Summary by Business Segment

9 Months Ended

Dec. 31, 2012

Segment Reporting, Measurement Disclosures [Abstract]

Summary by Business Segment

SUMMARY BY BUSINESS SEGMENT

Business segment information for the Company’s Distribution and All Other Operations business segments is presented below for the three and nine months ended December 31, 2012 and 2011. Business segment operating results for the prior periods were adjusted for the retrospective application of the LIFO-to-average-cost change in accounting principle implemented during the year ended March 31, 2012. Although corporate operating expenses are generally allocated to each business segment based on sales dollars, the Company reports expenses (excluding depreciation) related to the implementation of its SAP system and the Company’s withdrawal from various multi-employer pension plans under selling, distribution and administrative expenses in the “Eliminations and Other” column below. Additionally, the Company’s net restructuring and other special charges (benefits) and the legal, professional and other costs (benefits) incurred as a result of the Air Products & Chemicals, Inc. (“Air Products”) unsolicited takeover attempt are not allocated to the Company’s business segments. These costs (benefits) are also reflected in the “Eliminations and Other” column below. Intercompany sales are recorded on the same basis as sales to third parties and intercompany transactions are eliminated in consolidation. Management utilizes more than one measurement and multiple views of data to measure segment performance and to allocate resources to the segments. However, the predominant measurements are consistent with the Company’s consolidated financial statements and accordingly, are reported on the same basis below.

	Three Months Ended										Three Months Ended
	December 31, 2012										December 31, 2011
(In thousands)	Distribution		All Other Ops.		Eliminations and Other			Total			Distribution		All Other Ops.		Eliminations and Other			Total
Gas and rent	$	642,884	$	138,152	$	(8,062	)	$	772,974		$	611,005	$	119,409	$	(8,959	)	$	721,455
Hardgoods	433,218		1,518		(2		)	434,734			430,724		1,578		(6		)	432,296
Total net sales (a)	1,076,102		139,670		(8,064		)	1,207,708			1,041,729		120,987		(8,965		)	1,153,751
Cost of products sold (excluding depreciation) (a)	461,917		73,599		(8,064		)	527,452			467,592		61,782		(8,965		)	520,409
Selling, distribution and administrative expenses	408,704		44,866		8,718			462,288			379,894		40,002		13,154			433,050
Restructuring and other special charges (benefits), net	—		—		(1,729		)	(1,729		)	—		—		2,431			2,431
Costs (benefits) related to unsolicited takeover attempt	—		—		—			—			—		—		(1,170		)	(1,170		)
Depreciation	60,372		5,432		—			65,804			56,695		4,880		—			61,575
Amortization	5,384		1,230		—			6,614			5,171		1,266		—			6,437
Operating income	$	139,725	$	14,543	$	(6,989	)	$	147,279		$	132,377	$	13,057	$	(14,415	)	$	131,019
	Nine Months Ended										Nine Months Ended
	December 31, 2012										December 31, 2011
(In thousands)	Distribution		All Other Ops.		Eliminations and Other			Total			Distribution		All Other Ops.		Eliminations and Other			Total
Gas and rent	$	1,914,092	$	444,371	$	(26,370	)	$	2,332,093		$	1,827,302	$	404,554	$	(28,584	)	$	2,203,272
Hardgoods	1,357,502		4,984		(5		)	1,362,481			1,297,343		4,533		(14		)	1,301,862
Total net sales (a)	3,271,594		449,355		(26,375		)	3,694,574			3,124,645		409,087		(28,598		)	3,505,134
Cost of products sold (excluding depreciation) (a)	1,441,482		233,396		(26,375		)	1,648,503			1,413,164		218,716		(28,598		)	1,603,282
Selling, distribution and administrative expenses	1,222,697		130,749		27,274			1,380,720			1,131,263		120,258		28,412			1,279,933
Restructuring and other special charges (benefits), net	—		—		6,426			6,426			—		—		18,261			18,261
Costs (benefits) related to unsolicited takeover attempt	—		—		—			—			—		—		(7,870		)	(7,870		)
Depreciation	178,759		16,061		—			194,820			168,026		14,198		—			182,224
Amortization	16,171		3,779		—			19,950			15,075		3,766		—			18,841
Operating income	$	412,485	$	65,370	$	(33,700	)	$	444,155		$	397,117	$	52,149	$	(38,803	)	$	410,463

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^(a) Amounts in the “Eliminations and Other” column represent the elimination of intercompany sales and associated gross profit on sales from the Company’s All Other Operations business segment to its Distribution business segment.