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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Dec. 31, 2017	Feb. 05, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q3
Trading Symbol	CSWI
Entity Registrant Name	CSW INDUSTRIALS, INC.
Entity Central Index Key	0001624794
Current Fiscal Year End Date	--03-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		15,969,204

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Income Statement [Abstract]
Revenues, net	$ 69,036	$ 65,257	$ 242,757	$ 211,035
Cost of revenues	(38,834)	(37,888)	(131,032)	(112,587)
Gross profit	30,202	27,369	111,725	98,448
Selling, general and administrative expenses	(21,923)	(22,230)	(71,545)	(70,623)
Impairment expenses	0	(13)	0	(1,096)
Operating income	8,279	5,126	40,180	26,729
Interest expense, net	(540)	(673)	(1,842)	(2,163)
Other income (expense), net	36	587	(23)	1,864
Income before income taxes	7,775	5,040	38,315	26,430
Provision for income taxes	(5,140)	(3,181)	(16,243)	(11,953)
Income from continuing operations	2,635	1,859	22,072	14,477
Loss from discontinued operations, net of tax	(36,672)	(1,454)	(40,293)	(6,134)
Net (loss) income	$ (34,037)	$ 405	$ (18,221)	$ 8,343
Basic earnings (loss) per common share:
Continuing operations (USD per share)	$ 0.17	$ 0.12	$ 1.41	$ 0.92
Discontinued operations (USD per share)	(2.34)	(0.09)	(2.57)	(0.39)
Net (loss) income (USD per share)	(2.17)	0.03	(1.16)	0.53
Diluted earnings (loss) per common share:
Continuing (USD per share)	0.17	0.12	1.41	0.92
Discontinued operations (USD per share)	(2.34)	(0.09)	(2.57)	(0.39)
Net (loss) income (USD per share)	$ (2.17)	$ 0.03	$ (1.16)	$ 0.53

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (34,037)	$ 405	$ (18,221)	$ 8,343
Other comprehensive income (loss):
Foreign currency translation adjustments	(134)	(1,534)	3,503	(3,466)
Cash flow hedging activity, net of taxes of $(57), $(420), $(38) and $(383), respectively	106	779	72	712
Pension and other post retirement effects, net of taxes of $(5), $(1), $9 and $(5), respectively	9	2	(17)	10
Other comprehensive (loss) income	(19)	(753)	3,558	(2,744)
Comprehensive (loss) income	$ (34,056)	$ (348)	$ (14,663)	$ 5,599

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Cash flow hedging activity, taxes	$ (57)	$ (420)	$ (38)	$ (383)
Pension and other post retirement effects, taxes	$ (5)	$ (1)	$ 9	$ (5)

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Current assets:
Cash and cash equivalents	$ 26,542	$ 23,146
Bank time deposits	0	1,776
Accounts receivable, net of allowance of $1,697 and $1,466, respectively	51,407	59,831
Inventories, net	45,487	43,665
Prepaid expenses and other current assets	6,164	3,084
Current assets, discontinued operations	3,023	14,781
Total current assets	132,623	146,283
Property, plant and equipment, net of accumulated depreciation of $59,791 and $56,002, respectively	55,235	56,812
Goodwill	81,870	80,863
Intangible assets, net	54,947	59,312
Other assets	23,785	16,010
Non-current assets, discontinued operations	0	38,809
Total assets	348,460	398,089
Current liabilities:
Accounts payable	14,946	10,372
Accrued and other current liabilities	24,708	21,619
Current portion of long-term debt	561	561
Current liabilities, discontinued operations	3,613	5,184
Total current liabilities	43,828	37,736
Long-term debt	39,600	72,646
Retirement benefits payable	809	1,464
Other long-term liabilities	3,788	13,805
Total liabilities	88,025	125,651
Equity:
Common shares, $0.01 par value Shares authorized - 50,000 Shares issued - 15,969 and 15,846, respectively	158	157
Preferred shares, $0.01 par value Shares authorized - 10,000 Shares issued - 0	0	0
Additional paid-in capital	41,851	38,701
Treasury shares, at cost – 52 and 29 shares, respectively	(2,008)	(1,011)
Retained earnings	227,311	245,026
Accumulated other comprehensive loss	(6,877)	(10,435)
Total equity	260,435	272,438
Total liabilities and equity	$ 348,460	$ 398,089

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Statement of Financial Position [Abstract]
Accounts receivable, allowance	$ 1,697	$ 1,466
Property, plant and equipment, accumulated depreciation	$ 59,791	$ 56,002
Common shares, par value (USD per share)	$ 0.01	$ 0.01
Common shares, authorized (shares)	50,000,000	50,000,000
Common shares, issued (shares)	15,969,000	15,846,000
Preferred shares, par value (USD per share)	$ 0.01	$ 0.01
Preferred shares, authorized (shares)	10,000,000	10,000,000
Preferred shares, issued (shares)	0	0
Treasury shares, issued (shares)	52,000	29,000

