0000950170-23-023282 | 10-K | XBRL Viewer

LEASES (Tables)

12 Months Ended

Mar. 31, 2023

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,
	2023		2022		2021
	(dollars in thousands)
Operating Lease Cost	$	7,339	$	6,543	$	6,757
Short-term Lease Cost		593		1,261		2,562
Total Lease Cost	$	7,932	$	7,804	$	9,319

Schedule of Balance Sheet Information Related to Leases

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


	March 31,
	2023		2022
	(dollars in thousands)
Operating Leases:
Operating Lease Right-of-Use Assets	$	20,759	$	23,856

Current Operating Lease Liabilities	$	6,009	$	7,118
Noncurrent Operating Lease Liabilities		24,940		29,212
Total Operating Lease Liabilities	$	30,949	$	36,330

Schedule of Future Payments for Operating Leases

Future payments for operating leases are as follows:


	Amount
Fiscal Year	(dollars in thousands)
2024	$	6,875
2025		6,427
2026		4,662
2027		3,540
2028		2,705
Thereafter		14,229
Total Lease Payments	$	38,438
Less: Imputed Interest		(7,489	)
Present Value of Lease Liabilities	$	30,949

Weighted-Average Remaining Lease Term (in years)		10.2
Weighted-Average Discount Rate		3.80	%

Business Segments - Summarized Financial Information for Joint Venture Unconsolidated (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Related Party Transaction [Line Items]
Revenue	$ 2,148,069	$ 1,861,522	$ 1,622,642
Gross Margin	639,266	519,614	408,355
Earnings Before Income Taxes	588,593	475,094	$ 424,112
Current Assets	521,503	442,727
Current Liabilities	212,889	207,551
Corporate Joint Venture [Member] \| Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member]
Related Party Transaction [Line Items]
Revenue	227,565	209,937
Gross Margin	77,673	69,913
Earnings Before Income Taxes	71,491	65,541
Current Assets	88,562	73,462
Noncurrent Assets	124,503	112,439
Current Liabilities	$ 29,434	$ 17,161

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- 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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+ Details

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Current Assets
Cash and Cash Equivalents	$ 15,242	$ 19,416
Accounts and Notes Receivable, net	195,052	176,276
Inventories	291,882	236,661
Income Tax Receivable	16,267	7,202
Prepaid and Other Assets	3,060	3,172
Total Current Assets	521,503	442,727
Property, Plant, and Equipment, net	1,662,061	1,616,539
Notes Receivable	7,382	8,485
Investment in Joint Venture	89,111	80,637
Operating Lease Right-of-Use Assets	20,759	23,856
Goodwill and Intangible Assets, net	466,043	387,898
Other Assets	14,143	19,510
Total Assets	2,781,002	2,579,652
Current Liabilities
Accounts Payable	110,408	113,679
Accrued Liabilities	86,472	86,754
Operating Lease Liabilities	6,009	7,118
Current Portion of Long-term Debt	10,000	0
Total Current Liabilities	212,889	207,551
Long-term Debt	1,079,032	938,265
Noncurrent Operating Lease Liabilities	24,940	29,212
Other Long-term Liabilities	41,603	38,699
Deferred Income Taxes	236,844	232,369
Total Liabilities	1,595,308	1,446,096
Stockholders' Equity
Preferred Stock, Par Value $0.01; Authorized 5,000,000 Shares; None Issued	0	0
Common Stock, Par Value $0.01; Authorized 100,000,000 Shares; Issued and Outstanding 35,768,376 and 38,710,929 Shares, respectively	358	387
Capital in Excess of Par Value	0	0
Accumulated Other Comprehensive Losses	(3,547)	(3,175)
Retained Earnings	1,188,883	1,136,344
Total Stockholders’ Equity	1,185,694	1,133,556
Liabilities and Stockholders' Equity, Total	$ 2,781,002	$ 2,579,652

Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands			12 Months Ended
	Sep. 16, 2022	Apr. 22, 2022	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Business Acquisition [Line Items]
Purchase price of separate operating segment			$ 158,451	$ 0	$ 0
Depreciation			129,600	$ 122,400	$ 120,700
ConAgg Acquisition [Member]
Business Acquisition [Line Items]
Purchase price of separate operating segment		$ 120,200
Depreciation			8,200
Amortization			$ 2,200
ConAgg Acquisition [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Property, plant and equipment, estimated useful life			15 years
Acquired intangible assets estimated useful life			15 years
ConAgg Acquisition [Member] \| Minimum [Member]
Business Acquisition [Line Items]
Property, plant and equipment, estimated useful life			5 years
Acquired intangible assets estimated useful life			2 years
Terminal Acquisition [Member]
Business Acquisition [Line Items]
Purchase price of separate operating segment	$ 39,500

PENSION AND PROFIT SHARING PLANS

12 Months Ended

Mar. 31, 2023

Retirement Benefits [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 that 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 Benefit Obligations and Fair Values of Plan Assets for all defined benefit plans for the years ended March 31, 2023 and 2022, as well as a statement of the funded status for the same periods:


	For the Years Ended March 31,
	2023			2022
	(dollars in thousands)
Reconciliation of Benefit Obligations
Benefit Obligation at April 1,	$	33,909		$	35,844
Interest Cost on Projected Benefit Obligation		1,240			1,167
Actuarial Gain		(4,509	)		(1,776	)
Benefits Paid		(1,451	)		(1,326	)
Benefit Obligation at March 31,	$	29,189		$	33,909
Reconciliation of Fair Value of Plan Assets
Fair Value of Plan Assets at April 1,	$	36,313		$	37,907
Actual Return on Plan Assets		(3,756	)		(268	)
Benefits Paid		(1,451	)		(1,326	)
Fair Value of Plan Assets at March 31,		31,106			36,313
Funded Status
Funded Status at March 31,	$	1,917		$	2,404
Amounts Recognized in the Balance Sheet Include:
Other Assets	$	1,917		$	2,404
Accumulated Other Comprehensive Losses:
Net Actuarial Loss		4,662			4,172
Accumulated Other Comprehensive Losses	$	4,662		$	4,172
Tax Impact		(1,115	)		(997	)
Accumulated Other Comprehensive Losses, net of tax	$	3,547		$	3,175

Net periodic pension cost for the fiscal years ended March 31, 2023, 2022, and 2021, included the following components:


	For the Years Ended March 31,
	2023			2022			2021
	(dollars in thousands)
Interest Cost of Projected Benefit Obligation		1,240			1,167			1,216
Expected Return on Plan Assets		(1,366	)		(1,299	)		(1,419	)
Recognized Net Actuarial Loss		123			143			133
Net Periodic Pension Cost	$	(3	)	$	11		$	(70	)

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
2024	$	1,753
2025	$	1,842
2026	$	1,890
2027	$	1,964
2028	$	1,994
2029-2033	$	9,834

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,
	2023			2022			2021
Net Periodic Benefit Costs
Discount Rate		3.75	%		3.33	%		3.64	%
Expected Return on Plan Assets		3.85	%		3.50	%		4.00	%
Rate of Compensation Increase	n/a			n/a			n/a


	March 31,
		2023			2022
Benefit Obligations
Discount Rate		4.99	%		3.75	%
Rate of Compensation Increase	n/a			n/a

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 that 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 were 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, 2023 and 2022, and the range of target allocation are as follows:


		Percentage of Plan Assets at March 31,
	Range of Target Allocation	2023			2022
Asset Category
Equity Securities	10 – 20%		9	%		9	%
Debt Securities	60 – 90%		89	%		90	%
Other	0 – 20%		2	%		1	%
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 2024.

The fair values of our defined benefit plans’ consolidated assets by category as of March 31, 2023 and 2022 were as follows:


	March 31,
	2023		2022
	(dollars in thousands)
Equity Securities	$	2,878	$	3,433
Fixed Income Securities		27,811		32,583
Real Estate Funds		—		115
Cash Equivalents		417		182
Total	$	31,106	$	36,313

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, 2023 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	$	—	$	2,878	$	—	$	2,878
Fixed Income Securities		—		27,811		—		27,811
Cash Equivalents		417		—		—		417
	$	417	$	30,689	$	—	$	31,106

The fair values by category of inputs as of March 31, 2022 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	$	—	$	3,433	$	—	$	3,433
Fixed Income Securities		—		32,583		—		32,583
Real Estate Funds		—		115		—		115
Cash Equivalents		182		—		—		182
	$	182	$	36,131	$	—	$	36,313

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 $9.1 million, $8.5 million, and $8.3 million in fiscal years 2023, 2022, and 2021, respectively.

We also made matching contributions to the hourly profit sharing plan for certain of our entities totaling $1.4 million, $1.3 million, and $1.1 million for these employees during fiscal years 2023, 2022, and 2021, respectively.

Approximately 50 of our employees belong to two 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 $1.8 million during fiscal years 2023, 2022, and 2021, respectively. We anticipate the total expense in fiscal 2024 related to these plans will be approximately $2.0 million.

- Definition

The entire disclosure for retirement benefits.

+ References

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Net Interest Expense, Net (Detail) - USD ($) $ in Thousands	12 Months Ended
Net Interest Expense, Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Interest Income (Expense), Net [Abstract]
Interest Income	$ (421)	$ (39)	$ (66)
Interest Expense	33,706	21,637	40,624
Other Expenses	1,886	9,275	3,862
Interest Expense, net	$ 35,171	$ 30,873	$ 44,420

SIGNIFICANT ACCOUNTING POLICIES (Policies)

12 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

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.

Accounts and Notes Receivable

Accounts and Notes Receivable have been shown net of the allowance for doubtful accounts of $6.9 million and $6.7 million at March 31, 2023 and 2022, respectively. We perform ongoing credit evaluations of our customers’ financial condition and generally require no collateral from our customers. The allowance for noncollection 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 $0.3 million, $0.3 million, and $0.7million for the fiscal years ended March 31, 2023, 2022, and 2021, respectively. Write-offs of accounts receivable were approximately $0.1 million, $1.6 million, and $1.2 million for the fiscal years ended March 31, 2023, 2022, and 2021, respectively.

We had Notes Receivable totaling approximately $8.5 million at March 31, 2023, of which $1.1 million was classified as current. On April 28, 2023, we collected the entire $8.5 million balance owed under the Notes Receivable. From time to time, we lend funds to certain companies in the ordinary course of business. The notes are generally 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, credit history review, 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,
	2023		2022
	(dollars in thousands)
Raw Materials and Materials-in-Progress	$	96,880	$	81,308
Finished Cement		46,364		38,769
Aggregates		8,309		3,558
Gypsum Wallboard		4,244		3,452
Paperboard		8,651		7,462
Repair Parts and Supplies		112,885		91,593
Fuel and Coal		14,549		10,519
	$	291,882	$	236,661

Property, Plant and Equipment

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 $129.6 million, $122.4 million, and $120.7 million, for the fiscal years ended March 31, 2023, 2022, and 2021, 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

Maintenance and repair expenses are included in each segment’s costs and expenses. We incurred $173.4 million, $147.8 million, and $137.2 million of maintenance and repair expenses in the fiscal years ended March 31, 2023, 2022, and 2021, respectively, which is included in Cost of Goods Sold on the Consolidated Statement of Earnings.

We periodically evaluate whether current events or circumstances indicate that the carrying value of our depreciable assets may not be recoverable. See Impairment or Disposal of Long-lived and Intangible Assets in the following section 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 test, we may, at our discretion, perform an optional qualitative analysis, or we may choose to proceed directly to the Step 1 quantitative test. 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 Step 1 quantitative test 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 Step 1 quantitative test.

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 test 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 qualitative assessments on all of our reporting units in the fourth quarter of fiscal 2023 and 2022. As a result of these qualitative assessments, we determined it was not more likely than not that an impairment existed; therefore, we did not perform a Step 1 quantitative test in either fiscal 2023 or 2022. We performed a Step 1 quantitative impairment test on our all of our reporting units with Goodwill during the fourth quarter of fiscal 2021. We estimated the fair value of the reporting unit 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 quantitative impairment analysis, we concluded that the fair values of the reporting units substantially exceeded their carrying values, and therefore no impairment was recognized.

Goodwill and Intangible Assets

Goodwill and Intangible Assets at March 31, 2023 and 2022, consist of the following:


	March 31, 2023
	Amortization Period	Cost		Additions		Accumulated Amortization			Net
	(dollars in thousands)
Goodwill and Intangible Assets:
Customer Contracts and Relationships	15 years	$	108,610	$	32,584	$	(75,413	)	$	65,781
Permits	25-40 years		30,410		350		(12,519	)		18,241
Trade Name	15 years		1,500		400		(590	)		1,310
Goodwill			329,137		51,574		—			380,711
Total Goodwill and Intangible Assets		$	469,657	$	84,908	$	(88,522	)	$	466,043


	March 31, 2022
	Amortization Period	Cost		Additions		Accumulated Amortization			Net
	(dollars in thousands)
Goodwill and Intangible Assets:
Customer Contracts and Relationships	15 years	$	108,610	$	—	$	(69,866	)	$	38,744
Permits	25-40 years		30,410		—		(11,629	)		18,781
Trade Name	15 years		1,500		—		(264	)		1,236
Goodwill			329,137		—		—			329,137
Total Goodwill and Intangible Assets		$	469,657	$	—	$	(81,759	)	$	387,898

Amortization expense of intangibles was $6.8 million, $4.4 million, and $4.5 million for the fiscal years ended March 31, 2023, 2022, and 2021, respectively. Amortization expense is expected to be approximately $6.8 million in fiscal 2024, $6.6 million in fiscal 2025 and 2026, $6.4 million in fiscal 2027, and $6.3 million in fiscal 2028.

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 group of assets, are evaluated for impairment at the lowest level for which cash flows are largely independent of the cash flows of other assets. 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 2023.

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. See Footnote (J) for more information.

Stock Repurchases

Shares repurchased by the Company are considered retired and available for future issuance. When shares are repurchased, the Company first reduces Capital in Excess of Par Value, and if there is no balance in this account, the purchases are recorded as a reduction of Retained Earnings.

