug. 02, 2016
Fair Value Of Financial Instruments [Line Items]
Debt instrument, interest rate	4.50%	4.50%
Debt instrument, maturity year	2026

Business Segments - Additional Information (Detail)	12 Months Ended
Business Segments - Additional Information (Detail)	Mar. 31, 2021 Location Facility Terminal Plant Sector Segment
Segment Reporting [Abstract]
Number of sectors \| Sector	2
Number of reportable business segments \| Segment	4
Cement plant locations \| Location	8
Slag grinding facility \| Facility	1
Cement distribution terminals \| Terminal	29
Gypsum wallboard plants	5
Readymix concrete batch plants	26
Aggregates processing plants	3
Proportionate consolidation of share of joint venture revenues and operating earnings	50.00%

Financial Information Related to Operations by Segment (Detail) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Sep. 30, 2019 USD ($)	Jun. 30, 2019 USD ($)	Mar. 31, 2021 USD ($) kT	Mar. 31, 2020 USD ($) kT	Mar. 31, 2019 USD ($) kT
Segment Reporting Information [Line Items]
Revenue	$ 343,302	$ 404,667	$ 447,684	$ 426,989	$ 305,195	$ 342,904	$ 400,569	$ 355,365	$ 1,622,642	$ 1,404,033	$ 1,310,254
Less: Joint Venture Revenue									(105,191)	(113,536)	(104,493)
Operating Earnings									445,796	385,251	386,667
Other										(3,230)	(7,161)
Corporate General and Administrative Expense									(49,511)	(65,410)	(37,371)
Gain on Sale of Businesses									51,973
Impairment Losses										(25,131)	(37,179)
Litigation Settlements and Losses											(1,800)
Other Non-Operating Income (Loss)									20,274	(594)	1,835
Earnings Before Interest and Income Taxes									468,532	294,116	312,152
Interest Expense, net									(44,420)	(38,421)	(28,374)
Earnings Before Income Taxes	79,442	$ 105,072	$ 109,671	$ 129,927	43,607	$ 56,157	$ 98,367	$ 57,564	424,112	255,695	283,778
Capital Expenditures									53,933	131,973	116,587
Depreciation, Depletion, and Amortization									129,087	113,518	122,535
Capital Expenditures										146	52,286
Depreciation and Amortization									221	11,310	31,328
Identifiable Assets	2,838,681				2,961,020				2,838,681	2,961,020	2,169,163
Assets of Discontinued Operations					13,831					13,831	222,890
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue									1,815,901	1,602,885	1,497,300
Operating Earnings									233,957	181,330	164,782
Depreciation, Depletion, and Amortization									128,866	102,208	91,207
Operating Segments [Member] \| Wholly-Owned [Member]
Segment Reporting Information [Line Items]
Operating Earnings									196,516	138,745	126,217
Operating Segments [Member] \| Joint Venture [Member]
Segment Reporting Information [Line Items]
Operating Earnings									37,441	42,585	38,565
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue									(88,068)	(85,316)	(82,553)
Revenue									(88,068)	(85,316)	(82,553)
Cement [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue									$ 944,556	$ 752,002	$ 656,759
Cement Sales Volume \| kT									7,466	5,931	5,340
Operating Earnings									$ 233,957	$ 181,330	$ 164,782
Capital Expenditures									26,708	44,776	76,504
Depreciation, Depletion, and Amortization									77,524	59,081	52,802
Identifiable Assets	1,898,930				1,980,306				$ 1,898,930	$ 1,980,306	$ 1,289,468
Cement [Member] \| Operating Segments [Member] \| Wholly-Owned [Member]
Segment Reporting Information [Line Items]
Cement Sales Volume \| kT									6,576	4,975	4,441
Cement [Member] \| Operating Segments [Member] \| Joint Venture [Member]
Segment Reporting Information [Line Items]
Cement Sales Volume \| kT									890	956	899
Cement [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue									$ (20,862)	$ (21,499)	$ (14,408)
Concrete and Aggregates [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue									168,829	182,775	140,173
Operating Earnings									19,054	17,558	12,866
Capital Expenditures									3,114	11,898	6,649
Depreciation, Depletion, and Amortization									10,807	11,142	8,176
Identifiable Assets	88,410				136,041				88,410	136,041	95,084
Concrete and Aggregates [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue									(106)	(1,502)	(1,422)
Gypsum Wallboard [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue									539,009	508,145	532,712
Operating Earnings									167,336	154,614	180,831
Capital Expenditures									12,889	12,771	10,724
Depreciation, Depletion, and Amortization									21,646	20,320	20,020
Identifiable Assets	366,352				375,946				366,352	375,946	372,206
Paperboard [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue									163,507	159,963	167,656
Operating Earnings									25,449	34,979	35,349
Capital Expenditures									11,222	62,528	16,603
Depreciation, Depletion, and Amortization									13,913	8,945	8,541
Identifiable Assets	186,156				183,288				186,156	183,288	138,614
Paperboard [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue									(67,100)	(62,315)	(66,723)
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Depreciation, Depletion, and Amortization									4,976	2,720	1,668
Identifiable Assets	$ 298,833				$ 271,608				$ 298,833	$ 271,608	50,901
Corporate and Other [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Capital Expenditures											$ 6,107