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Income from continuing operations	$ 22,072	$ 14,477
Loss from discontinued operations	(40,293)	(6,134)
Net (loss) income	(18,221)	8,343
Adjustments to reconcile income from continuing operations to net cash provided (used) by operating activities:
Depreciation	5,697	5,367
Amortization of intangible and other assets	5,450	4,633
Provision for doubtful accounts	220	(29)
Provision for inventory reserves	(6)	533
Share-based and other executive compensation	3,329	3,837
Acquisition-related non-cash gain	0	(376)
Net (gain) loss on sales of assets	(89)	30
Net pension benefit	(974)	(843)
Impairment of assets	0	1,096
Net deferred taxes	(430)	(2,076)
Changes in operating assets and liabilities:
Accounts receivable, net	8,673	2,912
Inventories, net	(1,262)	(2,099)
Prepaid expenses and other current assets	375	(639)
Other assets	9	(158)
Accounts payable and other current liabilities	10,343	3,988
Retirement benefits payable and other liabilities	(6,357)	3,094
Net cash provided by operating activities from continuing operations	47,050	33,747
Net cash used in operating activities from discontinued operations	(8,291)	(1,074)
Net cash provided by operating activities	38,759	32,673
Cash flows from investing activities:
Capital expenditures	(4,263)	(5,602)
Proceeds from sale of assets held for investment	546	97
Proceeds from sale of assets	22	193
Net change in bank time deposits	1,840	11,442
Net cash (used in) provided by investing activities from continuing operations	(1,855)	6,130
Net cash used in investing activities from discontinued operations	(825)	(1,362)
Net cash (used in) provided by investing activities	(2,680)	4,768
Cash flows from financing activities:
Repayments of lines of credit	(33,046)	(42,835)
Payment of deferred loan costs	(422)	0
Purchase of treasury shares	(997)	(972)
Proceeds from stock option activity	328	2,169
Net cash used in financing activities	(34,137)	(41,638)
Effect of exchange rate changes on cash and cash equivalents	1,454	(1,376)
Net change in cash and cash equivalents	3,396	(5,573)
Cash and cash equivalents, beginning of period	23,146	25,987
Cash and cash equivalents, end of period	$ 26,542	$ 20,414

ORGANIZATION AND OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES

9 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

ORGANIZATION AND OPERATIONS AND SUMMARY OF 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 two segments (refer to the discussion below regarding Discontinued Operations and Segment Realignment): Industrial Products 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 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, Air Sentry® breathers, Deacon® high temperature sealants, AC Leak Freeze® refrigerant leak repair solutions and Greco Aluminum Railings®. Our products are well known in the specific markets 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.

Basis of Presentation

The condensed consolidated financial statements included in this Quarterly Report on Form 10-Q for the quarterly period ended December 31, 2017 (“Quarterly Report”) includes all revenues, costs, assets and liabilities directly attributable to CSWI and have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”).

The condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary to present a fair statement of CSWI’s financial position as of December 31, 2017, and the results of operations for the three and nine month periods ended December 31, 2017 and 2016. All adjustments are of a normal, recurring nature. All significant intercompany balances and transactions have been eliminated in consolidation.

The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in CSWI’s Annual Report on Form 10-K for the fiscal year ended March 31, 2017 (the “Annual Report”).

Discontinued Operations and Segment Realignment

During the third quarter of fiscal year 2018, we committed to a plan to sell our Strathmore Products business (the "Coatings business"). This determination resulted in the reclassification of the assets comprising that business to assets held-for-sale, and a corresponding adjustment to our condensed consolidated statements of operations to reflect discontinued operations for all periods presented.

Additionally, as a result of our determination to sell the Coatings business, we have realigned our reportable segments to better align our resources to support our ongoing business strategy. We retained our Industrial Products Segment and combined the remaining business lines of our historical Coatings, Sealants & Adhesives Segment into our Specialty Chemicals Segment. The reportable segment realignment is consistent with the manner in which we evaluate performance and make resource allocation decisions, subsequent to the decision to sell the Coatings business. Historical segment information has been retrospectively adjusted to reflect the effect of this change. Our segment information is more fully disclosed in Note 17. Historical information also reflects discontinued operations presentation for the portion of our business meeting the held-for-sale criteria as described in Note 3.

Restructuring

During the nine months ended December 31, 2016, we initiated a restructuring program related to our Industrial Products segment. The program was initiated in response to excess capacity due to contraction in the markets we serve, which caused us to perform a facility rationalization analysis. There were no restructuring charges incurred during the three months ended December 31, 2017 and 2016 and nine months ended December 31, 2016. The restructuring program is complete and no additional costs are expected to be incurred. There were other costs in the prior year, which are now recorded as part of discontinued operations. Restructuring charges are as follows (in thousands):



	Severance/ Retention		Asset Write- down		Other (a)		Total
Nine Months Ended December 31, 2017
Cost of revenues	$	—	$	69	$	163	$	232
Selling, general and administrative	—		—		—		—
Total	$	—	$	69	$	163	$	232

Inception to Date Restructuring Charges
Cost of revenues	$	291	$	69	$	496	$	856
Selling, general and administrative	—		—		—		—
Total	$	291	$	69	$	496	$	856


(a)	Other consisted of moving costs related to relocation of manufacturing activities, consulting fees for production and efficiency support, recruiting fees to increase staff in locations where production is being relocated and duplicate and inefficient labor incurred during the transition and relocation. The charges were expensed as incurred.

Accounting Policies

We have consistently applied the accounting policies described in our Annual Report in preparing these condensed consolidated financial statements. We have not made any changes in significant accounting policies disclosed in the Annual Report.

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 has been subsequently amended with additional ASUs including ASU No. 2016-12, issued in May 2016, and ASU No. 2016-20, issued in December 2016. 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. Most of our revenues are derived from purchase order arrangements, which we do not expect to experience any major changes as a result of this adoption; however, there are additional revenue arrangements (or contracts) that we are continuing to evaluate in the context of the new revenue recognition standard. Based on our preliminary review of contracts, we do not believe the adoption of the new standard will have a material impact. We will adopt the standard for our annual reporting period beginning April 1, 2018, and interim periods within this annual reporting period, using the modified retrospective approach.

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 August 2016, the FASB issued ASU No. 2016-15, "Statement of Cash Flows (Topic 230) – Classification of Certain Cash Receipts and Cash Payments," which clarifies how entities should classify certain cash receipts and cash payments on the statement of cash flows and how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. The new guidance should be applied on a retrospective basis for each period presented. ASU 2016-15 is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted. We do not expect the adoption of ASU No. 2016-15 to have a material impact on our consolidated financial condition and results of operations.