On May 17, 2022, the Board of Directors authorized the Company to repurchase an additional 7,500,000 shares. During fiscal years 2023 and 2022, we repurchased 3,075,788 and 3,982,657 shares, respectively, at average prices of $126.05 and $148.08, respectively. We did not repurchase any shares in fiscal 2021. At March 31, 2023, the remaining authorized shares for repurchase totaled 7,747,204 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 concrete, aggregates, and gypsum wallboard is originated by purchase orders from our customers, who are mainly third-party contractors and suppliers. Revenue from the sale of cement is sold point-of-sale to customers under sales orders. Revenue from our Recycled Paperboard segment is generated mostly through long-term supply agreements. These agreements do not have a stated maturity date, but may be terminated by either party with a two to three year notice period. 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 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 billed to the customer are

recorded as Revenue, while costs incurred for shipping and handling are recorded as expenses and included in Cost of Goods Sold.

Approximately $229.6 million, $199.1 million, and $177.5 million of freight for the fiscal years ended March 31, 2023, 2022, and 2021, respectively, were included in both Revenue and Cost of Goods Sold in our Consolidated Statement of Earnings.

Other Nonoperating 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, 2023, we have an Accumulated Other Comprehensive Loss of $3.5 million, which is net of income taxes of $1.0 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

Consolidated Cash Flows – Supplemental Disclosures

Supplemental cash flow information is as follows:


	For the Years Ended March 31,
		2023		2022		2021
	(dollars in thousands)
Cash Payments:
Interest	$	31,596	$	21,298	$	42,343
Income Taxes		131,512		86,407		32,870
Operating Cash Flows Used for Operating Leases		8,314		8,141		10,741

Noncash Financing Activities:
Right-of-Use Assets Obtained for Capitalized Operating Leases	$	1,711	$	2,598	$	272
Excise Tax on Share Repurchases		738		—		—

Selling, General and Administrative Expenses

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,
	2023		2022		2021
	(dollars in thousands)
Operating Units Selling, G&A	$	65,468	$	56,561	$	56,309
Corporate G&A		53,630		46,801		49,511
	$	119,098	$	103,362	$	105,820

Earnings Per Share

Earnings per Share


	For the Years Ended March 31,
	2023			2022			2021
Weighted-Average Shares of Common Stock Outstanding		36,798,354			40,547,048			41,543,067
Effect of Dilutive Shares:
Assumed Exercise of Outstanding Dilutive Options		418,659			539,309			570,325
Less Shares Repurchased from Proceeds of Assumed Exercised Options		(290,590	)		(343,917	)		(429,815	)
Restricted Stock Units		126,519			187,272			143,132
Weighted-Average Common Stock and Dilutive Securities Outstanding		37,052,942			40,929,712			41,826,709

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

There were 52,375; 6,053; and 569,431 stock options at an average exercise price of $127.06 per share, $139.80 per share, and $89.11 per share, respectively, that were excluded from the computation of diluted earnings per share for the fiscal years ended March 31, 2023, 2022, and 2021, 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

None.

PENDING ADOPTION

None.

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Fair Value of Senior Notes

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, 2023 is as follows:


	Fair Value
	(dollars in thousands)
2.500% Senior Unsecured Notes Due 2031	$	610,000

Business Segments - Financial Information Related to Operations by Segment (Detail) $ in Thousands	12 Months Ended
	Mar. 31, 2023 USD ($) kt	Mar. 31, 2022 USD ($) kt	Mar. 31, 2021 USD ($) kt
Segment Reporting Information [Line Items]
Revenue	$ 2,148,069	$ 1,861,522	$ 1,622,642
Less: Joint Venture Revenue	(113,518)	(103,899)	(105,191)
Operating Earnings	674,740	552,102	445,796
Corporate General and Administrative Expense	(53,630)	(46,801)	(49,511)
Loss on Early Retirement of Senior Notes	0	(8,407)	0
Gain on Sale of Businesses	0	0	51,973
Other Nonoperating Income (Loss)	2,654	9,073	20,274
Earnings Before Interest and Income Taxes	623,764	505,967	468,532
Interest Expense, net	(35,171)	(30,873)	(44,420)
Earnings from Continuing Operations Before Income Taxes	588,593	475,094	424,112
Capital Expenditures	110,143	74,121	53,933
Depreciation, Depletion, and Amortization	138,554	128,811	129,087
Capital Expenditures	110,143	74,121	53,933
Capital Expenditures	0	0	0
Depreciation and Amortization	0	0	221
Segment Assets	2,781,002	2,579,652	2,838,681
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	2,387,337	2,070,422	1,815,901
Depreciation, Depletion, and Amortization	138,554	128,811	128,866
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	125,750	105,001	88,068
Revenue	125,750	105,001	88,068
Cement [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	$ 1,074,070	$ 1,007,094	$ 944,556
Cement Sales Volume \| kt	7,133	7,534	7,466
Operating Earnings	$ 278,762	$ 259,556	$ 233,957
Capital Expenditures	39,049	31,535	26,708
Depreciation, Depletion, and Amortization	81,643	79,560	77,524
Capital Expenditures	39,049	31,535	26,708
Segment Assets	$ 1,905,227	$ 1,860,649	$ 1,898,930
Cement [Member] \| Operating Segments [Member] \| Wholly-Owned [Member]
Segment Reporting Information [Line Items]
Cement Sales Volume \| kt	6,399	6,711	6,576
Operating Earnings	$ 243,288	$ 227,068	$ 196,516
Cement [Member] \| Operating Segments [Member] \| Joint Venture [Member]
Segment Reporting Information [Line Items]
Cement Sales Volume \| kt	734	823	890
Operating Earnings	$ 35,474	$ 32,488	$ 37,441
Cement [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	32,915	22,915	20,862
Concrete and Aggregates [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	239,516	177,122	168,829
Operating Earnings	18,259	18,467	19,054
Capital Expenditures	35,503	5,239	3,114
Depreciation, Depletion, and Amortization	17,413	9,656	10,807
Capital Expenditures	35,503	5,239	3,114
Segment Assets	234,767	89,405	88,410
Concrete and Aggregates [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	0	0	106
Gypsum Wallboard [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	872,471	692,152	539,009
Operating Earnings	352,499	261,476	167,336
Capital Expenditures	31,063	32,405	12,889
Depreciation, Depletion, and Amortization	21,744	22,024	21,646
Capital Expenditures	31,063	32,405	12,889
Segment Assets	421,425	397,486	366,352
Paperboard [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenue	201,280	194,054	163,507
Operating Earnings	25,220	12,603	25,449
Capital Expenditures	2,898	2,579	11,222
Depreciation, Depletion, and Amortization	14,942	14,721	13,913
Capital Expenditures	2,898	2,579	11,222
Segment Assets	163,797	180,025	186,156
Paperboard [Member] \| Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue	92,835	82,086	67,100
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Depreciation, Depletion, and Amortization	2,812	2,850	4,976
Segment Assets	55,786	52,087	298,833
Corporate and Other [Member] \| Operating Segments [Member]
Segment Reporting Information [Line Items]
Capital Expenditures	1,630	2,363	0
Capital Expenditures	$ 1,630	$ 2,363	$ 0

Stock Option Activity (Detail) - $ / shares	12 Months Ended
Stock Option Activity (Detail) - $ / shares	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Share-Based Payment Arrangement [Abstract]
Number of Shares, Outstanding Options at Beginning of Year	456,849	708,501	1,160,091
Number of Shares, Granted	56,621	11,316	187,121
Number of Shares, Exercised	(73,343)	(247,578)	(623,617)
Number of Shares, Cancelled	(3,178)	(15,390)	(15,094)
Number of Shares, Outstanding Options at End of Year	436,949	456,849	708,501
Number of Shares, Options Exercisable at End of Year	339,043	314,624	416,817
Weighted-Average Exercise Price, Outstanding Options at Beginning of Year	$ 83.81	$ 83.85	$ 80.36
Weighted-Average Exercise Price, Granted	125.90	140.42	61.92
Weighted-Average Exercise Price, Exercised	80.19	86.97	70.57
Weighted-Average Exercise Price, Cancelled	109.15	76.63	92.51
Weighted-Average Exercise Price, Outstanding Options at End of Year	89.69	83.81	83.85
Weighted-Average Fair Value of Options Granted During the Year	$ 48.36	$ 49.18	$ 22.68

Pension and Profit Sharing Plans - Schedule of Pension Plans Weighted-Average Asset Allocation and Range of Target Allocation (Detail)	Mar. 31, 2023	Mar. 31, 2022
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	9.00%	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	89.00%	90.00%
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%	1.00%
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%

Reconciliation of Consolidated Liability for Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Balance at Beginning of Year	$ 1,284	$ 1,284	$ 4,200
Increase Related to Current Tax Positions	0	0	1,284
Decrease Related to Current Tax Positions	0	0	(4,200)
Payments	0
Balance at End of Year	$ 1,284	$ 1,284	$ 1,284

NET INTEREST EXPENSE (Tables)

12 Months Ended

Mar. 31, 2023

Banking and Thrift, Interest [Abstract]

Net Interest Expense, Net

The following components are included within Interest Expense, net:


	For the Years Ended March 31,
	2023			2022			2021
	(dollars in thousands)
Interest Income	$	(421	)	$	(39	)	$	(66	)
Interest Expense		33,706			21,637			40,624
Other Expenses		1,886			9,275			3,862
Interest Expense, net	$	35,171		$	30,873		$	44,420

STOCK OPTION PLANS (Tables)

12 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [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 2023 and 2022 are as follows:


	2023			2022
Dividend Yield		0.8	%		0.8	%
Expected Volatility		38.2	%		38.4	%
Risk-Free Interest Rate		2.90	%		1.00	%
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,
	2023					2022					2021
	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		456,849		$	83.81		708,501		$	83.85		1,160,091		$	80.36
Granted		56,621		$	125.90		11,316		$	140.42		187,121		$	61.92
Exercised		(73,343	)	$	80.19		(247,578	)	$	86.97		(623,617	)	$	70.57
Cancelled		(3,178	)	$	109.15		(15,390	)	$	76.63		(15,094	)	$	92.51
Outstanding Options at End of Year		436,949		$	89.69		456,849		$	83.81		708,501		$	83.85
Options Exercisable at End of Year		339,043					314,624					416,817
Weighted-Average Fair Value of Options Granted During the Year				$	48.36				$	49.18				$	22.68

Stock Options Outstanding

The following table summarizes information about stock options outstanding at March 31, 2023:


	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
$59.32 - $81.28		149,712		6.30	$	62.96		106,308	$	63.84
$87.37 - $93.03		138,656		5.80	$	91.56		137,664	$	91.57
$99.37 - $143.09		148,581		6.62	$	114.86		95,071	$	108.94
		436,949		6.25	$	89.69		339,043	$	87.74

Summary of Activity for Nonvested Restricted Shares

The following table summarizes the activity for nonvested restricted shares during the fiscal years ended March 31, 2023, 2022, and 2021:


	For the Years Ended March 31,
	2023					2022					2021
	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		258,779		$	85.34		267,090		$	62.56		233,120		$	75.35
Granted		111,230		$	126.23		113,414		$	139.91		179,377		$	63.83
Vested		(147,678	)	$	104.33		(116,507	)	$	87.47		(136,280	)	$	78.89
Cancelled		(3,247	)	$	124.82		(5,218	)	$	75.10		(9,127	)	$	71.46
Nonvested Restricted Stock at End of Year		219,084		$	96.54		258,779		$	85.34		267,090		$	62.56

DISCONTINUED OPERATIONS AND OTHER DISPOSITIONS - (Tables)

12 Months Ended

Mar. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

Summary of Disposal Groups, Including Discontinued Operations

The following is a summary of operating results included in Earnings from Discontinued Operations for the fiscal year ended March 31, 2021:


	(dollars in thousands)
Revenue	$	1,045
Cost of Goods Sold		3,415
Gross Profit		(2,370	)
Other Nonoperating Income		226
Gain on Sale of Discontinued Operations		9,230
Impairment Losses		—
Earnings from Discontinued Operations		7,086
Income Tax Expense		(1,808	)
Net Earnings from Discontinued Operations	$	5,278

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


	(dollars in thousands)
Depreciation and Amortization	$	221
Impairment Losses	$	—
Gain on Sale of Business	$	(9,230	)
Net Change in Inventory	$	—
Capital Expenditures	$	—

- 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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI https://asc.fasb.org/extlink&oid=109226691&loc=SL51724579-110230

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=109222650&loc=d3e1474-107760

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721677-107760

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI https://asc.fasb.org/extlink&oid=109222160&loc=SL51721533-107759

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721659-107760

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721665-107760

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721675-107760

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721683-107760

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=109222650&loc=d3e1361-107760

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721671-107760

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721673-107760

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI https://asc.fasb.org/extlink&oid=109222650&loc=SL51721663-107760

+ Details

Pension and Profit Sharing Plans - Schedule of Fair Values of Defined Benefit Plans (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	$ 31,106	$ 36,313	$ 37,907
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	2,878	3,433
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	27,811	32,583
Real Estate Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	0	115
Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	$ 417	$ 182

- 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

Acquisitions - Schedule of Revenue and Operating Earnings Related to Business Acquisition (Details) - Con Agg Acquisition [Member] $ in Thousands	11 Months Ended
	Mar. 31, 2023 USD ($)
Business Acquisition [Line Items]
Revenue	$ 44,546
Operating Earnings	$ 1,615

INDEBTEDNESS (Tables)

12 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Long-Term Debt

Long-term debt at March 31, 2023 consists of the following:


	As of March 31,
	2023			2022
	(dollars in thousands)
Revolving Credit Facility	$	157,000		$	200,000
2.500% Senior Unsecured Notes Due 2031		750,000			750,000
Term Loan		192,500			—
Total Debt		1,099,500			950,000
Less: Current Portion of Long-term Debt		(10,000	)		—
Less: Unamortized Discount and Debt Issuance Costs		(10,468	)		(11,735	)
Long-term Debt	$	1,079,032		$	938,265

Schedule of Maturities of Long-Term Debt

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


Fiscal Year	Amount
2024	$	10,000
2025		10,000
2026		10,000
2027		10,000
2028		309,500
Thereafter		750,000
Total	$	1,099,500

Schedule of Total Selling, General and Administrative Expenses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Accounting Policies [Abstract]
Operating Units Selling, G&A	$ 65,468	$ 56,561	$ 56,309
Corporate G&A	53,630	46,801	49,511
Total selling, general and administrative expenses	$ 119,098	$ 103,362	$ 105,820

Schedule of Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Inventory [Line Items]
Inventories	$ 291,882	$ 236,661
Raw Materials and Material-in-Progress [Member]
Inventory [Line Items]
Inventories	96,880	81,308
Finished Cement [Member]
Inventory [Line Items]
Inventories	46,364	38,769
Aggregates [Member]
Inventory [Line Items]
Inventories	8,309	3,558
Gypsum Wallboard [Member]
Inventory [Line Items]
Inventories	4,244	3,452
Paperboard [Member]
Inventory [Line Items]
Inventories	8,651	7,462
Repair Parts and Supplies [Member]
Inventory [Line Items]
Inventories	112,885	91,593
Fuel and Coal [Member]
Inventory [Line Items]
Inventories	$ 14,549	$ 10,519

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Mar. 31, 2023

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 that 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 that 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, 2023, we had contingent liabilities under these outstanding letters of credit of approximately $6.4 million.