Segment Breakdown of Goodwill (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Segment Reporting Information [Line Items]
Goodwill	$ 329,137	$ 129,127	$ 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

Schedule of Components of Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Current Provision (Benefit) - Federal	$ 67,913	$ (91,304)	$ 53,570
Current Provision (Benefit) - State	9,587	3,004	9,414
Current Provision (Benefit) - Total	77,500	(88,300)	62,984
Deferred Provision (Benefit) - Federal	7,207	108,467	(726)
Deferred Provision (Benefit) - State	5,239	4,337	(1,986)
Deferred Provision (Benefit) - Total	12,446	112,804	(2,712)
Provision for Income Taxes	$ 89,946	$ 24,504	$ 60,272

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Schedule of Effective Tax Rates Vary from Federal Statutory Rates (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Earnings Before Income Taxes	$ 79,442	$ 105,072	$ 109,671	$ 129,927	$ 43,607	$ 56,157	$ 98,367	$ 57,564	$ 424,112	$ 255,695	$ 283,778
Income Taxes at Statutory Rate									89,063	53,998	59,690
Increases (Decreases) in Tax Resulting from - State Income Taxes, net									11,713	3,579	5,868
Increases (Decreases) in Tax Resulting from - Statutory Depletion in Excess of Cost									(5,263)	(3,078)	(3,834)
Increases (Decreases) in Tax Resulting from - Excess Tax Benefit from Stock Compensation									(3,229)	307	(651)
Increases (Decreases) in Tax Resulting from - Meals and Entertainment Disallowance									220	537	610
Increases (Decreases) in Tax Resulting from - Limitation on Officers' Compensation									1,503	1,018	1,434
Increase (Decreases in Tax Resulting from -Impact of CARES Act of 2020										(35,936)
Increases (Decreases) in Tax Resulting from - Credits									(400)	(2,150)	(940)
Increases (Decreases) in Tax Resulting from - Valuation Allowance									300	2,212	(2,100)
Increases (Decreases) in Tax Resulting from - Change in Reserves									(2,916)	4,200
Increases (Decreases) in Tax Resulting from - Other									(1,045)	(183)	195
Provision for Income Taxes									$ 89,946	$ 24,504	$ 60,272
Effective Tax Rate									21.00%	10.00%	21.00%

Schedule of Components of Deferred Income Taxes (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Items Giving Rise to Deferred Tax Liabilities - Excess Tax Depreciation and Amortization	$ (220,269)	$ (199,096)
Items Giving Rise to Deferred Tax Liabilities - State Income Taxes, net	(21,923)	(12,225)
Items Giving Rise to Deferred Tax Liabilities - Depletable Assets	(3,540)
Items Giving Rise to Deferred Tax Liabilities - Right of Use Assets	(6,271)	(5,441)
Items Giving Rise to Deferred Tax Liabilities - Other	(6,332)	(5,764)
Items Giving Rise to Deferred Tax Liabilities - Total Deferred Tax Liabilities	(258,335)	(222,526)
Items Giving Rise to Deferred Tax Assets - Change in Accruals	12,046	9,373
Items Giving Rise to Deferred Tax Assets - Depletable Assets		12,632
Items Giving Rise to Deferred Tax Assets - Inventory	1,243	7,217
Items Giving Rise to Deferred Tax Assets - Bad Debts	1,812	2,642
Items Giving Rise to Deferred Tax Assets - Long-term Incentive Compensation Plan	3,396	5,590
Items Giving Rise to Deferred Tax Assets - Credits and Other Carryforwards	17,338	19,861
Items Giving Rise to Deferred Tax Assets - Lease Liability	9,369	11,384
Items Giving Rise to Deferred Tax Assets - Pension	906	937
Items Giving Rise to Deferred Tax Assets - Subtotal	46,110	69,636
Items Giving Rise to Deferred Tax Assets - Valuation Allowance	(13,761)	(13,777)
Items Giving Rise to Deferred Tax Assets - Total Deferred Tax Assets	$ 32,349	$ 55,859

