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Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Mar. 31, 2016	Jun. 02, 2016	Sep. 30, 2015
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	FY
Trading Symbol	CSWI
Entity Registrant Name	CSW INDUSTRIALS, INC.
Entity Central Index Key	0001624794
Current Fiscal Year End Date	--03-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		15,718,188
Entity Public Float			$ 480.8

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Current assets:
Cash and cash equivalents	$ 25,987	$ 20,448
Restricted cash		2,385
Bank time deposits	13,278	9,248
Accounts receivable, net	52,637	48,941
Inventories, net	51,634	47,175
Prepaid expenses and other current assets	11,985	4,099
Total current assets	155,521	132,296
Property, plant and equipment, net	64,357	56,837
Goodwill	67,757	40,645
Intangible assets, net	88,727	40,997
Other assets	15,898	15,746
Total assets	392,260	286,521
Current liabilities:
Accounts payable	9,912	8,960
Accrued and other current liabilities	21,090	16,001
Current portion of long-term debt	561	13,561
Total current liabilities	31,563	38,522
Long-term debt	89,121	13,143
Retirement benefits payable	1,746	22,545
Other liabilities	11,820	7,710
Total liabilities	134,250	81,920
Equity:
Common shares, $0.01 par value Shares authorized - 50,000 Shares issued - 15,659	156	12
Preferred shares, $0.01 par value Shares authorized - 10,000 Shares issued - 0		1,000
Additional paid-in capital	31,597	7,810
Treasury shares, at cost		(2,712)
Retained earnings	233,955	208,784
Accumulated other comprehensive loss	(7,698)	(10,293)
Total equity	258,010	204,601
Total liabilities and equity	$ 392,260	$ 286,521

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2016	Mar. 31, 2015
Statement of Financial Position [Abstract]
Common shares, par value	$ 0.01	$ 0.01
Common shares, authorized	50,000,000	50,000,000
Common shares, issued	15,659,000	15,659,000
Preferred shares, par value	$ 0.01	$ 0.01
Preferred shares, authorized	10,000,000	10,000,000
Preferred shares, issued	0	0

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Income Statement [Abstract]
Revenues, net	$ 319,831	$ 261,834	$ 231,713
Cost of revenues	(171,967)	(135,409)	(119,627)
Gross profit	147,864	126,425	112,086
Selling, general and administrative expense	(100,378)	(81,681)	(72,864)
Impairment loss	0	(710)	(1,309)
Operating income	47,486	44,034	37,913
Interest expense, net	(3,035)	(611)	(131)
Other (expense) income, net	(226)	1,505	(256)
Income before income taxes	44,225	44,928	37,526
Provision for income taxes	(18,754)	(15,223)	(12,794)
Net income	$ 25,471	$ 29,705	$ 24,732
Net earnings per common share:
Basic	$ 1.63	$ 1.91	$ 1.59
Diluted	$ 1.62	$ 1.90	$ 1.58

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 25,471	$ 29,705	$ 24,732
Other comprehensive income (loss):
Foreign currency translation adjustments	(1,371)	(5,277)	363
Cash flow hedging activity, net of taxes	(15)	(1,206)
Pension and other postretirement effects, net of taxes	3,981	(6,307)	3,220
Other comprehensive income (loss)	2,595	(12,790)	3,583
Comprehensive income	$ 28,066	$ 16,915	$ 28,315

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Cash flow hedging activity, taxes	$ 8	$ 649	$ 0
Pension and other postretirement effects, taxes	$ (2,145)	$ 3,396	$ (1,734)

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Capital Southwest Corporation [Member]	Accumulated Other Comprehensive Loss [Member]
Balance at beginning of period at Mar. 31, 2013	$ 176,522	$ 0	$ 0	$ 171,292	$ 6,316	$ (1,086)
Net income	24,732			24,732
Dividends	(8,651)			(8,651)
Other comprehensive income, net of tax	3,583					3,583
Balance at end of period at Mar. 31, 2014	196,186	0	0	187,373	6,316	2,497
Net income	29,705			29,705
Dividends	(8,294)			(8,294)
Repurchases of common shares	(206)				(206)
Other comprehensive income, net of tax	(12,790)					(12,790)
Balance at end of period at Mar. 31, 2015	204,601	0	0	208,784	6,110	(10,293)
Share-based and other executive compensation	2,231		2,231
Stock activity under stock plans	96		96
Tax benefit associated with share-based compensation	212		212
Net income	25,471			25,471
Dividends	(300)			(300)
Other comprehensive income, net of tax	2,595					2,595
Effects of Share Distribution and contributions from Capital Southwest	23,104	156	29,058		(6,110)
Balance at end of period at Mar. 31, 2016	$ 258,010	$ 156	$ 31,597	$ 233,955	$ 0	$ (7,698)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Cash flows from operating activities:
Net income	$ 25,471	$ 29,705	$ 24,732
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	7,032	5,922	5,225
Amortization of intangible and other assets	7,129	4,593	3,888
Provision for doubtful accounts	(282)	1,515	130
Share-based and other executive compensation	2,231
Acquisition-related non-cash gain	(1,950)
Net loss (gain) on sales of property, plant and equipment	60	(1,627)	(251)
Pension plan curtailment benefit	(8,020)
Net pension expense	3,506	3,392	3,616
Impairment of assets	0	710	1,309
Net deferred taxes	7,262	(7,887)	(1,023)
Changes in operating assets and liabilities:
Accounts receivable, net	2,522	(37)	(9,964)
Inventories, net	5,056	(6,655)	(6,764)
Prepaid expenses and other current assets	(4,945)	4,351	(680)
Other assets	(3,275)	109	2,004
Accounts payable and other current liabilities	910	1,086	(850)
Retirement benefits payable and other liabilities	(1,177)	291	257
Net cash provided by operating activities	41,530	35,468	21,629
Cash flows from investing activities:
Capital expenditures	(11,053)	(8,672)	(15,042)
Proceeds from sale of assets held for investment		3,494	1,740
Proceeds from sale of assets	46	6,393	5
Net change in bank time deposits	(1,978)	3,353	(2,013)
Cash paid for acquisitions	(97,236)	(7,193)	(24,632)
Net cash used in investing activities	(110,221)	(2,625)	(39,942)
Cash flows from financing activities:
Borrowings on lines of credit	81,000	12,229	37,217
Repayments on lines of credit	(94,561)	(30,622)	(15,467)
Borrowings on revolving credit agreement	98,040
Payments on revolving line of credit agreement	(21,500)
Payments of deferred loan costs	(1,081)		(30)
Purchase of treasury shares		(206)
Cash contribution from Capital Southwest	13,000
Proceeds from stock option activity	96
Dividends paid to Capital Southwest	(300)	(8,294)	(8,651)
Net cash provided by (used in) financing activities	74,694	(26,893)	13,069
Effect of exchange rate changes on cash and cash equivalents	(464)	(913)	(704)
Net change in cash and cash equivalents	5,539	5,037	(5,948)
Cash and cash equivalents, beginning of period	20,448	15,411	21,359
Cash and cash equivalents, end of period	25,987	20,448	15,411
Supplemental non-cash disclosure:
Cash paid during the year for interest	3,074	1,053	742
Cash paid during the year for income taxes	18,298	$ 16,721	$ 12,781
Pension plan assets contributed by Capital Southwest	$ 10,357

Organization and Operations and Summary of Significant Accounting Policies

12 Months Ended

Mar. 31, 2016

Accounting Policies [Abstract]

Organization and Operations and Summary of Significant Accounting Policies

1.	ORGANIZATION AND OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

CSW Industrials, Inc. (“CSWI,” the “Company,” “we,” “our” or “us”) is a diversified industrial growth company with well-established, scalable platforms and domain expertise across three segments: Industrial Products; Coatings, Sealants & Adhesives; and Specialty Chemicals. Our broad portfolio of leading products provides performance optimizing solutions to our customers. Our products include mechanical products for heating, ventilating and air conditioning (“HVAC”) and refrigeration applications, coatings and sealants and high performance specialty lubricants. Drawing on our innovative and proven technologies, we seek to deliver solutions to our professional customers that require superior performance and reliability. Our diverse product portfolio includes more than 100 highly respected industrial brands including RectorSeal No. 5 ™ thread sealants, KOPR KOTE™ anti-seize lubricants, Safe-T-Switch^® condensate overflow shutoff devices, KATS^® coatings, Air Sentry^® breathers, and RailPlex^® tank car coatings. Additionally, we recently acquired Deacon^® high temperature sealants and AC Leak Freeze^® to stop refrigerant leaks. Our products are well known in the specific industries we serve and have a reputation for high quality and reliability. Markets that we serve include HVAC, industrial, rail, plumbing, architecturally-specified building products, energy, mining, and other general industrial markets.

The Share Distribution – On December 2, 2014, Capital Southwest Corporation (“Capital Southwest”) announced its plan to spin-off certain of its industrial products, coatings, sealants and adhesives and specialty chemicals businesses by means of a distribution of the outstanding shares of common stock of CSWI on a pro rata basis to holders of Capital Southwest common stock (the “Share Distribution”). The Share Distribution occurred on September 30, 2015, and CSWI became an independent, publicly traded company. Prior to the Share Distribution, Capital Southwest contributed to CSWI all of the outstanding capital stock of The RectorSeal Corporation (“RectorSeal”), The Whitmore Manufacturing Company (“Whitmore”), Jet-Lube, Inc. (“Jet-Lube”), Strathmore Holdings, LLC. (“Strathmore”), Balco, Inc. (“Balco”), Smoke Guard, Inc. (“Smoke Guard”) and CapStar Holdings Corporation (“CapStar”), $13.0 million in cash and pension assets of $10.4 million (CSWI assumed both the pension plan assets and obligations associated with the defined benefit pension plan), and net of $0.3 million in equity issuance costs. The following is a brief description of each business:

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RectorSeal formulates and manufactures specialty chemical products including pipe thread sealants, firestop sealants, plastic solvent cements and other formulations. RectorSeal also makes specialty tools for tradesmen and innovative systems for containing flames and smoke from building fires.

•

Whitmore manufactures high performance, specialty lubricants for heavy equipment used in surface mining, railroad and other industries. Whitmore also manufactures lubrication equipment, specifically for rail applications, and lubrication-centric reliability solutions for a wide variety of industries, and produces water-based coatings for the automotive and primary metals industries.

•

Jet-Lube is a world leader in anti-seize compounds, thread sealants and specialty lubrication products and greases for the energy industry.

•

Strathmore is engaged in the manufacturing of paint for sale to industrial clients and is a leading manufacturer of specialized industrial coating products including urethanes, epoxies, acrylics and alkyds.

•

Balco is engaged in the fabrication of aluminum and plastic extrusions and other materials related to safety, slip resistance and emergency egress.

•

Smoke Guard manufactures certified custom safety products for the commercial construction market and other markets requiring smoke and fire protection.

Basis of Presentation – CSWI began operations on September 30, 2015 as a result of the Share Distribution. With the exception of cash funded at inception and the contributed capital stock of the businesses discussed above, we did not own any material assets prior to the Share Distribution. The historical financial position, results of operations and cash flows included in this Annual Report on Form 10-K for the fiscal year ended March 31, 2016 (“Annual Report”) represent the consolidated financial statements of the businesses discussed above. As these businesses were under common control of Capital Southwest for all periods prior to September 30, 2015, the financial statements have been consolidated for all historical periods and equity accounts presented in the balance sheet as of March 31, 2015 represent the combined equity accounts of these businesses. Equity accounts presented in the balance sheet as of March 31, 2016 represent the equity of CSWI. The consolidated financial statements have been prepared on a standalone basis and are derived from the underlying accounting records of the underlying businesses in conformity with United States (“U.S.”) generally accepted accounting principles (“GAAP”).

The consolidated financial statements include all revenues, costs, assets and liabilities directly attributable to the businesses discussed above. However, the consolidated financial statements for periods prior to the Share Distribution may not include all of the expenses that would have been incurred had the businesses been operating as separate publicly-traded (“standalone”) companies during those periods and may not reflect the consolidated results of operations, financial position and cash flows as a standalone company during all periods presented. All significant intercompany balances and transactions have been eliminated in consolidation.

Certain prior period balances have been reclassified to conform to current period presentation with no effect on previously reported total assets, equity, net income or cash flows from operations.

Use of Estimates – The process of preparing financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect reported amounts of certain assets, liabilities, revenues and expenses. We believe our estimates and assumptions are reasonable; however, actual results may differ materially from such estimates. The most significant estimates and assumptions are used in determining:

•

Timing and amount of revenue recognition;

•

Deferred taxes and tax reserves;

•

Pension benefits; and

•

Valuation of goodwill and indefinite-lived intangible assets.

Cash and Cash Equivalents – We consider all highly liquid instruments purchased with original maturities of three months or less and money market accounts to be cash equivalents. We maintain our cash and cash equivalents at financial institutions for which the combined account balances in individual institutions may exceed Federal Deposit Insurance Corporation (“FDIC”) insurance coverage and, as a result, there is a concentration of credit risk related to amounts on deposit in excess of FDIC insurance coverage. We had deposits in domestic banks of $17.6 million and $10.3 million, of which $15.2 million and $8.3 million, at March 31, 2016 and 2015 respectively, were in excess of FDIC limits.

Cash and cash equivalent balances of $8.4 million and $10.1 million are held in foreign currencies in foreign banks at March 31, 2016 and 2015, respectively, of which $5.0 million and $3.0 million exceeded insurance limits at March 31, 2016 and 2015, respectively.

Restricted Cash – Restricted cash includes compensating cash balances related to certain credit facilities and cash held in escrowrelated to real estate sales.

Bank Time Deposits – Bank time deposits include investments with maturities of over three months that are redeemable within one year of the fiscal year end without significant penalty. Our bank time deposits of $13.3 million and $9.2 million as of March 31, 2016 and 2015, respectively, are certificates of deposit. Of the $13.3 million and $9.2 million of bank time deposits held at March 31, 2016 and 2015, respectively, $10.4 million and $6.5 million, respectively, are fully insured by the province of Alberta, Canada or the Financial Services Compensation Scheme (U.K.).

Allowance for Doubtful Accounts – We estimate a bad debt reserve under the allowance method. Using payment history in light of current economic conditions, management examines the status of customer accounts on the aged accounts receivable report. With this information, management estimates an appropriate allowance for doubtful accounts. Accounts receivable are written off when it is determined that the receivable will not be collected.

Inventories and Related Reserves – Inventories are stated at the lower of cost or market and include raw materials, supplies, direct labor, and manufacturing overhead. Cost is determined using the last-in, first-out (“LIFO”) method for valuing inventories at our primary domestic operations. Our foreign subsidiaries use either the first-in, first out method or the weighted average cost method to value inventory. Foreign inventories represent approximately 8% and 10% of total inventories as of March 31, 2016 and March 31, 2015, respectively.

Reserves are provided for slow-moving or excess and obsolete inventory based on the difference between the cost of the inventory and its net realizable value and by reviewing quantities on hand in comparison to historical and expected future usage. In estimating the reserve for excess or slow moving inventory, management considers factors such as product aging, current and future customer demand and market conditions.

Property, Plant and Equipment – Property, plant and equipment are stated at cost and depreciated using the straight-line method over the estimated useful lives of the individual assets. When property, plant and equipment are retired or otherwise disposed of, the related cost and accumulated depreciation are removed from the accounts, and the resulting gain or loss is included in income from operations for the period. Generally, the estimated useful lives of assets are:


Land improvements			5 to 40 years
Buildings and improvements			7 to 40 years
Plant, office and lab equipment			5 to 40 years

We review property, plant and equipment for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable.

Repairs and maintenance costs are expensed as incurred, and significant improvements that either extend the useful life or increase the capacity or efficiency of property and equipment are capitalized and depreciated.

Valuation of Goodwill – Goodwill represents the excess of the aggregate purchase price over the fair value of identifiable net assets acquired in a business combination. We test goodwill at least annually for impairment. We first assess qualitative factors to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. Qualitative assessments use an evaluation of events and circumstances such as macroeconomic conditions, industry and market considerations, cost factors, financial performance factors, entity specific events, and changes in carrying value to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount, including goodwill.

If a reporting unit fails the qualitative assessment, then valuation models and other relevant data are used to estimate the reporting unit’s fair value. The valuation models require the input of subjective assumptions. We use an income approach for impairment testing of goodwill and indefinite lived intangible assets, using a discounted cash flow method. Estimates of future revenue and expense are made for five years, growth estimates are made to calculate terminal value, and a discount rate is used that approximates our weighted average cost of capital. We perform qualitative or quantitative assessments to test asset carrying values for impairment at January 31, which is the annual impairment testing date. No impairment loss was recognized as a result of the impairment tests for the fiscal years ended March 31, 2016, 2015 or 2014.

Intangible Assets – We have intangible assets consisting of patents, trademarks, customer lists and non-compete agreements. Definite-lived intangible assets are assessed for impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable. In addition, we have other trademarks and license agreements that are considered to have indefinite lives. We review indefinite-lived intangible assets at least annually for impairment, or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Significant assumptions used in the impairment test include the discount rate, royalty rate, future projections and terminal value growth rate. These inputs are considered non-recurring level three inputs within the fair value hierarchy. An impairment loss would be recognized when estimated future cash flows are less than their carrying amount. We recorded an impairment of intangible assets of $0, $0.7 million and $1.3 million for the fiscal years ended March 31, 2016, 2015 and 2014, respectively.

Property Held for Investment – Capstar holds and manages certain excess non-operating properties. Properties are disposed of as opportunities arise to maximize value. Properties are valued at lower of cost or market.

Deferred Loan Costs – Deferred loan costs, which are reported in other assets and consist of fees and other expenses associated with debt financing, are amortized over the term of the associated debt using the effective interest method.

Fair Values of Financial Instruments – Our financial instruments are presented at fair value in our consolidated balance sheets, with the exception of our long-term debt. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models may be applied.

Assets and liabilities recorded at fair value in our consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure their fair values. Hierarchical levels, as defined by Accounting Standards Codification (“ASC”) 820, “Fair Value Measurements and Disclosures,” are directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities. An asset or a liability’s categorization within the fair value hierarchy is based on the lowest level of significant input to its valuation. Hierarchical levels are as follows:

Level I – Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date.

Level II – Inputs (other than quoted prices included in Level I) are either directly or indirectly observable for the asset or liability through correlation with market data at the measurement date and for the duration of the instrument’s anticipated life.

Level III – Inputs reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. Consideration is given to the risk inherent in the valuation technique and the risk inherent in the inputs to the model.

Recurring fair value measurements are limited to investments in derivative instruments and reserves for contingent consideration. The fair value measurements of our derivative instruments are determined using models that maximize the use of the observable market inputs including interest rate curves and both forward and spot prices for currencies, and are classified as Level II under the fair value hierarchy. The fair values of our derivative instruments are included in Note 9. The fair value measurements of our reserves for contingent consideration are classified as Level III and are generally determined using a weighted average probability model based primarily on projected net revenues, with the following exception: contingent consideration related to the acquisition of Strathmore utilized the Monte Carlo simulation methodology and employed 200,000 trials using a risk neutral Geometric Brownian Motion methodology. The volatility used in the Monte Carlo analysis was based on the observed equity volatility of comparable companies, and the risk free discount rate was the U.S. treasury rate corresponding to the respective term of each earn-out. The most significant factor in the valuation is Strathmore’s projected earnings before interest, taxes, depreciation and amortization.

Derivative Instruments and Hedge Accounting – We do not use derivative instruments for trading or speculative purposes. We enter into interest rate swap agreements for the purpose of hedging our cash flow exposure to floating interest rates on certain portions of our debt. All derivative instruments are recognized on the balance sheet at their fair values. Changes in the fair value of a designated interest rate swap are recorded in other comprehensive loss until earnings are affected by the underlying hedged item. Any ineffective portion of the gain or loss is immediately recognized in earnings. Upon settlement, realized gains and losses are recognized in interest expense in the consolidated statements of income. See Note 9 for further discussion of interest rate swaps.

We discontinue hedge accounting when (1) we deem the hedge to be ineffective and determine that the designation of the derivative as a hedging instrument is no longer appropriate; (2) the derivative matures, terminates or is sold; or (3) occurrence of the contracted or committed transaction is no longer probable or will not occur in the originally expected period. When hedge accounting is discontinued and the derivative remains outstanding, we carry the derivative at its estimated fair value on the balance sheet, recognizing changes in the fair value in current period earnings. If a cash flow hedge becomes ineffective, any deferred gains or losses remain in accumulated other comprehensive loss until the underlying hedged item is recognized. If it becomes probable that a hedged forecasted transaction will not occur, deferred gains or losses on the hedging instrument are recognized in earnings immediately.

We are exposed to risk from credit-related losses resulting from nonperformance by counterparties to our financial instruments. We perform credit evaluations of our counterparties under forward exchange contracts and interest rate swap agreements and expect all counterparties to meet their obligations. If necessary, we would adjust the values of our derivative contracts for our or our counterparties’ credit risk.

Pension Obligations – Determination of pension benefits obligations is based on estimates made by management in consultation with independent actuaries. Inherent in these valuations are assumptions including discount rates, expected rates of return on plan assets, retirement rates, mortality rates and rates of compensation increase and other factors all of which are reviewed annually and updated if necessary. Current market conditions, including changes in rates of return, interest rates and medical inflation rates, are considered in selecting these assumptions.