We are currently contingently liable for performance under $26.9 million in performance bonds required by certain states and municipalities, and their related agencies. The bonds are principally for certain reclamation obligations and mining permits. We have indemnified the underwriting insurance company against any exposure under the performance bonds. In our past experience, no material claims have been made against these financial instruments.

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 years 2022 and 2023. The contracts are for approximately 40% of our anticipated natural gas usage.

Indebtedness - Additional Information (Detail) $ in Thousands					1 Months Ended	12 Months Ended
	May 05, 2022 USD ($)	Jul. 19, 2021 USD ($)	Jul. 02, 2021 USD ($)	Jul. 01, 2021 USD ($)	May 31, 2022 USD ($)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)
Debt Instrument [Line Items]
Weighted-average interest rate						3.70%	1.50%	2.80%
Interest rate of debt instrument						6.00%	1.70%
Repayment of Term Loan						$ (7,500)	$ (665,000)	$ 0
Interest coverage ratio			250.00%
Borrowings outstanding under Credit Facility						157,000	200,000
Outstanding borrowings						586,600
Outstanding letters of credit , amount						6,400
Debt instrument, principal amount						1,099,500	950,000
Maturity Period 2021 [Member]
Debt Instrument [Line Items]
Unused line of credit commitment fee based on leverage ratio			9.00%
Maximum [Member]
Debt Instrument [Line Items]
Unused line of credit commitment fee based on leverage ratio			22.50%
London Interbank Offered Rate (LIBOR) [Member] \| Minimum [Member] \| Maturity Period 2021 [Member]
Debt Instrument [Line Items]
Variable margin			100.00%
London Interbank Offered Rate (LIBOR) [Member] \| Maximum [Member] \| Maturity Period 2021 [Member]
Debt Instrument [Line Items]
Variable margin			162.50%
NYFRB [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Variable margin			0.00%
NYFRB [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Variable margin			62.50%
2.500% Senior Unsecured Notes Due 2026
Debt Instrument [Line Items]
Debt issuance costs		$ 6,100
2.500% Senior Unsecured Notes Due 2031
Debt Instrument [Line Items]
Interest rate of debt instrument				2.60%
Debt instrument, original issue discount				$ 6,300
Interest payment period			10-year
Percentage of principal amount redeemable			100.00%
Semi annual basis, treasury rate			20.00%
Percentage of aggregate amount repurchased			101.00%
Credit Facility, termination date			Jul. 01, 2021
Debt instrument, principal amount				$ 750,000		$ 750,000	750,000
Debt instrument, interest rate				2.50%		2.50%
Debt instrument, maturity period			2031-07
2.500% Senior Unsecured Notes Due 2031 \| Redeemable On or After April 1, 2031 [Member]
Debt Instrument [Line Items]
Percentage of principal amount redeemable			100.00%
Debt instrument, interest rate				2.50%
Term Loan [Member]
Debt Instrument [Line Items]
Weighted-average interest rate						4.40%
Term loan facility, unused borrowing capacity, Amount	$ 200,000
Term loan Maturity Date					May 05, 2027
Debt instrument, principal amount						$ 192,500	$ 0
Quarterly principle payments	2,500
Term Loan Agreement [Member]
Debt Instrument [Line Items]
Repayment of Term Loan				$ 665,000
4.500% Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Repayments of Other Long-term Debt		$ 350,000
Redemption date		Jul. 17, 2021
Termination premium		$ 8,400
Term loan Maturity Date		Jul. 19, 2021
Debt instrument, maturity period		2026-08
Revolving Credit Facility
Debt Instrument [Line Items]
Borrowings outstanding under Credit Facility						157,000
Outstanding borrowings						$ 586,600
Revolving Credit Facility \| Minimum [Member]
Debt Instrument [Line Items]
Supplementary leverage ratio				0.0350
Revolving Credit Facility \| Unsecured Debt Member
Debt Instrument [Line Items]
Credit Facility, principal balance	$ 750,000
Revolving Credit Facility \| Term Loan [Member]
Debt Instrument [Line Items]
Credit Facility, principal balance					$ 200,000
Revolving Credit Facility \| Swingline Loan [Member]
Debt Instrument [Line Items]
Credit Facility, principal balance				$ 25,000
Line of Credit [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Amount of increase in borrowing capacity			$ 375,000
Line of Credit [Member] \| NYFRB [Member]
Debt Instrument [Line Items]
Variable margin			0.50%
Letter of Credit [Member]
Debt Instrument [Line Items]
Credit Facility, principal balance				1,125,000
Unused line of credit commitment fee based on leverage ratio						12.50%
Letter of Credit Facility				$ 40,000
Outstanding letters of credit , amount						$ 6,400

Consolidated Statements of Earnings - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenue	$ 2,148,069	$ 1,861,522	$ 1,622,642
Cost of good sold	1,508,803	1,341,908	1,214,287
Gross Profit	639,266	519,614	408,355
Equity in Earnings of Unconsolidated Joint Venture	35,474	32,488	37,441
Corporate General and Administrative Expense	(53,630)	(46,801)	(49,511)
Loss on Early Retirement of Senior Notes	0	(8,407)	0
Gain on Sale of Businesses	0	0	51,973
Other Nonoperating Income	2,654	9,073	20,274
Interest Expense, net	(35,171)	(30,873)	(44,420)
Earnings from Continuing Operations Before Income Taxes	588,593	475,094	424,112
Income Taxes	(127,053)	(100,847)	(89,946)
Earnings from Continuing Operations	461,540	374,247	334,166
Earnings from Discontinued Operations, net of Income Taxes	0	0	5,278
Net Earnings	$ 461,540	$ 374,247	$ 339,444
BASIC EARNINGS PER SHARE
Continuing Operations	$ 12.54	$ 9.23	$ 8.04
Discontinued Operations	0	0	0.13
Net Earnings	12.54	9.23	8.17
DILUTED EARNINGS PER SHARE
Continuing Operations	12.46	9.14	7.99
Discontinued Operations	0	0	0.13
Net Earnings	$ 12.46	$ 9.14	$ 8.12
AVERAGE SHARES OUTSTANDING
Basic	36,798,354	40,547,048	41,543,067
Diluted	37,052,942	40,929,712	41,826,709
CASH DIVIDENDS PER SHARE	$ 1.00	$ 0.75	$ 0.10

ACCRUED EXPENSES (Tables)

12 Months Ended

Mar. 31, 2023

Payables and Accruals [Abstract]

Schedule of Accrued Expenses

Accrued expenses consist of the following:


	March 31,
	2023		2022
	(dollars in thousands)
Payroll and Incentive Compensation	$	32,742	$	37,262
Benefits		16,130		14,894
Interest		7,163		5,052
Dividends		9,186		9,756
Property Taxes		6,671		6,514
Power and Fuel		3,051		2,877
Freight		1,663		1,172
Legal and Professional		1,691		989
Sales and Use Tax		1,452		1,509
Other		6,723		6,729
	$	86,472	$	86,754

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Mar. 31, 2022
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	35,768,376	38,710,929
Common Stock, Outstanding	35,768,376	38,710,929

Fair Value of Financial Instruments (Parenthetical) (Detail) - 2.500% Senior Unsecured Notes Due 2031 [Member]	12 Months Ended
	Mar. 31, 2023	Jul. 01, 2021
Fair Value Of Financial Instruments [Line Items]
Debt instrument, interest rate	2.50%	2.50%
Debt instrument, maturity year	2031

ACQUISITIONS

12 Months Ended

Mar. 31, 2023

Business Combinations [Abstract]

ACQUISITIONS

(B) ACQUISITIONS

ConAgg Acquisition

On April 22, 2022, we purchased the assets of a readymix concrete and aggregates business (the ConAgg Acquisition), which was accounted for under the acquisition method. The purchase price of the ConAgg Acquisition, after subsequent working capital adjustments, was approximately $120.2 million. The purchase price and expenses incurred in connection with the ConAgg Acquisition were funded primarily through borrowings under our Revolving Credit Facility. Operations related to the ConAgg Acquisition are included in the Concrete and Aggregates business in our segment reporting from April 22, 2022 through March 31, 2023.

The following table summarizes the allocation of the Purchase Price to assets acquired and liabilities assumed:


	(dollars in thousands)
Working Capital	$	10,780
Property, Plant, and Equipment		39,489
Intangible Assets		30,750
Goodwill		39,135
Total Purchase Price	$	120,154

The estimated useful lives assigned to Property, Plant, and Equipment range from 5 to15 years, while the estimated useful lives assigned to Intangible Assets range from 2 to 15 years.

The following table presents the Revenue and Operating Earnings related to the ConAgg Acquisition that has been included in our Consolidated Statement of Earnings from April 22, 2022 through March 31, 2023.


	For the Year Ended March 31,
	2023
	(dollars in thousands)
Revenue	$	44,546
Operating Earnings	$	1,615

Included in Operating Earnings shown above is approximately $8.2 million and $2.2 million related to depreciation and amortization and the recording of inventories at fair value, respectively.

Terminal Acquisition

On September 16, 2022, we acquired a cement distribution terminal located in Nashville, Tennessee (the Terminal Acquisition), which was accounted for under the acquisition method. The purchase price of the Terminal Acquisition was approximately $39.5 million. The Terminal Acquisition was funded through borrowings under our Revolving Credit Facility. Operations related to the Terminal Acquisition are included in the segment reporting for our Cement business from September 16, 2022 through March 31, 2023.

The following table summarizes allocation of the Terminal Acquisition purchase price to the assets acquired and liabilities assumed:


	(dollars in thousands)
Working Capital	$	1,116
Property, Plant, and Equipment		23,301
Intangible Assets		2,589
Goodwill		12,439
Total Purchase Price	$	39,445

All Goodwill generated by the ConAgg and Terminal Acquisitions is deductible for income tax purposes.

Subsequent Acquisition

On May 3, 2023, we acquired a cement import distribution terminal in Stockton, California (the Stockton Acquisition). The Stockton Acquisition will be included in our Heavy Materials sector, in the Cement business segment, in fiscal 2024.

Pension and Profit Sharing Plans - Schedule of Fair Values of Defined Benefit Plans Determined Using Fair Value Hierarchy of Inputs (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	$ 31,106	$ 36,313	$ 37,907
Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	417	182
Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	30,689	36,131
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	2,878	3,433
Equity Securities [Member] \| Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	2,878	3,433
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	27,811	32,583
Fixed Income Securities [Member] \| Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	27,811	32,583
Real Estate Funds [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	0	115
Real Estate Funds [Member] \| Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans		115
Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	417	182
Cash Equivalents [Member] \| Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair values of defined benefit plans	$ 417	$ 182

- Definition

+ References + Details

Schedule of Components of Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Current Provision - Federal	$ 103,940	$ 87,626	$ 67,913
Current Provision - State	18,520	6,924	9,587
Current Provision - Total	122,460	94,550	77,500
Deferred Provision (Benefit) - Federal	11,321	3,491	7,207
Deferred Provision (Benefit) - State	(6,728)	2,806	5,239
Deferred Provision (Benefit) - Total	4,593	6,297	12,446
Provision for Income Taxes	$ 127,053	$ 100,847	$ 89,946

- Definition

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

+ References + Details

Pension and Profit Sharing Plans - Schedule of Assumptions Used in Net Periodic Benefit Cost and Benefit Obligations (Detail)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Retirement Benefits [Abstract]
Net Periodic Benefit Costs - Discount Rate	3.75%	3.33%	3.64%
Net Periodic Benefit Costs - Expected Return on Plan Assets	3.85%	3.50%	4.00%
Benefit Obligations - Discount Rate	4.99%	3.75%

Indebtedness - Long-Term Debt (Parenthetical) (Detail) - 2.500% Senior Unsecured Notes Due 2031 [Member]	12 Months Ended
	Mar. 31, 2023	Jul. 01, 2021
Debt Instrument [Line Items]
Debt instrument, interest rate	2.50%	2.50%
Debt instrument, maturity year	2031

Schedule of Future Payments for Operating Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Leases [Abstract]
2024	$ 6,875
2025	6,427
2026	4,662
2027	3,540
2028	2,705
Thereafter	14,229
Total Lease Payments	38,438
Less: Imputed Interest	(7,489)
Present Value of Lease Liabilities	$ 30,949	$ 36,330
Weighted Average Remaining Lease Term (in years)	10 years 2 months 12 days
Weighted Average Discount Rate	3.80%

Schedule of Property, Plant and Equipment Estimated Useful Lives (Detail)	12 Months Ended
	Mar. 31, 2023
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

Indebtedness - Schedule of Maturities of Long-Term Debt (Detail) $ in Thousands	Mar. 31, 2023 USD ($)
Debt Disclosure [Abstract]
2024	$ 10,000
2025	10,000
2026	10,000
2027	10,000
2028	309,500
Thereafter	750,000
Total	$ 1,099,500

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Mar. 31, 2023	May 17, 2023	Sep. 30, 2022
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
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		35,385,442
Entity Public Float			$ 3.9
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, 2023 are incorporated by reference in Part III of this Report.
Auditor Firm ID	42
Auditor Location	Dallas, Texas
Auditor Name	Ernst & Young LLP

Discontinued Operations and Other Dispositions - Summary of Operating Results from Discontinued Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Net Earnings from Discontinued Operations	$ 0	$ 0	$ 5,278
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
Cost of Goods Sold			3,415
Gross Profit			(2,370)
Other Nonoperating Income			226
Gain on Sale of Discontinued Operations			9,230
Earnings from Discontinued Operations			7,086
Income Tax Expense			(1,808)
Net Earnings from Discontinued Operations			$ 5,278

FAIR VALUE OF FINANCIAL INSTRUMENTS

12 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE OF FINANCIAL INSTRUMENTS

(H) Fair Value of Financial Instruments


	Fair Value
	(dollars in thousands)
2.500% Senior Unsecured Notes Due 2031	$	610,000

The estimated fair value of our long-term debt was based on publicly quoted prices of these debt instruments (level 1 input). The carrying values of cash and cash equivalents, accounts and notes receivable, accounts payable, and accrued liabilities approximate their fair values at March 31, 2023, due to the short-term maturities of these assets and liabilities. The fair value of our Revolving Credit Facility and Term Loan also approximates its carrying values at March 31, 2023.