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Income Tax [Line Items]
Increase related to prior tax positions		$ 4.2
Accrued interest on uncertain tax position	$ 0.0	0.0	$ 0.0
Accrued penalties on uncertain tax position	0.0	0.0	$ 0.0
Income tax benefit carryback under CARES Act		$ 35.9
Net operating losses carryback term due to CARES Act		5 years
State Income Tax [Member]
Income Tax [Line Items]
Net operating loss carryforwards	3.7	$ 5.4
State Income Tax [Member] \| Research and Development (R&D) [Member]
Income Tax [Line Items]
Income tax credit	$ 1.1	$ 2.2
Tax credit carryforward term	20 years

Reconciliation of Consolidated Liability for Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Balance at Beginning of Year	$ 4,200	$ 0
Increase Related to Current Tax Positions	1,284	4,200
Decrease Related to Current Tax Positions	(4,200)
Balance at End of Year	$ 1,284	$ 4,200

Commitments and Contingencies - Additional Information (Detail) - USD ($)	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Letters of credit outstanding, amount	$ 4,300,000	$ 4,300,000
Contingently liable for performance, current	24,300,000
Outstanding guarantees	$ 0
Percentage of expected natural gas usage	30.00%

Stock Option Plans - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended		12 Months Ended
	Aug. 31, 2020	May 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019	Aug. 07, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant			3,449,686			3,000,000
Stock option expense			$ 4.9	$ 4.5	$ 3.8
Aggregate intrinsic value for outstanding options			35.8
Aggregate intrinsic value for exercisable options			18.8
Total intrinsic value of options exercised			26.4	2.2	2.1
Restricted stock or unit expense			$ 10.4	$ 15.3	$ 11.3
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
Percentage of average return on invested capital			20.00%
Reduced percentage of shares earned in stock options plan			66.70%
Shares earned			96,476
Stock based compensation plan, description			The performance criterion for the Fiscal 2021 Employee Performance Stock Option Grant was 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 would be earned if the return on equity was 20.0% or greater, and the percentage of shares earned are reduced proportionately to approximately 66.7% if the return on equity was 10.0%. If the Company does not achieve a return on equity of at least 10.0%, all stock options granted would have been forfeited. During fiscal 2021, our adjusted return on equity was approximately 20.0%; therefore, all 96,476 options were earned.
Share-based compensation vesting period		4 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			$ 7.0
Weighted-average period of recognition of unrecognized compensation cost			2 years 4 months 24 days
Stock Options [Member] \| Long Term Compensation Plan [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation award expiration term		10 years
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
Percentage of average return on invested capital			20.00%
Shares earned			82,722
Stock based compensation plan, description			The performance criterion for the Fiscal 2020 Employee Restricted Stock Performance Award is based upon the achievement of certain levels of return on equity (as defined in the agreement), ranging from 10.0% to 20.0%, for the fiscal year ended March 31, 2021. All restricted shares would be earned if the return on equity was 20.0% or greater, and the percentage of shares earned will be reduced proportionately to approximately 66.7% if the return on equity was 10.0%. If the Company did not achieve a return on equity of at least 10.0%, all awards would have been 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, 2022
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, 2024
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
Time Vesting Restricted Stock [Member] \| Board of Director [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation vesting period		6 months
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant	26,064		267,000
Share-based compensation vesting period	6 months
Weighted-average period of recognition of unrecognized compensation cost			2 years 4 months 24 days
Unrecognized compensation cost			$ 12.6
Restricted Stock And Restricted Stock Unit [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant			1,085,034