•

Discount rates are estimated using high quality corporate bond yields with a duration matching the expected benefit payments. The discount rate is obtained from a universe of Aa-rated non-callable bonds across the full maturity spectrum to establish a weighted average discount rate. Our discount rate assumptions are impacted by changes in general economic and market conditions that affect interest rates on long-term high-quality debt securities, as well as the duration of our plans’ liabilities.

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The expected rates of return on plan assets are derived from reviews of asset allocation strategies, expected future experience for trust asset returns, risks and other factors adjusted for our specific investment strategy. These rates are impacted by changes in general market conditions, but because they are long-term in nature, short-term market changes do not significantly impact the rates. Changes to our target asset allocation also impact these rates.

Actuarial gains and losses and prior service costs are recognized in accumulated other comprehensive loss as they arise, and we amortize these costs into net pension expense over the remaining expected service period.

We used a measurement date of March 31 for all periods presented.

Revenue Recognition – We generally recognize revenue upon shipment of product, at which time title and risk of loss passes to the customer. Additionally, we require that all of the following circumstances are satisfied: a) persuasive evidence of an arrangement exists, b) price is fixed or determinable, c) collectability is reasonably assured and d) delivery has occurred or services have been rendered. Net revenues represent gross revenues invoiced to customers less certain related charges for contractual discounts or rebates. Discounts provided to customers at the point of sale are recognized as reductions in revenue as the products are sold. Rebate amounts are recorded as reduction of revenue on a monthly basis using estimates of customer participation and performance. Freight charges billed to customers are included in net revenues and the related shipping costs are included in cost of revenues in our consolidated statements of income.

Research and Development – Research and development costs are expensed as incurred. Costs incurred for research and development primarily include salaries and benefits and consumable supplies, as well as rent, professional fees, utilities and the depreciation of property and equipment used in research and development activities. Research and development costs included in selling, general and administrative expense were $4.5 million, $5.7 million and $5.5 million for the fiscal years ended March 31, 2016, 2015 and 2014, respectively.

Share-based Compensation – Share-based compensation is measured at the grant-date fair value. The exercise price of stock option awards and the fair value of restricted share awards are set at the closing price of our common stock on the NASDAQ Stock Market, LLC on the date of grant, which is the date such grants are authorized by our Board of Directors. The fair value of performance-based restricted share awards is determined using a Monte Carlo simulation model incorporating all possible outcomes against a defined peer group. The fair value of share-based payment arrangements is amortized on a straight-line basis to compensation expense over the period in which the restrictions lapse based on the expected number of shares that will vest. To cover the exercise of options and vesting of restricted shares, we generally issue new shares from our authorized but unissued share pool, although we may instead issue treasury shares in certain circumstances.

Income Taxes, Deferred Taxes, Tax Valuation Allowances and Tax Reserves – We apply the liability method in accounting and reporting for income taxes. Under the liability approach, deferred tax assets and liabilities are determined based upon the difference between the financial statement carrying amounts and the tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax rates expected to be in effect when these differences are expected to reverse. The effect on deferred tax assets and liabilities resulting from a change in tax rates is recognized in the period that includes the enactment date. The deferred income tax assets are adjusted by a valuation allowance, if necessary, to recognize future tax benefits only to the extent, based on available evidence, that it is more likely than not to be realized. This analysis is performed on a jurisdictional basis and reflects our ability to utilize these deferred tax assets through a review of past, current and estimated future taxable income in addition to the establishment of viable tax strategies that will result in the utilization of the deferred assets. We recognize income tax related interest and penalties, if any, as a component of income tax expense.

Unremitted Earnings – We consider the earnings of non-U.S. subsidiaries to be indefinitely invested outside the United States on the basis of estimates that future domestic cash generation will be sufficient to meet future domestic cash needs and our specific plans for reinvestment of those subsidiary earnings. Should we decide to repatriate foreign earnings, a deferred tax liability will be recorded and our income tax provision will be adjusted in the period we determined that the earnings will no longer be indefinitely invested outside the U.S. We provide deferred taxes for the temporary differences associated with our investment in foreign subsidiaries that have a financial reporting basis that exceeds tax basis, unless we can assert permanent reinvestment in foreign jurisdictions. Financial reporting basis and tax basis differences in investments in foreign subsidiaries consist of both unremitted earnings and losses, as well as foreign currency translation adjustments.

Uncertain Tax Positions – We establish income tax liabilities to remove some or all of the income tax benefit of any of our income tax positions based upon one of the following: (1) the tax position is not “more likely than not” to be sustained, (2) the tax position is “more likely than not” to be sustained, but for a lesser amount or (3) the tax position is “more likely than not” to be sustained, but not in the financial period in which the tax position was originally taken. The amount of income taxes we pay is subject to ongoing audits by federal, state, and foreign taxing authorities, which often result in proposed assessments. We establish reserves for open tax years for uncertain tax positions that may be subject to challenge by various taxing authorities. The consolidated tax provision and related accruals include the impact of such reasonably estimable losses and related interest and penalties as deemed appropriate.

We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities. The determination is based on the technical merits of the position and presumes that each uncertain tax position will be examined by the relevant taxing authority that has full knowledge of all relevant information. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. For the fiscal year ended March 31, 2016, we recognized an uncertain tax position related to state taxes in the amount of $0.9 million, and we recognized $0.4 million in interest and penalties in income tax expense. We did not recognize any uncertain tax positions or interest and penalties in income tax expense for the fiscal years ended March 31, 2015 or 2014.

Earnings Per Share – We use the two-class method of calculating earnings per share, which determines earnings per share for each class of common stock and participating security as if all earnings of the period had been distributed. As the holders of restricted stock are entitled to vote and receive dividends during the restriction period, unvested shares of restricted stock qualify as participating securities and, accordingly, are included in the basic computation of earnings per share. Our unvested restricted shares participate on an equal basis with common shares; therefore, there is no difference in undistributed earnings allocated to each participating security. Accordingly, the presentation in Note 8 is prepared on a combined basis and is presented as earnings per common share. Diluted earnings per share is based on the weighted average number of shares as determined for basic earnings per share plus shares potentially issuable in conjunction with stock options.

Foreign Currency Translation – Assets and liabilities of our foreign subsidiaries are translated to U.S. dollars at exchange rates prevailing at the balance sheet date, while income and expenses are translated at average rates for each month. Translation gains and losses are reported as a component of accumulated other comprehensive loss. Transactional currency gains and losses arising from transactions in currencies other than our sites’ functional currencies are included in our consolidated statements of income.

Transaction and translation gains and losses arising from intercompany balances are reported as a component of accumulated other comprehensive loss when the underlying transaction stems from a long-term equity investment or from debt designated as not due in the foreseeable future. Otherwise, we recognize transaction gains and losses arising from intercompany transactions as a component of income.

Segment Reporting – We conduct our operations through three business segments based on type of product and how we manage the business. The products for our segments are distributed both domestically and internationally. For decision-making purposes, our Chief Executive Officer and other members of senior executive management use financial information generated and reported at the reportable segment level. We evaluate segment performance and allocate resources based on each reportable segment’s operating income. Our reportable segments are as follows:

•

Industrial Products includes specialty mechanical products, fire and smoke protection products, architecturally-specified building products and storage, filtration and application equipment for use with our specialty chemicals and other products for general industrial application.

•

Coatings, Sealants & Adhesives is comprised of coatings and penetrants, pipe thread sealants, firestopping sealants and caulks and adhesives/solvent cements.

•

Specialty Chemicals includes lubricants and greases, drilling compounds, anti-seize compounds, chemical formulations and degreasers and cleaners.

Intersegment sales and transfers are recorded at cost plus a profit margin, with the sales and related margin on such sales eliminated in consolidation. We do not allocate interest expense, interest income or other (expense) income, net to our segments. Our corporate headquarters does not constitute a separate segment. The Eliminations and Other segment information is included to reconcile segment data to the consolidated financial statements and includes assets and expenses primarily related to CapStar and corporate functions.

Accounting Developments

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” which was subsequently amended by ASU No. 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” and ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing.” ASU No. 2014-09, as amended, supersedes the revenue recognition requirements in “Revenue Recognition (Topic 605).” The standard is principle-based and provides a five-step model to determine when and how revenue is recognized. The core principle is that a company should recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. There are also expanded disclosure requirements in this ASU. In July 2015, the FASB voted to delay the effective date of ASU 2014-09 by one year. As a result, public entities will apply the new standard for annual reporting periods beginning after December 15, 2017, including interim periods within those reporting periods. Early adoption as of the original public entity effective date is permitted. We are currently evaluating the impact of ASU No. 2014-09 on our consolidated financial condition and results of operations.

In April 2015, the FASB issued ASU No. 2015-03, “Interest – Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs.” This ASU requires debt issuance costs be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability. Amortization of those costs should be reported as interest expense. This ASU is effective for financial statements issued for annual and interim periods beginning after December 15, 2015, and early adoption is permitted for financial statements that have not been previously issued. The new guidance should be applied on a retrospective basis for each period presented in the balance sheet. We do not believe that adoption of this ASU will have a material impact on our consolidated financial condition and results of operations.

In April 2015, the FASB issued ASU No. 2015-05, “Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement.” This ASU provides guidance to customers about whether a cloud computing arrangement includes software. If a cloud computing arrangement includes a software license, the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The new guidance does not change the accounting for a customer’s accounting for service contracts. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015, and early adoption is permitted. We adopted the amendments of this ASU for the year ended March 31, 2016, and it did not have a material impact on our consolidated financial condition and results of operations.

In September 2015, the FASB issued ASU No. 2015-16, “Simplifying the Accounting for Measurement Period Adjustments,” which eliminates the requirement to retrospectively account for measurement period adjustments related to a business combination. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015, and is to be applied prospectively. Early adoption is permitted. We adopted the amendments of this ASU for the year ended March 31, 2016, and it did not have an impact on our consolidated financial condition and results of operations.

In November 2015, the FASB issued ASU No. 2015-17, “Balance Sheet Classification of Deferred Taxes,” which requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2016, and may be applied prospectively or retrospectively. Early adoption is permitted. We retrospectively adopted the amendments of this ASU as of March 31, 2016, and as a result, $2.7 million of current deferred tax assets that were included in prepaid expenses and other current assets at March 31, 2015 have been reclassified to noncurrent deferred tax assets, which are included in other assets in the consolidated balance sheet.

In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet and disclosing key information about leasing arrangements. A lessee should recognize in the statement of financial position a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee have not significantly changed from previous U.S. GAAP. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2018. Modified retrospective application is permitted with certain practical expedients. Early adoption is permitted. We are currently evaluating the impact of ASU No. 2016-02 on our consolidated financial condition and results of operations.

In March 2016, the FASB issued ASU No. 2016-09, “Compensation – Stock Compensation (Topic 718),” which simplifies the accounting for share-based compensation. The areas for simplification in this ASU involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities, and classification on the statement of cash flows. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2016. Early adoption is permitted. We are currently evaluating the impact of ASU No. 2016-09 on our consolidated financial condition and results of operations.

Acquisitions

12 Months Ended

Mar. 31, 2016

Business Combinations [Abstract]

Acquisitions

2.	ACQUISITIONS

AC Leak Freeze

On December 16, 2015, we acquired substantially all of the assets of AC Leak Freeze^TM (“Leak Freeze”), based in Baltimore, Maryland for $16.3 million in cash funded by borrowings under CSWI’s Revolving Credit Facility (discussed in Note 7). Leak Freeze is a leading manufacturer of original equipment manufacturer-approved air conditioning and refrigerant leak repair solutions. The excess of the purchase price over the fair value of the identifiable assets acquired was $5.7 million and was allocated to goodwill, which will be deductible for income tax purposes. Goodwill represents the value expected to be obtained from a more extensive specialty chemical product portfolio for the HVAC market and leveraging our larger distributor network. The allocation of the fair value of the assets acquired included customer lists, trademarks and trade names and a non-compete agreement of $8.1 million, $1.4 million and $0.2 million, respectively, as well as inventory in the amount of $0.7 million. Customer lists and the non-compete agreement are being amortized over 10 years and five years, respectively, while trademarks and trade names and goodwill are not being amortized. Leak Freeze activity has been included in our Specialty Chemicals segment since the acquisition date. No pro forma information has been provided due to immateriality.

Deacon Industries, Inc.

On October 1, 2015, we acquired substantially all of the assets of Deacon Industries, Inc. (“Deacon”), based in Washington, Pennsylvania for $12.6 million. The acquisition was funded by $11.0 million of borrowings under the RectorSeal Line of Credit and $1.1 million cash on hand. The remaining $0.5 million of the purchase price represents a payment contingent upon the achievement of certain performance metrics during the fiscal year ending March 31, 2017. Deacon is a leading manufacturer of high temperature sealants and injectable packings with applications in a variety of industrial end markets, both on an emergency and maintenance basis. The excess of the purchase price over the fair value of the identifiable assets acquired was $4.1 million and was allocated to goodwill, which will be deductible for income tax purposes. Goodwill represents the value expected to be obtained from a more extensive sealant and injectable packing product portfolio and leveraging our larger distributor network. The allocation of the fair value of the assets acquired included customer lists, know-how, trademarks and trade names and a non-compete agreement of $2.9 million, $2.6 million, $1.1 million, and $0.1 million, respectively, as well as property, plant, and equipment and inventory in the amounts of $0.9 million and $0.5 million, respectively. Customer lists, know-how and the non-compete agreement are being amortized over 15 years, 10 years and five years, respectively, while trademarks and trade names and goodwill are not being amortized. Deacon activity has been included in our Coatings, Sealants & Adhesives segment since the acquisition date. No pro forma information has been provided due to immateriality.

Strathmore Products, Inc.

Effective April 1, 2015, we acquired the assets of Strathmore, a leading manufacturer of specialized industrial coating products including urethanes, epoxies, acrylics and alkyds, for $68.8 million, plus up to an additional $16.5 million within a prescribed period of time following March 31, 2017, depending on the achievement of certain performance metrics during the fiscal years ending March 31, 2016 and 2017. A liability of $2.0 million was recorded at acquisition based on the projected achievement of the performance metrics as estimated using the Monte Carlo simulation methodology. This liability was reduced to $0 during the quarter ended December 31, 2015 based on expected achievement of performance metrics. The acquisition was funded from borrowings of $70.0 million (as discussed in Note 7). Transaction costs incurred in connection with the acquisition were $2.7 million (including $0.2 million incurred during the fiscal year ended March 31, 2015) and are reported in selling, general and administrative expense in the accompanying consolidated statements of income. The preliminary excess of the purchase price over the fair value of the identifiable assets acquired was $15.1 million and was allocated to goodwill, which will be deductible for income tax purposes. Goodwill represents the value expected to be achieved from an increased market presence in the industrial coatings sector and a platform from which to grow through end-market and geographic expansion. During the quarter ended December 31, 2015, a measurement period adjustment was recorded to recognize $2.7 million in prepaid compensation cost, which reduced the preliminary estimate of goodwill to $12.4 million. Prepaid compensation is being amortized ratably to expense over the vesting period, which ends March 31, 2018. The preliminary fair value of the assets acquired included trade names and trademarks, customer relationships and non-compete agreements of $14.9 million, $27.4 million and $0.4 million, respectively. During the quarter ended March 31, 2016, we finalized our allocation of the purchase price and recorded a measurement period adjustment, which resulted in a change in the fair values of customer relationships and trade names and trademarks to $23.7 million and $13.6 million, respectively, which resulted in an increase of $5.0 million to goodwill. Customer relationships and the non-compete agreements are being amortized over 15 years and five years, respectively, while trade names, trademarks and goodwill are not being amortized.

The following table summarizes the fair values of assets acquired and liabilities assumed (in thousands):


Accounts receivable	$	4,902
Inventory		8,447
Property, plant and equipment		3,761
Intangible assets		37,650
Other, net		2,941
Current liabilities		(4,297	)

Net tangible and intangible assets		53,404
Goodwill		17,395

Purchase price	$	70,799

Strathmore has been included in the Coatings, Sealants & Adhesives segment since its effective acquisition date. Net revenue attributable to Strathmore since the date of acquisition was $52.9 million. Pro forma information regarding Strathmore is provided below (in thousands, except per share amounts):


	Fiscal Years Ended March 31,
	2016		2015
Revenues, net	$	319,831	$	325,025
Operating income		47,486		50,443
Net income		25,471		32,012
Earnings per share – Basic		1.63		2.05
Earnings per share – Diluted		1.62		2.05

SureSeal Manufacturing

On January 2, 2015, we acquired selected assets and the SureSeal brand from SureSeal Manufacturing in Tacoma, Washington, a producer and distributor of waterless floor drain trap seals for an initial purchase price of $8.1 million. Of the total purchase price, $3.2 million has been paid using $2.9 million funded from borrowings and $0.3 million from available cash. The remaining purchase price is contingent upon SureSeal achieving certain performance metrics during the three- and six-year periods following the acquisition, and is based on a multiple of the lesser of gross margin or 67% of net sales during the final 12 months of the measurement period. A liability of $4.9 million was originally recorded based on the achievement of the performance metrics as estimated using a weighted average probability model. The excess of the purchase price over the fair value of the identifiable assets acquired was $4.5 million and was allocated to goodwill, which will be deductible for income tax purposes. Goodwill represents the value expected to be obtained from a more extensive product portfolio and leveraging our larger distributor network. The identifiable tangible and intangible assets included customer lists, trademarks and names, patents and a non-compete agreement of $1.8 million, $0.9 million, $0.6 million, and $0.1 million, respectively, as well as equipment of $0.2 million. Patents, customer lists and the non-compete agreement are being amortized over 15 years, 10 years and five years, respectively, while trademarks and goodwill are not being amortized. The SureSeal product line activity has been included in the Industrial Products segment since its acquisition date. No pro forma information has been provided due to immateriality.

Evo-Crete and Polyslab product lines

On August 15, 2014, we acquired the Evo-Crete and Polyslab product lines for $4.5 million from the Evolve Group located in Brisbane, Queensland and formed a new entity, RectorSeal Australia, Pty. Ltd. RectorSeal Australia focuses on the plumbing, HVAC and irrigation markets. Evo-Crete and Polyslab continue to be manufactured in Australia. The purchase was funded from borrowings of $3.0 million with the remainder funded from internal working capital. The excess of the purchase price over the fair value of the identifiable assets acquired was $1.5 million and was allocated to goodwill, which will be deductible for income tax purposes. Goodwill represents the value expected to be obtained from a more extensive HVAC product portfolio, especially in the condensate management niche, and expansion of existing RectorSeal product sales into the Australian market. The fair value of the assets acquired included customer lists, patents, trademarks and a non-compete agreement of $1.2 million, $0.7 million, $0.4 million, and $0.1 million, respectively, as well as property, plant, and equipment in the amount of $0.7 million. Customer lists, patents and the non-compete agreement are being amortized over 15 years, 10 years and five years, respectively, while trademarks and goodwill are not being amortized. The RectorSeal Australia activity has been included in the Industrial Products segment since the acquisition date. No pro forma information has been provided due to immateriality.

Fluid Defense Systems, LLC.

On January 31, 2014, we acquired the assets of Fluid Defense Systems, LLC (“Fluid Defense”), a manufacturer of fully integrated lubricant storage and handling solutions sold under the Oil Safe^® brand, for $5.6 million. The purchase was funded from borrowings of $5.0 million with the remainder funded from available cash. The excess of the purchase price over the fair value of the identifiable assets acquired was $1.7 million and was allocated to goodwill, which will be deductible for income tax purposes. Goodwill represents the value expected to be obtained from a more extensive lubrication solution product portfolio and leveraging our larger distributor network. The fair value of the assets acquired included customer lists, trademarks and patents and technology of $1.1 million, $1.0 million and $0.1 million, respectively, as well as working capital and property, plant, and equipment in the amounts of $1.4 million and $0.3 million, respectively. Trademarks, customer lists and patents and technology are being amortized over 20 years, 10 years and five to seven years, respectively, while goodwill is not being amortized. Fluid Defense activity has been included in the Industrial Products segment since the acquisition date. No pro forma information has been provided due to immateriality.

Resource Conservation Technologies, Inc.

On January 2, 2014, we acquired the assets of Resource Conservation Technologies, Inc. (“RCT”) for $18.5 million to enhance product offerings to the HVAC market. The purchase was funded from borrowings of $18.3 million with the remainder funded from available cash. The excess of the purchase price over the fair value of the identifiable assets acquired was $8.5 million and was allocated to goodwill, which will be deductible for income tax purposes. Goodwill represents the value expected to be obtained from a more extensive HVAC product portfolio and leveraging our larger distributor network. The fair value of the assets acquired included customer lists, patents, trademarks and a non-compete agreement of $5.8 million, $2.3 million, $1.7 million, and $0.1 million, respectively, as well as property, plant, and equipment in the amount of $0.1 million. Customer lists, patents and the non-compete agreement are being amortized over 10 years, five to 16 years and five years, respectively, while trademarks and goodwill are not being amortized. RCT activity has been included in the Industrial Products segment since the acquisition date. No pro forma information has been provided due to immateriality.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

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+ Details

Goodwill and Intangible Assets

12 Months Ended

Mar. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

3.	GOODWILL AND INTANGIBLE ASSETS

The changes in the carrying amount of goodwill for the fiscal years ended March 31, 2016 and 2015 were as follows (in thousands):


	Industrial Products			Coatings, Sealants and Adhesives		Specialty Chemicals		Total
Balance at April 1, 2014	$	30,996		$	920	$	3,402	$	35,318
Acquisition of SureSeal		4,502			—		—		4,502
Currency translation and other		825			—		—		825

Balance at March 31, 2015		36,323			920		3,402		40,645

Acquisition of Strathmore		—			17,395		—		17,395
Acquisition of Deacon		—			4,105		—		4,105
Acquisition of Leak Freeze		—			—		5,741		5,741
Currency translation		(129	)		—		—		(129	)

Balance at March 31, 2016	$	36,194		$	22,420	$	9,143	$	67,757

The following table provided information about out intangible assets for the fiscal years ended March 31, 2016 and 2015 (in thousands, except years):


			March 31, 2016					March 31, 2015
	Wtd Avg Life (Years)		Ending Gross Amount		Accumulated Amortization			Ending Gross Amount		Accumulated Amortization
Finite-lived intangible assets:
Patents		12	$	14,458	$	(8,600	)	$	14,284	$	(7,608	)
Customer lists and amortized trademarks		12		71,475		(17,080	)		37,091		(11,516	)
Non-compete agreements (a)		5		1,310		(405	)		2,877		(2,458	)
Other		12		3,769		(354	)		412		(137	)

			$	91,012	$	(26,439	)	$	54,664	$	(21,719	)

Trade names and trademarks not being amortized:			$	24,154	$	—		$	8,052	$	—

(a)	During the fiscal year ended March 31, 2016, we wrote off $2.9 million of expired and fully amortized non-compete agreements.