In October 2016, the FASB issued ASU No. 2016-16, "Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory," to improve the accounting for the income tax consequences arising from these types of transfers. This ASU aligns the recognition of the income tax consequences with International Financial Reporting Standards. Specifically, International Accounting Standards No. 12, "Income Taxes," requires recognition of current and deferred income taxes resulting from an intra-entity transfer of any asset (including inventory) when the transfer occurs. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted. We do not expect the adoption of ASU No. 2016-16 to have a material impact on our consolidated financial condition and results of operations.

In November 2016, the FASB issued ASU No. 2016-18, "Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force)," which requires that amounts generally described as restricted cash and restricted cash equivalents be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted. The adoption of ASU No. 2016-18 will not have an impact on our consolidated financial condition and results of operations.

In January 2017, the FASB issued ASU No. 2017-01, "Business Combinations (Topic 805): Clarifying the Definition of a Business," to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments in this ASU require that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set of assets is not a business. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2017. The amendments in this update should be applied prospectively on or after the effective date, however early adoption is permitted. We do not expect the adoption of ASU No. 2017-01 to have a material impact on our consolidated financial condition and results of operations.

In January 2017, the FASB issued ASU No. 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment," which modifies the concept of impairment from the condition that exists when the carrying amount of goodwill exceeds its implied fair value to the condition that exists when the carrying amount of a reporting unit exceeds its fair value. An entity no longer will determine goodwill impairment by calculating the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination. The amendments in this ASU should be adopted for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The adoption of ASU No. 2017-04 will only impact our consolidated financial condition and results of operations to the extent that we incur a future goodwill impairment.

In March 2017, the FASB issued ASU No. 2017-07, "Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost," which requires that an employer disaggregate the service cost component from the other components of net benefit cost. The amendments also provide explicit guidance on how to present the service cost component and the other components of net benefit cost in the statement of operations and allow only the service cost component of net benefit cost to be eligible for capitalization. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2017. The amendments in this ASU should be applied retrospectively on or after the effective date, however early adoption is permitted as of the beginning of an annual period for which financial statements (interim or annual) have not been issued or made available for issuance. Together with our actuaries, we are currently evaluating the impact of ASU No. 2017-07 on our consolidated financial condition and results of operations.

In August 2017, the FASB issued ASU No. 2017-12, "Derivatives and Hedging (Topic 815): Targeted improvements of Accounting for Hedging Activities." The purpose of this ASU is to better align a company's risk management activities and financial reporting for hedging relationships. Additionally, the ASU simplifies the hedge accounting requirements and improve the disclosures of hedging arrangements. This ASU is effective for annual periods, including interim periods within those annual periods, including interim periods within those annual periods, beginning after December 15, 2018. We are currently evaluating the impact of ASU 2017-12 on our consolidated financial condition and results of operations.

On December 22, 2017, the President of the U.S. signed new tax legislation, commonly referred to as the Tax Cuts and Jobs Act (the "Act"). The Act significantly changes U.S. income tax law, including reduction of the corporate income tax rate to 21%, creation of a territorial tax system (with a one-time mandatory tax on previously deferred foreign earnings), broadening of the tax base and allowing for immediate capital expensing of certain qualified property. It also requires companies to pay minimum taxes on foreign earnings and subjects certain payments from corporations to foreign related parties to additional taxes. ASC 740, “Accounting for Income Taxes,” requires companies to recognize the effect of tax law changes in the period of enactment even though the effective date for most provisions is for tax years beginning after December 31, 2017, or in the case of certain other provisions, January 1, 2018. Though certain key aspects of the new law are effective January 1, 2018 and have an immediate accounting effect, other significant provisions are not effective or may not result in accounting effects for March 31 fiscal year companies until April 1, 2018. The Securities and Exchange Commission (“SEC”) staff issued Staff Accounting Bulletin (“SAB”) 118 to provide guidance for companies that are not able to complete their accounting for the income tax effects of the Act in the period of enactment. Under SAB 118, if a company does not have the necessary information to determine a reasonable estimate to include as a provisional amount, the SEC staff said that it would not expect a company to record provisional amounts in its financial statements for the income tax effects for which a reasonable estimate cannot be determined. In these cases, the SEC staff said a company should continue to apply ASC 740 (e.g., when recognizing and measuring current and deferred taxes) based on the provisions of the tax laws that were in effect immediately prior to the Act being enacted. Companies with fiscal years that end on a date other than December 31 will need to use a blended tax rate because the new rate is administratively effective at the beginning of their fiscal year. We have adopted the provisions of the Act, as it is applicable, in the quarter ended December 31, 2018. There were no areas of the Act where we were unable to determine a reasonable estimate. The impact of the Act is disclosed in Note 15.