Weighted-Average Assumptions Used to Value Option Awards (Detail) - Long Term Compensation Plan [Member] - Stock Options [Member]	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend Yield	0.00%	1.30%
Expected Volatility	37.90%	31.40%
Risk-Free Interest Rate	0.44%	2.31%
Expected Life	6 years	6 years

Stock Option Activity (Detail) - $ / shares	12 Months Ended
Stock Option Activity (Detail) - $ / shares	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Number of Shares, Outstanding Options at Beginning of Year	1,160,091	1,042,925	958,136
Number of Shares, Granted	187,121	187,375	125,734
Number of Shares, Exercised	(623,617)	(62,326)	(38,748)
Number of Shares, Cancelled	(15,094)	(7,883)	(2,197)
Number of Shares, Outstanding Options at End of Year	708,501	1,160,091	1,042,925
Number of Shares, Options Exercisable at End of Year	416,817	868,081	761,564
Weighted-Average Exercise Price, Outstanding Options at Beginning of Year	$ 80.36	$ 76.88	$ 72.52
Weighted-Average Exercise Price, Granted	61.92	91.58	103.53
Weighted-Average Exercise Price, Exercised	70.57	88.28	54.27
Weighted-Average Exercise Price, Cancelled	92.51	102.69	100.88
Weighted-Average Exercise Price, Outstanding Options at End of Year	83.85	80.36	76.88
Weighted-Average Fair Value of Options Granted during the Year	$ 22.68	$ 27.35	$ 33.11

Stock Options Outstanding (Detail)	12 Months Ended
Stock Options Outstanding (Detail)	Mar. 31, 2021 $ / shares shares
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Options Outstanding, Number of Shares Outstanding \| shares	708,501
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	6 years 11 months 26 days
Options Outstanding, Weighted-Average Exercise Price	$ 83.85
Options Exercisable , Number of Shares Outstanding \| shares	416,817
Options Exercisable, Weighted-Average Exercise Price	$ 89.31
$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	14,373
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	1 year 2 months 12 days
Options Outstanding, Weighted-Average Exercise Price	$ 34.37
Options Exercisable , Number of Shares Outstanding \| shares	14,373
Options Exercisable, Weighted-Average Exercise Price	$ 34.37
$59.32 - $81.56 [Member]
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Range	59.32
Range of Exercise Prices, Upper Range	$ 81.56
Options Outstanding, Number of Shares Outstanding \| shares	260,670
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	7 years 8 months 19 days
Options Outstanding, Weighted-Average Exercise Price	$ 65.46
Options Exercisable , Number of Shares Outstanding \| shares	96,420
Options Exercisable, Weighted-Average Exercise Price	$ 73.32
$87.34 - $106.24 [Member]
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Range	87.34
Range of Exercise Prices, Upper Range	$ 106.24
Options Outstanding, Number of Shares Outstanding \| shares	433,458
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	6 years 8 months 26 days
Options Outstanding, Weighted-Average Exercise Price	$ 96.55
Options Exercisable , Number of Shares Outstanding \| shares	306,024
Options Exercisable, Weighted-Average Exercise Price	$ 96.93

Summary of Activity for Nonvested Restricted Shares (Detail) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Nonvested at Beginning of Year	233,120	300,115	328,059
Number of Shares, Granted	179,377	118,292	121,836
Number of Shares, Vested	(136,280)	(169,347)	(147,790)
Number of Shares, Cancelled	(9,127)	(15,940)	(1,990)
Number of Shares, Nonvested at End of Year	267,090	233,120	300,115
Weighted Average Grant Date Fair Value, Nonvested at Beginning of Year	$ 75.35	$ 78.94	$ 72.52
Weighted Average Grant Date Fair Value, Granted	63.83	90.08	105.73
Weighted Average Grant Date Fair Value, Vested	78.89	92.98	75.94
Weighted Average Grant Date Fair Value, Cancelled	71.46	58.64	100.88
Weighted Average Grant Date Fair Value, Nonvested at End of Year	$ 62.56	$ 75.35	$ 78.94

Net Interest Expense, Net (Detail) - USD ($) $ in Thousands	12 Months Ended
Net Interest Expense, Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Interest Income (Expense), Net [Abstract]
Interest Income	$ (66)	$ (34)	$ (123)
Interest Expense	40,624	36,956	27,329
Other Expenses	3,862	1,499	1,168
Interest Expense, net	$ 44,420	$ 38,421	$ 28,374