- 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

Stock Option Plans - Additional Information (Detail) - USD ($) $ in Millions		1 Months Ended			12 Months Ended
	Jul. 19, 2021	Aug. 31, 2022	May 31, 2022	Aug. 31, 2021	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021	Aug. 07, 2013
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant					3,260,302			3,000,000
Stock option expense					$ 3.4	$ 3.4	$ 4.9
Aggregate intrinsic value for outstanding options					24.9
Aggregate intrinsic value for exercisable options					20.0
Total intrinsic value of options exercised					4.4	15.7	26.4
Restricted stock or unit expense					13.7	$ 10.9	$ 10.4
Unrecognized compensation cost					$ 3.3
Options granted					56,621	11,316	187,121
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					25,192
Percentage of average return on invested capital					20.00%
Reduced percentage of shares earned in stock options plan					66.70%
Stock based compensation plan, description					The performance criterion for the Fiscal 2023 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, 2023. 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 be forfeited.
Share-based compensation vesting period			4 years
Share-based compensation award expiration term			10 years
Performance Vesting Stock Options [Member] \| Long Term Compensation Plan [Member] \| Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of average return on invested capital			10.00%
Share-based compensation expiration date					Mar. 31, 2024
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, 2026
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			20,994
Share-based compensation vesting period			4 years
Time Vesting Stock Options [Member] \| Long Term Compensation Plan [Member] \| Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expiration date					Mar. 31, 2024
Time Vesting Stock Options [Member] \| Long Term Compensation Plan [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expiration date					Mar. 31, 2026
Stock Options [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted-average period of recognition of unrecognized compensation cost					2 years 3 months 18 days
Stock Options [Member] \| Long Term Compensation Plan [Member] \| Board of Director [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation award expiration term		10 years
Options granted		3,510
Performance Vesting Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant			50,783
Percentage of average return on invested capital					20.00%
Stock based compensation plan, description					The performance criterion for the Fiscal 2023 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, 2023. All restricted shares would be earned if the return on equity was 20.0% or greater, and the percentage of shares earned would 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 be forfeited.
Share-based compensation vesting period			4 years
Share-based compensation vesting date			Mar. 31, 2026
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, 2024
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%
Time Vesting Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant			42,545
Share-based compensation vesting period	4 years		4 years
Share-based compensation vesting date			Mar. 31, 2024
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
Time Vesting Restricted Stock [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation vesting date			Mar. 31, 2026
Restricted Stock [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant					219,000
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					$ 17.8
Restricted Stock [Member] \| Board of Director [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for future grant		14,482
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					944,043

Pension and Profit Sharing Plans - Components of Net Periodic Cost (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Retirement Benefits [Abstract]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) Excluding Service Cost, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense	Interest Expense	Interest Expense
Interest Cost of Projected Benefit Obligation	$ 1,240	$ 1,167	$ 1,216
Expected Return on Plan Assets	(1,366)	(1,299)	(1,419)
Recognized Net Actuarial Loss	123	143	133
Net Periodic Pension Cost	$ (3)	$ 11	$ (70)

BUSINESS SEGMENTS

12 Months Ended

Mar. 31, 2023

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 over 30 cement distribution terminals, including terminals acquired in the Stockton Acquisition. 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 30 readymix concrete batch plants and five aggregates processing plants in markets that are complementary to our cement network.

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

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 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,
	2023			2022			2021
	(dollars in thousands)
Revenue
Cement	$	1,074,070		$	1,007,094		$	944,556
Concrete and Aggregates		239,516			177,122			168,829
Gypsum Wallboard		872,471			692,152			539,009
Paperboard		201,280			194,054			163,507
		2,387,337			2,070,422			1,815,901
Less: Intersegment Revenue		(125,750	)		(105,001	)		(88,068	)
Less: Joint Venture Revenue		(113,518	)		(103,899	)		(105,191	)
	$	2,148,069		$	1,861,522		$	1,622,642


	For the Years Ended March 31,
	2023		2022		2021
	(dollars in thousands)
Intersegment Revenue
Cement	$	32,915	$	22,915	$	20,862
Concrete and Aggregates		—		—		106
Paperboard		92,835		82,086		67,100
	$	125,750	$	105,001	$	88,068
Cement Sales Volume (M tons)
Wholly Owned		6,399		6,711		6,576
Joint Venture		734		823		890
		7,133		7,534		7,466


	For the Years Ended March 31,
	2023				2022			2021
				(dollars in thousands)
Operating Earnings
Cement	$	278,762			$	259,556		$	233,957
Concrete and Aggregates		18,259				18,467			19,054
Gypsum Wallboard		352,499				261,476			167,336
Paperboard		25,220				12,603			25,449
Sub-Total		674,740				552,102			445,796
Corporate General and Administrative Expense		(53,630	)			(46,801	)		(49,511	)
Loss on Early Retirement of Senior Notes		—				(8,407	)		—
Gain on Sale of Businesses		—				—			51,973
Other Nonoperating Income (Loss)		2,654				9,073			20,274
Earnings Before Interest and Income Taxes		623,764				505,967			468,532
Interest Expense, net		(35,171	)			(30,873	)		(44,420	)
Earnings Before Income Taxes	$	588,593			$	475,094		$	424,112
Cement Operating Earnings
Wholly Owned	$	243,288			$	227,068		$	196,516
Joint Venture		35,474				32,488			37,441
	$	278,762			$	259,556		$	233,957
Capital Expenditures
Cement	$	39,049			$	31,535		$	26,708
Concrete and Aggregates		35,503				5,239			3,114
Gypsum Wallboard		31,063				32,405			12,889
Paperboard		2,898				2,579			11,222
Corporate and Other		1,630				2,363			—
	$	110,143			$	74,121		$	53,933
Depreciation, Depletion, and Amortization
Cement	$	81,643			$	79,560		$	77,524
Concrete and Aggregates		17,413				9,656			10,807
Gypsum Wallboard		21,744				22,024			21,646
Paperboard		14,942				14,721			13,913
Corporate and Other		2,812				2,850			4,976
	$	138,554			$	128,811		$	128,866

Discontinued Operations
Capital Expenditures	$	—			$	—		$	—
Depreciation, Depletion, and Amortization	$	—			$	—		$	221


	March 31,
	2023		2022		2021
	(dollars in thousands)
Segment Assets
Cement	$	1,905,227	$	1,860,649	$	1,898,930
Concrete and Aggregates		234,767		89,405		88,410
Gypsum Wallboard		421,425		397,486		366,352
Paperboard		163,797		180,025		186,156
Corporate and Other, net		55,786		52,087		298,833
	$	2,781,002	$	2,579,652	$	2,838,681

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 nonrecurring 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, 2023 and 2022 is as follows:


	For the Years Ended March 31,
	2023		2022
	(dollars in thousands)
Cement	$	215,781	$	203,342
Concrete and Aggregates		40,774		1,639
Gypsum Wallboard		116,618		116,618
Paperboard		7,538		7,538
	$	380,711	$	329,137

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


	For the Years Ended March 31,
	2023		2022
	(dollars in thousands)
Revenue	$	227,565	$	209,937
Gross Margin	$	77,673	$	69,913
Earnings Before Income Taxes	$	71,491	$	65,541


	March 31,
	(dollars in thousands)
Current Assets	$	88,562	$	73,462
Noncurrent Assets	$	124,503	$	112,439
Current Liabilities	$	29,434	$	17,161

- 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

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+ Details

Consolidated Statements of Comprehensive Earnings - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net Earnings	$ 461,540	$ 374,247	$ 339,444
Net Actuarial Change in Defined Benefit Plans:
Unrealized (Loss) Gain During the Period, net of tax (benefit) expense of $(147), $48, and $33	(465)	161	101
Amortization of Net Actuarial Gain (Loss), net of tax (expense) benefit of $30, $39, and $(49)	93	104	(154)
Comprehensive Earnings	$ 461,168	$ 374,512	$ 339,391

- 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

PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Mar. 31, 2023

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,
	2023			2022
	(dollars in thousands)
Land and Quarries	$	311,743		$	231,499
Plants		2,423,426			2,380,926
Buildings, Machinery, and Equipment		226,018			194,753
Construction in Progress		65,455			50,270
		3,026,642			2,857,448
Accumulated Depreciation		(1,364,581	)		(1,240,909	)
	$	1,662,061		$	1,616,539

INDEBTEDNESS

12 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

INDEBTEDNESS

(G) Indebtedness

Long-term debt at March 31, 2023 consists of the following:


	As of March 31,
	2023			2022
	(dollars in thousands)
Revolving Credit Facility	$	157,000		$	200,000
2.500% Senior Unsecured Notes Due 2031		750,000			750,000
Term Loan		192,500			—
Total Debt		1,099,500			950,000
Less: Current Portion of Long-term Debt		(10,000	)		—
Less: Unamortized Discount and Debt Issuance Costs		(10,468	)		(11,735	)
Long-term Debt	$	1,079,032		$	938,265

The weighted-average interest rate of borrowings under our Revolving Credit Facility during fiscal years 2023, 2022, and 2021 was approximately 3.7%, 1.5%, and 2.8%, respectively. The weighted-average interest rate on our Term Loan was approximately 4.4% during fiscal 2023. The interest rate on the Revolving Credit Facility and Term Loan was approximately 6.0% and 1.7% at March 31, 2023 and 2022, respectively.

Revolving Credit Facility

We have an unsecured $750.0 million revolving credit facility that was amended on May 5, 2022 (such facility, as amended, the Revolving Credit Facility). The Revolving Credit Facility includes a separate $200.0 million term loan facility (the Term Loan) and also provides the Company the option to increase the borrowing capacity by up to $375.0 million (for a total borrowing capacity of $1,125.0 million, excluding the Term Loan), provided that the existing lenders, or new lenders, agree to such increase. The Revolving Credit Facility includes a $40.0 million letter of credit facility and a swingline loan sub-facility of $25.0 million, and expires on May 5, 2027.

The Revolving Credit Facility contains customary covenants for an unsecured investment-grade facility, including covenants that restrict the Company’s and/or its subsidiaries’ ability to incur additional debt; encumber assets; merge with or transfer or sell assets to other persons; and enter into certain affiliate transactions. 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 (both ratios, as

defined in the Revolving Credit Facility) equal to or greater than 2.50 to 1.00 (collectively, the Financial Covenants).

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 100 to 162.5 basis points, which is established based on the Company's credit rating); 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) in effect on any applicable day, (b) the NYFRB Rate (as defined in the Revolving Credit Facility) in effect on any applicable day, plus ½ of 1%, and (c) the Adjusted LIBO Rate for a one-month interest period on any applicable day, or if such day is not a business day, the immediately preceding business day, plus 1.0%, in each case plus an agreed upon spread (ranging from 0 to 62.5 basis points) which is established quarterly based on the Company's credit rating. The Company is also required to pay a facility fee on unused available borrowings under the Revolving Credit Facility ranging from 9 to 22.5 basis points which is established based on the Company's then credit rating.

The Company pays each lender a participation fee with respect to such lender’s participation in letters of credit, which fee accrues at the same Applicable Rate (as defined in the Revolving Credit Facility) used to determine the interest rate applicable to Eurodollar Revolving Loans (as defined in the Revolving Credit Facility) plus a fronting fee for each letter of credit issued by the issuing bank in an amount equal to 12.5 basis points per annum on the daily maximum amount then available to be drawn under such letter of credit. The Company also pays each issuing bank such bank’s standard fees with respect to issuance, amendment or extensions of letters of credit and other processing fees, and other standard costs and charges relating to such issuing bank’s letters of credit from time to time.

There was $157.0 million of outstanding borrowings under the Revolving Credit Facility, plus $6.4 million of outstanding letters of credit as of March 31, 2023, leaving us with $586.6 million of available borrowings under the Revolving Credit Facility, net of outstanding letters of credit. We were in compliance with all covenants at March 31, 2023; therefore, all $586.6 million is available for future borrowings.