Amortization expense for the years ended March 31, 2016, 2015 and 2014 was $7.1 million, $4.6 million and $3.9 million, respectively. The following table presents the estimated future amortization of finite-lived intangible assets for the next five fiscal years ending March 31 (in thousands):


2017	$	7,363
2018		7,233
2019		6,385
2020		6,142
2021		5,919

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Executive Compensation

12 Months Ended

Mar. 31, 2016

Executive Officer [Member]

Executive Compensation

4.	EXECUTIVE COMPENSATION

On August 28, 2014, the board of directors of Capital Southwest adopted an executive compensation plan consisting of grants of nonqualified stock options, restricted stock and cash incentive awards to executive officers of Capital Southwest. The plan was intended to align the compensation of Capital Southwest’s executive officers with Capital Southwest’s key strategic objective of increasing the market value of Capital Southwest’s shares through a transformative transaction for the benefit of Capital Southwest’s shareholders. Under the plan, Joseph B. Armes, Kelly Tacke, and Bowen S. Diehl, receive an amount equal to 6.0% of the aggregate appreciation in Capital Southwest’s share price from August 28, 2014 (using a base price of $36.16 per share) to the Trigger Event Date (December 29, 2015). Effective immediately with the spin-off of CSWI, both Joseph B. Armes and Kelly Tacke became employees of CSWI and Bowen Diehl remained an employee of Capital Southwest. The initial plan component consists of nonqualified options awarded to purchase a total of 258,000 shares of common stock. The second plan component consists of total awards of 127,000 shares of restricted stock, which have voting rights, but do not have cash dividend rights. The final plan component consists of cash incentive payments awarded to each of Mr. Armes, Ms. Tacke and Mr. Diehl in an amount equal to the excess of each awardee’s allocable portion of the Total Payment Amount over the aggregate value as of the Trigger Event Date of the awardee’s restricted common stock and nonqualified option awards under the plan. The equity based awards vest or become exercisable, as applicable, as follows: (1) 1/3 on the Trigger Event Date; (2) 1/3 on the first anniversary of the Trigger Event Date; and (3) 1/3 on the second anniversary of the Trigger Event Date. Generally, entitlement to such awards is conditioned on the awardee remaining in the employment of the Capital Southwest or its subsidiaries on the vesting date, or in the event the employment of the awardee was transferred to CSWI, continuing employment by CSWI.

On September 8, 2015, the board of directors of Capital Southwest designated the Share Distribution as a transformative transaction for purposes of the executive compensation plan and amended the award agreements granted under the plan to provide for accelerated vesting of the awards held by an executive in the event of a termination of such executive’s service effected by the executive for good reason, by the employer without cause, or as a result of the disability or death of the executive. As a result of the Share Distribution completed on September 30, 2015, the Trigger Event Date was determined to be December 29, 2015.

As of December 29, 2015, the cash component of the executive compensation plan was calculated based on the volume weighted average price of Capital Southwest and CSWI common stock for the 20 trading days ended December 29, 2015. Effective with the Share Distribution, CSWI entered into an Employee Matters Agreement with Capital Southwest. Under this agreement, Capital Southwest will retain the obligation to fund the cash incentive awards granted under the Executive Compensation Plan, and all liabilities with respect to such cash incentive awards will remain liabilities of Capital Southwest. During the fiscal year ended March 31, 2016, we recorded total executive compensation expense for the cash incentive payments of $1.3 million for Mr. Armes and Ms. Tacke, and total stock compensation expense of $0.3 million. The remaining cash and stock compensation of $2.4 million and $1.2 million, respectively, will be recognized as compensation expense over the remaining vesting period.

Share-Based Compensation

12 Months Ended

Mar. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation

5.	SHARE-BASED COMPENSATION

In September 2015, in connection with the Share Distribution, we adopted our 2015 Equity and Incentive Compensation Plan (the “2015 Plan”), which provides for the issuance of up to 2,000,000 shares of CSWI common stock through the grant of stock options, stock appreciation rights, restricted shares, restricted stock units, performance shares, performance units or other share-based awards, to employees, officers and non-employee directors, as well as the issuance of awards in connection with the Share Distribution. As of March 31, 2016, 1,404,083 shares were available for issuance under the 2015 Plan, which includes the impact of 510,447 shares issued in connection with the Share Distribution and discussed below.

In connection with the Share Distribution, all stock option and restricted stock awards granted by Capital Southwest, including awards granted under the executive compensation plan discussed in Note 4, were adjusted and each holder of an award received both Capital Southwest and CSWI stock options and restricted stock awards.

•

Each Capital Southwest stock option was converted into both a Capital Southwest stock option and a CSWI stock option, with adjustments made to the exercise prices and number of shares subject to each option in order to preserve the aggregate intrinsic value of the original Capital Southwest stock option as measured immediately before and immediately after the Share Distribution, subject to rounding. The adjusted Capital Southwest stock options and CSWI stock options are subject to substantially the same terms, vesting conditions, post-termination exercise rules and other restrictions that applied to the original Capital Southwest stock options immediately before the Share Distribution. Options generally expire 10 years from the date of grant and generally vest on or after the first anniversary of the date of grant in five annual installments. The fair value of stock options is determined using the Black-Scholes pricing model and such fair value is expensed on a straight-line basis over the requisite service period.

•

The Capital Southwest restricted stock awards will remain outstanding and the awardees additionally received one share of CSWI restricted stock for each share of Capital Southwest restricted stock held, which shares are subject to substantially the same terms, vesting conditions and other restrictions applicable to the Capital Southwest restricted stock award immediately before the Share Distribution. Restricted Stock awards generally have full voting and dividend rights, but are restricted with regard to sale or transfer. Unless otherwise specified in the award agreement, the restrictions do not expire for a minimum of one year and a maximum of five years and are subject to forfeiture during the restriction period. Typically, restricted share grants have staggered vesting periods over one to five years from the grant date. The fair value of restricted stock is based on the closing price of common stock on the date of grant and such fair value is expensed on a straight-line basis over the requisite service period.

The issuance of share-based compensation awards discussed above occurred in conjunction with the Share Distribution after the market closed on September 30, 2015. We record compensation expense for share-based awards granted by CSWI to CSWI employees and share-based awards granted by Capital Southwest to employees who are now employed by CSWI.

We recorded share-based compensation as follows for the fiscal year ended March 31, 2016 (in thousands):


	Fiscal Year Ended March 31, 2016
	Stock Options			Restricted Stock			Total
Share-based compensation expense	$	206		$	750		$	956
Related income tax benefit		(72	)		(263	)		(335	)

Net share-based compensation expense	$	134		$	487		$	621

No share-based compensation expense was recorded prior to October 1, 2015.

Stock option activity, which represents outstanding CSWI awards, including awards held by Capital Southwest employees is as follows:


	Fiscal Year Ended March 31, 2016
	Number of Shares			Weighted Average Exercise Price		Remaining Contractual Life (Years)		Aggregate Intrinsic Value (in Millions)
Outstanding at April 1, 2015		—		$	—
Granted		368,487			24.40
Exercised		(5,974	)		16.11
Canceled		—			—

Outstanding at March 31, 2016		362,513		$	24.53		8.0	$	2.7

Exercisable at March 31, 2016		131,161		$	23.67		7.5	$	1.1

At March 31, 2016, we had unrecognized compensation cost related to non-vested stock options of $0.8 million, which will be amortized into net income over the remaining weighted average vesting period of approximately 1.9 years. The calculation of unrecognized compensation cost and weighted average periods include share-based awards granted by CSWI to CSWI employees and share-based awards granted by Capital Southwest to employees who are now employed by CSWI. Other than options granted in conjunction with the Share Distribution, which were granted at a weighted average fair value of $6.67 per share, no options were granted during the fiscal year ended March 31, 2016. No options were exercised during the fiscal year ended March 31, 2015. The total fair value of stock options vested during the fiscal year ended March 31, 2016 was $0.5 million.

Restricted stock activity, which represents outstanding CSWI awards, including awards held by Capital Southwest employees is as follows:


	Number of Shares			Weighted Average Grant Date Fair Value
Outstanding at April 1, 2015		—		$	—
Granted		230,706			22.14
Vested		(45,453	)		15.41
Canceled		(3,276	)		28.21

Outstanding at March 31, 2016		181,977		$	23.72

During the restriction period, the holders of restricted stock are entitled to vote and receive dividends, except for restricted shares awarded under the executive compensation plan discussed in Note 4. At March 31, 2016, we had unrecognized compensation cost related to unvested restricted shares of $3.0 million, which will be amortized into net income over the remaining weighted average vesting period of approximately 2.0 years. The calculation of unrecognized compensation cost and weighted average periods include share-based awards granted by CSWI to CSWI employees and share-based awards granted by Capital Southwest to employees who are now employed by CSWI. The total fair value of restricted shares vested during the fiscal year ended March 31, 2016 was $0.7 million.

Restricted stock granted during the fiscal year ended March 31, 2016 includes 17,449 shares with market-based vesting provisions, and vesting ranges from 0-100% based on pre-defined performance targets. Market-based restricted stock is earned upon the achievement of performance targets and is payable in common shares. Compensation expense is recognized over a 36-month cliff vesting period.

Details of Certain Consolidated Balance Sheet Captions

12 Months Ended

Mar. 31, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Details of Certain Consolidated Balance Sheet Captions

6.	DETAILS OF CERTAIN CONSOLIDATED BALANCE SHEET CAPTIONS

Accounts receivable, net consists of the following (in thousands):


	March 31,
	2016			2015
Accounts receivable trade	$	53,423		$	50,487
Other receivables		422			146

		53,845			50,633
Less: Allowance for doubtful accounts		(1,208	)		(1,692	)

Accounts receivable, net	$	52,637		$	48,941

Inventories, net consist of the following (in thousands):


	March 31,
	2016			2015
Raw materials and supplies	$	26,019		$	21,837
Work in process		5,432			5,626
Finished goods		26,087			25,325

Total inventories		57,538			52,788
Less: LIFO reserve		(5,302	)		(5,456	)
Less: Obsolescence reserve		(602	)		(157	)

Inventories, net	$	51,634		$	47,175

Property, plant and equipment, net, consist of the following (in thousands):


	March 31,
	2016			2015
Land improvements	$	2,129		$	2,129
Buildings and improvements		46,004			42,191
Plant, office and laboratory equipment		65,732			62,358

		113,865			106,678
Less: Accumulated depreciation		(59,035	)		(52,954	)

		54,830			53,724
Land		2,610			1,242
Construction in progress		6,917			1,871

Property, plant and equipment, net	$	64,357		$	56,837

Depreciation of property, plant and equipment was $7.0 million, $5.9 million and $5.2 million for the fiscal years ended March 31, 2016, 2015 and 2014, respectively. Of these amounts, cost of revenues includes $4.6 million, $3.9 million and $3.2 million, respectively.

Other assets consists of the following (in thousands):


	March 31,
	2016		2015
Property held for investment (a)	$	9,290	$	9,300
Deferred income taxes		—		5,651
Retirement assets in excess of benefit obligations		2,063		338
Other		4,545		457

Other assets	$	15,898	$	15,746


(a) As of March 31, 2016, $6.2 million in assets were held for sale.

Accrued and other current expenses consist of the following (in thousands):


	March 31,
	2016		2015
Compensation and related benefits	$	12,502	$	9,212
Rebates and marketing agreements		1,976		1,515
Commissions		1,378		1,157
Sales and property taxes		517		373
Other accrued expenses		4,717		3,744

Accrued and other current liabilities	$	21,090	$	16,001

Other liabilities consists of the following (in thousands):


	March 31,
	2016		2015
Contingent consideration	$	5,854	$	5,115
Deferred income taxes		3,793		—
Other		2,173		2,595

Other liabilities	$	11,820	$	7,710

Long-Term Debt

12 Months Ended

Mar. 31, 2016

Debt Disclosure [Abstract]

Long-Term Debt

7.	LONG-TERM DEBT

Debt consists of the following (in thousands):


	March 31,
	2016			2015
Revolving Credit Facility, interest rate of 2.18%	$	76,539		$	—
RectorSeal line of credit, interest rate of 1.77%		—			13,000
Whitmore term loan, interest rate of 2.43% and 2.17%, respectively		13,143			13,704

Total debt		89,682			26,704
Less: Current portion		(561	)		(13,561	)

Long-term debt	$	89,121		$	13,143

Revolving Credit Facility Agreement

On December 11, 2015, we entered into a five-year $250.0 million revolving credit facility agreement (“Revolving Credit Facility”), with an additional $50.0 million accordion feature, with JPMorgan Chase Bank, N.A., as administrative agent. Borrowings under this facility bear interest at a rate of prime plus 0.75% or London Interbank Offered Rate (“LIBOR”) plus 1.75%, which may be adjusted based on our leverage ratio. We pay a commitment fee of 0.25% for the unutilized portion of the Revolving Credit Facility. Interest and commitment fees are payable at least quarterly and the outstanding principal balance is due at maturity. This facility is secured by substantially all of our assets. Borrowings under this facility were used as follows: (1) to repay the principal and interest outstanding under the RectorSeal Line of Credit and the Strathmore Acquisition Term Loan, (2) to pay fees incurred to enter into the agreement and (3) to acquire Leak Freeze. As of March 31, 2016, we had $76.5 million in outstanding borrowings under this facility. The agreement contains certain restrictive covenants, including requiring us to maintain a minimum fixed charge coverage of ratio of 1.25 to 1.00 and a maximum leverage ratio of EBITDA to Funded Debt (as defined in the agreement) of 3.00 to 1.00. Covenant compliance is tested quarterly and we were in compliance with all covenants as of March 31, 2016. Interest payments related to a portion of the outstanding balance under the Revolving Credit Facility are hedged under an interest rate swap agreement as described in Note 9.

During April 2016, we repaid $5.0 million of the amount that was outstanding at March 31, 2016 under this facility.

RectorSeal Line of Credit

RectorSeal had a $30.0 million secured line of credit with a bank available for acquisitions and general corporate purposes, which was scheduled to mature on July 31, 2016. Quarterly interest payments were required. Borrowings under the line of credit bore interest at a variable annual rate of either the one month LIBOR plus 1.5% or 0.75% less than the bank floating rate. The line of credit was secured by accounts receivable, inventory, equipment, investments, and other assets of RectorSeal (excluding its subsidiaries). As of March 31, 2015, RectorSeal had $13.0 million in outstanding borrowings under the line of credit. The remaining principal balance of $6.5 million was repaid on December 11, 2015 with borrowings under the Revolving Credit Facility, and the line of credit was terminated.

Strathmore Acquisition Term Loan

Whitmore had a $70.0 million secured term loan outstanding to support the acquisition of Strathmore. The term loan was scheduled to mature on April 27, 2020 and was secured by the assets of Whitmore and Strathmore, excluding certain real property. Borrowings under the term loan bore interest at a variable annual rate equal to one month LIBOR plus 3.0%. We made quarterly payments of $875,000 in both July 2015 and October 2015. The remaining principal balance of $68.3 million was repaid on December 11, 2015 with borrowings under the Revolving Credit Facility, and the term loan was terminated.

Whitmore Line of Credit

Whitmore had a $20.0 million secured line of credit with a syndicate of four commercial banks available for general corporate purposes, which was scheduled to mature on April 27, 2020. Borrowings under the line of credit bore interest at a variable annual rate of 0.5% less than the bank floating rate. Whitmore repaid the entire balance during the quarter ended December 31, 2014. This line of credit was terminated in conjunction with our Revolving Credit Facility.

Whitmore Term Loan

As of March 31, 2016, Whitmore had a secured term loan outstanding related to a newly constructed warehouse and corporate office building and the remodel of an existing manufacturing and research and development facility. The term loan matures on July 31, 2029, and Whitmore has quarterly payments of $140,000 due in each of the next four quarters. Borrowings under the term loan bear interest at a variable annual rate equal to one month LIBOR plus 2.0%. As of March 31, 2016 and 2015, Whitmore had $13.1 million and $13.7 million, respectively, in outstanding borrowings under the term loan. Interest payments under the Whitmore term loan are hedged under an interest rate swap agreement as described in Note 9.

Balco Line of Credit

Balco had a $1.5 million unsecured revolving line of credit with a bank available for working capital purposes that matured on October 29, 2015 and was not renewed. Borrowings under the line of credit bore interest at a variable annual rate of 0.5% less than the U.S. prime interest rate, with a floor of 3.75%. As of March 31, 2015, Balco had no outstanding borrowings under the line of credit.

Future Minimum Debt Payments

Future minimum debt payments are as follows for fiscal years ending March 31 (in thousands):


2017	$	561
2018		561
2019		561
2020		561
2021		77,100
Thereafter		10,338

Total	$	89,682

Operating Leases

We have entered into non-cancelable operating leases with initial terms in excess of one year for manufacturing and office facilities. The leases expire at various times through 2031. Future minimum lease payments under these leases for fiscal years ending March 31 are as follows (in thousands):


2017	$	2,364
2018		1,733
2019		1,467
2020		1,404
2021		1,238
Thereafter		4,648

Total	$	12,854

Rental expense under operating leases was $2.6 million, $2.4 million and $2.1 million for the fiscal years ended March 31, 2016, 2015 and 2014, respectively.

Earnings Per Share

12 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Earnings Per Share

8.	EARNINGS PER SHARE

On September 30, 2015, 15.6 million CSWI common shares were distributed to Capital Southwest shareholders in connection with the Share Distribution. For comparative purposes, and to provide a more meaningful calculation for weighted average shares, this amount was assumed to be outstanding throughout all periods presented up to and including September 30, 2015 in the calculation of basic weighted average shares. In addition, for the dilutive weighted average share calculations, the dilutive securities outstanding at September 30, 2015 were also assumed to be outstanding throughout all periods presented up to and including September 30, 2015.

The following table sets forth the reconciliation of the numerator and the denominator of basic and diluted earnings per share for the fiscal years ended March 31, 2016, 2015 and 2014 (amounts in thousands, except per share data):


	Fiscal Years Ended March 31,
	2016		2015		2014
Net income for basic and diluted earnings per share	$	25,471	$	29,705	$	24,732
Weighted average shares:
Common stock		15,443		15,441		15,441
Participating securities		182		142		142

Denominator for basic earnings per common share		15,625		15,583		15,583
Potentially dilutive securities (a)		50		41		41

Denominator for diluted earnings per common share		15,675		15,624		15,624

Earnings per common share:
Basic	$	1.63	$	1.91	$	1.59
Diluted		1.62		1.90		1.58

(a)	No shares were excluded for anti-dilution for the fiscal year ended March 31, 2016. We have excluded 29,877 shares for each of the fiscal years ended March 31, 2015 and 2014 as their effect would have been anti-dilutive.

Derivative Instruments and Hedge Accounting

12 Months Ended

Mar. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedge Accounting

9.	DERIVATIVE INSTRUMENTS AND HEDGE ACCOUNTING

We enter into interest rate swap agreements to hedge exposure to floating interest rates on certain portions of our debt. As of March 31, 2016 and 2015, we had $46.4 million and $13.7 million, respectively, of notional amount in outstanding designated interest rate swaps with third parties. All interest rate swaps are highly effective. At March 31, 2016, the maximum remaining length of any interest rate swap contract in place was approximately 13.3 years.

We are exposed to risk from credit-related losses resulting from nonperformance by counterparties to our financial instruments. We perform credit evaluation of our counterparties under interest rate swap agreements and expect all counterparties to meet their obligations. We have not experienced credit losses from our counterparties.

The fair value of interest rate swaps designated as hedging instruments are summarized below (in thousands):


	March 31,
	2016		2015
Current derivative liabilities	$	511	$	—
Non-current derivative liabilities		1,366		1,206

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details

Fair Value Measurements

12 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value Measurements

10.

FAIR VALUE MEASUREMENTS

The fair value of interest rate swaps discussed in Note 9 are determined using Level 2 inputs. The carrying value of our debt, included in Note 7, approximates fair value as it bears interest at floating rates. The carrying amounts of other financial instruments (i.e., cash and cash equivalents, restricted cash, bank time deposits, accounts receivable, net, accounts payable) approximated their fair values at March 31, 2016 and 2015 due to their short-term nature.

