INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Components of Provision for Income Taxes

The provision for income taxes from continuing operations includes the following components:

	For the Years Ended March 31,
	2024		2023			2022
	(dollars in thousands)
Current Provision
Federal	$	111,690	$	103,940		$	87,626
State		20,689		18,520			6,924
		132,379		122,460			94,550
Deferred Provision (Benefit)
Federal		5,607		11,321			3,491
State		2,312		(6,728	)		2,806
		7,919		4,593			6,297
Provision for Income Taxes	$	140,298	$	127,053		$	100,847

Schedule of Effective Tax Rates Vary from Federal Statutory Rates

The effective tax rates vary from the federal statutory rates due to the following items:

	For the Years Ended March 31,
	2024			2023			2022
	(dollars in thousands)
Earnings Before Income Taxes	$	617,937		$	588,593		$	475,094
Income Taxes at Statutory Rate	$	129,766		$	123,605		$	99,770
Increases (Decreases) in Tax Resulting from
State Income Taxes, net		18,172			16,821			12,743
Statutory Depletion in Excess of Cost		(9,883	)		(8,253	)		(7,796	)
Excess Tax Benefit from Stock Compensation		(5,417	)		(1,593	)		(3,048	)
Meals and Entertainment Disallowance		524			484			279
Limitation on Officer's Compensation		6,513			3,009			2,568
Valuation Allowance		500			(7,205	)		(4,556	)
Other		123			185			887
Provision for Income Taxes	$	140,298		$	127,053		$	100,847
Effective Tax Rate		23	%		22	%		21	%

Schedule of Components of Deferred Income Taxes

Components of deferred income taxes are as follows:

	March 31,
	2024			2023
	(dollars in thousands)
Items Giving Rise to Deferred Tax Liabilities
Excess Tax Depreciation and Amortization	$	(260,577	)	$	(253,541	)
Investment in Joint Venture Basis Differences		(4,294	)		(8,744	)
Depletable Assets		(7,710	)		(3,876	)
Right-of-Use Assets		(4,774	)		(5,202	)
Inventory		—			(406	)
Other		(2,956	)		(2,908	)
Total Deferred Tax Liabilities	$	(280,311	)	$	(274,677	)
Items Giving Rise to Deferred Tax Assets
Change in Accruals	$	13,313		$	12,886
Bad Debts		1,621			1,662
Long-term Incentive Compensation Plan		3,622			3,515
Credits and Other Carryforwards		11,466			12,995
Lease Liability		6,598			7,647
Inventory		307			—
Pension		1,087			1,128
Subtotal		38,014			39,833
Valuation Allowance		(2,500	)		(2,000	)
Total Deferred Tax Assets	$	35,514		$	37,833

Reconciliation of Consolidated Liability for Gross Unrecognized Tax Benefits

The change in unrecognized tax benefits for the years ended March 31, 2024, 2023, and 2022 was as follows:

	For the Years Ended March 31,
	2024		2023		2022
	(dollars in thousands)
Balance at Beginning of Year	$	1,284	$	1,284	$	1,284
Increase Related to Current Tax Positions		—		—		—
Decrease Related to Current Tax Positions		—		—		—
Payments		—		—		—
	$	1,284	$	1,284	$	1,284