Note 9 - Income Taxes (Tables)

12 Months Ended

Mar. 31, 2022

Notes Tables

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

	Fiscal Year:
	2022		2021
Current:
Federal	$	4,780	$	13,121
State		3,383		4,145
Total		8,163		17,266
Deferred:
Federal	$	7,017	$	13,486
State		44		3,164
Total		7,061		16,650
Total income taxes	$	15,224	$	33,916

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

	Fiscal Year:
	2022			2021
Computed (expected tax rate)		21.0	%		21.0	%
State income taxes (net of federal tax benefit)		3.7	%		3.1	%
Federal credits		-0.8	%		-0.3	%
Reduction to uncertain tax positions		0.0	%		-0.1	%
Permanent differences		0.1	%		0.0	%
State credit expiration		0.9	%		0.0	%
Change in valuation allowance		-1.1	%		0.2	%
Federal return to accrual		-0.9	%		0.0	%
Federal net operating loss (NOL) carryback rate difference		0.0	%		-2.8	%
Interest received on federal NOL carryback		-0.3	%		-0.2	%
Other		0.4	%		0.3	%
Effective income tax rate		23.0	%		21.2	%

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

	As of:
	March 31,			March 31,
	2022			2021
Deferred income tax assets:
Future tax credits	$	5,244		$	5,884
Inventory valuation		3,098			2,204
Employee benefits		2,191			2,063
Insurance		345			685
Other comprehensive loss		8,975			6,511
Interest		3			4
Prepaid revenue		374			463
Net operating loss and other tax attribute carryovers		610			85
Equity investment basis difference		-			1,589
Other		-			815
Total assets		20,840			20,303
Deferred income tax liabilities:
Property basis and depreciation difference		21,807			17,975
Intangibles		17			33
Right of use assets		5,764			4,371
Pension		21,253			21,556
Other		1,012			-
Total liabilities		49,853			43,935
Valuation allowance - noncurrent		3,931			4,674
Net deferred income tax liability	$	(32,944	)	$	(28,306	)

Summary of Income Tax Contingencies [Table Text Block]

	As of:
	March 31,			March 31,
	2022			2021
Beginning balance	$	376		$	2,065
Tax positions related to current year:
Additions		160			279
Tax positions related to prior years:
Additions		215			34
Reductions		-			(1,626	)
Lapses in statues of limitations		(75	)		(376	)
Balance as of March 31,	$	676		$	376