The fair value of contingent payments was $5.9 million, which includes the addition of a $0.4 million contingent payment for Deacon, and $5.1 million as of March 31, 2016 and 2015, respectively. During the fiscal year ended March 31, 2016, the fair value of the contingent payment related to the SureSeal acquisition increased by $0.4 million, net to $5.5 million due primarily to accretion. During the fiscal year ended March 31, 2016, the fair value of the contingent payment recorded related to the Strathmore acquisition was reduced by $2.0 million to $0 due to a decline in the probability that Strathmore would meet the minimum threshold for payment. All changes in the fair value of contingent payments are recorded in selling, general and administrative expense.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Retirement Plans

12 Months Ended

Mar. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Retirement Plans

11.

RETIREMENT PLANS

Defined Benefit Plans

We maintain a qualified defined benefit pension plan (the “Qualified Plan”) that covers substantially all of our U.S. employees. Benefits are based on years of service and an average of the highest five consecutive years of compensation during the last ten years of employment. The Qualified Plan is closed to any employees hired or re-hired on or after January 1, 2015. The Qualified Plan has been amended to freeze benefit accruals and to modify certain ancillary benefits provided under the Qualified Plan effective as of September 30, 2015. A remeasurement was performed at September 30, 2015 to reflect the amendment of the Qualified Plan that froze participation and all future benefit accruals. The freeze of the Qualified Plan as of September 30, 2015 required the immediate recognition of a curtailment gain due to the accelerated recognition of all remaining prior service costs (benefits) and the decrease in the projected benefit obligation. The freeze of the Qualified Plan will reduce net periodic pension expense for the remainder of the current year based on the remeasurement.

The funding policy of the plan is to contribute annual amounts that are currently deductible for federal income tax purposes. No contributions were made in the fiscal year ended March 31, 2016, 2015 or 2014.

The following are assumptions related to the Qualified Plan:


	Year ended March 31,
	2016			2015			2014
Assumptions used to determine benefit obligations:
Discount rate		4.50	%		4.25	%		5.00	%
Rate of compensation increases		(a	)		5.00	%		5.00	%
Assumptions used to determine net pension expense:
Discount rate		4.25	%		5.00	%		4.50	%
Expected return on plan assets		7.00	%		7.00	%		7.00	%
Rate of compensation increases		(a	)		5.00	%		5.00	%

(a) Rate of compensation increase is no longer relevant due to the freeze of the Qualified Plan.

The factors used in determination of these assumptions are described in Note 1.

Net pension expense for the Qualified Plan was (in thousands):


	For the year ended March 31,
	2016			2015			2014
Service cost – benefits earned during the year	$	2,042		$	3,039		$	2,965
Interest cost on projected benefit obligation		2,666			2,513			2,066
Expected return on assets		(3,226	)		(2,406	)		(2,115	)
Net amortization and deferral		(27	)		58			363
Curtailment benefit		(8,051	)		—			—

Net pension (benefit) expense	$	(6,596	)	$	3,204		$	3,279

The estimated prior service costs and the estimated net loss for the Qualified Plan that will be amortized from accumulated other comprehensive loss into pension expense in the fiscal year ended March 31, 2017 is $0 and $0, respectively.

The following is a summary of the changes in the Qualified Plan’s pension obligations (in thousands):


	March 31,
	2016			2015
Benefit obligation at beginning of year	$	64,015		$	50,344
Service cost		2,042			3,039
Interest cost		2,666			2,513
Actuarial loss		(2,589	)		9,033
Benefits paid		(1,410	)		(914	)
Curtailment impact		(14,238	)		—
Impact of Share Distribution (a)		8,329			—

Benefit obligation at end of year	$	58,815		$	64,015

Accumulated benefit obligation	$	58,815		$	50,081


(a) Additional obligations were included related to employees who transferred from Capital Southwest to CSWI upon completion of the Share Distribution.

The following is a reconciliation of the Qualified Plan’s assets (in thousands):


	March 31,
	2016			2015
Fair value of plan assets at beginning of year	$	43,087		$	42,124
Actual return on plan assets		578			1,877
Benefits paid		(1,410	)		(914	)
Impact of Share Distribution (a)		18,623			—

Fair value of plan assets at end of year	$	60,878		$	43,087


(a) Assets previously held by Capital Southwest were contributed to CSWI in conjunction with the Share Distribution.

The following summarizes the net pension asset (liability) for the Qualified Plan (in thousands):


	March 31,
	2016			2015
Plan assets at fair value	$	60,878		$	43,087
Benefit obligation		(58,815	)		(64,015	)

Funded status	$	2,063		$	(20,928	)

The following summarizes amounts recognized in the balance sheet for the Qualified Plan (in thousands):


	March 31,
	2016		2015
Noncurrent assets	$	2,063	$	—
Noncurrent liabilities		—		(20,928	)

Funded status	$	2,063	$	(20,928	)

The following table presents the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in the benefit obligation (in thousands):


	March 31,
	2016			2015
Accumulated other comprehensive (loss) income at beginning of year	$	(4,707	)	$	1,493
Amortization of net loss		—			74
Amortization of prior service credit		(18	)		(36	)
Curtailment impact		5,233			—
Impact of Share Distribution		35			—
Net loss arising during the year		(1,433	)		(6,238	)

Accumulated other comprehensive loss at end of year	$	(890	)	$	(4,707	)

Amounts recorded in accumulated other comprehensive loss consist of (in thousands):


	March 31,
	2016			2015
Net prior service cost	$	—		$	279
Net loss		(890	)		(4,986	)

Accumulated other comprehensive loss	$	(890	)	$	(4,707	)

The current target allocations for managed plan assets are 25% – 43% equity securities, 40% – 65% for fixed income securities and 5% – 15% for alternatives. The actual asset allocations for the Qualified Plan are as follows:


	As of March 31,
Asset category	2016			2015
Equity securities		35	%		58	%
Fixed income securities		59	%		36	%
Other		2	%		3	%
Cash and cash equivalents		4	%		3	%

Total		100	%		100	%

The Qualified Plan’s financial instruments, shown below, are presented at fair value, as described in Note 1. The fair values of our Qualified Plan assets were:


	As of March 31, 2016								As of March 31, 2015
			Hierarchical Levels								Hierarchical Levels
Asset category	Total		I		II		III		Total		I		II		III
Equity securities (a)	$	21,183	$	2,455	$	18,728	$	—	$	24,928	$	13,647	$	11,281	$	—
Fixed income securities (b)		35,719		3,979		31,740		—		15,400		1,488		13,912		—
Other (c)		1,474		935		539		—		1,252		754		498		—
Cash and cash equivalents		2,502		2,502		—		—		1,507		1,507		—		—

Total	$	60,878	$	9,871	$	51,007	$	—	$	43,087	$	17,396	$	25,691	$	—

(a)

This category includes investment in equity securities of large, medium and small companies and equity investments in foreign companies. Mutual funds included in this category are valued using the net asset value per unit as of the valuation date. These investments include shares of Capital Southwest common stock. As of March 31, 2016 and 2015, Capital Southwest common stock represented 1.2% and 17.7%, respectively, of the fair value of the plan assets and CSWI common stock represented 1.9% and 0%, respectively, of the fair value of the plan assets.

(b)	This category includes investments in investment grade fixed income instruments, primarily U.S. government obligations.

(c)	This category includes investments in commodity linked and real estate funds within the U.S.

The following table summarizes the expected cash benefit payments for the Qualified Plan for fiscal years ending March 31 (in millions):


2017	$	2.1
2018		2.3
2019		2.5
2020		2.8
2021		2.9
2022-2026		16.9

One of our foreign subsidiaries has a defined benefit plan covering substantially all of its employees. Assets, liabilities and expenses related to this plan are immaterial to CSWI.

Restoration Plan

We maintain an unfunded retirement restoration plan (the “Restoration Plan”) that is a non-qualified plan providing for the payment to participating employees, upon retirement, the difference between the maximum annual payment permissible under the Qualified Plan pursuant to federal limitations and the amount that would otherwise have been payable under the Qualified Plan.

The following are assumptions related to the Restoration Plan:


	Year ended March 31,
	2016			2015			2014
Assumptions used to determine benefit obligations:
Discount rate		4.50	%		4.25	%		5.00	%
Rate of compensation increases		(a	)		5.00	%		5.00	%
Assumptions used to determine net pension expense:
Discount rate		4.25	%		5.00	%		4.50	%
Rate of compensation increases		(a	)		5.00	%		5.00	%

(a) Rate of compensation increase is no longer relevant due to the freeze of the Qualified Plan.

The factors used in determination of these assumptions are described in Note 1.

Net pension expense for the Restoration Plan was (in thousands):


	For the year ended March 31,
	2016		2015		2014
Service cost – benefits earned during the year	$	27	$	66	$	65
Interest cost on projected benefit obligation		73		66		61
Net amortization and deferral		36		63		66
Curtailment expense		31		—		—

Net pension expense	$	167	$	195	$	192

The estimated prior service costs and the estimated net loss for the Restoration Plan that will be amortized from accumulated other comprehensive loss into pension expense in the fiscal year ended March 31, 2017 is $0 and less than $0.1 million, respectively.

The following is a summary of the changes in the Restoration Plan’s pension obligations (in thousands):


	March 31,
	2016			2015
Benefit obligation at beginning of year	$	1,616		$	1,513
Service cost		27			66
Interest cost		73			66
Actuarial loss (gain)		304			(29	)
Curtailment impact		(555	)		—
Benefits paid		(6	)		—
Impact of Share Distribution (a)		287			—

Benefit obligation at end of year	$	1,746		$	1,616

Accumulated benefit obligation	$	1,746		$	1,423

(a)

Additional obligations were included related to employees who transferred from Capital Southwest to CSWI upon completion of the Share Distribution.

The following summarizes amounts recognized in the balance sheet for the Restoration Plan (in thousands):


	March 31,
	2016			2015
Noncurrent liabilities	$	(1,746	)	$	(1,616	)

Funded status	$	(1,746	)	$	(1,616	)

The following table presents the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in the benefit obligation (in thousands):


	March 31,
	2016			2015
Accumulated other comprehensive loss at beginning of year	$	(503	)	$	(396	)
Amortization of net loss		20			14
Amortization of prior service (credit) cost		(3	)		6
Curtailment impact		(20	)		—
Impact of Share Distribution (a)		(502	)		—
Net gain (loss) arising during the year		669			(127	)

Accumulated other comprehensive loss at end of year	$	(339	)	$	(503	)


(a) Deferred losses attributable to obligations related to employees who transferred from Capital Southwest to CSWI upon completion of the Share Distribution.

Amounts recorded in accumulated other comprehensive loss consist of (in thousands):


	March 31,
	2016			2015
Net prior service credit	$	—		$	(23	)
Net loss		(339	)		(480	)

Accumulated other comprehensive loss	$	(339	)	$	(503	)

The following table summarizes the expected cash benefit payments for the Restoration Plan for fiscal years ending March 31 (in millions):


2017	$	0.1
2018		0.1
2019		0.1
2020		0.1
2021		0.1
2022-2026		0.5

Defined Contribution Plan

Effective October 1, 2015, we began to sponsor a defined contribution plan covering substantially all of our U.S. employees. Employees may contribute to this plan, and these contributions are matched by us up to the first 6.0% contributed by the employee. Additionally, we contribute 3.0% of eligible earnings to employees regardless of their level of participation in the plan, which is discretionary and subject to adjustment based on profitability. Contributions to the defined contribution plan were $1.7 million for the year ended March 31, 2016.

Employee Stock Ownership Plan

Prior to the Share Distribution, RectorSeal and Whitmore each sponsored qualified, non-leveraged employee stock ownership plans (“ESOP”) in which eligible domestic employees of RectorSeal, Jet-Lube, Smoke Guard and Whitmore were eligible to participate following the completion of one year of service. The ESOPs provided annual discretionary contributions of up to the maximum amount that is deductible under the Internal Revenue Code. Contributions to the ESOPs were invested in Capital Southwest common stock. A participant’s interest in contributions to the ESOPs fully vests after three years of credited service or upon retirement, permanent disability (each, as defined in the plan document) or death. RectorSeal and Whitmore recorded total contributions to the ESOPs of $1.6 million and $2.3 million during the fiscal years ended March 31, 2015 and 2014, respectively. The ESOPs held 929,600 and 898,177 shares of Capital Southwest common stock as of March 31, 2015 and 2014, respectively.

Effective with the Share Distribution, Whitmore’s ESOP was merged into RectorSeal’s ESOP, sponsorship of RectorSeal’s ESOP was transferred to CSWI and eligible domestic employees of CSWI and Balco were included. Employees of Strathmore will become eligible for participation in the fiscal year ending March 31, 2017. During the fiscal year ended March 31, 2016, $1.7 million was contributed to the ESOP based on performance in the fiscal year ended March 31, 2015. Future contributions to the ESOP will be invested in CSWI common stock. During the fiscal year ended March 31, 2016, $2.1 million was recorded to expense based on performance in the fiscal year ended March 31, 2016 and is expected to be contributed to the ESOP in the fiscal year ending March 31, 2017. The ESOP held 907,748 shares of both Capital Southwest and CSWI common stock as of March 31, 2016.

Income Taxes

12 Months Ended

Mar. 31, 2016

Income Tax Disclosure [Abstract]

Income Taxes

12.

INCOME TAXES

Income before income taxes was comprised of the following (in thousands):


	Fiscal Years Ended March 31,
	2016		2015		2014
U.S. Federal	$	40,981	$	39,511	$	31,241
Foreign		3,244		5,417		6,285

Income before income taxes	$	44,225	$	44,928	$	37,526

Income tax expense consists of the following (in thousands):


	Current		Deferred			Total
Fiscal year ended March 31, 2016:
U.S. Federal	$	9,210	$	7,573		$	16,783
State and local		1,368		(136	)		1,232
Foreign		914		(175	)		739

Provision for income taxes	$	11,492	$	7,262		$	18,754

Fiscal year ended March 31, 2015:
U.S. Federal	$	14,920	$	(1,848	)	$	13,072
State and local		933		3			936
Foreign		1,637		(422	)		1,215

Provision for income taxes	$	17,490	$	(2,267	)	$	15,223

Fiscal year ended March 31, 2014:
U.S. Federal	$	11,570	$	(567	)	$	11,003
State and local		475		(74	)		401
Foreign		1,374		16			1,390

Provision for income taxes	$	13,419	$	(625	)	$	12,794

Income tax expense differed from the amounts computed by applying the U.S. federal statutory income tax rate of 35% to income before income taxes as a result of the following (in thousands):


	Fiscal Years Ended March 31,
	2016			2015			2014
Computed tax expense at statutory rate	$	15,479		$	15,727		$	13,225
Increase (reduction) in income taxes resulting from:
Permanent differences		1,399			529			542
FIN 48 liability		1,277			—			—
State and local income taxes, net of federal benefits		1,055			569			205
Foreign rate differential		(642	)		(75	)		(168	)
Domestic production activity deduction		(420	)		(817	)		(719	)
Difference in U.S. rate		(107	)		(45	)		108
Other, net		713			(665	)		(399	)

Provision for income taxes	$	18,754		$	15,223		$	12,794

The effective tax rates for the fiscal years ended March 31, 2016, 2015 and 2014 were 42.4%, 33.9% and 34.1%, respectively. The current year tax rate was higher, compared to the prior years, as a result of transaction costs incurred with the Share Distribution that are not deductible for tax purposes, a reserve for uncertain tax positions and acquisition-related costs. Other items impacting the effective tax rate include foreign operations activities in countries with lower statutory rates and domestic operations activity in states with higher statutory rates.

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at March 31 are presented below (in thousands):


	As of March 31,
	2016			2015
Deferred tax assets:
Inventory reserves	$	2,319		$	1,540
Accrued compensation		1,712			694
Accrued expenses		370			138
Net operating loss carryforwards		160			—
Pension and other employee benefits		38			8,370
Other, net		2,289			1,119

Deferred tax assets		6,888			11,861
Valuation allowance		(107	)		—

Deferred tax assets, net of valuation allowance		6,781			11,861

Deferred tax liabilities:
Property, plant and equipment		(5,819	)		(4,239	)
Goodwill and intangible assets		(2,567	)		(1,473	)
FIN 48 liability		(1,277	)		—
1031 Exchanges		(716	)		(460	)
Other, net		(195	)		(38	)

Deferred tax liabilities		(10,574	)		(6,210	)

Net deferred tax (liabilities) assets	$	(3,793	)	$	5,651

As of March 31, 2016, we had $0.2 million in tax effected net operating loss carryforwards. Net operating loss carryforwards will expire in periods beyond the next five years. No provision is made for U.S. income and foreign withholding taxes applicable to undistributed earnings of certain foreign entities since these earnings are considered to be permanently reinvested.

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):


Balance at March 31, 2015	$	—
Increases related to prior year tax positions		900

Balance at March 31, 2016	$	900

We have accrued interest and penalties on uncertain tax positions of $0.2 million and $0.2 million, respectively for the year ended March 31, 2016. We did not recognize any interest and penalties for uncertain tax positions for the fiscal years ended March 31, 2015 or 2014. We are currently not under examination for any of our U.S. federal income taxes. For the fiscal year ended March 31, 2016, as a member of a controlled group, our subsidiaries were allocated certain federal tax brackets such that $10.0 million was taxed at 34%.

Related Party Transactions

12 Months Ended

Mar. 31, 2016

Related Party Transactions

13.

RELATED PARTY TRANSACTIONS

We paid $0.2 million, $0.5 million and $0.5 million in management fees for the fiscal years ended March 31, 2016, 2015 and 2014 to a management company subsidiary of Capital Southwest for services rendered during each respective fiscal year. These amounts are presented in Selling, general and administrative expenses in the consolidated income statements, and payments ceased in connection with the Share Distribution.

We paid $0.3 million, $8.3 million and $8.7 million in dividends to Capital Southwest during the fiscal years ended March 31, 2016, 2015 and 2014, respectively, as Capital Southwest was our sole shareholder until the Share Distribution.

As of March 31, 2016, 907,748 shares of Capital Southwest stock were held under the ESOP and 52,570 shares of Capital Southwest stock were held in the Qualified Plan.

Tax Matters Agreement – We entered into a tax matters agreement with Capital Southwest (the “Tax Matters Agreement”). The Tax Matters Agreement generally governs our and Capital Southwest’s respective rights, responsibilities and obligations with respect to taxes in connection with the Share Distribution. The Tax Matters Agreement provides that we will be liable for taxes incurred by Capital Southwest as a result of our taking or failing to take certain actions that result in the Share Distribution failing to meet the requirements of a tax-free distribution under the Internal Revenue Code. The Tax Matters Agreement also restricts our and Capital Southwest’s ability to take actions that could cause the Share Distribution to fail to meet the requirements of a tax-free distribution under the Code. These restrictions may prevent us and Capital Southwest from entering into transactions that might be advantageous to us or our stockholders. The term of the Tax Matters Agreement is perpetual, unless the agreement is terminated by mutual consent of both parties.

Employee Matters Agreement – We entered into an employee matters agreement with Capital Southwest prior to the Distribution Date (the “Employee Matters Agreement”). The Employee Matters Agreement allocates liabilities and responsibilities between us and Capital Southwest relating to employee compensation and benefit plans and programs, including the treatment of certain employment agreements, outstanding annual and long-term incentive awards, and health and welfare benefit obligations and provide for the cooperation between us and Capital Southwest in the sharing of employee information.

In general, following the Share Distribution, we will be responsible for all employment and benefit-related obligations and liabilities related to those individuals employed by Capital Southwest or one of the contributed businesses prior to the Share Distribution and whose employment was transferred to us in connection with the Share Distribution. In general, Capital Southwest will be responsible for any employment and benefit-related obligations and liabilities of any employees who continue to be employees of Capital Southwest following the Share Distribution. The term of the Employee Matters Agreement is perpetual, unless the agreement is terminated by mutual consent of both parties.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Contingencies

12 Months Ended

Mar. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

Contingencies

14.

CONTINGENCIES

From time to time, we are involved in various claims and legal actions which arise in the ordinary course of business. There are not any matters pending that we currently believe are reasonably possible of having a material impact to our business, consolidated financial position, results of operations or cash flows.

Other Comprehensive Income

12 Months Ended

Mar. 31, 2016

Equity [Abstract]

Other Comprehensive Income

15.

OTHER COMPREHENSIVE INCOME

The following table provides an analysis of the changes in accumulated other comprehensive income (loss) (in thousands).


	Fiscal Years Ended March 31,
	2016			2015
Currency translation adjustments:
Balance at beginning of period	$	(3,877	)	$	1,400
Adjustments for foreign currency translation		(1,371	)		(5,277	)

Balance at end of period	$	(5,248	)	$	(3,877	)

Interest rate swaps:
Balance at beginning of period	$	(1,206	)	$	—
Unrealized gains, net of taxes of $219 and $649, respectively		(407	)		(1,206	)
Reclassification of losses included in interest expense, net, net of taxes of $(211)		392			—

Other comprehensive income (loss)		(15	)		(1,206	)

Balance at end of period	$	(1,221	)	$	(1,206	)

Defined benefit plans:
Balance at beginning of period	$	(5,210	)	$	1,097
Amortization of net prior service benefit, net of taxes of $11 and $16, respectively (a)		(21	)		(30	)
Amortization of net loss, net of taxes of $(11) and $(47), respectively (a)		20			88
Net loss arising during the year, net of tax of $411 and $3,427, respectively		(764	)		(6,365	)
Impact of Share Distribution, net of tax of $251		(467	)		—
Curtailment, net of taxes of $(2,807)		5,213			—

Other comprehensive income (loss)		3,981			(6,307	)

Balance at end of period	$	(1,229	)	$	(5,210	)

(a)	Amortization of prior service costs and actuarial losses out of accumulated other comprehensive loss are included in the computation of net periodic pension expenses. See Note 11 for additional information.