ACQUISITION	9 Months Ended
ACQUISITION	Dec. 31, 2017
Business Combinations [Abstract]
ACQUISITION	ACQUISITION Greco Aluminum Railings On February 28, 2017, we acquired the equity of Greco Aluminum Railings (“Greco”), based in Windsor, Ontario, Canada, for $28.2 million, net of cash acquired, funded through our Revolving Credit Facility. Greco is a leading manufacturer of high-quality engineered railing and safety systems for multi-family and commercial structures in the U.S. and Canada. The excess of the purchase price over the fair value of the identifiable assets acquired was $13.8 million allocated to goodwill. During the three months ended December 31, 2017, an immaterial purchase price allocation adjustment of $0.2 million was recorded increasing the amount reported for goodwill from $13.6 million to $13.8 million. Goodwill represents the value expected to be obtained from a more extensive portfolio of architecturally-specified building products, which help make buildings safer and more aesthetically pleasing, while enabling compliance with building codes and leveraging our larger distributor network. The allocation of the fair value of the net assets acquired included customer lists, trademarks, non-compete agreements and a favorable leasehold of $10.3 million, $1.0 million, $0.8 million and $0.1 million, respectively, as well as property, plant and equipment and inventory of $0.8 million and $0.5 million, respectively, net of a deferred tax liability of $3.4 million. Customer lists, the non-compete agreement and the favorable leasehold are being amortized over 15 years, five years and approximately nine years (remaining life of the leasehold), respectively, while trademarks and goodwill are not being amortized. Greco activity has been included in our Industrial Products segment since the acquisition date. Greco contributed $1.2 million and $0.2 million in net sales and operating income, respectively, for the fiscal year ended March 31, 2017, $4.3 million and $0.5 million in net sales and operating income, respectively, for the quarter ended December 31, 2017, and $14.4 million and $3.0 million in net sales and operating income, respectively for the nine months ended December 31, 2017. No pro forma information has been provided due to immateriality.

DISCONTINUED OPERATIONS

9 Months Ended

Dec. 31, 2017

Discontinued Operations and Disposal Groups [Abstract]

DISCONTINUED OPERATIONS

During the third quarter of fiscal year 2018, we commenced a sale process to divest our Coatings business to allow us to focus resources on our core growth platforms. Our Coatings business manufactures specialized industrial coating products including urethanes, epoxies, acrylics and alkyds. As of December 31, 2017, the Coatings business met the held-for-sale criteria under the requirements of ASC 360. Accordingly, as of December 31, 2017, we have classified and accounted for the assets and liabilities of the Coatings business as held-for-sale in the accompanying condensed consolidated balance sheets and as discontinued operations, net of tax in the accompanying condensed consolidated statements of operations and cash flows. We believed that the fair value of the business was less than carrying value at December 31, 2017, resulting in an estimated $46.0 million impairment charge. We completed an initial assessment of the assets and liabilities of the Coatings business and recorded the impairment based on our best estimates at the date these financial statements are available to be issued.

Summarized selected financial information for the Coatings business for the three and nine months ended December 31, 2017 and 2016, is presented in the following table:



	Three Months Ended December 31,						Nine Months Ended December 31,
	2017			2016			2017			2016
Revenues, net	$	4,616		$	10,239		$	19,289		$	28,700
Impairment expense	46,007			—			46,007			2,800
Loss from discontinued operations before income taxes	(52,029		)	(1,750		)	(57,685		)	(8,959		)
Income tax benefit	15,357			296			17,392			2,825
Loss from discontinued operations, net	$	(36,672	)	$	(1,454	)	$	(40,293	)	$	(6,134	)

The assets and liabilities of discontinued operations are stated separately as of December 31, 2017 and March 31, 2017, in the condensed consolidated balance sheets and are comprised of the following items:



	December 31, 2017		March 31, 2017
Assets
Accounts receivable, net	$	2,808	$	3,951
Inventories, net	—		6,736
Prepaid expenses and other current assets (1)	215		4,094
Total current assets	$	3,023	$	14,781
Property, plant and equipment, net	—		7,085
Intangibles assets, net	—		31,298
Deferred tax assets (1)	—		426
Total non-current assets	—		38,809
Total assets	$	3,023	$	53,590

Liabilities
Accounts payable, accrued and other expenses	$	3,613	$	5,184

(1) The assets and liabilities of the Coatings business reside in a disregarded entity for tax purposes. Accordingly, the tax attributes associated with the operations of our Coatings business will ultimately flow through to the corporate parent, which files a consolidated federal return. Therefore, the operating losses and impairment losses attributable to the Coatings business and any corresponding deferred tax assets or liabilities are expected to be substantially realized by the corporate parent. These amounts have therefore been reflected as assets of our continuing operations and have not been allocated or attributed to the balances of assets or liabilities disclosed above. We continue to evaluate the ultimate realizability of all deferred tax assets, and the specific realization of tax assets pertaining to the Coatings business to be disposed could be impacted by the structure of a future sale transaction or other factors impacting or related to the actual disposition of the Coatings business in future periods. We will continue to evaluate any potential tax consequences of a potential sale transaction and will disclose or record any corresponding impacts in the period in which the impact can be quantified reliably.

The net assets of the Coatings business held-for-sale as of December 31, 2017 are comprised substantially of accounts receivable. The remaining long-lived assets have been written down to their estimated fair values, as described in Note 12.

INVENTORIES

9 Months Ended

Dec. 31, 2017

Inventory Disclosure [Abstract]

INVENTORIES

Inventories consist of the following (in thousands):



	December 31, 2017			March 31, 2017
Raw materials and supplies	$	22,329		$	18,960
Work in process	3,986			6,271
Finished goods	26,112			25,535
Total inventories	52,427			50,766
Less: LIFO reserve	(5,295		)	(5,295		)
Less: Obsolescence reserve	(1,645		)	(1,806		)
Inventories, net	$	45,487		$	43,665

INTANGIBLE ASSETS

9 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLE ASSETS

The following table provides information about our intangible assets (in thousands, except years):



		December 31, 2017					March 31, 2017
	Wtd Avg Life	Gross Amount		Accumulated Amortization			Gross Amount		Accumulated Amortization
	(Years)
Finite-lived intangible assets:
Patents	12	$	9,636	$	(5,459	)	$	9,576	$	(4,779	)
Customer lists and amortized trademarks	12	58,168		(23,478		)	57,421		(19,523		)
Non-compete agreements	5	1,731		(681		)	1,469		(194		)
Other	12	5,019		(1,347		)	4,849		(828		)
		$	74,554	$	(30,965	)	$	73,315	$	(25,324	)
Trade names and trademarks not being amortized		$	11,358	$	—		$	11,321	$	—

