Income Tax (tables)

12 Months Ended

Mar. 31, 2016

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:
		2016		2015		2014
		(In thousands)
Current:
Federal	$	24,579	$	4,380	$	7,238
State		1,953		453		123
		26,532		4,833		7,361
Deferred:
Federal		(689)		(925)		(3,231)
State		156		313		(567)
		(533)		(612)		(3,798)
Total income taxes	$	25,999	$	4,221	$	3,563

A reconciliation of the expected U.S. statutory rate to the effective rate follows:
	2016		2015		2014
Computed (expected tax rate)	35.0	%	35.0	%	35.0	%
State income taxes (net of federal tax benefit)	2.7		2.9		3.4
State tax credits	(0.9)		(8.7)		(1.6)
Federal credits	(0.4)		(2.4)		(3.6)
Manufacturer’s deduction	(3.9)		(5.0)		(4.6)
(Reversal of) addition to uncertain tax positions	0.2		(1.0)		(0.8)
State VDA/Nexus Changes	-		-		(1.7)
Other permanent differences not deductible	(0.2)		0.7		0.5
Change in valuation allowance	0.1		9.9		(2.1)
Tax effect of pension contribution	-		-		0.4
Other	(0.3)		(1.5)		(4.4)
Effective income tax rate	32.3	%	29.9	%	20.5	%

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

		2016		2015
		(In thousands)
Deferred income tax assets:
Future tax credits	$	3,807	$	4,021
Inventory valuation		-		2,348
Employee benefits		3,174		3,009
Insurance		881		816
Other comprehensive loss		18,154		20,335
Interest		21		46
Prepaid revenue		571		701
Other		2,804		1,364
Pension		-		1,372
Severance		3		256
		29,415		34,268
Deferred income tax liabilities:
Property basis and depreciation difference		9,330		9,129
481(a) adjustment		880		1,281
Inventory valuation		1,247		-
Intangibles		235		-
Earnings from equity investment		69		245
Pension		2,896		-
		14,657		10,655
Valuation allowance - non-current		1,861		1,787
Net deferred income tax asset	$	12,897	$	21,826

Summary of Income Tax Contingencies [Table Text Block]

		2016		2015
		(In thousands)
Beginning balance	$	464	$	2,273
Tax positions related to current year:
Additions		291		13
Tax positions related to prior years:
Additions		241		-
Reductions		(7)		(1,822)
Settlements		(166)		-
Lapses in statues of limitations		(129)		-
Balance as of March 31,	$	694	$	464