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=36458714&loc=SL7669619-108580

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e640-108580

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e716-108580

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e709-108580

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e637-108580

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e681-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

+ Details

Segments

12 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Segments

16.

SEGMENTS

As described in Note 1, we conduct our operations through three business segments:

•

Industrial Products;

•

Coatings, Sealants & Adhesives; and

•

Specialty Chemicals.

The following is a summary of the financial information of our reporting segments reconciled to the amounts reported in the consolidated financial statements.

Year ended March 31, 2016


(in thousands)	Industrial Products		Coatings, Sealants and Adhesives		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other			Total
Revenues, net	$	138,594	$	106,035	$	74,930	$	319,559	$	272		$	319,831
Operating income		31,075		10,911		12,490		54,476		(6,990	)		47,486

Year ended March 31, 2015


(in thousands)	Industrial Products		Coatings, Sealants and Adhesives		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other			Total
Revenues, net	$	118,422	$	52,119	$	89,738	$	260,279	$	1,555		$	261,834
Operating income		19,711		11,420		13,016		44,147		(113	)		44,034

Year ended March 31, 2014


(in thousands)	Industrial Products		Coatings, Sealants and Adhesives		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other		Total
Revenues, net	$	93,043	$	46,950	$	90,744	$	230,737	$	976	$	231,713
Operating income		12,593		9,360		15,877		37,830		83		37,913

Total Assets


(in thousands)	Industrial Products		Coatings, Sealants and Adhesives		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other		Total
March 31, 2016	$	154,583	$	128,886	$	97,539	$	381,008	$	11,252	$	392,260
March 31, 2015		137,148		42,010		95,389		274,547		11,974		286,521
March 31, 2014		121,925		40,986		90,213		253,124		24,696		277,820

Geographic information – We attribute sales to different geographic areas based on the destination of the product or service delivery. Long-lived assets are classified based on the geographic area in which the assets are located and exclude deferred taxes. No individual country, except for the U.S., accounted for more than 10% of consolidated net revenues or total long-lived assets.

Sales and long-lived assets by geographic area are as follows (in thousands, except percent data):


	For the Years Ended March 31,
	2016				2015				2014
U.S.	$	257,941	80.6	%	$	197,944	75.6	%	$	168,473	72.7	%
Non-U.S. (a)		61,890	19.4	%		63,890	24.4	%		63,240	27.3	%

Revenues, net	$	319,831	100.0	%	$	261,834	100.0	%	$	231,713	100.0	%

(a)	No individual country within this group represents 10% or more of consolidated totals for any period presented.


	As of March 31,
	2016				2015				2014
U.S.	$	220,878	94.4	%	$	134,117	90.3	%	$	135,296	90.9	%
Non-U.S.		12,990	5.6	%		14,457	9.7	%		13,572	9.1	%

Long-lived assets (a)	$	233,868	100.0	%	$	148,574	100.0	%	$	148,868	100.0	%

(a)	Long-lived assets consists primarily of property, plant and equipment, intangible assets, goodwill and other assets, net of deferred taxes.

Major customer information – We have a large number of customers across our locations and do not believe that we have sales to any individual customer that represent 10% or more of consolidated net revenues for any of the fiscal years presented.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599

+ Details

Quarterly Financial Data (Unaudited)

12 Months Ended

Mar. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

17.

QUARTERLY FINANCIAL DATA (UNAUDITED)

The following presents a summary of the unaudited quarterly data for the fiscal years ending March 31, 2016 and 2015 (amounts in millions, except per share data):


	Fiscal Year ended March 31, 2016
Quarter	4th		3rd		2nd		1st
Revenues, net	$	76.3	$	70.9	$	83.7	$	88.9
Gross profit		34.6		32.1		40.8		40.4
Income before income taxes		6.0		4.8		19.8		13.6
Net income		1.8		2.0		13.0		8.7
Net earnings per common share (a)(b):
Basic	$	0.12	$	0.13	$	0.83	$	0.56
Diluted		0.12		0.13		0.83		0.55


	Fiscal Year ended March 31, 2015
Quarter	4th		3rd		2nd		1st
Revenues, net	$	64.0	$	60.9	$	68.1	$	68.8
Gross profit		30.7		28.7		33.2		33.8
Income before income taxes		8.0		9.8		12.6		14.5
Net income		5.4		6.4		8.2		9.7
Net earnings per common share (a)(b):
Basic	$	0.34	$	0.41	$	0.53	$	0.63
Diluted		0.34		0.41		0.52		0.62

(a)

(b)	Net earnings per common share is computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in weighted average quarterly shares outstanding.

Organization and Operations and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Mar. 31, 2016

Accounting Policies [Abstract]

Basis of Presentation

Certain prior period balances have been reclassified to conform to current period presentation with no effect on previously reported total assets, equity, net income or cash flows from operations.

Use of Estimates

•

Timing and amount of revenue recognition;

•

Deferred taxes and tax reserves;

•

Pension benefits; and

•

Valuation of goodwill and indefinite-lived intangible assets.

Cash and Cash Equivalents

Restricted Cash

Restricted Cash – Restricted cash includes compensating cash balances related to certain credit facilities and cash held in escrowrelated to real estate sales.

Bank Time Deposits

Allowance for Doubtful Accounts

Inventories and Related Reserves

Property, Plant and Equipment


Land improvements			5 to 40 years
Buildings and improvements			7 to 40 years
Plant, office and lab equipment			5 to 40 years

We review property, plant and equipment for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable.

Valuation of Goodwill

Intangible Assets

Property Held for Investment

Deferred Loan Costs

Fair Values of Financial Instruments

Level I – Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date.

Derivative Instruments and Hedge Accounting

Pension Obligations

•

We used a measurement date of March 31 for all periods presented.

Revenue Recognition

Research and Development

Share-based Compensation

Income Taxes, Deferred Taxes, Tax Valuation Allowances and Tax Reserves

Unremitted Earnings

Uncertain Tax Positions

Earnings Per Share

Foreign Currency Translation

Segment Reporting

•

Coatings, Sealants & Adhesives is comprised of coatings and penetrants, pipe thread sealants, firestopping sealants and caulks and adhesives/solvent cements.

•

Specialty Chemicals includes lubricants and greases, drilling compounds, anti-seize compounds, chemical formulations and degreasers and cleaners.

Accounting Developments

Accounting Developments

Organization and Operations and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Mar. 31, 2016

Accounting Policies [Abstract]

Schedule of Estimated Useful Lives

Generally, the estimated useful lives of assets are:


Land improvements			5 to 40 years
Buildings and improvements			7 to 40 years
Plant, office and lab equipment			5 to 40 years

Acquisitions (Tables)

12 Months Ended

Mar. 31, 2016

Business Combinations [Abstract]

Summary of Fair Values of Assets Acquired and Liabilities Assumed

The following table summarizes the fair values of assets acquired and liabilities assumed (in thousands):


Accounts receivable	$	4,902
Inventory		8,447
Property, plant and equipment		3,761
Intangible assets		37,650
Other, net		2,941
Current liabilities		(4,297	)

Net tangible and intangible assets		53,404
Goodwill		17,395

Purchase price	$	70,799

Summary of Pro Forma Information

Pro forma information regarding Strathmore is provided below (in thousands, except per share amounts):


	Fiscal Years Ended March 31,
	2016		2015
Revenues, net	$	319,831	$	325,025
Operating income		47,486		50,443
Net income		25,471		32,012
Earnings per share – Basic		1.63		2.05
Earnings per share – Diluted		1.62		2.05

Goodwill and Intangible Assets (Tables)

12 Months Ended

Mar. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the fiscal years ended March 31, 2016 and 2015 were as follows (in thousands):


	Industrial Products			Coatings, Sealants and Adhesives		Specialty Chemicals		Total
Balance at April 1, 2014	$	30,996		$	920	$	3,402	$	35,318
Acquisition of SureSeal		4,502			—		—		4,502
Currency translation and other		825			—		—		825

Balance at March 31, 2015		36,323			920		3,402		40,645

Acquisition of Strathmore		—			17,395		—		17,395
Acquisition of Deacon		—			4,105		—		4,105
Acquisition of Leak Freeze		—			—		5,741		5,741
Currency translation		(129	)		—		—		(129	)

Balance at March 31, 2016	$	36,194		$	22,420	$	9,143	$	67,757

Schedule of Intangible Assets

The following table provided information about out intangible assets for the fiscal years ended March 31, 2016 and 2015 (in thousands, except years):


			March 31, 2016					March 31, 2015
	Wtd Avg Life (Years)		Ending Gross Amount		Accumulated Amortization			Ending Gross Amount		Accumulated Amortization
Finite-lived intangible assets:
Patents		12	$	14,458	$	(8,600	)	$	14,284	$	(7,608	)
Customer lists and amortized trademarks		12		71,475		(17,080	)		37,091		(11,516	)
Non-compete agreements (a)		5		1,310		(405	)		2,877		(2,458	)
Other		12		3,769		(354	)		412		(137	)

			$	91,012	$	(26,439	)	$	54,664	$	(21,719	)

Trade names and trademarks not being amortized:			$	24,154	$	—		$	8,052	$	—

(a)	During the fiscal year ended March 31, 2016, we wrote off $2.9 million of expired and fully amortized non-compete agreements.

Schedule of Estimated Future Amortization For Intangible Assets

The following table presents the estimated future amortization of finite-lived intangible assets for the next five fiscal years ending March 31 (in thousands):


2017	$	7,363
2018		7,233
2019		6,385
2020		6,142
2021		5,919

Share-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2016

Schedule of Share-Based Compensation

We recorded share-based compensation as follows for the fiscal year ended March 31, 2016 (in thousands):


	Fiscal Year Ended March 31, 2016
	Stock Options			Restricted Stock			Total
Share-based compensation expense	$	206		$	750		$	956
Related income tax benefit		(72	)		(263	)		(335	)

Net share-based compensation expense	$	134		$	487		$	621

Restricted Stock [Member]

Schedule of Share Based Awards Outstanding

Restricted stock activity, which represents outstanding CSWI awards, including awards held by Capital Southwest employees is as follows:


	Number of Shares			Weighted Average Grant Date Fair Value
Outstanding at April 1, 2015		—		$	—
Granted		230,706			22.14
Vested		(45,453	)		15.41
Canceled		(3,276	)		28.21

Outstanding at March 31, 2016		181,977		$	23.72

Stock Options [Member]

Schedule of Share Based Awards Outstanding

Stock option activity, which represents outstanding CSWI awards, including awards held by Capital Southwest employees is as follows:


	Fiscal Year Ended March 31, 2016
	Number of Shares			Weighted Average Exercise Price		Remaining Contractual Life (Years)		Aggregate Intrinsic Value (in Millions)
Outstanding at April 1, 2015		—		$	—
Granted		368,487			24.40
Exercised		(5,974	)		16.11
Canceled		—			—

Outstanding at March 31, 2016		362,513		$	24.53		8.0	$	2.7

Exercisable at March 31, 2016		131,161		$	23.67		7.5	$	1.1

Details of Certain Consolidated Balance Sheet Captions (Tables)

12 Months Ended

Mar. 31, 2016

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Accounts Receivable

Accounts receivable, net consists of the following (in thousands):


	March 31,
	2016			2015
Accounts receivable trade	$	53,423		$	50,487
Other receivables		422			146

		53,845			50,633
Less: Allowance for doubtful accounts		(1,208	)		(1,692	)

Accounts receivable, net	$	52,637		$	48,941

Schedule of Inventories

Inventories, net consist of the following (in thousands):


	March 31,
	2016			2015
Raw materials and supplies	$	26,019		$	21,837
Work in process		5,432			5,626
Finished goods		26,087			25,325

Total inventories		57,538			52,788
Less: LIFO reserve		(5,302	)		(5,456	)
Less: Obsolescence reserve		(602	)		(157	)

Inventories, net	$	51,634		$	47,175

Schedule of Property, Plant and Equipment

Property, plant and equipment, net, consist of the following (in thousands):


	March 31,
	2016			2015
Land improvements	$	2,129		$	2,129
Buildings and improvements		46,004			42,191
Plant, office and laboratory equipment		65,732			62,358

		113,865			106,678
Less: Accumulated depreciation		(59,035	)		(52,954	)

		54,830			53,724
Land		2,610			1,242
Construction in progress		6,917			1,871

Property, plant and equipment, net	$	64,357		$	56,837

Schedule of Other Assets

Other assets consists of the following (in thousands):


	March 31,
	2016		2015
Property held for investment (a)	$	9,290	$	9,300
Deferred income taxes		—		5,651
Retirement assets in excess of benefit obligations		2,063		338
Other		4,545		457

Other assets	$	15,898	$	15,746


(a) As of March 31, 2016, $6.2 million in assets were held for sale.

Schedule of Accrued and Other Current Expenses

Accrued and other current expenses consist of the following (in thousands):


	March 31,
	2016		2015
Compensation and related benefits	$	12,502	$	9,212
Rebates and marketing agreements		1,976		1,515
Commissions		1,378		1,157
Sales and property taxes		517		373
Other accrued expenses		4,717		3,744

Accrued and other current liabilities	$	21,090	$	16,001

Schedule of Other Liabilities

Other liabilities consists of the following (in thousands):


	March 31,
	2016		2015
Contingent consideration	$	5,854	$	5,115
Deferred income taxes		3,793		—
Other		2,173		2,595

Other liabilities	$	11,820	$	7,710

Long-Term Debt (Tables)

12 Months Ended

Mar. 31, 2016

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Debt consists of the following (in thousands):


	March 31,
	2016			2015
Revolving Credit Facility, interest rate of 2.18%	$	76,539		$	—
RectorSeal line of credit, interest rate of 1.77%		—			13,000
Whitmore term loan, interest rate of 2.43% and 2.17%, respectively		13,143			13,704

Total debt		89,682			26,704
Less: Current portion		(561	)		(13,561	)

Long-term debt	$	89,121		$	13,143

Aggregate Maturities of Long-Term Debt

Future minimum debt payments are as follows for fiscal years ending March 31 (in thousands):


2017	$	561
2018		561
2019		561
2020		561
2021		77,100
Thereafter		10,338

Total	$	89,682

Summary of Future Minimum Lease Payments

Future minimum lease payments under these leases for fiscal years ending March 31 are as follows (in thousands):


2017	$	2,364
2018		1,733
2019		1,467
2020		1,404
2021		1,238
Thereafter		4,648

Total	$	12,854

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

+ References + Details

Earnings Per Share (Tables)

12 Months Ended

Mar. 31, 2016

Earnings Per Share [Abstract]

Reconciliation of Earnings Per Share


	Fiscal Years Ended March 31,
	2016		2015		2014
Net income for basic and diluted earnings per share	$	25,471	$	29,705	$	24,732
Weighted average shares:
Common stock		15,443		15,441		15,441
Participating securities		182		142		142

Denominator for basic earnings per common share		15,625		15,583		15,583
Potentially dilutive securities (a)		50		41		41

Denominator for diluted earnings per common share		15,675		15,624		15,624

Earnings per common share:
Basic	$	1.63	$	1.91	$	1.59
Diluted		1.62		1.90		1.58

(a)	No shares were excluded for anti-dilution for the fiscal year ended March 31, 2016. We have excluded 29,877 shares for each of the fiscal years ended March 31, 2015 and 2014 as their effect would have been anti-dilutive.

Derivative Instruments and Hedge Accounting (Tables)

12 Months Ended

Mar. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Interest Rate Swaps Designated as Hedging Instruments

The fair value of interest rate swaps designated as hedging instruments are summarized below (in thousands):


	March 31,
	2016		2015
Current derivative liabilities	$	511	$	—
Non-current derivative liabilities		1,366		1,206

Retirement Plans (Tables)

12 Months Ended

Mar. 31, 2016

Qualified Plan [Member]

Summary of Assumptions Related to Retirement Plan

The following are assumptions related to the Qualified Plan:


	Year ended March 31,
	2016			2015			2014
Assumptions used to determine benefit obligations:
Discount rate		4.50	%		4.25	%		5.00	%
Rate of compensation increases		(a	)		5.00	%		5.00	%
Assumptions used to determine net pension expense:
Discount rate		4.25	%		5.00	%		4.50	%
Expected return on plan assets		7.00	%		7.00	%		7.00	%
Rate of compensation increases		(a	)		5.00	%		5.00	%

(a) Rate of compensation increase is no longer relevant due to the freeze of the Qualified Plan.

Schedule of Pension Plan

Net pension expense for the Qualified Plan was (in thousands):


	For the year ended March 31,
	2016			2015			2014
Service cost – benefits earned during the year	$	2,042		$	3,039		$	2,965
Interest cost on projected benefit obligation		2,666			2,513			2,066
Expected return on assets		(3,226	)		(2,406	)		(2,115	)
Net amortization and deferral		(27	)		58			363
Curtailment benefit		(8,051	)		—			—

Net pension (benefit) expense	$	(6,596	)	$	3,204		$	3,279

Summary of Changes in Pension Obligations

The following is a summary of the changes in the Qualified Plan’s pension obligations (in thousands):


	March 31,
	2016			2015
Benefit obligation at beginning of year	$	64,015		$	50,344
Service cost		2,042			3,039
Interest cost		2,666			2,513
Actuarial loss		(2,589	)		9,033
Benefits paid		(1,410	)		(914	)
Curtailment impact		(14,238	)		—
Impact of Share Distribution (a)		8,329			—

Benefit obligation at end of year	$	58,815		$	64,015

Accumulated benefit obligation	$	58,815		$	50,081


(a) Additional obligations were included related to employees who transferred from Capital Southwest to CSWI upon completion of the Share Distribution.

Summary of Reconciliation of Plan's Assets

The following is a reconciliation of the Qualified Plan’s assets (in thousands):


	March 31,
	2016			2015
Fair value of plan assets at beginning of year	$	43,087		$	42,124
Actual return on plan assets		578			1,877
Benefits paid		(1,410	)		(914	)
Impact of Share Distribution (a)		18,623			—

Fair value of plan assets at end of year	$	60,878		$	43,087


(a) Assets previously held by Capital Southwest were contributed to CSWI in conjunction with the Share Distribution.

Summary of Net Pension Asset (Liability) for Retirement Plan

The following summarizes the net pension asset (liability) for the Qualified Plan (in thousands):


	March 31,
	2016			2015
Plan assets at fair value	$	60,878		$	43,087
Benefit obligation		(58,815	)		(64,015	)

Funded status	$	2,063		$	(20,928	)

Summary of Amounts Recognized in Balance Sheet

The following summarizes amounts recognized in the balance sheet for the Qualified Plan (in thousands):


	March 31,
	2016		2015
Noncurrent assets	$	2,063	$	—
Noncurrent liabilities		—		(20,928	)

Funded status	$	2,063	$	(20,928	)

Schedule of Change in Accumulated Other Comprehensive Loss Attributable to Components of Net Cost and Change in Benefit Obligation

The following table presents the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in the benefit obligation (in thousands):


	March 31,
	2016			2015
Accumulated other comprehensive (loss) income at beginning of year	$	(4,707	)	$	1,493
Amortization of net loss		—			74
Amortization of prior service credit		(18	)		(36	)
Curtailment impact		5,233			—
Impact of Share Distribution		35			—
Net loss arising during the year		(1,433	)		(6,238	)

Accumulated other comprehensive loss at end of year	$	(890	)	$	(4,707	)

Amounts recorded in accumulated other comprehensive loss consist of (in thousands):


	March 31,
	2016			2015
Net prior service cost	$	—		$	279
Net loss		(890	)		(4,986	)

Accumulated other comprehensive loss	$	(890	)	$	(4,707	)

Schedule of Plan Asset Allocations

The actual asset allocations for the Qualified Plan are as follows:


	As of March 31,
Asset category	2016			2015
Equity securities		35	%		58	%
Fixed income securities		59	%		36	%
Other		2	%		3	%
Cash and cash equivalents		4	%		3	%

Total		100	%		100	%

The Qualified Plan’s financial instruments, shown below, are presented at fair value, as described in Note 1. The fair values of our Qualified Plan assets were:


	As of March 31, 2016								As of March 31, 2015
			Hierarchical Levels								Hierarchical Levels
Asset category	Total		I		II		III		Total		I		II		III
Equity securities (a)	$	21,183	$	2,455	$	18,728	$	—	$	24,928	$	13,647	$	11,281	$	—
Fixed income securities (b)		35,719		3,979		31,740		—		15,400		1,488		13,912		—
Other (c)		1,474		935		539		—		1,252		754		498		—
Cash and cash equivalents		2,502		2,502		—		—		1,507		1,507		—		—

Total	$	60,878	$	9,871	$	51,007	$	—	$	43,087	$	17,396	$	25,691	$	—

(a)

(b)	This category includes investments in investment grade fixed income instruments, primarily U.S. government obligations.

(c)	This category includes investments in commodity linked and real estate funds within the U.S.