Amortization expense for the three and nine months ended December 31, 2017, was $1.4 million and $4.1 million, respectively. Amortization expense for the three and nine months ended December 31, 2016 was $1.1 million and $3.2 million, respectively. The following table shows the estimated future amortization for intangible assets as of December 31, 2017, for the remainder of the current fiscal year and the next five years ending March 31 (in thousands):



2018	$	1,222
2019	4,434
2020	4,191
2021	3,968
2022	3,519
2023	3,276

SPIN-OFF EXECUTIVE COMPENSATION	9 Months Ended
SPIN-OFF EXECUTIVE COMPENSATION	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
SPIN-OFF EXECUTIVE COMPENSATION	SPIN-OFF EXECUTIVE COMPENSATION Refer to Note 4 of our consolidated financial statements included in our Annual Report for a description of the Spin-Off Executive Compensation Plan. During the three and nine months ended December 31, 2017, we recorded executive compensation expense for the cash incentive payments for Mr. Armes of $0.2 million and $0.5 million, respectively, and stock compensation expense for Mr. Armes of $0.1 million and $0.3 million, respectively. During the three and nine months ended December 31, 2016, we recorded total executive compensation expense for the cash incentive payments of $0.2 million and $1.7 million for Mr. Armes and Ms. Tacke, respectively, and total stock compensation expense of $0.1 million and $0.9 million, respectively. Within those amounts, for the nine months ended December 31, 2016, were $1.2 million and $1.0 million of cash incentive and stock compensation expense, respectively, that were accelerated as a result of Ms. Tacke's transition from the Company in June 2016. As of December 31, 2017, all awards under the Spin-Off Executive Compensation Plan are fully vested.

SHARE-BASED COMPENSATION

9 Months Ended

Dec. 31, 2017

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

SHARE-BASED COMPENSATION

In September 2015, CSWI adopted and Capital Southwest approved (as our sole stockholder at the time) our 2015 Equity and Incentive Compensation Plan (the “2015 Plan”), which provides for the issuance of up to 1,230,000 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 of December 31, 2017, 907,208 shares were available for issuance under the 2015 Plan. In September 2015, in connection with the Spin-Off Executive Compensation Plan and Share Distribution, we issued 510,447 shares of common stock to adjust outstanding Capital Southwest equity-based awards to represent both Capital Southwest and CSWI equity-based awards. These conversion grants were issued on substantially the same terms and conditions as the prior Capital Southwest equity-based grants, and they were issued separate and apart from the 2015 Plan's 1,230,000 share authorization.

We recorded share-based compensation as follows for the three and nine-month periods ended December 31, 2017 and 2016 (in thousands):



	Three Months Ended December 31, 2017
	Stock Options			Restricted Shares			Total
Share-based compensation expense	$	54		$	1,067		$	1,121
Related income tax benefit	(16		)	(375		)	(391		)
Net share-based compensation expense	$	38		$	692		$	730



	Three Months Ended December 31, 2016
	Stock Options			Restricted Shares			Total
Share-based compensation expense	$	54		$	624		$	678
Related income tax benefit	(19		)	(218		)	(237		)
Net share-based compensation expense	$	35		$	406		$	441



	Nine Months Ended December 31, 2017
	Stock Options			Restricted Shares			Total
Share-based compensation expense	$	162		$	2,651		$	2,813
Related income tax benefit	(49		)	(937		)	(986		)
Net share-based compensation expense	$	113		$	1,714		$	1,827



	Nine Months Ended December 31, 2016
	Stock Options			Restricted Shares			Total
Share-based compensation expense	$	419		$	1,723		$	2,142
Related income tax benefit	(147		)	(603		)	(750		)
Net share-based compensation expense	$	272		$	1,120		$	1,392

Stock option activity was as follows:



	Nine Months Ended December 31, 2017
	Number of Shares		Weighted Average Exercise Price		Remaining Contractual Life	Aggregate Intrinsic Value
					(Years)	(in millions)
Outstanding at April 1, 2017	251,635		$	24.44
Granted	—		—
Exercised	(19,918	)	16.51
Canceled	—		—
Outstanding at December 31, 2017	231,717		$	25.12	6.5	$4.8
Exercisable at December 31, 2017	213,791		$	25.17	6.5	$4.4

At December 31, 2017, we had an immaterial amount of unrecognized compensation cost related to non-vested stock options, which will be amortized into net income over the remaining weighted average vesting period of less than one year. No options were granted during the three and nine-month period ended December 31, 2017. The total fair value of shares vested during the three and nine month period ended December 31, 2017 was $0.1 million and $0.2 million, respectively. There were no options exercised during the three months ended December 31, 2017. The total fair value of shares exercised under option awards for the nine months ended December 31, 2017 was $0.3 million. No options were granted during the three or nine months ended December 31, 2016. The intrinsic value of options exercised during the three and nine months ended December 31, 2016 was $2.2 million, and the tax benefit received was $0.1 million. The total fair value of stock options vested during the three and nine months ended December 31, 2016 was $0.3 million and $0.7 million, respectively.

