Note H - Derivative Financial Instruments (Tables)

3 Months Ended

Jun. 30, 2021

Notes Tables

Schedule of Derivative Instruments [Table Text Block]

	Asset Derivatives			Liability Derivatives
	Balance Sheet			Balance Sheet
Derivatives designated as cash flow hedges:	Location	Fair Value		Location	Fair Value
Hot-rolled coil steel contracts hedging purchases	Other current assets	$	1,686,400
Hot-rolled coil steel contracts hedging sales	Other current assets	$	200	Current portion of derivative liability	$	24,572,920
Hot-rolled coil steel contracts hedging sales				Other non-current liabilities	$	1,127,600
Derivatives not designated as hedging instruments:
Hot-rolled coil steel contracts	Other current assets	$	500	Current portion of derivative liability	$	2,953,960

	Asset Derivatives			Liability Derivatives
	Balance Sheet			Balance Sheet
Derivatives designated as cash flow hedges:	Location	Fair Value		Location	Fair Value
Hot-rolled coil steel contracts hedging purchases	Other current assets	$	530,640
Hot-rolled coil steel contracts hedging sales	Other current assets	$	91,760	Current portion of derivative liability	$	7,890,700
Hot-rolled coil steel contracts hedging sales				Other non-current liabilities	$	50,420
Derivatives not designated as hedging instruments:
Hot-rolled coil steel contracts				Current portion of derivative liability	$	88,680

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block]

	Pre-Tax Loss			Location of Gain (Loss) Reclassified	Pre-Tax Gain (Loss) Reclassified from
	Recognized in AOCI			from AOCI into Net Earnings	AOCI into Net Earnings
Hot-rolled coil steel contracts	$	(32,807,460	)	Sales	$	(5,098,020	)
				Costs of goods sold		1,582,200
Total	$	(32,807,460	)		$	(3,515,820	)

Not Designated as Hedging Instrument [Member]

Notes Tables

Derivative Instruments, Gain (Loss) [Table Text Block]

		Loss Recognized in Earnings
	Location of Loss	for Quarter Ended
	Recognized in Earnings	June 30, 2021
Hot-rolled coil steel contracts	Other income, net	$	(1,388,960	)

Accumulated Gain (Loss), Net, Cash Flow Hedge, Parent [Member]

Notes Tables

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

	Gain (Loss) on
	Derivatives
Balance at March 31, 2021	$	(11,187,841	)
Other comprehensive loss, net of income, before reclassification		(16,359,735	)
Total loss reclassified from AOCI (1)		2,666,398
Net current period other comprehensive loss		(13,693,337	)
Balance at June 30, 2021	$	(24,881,178	)