Summary of Expected Cash Benefit Payments

The following table summarizes the expected cash benefit payments for the Qualified Plan for fiscal years ending March 31 (in millions):


2017	$	2.1
2018		2.3
2019		2.5
2020		2.8
2021		2.9
2022-2026		16.9

Restoration Plan [Member]

Summary of Assumptions Related to Retirement Plan

The following are assumptions related to the Restoration Plan:


	Year ended March 31,
	2016			2015			2014
Assumptions used to determine benefit obligations:
Discount rate		4.50	%		4.25	%		5.00	%
Rate of compensation increases		(a	)		5.00	%		5.00	%
Assumptions used to determine net pension expense:
Discount rate		4.25	%		5.00	%		4.50	%
Rate of compensation increases		(a	)		5.00	%		5.00	%

(a) Rate of compensation increase is no longer relevant due to the freeze of the Qualified Plan.

Schedule of Pension Plan

Net pension expense for the Restoration Plan was (in thousands):


	For the year ended March 31,
	2016		2015		2014
Service cost – benefits earned during the year	$	27	$	66	$	65
Interest cost on projected benefit obligation		73		66		61
Net amortization and deferral		36		63		66
Curtailment expense		31		—		—

Net pension expense	$	167	$	195	$	192

Summary of Changes in Pension Obligations

The following is a summary of the changes in the Restoration Plan’s pension obligations (in thousands):


	March 31,
	2016			2015
Benefit obligation at beginning of year	$	1,616		$	1,513
Service cost		27			66
Interest cost		73			66
Actuarial loss (gain)		304			(29	)
Curtailment impact		(555	)		—
Benefits paid		(6	)		—
Impact of Share Distribution (a)		287			—

Benefit obligation at end of year	$	1,746		$	1,616

Accumulated benefit obligation	$	1,746		$	1,423

(a)

Additional obligations were included related to employees who transferred from Capital Southwest to CSWI upon completion of the Share Distribution.

Summary of Amounts Recognized in Balance Sheet

The following summarizes amounts recognized in the balance sheet for the Restoration Plan (in thousands):


	March 31,
	2016			2015
Noncurrent liabilities	$	(1,746	)	$	(1,616	)

Funded status	$	(1,746	)	$	(1,616	)

Schedule of Change in Accumulated Other Comprehensive Loss Attributable to Components of Net Cost and Change in Benefit Obligation

The following table presents the change in accumulated other comprehensive loss attributable to the components of the net cost and the change in the benefit obligation (in thousands):


	March 31,
	2016			2015
Accumulated other comprehensive loss at beginning of year	$	(503	)	$	(396	)
Amortization of net loss		20			14
Amortization of prior service (credit) cost		(3	)		6
Curtailment impact		(20	)		—
Impact of Share Distribution (a)		(502	)		—
Net gain (loss) arising during the year		669			(127	)

Accumulated other comprehensive loss at end of year	$	(339	)	$	(503	)


(a) Deferred losses attributable to obligations related to employees who transferred from Capital Southwest to CSWI upon completion of the Share Distribution.

Amounts recorded in accumulated other comprehensive loss consist of (in thousands):


	March 31,
	2016			2015
Net prior service credit	$	—		$	(23	)
Net loss		(339	)		(480	)

Accumulated other comprehensive loss	$	(339	)	$	(503	)

Summary of Expected Cash Benefit Payments

The following table summarizes the expected cash benefit payments for the Restoration Plan for fiscal years ending March 31 (in millions):


2017	$	0.1
2018		0.1
2019		0.1
2020		0.1
2021		0.1
2022-2026		0.5

Income Taxes (Tables)

12 Months Ended

Mar. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes

Income before income taxes was comprised of the following (in thousands):


	Fiscal Years Ended March 31,
	2016		2015		2014
U.S. Federal	$	40,981	$	39,511	$	31,241
Foreign		3,244		5,417		6,285

Income before income taxes	$	44,225	$	44,928	$	37,526

Schedule of Income Tax Expense

Income tax expense consists of the following (in thousands):


	Current		Deferred			Total
Fiscal year ended March 31, 2016:
U.S. Federal	$	9,210	$	7,573		$	16,783
State and local		1,368		(136	)		1,232
Foreign		914		(175	)		739

Provision for income taxes	$	11,492	$	7,262		$	18,754

Fiscal year ended March 31, 2015:
U.S. Federal	$	14,920	$	(1,848	)	$	13,072
State and local		933		3			936
Foreign		1,637		(422	)		1,215

Provision for income taxes	$	17,490	$	(2,267	)	$	15,223

Fiscal year ended March 31, 2014:
U.S. Federal	$	11,570	$	(567	)	$	11,003
State and local		475		(74	)		401
Foreign		1,374		16			1,390

Provision for income taxes	$	13,419	$	(625	)	$	12,794

Summary of Income Tax Expense Differed from Amounts Computed by Applying U.S. Federal Statutory Income Tax Rate to Income Before Income Taxes

Income tax expense differed from the amounts computed by applying the U.S. federal statutory income tax rate of 35% to income before income taxes as a result of the following (in thousands):


	Fiscal Years Ended March 31,
	2016			2015			2014
Computed tax expense at statutory rate	$	15,479		$	15,727		$	13,225
Increase (reduction) in income taxes resulting from:
Permanent differences		1,399			529			542
FIN 48 liability		1,277			—			—
State and local income taxes, net of federal benefits		1,055			569			205
Foreign rate differential		(642	)		(75	)		(168	)
Domestic production activity deduction		(420	)		(817	)		(719	)
Difference in U.S. rate		(107	)		(45	)		108
Other, net		713			(665	)		(399	)

Provision for income taxes	$	18,754		$	15,223		$	12,794

Summary of Tax Effects of Temporary Differences That Give Rise to Significant Portions of Deferred Tax Assets and Deferred Tax Liabilities

The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at March 31 are presented below (in thousands):


	As of March 31,
	2016			2015
Deferred tax assets:
Inventory reserves	$	2,319		$	1,540
Accrued compensation		1,712			694
Accrued expenses		370			138
Net operating loss carryforwards		160			—
Pension and other employee benefits		38			8,370
Other, net		2,289			1,119

Deferred tax assets		6,888			11,861
Valuation allowance		(107	)		—

Deferred tax assets, net of valuation allowance		6,781			11,861

Deferred tax liabilities:
Property, plant and equipment		(5,819	)		(4,239	)
Goodwill and intangible assets		(2,567	)		(1,473	)
FIN 48 liability		(1,277	)		—
1031 Exchanges		(716	)		(460	)
Other, net		(195	)		(38	)

Deferred tax liabilities		(10,574	)		(6,210	)

Net deferred tax (liabilities) assets	$	(3,793	)	$	5,651

Summary of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in thousands):


Balance at March 31, 2015	$	—
Increases related to prior year tax positions		900

Balance at March 31, 2016	$	900

Other Comprehensive Income (Tables)

12 Months Ended

Mar. 31, 2016

Equity [Abstract]

Analysis of Changes in Accumulated Other Comprehensive Income (Loss)

The following table provides an analysis of the changes in accumulated other comprehensive income (loss) (in thousands).


	Fiscal Years Ended March 31,
	2016			2015
Currency translation adjustments:
Balance at beginning of period	$	(3,877	)	$	1,400
Adjustments for foreign currency translation		(1,371	)		(5,277	)

Balance at end of period	$	(5,248	)	$	(3,877	)

Interest rate swaps:
Balance at beginning of period	$	(1,206	)	$	—
Unrealized gains, net of taxes of $219 and $649, respectively		(407	)		(1,206	)
Reclassification of losses included in interest expense, net, net of taxes of $(211)		392			—

Other comprehensive income (loss)		(15	)		(1,206	)

Balance at end of period	$	(1,221	)	$	(1,206	)

Defined benefit plans:
Balance at beginning of period	$	(5,210	)	$	1,097
Amortization of net prior service benefit, net of taxes of $11 and $16, respectively (a)		(21	)		(30	)
Amortization of net loss, net of taxes of $(11) and $(47), respectively (a)		20			88
Net loss arising during the year, net of tax of $411 and $3,427, respectively		(764	)		(6,365	)
Impact of Share Distribution, net of tax of $251		(467	)		—
Curtailment, net of taxes of $(2,807)		5,213			—

Other comprehensive income (loss)		3,981			(6,307	)

Balance at end of period	$	(1,229	)	$	(5,210	)

(a)	Amortization of prior service costs and actuarial losses out of accumulated other comprehensive loss are included in the computation of net periodic pension expenses. See Note 11 for additional information.

Segments (Tables)

12 Months Ended

Mar. 31, 2016

Segment Reporting [Abstract]

Summary of Financial Information of Reporting Segments Reconciled to Amounts Reported in Consolidated Financial Statements

The following is a summary of the financial information of our reporting segments reconciled to the amounts reported in the consolidated financial statements.

Year ended March 31, 2016


(in thousands)	Industrial Products		Coatings, Sealants and Adhesives		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other			Total
Revenues, net	$	138,594	$	106,035	$	74,930	$	319,559	$	272		$	319,831
Operating income		31,075		10,911		12,490		54,476		(6,990	)		47,486

Year ended March 31, 2015


(in thousands)	Industrial Products		Coatings, Sealants and Adhesives		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other			Total
Revenues, net	$	118,422	$	52,119	$	89,738	$	260,279	$	1,555		$	261,834
Operating income		19,711		11,420		13,016		44,147		(113	)		44,034

Year ended March 31, 2014


(in thousands)	Industrial Products		Coatings, Sealants and Adhesives		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other		Total
Revenues, net	$	93,043	$	46,950	$	90,744	$	230,737	$	976	$	231,713
Operating income		12,593		9,360		15,877		37,830		83		37,913

Total Assets


(in thousands)	Industrial Products		Coatings, Sealants and Adhesives		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other		Total
March 31, 2016	$	154,583	$	128,886	$	97,539	$	381,008	$	11,252	$	392,260
March 31, 2015		137,148		42,010		95,389		274,547		11,974		286,521
March 31, 2014		121,925		40,986		90,213		253,124		24,696		277,820

Schedule of Sales and Long-Lived Assets by Geographic Area

Sales and long-lived assets by geographic area are as follows (in thousands, except percent data):


	For the Years Ended March 31,
	2016				2015				2014
U.S.	$	257,941	80.6	%	$	197,944	75.6	%	$	168,473	72.7	%
Non-U.S. (a)		61,890	19.4	%		63,890	24.4	%		63,240	27.3	%

Revenues, net	$	319,831	100.0	%	$	261,834	100.0	%	$	231,713	100.0	%

(a)	No individual country within this group represents 10% or more of consolidated totals for any period presented.


	As of March 31,
	2016				2015				2014
U.S.	$	220,878	94.4	%	$	134,117	90.3	%	$	135,296	90.9	%
Non-U.S.		12,990	5.6	%		14,457	9.7	%		13,572	9.1	%

Long-lived assets (a)	$	233,868	100.0	%	$	148,574	100.0	%	$	148,868	100.0	%

(a)	Long-lived assets consists primarily of property, plant and equipment, intangible assets, goodwill and other assets, net of deferred taxes.

Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Mar. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Summary of Unaudited Quarterly Data

The following presents a summary of the unaudited quarterly data for the fiscal years ending March 31, 2016 and 2015 (amounts in millions, except per share data):


	Fiscal Year ended March 31, 2016
Quarter	4th		3rd		2nd		1st
Revenues, net	$	76.3	$	70.9	$	83.7	$	88.9
Gross profit		34.6		32.1		40.8		40.4
Income before income taxes		6.0		4.8		19.8		13.6
Net income		1.8		2.0		13.0		8.7
Net earnings per common share (a)(b):
Basic	$	0.12	$	0.13	$	0.83	$	0.56
Diluted		0.12		0.13		0.83		0.55


	Fiscal Year ended March 31, 2015
Quarter	4th		3rd		2nd		1st
Revenues, net	$	64.0	$	60.9	$	68.1	$	68.8
Gross profit		30.7		28.7		33.2		33.8
Income before income taxes		8.0		9.8		12.6		14.5
Net income		5.4		6.4		8.2		9.7
Net earnings per common share (a)(b):
Basic	$	0.34	$	0.41	$	0.53	$	0.63
Diluted		0.34		0.41		0.52		0.62

(a)

(b)	Net earnings per common share is computed independently for each of the quarters presented. The sum of the quarters may not equal the total year amount due to the impact of changes in weighted average quarterly shares outstanding.

Organization and Operations and Summary of Significant Accounting Policies (The Share Distribution) - Additional Information (Detail) $ in Thousands		12 Months Ended
	Sep. 30, 2015 USD ($)	Mar. 31, 2016 USD ($) Brand
Cash contribution from Capital Southwest		$ 13,000
Pension plan assets contributed by Capital Southwest		$ 10,357
Minimum [Member]
Highly respected industrial brands \| Brand		100
Capital Southwest Corporation [Member]
Cash contribution from Capital Southwest	$ 13,000
Pension plan assets contributed by Capital Southwest	10,400
Equity issuance cost	$ 300

Organization and Operations and Summary of Significant Accounting Policies (Cash and Deposits) - Additional Information (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Bank time deposits	$ 13,278	$ 9,248
Fully Insured by the Province of Alberta, Canada or the Financial Services Compensation Scheme Financial Services Compensation Scheme [Member]
Bank time deposits	10,400	6,500
U.S. [Member]
Deposits in banks	17,600	10,300
Deposits in excess of FDIC limits	15,200	8,300
Non-U.S. [Member]
Deposits in banks	8,400	10,100
Deposits in excess of FDIC limits	$ 5,000	$ 3,000

Organization and Operations and Summary of Significant Accounting Policies (Inventories and Related Reserves) - Additional Information (Detail)	Mar. 31, 2016	Mar. 31, 2015
Non-U.S. [Member] \| Geographic Concentration Risk [Member] \| Inventory [Member]
Concentration risk, percentage	8.00%	10.00%

Organization and Operations and Summary of Significant Accounting Policies - Schedule of Estimated Useful Lives (Detail)	12 Months Ended
	Mar. 31, 2016
Minimum [Member] \| Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	5 years
Minimum [Member] \| Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	7 years
Minimum [Member] \| Plant, Office and Lab Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	5 years
Maximum [Member] \| Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	40 years
Maximum [Member] \| Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	40 years
Maximum [Member] \| Plant, Office and Lab Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	40 years

Organization and Operations and Summary of Significant Accounting Policies (Intangible Assets) - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Impairment of intangible assets	$ 0	$ 710	$ 1,309

Organization and Operations and Summary of Significant Accounting Policies (Fair Values of Financial Instruments) - Additional Information (Detail)	12 Months Ended
	Mar. 31, 2016 Trial
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of trials employed for measuring fair value	200,000

Organization and Operations and Summary of Significant Accounting Policies (Research and Development) - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Selling, General and Administrative Expenses [Member]
Research and development costs	$ 4.5	$ 5.7	$ 5.5

Organization and Operations and Summary of Significant Accounting Policies (Uncertain Tax Positions) - Additional Information (Detail) $ in Millions	Mar. 31, 2016 USD ($)
Uncertain tax positions related to state income taxes	$ 0.9
Recognized interest expense or penalties	0.4
Reclassification Adjustment [Member] \| ASU No. 2015-17 [Member]
Deferred tax assets, non-current	$ 2.7

Acquisitions (AC Leak Freeze) - Additional Information (Detail) - USD ($) $ in Thousands		12 Months Ended
	Dec. 16, 2015	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Business Acquisition [Line Items]
Purchase price, paid from cash		$ 97,236	$ 7,193	$ 24,632
Leak Freeze [Member]
Business Acquisition [Line Items]
Purchase price, paid from cash	$ 16,300
Excess of purchase price over fair value of identifiable assets acquired	5,700
Fair value of inventory acquired	700
Leak Freeze [Member] \| Customer Lists [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 8,100
Assets acquired, amortization period	10 years
Leak Freeze [Member] \| Non-compete Agreements [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 200
Assets acquired, amortization period	5 years
Leak Freeze [Member] \| Trade Names and Trademarks [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 1,400

Acquisitions (Deacon Industries, Inc.) - Additional Information (Detail) - USD ($) $ in Thousands		12 Months Ended
	Oct. 01, 2015	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Business Acquisition [Line Items]
Purchase price, paid from available cash		$ 97,236	$ 7,193	$ 24,632
Contingent consideration liability recognized		$ 5,854	$ 5,115
Deacon [Member]
Business Acquisition [Line Items]
Purchase price, amount transferred	$ 12,600
Purchase price, funded from borrowings	11,000
Purchase price, paid from available cash	1,100
Contingent consideration liability recognized	500
Excess of purchase price over fair value of identifiable assets acquired	4,100
Fair value of property, plant and equipment acquired	900
Fair value of inventory acquired	500
Deacon [Member] \| Customer Lists [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 2,900
Assets acquired, amortization period	15 years
Deacon [Member] \| Know How [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 2,600
Assets acquired, amortization period	10 years
Deacon [Member] \| Non-compete Agreements [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 100
Assets acquired, amortization period	5 years
Deacon [Member] \| Trade Names and Trademarks [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 1,100

Acquisitions (Strathmore Products, Inc.) - Additional Information (Detail) - USD ($)		3 Months Ended								12 Months Ended
	Apr. 01, 2015	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Business Acquisition [Line Items]
Contingent consideration liability recognized		$ 5,854,000				$ 5,115,000				$ 5,854,000	$ 5,115,000
Net revenue		64,000,000	$ 60,900,000	$ 68,100,000	$ 68,800,000	$ 76,300,000	$ 70,900,000	$ 83,700,000	$ 88,900,000	319,831,000	261,834,000	$ 231,713,000
Strathmore Products, Inc [Member]
Business Acquisition [Line Items]
Purchase price, amount transferred	$ 68,800,000
Additional contingent consideration payable	16,500,000
Contingent consideration liability recognized	2,000,000		0
Purchase price, funded from borrowings	70,000,000
Transaction costs	2,700,000										$ 200,000
Measurement period adjustment in prepaid compensation cost			2,700,000
Excess of the purchase price over the fair value of the identifiable assets acquired	15,100,000		$ 12,400,000
Increase in goodwill		5,000,000
Strathmore Products, Inc [Member] \| Coatings, Sealants and Adhesives [Member]
Business Acquisition [Line Items]
Net revenue										$ 52,900,000
Strathmore Products, Inc [Member] \| Customer Relationships [Member]
Business Acquisition [Line Items]
Preliminary fair value of the assets acquired	$ 27,400,000	23,700,000
Assets acquired, amortization period	15 years
Strathmore Products, Inc [Member] \| Non-compete Agreements [Member]
Business Acquisition [Line Items]
Preliminary fair value of the assets acquired	$ 400,000
Assets acquired, amortization period	5 years
Strathmore Products, Inc [Member] \| Trade Names and Trademarks [Member]
Business Acquisition [Line Items]
Preliminary fair value of the assets acquired	$ 14,900,000	$ 13,600,000

Acquisitions (Strathmore Products, Inc.) - Summary of Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Business Acquisition [Line Items]
Goodwill	$ 67,757	$ 40,645	$ 35,318
Strathmore Products, Inc [Member]
Business Acquisition [Line Items]
Accounts receivable	4,902
Inventory	8,447
Property, plant and equipment	3,761
Intangible assets	37,650
Other, net	2,941
Current liabilities	(4,297)
Net tangible and intangible assets	53,404
Goodwill	17,395
Purchase price	$ 70,799

Acquisitions (Strathmore Products, Inc.) - Summary of Pro Forma Information (Detail) - Strathmore Products, Inc [Member] - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Business Acquisition [Line Items]
Revenues, net	$ 319,831	$ 325,025
Operating income	47,486	50,443
Net income	$ 25,471	$ 32,012
Earnings per share - Basic	$ 1.63	$ 2.05
Earnings per share - Diluted	$ 1.62	$ 2.05

Acquisitions (SureSeal Manufacturing) - Additional Information (Detail) - USD ($) $ in Thousands		12 Months Ended
	Jan. 02, 2015	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Business Acquisition [Line Items]
Purchase price, paid from available cash		$ 97,236	$ 7,193	$ 24,632
Contingent consideration liability recognized		$ 5,854	$ 5,115
Sure Seal Brand [Member]
Business Acquisition [Line Items]
Purchase price	$ 8,100
Purchase price, amount transferred	3,200
Purchase price, funded from borrowings	2,900
Purchase price, paid from available cash	$ 300
Contingent consideration, first performance measurement period	3 years
Contingent consideration, second performance measurement period	6 years
Contingent consideration, payment condition net sales target percentage	67.00%
Contingent consideration payment condition measurement period	12 months
Contingent consideration liability recognized	$ 4,900
Excess of the purchase price over the fair value of the identifiable assets acquired	4,500
Fair value of equipment acquired	200
Sure Seal Brand [Member] \| Trade Names and Trademarks [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	900
Sure Seal Brand [Member] \| Customer Lists [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 1,800
Assets acquired, amortization period	10 years
Sure Seal Brand [Member] \| Patents [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 600
Assets acquired, amortization period	15 years
Sure Seal Brand [Member] \| Non-compete Agreements [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 100
Assets acquired, amortization period	5 years

Acquisitions (Evo-Crete and Polyslab product lines) - Additional Information (Detail) - Evo-Crete and Polyslab Product Lines [Member] $ in Millions	Aug. 15, 2014 USD ($)
Business Acquisition [Line Items]
Purchase price	$ 4.5
Purchase price, funded from borrowings	3.0
Excess of the purchase price over the fair value of the identifiable assets acquired	1.5
Fair value of property, plant and equipment acquired	0.7
Trademarks [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	0.4
Non-compete Agreements [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 0.1
Assets acquired, amortization period	5 years
Customer Lists [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 1.2
Assets acquired, amortization period	15 years
Patents [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 0.7
Assets acquired, amortization period	10 years