Restricted share activity was as follows:



	Nine Months Ended December 31, 2017
	Number of Shares		Weighted Average Grant Date Fair Value
Outstanding at April 1, 2017	209,491		$	26.53
Granted	121,902		46.23
Vested	(79,107	)	22.77
Canceled	(4,415	)	33.26
Outstanding at December 31, 2017	247,871		$	37.30

During the restriction period, the holders of restricted shares are entitled to vote and, except for conversion awards issued under the Spin-Off Executive Compensation Plan (as discussed in Note 6), receive dividends. At December 31, 2017, we had unrecognized compensation cost related to unvested restricted shares of $7.0 million, which will be amortized into net income over the remaining weighted average vesting period of approximately 2.1 years. The total fair value of restricted shares granted during the three and nine months ended December 31, 2017 was $3.4 million and $5.6 million, respectively. The total fair value of restricted shares vested during the three and nine month periods ended December 31, 2017 was $3.5 million. The total fair value of restricted shares granted during the three and nine months ended December 31, 2016 was $2.7 million and $4.1 million, respectively. The total fair value of restricted shares vested during the three and nine month periods ended December 31, 2016 was $1.3 million and $1.8 million, respectively.

Performance-based restricted shares and units granted during the three and nine months ended December 31, 2017 and 2016 includes 44,113 units and 49,373 shares (at target), respectively, with performance-based vesting provisions, and vesting ranges from 0%-200% and 0%-100%, respectively, based on pre-defined performance targets with market conditions. Performance-based units do not have the rights to vote or receive cash dividends until vesting. Performance-based restricted shares and units are earned upon the achievement of performance targets, and are payable in common shares. Compensation expense is recognized over a 36-month cliff vesting period based on the fair market value as determined by a Monte Carlo simulation.

LONG-TERM DEBT

9 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

LONG-TERM DEBT

Debt consists of the following (in thousands):



	December 31, 2017			March 31, 2017
Revolving Credit Facility, interest rate of 2.82% and 2.23%, respectively	$	28,000		$	60,625
Whitmore term loan, interest rate of 3.57% and 2.98%, respectively	12,161			12,582
Total debt	40,161			73,207
Less: Current portion	(561		)	(561		)
Long-term debt	$	39,600		$	72,646

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, and the other lenders party thereto. The agreement was amended on September 15, 2017 to allow for multi-currency borrowing with a $125.0 million sublimit. Borrowings under this facility bear interest at a rate of prime plus 0.50% or London Interbank Offered Rate (“LIBOR”) plus 1.50%, which may be adjusted based on our leverage ratio. We pay a commitment fee of 0.15% 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, September 15, 2022, from December 11, 2020, as amended. The Revolving Credit Facility is secured by substantially all of our assets. During the nine months ended December 31, 2017 we repaid $32.6 million of the outstanding borrowings under this facility, and as of December 31, 2017 and March 31, 2017, we had a remaining outstanding balance of $28.0 million and $60.6 million, respectively, which resulted in borrowing capacity of $272.0 million and $239.4 million, respectively, inclusive of the accordion feature. The Revolving Credit Facility contains certain customary restrictive covenants, including a requirement to maintain a minimum fixed charge coverage ratio of 1.25 to 1.00 and a maximum leverage ratio of Funded Debt to EBITDA (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 December 31, 2017.

Whitmore Term Loan

As of December 31, 2017, Whitmore Manufacturing (one of our wholly-owned operating subsidiaries) had a secured term loan outstanding related to a 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, with payments of $140,000 due each quarter. Borrowings under this term loan bear interest at a variable annual rate equal to one month LIBOR plus 2.0%. As of December 31, 2017 and March 31, 2017, Whitmore had $12.2 million and $12.6 million, respectively, in outstanding borrowings under the term loan.

DERIVATIVE INSTRUMENTS AND HEDGE ACCOUNTING

9 Months Ended

Dec. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

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 December 31, 2017 and March 31, 2017, we had $40.2 million and $43.2 million, respectively, of notional amount in outstanding designated interest rate swaps with third parties. All interest rate swaps are highly effective. At December 31, 2017, the maximum remaining length of any interest rate swap contract in place was approximately 11.6 years. The fair value of interest rate swaps designated as hedging instruments are summarized below (in thousands):



	December 31, 2017		March 31, 2017
Current derivative assets	$	57	$	—
Current derivative liabilities	134		199
Non-current derivative liabilities	431		420

The impact of changes in fair value of interest rate swaps is included in Note 16.

On June 17, 2016, we entered into a foreign exchange forward contract, not designated as a hedging instrument, to hedge our exposure associated with assets denominated in British pounds. The forward contract was settled on September 29, 2016 resulting in a net gain of $0.2 million, which was included in other income (expense), net on our condensed consolidated statements of operations for the fiscal year ended March 31, 2017.

Current derivative assets are reported in our condensed consolidated balance sheets in prepaid expenses and other current assets. Current and non-current derivative liabilities are reported in our condensed consolidated balance sheets in accrued and other current liabilities and other long-term liabilities, respectively.

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 and expect all counterparties to meet their obligations. We have not experienced credit losses from our counterparties.

EARNINGS PER SHARE

9 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

EARNINGS PER SHARE

The following table sets forth the reconciliation of the numerator and the denominator of basic and diluted earnings per share for the three and nine months ended December 31, 2017 and 2016 (amounts in thousands, except per share data):



	Three Months Ended December 31,						Nine Months Ended December 31,
	2017			2016			2017			2016
Income from continuing operations	$	2,635		$	1,859		$	22,072		$	14,477
Loss from discontinued operations	(36,672		)	(1,454		)	(40,293		)	(6,134		)
Net (loss) income	$	(34,037	)	$	405		$	(18,221	)	$	8,343

Weighted average shares:
Common stock	15,694			15,586			15,659			15,529
Participating securities	—			246			—			219
Denominator for basic earnings per common share	15,694			15,832			15,659			15,748
Potentially dilutive securities	—			62			—			64
Denominator for diluted earnings per common share	15,694			15,894			15,659			15,812

Basic earnings (loss) per common share:
Continuing operations	$	0.17		$	0.12		$	1.41		$	0.92
Discontinued operations	(2.34		)	(0.09		)	(2.57		)	(0.39		)
Net (loss) income	$	(2.17	)	$	0.03		$	(1.16	)	$	0.53

Diluted earnings (loss) per common share:
Continuing operations	$	0.17		$	0.12		$	1.41		$	0.92
Discontinued operations	(2.34		)	(0.09		)	(2.57		)	(0.39		)
Net (loss) income	$	(2.17	)	$	0.03		$	(1.16	)	$	0.53

Diluted earnings per share above is based upon the weighted average number of shares as determined for basic earnings per share plus shares potentially issuable in conjunction with stock options and Restricted Shares. As a result of the net loss for the three and nine month periods ended December 31, 2017, we excluded 339 and 310, respectively of unvested Restricted Shares from the calculation of diluted EPS due to their anti-dilutive effect.

