Provision for Taxes (Table Text Block)

12 Months Ended

Mar. 31, 2018

Table Text Block [Abstract]

Provision For Taxes

		Years Ended March 31,
		2018		2017		2016
		(In thousands)
Pretax earnings:
U.S.	$	628,901	$	609,589	$	745,194
Non-U.S.		8,712		18,769		23,717
Total pretax earnings	$	637,613	$	628,358	$	768,911
Current provision
Federal	$	21,780	$	38,723	$	118,974
State		6,471		10,818		15,988
Non-U.S.		1,412		3,334		3,303
		29,663		52,875		138,265
Deferred provision (benefit)
Federal		(199,415)		160,527		125,950
State		15,479		15,210		12,561
Non-U.S.		1,303		1,322		3,134
		(182,633)		177,059		141,645
Provision for income tax expense (benefit)	$	(152,970)	$	229,934	$	279,910
Income taxes paid (net of income tax refunds received)	$	68,671	$	36,880	$	141,901

Schedule of Effective Income Tax Rate Reconciliation

	Years Ended March 31,
	2018	2017	2016
Statutory federal income tax rate	31.55%	35.00%	35.00%
Increase (reduction) in rate resulting from:
Deferred tax liability revaluation	(58.25%)	0.00%	0.00%
State taxes, net of federal benefit	2.33%	2.66%	2.34%
Foreign rate differential	0.00%	(0.31%)	(0.24%)
Federal tax credits	(0.32%)	(0.41%)	(0.19%)
Transition tax	1.83%	0.00%	0.00%
Dividend received deduction	(0.03%)	(0.03%)	(0.02%)
Phase III tax	0.63%	0.00%	0.00%
Other	(1.73%)	(0.32%)	(0.49%)
Actual tax expense (benefit) of operations	(23.99%)	36.59%	36.40%

Components of Deferred Tax Assets and Liabilities

		March 31,
		2018		2017
		(In thousands)
Deferred tax assets:
Net operating loss and credit carry forwards	$	3,136	$	1,948
Accrued expenses		104,309		168,331
Policy benefit and losses, claims and loss expenses payable, net		11,148		21,287
Total deferred tax assets	$	118,593	$	191,566
Deferred tax liabilities:
Property, plant and equipment	$	741,607	$	986,334
Deferred policy acquisition costs		12,995		20,901
Unrealized gains		18,863		19,140
Other		3,236		200
Total deferred tax liabilities		776,701		1,026,575
Net deferred tax liability	$	658,108	$	835,009

Reconciliation of Total Amounts of Unrecognized Tax Benefits

		Unrecognized Tax Benefits
		March 31,
		2018		2017
		(In thousands)
Unrecognized tax benefits beginning balance	$	26,720	$	23,912
Revaluation based on change in after tax benefit		5,755		–
Additions based on tax positions related to the current year		4,139		2,964
Reductions for tax positions of prior years		(96)		(156)
Settlements		(779)		–
Unrecognized tax benefits ending balance	$	35,739	$	26,720