Term Loan

On May 5, 2022, we borrowed the $200.0 million Term Loan under the Revolving Credit Facility, and used these proceeds to, among other things, pay down a portion of the Revolving Credit Facility. The Term Loan requires quarterly principal payments of $2.5 million, with any unpaid amounts due upon maturity on May 5, 2027. At the Company’s option, principal amounts outstanding under the Term Loan bear interest as set forth in the Revolving Credit Facility (but not, for the avoidance of doubt, at a daily simple SOFR rate unless and until such time as the then-existing Benchmark [as defined in the Revolving Credit Facility] is replaced in accordance with the Revolving Credit Facility).

2.500% Senior Unsecured Notes Due 2031

On July 1, 2021, we issued $750.0 million aggregate principal amount of 2.500% senior notes due July 2031 (the 2.500% Senior Unsecured Notes). The 2.500% Senior Unsecured Notes are senior unsecured obligations of the Company and are not guaranteed by any of our subsidiaries. The 2.500% Senior Unsecured Notes were issued net of the original issue discount of $6.3 million and have an effective interest rate of approximately 2.6%. The original issue discount is being amortized by the effective interest method over the 10-year term of the notes. The 2.500% Senior Unsecured Notes are redeemable prior to April 1, 2031 at a redemption price equal to 100% of the aggregate principal amount of the 2.500% Senior Unsecured Notes being redeemed, plus the present value of remaining scheduled payments of principal and interest from the applicable redemption date to April 1, 2031, discounted to the redemption date on a semi-annual basis at the Treasury rate plus 20 basis points. The 2.500% Senior Unsecured Notes are redeemable on or after April 1, 2031, at a redemption price equal to 100% of the aggregate principal amount of the 2.500% Senior Unsecured Notes being redeemed, plus accrued and unpaid interest to, but excluding, the applicable redemption date. If we experience certain change of control triggering events, we would be required to offer to repurchase the 2.500% Senior Unsecured Notes at a purchase price equal to 101% of the aggregate principal amount of the 2.500% Senior Unsecured Notes being repurchased, plus accrued and unpaid interest to, but excluding, the applicable redemption date. The indenture governing the 2.500% Senior Unsecured Notes contains certain covenants that limit our ability to create or permit to exist certain liens; enter into sale and leaseback transactions; and consolidate, merge, or transfer all or substantially all of our assets, and provides for certain events of default that, if any occurred, would permit or require the principal of and accrued interest on the 2.500% Senior Unsecured Notes to become or be declared due and payable.

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


Fiscal Year	Amount
2024	$	10,000
2025		10,000
2026		10,000
2027		10,000
2028		309,500
Thereafter		750,000
Total	$	1,099,500

Retirement of Debt

In connection with the issuance of the 2.500% Senior Unsecured notes, on July 1, 2021, we repaid all outstanding amounts under and terminated our $665.0 million term loan credit agreement (the Term Loan Facility). The Term Loan Facility was 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. Additionally, on July 19, 2021, (the first business day following the redemption date), we redeemed and paid in full all outstanding amounts due under the $350.0 million aggregate principal amount of 4.500% senior notes (4.500% Senior Unsecured Notes) due August 2026, using proceeds from the 2.500% Senior Unsecured Notes, the Revolving Credit Facility and cash on hand. The 4.500% Senior Unsecured Notes redemption price included all of the outstanding principal and accrued interest through the redemption date of July 17, 2021, as well as an early termination premium of approximately $8.4 million. In connection with the termination and repayment of the Term Loan Facility and the redemption of the 4.500% Senior Unsecured Notes, we expensed approximately $6.1 million of related debt issuance costs in July 2021.

Acquisitions - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Business Acquisition [Line Items]
Goodwill	$ 380,711	$ 329,137
Con Agg Acquisition [Member]
Business Acquisition [Line Items]
Working Capital	10,780
Property, Plant, and Equipment	39,489
Intangible Assets	30,750
Goodwill	39,135
Total Purchase Price	120,154
Terminal Acquisition [Member]
Business Acquisition [Line Items]
Working Capital	1,116
Property, Plant, and Equipment	23,301
Intangible Assets	2,589
Goodwill	12,439
Total Purchase Price	$ 39,445

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Weighted-Average Assumptions Used to Value Option Awards (Detail) - Long Term Compensation Plan [Member] - Stock Options [Member]	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend Yield	0.80%	0.80%
Expected Volatility	38.20%	38.40%
Risk-Free Interest Rate	2.90%	1.00%
Expected Life	6 years	6 years

Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Accounts Payable and Accrued Liabilities, Current [Abstract]
Payroll and Incentive Compensation	$ 32,742	$ 37,262
Benefits	16,130	14,894
Interest	7,163	5,052
Dividends	9,186	9,756
Property Taxes	6,671	6,514
Power and Fuel	3,051	2,877
Freight	1,663	1,172
Legal and Professional	1,691	989
Sales and Use Tax	1,452	1,509
Other	6,723	6,729
Accrued Expenses, Total	$ 86,472	$ 86,754

Pension and Profit Sharing Plans - Schedule of Expected Benefit Payments (Detail) $ in Thousands	Mar. 31, 2023 USD ($)
Retirement Benefits [Abstract]
2024	$ 1,753
2025	1,842
2026	1,890
2027	1,964
2028	1,994
2029-2033	$ 9,834

Significant Accounting Policies - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands			12 Months Ended
	Apr. 28, 2023	Sep. 18, 2020	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021	May 17, 2022
Significant Accounting Policies [Line Items]
Purchase price of separate operating segment			$ 158,451	$ 0	$ 0
Gain on Sale of Businesses			0	0	51,973
Allowance for doubtful accounts			6,900	6,700
Bad debt expense			300	300	700
Write-offs of accounts receivable			100	1,600	1,200
Notes receivable, total			8,500
Notes receivable, current			1,100
Proceeds from collection of notes receivable	$ 8,500
Depreciable assets			$ 129,600	$ 122,400	120,700
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			$ 6,800	$ 4,400	4,500
Amortization expense, expected, for fiscal year 2024			6,800
Amortization expense, expected, for fiscal year 2025			6,600
Amortization expense, expected, for fiscal year 2026			6,600
Amortization expense, expected, for fiscal year 2027			6,400
Amortization expense, expected, for fiscal year 2028			$ 6,300
Number of additional shares authorized to be repurchased						7,500,000
Repurchase of shares			3,075,788	3,982,657
Shares repurchased average price			$ 126.05	$ 148.08
Stock repurchase remaining number of shares authorized to be repurchased			7,747,204
Freight expense			$ 1,508,803	$ 1,341,908	1,214,287
Accumulated other comprehensive loss			3,547	3,175
Net of income taxes for accumulated other comprehensive loss			1,000
Maintenance and repair expenses			$ 173,400	$ 147,800	$ 137,200
Stock options excluded from computation of diluted earnings per share			52,375	6,053	569,431
Stock options, average exercise price per share			$ 127.06	$ 139.80	$ 89.11
Freight [Member]
Significant Accounting Policies [Line Items]
Freight expense			$ 229,600	$ 199,100	$ 177,500
Minimum [Member]
Significant Accounting Policies [Line Items]
Long term supply agreements term of termination notice period			2 years
Revenue from contract with customer collection terms			30 days
Maximum [Member]
Significant Accounting Policies [Line Items]
Long term supply agreements term of termination notice period			3 years
Revenue from contract with customer collection terms			75 days
Oil and Gas Proppants [Member]
Significant Accounting Policies [Line Items]
Purchase price of separate operating segment		$ 2,000
Discontinued Operations, Disposed of by Sale \| Oil and Gas Proppants [Member]
Significant Accounting Policies [Line Items]
Gain on Sale of Businesses		$ 9,200

Indebtedness - Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Jul. 01, 2021
Debt Instrument [Line Items]
Revolving Credit Facility	$ 157,000	$ 200,000
Total Debt	1,099,500	950,000
Less: Current Portion of Long-term Debt	(10,000)	0
Less: Unamortized Discounts and Debt Issuance Costs	(10,468)	(11,735)
Long-term Debt	1,079,032	938,265
2.500% Senior Unsecured Notes Due 2031 [Member]
Debt Instrument [Line Items]
Total Debt	750,000	750,000	$ 750,000
Term Loan [Member]
Debt Instrument [Line Items]
Total Debt	$ 192,500	$ 0

- 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

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES
Net Earnings	$ 461,540	$ 374,247	$ 339,444
Adjustments to Reconcile Net Earnings to Net Cash Provided by Operating Activities, Net of Effect of Noncash Activity:
Depreciation, Depletion, and Amortization	138,554	128,811	129,087
Write-off of debt issuance costs	0	6,101	0
Deferred Income Tax Provision	4,475	6,383	59,319
Stock Compensation Expense	17,155	14,264	15,293
Gain on Sale of Businesses	0	0	(61,203)
Equity in Earnings of Unconsolidated Joint Venture	(35,474)	(32,488)	(37,441)
Distributions from Joint Venture	27,000	27,250	36,000
Changes in Operating Assets and Liabilities:
Accounts and Notes Receivable	(12,035)	(29,209)	2,127
Inventories	(47,946)	(912)	30,002
Accounts Payable and Accrued Liabilities	(7,797)	27,192	9,541
Other Assets	4,955	(1,331)	(6,455)
Income Taxes Receivable	(8,701)	(3,137)	127,359
Net Cash Provided by Operating Activities	541,726	517,171	643,073
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment	(110,143)	(74,121)	(53,933)
Acquisition Spending	(158,451)	0	0
Proceeds from Sale of Businesses	0	0	91,022
Net Cash Provided by (Used in) Investing Activities	(268,594)	(74,121)	37,089
CASH FLOWS FROM FINANCING ACTIVITIES
Borrowings Under Revolving Credit Facility	200,000	200,000	0
Repayment of Borrowings Under Revolving Credit Facility	(43,000)	0	(560,000)
Proceeds from 2.500% Senior Unsecured Notes	0	743,692	0
Repayment of 4.500% Senior Unsecured Notes	0	(350,000)	0
Repayment of Term Loan	(7,500)	(665,000)	0
Dividends Paid to Stockholders	(37,496)	(30,770)	(4,163)
Purchase and Retirement of Common Stock	(387,717)	(589,742)	0
Proceeds from Stock Option Exercises	5,418	21,366	40,455
Premium Paid on Early Retirement of Senior Notes	0	(8,407)	0
Payment of Debt Issuance Costs	(903)	(7,985)	(2,396)
Shares Redeemed to Settle Employee Taxes on Stock Compensation	(6,108)	(5,308)	(4,186)
Net Cash Used in Financing Activities	(277,306)	(692,154)	(530,290)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(4,174)	(249,104)	149,872
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD	19,416	268,520	118,648
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$ 15,242	$ 19,416	$ 268,520

Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Cash Payments:
Interest	$ 31,596	$ 21,298	$ 42,343
Income Taxes	131,512	86,407	32,870
Operating Cash Flows Used for Operating Leases	8,314	8,141	10,741
Noncash Financing Activities:
Right-of-use Assets Obtained for Capitalized Operating Lease	1,711	2,598	272
Excise Tax on Share Repurchases	$ 738	$ 0	$ 0

LEASES

12 Months Ended

Mar. 31, 2023

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 12 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,
	2023		2022		2021
	(dollars in thousands)
Operating Lease Cost	$	7,339	$	6,543	$	6,757
Short-term Lease Cost		593		1,261		2,562
Total Lease Cost	$	7,932	$	7,804	$	9,319

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


	March 31,
	2023		2022
	(dollars in thousands)
Operating Leases:
Operating Lease Right-of-Use Assets	$	20,759	$	23,856

Current Operating Lease Liabilities	$	6,009	$	7,118
Noncurrent Operating Lease Liabilities		24,940		29,212
Total Operating Lease Liabilities	$	30,949	$	36,330

Future payments for operating leases are as follows:


	Amount
Fiscal Year	(dollars in thousands)
2024	$	6,875
2025		6,427
2026		4,662
2027		3,540
2028		2,705
Thereafter		14,229
Total Lease Payments	$	38,438
Less: Imputed Interest		(7,489	)
Present Value of Lease Liabilities	$	30,949

Weighted-Average Remaining Lease Term (in years)		10.2
Weighted-Average Discount Rate		3.80	%

Leases - Additional Information (Detail)	Mar. 31, 2023
Minimum [Member]
Lessee Lease Description [Line Items]
Operating lease term	1 year
Maximum [Member]
Lessee Lease Description [Line Items]
Operating lease term	20 years

PROPERTY, PLANT AND EQUIPMENT (Tables)

12 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

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


	March 31,
	2023			2022
	(dollars in thousands)
Land and Quarries	$	311,743		$	231,499
Plants		2,423,426			2,380,926
Buildings, Machinery, and Equipment		226,018			194,753
Construction in Progress		65,455			50,270
		3,026,642			2,857,448
Accumulated Depreciation		(1,364,581	)		(1,240,909	)
	$	1,662,061		$	1,616,539

Discontinued Operations and Other Dispositions - Summary of Significant Components of Consolidated Statement of Cash Flows for Discontinued Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Depreciation and Amortization	$ 0	$ 0	$ 221
Gain on Sale of Business	0	0	(51,973)
Capital Expenditures	$ 0	$ 0	0
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
Gain on Sale of Business			$ (9,230)

Pension and Profit Sharing Plans - Schedule of Reconciliation of Obligations and Fair Values of Plan Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Retirement Benefits [Abstract]
Benefit Obligation at April 1,	$ 33,909	$ 35,844
Interest Cost on Projected Benefit Obligation	1,240	1,167	$ 1,216
Actuarial Gain	(4,509)	(1,776)
Benefits Paid	(1,451)	(1,326)
Benefit Obligation at March 31,	29,189	33,909	35,844
Fair Value of Plan Assets at April 1,	36,313	37,907
Actual Return on Plan Assets	(3,756)	(268)
Benefits Paid	(1,451)	(1,326)
Fair Value of Plan Assets at March 31,	31,106	36,313	$ 37,907
Funded Status at March 31,	1,917	2,404
Other Assets	1,917	2,404
Accumulated Other Comprehensive Losses - Net Actuarial Loss	4,662	4,172
Accumulated Other Comprehensive Losses	4,662	4,172
Tax Impact	(1,115)	(997)
Accumulated Other Comprehensive Losses, net of tax	$ 3,547	$ 3,175