SHAREHOLDERS' EQUITY	9 Months Ended
SHAREHOLDERS' EQUITY	Dec. 31, 2017
Equity [Abstract]
SHAREHOLDERS' EQUITY	SHAREHOLDERS' EQUITY On November 11, 2016, we announced that our Board of Directors authorized a program to repurchase up to $35.0 million of our common stock over the next two years. These shares may be repurchased in the open market or in privately negotiated transactions. Repurchases will be made from time to time at our discretion, based on ongoing assessments of the capital needs of the business, the market price of our common stock and general market conditions. The program may be limited or terminated at any time at our discretion without notice. As of December 31, 2017, 1,221 shares have been repurchased for an aggregate of $0.1 million.

FAIR VALUE MEASUREMENTS

9 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

The fair value of interest rate swaps and foreign exchange forward contracts (as discussed in Note 9) are determined using Level 2 inputs. The carrying value of our debt (discussed in Note 8) approximates fair value as it bears interest at floating rates. The carrying amounts of other financial instruments (i.e., cash and cash equivalents, bank time deposits, accounts receivable, net, accounts payable) approximated their fair values at December 31, 2017 and March 31, 2017 due to their short-term nature.

The fair values of acquisition-related contingent payments were estimated using Level 3 inputs. The contingent payment related to the acquisition of assets from SureSeal Manufacturing (“SureSeal”) utilizing the weighted average probability method using forecasted sales and gross margin. On August 3, 2017, we entered into an agreement with the sellers of the SureSeal product line assets that, among other things, amended the purchase agreement to eliminate the potential contingent payment in exchange for a cash payment substantially equivalent to what was accrued. The contingent payment was settled during the quarter ended September 30, 2017 with a change in estimate of $0.1 million as noted in the table below.

The following table sets forth the change in fair value and the related settlement of the contingent fee recognized within the selling, general and administrative expenses of our condensed consolidated statements of operations (in thousands):



	Nine Months Ended December 31, 2017
	SureSeal
Balance at April 1, 2017	$	6,390
Change in estimate	110
Payment of contingent fee	(6,500		)
Balance at December 31, 2017	$	—

The assets of the Coatings business have been written down to their estimated fair values as a result of the plan to sell the Coatings business as of December 31, 2017. The determination of fair value of long-lived assets is a non-recurring fair value estimate which relies heavily upon the use of Level 3 inputs. Our estimate of fair value was based on both (i) an income approach, which forecasted the future cash flows which could be generated by the underlying assets, and (ii) an estimated recovery value based upon sale of the assets in their current condition.

Our Coatings business experienced a rapid decline in operating revenues and corresponding cash flows during the third fiscal quarter, and these declines are expected to persist for the foreseeable future absent a significant investment. As a result of this rapid decline, we intend to sell the Coatings business to allow us to direct our resources to our other businesses that meet our profitability standards. However, due to the recent challenges associated with our Coatings business and their recent poor financial performance, we have concluded that a material impairment of the assets attributable to the Coatings business was necessary to state the assets at their fair value as of December 31, 2017.

The following table represents the placement in the fair value hierarchy of assets that were measured at fair value on a non-recurring basis as a result of classifying the Coatings business as held-for-sale as of December 31, 2017. Refer to Note 3 for further discussion.



	Carrying Values before Impairment		Estimated Fair Value		Level 1		Level 2		Level 3

Intangible assets	$	30,073	$	—	$	—	$	—	$	—
Property, plant and equipment	8,064		—		—		—		—
Inventory	6,409		—		—		—		—
Prepaid expenses and other current assets	426		215		—		—		215

- 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

9 Months Ended

Dec. 31, 2017

Retirement Benefits [Abstract]

RETIREMENT PLANS

Refer to Note 12 to our consolidated financial statements included in our Annual Report for a description of our retirement and post-retirement benefits.

The following tables set forth the combined net pension benefit recognized in our condensed consolidated financial statements for all plans (in thousands):



	Three Months Ended December 31,
	2017			2016
Service cost, benefits earned during the period	$	14		$	—
Interest cost on projected benefit obligation	628			616
Expected return on assets	(980		)	(902		)
Amortization of net actuarial loss	7			—
Net pension benefit	$	(331	)	$	(286	)



	Nine Months Ended December 31,
	2017			2016
Service cost, benefits earned during the period	$	41		$	—
Interest cost on projected benefit obligation	1,883			1,850
Expected return on assets	(2,941		)	(2,706		)
Amortization of net actuarial loss	21			—
Net pension benefit	$	(996	)	$	(856	)

CONTINGENCIES	9 Months Ended
CONTINGENCIES	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIES From time to time, we are involved in various claims and legal actions that 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.

