FINANCIAL STATEMENTS FOR GUARANTORS OF THE 4.500% SENIOR UNSECURED NOTES (Tables)

6 Months Ended

Sep. 30, 2019

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Condensed Consolidating Statement of Earnings and Comprehensive Earnings

Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Three Months Ended September 30, 2019	Parent			Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	414,526		$	—		$	414,526
Cost of Goods Sold		—			310,020			—			310,020
Gross Profit		—			104,506			—			104,506
Equity in Earnings of Unconsolidated Joint Venture		12,357			12,357			(12,357	)		12,357
Equity in Earnings of Subsidiaries		79,981			—			(79,981	)		—
Corporate General and Administrative Expenses		(12,958	)		(500	)		—			(13,458	)
Other Non-Operating Income		(19	)		961			—			942
Interest Expense, net		(10,124	)		(13	)		—			(10,137	)
Earnings before Income Taxes		69,237			117,311			(92,338	)		94,210
Income Taxes		2,556			(24,973	)		—			(22,417	)
Net Earnings	$	71,793		$	92,338		$	(92,338	)	$	71,793
Net Earnings	$	71,793		$	92,338		$	(92,338	)	$	71,793
Net Actuarial Change in Benefit Plans, net of tax		33			33			(33	)		33
Comprehensive Earnings	$	71,826		$	92,371		$	(92,371	)	$	71,826
Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Three Months Ended September 30, 2018	Parent			Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	381,499		$	—		$	381,499
Cost of Goods Sold		—			283,568			—			283,568
Gross Profit		—			97,931			—			97,931
Equity in Earnings of Unconsolidated Joint Venture		10,173			10,173			(10,173	)		10,173
Equity in Earnings of Subsidiaries		75,030			—			(75,030	)		—
Corporate General and Administrative Expenses		(9,090	)		(832	)		—			(9,922	)
Other Non-Operating Income		(126	)		554			—			428
Interest Expense, net		(6,806	)		(11	)		—			(6,817	)
Earnings before Income Taxes		69,181			107,815			(85,203	)		91,793
Income Taxes		3,421			(22,611	)		—			(19,190	)
Net Earnings	$	72,602		$	85,204		$	(85,203	)	$	72,603
Net Earnings	$	72,603		$	85,204		$	(85,203	)		72,603
Net Actuarial Change in Benefit Plans, net of tax		56			56			(56	)		56
Comprehensive Earnings	$	72,659		$	85,260		$	(85,259	)	$	72,659

Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Six Months Ended September 30, 2019	Parent			Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	785,123		$	—		$	785,123
Cost of Goods Sold		—			605,288			—			605,288
Gross Profit		—			179,835			—			179,835
Equity in Earnings of Unconsolidated Joint Venture		21,789			21,789			(21,789	)		21,789
Equity in Earnings of Subsidiaries		135,723			—			(135,723	)		—
Corporate General and Administrative Expenses		(33,926	)		(786	)		—			(34,712	)
Other Non-Operating Income		407			735			—			1,142
Interest Expense, net		(18,958	)		(25	)		—			(18,983	)
Earnings before Income Taxes		105,035			201,548			(157,512	)		149,071
Income Taxes		8,062			(44,036	)		—			(35,974	)
Net Earnings	$	113,097		$	157,512		$	(157,512	)	$	113,097
Net Earnings	$	113,097		$	157,512		$	(157,512	)	$	113,097
Net Actuarial Change in Benefit Plans, net of tax		68			68			(68	)		68
Comprehensive Earnings	$	113,165		$	157,580		$	(157,580	)	$	113,165
Condensed Consolidating Statement of Earnings and Comprehensive Earnings For the Six Months Ended September 30, 2018	Parent			Guarantor Subsidiaries			Eliminations			Consolidated
Revenue	$	—		$	775,255		$	—		$	775,255
Cost of Goods Sold		—			585,690			—			585,690
Gross Profit		—			189,565			—			189,565
Equity in Earnings of Unconsolidated Joint Venture		19,424			19,424			(19,424	)		19,424
Equity in Earnings of Subsidiaries		142,288			—			(142,288	)		—
Corporate General and Administrative Expenses		(15,819	)		(2,106	)		—			(17,925	)
Legal Settlements		—			(1,800	)		—			(1,800	)
Other Non-Operating Income		(219	)		1,218			—			999
Interest Expense, net		(13,424	)		(25	)		—			(13,449	)
Earnings before Income Taxes		132,250			206,276			(161,712	)		176,814
Income Taxes		6,692			(44,564	)		—			(37,872	)
Net Earnings	$	138,942		$	161,712		$	(161,712	)	$	138,942
Net Earnings	$	138,942		$	161,712		$	(161,712	)		138,942
Net Actuarial Change in Benefit Plans, net of tax		112			112			(112	)		112
Comprehensive Earnings	$	139,054		$	161,824		$	(161,824	)	$	139,054

Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet At September 30, 2019	Parent		Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current Assets -
Cash and Cash Equivalents	$	51,629	$	2,055		$	—		$	53,684
Accounts and Notes Receivable		406		182,283			—			182,689
Inventories		—		241,599			—			241,599
Prepaid and Other Current Assets		1,230		7,853			—			9,083
Total Current Assets		53,265		433,790			—			487,055
Property, Plant, and Equipment, net		7,175		1,448,884			—			1,456,059
Notes Receivable		—		6,436			—			6,436
Investment in Joint Venture		70		71,592			—			71,662
Investments in Subsidiaries and Receivables from Affiliates		2,104,394		147,051			(2,251,445	)		—
Operating Lease Right of Use Assets		10,233		53,293			—			63,526
Goodwill and Intangible Assets, net		—		230,770			—			230,770
Other Assets		4,423		6,280			—			10,703
	$	2,179,560	$	2,398,096		$	(2,251,445	)	$	2,326,211
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities-
Accounts Payable	$	6,707	$	70,949		$	—		$	77,656
Accrued Liabilities		24,194		42,179			—			66,373
Income Taxes Payable		2,931		—			—			2,931
Operating Lease Liabilities		1,145		10,170			—			11,315
Current Portion of Long-term Debt		36,500		—			—			36,500
Total Current Liabilities		71,477		123,298			—			194,775
Long-term Debt		930,426		—			—			930,426
Noncurrent Lease Liabilities		12,824		43,762			—			56,586
Other Long-term Liabilities		—		35,371			—			35,371
Payables to Affiliates		147,051		6,009,179			(6,156,230	)		—
Deferred Income Taxes		7,027		91,271			—			98,298
Total Liabilities		1,168,805		6,302,881			(6,156,230	)		1,315,456
Total Stockholders’ Equity		1,010,755		(3,904,785	)		3,904,785			1,010,755
	$	2,179,560	$	2,398,096		$	(2,251,445	)	$	2,326,211

Condensed Consolidating Balance Sheet At March 31, 2019	Parent		Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS
Current Assets -
Cash and Cash Equivalents	$	5,779	$	2,822		$	—		$	8,601
Accounts and Notes Receivable		437		128,285			—			128,722
Inventories		—		275,194			—			275,194
Income Tax Receivables		5,480		—			—			5,480
Prepaid and Other Current Assets		1,472		8,152			—			9,624
Total Current Assets		13,168		414,453			—			427,621
Property, Plant, and Equipment, net		7,756		1,419,183			—			1,426,939
Notes Receivable		—		2,898			—			2,898
Investment in Joint Venture		70		64,803			—			64,873
Investments in Subsidiaries and Receivables from Affiliates		2,322,334		406,726			(2,729,060	)		—
Goodwill and Intangible Assets, net		—		229,115			—			229,115
Other Assets		4,571		13,146			—			17,717
	$	2,347,899	$	2,550,324		$	(2,729,060	)	$	2,169,163
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities-
Accounts Payable	$	5,520	$	75,364		$	—		$	80,884
Accrued Liabilities		22,470		39,479			—			61,949
Current Portion of Long-term Debt		36,500		—			—			36,500
Total Current Liabilities		64,490		114,843			—			179,333
Long-term Debt		655,092		—			—			655,092
Other Long-term Liabilities		3,303		31,189			—			34,492
Payables to Affiliates		406,726		5,730,093			(6,136,819	)		—
Deferred Income Taxes		8,801		81,958			—			90,759
Total Liabilities		1,138,412		5,958,083			(6,136,819	)		959,676
Total Stockholders’ Equity		1,209,487		(3,407,759	)		3,407,759			1,209,487
	$	2,347,899	$	2,550,324		$	(2,729,060	)	$	2,169,163

Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows For the Six Months Ended September 30, 2019	Parent			Guarantor Subsidiaries			Eliminations		Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	$	(21,193	)	$	205,889		$	—	$	184,696
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to Property, Plant, and Equipment		—			(60,007	)		—		(60,007	)
Acquisition Spending		—			(30,872	)		—		(30,872	)
Net Cash Used in Investing Activities		—			(90,879	)		—		(90,879	)
CASH FLOWS FROM FINANCING ACTIVITIES
Increase in Credit Facility		275,000			—			—		275,000
Dividends Paid to Stockholders		(8,815	)		—			—		(8,815	)
Purchase and Retirement of Common Stock		(313,887	)		—			—		(313,887	)
Proceeds from Stock Option Exercises		1,767			—			—		1,767
Shares Redeemed to Settle Employee Taxes on    Stock Compensation		(2,799	)		—			—		(2,799	)
Intra-entity Activity, net		115,777			(115,777	)		—		—
Net Cash Provided by (Used in) Financing Activities		67,043			(115,777	)		—		(48,734	)
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH		45,850			(767	)		—		45,083
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD		5,779			2,822			—		8,601
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$	51,629		$	2,055		$	—	$	53,684

Condensed Consolidating Statement of Cash Flows For the Six Months Ended September 30, 2018	Parent			Guarantor Subsidiaries			Eliminations		Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES
Net Cash Provided by (Used in) Operating Activities	$	(69,161	)	$	244,037		$	—	$	174,876
CASH FLOWS FROM INVESTING ACTIVITIES
Property, Plant, and Equipment Additions		(1,133	)		(92,311	)		—		(93,444	)
Proceeds from Sale of Property, Plant, and Equipment		—			2,281					2,281
Net Cash Used in Investing Activities		(1,133	)		(90,030	)		—		(91,163	)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of Credit Facility		10,000			—			—		10,000
Dividends Paid to Stockholders		(9,582	)		—			—		(9,582	)
Purchase and Retirement of Common Stock		(122,404	)		—			—		(122,404	)
Proceeds from Stock Option Exercises		1,992			—			—		1,992
Shares Redeemed to Settle Employee Taxes on    Stock Compensation		(1,785	)		—			—		(1,785	)
Intra-entity Activity, net		155,120			(155,120	)		—		—
Net Cash Provided by (Used in) Financing Activities		33,341			(155,120	)		—		(121,779	)
NET INCREASE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH		(36,953	)		(1,113	)		—		(38,066	)
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT BEGINNING OF PERIOD		44,537			3,531			—		48,068
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH AT END OF PERIOD	$	7,584		$	2,418		$	—	$	10,002