v3.25.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:      
Net earnings $ 41,224 $ 63,318 $ 9,231
Adjustments to reconcile net earnings to net cash from operating activities:      
Depreciation and amortization [1] 44,776 43,478 40,941
Non-cash lease expense 5,019 7,251 11,636
LIFO charge 34,474 22,342 131,611
Deferred income tax expense 2,190 (5,533) (3,534)
Gain on the sale of assets (3,276) (2,331) (2,872)
Provision for restructuring and impairments 0 567 4,333
Stock-based compensation expense 175 246 76
Pension expense 26 354 1,481
401(k) match stock contribution 2,795 2,453 1,515
Changes in operating assets and liabilities:      
Accounts receivable (16,563) 17,334 22,098
Inventories 234,263 (224,136) (398,514)
Other assets 1,733 (91) (2,743)
Accounts payable 3,254 (29,213) (18,370)
Accrued expenses and other (9,515) 11,192 (13,641)
Income taxes (1,634) 9,624 (1,530)
Net cash provided by (used in) operating activities 335,475 (82,963) (212,796)
Cash flows from investing activities:      
Additions to property, plant and equipment (37,225) (36,637) (70,628)
Proceeds from the sale of assets 5,077 8,089 5,751
Increase in non-current deposits (2,666) (18,654) 0
Net cash used in investing activities (34,814) (47,202) (64,877)
Cash flows from financing activities:      
Borrowings under revolving credit facility 461,455 783,650 777,083
Repayments under revolving credit facility (697,680) (727,023) (616,939)
Borrowings under term loans and note payable 12,394 133,359 174,427
Payments on term loans and finance obligation (20,264) (19,215) (5,500)
Payments on finance leases (4,815) (7,956) (8,814)
Purchase of treasury stock (11,591) (33,030) (41,209)
Payment of debt issuance costs (1,600) 0 0
Preferred stock dividends (23) (23) (23)
Net cash (used in) provided by financing activities (262,124) 129,762 279,025
Net increase (decrease) in cash, cash equivalents and restricted cash 38,537 (403) 1,352
Cash, cash equivalents and restricted cash, beginning of year 11,853 12,256 10,904
Cash, cash equivalents and restricted cash, end of year 50,390 11,853 12,256
Supplemental disclosures of cash flow information:      
Cash paid for interest, net of capitalized interest 34,276 33,100 11,218
Cash paid for income taxes, net 12,657 15,105 9,084
Exchange of note payable for finance obligation and non-current deposits for property, plant and equipment 21,320 0 0
Right-of-use assets obtained in exchange for lease obligations 2,980 5,746 10,187
Right-of-use assets derecognized upon early lease termination 7,592 2,286 3,588
Assets acquired from exercise of finance lease purchase options, net of accumulated depreciation 2,965 6,681 0
Property, plant and equipment purchased on account $ 38 $ 307 $ 1,177
[1] Depreciation and amortization are required to be disclosed as both amounts are included in the reported measure of earnings (loss) before income taxes. The amounts are not considered to be significant segment expenses and therefore are shown separately as an additional segment disclosure. Depreciation and amortization are included within the line items for cost of products sold and general and administrative expense.