Schedule of Reconciliation of Obligations and Fair Values of Plan Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Benefit Obligation at April 1,	$ 36,701	$ 33,730
Service Cost - Benefits Earned During the Period		339	$ 399
Interest Cost on Projected Benefit Obligation	1,216	1,351	1,347
Actuarial (Gain) Loss	1,714	2,464
Benefits Paid	(1,251)	(1,183)
Sale of Business	(2,536)
Benefit Obligation at March 31,	35,844	36,701	33,730
Fair Value of Plan Assets at April 1,	39,009	36,541
Actual Return on Plan Assets	2,939	3,651
Benefits Paid	(1,251)	(1,183)
Sale of Business	(2,790)
Fair Value of Plan Assets at March 31,	37,907	39,009	$ 36,541
Funded Status at March 31,	2,063	2,308
Other Assets	2,063	2,308
Accumulated Other Comprehensive Losses - Net Actuarial Loss	4,524	4,709
Accumulated Other Comprehensive Losses	4,524	4,709
Tax impact	(1,086)	(1,128)
Accumulated Other Comprehensive Losses, net of tax	$ 3,438	$ 3,581

Summary of Projected Benefit Obligation, Accumulated Benefit Obligation and Fair Value of Plan Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Projected Benefit Obligation	$ 35,844	$ 36,701	$ 33,730
Accumulated Benefit Obligation	35,844	36,701
Fair Value of Plan Assets	$ 37,907	$ 39,009	$ 36,541

- Definition

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Components of Net Periodic Cost (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Service Cost - Benefits Earned During the Period		$ 339	$ 399
Interest Cost of Projected Benefit Obligation	$ 1,216	1,351	1,347
Expected Return on Plan Assets	(1,419)	(1,702)	(1,853)
Recognized Net Actuarial Loss	133	153	230
Amortization of Prior-Service Cost		19	61
Net Periodic Pension Cost	$ (70)	$ 160	$ 184

Schedule of Expected Benefit Payments (Detail) $ in Thousands	Mar. 31, 2021 USD ($)
Compensation And Retirement Disclosure [Abstract]
2022	$ 1,616
2023	1,651
2024	1,675
2025	1,774
2026	1,836
2027-2031	$ 9,621

Schedule of Assumptions Used in Net Periodic Benefit Cost and Benefit Obligations (Detail)	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Net Periodic Benefit Costs - Discount Rate	3.64%	4.09%	4.12%
Net Periodic Benefit Costs - Expected Return on Plan Assets	4.00%	4.75%	5.50%
Net Periodic Benefit Costs - Rate of Compensation Increase		3.50%	3.50%
Benefit Obligations - Discount Rate	3.33%	3.64%
Benefit Obligations - Rate of Compensation Increase		3.50%

Schedule of Pension Plans Weighted-Average Asset Allocation and Range of Target Allocation (Detail)	Mar. 31, 2021	Mar. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets at March 31	100.00%	100.00%
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets at March 31	19.00%	9.00%
Equity Securities [Member] \| Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Range of Target Allocation	10.00%
Equity Securities [Member] \| Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Range of Target Allocation	20.00%
Debt Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets at March 31	79.00%	89.00%
Debt Securities [Member] \| Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Range of Target Allocation	60.00%
Debt Securities [Member] \| Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Range of Target Allocation	90.00%
Other [Member]
Defined Benefit Plan Disclosure [Line Items]
Percentage of Plan Assets at March 31	2.00%	2.00%
Other [Member] \| Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Range of Target Allocation	0.00%
Other [Member] \| Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Range of Target Allocation	20.00%