Schedule of Components of Deferred Income Taxes (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Excess Tax Depreciation and Amortization	$ (253,541)	$ (242,335)
Investment in Joint Venture Basis Differences	(8,744)	(7,813)
Depletable Assets	(3,876)	(3,769)
Right of Use Assets	(5,202)	(5,897)
Inventory	(406)	(548)
Other	(2,908)	(3,506)
Total Deferred Tax Liabilities	(274,677)	(263,868)
Change in Accruals	12,886	13,255
Bad Debts	1,662	1,600
Long-term Incentive Compensation Plan	3,515	3,252
Credits and Other Carryforwards	12,995	12,747
Lease Liability	7,647	8,849
Pension	1,128	1,001
Subtotal	39,833	40,704
Valuation Allowance	(2,000)	(9,205)
Total Deferred Tax Assets	$ 37,833	$ 31,499

Schedule of Intangible Assets, Including Impact of Impairment Charges (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Finite Lived Intangible Assets [Line Items]
Intangible Assets, Cost	$ 469,657	$ 469,657
Intangible Assets, Accumulated Amortization	(88,522)	(81,759)
Goodwill, Cost	329,137	329,137
Goodwill, Additions	51,574
Goodwill, Net	380,711	329,137
Goodwill and Intangible Assets, Additions	84,908
Goodwill and Intangible Assets, net	466,043	387,898
Goodwill, Net	$ 380,711	$ 329,137
Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Intangible Assets, Useful Life		25 years
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	$ 108,610	$ 108,610
Intangible Assets, Additions	32,584
Intangible Assets, Accumulated Amortization	(75,413)	(69,866)
Intangible Assets, Net	65,781	38,744
Permits [Member]
Finite Lived Intangible Assets [Line Items]
Intangible Assets, Cost	30,410	30,410
Intangible Assets, Additions	350
Intangible Assets, Accumulated Amortization	(12,519)	(11,629)
Intangible Assets, Net	$ 18,241	$ 18,781
Permits [Member] \| Minimum [Member]
Finite Lived Intangible Assets [Line Items]
Intangible Assets, Useful Life	25 years
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	$ 1,500
Intangible Assets, Additions	400
Intangible Assets, Accumulated Amortization	(590)	(264)
Intangible Assets, Net	$ 1,310	$ 1,236

Consolidated Statements of Comprehensive Earnings (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Unrealized Gain During the Period, tax expense	$ (147)	$ 48	$ 33
Amortization of Net Actuarial Loss, tax benefit	$ 30	$ 39	$ (49)

Schedule of Balance Sheet Information Related to Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Operating Leases:
Operating Lease Right-of-Use Assets	$ 20,759	$ 23,856
Current Operating Lease Liabilities	6,009	7,118
Noncurrent Operating Lease Liabilities	24,940	29,212
Total Operating Lease Liabilities	$ 30,949	$ 36,330

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

Schedule of Inventories

Inventories consist of the following:


	March 31,
	2023		2022
	(dollars in thousands)
Raw Materials and Materials-in-Progress	$	96,880	$	81,308
Finished Cement		46,364		38,769
Aggregates		8,309		3,558
Gypsum Wallboard		4,244		3,452
Paperboard		8,651		7,462
Repair Parts and Supplies		112,885		91,593
Fuel and Coal		14,549		10,519
	$	291,882	$	236,661

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

Goodwill and Intangible Assets at March 31, 2023 and 2022, consist of the following:


	March 31, 2023
	Amortization Period	Cost		Additions		Accumulated Amortization			Net
	(dollars in thousands)
Goodwill and Intangible Assets:
Customer Contracts and Relationships	15 years	$	108,610	$	32,584	$	(75,413	)	$	65,781
Permits	25-40 years		30,410		350		(12,519	)		18,241
Trade Name	15 years		1,500		400		(590	)		1,310
Goodwill			329,137		51,574		—			380,711
Total Goodwill and Intangible Assets		$	469,657	$	84,908	$	(88,522	)	$	466,043


	March 31, 2022
	Amortization Period	Cost		Additions		Accumulated Amortization			Net
	(dollars in thousands)
Goodwill and Intangible Assets:
Customer Contracts and Relationships	15 years	$	108,610	$	—	$	(69,866	)	$	38,744
Permits	25-40 years		30,410		—		(11,629	)		18,781
Trade Name	15 years		1,500		—		(264	)		1,236
Goodwill			329,137		—		—			329,137
Total Goodwill and Intangible Assets		$	469,657	$	—	$	(81,759	)	$	387,898

Schedule of Supplemental Cash Flow Information

Supplemental cash flow information is as follows:


	For the Years Ended March 31,
		2023		2022		2021
	(dollars in thousands)
Cash Payments:
Interest	$	31,596	$	21,298	$	42,343
Income Taxes		131,512		86,407		32,870
Operating Cash Flows Used for Operating Leases		8,314		8,141		10,741

Noncash Financing Activities:
Right-of-Use Assets Obtained for Capitalized Operating Leases	$	1,711	$	2,598	$	272
Excise Tax on Share Repurchases		738		—		—

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,
	2023		2022		2021
	(dollars in thousands)
Operating Units Selling, G&A	$	65,468	$	56,561	$	56,309
Corporate G&A		53,630		46,801		49,511
	$	119,098	$	103,362	$	105,820

Schedule of Earnings per Share


	For the Years Ended March 31,
	2023			2022			2021
Weighted-Average Shares of Common Stock Outstanding		36,798,354			40,547,048			41,543,067
Effect of Dilutive Shares:
Assumed Exercise of Outstanding Dilutive Options		418,659			539,309			570,325
Less Shares Repurchased from Proceeds of Assumed Exercised Options		(290,590	)		(343,917	)		(429,815	)
Restricted Stock Units		126,519			187,272			143,132
Weighted-Average Common Stock and Dilutive Securities Outstanding		37,052,942			40,929,712			41,826,709

Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 3,026,642	$ 2,857,448
Accumulated Depreciation	(1,364,581)	(1,240,909)
Property, Plant and Equipment, Net	1,662,061	1,616,539
Land And Quarries [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	311,743	231,499
Plants [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	2,423,426	2,380,926
Buildings Machinery And Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	226,018	194,753
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Gross	$ 65,455	$ 50,270

Pension and Profit Sharing Plans - Additional information (Detail)	12 Months Ended
	Mar. 31, 2024 USD ($)	Mar. 31, 2023 USD ($) Employee Compensationplan	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Current actuarial estimates contributions for fiscal year 2023	$ 0
Employees fully vesting in employer's own contributions made beginning in 2007, requirement years		4 years
Costs relating to employer discretionary contributions		$ 9,100,000	$ 8,500,000	$ 8,300,000
Current actuarial estimates contributions		$ 1,400,000	1,300,000	1,100,000
Number of employees covered under multi-employer pension plans \| Employee		50
Number of multi-employer plans \| Compensationplan		2
Expenses related to multi employer plans		$ 1,800,000	$ 1,700,000	$ 1,800,000
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]
Expenses related to multi employer plans	$ 2,000,000.0

DISCONTINUED OPERATIONS AND OTHER DISPOSITIONS

12 Months Ended

Mar. 31, 2023

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS AND OTHER DISPOSITIONS

Discontinued Operations

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, 2023, 2022, and 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, 2023 and 2022.

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 for the year ended March 31, 2021, 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 from Discontinued Operations for the fiscal year ended March 31, 2021:


	(dollars in thousands)
Revenue	$	1,045
Cost of Goods Sold		3,415
Gross Profit		(2,370	)
Other Nonoperating Income		226
Gain on Sale of Discontinued Operations		9,230
Impairment Losses		—
Earnings from Discontinued Operations		7,086
Income Tax Expense		(1,808	)
Net Earnings from Discontinued Operations	$	5,278

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


	(dollars in thousands)
Depreciation and Amortization	$	221
Impairment Losses	$	—
Gain on Sale of Business	$	(9,230	)
Net Change in Inventory	$	—
Capital Expenditures	$	—

Business Segments - Additional Information (Detail)	12 Months Ended
Business Segments - Additional Information (Detail)	Mar. 31, 2023 Terminal Facility Plant Location Segment Sector
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	30
Gypsum wallboard plants	5
Readymix concrete batch plants	30
Aggregates processing plants	5
Proportionate consolidation of share of joint venture revenues and operating earnings	50.00%

Summary of Activity for Nonvested Restricted Shares (Detail) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Nonvested Restricted Stock at Beginning of Year	258,779	267,090	233,120
Number of Shares, Granted	111,230	113,414	179,377
Number of Shares, Vested	(147,678)	(116,507)	(136,280)
Number of Shares, Cancelled	(3,247)	(5,218)	(9,127)
Number of Shares, Nonvested Restricted Stock at End of Year	219,084	258,779	267,090
Weighted Average Grant Date Fair Value, Nonvested Restricted Stock at Beginning of Year	$ 85.34	$ 62.56	$ 75.35
Weighted Average Grant Date Fair Value, Granted	126.23	139.91	63.83
Weighted Average Grant Date Fair Value, Vested	104.33	87.47	78.89
Weighted Average Grant Date Fair Value, Cancelled	124.82	75.10	71.46
Weighted Average Grant Date Fair Value, Nonvested Restricted Stock at End of Year	$ 96.54	$ 85.34	$ 62.56

STOCK OPTION PLANS

12 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [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 2022, the Compensation Committee of the Board of Directors approved the granting to certain officers and key employees an aggregate of 25,192 performance-vesting stock options that would be earned only if certain performance conditions were satisfied (the Fiscal 2023 Employee Performance Stock Option Grant). The performance criterion for the Fiscal 2023 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, 2023. 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 be forfeited. During fiscal 2023, our adjusted return on equity exceeded 20.0%; therefore, all of the 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, 2024 through 2026. The Compensation Committee also approved the granting of 20,994 time-vesting stock options to the same officers and key employees, which vest ratably over a four-year period, with the first tranche vesting on March 31, 2023 and the remaining options vesting on March 31, 2024 through 2026 (the Fiscal 2023 Employee Time-Vesting Stock Option Grant). All of our stock options have a term of 10 years from the date of grant.

In August 2022, we granted 3,510 options to members of the Board of Directors (the Fiscal 2023 Board of Directors Stock Option Award). Options granted under the Fiscal 2023 Board of Directors Stock Option Award vest immediately and can be exercised from the grant date until their expiration on the tenth anniversary of the grant date.

All stock options issued during fiscal 2023 and 2022 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 2023 and 2022 are as follows:


	2023			2022
Dividend Yield		0.8	%		0.8	%
Expected Volatility		38.2	%		38.4	%
Risk-Free Interest Rate		2.90	%		1.00	%
Expected Life	6.0 years			6.0 years

Stock option expense for all outstanding stock option awards was approximately $3.4 million, 3.4 million, and $4.9 million for the years ended March 31, 2023, 2022, and 2021, respectively. At March 31, 2023, there was approximately $3.3 million of unrecognized compensation cost related to outstanding stock options, which is expected to be recognized over a weighted-average period of 2.3 years.

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


	For the Years Ended March 31,
	2023					2022					2021
	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		456,849		$	83.81		708,501		$	83.85		1,160,091		$	80.36
Granted		56,621		$	125.90		11,316		$	140.42		187,121		$	61.92
Exercised		(73,343	)	$	80.19		(247,578	)	$	86.97		(623,617	)	$	70.57
Cancelled		(3,178	)	$	109.15		(15,390	)	$	76.63		(15,094	)	$	92.51
Outstanding Options at End of Year		436,949		$	89.69		456,849		$	83.81		708,501		$	83.85
Options Exercisable at End of Year		339,043					314,624					416,817
Weighted-Average Fair Value of Options Granted During the Year				$	48.36				$	49.18				$	22.68

The following table summarizes information about stock options outstanding at March 31, 2023:


	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
$59.32 - $81.28		149,712		6.30	$	62.96		106,308	$	63.84
$87.37 - $93.03		138,656		5.80	$	91.56		137,664	$	91.57
$99.37 - $143.09		148,581		6.62	$	114.86		95,071	$	108.94
		436,949		6.25	$	89.69		339,043	$	87.74

At March 31, 2023, the aggregate intrinsic value for outstanding and exercisable options was approximately $24.9 million and $20.0 million, respectively. The total intrinsic value of options exercised during the fiscal years ended March 31, 2023, 2022, and 2021 was approximately $4.4 million, $15.7 million and $26.4 million, respectively.

Restricted Stock

In May 2022, the Compensation Committee approved the granting to certain officers and key employees an aggregate of 50,783 shares of performance vesting restricted stock that would be earned only if certain performance conditions were satisfied (the Fiscal 2023 Employee Restricted Stock Performance Award). The performance criterion for the Fiscal 2023 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, 2023. All restricted shares would be earned if the return on equity was 20.0% or greater, and the percentage of shares earned would 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 be forfeited. During fiscal 2023, the return on equity exceeded 20.0%; therefore all of the 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, 2024 through 2026. The Compensation Committee also approved the granting of 42,545 shares of time-vesting restricted stock to the same officers and key employees, which vest ratably over four years, with the first tranche vesting on March 31, 2023 and the remaining restricted shares vesting on March 31, 2024 through 2026 (the Fiscal 2023 Employee Restricted Stock Time-Vesting Award). Both of the Fiscal 2023 Employee Restricted Stock Performance Award and the Fiscal 2023 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 2022, we granted to members of the Board of Directors 14,482 shares of restricted stock (the Fiscal 2023 Board of Directors Restricted Stock Award), which vested six months after the grant date. The Fiscal 2023 Board of Directors Restricted Stock Award was valued at the closing price of the stock on the date of the grant and was 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, 2023, 2022, and 2021:


	For the Years Ended March 31,
	2023					2022					2021
	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		258,779		$	85.34		267,090		$	62.56		233,120		$	75.35
Granted		111,230		$	126.23		113,414		$	139.91		179,377		$	63.83
Vested		(147,678	)	$	104.33		(116,507	)	$	87.47		(136,280	)	$	78.89
Cancelled		(3,247	)	$	124.82		(5,218	)	$	75.10		(9,127	)	$	71.46
Nonvested Restricted Stock at End of Year		219,084		$	96.54		258,779		$	85.34		267,090		$	62.56

Expense related to restricted shares was $13.7 million, $10.9 million, and $10.4 million in fiscal years ended March 31, 2023, 2022, and 2021, respectively. At March 31, 2023, there were approximately 219,000 shares with remaining restrictions, for which $17.8 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 3,260,302 at March 31, 2023. Of the available shares, a total of 944,043 shares can be used for future restricted stock and restricted stock unit grants.

