v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2024
Cash flows from operating activities:      
Net earnings $ 114,674 $ 41,224 $ 63,318
Adjustments to reconcile net earnings to net cash from operating activities:      
Depreciation and amortization [1] 43,997 44,776 43,478
Non-cash lease expense 3,948 5,019 7,251
LIFO (credit) charge (22,298) 34,474 22,342
Bargain purchase gain (6,667) 0 0
Deferred income taxes 8,121 2,190 (5,533)
(Gain) loss on the sale of assets (745) (3,276) (2,331)
Provision for restructuring and impairments 0 0 567
Stock-based compensation expense 247 175 246
Accounts receivable (11,226) (16,563) 17,334
Inventories 72,642 234,263 (224,136)
Other assets 918 (1,733) 91
Accounts payable 20,184 3,254 (29,213)
Accrued expenses and other 5,063 (9,515) 11,192
Additions to property, plant and equipment (44,323) (37,225) (36,637)
Business acquisition (63,210) 0 0
Proceeds from the sale of assets 1,121 5,077 8,089
Increase in non-current deposits 0 (2,666) (18,654)
Net cash used in investing activities (106,412) (34,814) (47,202)
Income taxes (3,405) (1,634) 9,624
Net cash provided by operating activities 224,506 335,475 (82,963)
Pension (benefit) cost (4,138) 26 354
401(k) match stock contribution 3,191 2,795 2,453
Stock-based compensation expense 247 175 246
Accounts receivable (11,226) (16,563) 17,334
Inventories 72,642 234,263 (224,136)
Other assets 918 (1,733) 91
Accounts payable 20,184 3,254 (29,213)
Accrued expenses and other 5,063 (9,515) 11,192
Additions to property, plant and equipment (44,323) (37,225) (36,637)
Business acquisition (63,210) 0 0
Proceeds from the sale of assets 1,121 5,077 8,089
Increase in non-current deposits 0 (2,666) (18,654)
Net cash used in investing activities (106,412) (34,814) (47,202)
Income taxes (3,405) (1,634) 9,624
Net cash provided by operating activities 224,506 335,475 (82,963)
Accrued expenses and other 5,063 (9,515) 11,192
Additions to property, plant and equipment (44,323) (37,225) (36,637)
Business acquisition (63,210) 0 0
Proceeds from the sale of assets 1,121 5,077 8,089
Increase in non-current deposits 0 (2,666) (18,654)
Net cash used in investing activities (106,412) (34,814) (47,202)
Cash flows from financing activities:      
Borrowings under revolving credit facility 101,540 461,455 783,650
Repayments under revolving credit facility (101,540) (697,680) (727,023)
Borrowings under term loans, finance obligation and note payable 0 12,394 133,359
Payments on term loans and finance obligation (98,635) (20,264) (19,215)
Payments on finance leases (3,813) (4,815) (7,956)
Purchase of treasury stock (16,094) (11,591) (33,030)
Payments of debt issuance costs 0 (1,600) 0
Preferred stock dividends (23) (23) (23)
Net cash (used in) provided by financing activities (118,565) (262,124) 129,762
Net (decrease) increase in cash, cash equivalents and restricted cash (471) 38,537 (403)
Cash, cash equivalents and restricted cash, beginning of the period 50,390 11,853 12,256
Cash, cash equivalents and restricted cash, end of the period 49,919 50,390 11,853
Supplemental disclosures of cash flow information:      
Cash paid for interest, net of capitalized interest 19,354 34,276 33,100
Cash paid for income taxes, net 30,262 12,657 15,105
Right-of-use assets obtained in exchange for lease obligations 12,487 2,980 5,746
Right-of-use assets derecognized upon early lease termination 2,440 7,592 2,286
Contingent consideration associated with business acquisition 1,742 0 0
Assets acquired from exercise of finance lease purchase options, net of accumulated depreciation 829 2,965 6,681
Property, plant and equipment purchased on account 204 38 307
Exchange of note payable for finance obligation and non-current deposits for property, plant and equipment $ 0 $ 21,320 $ 0
[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.