Provision for Taxes (Table Text Block)

12 Months Ended

Mar. 31, 2019

Table Text Block [Abstract]

Provision For Taxes

		Years Ended March 31,
		2019		2018		2017
		(In thousands)
Pretax earnings:
U.S.	$	466,175	$	628,901	$	609,589
Non-U.S.		11,354		8,712		18,769
Total pretax earnings	$	477,529	$	637,613	$	628,358
Current provision (benefit)
Federal	$	(6,114)	$	21,780	$	38,723
State		3,420		6,471		10,818
Non-U.S.		1,375		1,412		3,334
		(1,319)		29,663		52,875
Deferred provision (benefit)
Federal		94,961		(199,415)		160,527
State		11,311		15,479		15,210
Non-U.S.		1,719		1,303		1,322
		107,991		(182,633)		177,059
Provision for income tax expense (benefit)	$	106,672	$	(152,970)	$	229,934
Income taxes paid (net of income tax refunds received)	$	4,255	$	68,671	$	36,880

Schedule of Effective Income Tax Rate Reconciliation

	Years Ended March 31,
	2019	2018	2017
Statutory federal income tax rate	21.00%	31.55%	35.00%
Increase (reduction) in rate resulting from:
Deferred tax liability revaluation	0.00%	(58.25)%	0.00%
State taxes, net of federal benefit	2.41%	2.33%	2.66%
Foreign rate differential	0.15%	0.00%	(0.31)%
Federal tax credits	(0.15)%	(0.32)%	(0.41)%
Transition tax	(0.20)%	1.83%	0.00%
Dividend received deduction	(0.01)%	(0.03)%	(0.03)%
Phase III tax	0.00%	0.63%	0.00%
Other	(0.86)%	(1.73)%	(0.32)%
Actual tax expense (benefit) of operations	22.34%	(23.99)%	36.59%

Components of Deferred Tax Assets and Liabilities

		March 31,
		2019		2018
		(In thousands)
Deferred tax assets:
Net operating loss and credit carry forwards	$	90,061	$	3,136
Accrued expenses		105,727		104,309
Policy benefit and losses, claims and loss expenses payable, net		16,515		11,148
Total deferred tax assets	$	212,303	$	118,593
Deferred tax liabilities:
Property, plant and equipment	$	940,433	$	741,607
Deferred policy acquisition costs		14,191		12,995
Unrealized gains		4,223		18,863
Other		4,426		3,236
Total deferred tax liabilities		963,273		776,701
Net deferred tax liability	$	750,970	$	658,108

Reconciliation of Total Amounts of Unrecognized Tax Benefits

		Unrecognized Tax Benefits
		March 31,
		2019		2018
		(In thousands)
Unrecognized tax benefits beginning balance	$	35,739	$	26,720
Revaluation based on change in after tax benefit		–		5,755
Additions based on tax positions related to the current year		1,887		4,139
Reductions for tax positions of prior years		(46)		(96)
Settlements		(379)		(779)
Unrecognized tax benefits ending balance	$	37,201	$	35,739