Provision for Taxes (Table Text Block)

12 Months Ended

Mar. 31, 2017

Table Text Block [Abstract]

Provision For Taxes

		Years Ended March 31,
		2017		2016		2015
		(In thousands)
Pretax earnings:
U.S.	$	609,589	$	745,194	$	541,371
Non-U.S.		18,769		23,717		20,047
Total pretax earnings	$	628,358	$	768,911	$	561,418
Current provision (benefit)
Federal	$	38,723	$	118,974	$	112,634
State		10,818		15,988		14,248
Non-U.S.		3,334		3,303		2,599
		52,875		138,265		129,481
Deferred provision (benefit)
Federal		160,527		125,950		67,306
State		15,210		12,561		5,256
Non-U.S.		1,322		3,134		2,634
		177,059		141,645		75,196
Provision for income tax expense	$	229,934	$	279,910	$	204,677
Income taxes paid (net of income tax refunds received)	$	36,880	$	141,901	$	195,072

Schedule of Effective Income Tax Rate Reconciliation

	Years Ended March 31,
	2017	2016	2015
Statutory federal income tax rate	35.00%	35.00%	35.00%
Increase (reduction) in rate resulting from:
State taxes, net of federal benefit	2.66%	2.34%	2.21%
Foreign rate differential	(0.31)%	(0.24)%	(0.32)%
Federal tax credits	(0.41)%	(0.19)%	(0.29)%
Dividend received deduction	(0.03)%	(0.02)%	(0.03)%
Other	(0.32)%	(0.49)%	(0.11)%
Actual tax expense of operations	36.59%	36.40%	36.46%

Components of Deferred Tax Assets and Liabilities

		March 31,
		2017		2016
		(In thousands)
Deferred tax assets:
Net operating loss and credit carry forwards	$	1,948	$	1,462
Accrued expenses		168,331		185,088
Policy benefit and losses, claims and loss expenses payable, net		21,287		21,911
Unrealized losses		–		–
Total deferred tax assets	$	191,566	$	208,461
Deferred tax liabilities:
Property, plant and equipment	$	986,334	$	831,914
Deferred policy acquisition costs		20,901		20,557
Unrealized gains		19,140		9,593
Other		200		9
Total deferred tax liabilities		1,026,575		862,073
Net deferred tax liability	$	835,009	$	653,612

Reconciliation of Total Amounts of Unrecognized Tax Benefits

		Unrecognized Tax Benefits
		March 31,
		2017		2016
		(In thousands)
Unrecognized tax benefits beginning balance	$	23,912	$	19,929
Additions based on tax positions related to the current year		2,964		4,313
Reductions for tax positions of prior years		(156)		(327)
Settlements		–		(3)
Unrecognized tax benefits ending balance	$	26,720	$	23,912