Pension and Profit Sharing Plans - Additional information (Detail) $ in Millions	12 Months Ended
	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($) Employee CompensationPlan	Mar. 31, 2020 USD ($)	Mar. 31, 2019 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Employees fully vesting in employer's own contributions made beginning in 2007, requirement years		4 years
Costs relating to employer discretionary contributions		$ 8.3	$ 8.2	$ 8.0
Current actuarial estimates contributions		$ 1.1	0.7	0.6
Number of employees covered under multi-employer pension plans \| Employee		50
Number of multi-employer plans \| CompensationPlan		3
Expenses related to multi employer plans		$ 1.8	$ 1.7	$ 1.5
Minimum [Member]
Defined Benefit Plan Disclosure [Line Items]
Collective bargaining agreement for employer covered under multi-employer plans, Expiration date, First		Feb. 29, 2024
Maximum [Member]
Defined Benefit Plan Disclosure [Line Items]
Collective bargaining agreement for employer covered under multi-employer plans, Expiration date, First		Mar. 31, 2025
Scenario Forecast [Member]
Defined Benefit Plan Disclosure [Line Items]
Current actuarial estimates contributions for fiscal year 2022	$ 0.0
Expenses related to multi employer plans	$ 1.9

Schedule of Fair Values of Defined Benefit Plans (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	$ 37,907	$ 39,009	$ 36,541
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	7,277	3,470
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	30,010	34,579
Real Estate Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	160	107
Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	$ 460	$ 853

- Definition

+ References + Details

Schedule of Fair Values of Defined Benefit Plans Determined Using Fair Value Hierarchy of Inputs (Detail) - USD ($) $ in Thousands	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	$ 37,907	$ 39,009	$ 36,541
Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	460	853
Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	37,447	38,156
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	7,277	3,470
Equity Securities [Member] \| Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	7,277	3,470
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	30,010	34,579
Fixed Income Securities [Member] \| Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	30,010	34,579
Real Estate Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	160	107
Real Estate Funds [Member] \| Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	160	107
Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	460	853
Cash Equivalents [Member] \| Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	$ 460	$ 853

- Definition

+ References + Details

Quarterly Results (unaudited) (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Revenue	$ 343,302	$ 404,667	$ 447,684	$ 426,989	$ 305,195	$ 342,904	$ 400,569	$ 355,365	$ 1,622,642	$ 1,404,033	$ 1,310,254
Gross Profit	69,830	113,379	122,849	102,297	62,349	93,203	109,020	78,094	408,355	342,666	348,102
Earnings Before Income Taxes	79,442	105,072	109,671	129,927	43,607	56,157	98,367	57,564	424,112	255,695	283,778
Net Earnings from Continuing Operations	66,011	81,193	89,871	97,091	69,320	43,474	75,064	43,333
Net Earnings	$ 66,011	$ 81,193	$ 96,034	$ 96,206	$ 72,429	$ (114,632)	$ 71,793	$ 41,304	$ 339,444	$ 70,894	$ 68,860
Continuing Operations	$ 1.56	$ 1.94	$ 2.16	$ 2.34	$ 1.67	$ 1.04	$ 1.80	$ 0.98	$ 7.99	$ 5.47	$ 4.76
Diluted Earnings Per Share	$ 1.56	$ 1.94	$ 2.31	$ 2.31	$ 1.74	$ (2.76)	$ 1.72	$ 0.94	$ 8.12	$ 1.68	$ 1.47

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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Amount after tax of income (loss) from continuing operations attributable to the parent.

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The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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

Quarterly Results (unaudited) - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2021	Mar. 31, 2020	Mar. 31, 2019
Effect Of Fourth Quarter Events [Line Items]
Pre-tax impairment loss					$ 224,267	$ 220,265
Corporate, general and administrative expense				$ 49,511	65,410	37,371
Cost of good sold				1,214,287	1,061,367	962,152
Income tax expense (benefit)				$ 89,946	24,504	60,272
Cares Act [Member]
Effect Of Fourth Quarter Events [Line Items]
Income tax expense (benefit)		$ 31,700
Business Development and Separation Costs [Member]
Effect Of Fourth Quarter Events [Line Items]
Corporate, general and administrative expense		6,500
Outage And Purchase Accounting Costs [Member]
Effect Of Fourth Quarter Events [Line Items]
Cost of good sold		6,800
Plant Expansion Costs [Member]
Effect Of Fourth Quarter Events [Line Items]
Cost of good sold		$ 3,000
Cement [Member]
Effect Of Fourth Quarter Events [Line Items]
Additional cement costs	$ 6,000
Light Materials [Member]
Effect Of Fourth Quarter Events [Line Items]
Additional cement costs	$ 6,000
Oil and Gas Proppants [Member]
Effect Of Fourth Quarter Events [Line Items]
Pre-tax impairment loss			$ 25,100		$ 224,300	$ 220,300