Note 8 - Income Taxes (Tables)

12 Months Ended

Mar. 31, 2021

Notes Tables

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

	2021		2020
	(In thousands)
Current:
Federal	$	13,121	$	(1,912	)
State		4,145		1,187
Total		17,266		(725	)
Deferred:
Federal	$	13,486	$	14,251
State		3,164		1,278
Total		16,650		15,529
Total income taxes (1)	$	33,916	$	14,804

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

	2021			2020
Computed (expected tax rate)		21.0	%		21.0	%
State income taxes (net of federal tax benefit)		3.1			2.8
Federal credits		(0.3	)		(0.8	)
Addition/(reduction) to uncertain tax positions		(0.1	)		0.3
Other permanent differences not deductible		-			0.2
Change in valuation allowance		0.2			0.7
Tax law change		-			(2.8	)
Federal NOL carryback rate difference		(2.8	)		-
Other		0.1			0.6
Effective income tax rate		21.2	%		22.0	%

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

	2021			2020
	(In thousands)
Deferred income tax assets:
Future tax credits	$	5,884		$	5,581
Inventory valuation		2,204			163
Restructuring reserve		-			220
Employee benefits		2,063			2,219
Insurance		685			616
Other comprehensive loss		6,511			26,562
Interest		4			24
Prepaid revenue		463			565
Other		815			186
Equity investment basis difference		1,589			-
Net operating loss and other tax attribute carryovers		85			2,233
Total assets		20,303			38,369
Deferred income tax liabilities:
Property basis and depreciation difference		17,975			12,664
Intangibles		33			208
Equity investment basis difference		-			1,239
Right of use assets		4,371			4,373
Pension		21,556			7,540
Total liabilities		43,935			26,024
Valuation allowance - non-current		4,674			4,473
Net deferred income tax (liability)/asset	$	(28,306	)	$	7,872

Summary of Income Tax Contingencies [Table Text Block]

	2021			2020
	(In thousands)
Beginning balance	$	2,065		$	396
Tax positions related to current year:
Additions		279			1,123
Tax positions related to prior years:
Additions		34			569
Reductions		(1,626	)		(16	)
Lapses in statues of limitations		(376	)		(7	)
Balance as of March 31,	$	376		$	2,065