Deferred Tax Assets and Liabilities (Table Text Block)

12 Months Ended

Mar. 31, 2013

Components of Deferred Tax Assets and Liabilities

Significant components of our deferred tax assets and liabilities were as follows:

		March 31,
		2013		2012
		(In thousands)
Deferred tax assets:
Net operating loss and credit carry forwards	$	2,007	$	3,080
Accrued expenses		153,807		126,361
Policy benefit and losses, claims and loss expenses payable, net		24,137		15,493
Unrealized losses		-		6,649
Other		454		-
Total deferred tax assets	$	180,405	$	151,583

Deferred tax liabilities:
Property, plant and equipment	$	552,548	$	519,409
Deferred policy acquisition costs		12,270		2,838
Unrealized gains		9,245		-
Other		-		328
Total deferred tax liabilities		574,063		522,575
Net deferred tax liability	$	393,658	$	370,992

The net operating loss and credit carry-forwards in the above table are primarily attributable to $14.7 million of state net operating losses that will begin to expire March 31, 2014 if not utilized.