Income Tax (tables)

12 Months Ended

Mar. 31, 2015

Income Tax Disclosure [Abstract]

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

6. Income Taxes
The Company files a consolidated federal and various state income tax returns. The provision for income taxes is as follows:
		2015		2014		2013
		(In thousands)
Current:
Federal	$	4,380	$	7,238	$	21,356
State		453		123		3,629
		4,833		7,361		24,985
Deferred:
Federal		(925)		(3,231)		(2,770)
State		313		(567)		(180)
		(612)		(3,798)		(2,950)
Total income taxes	$	4,221	$	3,563	$	22,035

A reconciliation of the expected U.S. statutory rate to the effective rate follows:
	2015		2014		2013
Computed (expected tax rate)	35.0	%	35.0	%	35.0	%
State income taxes (net of federal tax benefit)	2.9		3.4		3.8
State tax credits	(8.7)		(1.6)		(0.8)
Federal credits	(2.4)		(3.6)		(0.2)
Manufacturer’s deduction	(5.0)		(4.6)		(3.4)
(Reversal of) addition to uncertain tax positions	(1.0)		(0.8)		0.2
State VDA/Nexus Changes	-		(1.7)		-
Other permanent differences not deductible	0.7		0.5		0.1
Change in valuation allowance	9.9		(2.1)		-
Tax effect of pension contribution	-		0.4		-
Other	(1.5)		(4.4)		-
Effective income tax rate	29.9	%	20.5	%	34.7	%

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

		2015		2014
		(In thousands)
Deferred income tax assets:
Future tax credits	$	4,021	$	3,042
Inventory valuation		2,348		3,353
Employee benefits		3,009		2,884
Insurance		816		1,244
Other comprehensive loss		20,335		7,194
Interest		46		138
Deferred gain on sale/leaseback		-		26
Prepaid revenue		701		1,118
Other		1,364		859
Pension		1,372		-
Severance		256		87
		34,268		19,945
Deferred income tax liabilities:
Property basis and depreciation difference		9,129		10,757
481(a) adjustment		1,281		-
Earnings from equity investment		245		-
Pension		-		725
		10,655		11,482
Valuation allowance - non-current		1,787		390
Net deferred income tax asset	$	21,826	$	8,073

Summary of Income Tax Contingencies [Table Text Block]

		2015		2014
		(In thousands)
Beginning balance	$	2,273	$	2,470
Tax positions related to current year:
Additions		13		46
Tax positions related to prior years:
Reductions		(1,822)		(181)
Lapses in statues of limitations		-		(62)
Balance as of March 31,	$	464	$	2,273