Note 8 - Income Taxes (Tables)

12 Months Ended

Mar. 31, 2020

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	2020			2019
	(In thousands)
Current:
Federal	$	(1,912	)	$	(283	)
State		1,187			93
Total		(725	)		(190	)
Deferred:
Federal	$	14,251		$	1,220
State		1,278			(310	)
Total		15,529			910
Total income taxes (1)	$	14,804		$	720

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

	2020			2019
Computed (expected tax rate)		21.0	%		21.0	%
State income taxes (net of federal tax benefit)		3.6			3.2
State tax credits		(0.8	)		0.7
Federal credits		(0.8	)		1.0
Addition to uncertain tax positions		0.3			1.0
Other permanent differences not deductible		0.2			(0.2	)
Change in valuation allowance		0.7			(0.2	)
Tax law change		(2.8	)		-
Other		0.6			(0.6	)
Effective income tax rate		22.0	%		25.9	%

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

	2020		2019
	(In thousands)
Deferred income tax assets:
Future tax credits	$	5,581	$	5,124
Inventory valuation		163		-
Restructuring reserve		220		1,071
Employee benefits		2,219		2,030
Insurance		616		312
Other comprehensive loss		26,562		6,250
Interest		24		12
Future federal tax credits		-		654
Prepaid revenue		565		528
Other		186		298
Net operating loss and other tax attribute carryovers		2,233		5,628
Total assets		38,369		21,907
Deferred income tax liabilities:
Property basis and depreciation difference		12,664		13,049
Inventory valuation		-		534
Intangibles		208		286
Income from equity investment		1,239		-
Right of use assets		4,373		-
Pension		7,540		1,633
Total liabilities		26,024		15,502
Valuation allowance - non-current		4,473		3,988
Net deferred income tax asset	$	7,872	$	2,417

Summary of Income Tax Contingencies [Table Text Block]

	2020			2019
	(In thousands)
Beginning balance	$	396		$	855
Tax positions related to current year:
Additions		1,123			26
Tax positions related to prior years:
Additions		569			-
Reductions		(16	)		(2	)
Lapses in statues of limitations		(7	)		(483	)
Balance as of March 31,	$	2,065		$	396