Acquisitions (Fluid Defense Systems, LLC) - Additional Information (Detail) - Fluid Defense [Member] $ in Millions	Jan. 31, 2014 USD ($)
Business Acquisition [Line Items]
Purchase price, amount transferred	$ 5.6
Purchase price, funded from borrowings	5.0
Excess of the purchase price over the fair value of the identifiable assets acquired	1.7
Fair value of working capital	1.4
Fair value of property, plant and equipment acquired	0.3
Trademarks [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 1.0
Assets acquired, amortization period	20 years
Customer Lists [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 1.1
Assets acquired, amortization period	10 years
Patents and Technology [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 0.1
Patents and Technology [Member] \| Minimum [Member]
Business Acquisition [Line Items]
Assets acquired, amortization period	5 years
Patents and Technology [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Assets acquired, amortization period	7 years

Acquisitions (Resource Conservation Technologies, Inc) - Additional Information (Detail) - RCT [Member] $ in Millions	Jan. 02, 2014 USD ($)
Business Acquisition [Line Items]
Purchase price, amount transferred	$ 18.5
Purchase price, funded from borrowings	18.3
Excess of the purchase price over the fair value of the identifiable assets acquired	8.5
Fair value of property, plant and equipment acquired	0.1
Trademarks [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	1.7
Customer Lists [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 5.8
Assets acquired, amortization period	10 years
Patents [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 2.3
Patents [Member] \| Minimum [Member]
Business Acquisition [Line Items]
Assets acquired, amortization period	5 years
Patents [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Assets acquired, amortization period	16 years
Non-compete Agreements [Member]
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 0.1
Assets acquired, amortization period	5 years

Goodwill and Intangible Assets - Schedule of Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Goodwill [Line Items]
Beginning balance	$ 40,645	$ 35,318
Currency translation and other	(129)	825
Ending balance	67,757	40,645
Industrial Products [Member]
Goodwill [Line Items]
Beginning balance	36,323	30,996
Currency translation and other	(129)	825
Ending balance	36,194	36,323
Coatings, Sealants and Adhesives [Member]
Goodwill [Line Items]
Beginning balance	920	920
Currency translation and other	0	0
Ending balance	22,420	920
Specialty Chemicals [Member]
Goodwill [Line Items]
Beginning balance	3,402	3,402
Currency translation and other	0	0
Ending balance	9,143	3,402
Strathmore Products, Inc [Member]
Goodwill [Line Items]
Acquisition	17,395
Ending balance	17,395
Strathmore Products, Inc [Member] \| Coatings, Sealants and Adhesives [Member]
Goodwill [Line Items]
Acquisition	17,395
Deacon [Member]
Goodwill [Line Items]
Acquisition	4,105
Deacon [Member] \| Coatings, Sealants and Adhesives [Member]
Goodwill [Line Items]
Acquisition	4,105
Leak Freeze [Member]
Goodwill [Line Items]
Acquisition	5,741
Leak Freeze [Member] \| Specialty Chemicals [Member]
Goodwill [Line Items]
Acquisition	$ 5,741
Sure Seal Brand [Member]
Goodwill [Line Items]
Acquisition		4,502
Sure Seal Brand [Member] \| Industrial Products [Member]
Goodwill [Line Items]
Acquisition		$ 4,502

Goodwill and Intangible Assets - Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Intangible Assets [Line Items]
Gross Amount	$ 91,012	$ 54,664
Accumulated Amortization	(26,439)	(21,719)
Trade Names and Trademarks [Member]
Intangible Assets [Line Items]
Gross Amount	$ 24,154	8,052
Non-compete Agreements [Member]
Intangible Assets [Line Items]
Useful Life	5 years
Gross Amount	$ 1,310	2,877
Accumulated Amortization	$ (405)	(2,458)
Patents [Member]
Intangible Assets [Line Items]
Useful Life	12 years
Gross Amount	$ 14,458	14,284
Accumulated Amortization	$ (8,600)	(7,608)
Customer Lists and Amortized Trademarks [Member]
Intangible Assets [Line Items]
Useful Life	12 years
Gross Amount	$ 71,475	37,091
Accumulated Amortization	$ (17,080)	(11,516)
Other [Member]
Intangible Assets [Line Items]
Useful Life	12 years
Gross Amount	$ 3,769	412
Accumulated Amortization	$ (354)	$ (137)

Goodwill and Intangible Assets - Schedule of Intangible Assets (Parenthetical) (Detail) $ in Millions	12 Months Ended
	Mar. 31, 2016 USD ($)
Non-compete Agreements [Member]
Intangible Assets [Line Items]
Write off of expired and fully amortized intangible assets	$ (2.9)

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 7,129	$ 4,593	$ 3,888

Goodwill and Intangible Assets - Schedule of Estimated Future Amortization of Finite-lived Intangible Assets (Detail) $ in Thousands	Mar. 31, 2016 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2017	$ 7,363
2018	7,233
2019	6,385
2020	6,142
2021	$ 5,919

Executive Compensation - Additional Information (Detail) - Executive Officer [Member] - USD ($) $ / shares in Units, $ in Millions				12 Months Ended	16 Months Ended
	Dec. 29, 2017	Dec. 29, 2016	Dec. 29, 2015	Mar. 31, 2016	Dec. 29, 2015	Sep. 30, 2015	Aug. 28, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Executive compensation expense for the cash incentive payments				$ 1.3
Stock compensation expense				0.3
Deferred executive compensation expense for the cash incentive payments				2.4
Deferred executive compensation expense for the stock compensation payments				$ 1.2
Stock Appreciation Rights (SARs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of aggregate appreciation to be received					6.00%
Share Price							$ 36.16
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock granted						258,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock granted						127,000
Trigger Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity based awards vest and become exercisable			33.00%
Scenario, Forecast [Member] \| Trigger Event [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity based awards vest and become exercisable	33.00%	33.00%

Share-Based Compensation - Additional Information (Detail) - 2015 Plan [Member] $ in Thousands		1 Months Ended	12 Months Ended
	Sep. 30, 2015 USD ($) shares	Sep. 30, 2015 Installments shares	Mar. 31, 2016 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense \| $	$ 0		$ 956
Stock Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for issuance			1,404,083
Stock Compensation Plan [Member] \| Share Distribution [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued related to spin-off			510,447
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of annual installments, options exercisable \| Installments		5
Stock based compensation expense \| $			$ 206
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awardees received additional shares for each share held		1
Stock based compensation expense \| $			$ 750
Maximum [Member] \| Stock Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock granted	2,000,000	2,000,000
Maximum [Member] \| Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, expiration period		10 years
Maximum [Member] \| Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, expiration period		5 years
Share based compensation, vesting period		5 years
Minimum [Member] \| Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, expiration period		1 year
Share based compensation, vesting period		1 year

Share-Based Compensation - Schedule of Share-Based Compensation (Detail) - 2015 Plan [Member] - USD ($) $ in Thousands		12 Months Ended
	Sep. 30, 2015	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 0	$ 956
Related income tax benefit		(335)
Net share-based compensation expense		621
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		206
Related income tax benefit		(72)
Net share-based compensation expense		134
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		750
Related income tax benefit		(263)
Net share-based compensation expense		$ 487

Share-Based Compensation - Stock Option Activity (Detail) - 2015 Plan [Member] - Stock Options [Member] - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding, Beginning balance	0
Number of Shares, Granted	368,487
Number of Shares, Exercised	(5,974)	0
Number of Shares, Canceled	0
Number of Shares, Outstanding, Ending balance	362,513	0
Exercisable at March 31, 2016, Number of shares	131,161
Weighted Average Exercise Price, Outstanding, Beginning balance	$ 0.00
Weighted Average Exercise Price, Granted	24.40
Weighted Average Exercise Price, Exercised	16.11
Weighted Average Exercise Price, Canceled	0
Weighted Average Exercise Price, Outstanding, Ending balance	24.53	$ 0.00
Exercisable at March 31, 2016, Exercise Price	$ 23.67
Outstanding, Remaining Contractual Life	8 years
Exercisable, Remaining Contractual Life	7 years 6 months
Outstanding, Aggregate Intrinsic Value	$ 2.7
Exercisable, Aggregate Intrinsic Value	$ 1.1

Share-Based Compensation (Stock Option Activity) - Additional Information (Detail) - 2015 Plan [Member] - Stock Options [Member] - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs related to non-vested stock option	$ 0.8
Weighted average vesting period	1 year 10 months 24 days
Stock options, number of shares, granted	368,487
Stock options, granted, fair value	$ 6.67
Stock options, number of shares, exercised	(5,974)	0
Stock options, vested, fair value	$ 0.5

Share-Based Compensation - Restricted Stock Activity (Detail) - 2015 Plan [Member] - Restricted Stock [Member]	12 Months Ended
	Mar. 31, 2016 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Shares, Outstanding, Beginning balance \| shares	0.00
Number of Shares, Granted \| shares	230,706
Number of Shares, Vested \| shares	(45,453)
Number of Shares, Canceled \| shares	(3,276)
Number of Shares, Outstanding, Ending balance \| shares	181,977
Weighted Average Grant Date Fair Value, Outstanding, Beginning balance \| $ / shares	$ 0.00
Weighted Average Grant Date Fair Value, Granted \| $ / shares	22.14
Weighted Average Grant Date Fair Value, Vested \| $ / shares	15.41
Weighted Average Grant Date Fair Value, Canceled \| $ / shares	28.21
Weighted Average Grant Date Fair Value, Outstanding, Ending balance \| $ / shares	$ 23.72

Share-Based Compensation (Restricted Stock Activity) - Additional Information (Detail) - 2015 Plan [Member] - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Sep. 30, 2015	Mar. 31, 2016
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs related to unvested restricted shares		$ 3.0
Weighted average vesting period		2 years
Fair value of restricted shares vested		$ 0.7
Restricted stock granted		230,706
Restricted Stock [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Restricted Stock [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Restricted Stock Performance Shares [Member] \| Cliff Vesting [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock granted		17,449
Vesting period		36 months
Restricted Stock Performance Shares [Member] \| Cliff Vesting [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based vesting range		0.00%
Restricted Stock Performance Shares [Member] \| Cliff Vesting [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based vesting range		100.00%

Details of Certain Consolidated Balance Sheet Captions - Schedule of Accounts Receivable (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 53,845	$ 50,633
Less: Allowance for doubtful accounts	(1,208)	(1,692)
Accounts receivable, net	52,637	48,941
Accounts Receivable Trade [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	53,423	50,487
Other Receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 422	$ 146

Details of Certain Consolidated Balance Sheet Captions - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 26,019	$ 21,837
Work in process	5,432	5,626
Finished goods	26,087	25,325
Total inventories	57,538	52,788
Less: LIFO reserve	(5,302)	(5,456)
Less: Obsolescence reserve	(602)	(157)
Inventories, net	$ 51,634	$ 47,175

Details of Certain Consolidated Balance Sheet Captions - Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Property, Plant and Equipment [Abstract]
Land improvements	$ 2,129	$ 2,129
Buildings and improvements	46,004	42,191
Plant, office and laboratory equipment	65,732	62,358
Property, plant and equipment, gross	113,865	106,678
Less: Accumulated depreciation	(59,035)	(52,954)
Property, plant and equipment	54,830	53,724
Land	2,610	1,242
Construction in progress	6,917	1,871
Property, plant and equipment, net	$ 64,357	$ 56,837

Details of Certain Consolidated Balance Sheet Captions - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Property, Plant and Equipment [Abstract]
Depreciation of property, plant and equipment	$ 7,032	$ 5,922	$ 5,225
Cost of revenue	$ 4,600	$ 3,900	$ 3,200

Details of Certain Consolidated Balance Sheet Captions - Schedule of Other Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Property held for investment	$ 9,290	$ 9,300
Deferred income taxes		5,651
Retirement assets in excess of benefit obligations	2,063	338
Other	4,545	457
Other assets	$ 15,898	$ 15,746

Details of Certain Consolidated Balance Sheet Captions - Schedule of Other Assets (Parenthetical) (Detail) $ in Millions	Mar. 31, 2016 USD ($)
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Assets held for sale	$ 6.2

Details of Certain Consolidated Balance Sheet Captions - Schedule of Accrued and Other Current Expenses (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Payables and Accruals [Abstract]
Compensation and related benefits	$ 12,502	$ 9,212
Rebates and marketing agreements	1,976	1,515
Commissions	1,378	1,157
Sales and property taxes	517	373
Other accrued expenses	4,717	3,744
Accrued and other current liabilities	$ 21,090	$ 16,001

Details of Certain Consolidated Balance Sheet Captions - Schedule of Other Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Other Liabilities, Noncurrent [Abstract]
Contingent consideration	$ 5,854	$ 5,115
Deferred income taxes	3,793
Other	2,173	2,595
Other liabilities	$ 11,820	$ 7,710

Long-Term Debt - Schedule of Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Debt Instrument [Line Items]
Total	$ 89,682	$ 26,704
Less: Current portion	(561)	(13,561)
Long-term debt	89,121	13,143
Total debt	89,682	26,704
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit	76,539
RectorSeal [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Line of credit		13,000
Whitmore [Member] \| Secured Term Loan [Member]
Debt Instrument [Line Items]
Term loan	$ 13,143	$ 13,704

Long-Term Debt - Schedule of Long-Term Debt (Parenthetical) (Detail)	Mar. 31, 2016	Mar. 31, 2015
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Interest rate	2.18%
Line of Credit [Member] \| RectorSeal [Member]
Debt Instrument [Line Items]
Interest rate	1.77%	1.77%
Secured Term Loan [Member] \| Whitmore [Member]
Debt Instrument [Line Items]
Interest rate	2.43%	2.17%

Long-Term Debt (Revolving Credit Agreement) - Additional Information (Detail)		1 Months Ended	12 Months Ended
	Dec. 11, 2015 USD ($)	Apr. 30, 2016 USD ($)	Mar. 31, 2016 USD ($)
Debt Instrument [Line Items]
Line of credit amount repaid			$ 21,500,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Additional borrowing capacity with accordion feature	$ 250,000,000
Line of credit outstanding amount			$ 76,539,000
Minimum fixed charge coverage ratio			1.25
Maximum leverage ratio of EBITDA to Funded Debt			3.00
Commitment fee paid	0.25%
Revolving Credit Facility [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Line of credit amount repaid		$ 5,000,000
Revolving Credit Facility [Member] \| Prime Rate [Member]
Debt Instrument [Line Items]
Spread on interest rate	0.75%
Revolving Credit Facility [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread on interest rate	1.75%
Revolving Credit Agreement, Accordion Feature [Member]
Debt Instrument [Line Items]
Additional borrowing capacity with accordion feature	$ 50,000,000

Long-Term Debt (RectorSeal Line of Credit) - Additional Information (Detail) - USD ($)		12 Months Ended
	Dec. 11, 2015	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Debt Instrument [Line Items]
Repayments on lines of credit		$ 94,561,000	$ 30,622,000	$ 15,467,000
RectorSeal [Member] \| Line of Credit [Member]
Debt Instrument [Line Items]
Available borrowing capacity under credit facility		$ 30,000,000
Line of credit			$ 13,000,000
Repayments on lines of credit	$ 6,500,000
RectorSeal [Member] \| Line of Credit [Member] \| London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread on interest rate		1.50%
RectorSeal [Member] \| Line of Credit [Member] \| Prime Rate [Member]
Debt Instrument [Line Items]
Spread on interest rate		(0.75%)

- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

Long-Term Debt (Strathmore Acquisition Term Loan) - Additional Information (Detail) - Strathmore [Member] - Acquisition Term Loan [Member] - USD ($)		1 Months Ended		12 Months Ended
	Dec. 11, 2015	Oct. 31, 2015	Jul. 31, 2015	Mar. 31, 2016
Debt Instrument [Line Items]
Term loan				$ 70,000,000
Debt instrument, periodic principal payment		$ 875,000	$ 875,000
Principal balance, repaid	$ 68,300,000
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread on interest rate				3.00%

Long-Term Debt (Whitmore Line of Credit) - Additional Information (Detail) - Whitmore [Member] - Line of Credit [Member]	12 Months Ended
	Mar. 31, 2016 USD ($)
Debt Instrument [Line Items]
Available borrowing capacity under credit facility	$ 20,000,000
Prime Rate [Member]
Debt Instrument [Line Items]
Spread on interest rate	(0.50%)

Long-Term Debt (Whitmore Term Loan) - Additional Information (Detail) - Whitmore [Member] - Secured Term Loan [Member] - USD ($)	3 Months Ended				12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Mar. 31, 2015
Debt Instrument [Line Items]
Term loan					$ 13,143,000	$ 13,704,000
London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Spread on interest rate					2.00%
Scenario, Forecast [Member]
Debt Instrument [Line Items]
Debt instrument, periodic principal payment	$ 140,000	$ 140,000	$ 140,000	$ 140,000

Long-Term Debt (Balco Line of Credit) - Additional Information (Detail) - Balco [Member] - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Debt Instrument [Line Items]
Available borrowing capacity under credit facility	$ 1,500,000
Floor interest rate percentage	3.75%
Line of credit		$ 0
Prime Rate [Member]
Debt Instrument [Line Items]
Spread on interest rate	(0.50%)

- Definition

+ References + Details

Long-Term Debt - Aggregate Maturities of Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Maturities of Long-term Debt [Abstract]
2017	$ 561
2018	561
2019	561
2020	561
2021	77,100
Thereafter	10,338
Total	$ 89,682	$ 26,704

Long-Term Debt - Summary of Future Minimum Lease Payments (Detail) $ in Thousands	Mar. 31, 2016 USD ($)
Leases [Abstract]
2017	$ 2,364
2018	1,733
2019	1,467
2020	1,404
2021	1,238
Thereafter	4,648
Total	$ 12,854

Long-Term Debt (Operating Leases) - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Leases [Abstract]
Rental expense under operating leases	$ 2.6	$ 2.4	$ 2.1

Earnings Per Share - Additional Information (Detail) - shares shares in Thousands	Mar. 31, 2016	Sep. 30, 2015	Mar. 31, 2015
Earnings Per Share [Abstract]
Common shares, issued	15,659	15,600	15,659

Earnings Per Share - Reconciliation of Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Net income for basic and diluted earnings per share	$ 5,400	$ 6,400	$ 8,200	$ 9,700	$ 1,800	$ 2,000	$ 13,000	$ 8,700	$ 25,471	$ 29,705	$ 24,732
Weighted average shares:
Common stock									15,443	15,441	15,441
Participating securities									182	142	142
Denominator for basic earnings per common share									15,625	15,583	15,583
Potentially dilutive securities									50	41	41
Denominator for diluted earnings per common share									15,675	15,624	15,624
Earnings per common share:
Basic	$ 0.34	$ 0.41	$ 0.53	$ 0.63	$ 0.12	$ 0.13	$ 0.83	$ 0.56	$ 1.63	$ 1.91	$ 1.59
Diluted	$ 0.34	$ 0.41	$ 0.52	$ 0.62	$ 0.12	$ 0.13	$ 0.83	$ 0.55	$ 1.62	$ 1.90	$ 1.58

Earnings Per Share - Reconciliation of Earnings Per Share (Parenthetical) (Detail) - shares	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share	0	29,877	29,877

Derivative Instruments and Hedge Accounting - Additional Information (Detail) - Interest Rate Swap [Member] - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Derivative [Line Items]
Notional amount	$ 46.4	$ 13.7
Maximum remaining length of interest rate swap contract	13 years 3 months 18 days

Derivative Instruments and Hedge Accounting - Fair Value of Derivatives (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Derivatives, Fair Value [Line Items]
Accrued expenses and other current liabilities	$ 21,090	$ 16,001
Other long-term liabilities	11,820	7,710
Hedging Instrument [Member] \| Interest Rate Swap [Member]
Derivatives, Fair Value [Line Items]
Accrued expenses and other current liabilities	511
Other long-term liabilities	$ 1,366	$ 1,206

Fair Value Measurements - Additional Information (Detail) - USD ($)	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Oct. 01, 2015	Apr. 01, 2015	Mar. 31, 2015	Jan. 02, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability recognized	$ 5,854,000				$ 5,115,000
Change in fair value of contingent payment	(1,950,000)
Deacon [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability recognized			$ 500,000
Sure Seal Brand [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability recognized						$ 4,900,000
Strathmore Products, Inc [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability recognized		$ 0		$ 2,000,000
Hierarchical Level III [Member] \| Estimate of Fair Value Measurement [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability recognized	5,900,000
Hierarchical Level III [Member] \| Estimate of Fair Value Measurement [Member] \| Deacon [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in fair value of contingent payment	400,000
Hierarchical Level III [Member] \| Estimate of Fair Value Measurement [Member] \| Sure Seal Brand [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability recognized	5,500,000				$ 5,100,000
Change in fair value of contingent payment	400,000
Hierarchical Level III [Member] \| Estimate of Fair Value Measurement [Member] \| Strathmore Products, Inc [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration liability recognized	0
Change in fair value of contingent payment	$ 2,000,000

