INCOME TAXES (Tables)

12 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Components of Provision for Income Taxes

The provision for income taxes includes the following components:

	For the Years Ended March 31,
	2018			2017			2016
	(dollars in thousands)
Current Provision (Benefit) -
Federal	$	58,695		$	86,459		$	64,256
State		5,989			7,638			4,727
		64,684			94,097			68,983
Deferred Provision (Benefit) -
Federal		(52,333	)		7,274			(546	)
State		2,979			(5,071	)		(1,777	)
		(49,354	)		2,203			(2,323	)
Provision for Income Taxes	$	15,330		$	96,300		$	66,660

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,
	2018			2017			2016
	(dollars in thousands)
Earnings Before Income Taxes	$	271,962		$	294,519		$	219,252
Income Taxes at Statutory Rate	$	85,804		$	103,082		$	76,738
Increases (Decreases) in Tax Resulting from -
State Income Taxes, net		6,139			1,668			1,166
Statutory Depletion in Excess of Cost		(6,341	)		(1,216	)		(5,672	)
Domestic Production Activities Deduction		(5,995	)		(7,615	)		(6,302	)
Excess Tax Benefit from Stock Compensation		(4,129	)		—			—
Meals and Entertainment Disallowance		567			626			629
Limitation on Officer's Compensation		246			—			—
Impact of Tax Cuts and Jobs Act of 2017		(61,692	)		—			—
Other		731			(245	)		101
Provision for Income Taxes	$	15,330		$	96,300		$	66,660
Effective Tax Rate		6	%		33	%		30	%

Schedule of Components of Deferred Income Taxes

Components of deferred income taxes are as follows:

	March 31,
	2018			2017
	(dollars in thousands)
Items Giving Rise to Deferred Tax Liabilities -
Excess Tax Depreciation and Amortization	$	(106,367	)	$	(161,204	)
Depletion		(11,069	)		(18,638	)
State Income Taxes, net		(14,265	)		(11,455	)
Other		(5,957	)		(8,515	)
Total Deferred Tax Liabilities	$	(137,658	)	$	(199,812	)
Items Giving Rise to Deferred Tax Assets -
Change in Accruals	$	8,965		$	12,992
Inventory		4,276			1,242
Bad Debts		1,891			3,895
Long-term Incentive Compensation Plan		4,616			8,691
Credits and Other Carryforwards		12,879			13,103
Pension		1,108			4,178
Other		—			218
Subtotal		33,735			44,319
Valuation Allowance		(15,043	)		(10,531	)
Total Deferred Tax Assets	$	18,692		$	33,788