Fair Value of Financial Instruments (Detail) $ in Thousands	Mar. 31, 2023 USD ($)
2.500% Senior Unsecured Notes Due 2031 [Member]
Fair Value Of Financial Instruments [Line Items]
Fair Value of long term debt	$ 610,000

Stock Options Outstanding (Detail)	12 Months Ended
Stock Options Outstanding (Detail)	Mar. 31, 2023 $ / shares shares
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Options Outstanding, Number of Shares Outstanding \| shares	436,949
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	6 years 3 months
Options Outstanding, Weighted-Average Exercise Price	$ 89.69
Options Exercisable , Number of Shares Outstanding \| shares	339,043
Options Exercisable, Weighted-Average Exercise Price	$ 87.74
$59.32 - $81.28 [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	$ 81.28
Options Outstanding, Number of Shares Outstanding \| shares	149,712
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	6 years 3 months 18 days
Options Outstanding, Weighted-Average Exercise Price	$ 62.96
Options Exercisable , Number of Shares Outstanding \| shares	106,308
Options Exercisable, Weighted-Average Exercise Price	$ 63.84
$87.37 - $93.03 [Member]
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Range	87.37
Range of Exercise Prices, Upper Range	$ 93.03
Options Outstanding, Number of Shares Outstanding \| shares	138,656
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	5 years 9 months 18 days
Options Outstanding, Weighted-Average Exercise Price	$ 91.56
Options Exercisable , Number of Shares Outstanding \| shares	137,664
Options Exercisable, Weighted-Average Exercise Price	$ 91.57
$99.37 - $143.09 [Member]
Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range [Line Items]
Range of Exercise Prices, Lower Range	99.37
Range of Exercise Prices, Upper Range	$ 143.09
Options Outstanding, Number of Shares Outstanding \| shares	148,581
Options Outstanding, Weighted-Average Remaining Contractual Life (in years)	6 years 7 months 13 days
Options Outstanding, Weighted-Average Exercise Price	$ 114.86
Options Exercisable , Number of Shares Outstanding \| shares	95,071
Options Exercisable, Weighted-Average Exercise Price	$ 108.94

ACCRUED EXPENSES

12 Months Ended

Mar. 31, 2023

Payables and Accruals [Abstract]

ACCRUED EXPENSES

(E) Accrued Expenses

Accrued expenses consist of the following:


	March 31,
	2023		2022
	(dollars in thousands)
Payroll and Incentive Compensation	$	32,742	$	37,262
Benefits		16,130		14,894
Interest		7,163		5,052
Dividends		9,186		9,756
Property Taxes		6,671		6,514
Power and Fuel		3,051		2,877
Freight		1,663		1,172
Legal and Professional		1,691		989
Sales and Use Tax		1,452		1,509
Other		6,723		6,729
	$	86,472	$	86,754

Commitments and Contingencies - Additional Information (Detail)	12 Months Ended
	Mar. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Letters of credit outstanding, amount	$ 6,400,000
Contingently liable for performance, current	26,900,000
Outstanding guarantees	$ 0
Percentage of expected natural gas usage	40.00%

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2020	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Tax [Line Items]
Increase related to prior tax positions	$ 4.2
Accrued penalties on uncertain tax position		$ 0.0	$ 0.0	$ 0.0
State Income Tax [Member]
Income Tax [Line Items]
Net operating loss carryforwards		2.3	0.9
Income tax credit		$ 10.7	$ 4.3

INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2023

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,
	2023			2022		2021
	(dollars in thousands)
Current Provision
Federal	$	103,940		$	87,626	$	67,913
State		18,520			6,924		9,587
		122,460			94,550		77,500
Deferred Provision (Benefit)
Federal		11,321			3,491		7,207
State		(6,728	)		2,806		5,239
		4,593			6,297		12,446
Provision for Income Taxes	$	127,053		$	100,847	$	89,946

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,
	2023			2022			2021
	(dollars in thousands)
Earnings Before Income Taxes	$	588,593		$	475,094		$	424,112
Income Taxes at Statutory Rate	$	123,605		$	99,770		$	89,063
Increases (Decreases) in Tax Resulting from
State Income Taxes, net		16,821			12,743			11,713
Statutory Depletion in Excess of Cost		(8,253	)		(7,796	)		(5,263	)
Excess Tax Benefit from Stock Compensation		(1,593	)		(3,048	)		(3,229	)
Meals and Entertainment Disallowance		484			279			220
Limitation on Officer's Compensation		3,009			2,568			1,503
Valuation Allowance		(7,205	)		(4,556	)		300
Change in Reserves		—			—			(2,916	)
Other		185			887			(1,445	)
Provision for Income Taxes	$	127,053		$	100,847		$	89,946
Effective Tax Rate		22	%		21	%		21	%

Schedule of Components of Deferred Income Taxes

Components of deferred income taxes are as follows:


	March 31,
	2023			2022
	(dollars in thousands)
Items Giving Rise to Deferred Tax Liabilities
Excess Tax Depreciation and Amortization	$	(253,541	)	$	(242,335	)
Investment in Joint Venture Basis Differences		(8,744	)		(7,813	)
Depletable Assets		(3,876	)		(3,769	)
Right-of-Use Assets		(5,202	)		(5,897	)
Inventory		(406	)		(548	)
Other		(2,908	)		(3,506	)
Total Deferred Tax Liabilities	$	(274,677	)	$	(263,868	)
Items Giving Rise to Deferred Tax Assets
Change in Accruals	$	12,886		$	13,255
Bad Debts		1,662			1,600
Long-term Incentive Compensation Plan		3,515			3,252
Credits and Other Carryforwards		12,995			12,747
Lease Liability		7,647			8,849
Pension		1,128			1,001
Subtotal		39,833			40,704
Valuation Allowance		(2,000	)		(9,205	)
Total Deferred Tax Assets	$	37,833		$	31,499

Reconciliation of Consolidated Liability for Gross Unrecognized Tax Benefits

The change in unrecognized tax benefits for the years ended March 31, 2023, 2022, and 2021 was as follows:


	For the Years Ended March 31,
	2023		2022		2021
	(dollars in thousands)
Balance at Beginning of Year	$	1,284	$	1,284	$	4,200
Increase Related to Current Tax Positions		—		—		1,284
Decrease Related to Current Tax Positions		—		—		(4,200	)
Payments		—		—		—
	$	1,284	$	1,284	$	1,284

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Sale Of Business [Member]	Retained Earnings [Member]	Common Stock [Member]	AOCI Attributable to Parent [Member]	AOCI Attributable to Parent [Member] Sale Of Business [Member]	Additional Paid-in Capital [Member]
Beginning balance at Mar. 31, 2020	$ 967,843		$ 960,065	$ 416	$ (3,581)		$ 10,943
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		1,299,509	424	(3,440)		62,497
Net Earnings	374,247		374,247
Stock Option Exercises and Restricted Share Vesting	21,366			3			21,363
Purchase and Retirement of Common Stock	(589,742)		(496,886)	(40)			(92,816)
Dividends to Stockholders	(40,526)		(40,526)
Stock Compensation Expense	14,264						14,264
Shares Redeemed to Settle Employee Taxes	(5,308)						(5,308)
Unfunded Pension Liability, net of tax	265				265
Ending Balance at Mar. 31, 2022	1,133,556		1,136,344	387	(3,175)
Net Earnings	461,540		461,540
Stock Option Exercises and Restricted Share Vesting	5,418			2			5,416
Purchase and Retirement of Common Stock	(388,455)		(371,961)	(31)			(16,463)
Dividends to Stockholders	(37,040)		(37,040)
Stock Compensation Expense	17,155						17,155
Shares Redeemed to Settle Employee Taxes	(6,108)						$ (6,108)
Unfunded Pension Liability, net of tax	(372)				(372)
Ending Balance at Mar. 31, 2023	$ 1,185,694		$ 1,188,883	$ 358	$ (3,547)

- 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.

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+ Details

BUSINESS SEGMENTS (Tables)

12 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Financial Information Related to Operations by Segment

The following tables 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,
	2023			2022			2021
	(dollars in thousands)
Revenue
Cement	$	1,074,070		$	1,007,094		$	944,556
Concrete and Aggregates		239,516			177,122			168,829
Gypsum Wallboard		872,471			692,152			539,009
Paperboard		201,280			194,054			163,507
		2,387,337			2,070,422			1,815,901
Less: Intersegment Revenue		(125,750	)		(105,001	)		(88,068	)
Less: Joint Venture Revenue		(113,518	)		(103,899	)		(105,191	)
	$	2,148,069		$	1,861,522		$	1,622,642


	For the Years Ended March 31,
	2023		2022		2021
	(dollars in thousands)
Intersegment Revenue
Cement	$	32,915	$	22,915	$	20,862
Concrete and Aggregates		—		—		106
Paperboard		92,835		82,086		67,100
	$	125,750	$	105,001	$	88,068
Cement Sales Volume (M tons)
Wholly Owned		6,399		6,711		6,576
Joint Venture		734		823		890
		7,133		7,534		7,466


	For the Years Ended March 31,
	2023				2022			2021
				(dollars in thousands)
Operating Earnings
Cement	$	278,762			$	259,556		$	233,957
Concrete and Aggregates		18,259				18,467			19,054
Gypsum Wallboard		352,499				261,476			167,336
Paperboard		25,220				12,603			25,449
Sub-Total		674,740				552,102			445,796
Corporate General and Administrative Expense		(53,630	)			(46,801	)		(49,511	)
Loss on Early Retirement of Senior Notes		—				(8,407	)		—
Gain on Sale of Businesses		—				—			51,973
Other Nonoperating Income (Loss)		2,654				9,073			20,274
Earnings Before Interest and Income Taxes		623,764				505,967			468,532
Interest Expense, net		(35,171	)			(30,873	)		(44,420	)
Earnings Before Income Taxes	$	588,593			$	475,094		$	424,112
Cement Operating Earnings
Wholly Owned	$	243,288			$	227,068		$	196,516
Joint Venture		35,474				32,488			37,441
	$	278,762			$	259,556		$	233,957
Capital Expenditures
Cement	$	39,049			$	31,535		$	26,708
Concrete and Aggregates		35,503				5,239			3,114
Gypsum Wallboard		31,063				32,405			12,889
Paperboard		2,898				2,579			11,222
Corporate and Other		1,630				2,363			—
	$	110,143			$	74,121		$	53,933
Depreciation, Depletion, and Amortization
Cement	$	81,643			$	79,560		$	77,524
Concrete and Aggregates		17,413				9,656			10,807
Gypsum Wallboard		21,744				22,024			21,646
Paperboard		14,942				14,721			13,913
Corporate and Other		2,812				2,850			4,976
	$	138,554			$	128,811		$	128,866

Discontinued Operations
Capital Expenditures	$	—			$	—		$	—
Depreciation, Depletion, and Amortization	$	—			$	—		$	221


	March 31,
	2023		2022		2021
	(dollars in thousands)
Segment Assets
Cement	$	1,905,227	$	1,860,649	$	1,898,930
Concrete and Aggregates		234,767		89,405		88,410
Gypsum Wallboard		421,425		397,486		366,352
Paperboard		163,797		180,025		186,156
Corporate and Other, net		55,786		52,087		298,833
	$	2,781,002	$	2,579,652	$	2,838,681

Segment Breakdown of Goodwill

The segment breakdown of Goodwill at March 31, 2023 and 2022 is as follows:


	For the Years Ended March 31,
	2023		2022
	(dollars in thousands)
Cement	$	215,781	$	203,342
Concrete and Aggregates		40,774		1,639
Gypsum Wallboard		116,618		116,618
Paperboard		7,538		7,538
	$	380,711	$	329,137

Summarized Financial Information for Joint Venture Unconsolidated


	For the Years Ended March 31,
	2023		2022
	(dollars in thousands)
Revenue	$	227,565	$	209,937
Gross Margin	$	77,673	$	69,913
Earnings Before Income Taxes	$	71,491	$	65,541


	March 31,
	(dollars in thousands)
Current Assets	$	88,562	$	73,462
Noncurrent Assets	$	124,503	$	112,439
Current Liabilities	$	29,434	$	17,161

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

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+ Details

Business Segments - Segment Breakdown of Goodwill (Detail) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
Goodwill	$ 380,711	$ 329,137
Cement [Member]
Segment Reporting Information [Line Items]
Goodwill	215,781	203,342
Concrete and Aggregates [Member]
Segment Reporting Information [Line Items]
Goodwill	40,774	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

- Definition

+ References + Details

NET INTEREST EXPENSE

12 Months Ended

Mar. 31, 2023

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,
	2023			2022			2021
	(dollars in thousands)
Interest Income	$	(421	)	$	(39	)	$	(66	)
Interest Expense		33,706			21,637			40,624
Other Expenses		1,886			9,275			3,862
Interest Expense, net	$	35,171		$	30,873		$	44,420

Interest Income includes interest earned on investments of excess Cash and Cash Equivalents. Components of Interest Expense include interest associated with the Revolving Credit Facility, Term Loan (retired in July 2021), Senior Unsecured Notes, and commitment fees based on the unused portion of the Revolving Credit Facility. Other Expenses include amortization of debt issuance costs and Revolving Credit Facility and Term Loan costs.

SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

SIGNIFICANT ACCOUNTING POLICIES

(A) Significant Accounting Policies

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.

Accounts and Notes Receivable

Inventories


	March 31,
	2023		2022
	(dollars in thousands)
Raw Materials and Materials-in-Progress	$	96,880	$	81,308
Finished Cement		46,364		38,769
Aggregates		8,309		3,558
Gypsum Wallboard		4,244		3,452
Paperboard		8,651		7,462
Repair Parts and Supplies		112,885		91,593
Fuel and Coal		14,549		10,519
	$	291,882	$	236,661

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

Goodwill and Intangible Assets

Goodwill and Intangible Assets at March 31, 2023 and 2022, consist of the following:


	March 31, 2023
	Amortization Period	Cost		Additions		Accumulated Amortization			Net
	(dollars in thousands)
Goodwill and Intangible Assets:
Customer Contracts and Relationships	15 years	$	108,610	$	32,584	$	(75,413	)	$	65,781
Permits	25-40 years		30,410		350		(12,519	)		18,241
Trade Name	15 years		1,500		400		(590	)		1,310
Goodwill			329,137		51,574		—			380,711
Total Goodwill and Intangible Assets		$	469,657	$	84,908	$	(88,522	)	$	466,043


	March 31, 2022
	Amortization Period	Cost		Additions		Accumulated Amortization			Net
	(dollars in thousands)
Goodwill and Intangible Assets:
Customer Contracts and Relationships	15 years	$	108,610	$	—	$	(69,866	)	$	38,744
Permits	25-40 years		30,410		—		(11,629	)		18,781
Trade Name	15 years		1,500		—		(264	)		1,236
Goodwill			329,137		—		—			329,137
Total Goodwill and Intangible Assets		$	469,657	$	—	$	(81,759	)	$	387,898

Impairment or Disposal of Long-Lived and Intangible Assets

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

recorded as Revenue, while costs incurred for shipping and handling are recorded as expenses and included in Cost of Goods Sold.

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

Comprehensive Income/Losses

Consolidated Cash Flows – Supplemental Disclosures

Supplemental cash flow information is as follows:


	For the Years Ended March 31,
		2023		2022		2021
	(dollars in thousands)
Cash Payments:
Interest	$	31,596	$	21,298	$	42,343
Income Taxes		131,512		86,407		32,870
Operating Cash Flows Used for Operating Leases		8,314		8,141		10,741

Noncash Financing Activities:
Right-of-Use Assets Obtained for Capitalized Operating Leases	$	1,711	$	2,598	$	272
Excise Tax on Share Repurchases		738		—		—

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,
	2023		2022		2021
	(dollars in thousands)
Operating Units Selling, G&A	$	65,468	$	56,561	$	56,309
Corporate G&A		53,630		46,801		49,511
	$	119,098	$	103,362	$	105,820

Earnings per Share


	For the Years Ended March 31,
	2023			2022			2021
Weighted-Average Shares of Common Stock Outstanding		36,798,354			40,547,048			41,543,067
Effect of Dilutive Shares:
Assumed Exercise of Outstanding Dilutive Options		418,659			539,309			570,325
Less Shares Repurchased from Proceeds of Assumed Exercised Options		(290,590	)		(343,917	)		(429,815	)
Restricted Stock Units		126,519			187,272			143,132
Weighted-Average Common Stock and Dilutive Securities Outstanding		37,052,942			40,929,712			41,826,709

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

None.

PENDING ADOPTION

None.

Schedule of Lease Expense for Operating and Short-Term Leases (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Leases [Abstract]
Operating Lease Cost	$ 7,339	$ 6,543	$ 6,757
Short-term Lease Cost	593	1,261	2,562
Total Lease Cost	$ 7,932	$ 7,804	$ 9,319

Discontinued Operations and Other Dispositions - Additional Information (Detail) - USD ($) $ in Thousands, shares in Millions		12 Months Ended
	Sep. 18, 2020	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Gain on Sale of Businesses		$ 0	$ 0	$ 51,973
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				$ 9,230
Oil and Gas Proppants [Member] \| Discontinued Operations, Disposed of by Sale \| Smart Sand [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

INCOME TAXES

12 Months Ended

Mar. 31, 2023

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,
	2023			2022		2021
	(dollars in thousands)
Current Provision
Federal	$	103,940		$	87,626	$	67,913
State		18,520			6,924		9,587
		122,460			94,550		77,500
Deferred Provision (Benefit)
Federal		11,321			3,491		7,207
State		(6,728	)		2,806		5,239
		4,593			6,297		12,446
Provision for Income Taxes	$	127,053		$	100,847	$	89,946

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


	For the Years Ended March 31,
	2023			2022			2021
	(dollars in thousands)
Earnings Before Income Taxes	$	588,593		$	475,094		$	424,112
Income Taxes at Statutory Rate	$	123,605		$	99,770		$	89,063
Increases (Decreases) in Tax Resulting from
State Income Taxes, net		16,821			12,743			11,713
Statutory Depletion in Excess of Cost		(8,253	)		(7,796	)		(5,263	)
Excess Tax Benefit from Stock Compensation		(1,593	)		(3,048	)		(3,229	)
Meals and Entertainment Disallowance		484			279			220
Limitation on Officer's Compensation		3,009			2,568			1,503
Valuation Allowance		(7,205	)		(4,556	)		300
Change in Reserves		—			—			(2,916	)
Other		185			887			(1,445	)
Provision for Income Taxes	$	127,053		$	100,847		$	89,946
Effective Tax Rate		22	%		21	%		21	%

Components of deferred income taxes are as follows:


	March 31,
	2023			2022
	(dollars in thousands)
Items Giving Rise to Deferred Tax Liabilities
Excess Tax Depreciation and Amortization	$	(253,541	)	$	(242,335	)
Investment in Joint Venture Basis Differences		(8,744	)		(7,813	)
Depletable Assets		(3,876	)		(3,769	)
Right-of-Use Assets		(5,202	)		(5,897	)
Inventory		(406	)		(548	)
Other		(2,908	)		(3,506	)
Total Deferred Tax Liabilities	$	(274,677	)	$	(263,868	)
Items Giving Rise to Deferred Tax Assets
Change in Accruals	$	12,886		$	13,255
Bad Debts		1,662			1,600
Long-term Incentive Compensation Plan		3,515			3,252
Credits and Other Carryforwards		12,995			12,747
Lease Liability		7,647			8,849
Pension		1,128			1,001
Subtotal		39,833			40,704
Valuation Allowance		(2,000	)		(9,205	)
Total Deferred Tax Assets	$	37,833		$	31,499

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 $2.3 million at March 31, 2023, compared with $0.9 million at March 31, 2022, net of Valuation Allowance. We have state income tax credit carryforwards of $10.7 million at March 31, 2023, compared with $4.3 million at March 31, 2022, net of Valuation Allowances. 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, 2019 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 the 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, 2023, 2022, and 2021 was as follows:


	For the Years Ended March 31,
	2023		2022		2021
	(dollars in thousands)
Balance at Beginning of Year	$	1,284	$	1,284	$	4,200
Increase Related to Current Tax Positions		—		—		1,284
Decrease Related to Current Tax Positions		—		—		(4,200	)
Payments		—		—		—
	$	1,284	$	1,284	$	1,284

We recorded a $4.2 million reserve resulting from of a position taken 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, 2023, 2022, and 2021.

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
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-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

PENSION AND PROFIT SHARING PLANS (Tables)

12 Months Ended

Mar. 31, 2023

Retirement Benefits [Abstract]

Schedule of Reconciliation of Benefit Obligations and Fair Values of Plan Assets


	For the Years Ended March 31,
	2023			2022
	(dollars in thousands)
Reconciliation of Benefit Obligations
Benefit Obligation at April 1,	$	33,909		$	35,844
Interest Cost on Projected Benefit Obligation		1,240			1,167
Actuarial Gain		(4,509	)		(1,776	)
Benefits Paid		(1,451	)		(1,326	)
Benefit Obligation at March 31,	$	29,189		$	33,909
Reconciliation of Fair Value of Plan Assets
Fair Value of Plan Assets at April 1,	$	36,313		$	37,907
Actual Return on Plan Assets		(3,756	)		(268	)
Benefits Paid		(1,451	)		(1,326	)
Fair Value of Plan Assets at March 31,		31,106			36,313
Funded Status
Funded Status at March 31,	$	1,917		$	2,404
Amounts Recognized in the Balance Sheet Include:
Other Assets	$	1,917		$	2,404
Accumulated Other Comprehensive Losses:
Net Actuarial Loss		4,662			4,172
Accumulated Other Comprehensive Losses	$	4,662		$	4,172
Tax Impact		(1,115	)		(997	)
Accumulated Other Comprehensive Losses, net of tax	$	3,547		$	3,175

Components of Net Periodic Cost

Net periodic pension cost for the fiscal years ended March 31, 2023, 2022, and 2021, included the following components:


	For the Years Ended March 31,
	2023			2022			2021
	(dollars in thousands)
Interest Cost of Projected Benefit Obligation		1,240			1,167			1,216
Expected Return on Plan Assets		(1,366	)		(1,299	)		(1,419	)
Recognized Net Actuarial Loss		123			143			133
Net Periodic Pension Cost	$	(3	)	$	11		$	(70	)

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
2024	$	1,753
2025	$	1,842
2026	$	1,890
2027	$	1,964
2028	$	1,994
2029-2033	$	9,834

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,
	2023			2022			2021
Net Periodic Benefit Costs
Discount Rate		3.75	%		3.33	%		3.64	%
Expected Return on Plan Assets		3.85	%		3.50	%		4.00	%
Rate of Compensation Increase	n/a			n/a			n/a


	March 31,
		2023			2022
Benefit Obligations
Discount Rate		4.99	%		3.75	%
Rate of Compensation Increase	n/a			n/a

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

The pension plans’ approximate weighted-average asset allocation at March 31, 2023 and 2022, and the range of target allocation are as follows:


		Percentage of Plan Assets at March 31,
	Range of Target Allocation	2023			2022
Asset Category
Equity Securities	10 – 20%		9	%		9	%
Debt Securities	60 – 90%		89	%		90	%
Other	0 – 20%		2	%		1	%
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, 2023 and 2022 were as follows:


	March 31,
	2023		2022
	(dollars in thousands)
Equity Securities	$	2,878	$	3,433
Fixed Income Securities		27,811		32,583
Real Estate Funds		—		115
Cash Equivalents		417		182
Total	$	31,106	$	36,313

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, 2023 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	$	—	$	2,878	$	—	$	2,878
Fixed Income Securities		—		27,811		—		27,811
Cash Equivalents		417		—		—		417
	$	417	$	30,689	$	—	$	31,106

The fair values by category of inputs as of March 31, 2022 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	$	—	$	3,433	$	—	$	3,433
Fixed Income Securities		—		32,583		—		32,583
Real Estate Funds		—		115		—		115
Cash Equivalents		182		—		—		182
	$	182	$	36,131	$	—	$	36,313

Schedule of Effective Tax Rates Vary from Federal Statutory Rates (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Earnings Before Income Taxes	$ 588,593	$ 475,094	$ 424,112
Income Taxes at Statutory Rate	123,605	99,770	89,063
State Income Taxes, net	16,821	12,743	11,713
Statutory Depletion in Excess of Cost	(8,253)	(7,796)	(5,263)
Excess Tax Benefit from Stock Compensation	(1,593)	(3,048)	(3,229)
Meals and Entertainment Disallowance	484	279	220
Limitation on Officers' Compensation	3,009	2,568	1,503
Valuation Allowance	(7,205)	(4,556)	300
Change in Reserves	0	0	(2,916)
Other	185	887	(1,445)
Provision for Income Taxes	$ 127,053	$ 100,847	$ 89,946
Effective Tax Rate	22.00%	21.00%	21.00%

ACQUISITIONS (Tables)

12 Months Ended

Mar. 31, 2023

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the allocation of the Purchase Price to assets acquired and liabilities assumed:


	(dollars in thousands)
Working Capital	$	10,780
Property, Plant, and Equipment		39,489
Intangible Assets		30,750
Goodwill		39,135
Total Purchase Price	$	120,154

Schedule of Revenue and Operating Earnings Related to Business Acquisition


	For the Year Ended March 31,
	2023
	(dollars in thousands)
Revenue	$	44,546
Operating Earnings	$	1,615

Terminal Acquisition [Member]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes allocation of the Terminal Acquisition purchase price to the assets acquired and liabilities assumed:


	(dollars in thousands)
Working Capital	$	1,116
Property, Plant, and Equipment		23,301
Intangible Assets		2,589
Goodwill		12,439
Total Purchase Price	$	39,445

All Goodwill generated by the ConAgg and Terminal Acquisitions is deductible for income tax purposes.

Subsequent Acquisition

Schedule of Earnings Per Share (Detail) - shares	12 Months Ended
Schedule of Earnings Per Share (Detail) - shares	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Weighted-Average Shares of Common Stock Outstanding	36,798,354	40,547,048	41,543,067
Assumed Exercise of Outstanding Dilutive Options	418,659	539,309	570,325
Less Shares Repurchased from Proceeds of Assumed Exercised Options	(290,590)	(343,917)	(429,815)
Restricted Stock Units	126,519	187,272	143,132
Weighted-Average Common Stock and Dilutive Securities Outstanding	37,052,942	40,929,712	41,826,709

- 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 https://asc.fasb.org/extlink&oid=126958026&loc=d3e2603-109256

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e2062-109256

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e1828-109256

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-Publisher FASB
-Name Accounting Standards Codification
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-Section 45
-Paragraph 53
-URI https://asc.fasb.org/extlink&oid=126958026&loc=d3e2600-109256

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
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+ Details