Retirement Plans (Defined Benefit Plans) - Additional Information (Detail) - USD ($)	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Current target allocations, Minimum percentage		25.00%
Current target allocations, Maximum percentage		43.00%
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Current target allocations, Minimum percentage		40.00%
Current target allocations, Maximum percentage		65.00%
Alternative Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Current target allocations, Minimum percentage		5.00%
Current target allocations, Maximum percentage		15.00%
Qualified Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan number of consecutive years of highest compensation		5 years
Defined benefit plan number of years of employment		10 years
Contributions made under defined benefit plan		$ 0	$ 0	$ 0
Qualified Plan [Member] \| Scenario, Forecast [Member]
Defined Benefit Plan Disclosure [Line Items]
Estimated prior service costs amortized from accumulated other comprehensive loss into pension expense in next fiscal year	$ 0
Estimated net loss amortized from accumulated other comprehensive loss into pension expense in next fiscal year	$ 0

Retirement Plans (Defined Benefit Plans) - Summary of Assumptions Related to Retirement Plan (Detail) - Qualified Plan [Member]	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Assumptions used to determine benefit obligations:
Discount rate	4.50%	4.25%	5.00%
Rate of compensation increases		5.00%	5.00%
Assumptions used to determine net pension expense:
Discount rate	4.25%	5.00%	4.50%
Expected return on plan assets	7.00%	7.00%	7.00%
Rate of compensation increases		5.00%	5.00%

Retirement Plans - Schedule of Net Pension Expense (Defined Benefit Plans) - Qualified Plan (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Curtailment (benefit) expense	$ (8,020)
Qualified Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the year	2,042	$ 3,039	$ 2,965
Interest cost on projected benefit obligation	2,666	2,513	2,066
Expected return on assets	(3,226)	(2,406)	(2,115)
Net amortization and deferral	(27)	58	363
Curtailment (benefit) expense	(8,051)
Net pension (benefit) expense	$ (6,596)	$ 3,204	$ 3,279

Retirement Plans (Defined Benefit Plans) - Summary of Changes in Pension Obligations (Detail) - Qualified Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation at beginning of year	$ 64,015	$ 50,344
Service cost	2,042	3,039	$ 2,965
Interest cost	2,666	2,513	2,066
Actuarial loss	(2,589)	9,033
Benefits paid	(1,410)	(914)
Curtailment impact	(14,238)
Impact of Share Distribution	8,329
Benefit obligation at end of year	58,815	64,015	$ 50,344
Accumulated benefit obligation	$ 58,815	$ 50,081

Retirement Plans (Defined Benefit Plans) - Summary of Reconciliation of Plan's Assets (Detail) - Qualified Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets at beginning of year	$ 43,087	$ 42,124
Actual return on plan assets	578	1,877
Benefits paid	(1,410)	(914)
Impact of Share Distribution	18,623
Fair value of plan assets at end of year	$ 60,878	$ 43,087

Retirement Plans (Defined Benefit Plans) - Summary of Net Pension Asset (Liability) for Retirement Plan (Detail) - Qualified Plan [Member] - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	$ 60,878	$ 43,087	$ 42,124
Benefit obligation	(58,815)	(64,015)	$ (50,344)
Funded status	$ 2,063	$ (20,928)

Retirement Plans (Defined Benefit Plans) - Summary of Amounts Recognized in Balance Sheet (Detail) - Qualified Plan [Member] - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Funded status	$ 2,063	$ (20,928)
Non Current Assets [Member]
Defined Benefit Plan Disclosure [Line Items]
Funded status	$ 2,063
Noncurrent Liabilities [Member]
Defined Benefit Plan Disclosure [Line Items]
Funded status		$ (20,928)

Retirement Plans (Defined Benefit Plans) - Schedule of Change in Accumulated Other Comprehensive Loss Attributable to Components of Net Cost and Change in Benefit Obligation (Detail) - Qualified Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Accumulated other comprehensive (loss) income at beginning of year	$ (4,707)	$ 1,493
Amortization of net loss		74
Amortization of prior service credit	(18)	(36)
Curtailment impact	5,233
Impact of Share Distribution	35
Net loss arising during the year	(1,433)	(6,238)
Accumulated other comprehensive loss at end of year	$ (890)	$ (4,707)

Retirement Plans (Defined Benefit Plans) - Schedule of Amounts Recorded in Accumulated Other Comprehensive Loss (Detail) - Qualified Plan [Member] - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Net prior service cost		$ 279
Net loss	$ (890)	(4,986)
Accumulated other comprehensive loss	$ (890)	$ (4,707)	$ 1,493

Retirement Plans (Defined Benefit Plans) - Schedule of Actual Asset Allocations (Detail)	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation, percentage	1.90%	0.00%
Qualified Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation, percentage	100.00%	100.00%
Qualified Plan [Member] \| Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation, percentage	35.00%	58.00%
Qualified Plan [Member] \| Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation, percentage	59.00%	36.00%
Qualified Plan [Member] \| Other [Member]
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation, percentage	2.00%	3.00%
Qualified Plan [Member] \| Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation, percentage	4.00%	3.00%

Retirement Plans (Defined Benefit Plans) - Schedule of Fair Values of Qualified Plan Assets (Detail) - Qualified Plan [Member] - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Fair value of qualified plan assets	$ 60,878	$ 43,087	$ 42,124
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of qualified plan assets	21,183	24,928
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of qualified plan assets	35,719	15,400
Other [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of qualified plan assets	1,474	1,252
Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of qualified plan assets	2,502	1,507
Hierarchical Level I [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of qualified plan assets	9,871	17,396
Hierarchical Level I [Member] \| Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of qualified plan assets	2,455	13,647
Hierarchical Level I [Member] \| Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of qualified plan assets	3,979	1,488
Hierarchical Level I [Member] \| Other [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of qualified plan assets	935	754
Hierarchical Level I [Member] \| Cash and Cash Equivalents [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of qualified plan assets	2,502	1,507
Hierarchical Level II [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of qualified plan assets	51,007	25,691
Hierarchical Level II [Member] \| Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of qualified plan assets	18,728	11,281
Hierarchical Level II [Member] \| Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of qualified plan assets	31,740	13,912
Hierarchical Level II [Member] \| Other [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of qualified plan assets	$ 539	$ 498

Retirement Plans (Defined Benefit Plans) - Schedule of Fair Values of Qualified Plan Assets (Parenthetical) (Detail)	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan assets, Percentage	1.90%	0.00%
Capital Southwest Corporation [Member]
Defined Benefit Plan Disclosure [Line Items]
Fair value of the plan assets, Percentage	1.20%	17.70%

Retirement Plans (Defined Benefit Plans) - Summary of Expected Cash Benefit Payments (Detail) - Qualified Plan [Member] $ in Millions	Mar. 31, 2016 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2017	$ 2.1
2018	2.3
2019	2.5
2020	2.8
2021	2.9
2022-2026	$ 16.9

Retirement Plans (Restoration Plan) - Summary of Assumptions Related to Retirement Plan (Detail) - Restoration Plan [Member]	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Assumptions used to determine benefit obligations:
Discount rate	4.50%	4.25%	5.00%
Rate of compensation increases		5.00%	5.00%
Assumptions used to determine net pension expense:
Discount rate	4.25%	5.00%	4.50%
Rate of compensation increases		5.00%	5.00%

Retirement Plans (Restoration Plan) - Schedule of Net Pension Expense - Restoration Plan (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Curtailment (benefit) expense	$ (8,020)
Restoration Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost - benefits earned during the year	27	$ 66	$ 65
Interest cost on projected benefit obligation	73	66	61
Net amortization and deferral	36	63	66
Curtailment (benefit) expense	31
Net pension (benefit) expense	$ 167	$ 195	$ 192

Retirement Plans (Restoration Plan) - Additional Information (Detail) - Restoration Plan [Member] - Scenario, Forecast [Member] $ in Millions	12 Months Ended
	Mar. 31, 2017 USD ($)
Defined Benefit Plan Disclosure [Line Items]
Estimated prior service costs amortized from accumulated other comprehensive loss into pension expense in next fiscal year	$ 0.0
Estimated net loss amortized from accumulated other comprehensive loss into pension expense in next fiscal year	$ 0.1

Retirement Plans (Restoration Plan) - Summary of Changes in Pension Obligations (Detail) - Restoration Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Benefit obligation at beginning of year	$ 1,616	$ 1,513
Service cost	27	66	$ 65
Interest cost	73	66	61
Actuarial loss (gain)	304	(29)
Curtailment impact	(555)
Benefits paid	(6)
Impact of Share Distribution	287
Benefit obligation at end of year	1,746	1,616	$ 1,513
Accumulated benefit obligation	$ 1,746	$ 1,423

Retirement Plans (Restoration Plan) - Summary of Amounts Recognized in Balance Sheet (Detail) - Restoration Plan [Member] - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Funded status	$ (1,746)	$ (1,616)
Noncurrent Liabilities [Member]
Defined Benefit Plan Disclosure [Line Items]
Funded status	$ (1,746)	$ (1,616)

Retirement Plans (Restoration Plan) - Schedule of Change in Accumulated Other Comprehensive Loss Attributable to Components of Net Cost and Change in Benefit Obligation (Detail) - Restoration Plan [Member] - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Accumulated other comprehensive (loss) income at beginning of year	$ (503)	$ (396)
Amortization of net loss	20	14
Amortization of prior service (credit) cost	(3)	6
Curtailment impact	(20)
Impact of Share Distribution	(502)
Net gain (loss) arising during the year	669	(127)
Accumulated other comprehensive loss at end of year	$ (339)	$ (503)

Retirement Plans (Restoration Plan) - Schedule of Amounts Recorded in Accumulated Other Comprehensive Loss (Detail) - Restoration Plan [Member] - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Net prior service credit		$ (23)
Net loss	$ (339)	(480)
Accumulated other comprehensive loss	$ (339)	$ (503)	$ (396)

Retirement Plans (Restoration Plan) - Summary of Expected Cash Benefit Payments (Detail) - Restoration Plan [Member] $ in Millions	Mar. 31, 2016 USD ($)
Defined Benefit Plan Disclosure [Line Items]
2017	$ 0.1
2018	0.1
2019	0.1
2020	0.1
2021	0.1
2022-2026	$ 0.5

Retirement Plans (Defined Contribution Plan) - Additional Information (Detail) $ in Millions	12 Months Ended
	Mar. 31, 2016 USD ($)
Compensation and Retirement Disclosure [Abstract]
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay	6.00%
Defined Contribution Plan, Employer Discretionary Contribution of Eligible Earnings, Percent	3.00%
Contributions to defined contribution plan	$ 1.7

Retirement Plans (Employee Stock Ownership Plan) - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Contributions to the ESOP		$ 1.6	$ 2.3
Employee Stock Ownership Plan (ESOP), Shares in ESOP		929,600	898,177
ESOP expense recorded	$ 2.1
2015 Employee Stock Ownership Plan [Member]
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Contributions to the ESOP	$ 1.7
Employee Stock Ownership Plan (ESOP), Shares in ESOP	907,748
2017 Employee Stock Ownership Plan [Member]
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Contributions to the ESOP	$ 2.1

Income Taxes - Schedule of Income Before Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
U.S. Federal									$ 40,981	$ 39,511	$ 31,241
Foreign									3,244	5,417	6,285
Income before income taxes	$ 8,000	$ 9,800	$ 12,600	$ 14,500	$ 6,000	$ 4,800	$ 19,800	$ 13,600	$ 44,225	$ 44,928	$ 37,526

Income Taxes - Schedule of Income Tax Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Current U.S. Federal	$ 9,210	$ 14,920	$ 11,570
Current state and local	1,368	933	475
Current foreign	914	1,637	1,374
Current provision for income taxes	11,492	17,490	13,419
Deferred U.S. Federal	7,573	(1,848)	(567)
Deferred state and local	(136)	3	(74)
Deferred foreign	(175)	(422)	16
Deferred provision for income taxes	7,262	(2,267)	(625)
U.S. Federal	16,783	13,072	11,003
State and local	1,232	936	401
Foreign	739	1,215	1,390
Provision for income taxes	$ 18,754	$ 15,223	$ 12,794

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Income Taxes Disclosure [Line Items]
U.S. federal statutory income tax rate percentage	35.00%
Effective tax rates	42.40%	33.90%	34.10%
Tax effected net operating loss carryforwards	$ 160,000
Expiry period of net operating loss carryforwards	5 years
Accrued interest on uncertain tax positions	$ 200,000	$ 0	$ 0
Accrued penalties on uncertain tax positions	200,000	0	0
Amount taxed	$ 15,479,000	$ 15,727,000	$ 13,225,000
Subsidiaries [Member]
Income Taxes Disclosure [Line Items]
U.S. federal statutory income tax rate percentage	34.00%
Amount taxed	$ 10,000,000

Income Taxes - Reconciliation of Income Tax Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Computed tax expense at statutory rate	$ 15,479	$ 15,727	$ 13,225
Increase (reduction) in income taxes resulting from:
Permanent differences	1,399	529	542
FIN 48 liability	1,277
State and local income taxes, net of federal benefits	1,055	569	205
Foreign rate differential	(642)	(75)	(168)
Domestic production activity deduction	(420)	(817)	(719)
Difference in U.S. rate	(107)	(45)	108
Other, net	713	(665)	(399)
Provision for income taxes	$ 18,754	$ 15,223	$ 12,794

Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Mar. 31, 2015
Deferred tax assets:
Inventory reserves	$ 2,319	$ 1,540
Accrued compensation	1,712	694
Accrued expenses	370	138
Net operating loss carryforwards	160
Pension and other employee benefits	38	8,370
Other, net	2,289	1,119
Deferred tax assets	6,888	11,861
Valuation allowance	(107)
Deferred tax assets, net of valuation allowance	6,781	11,861
Property, plant and equipment	(5,819)	(4,239)
Goodwill and intangible assets	(2,567)	(1,473)
FIN 48 liability	(1,277)
1031 Exchanges	(716)	(460)
Other, net	(195)	(38)
Deferred tax liabilities	(10,574)	(6,210)
Net deferred tax liabilities	$ (3,793)
Net deferred tax assets		$ 5,651

Income Taxes - Summary of Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits (Detail) $ in Thousands	12 Months Ended
	Mar. 31, 2016 USD ($)
Income Tax Disclosure [Abstract]
Increases related to prior year tax positions	$ 900
Balance at March 31, 2016	$ 900

Related Party Transactions - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Related Party Transaction [Line Items]
Selling, general and administrative expenses	$ 100,378	$ 81,681	$ 72,864
Dividends paid	300	$ 8,294	$ 8,651
Related party, stock held in employee stock-ownership plan		929,600	898,177
Subsidiary of Capital Southwest Corporation [Member] \| Management Fees [Member]
Related Party Transaction [Line Items]
Selling, general and administrative expenses	200	$ 500	$ 500
Capital Southwest Corporation [Member]
Related Party Transaction [Line Items]
Dividends paid	$ 300	$ 8,300	$ 8,700
Related party, stock held in employee stock-ownership plan	907,748
Capital Southwest Corporation [Member] \| Qualified Plan [Member]
Related Party Transaction [Line Items]
Related party, stock held in qualified plan	52,570

Other Comprehensive Income - Analysis of Changes in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	$ 204,601	$ 196,186	$ 176,522
Other comprehensive income (loss)	2,595	(12,790)	3,583
Balance at end of period	258,010	204,601	196,186
Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(3,877)	1,400
Other comprehensive income (loss)	(1,371)	(5,277)
Balance at end of period	(5,248)	(3,877)	1,400
Interest Rate Swaps [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(1,206)	0
Unrealized gains, net of tax	(407)	(1,206)
Reclassification from AOCI, net of tax	392	0
Other comprehensive income (loss)	(15)	(1,206)
Balance at end of period	(1,221)	(1,206)	0
Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at beginning of period	(5,210)	1,097
Other comprehensive income (loss)	3,981	(6,307)
Balance at end of period	(1,229)	(5,210)	$ 1,097
Defined Benefit Plans, Amortization of Net Prior Service Benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from AOCI, net of tax	(21)	(30)
Defined Benefit Plans, Amortization of Net Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from AOCI, net of tax	20	88
Accumulated Defined Benefit Plans Adjustment Net Income Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net loss arising during the year, net of tax	(764)	$ (6,365)
Accumulated Defined Benefit Plans Adjustment Impact of Share Distribution [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Impact of share distribution, net of tax	(467)
Defined Benefit Plans, Curtailment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from AOCI, net of tax	$ 5,213

Other Comprehensive Income - Analysis of Changes in Accumulated Other Comprehensive Income (Loss) (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Interest Rate Swaps [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Unrealized gains, tax	$ 219	$ 649
Reclassification from AOCI, tax	(211)	0
Defined Benefit Plans, Amortization of Net Prior Service Benefits [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from AOCI, tax	11	16
Defined Benefit Plans, Amortization of Net Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from AOCI, tax	(11)	(47)
Accumulated Defined Benefit Plans Adjustment Net Income Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net loss arising during the year, tax	(411)	$ (3,427)
Accumulated Defined Benefit Plans Adjustment Impact of Share Distribution [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Impact of Share Distribution, tax	251
Defined Benefit Plans, Curtailment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Reclassification from AOCI, tax	$ (2,807)

Segments - Additional Information (Detail)	12 Months Ended
Segments - Additional Information (Detail)	Mar. 31, 2016 Segments
Segment Reporting [Abstract]
Number of business segments	3

Segments - Summary of Financial Information of Reporting Segments Reconciled to Amounts Reported in Consolidated Financial Statements (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Segment Reporting Information [Line Items]
Revenues, net	$ 64,000	$ 60,900	$ 68,100	$ 68,800	$ 76,300	$ 70,900	$ 83,700	$ 88,900	$ 319,831	$ 261,834	$ 231,713
Operating income									47,486	44,034	37,913
Total assets	392,260				286,521				392,260	286,521	277,820
Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues, net									319,559	260,279	230,737
Operating income									54,476	44,147	37,830
Total assets	381,008				274,547				381,008	274,547	253,124
Operating Segments [Member] \| Industrial Products [Member]
Segment Reporting Information [Line Items]
Revenues, net									138,594	118,422	93,043
Operating income									31,075	19,711	12,593
Total assets	154,583				137,148				154,583	137,148	121,925
Operating Segments [Member] \| Coatings, Sealants and Adhesives [Member]
Segment Reporting Information [Line Items]
Revenues, net									106,035	52,119	46,950
Operating income									10,911	11,420	9,360
Total assets	128,886				42,010				128,886	42,010	40,986
Operating Segments [Member] \| Specialty Chemicals [Member]
Segment Reporting Information [Line Items]
Revenues, net									74,930	89,738	90,744
Operating income									12,490	13,016	15,877
Total assets	97,539				95,389				97,539	95,389	90,213
Eliminations and Other [Member]
Segment Reporting Information [Line Items]
Revenues, net									272	1,555	976
Operating income									(6,990)	(113)	83
Total assets	$ 11,252				$ 11,974				$ 11,252	$ 11,974	$ 24,696

Segments - Schedule of Sales and Long-Lived Assets by Geographic Area (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues	$ 64,000	$ 60,900	$ 68,100	$ 68,800	$ 76,300	$ 70,900	$ 83,700	$ 88,900	$ 319,831	$ 261,834	$ 231,713
Long-lived assets	233,868				148,574				$ 233,868	$ 148,574	$ 148,868
Net Revenues [Member] \| Geographic Concentration Risk [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage									100.00%	100.00%	100.00%
Long Lived Assets [Member] \| Geographic Concentration Risk [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage									100.00%	100.00%	100.00%
U.S. [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues									$ 257,941	$ 197,944	$ 168,473
Long-lived assets	220,878				134,117				$ 220,878	$ 134,117	$ 135,296
U.S. [Member] \| Net Revenues [Member] \| Geographic Concentration Risk [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage									80.60%	75.60%	72.70%
U.S. [Member] \| Long Lived Assets [Member] \| Geographic Concentration Risk [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage									94.40%	90.30%	90.90%
Non-U.S. [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Net revenues									$ 61,890	$ 63,890	$ 63,240
Long-lived assets	$ 12,990				$ 14,457				$ 12,990	$ 14,457	$ 13,572
Non-U.S. [Member] \| Net Revenues [Member] \| Geographic Concentration Risk [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage									19.40%	24.40%	27.30%
Non-U.S. [Member] \| Long Lived Assets [Member] \| Geographic Concentration Risk [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage									5.60%	9.70%	9.10%

Quarterly Financial Data (Unaudited) - Summary of Unaudited Quarterly Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Revenues, net	$ 64,000	$ 60,900	$ 68,100	$ 68,800	$ 76,300	$ 70,900	$ 83,700	$ 88,900	$ 319,831	$ 261,834	$ 231,713
Gross profit	30,700	28,700	33,200	33,800	34,600	32,100	40,800	40,400	147,864	126,425	112,086
Income before income taxes	8,000	9,800	12,600	14,500	6,000	4,800	19,800	13,600	44,225	44,928	37,526
Net income	$ 5,400	$ 6,400	$ 8,200	$ 9,700	$ 1,800	$ 2,000	$ 13,000	$ 8,700	$ 25,471	$ 29,705	$ 24,732
Net earnings per common share (a)(b):
Basic	$ 0.34	$ 0.41	$ 0.53	$ 0.63	$ 0.12	$ 0.13	$ 0.83	$ 0.56	$ 1.63	$ 1.91	$ 1.59
Diluted	$ 0.34	$ 0.41	$ 0.52	$ 0.62	$ 0.12	$ 0.13	$ 0.83	$ 0.55	$ 1.62	$ 1.90	$ 1.58

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Quarterly Financial Data (Unaudited) - Summary of Unaudited Quarterly Data (Parenthetical) (Detail) - shares shares in Thousands	Mar. 31, 2016	Sep. 30, 2015	Mar. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Common shares, issued	15,659	15,600	15,659