INCOME TAXES	9 Months Ended
INCOME TAXES	Dec. 31, 2017
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Amounts recorded where accounting is complete in the three months ended December 31, 2017 principally relate to the reduction in the U.S. corporate income tax rate to 21%, which resulted in us reporting an income tax benefit of $0.4 million to remeasure deferred taxes assets and liabilities that will reverse at the new 21% rate. We also recognized an income tax benefit of $0.3 million due to the rate change on current year temporary differences, for a total benefit of $0.7 million as a result of the federal rate change to 21%. The new law includes transition tax and one-time mandatory repatriation of cash and net accumulated earnings and profits of a U.S. taxpayer’s foreign subsidiaries. We have reasonably estimated our foreign earnings and profits, and as a result, we reported a tax expense of $4.9 million, net of a $1.0 million foreign tax credit, which increased the effective tax rate for the quarter by 63.3%. We will continue to measure the impact, record any changes in subsequent quarters as we further refine our calculation of earnings, profits and foreign tax pools of our controlled foreign corporations and as additional guidance becomes available. We are still determining the timing or period over which the tax repatriation obligation will be paid. The amount has been recorded as income tax payable. Other law changes implemented by the Act, such as the repeal of the Section 199 manufacturing deduction, changes to the calculation for Section 162(m) executive compensation deduction, interest deduction limitation and Global Intangible Low Taxed Income ("GILTI"), and others will not have any impact on us until the fiscal year ending March 31, 2019. We will continue to monitor guidance regarding these changes for how it will impact the financial statements in later periods. For the three months ended December 31, 2017, we earned $7.8 million from continuing operations before taxes and provided for income taxes of $5.1 million, resulting in an effective tax rate of 66.1%. For the three months ended December 31, 2016, we earned $5.0 million from continuing operations before taxes and provided for income taxes of $3.2 million, resulting in an effective tax rate of 63.3%. The provision for income taxes for the three months ended December 31, 2017 was impacted by one-time transition tax on mandatory repatriation based on cash and net accumulated earnings and profits of our foreign subsidiaries, which increased the effective tax rate by 63.3%. This tax expense was offset by a tax benefit of $0.7 million due to the reduction in federal statutory rate from 35% to 21%, as well as a $0.9 million tax benefit related to adjustments identified during the preparation of our federal tax return. The provision for income taxes for the three months ended December 31, 2016 was impacted by $1.0 million primarily relating to adjustments identified during the preparation of our federal tax return, which increased our anticipated effective rate by 18.9%. The provision for income taxes from continuing operations for the nine months ended December 31, 2017 was $16.2 million, resulting in an effective tax rate of 42.4%, as compared with the provision of $12.0 million, resulting in an effective tax rate of 45.2%, for the nine months ended December 31, 2016. The provision for income taxes for the nine months ended December 31, 2017 was impacted by an increase in tax expense related to the one-time transition tax for mandatory repatriation based on cash and net accumulated earnings and profits of our foreign subsidiaries, which increased the effective tax rate by 12.8%. The provision for income taxes for the nine months ended December 31, 2016 was impacted by $1.9 million primarily relating to reserves for uncertain tax positions and the effect of changes in tax rates, which increased our anticipated effective tax rate by 7.0%.

OTHER COMPREHENSIVE INCOME (LOSS)

9 Months Ended

Dec. 31, 2017

Equity [Abstract]

OTHER COMPREHENSIVE INCOME (LOSS)

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



	Three Months Ended December 31,
	2017			2016
Currency translation adjustments:
Balance at beginning of period	$	(4,495	)	$	(7,180	)
Adjustments for foreign currency translation	(134		)	(1,534		)
Balance at end of period	$	(4,629	)	$	(8,714	)
Interest rate swaps:
Balance at beginning of period	$	(436	)	$	(1,288	)
Unrealized gains (losses), net of taxes of $(40) and $(375), respectively (a)	74			696
Reclassification of losses included in interest expense, net of taxes of $(17) and $(45), respectively	32			83
Other comprehensive income	106			779
Balance at end of period	$	(330	)	$	(509	)
Defined benefit plans:
Balance at beginning of period	$	(1,927	)	$	(1,221	)
Amortization of net loss, net of taxes of $(5) and $(1), respectively	9			2
Balance at end of period	$	(1,918	)	$	(1,219	)



	Nine Months Ended December 31,
	2017			2016
Currency translation adjustments:
Balance at beginning of period	$	(8,132	)	$	(5,248	)
Adjustments for foreign currency translation	3,503			(3,466		)
Balance at end of period	$	(4,629	)	$	(8,714	)
Interest rate swaps:
Balance at beginning of period	$	(402	)	$	(1,221	)
Unrealized gains (losses), net of taxes of $23 and $(239), respectively (a)	(43		)	444
Reclassification of losses included in interest expense, net of taxes of $(61) and ($144), respectively	115			268
Other comprehensive loss	72			712
Balance at end of period	$	(330	)	$	(509	)
Defined benefit plans:
Balance at beginning of period	$	(1,901	)	$	(1,229	)
Amortization of net (gain) loss, net of taxes of $9 and $(5), respectively	(17		)	10
Balance at end of period	$	(1,918	)	$	(1,219	)


(a)	Unrealized losses are reclassified to earnings as underlying cash interest payments are made. We expect to recognize a loss of $0.1 million, net of deferred taxes, over the next twelve months related to designated cash flow hedges based on their fair values at December 31, 2017.

SEGMENTS

9 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

SEGMENTS

As noted in Note 1, we historically conducted our operations through three business segments based on type of product and how we managed the business. During the quarter ended December 31, 2017, we realigned our reportable segments as a result of organizational changes to better align its resources to support its ongoing business strategy. We retained our Industrial Products Segment and combined the former Coatings Sealants & Adhesives Segment into the Specialty Chemicals Segment, as the Coatings business, which constitutes substantially all of our Coating business, is held-for-sale and has been classified as discontinued operations:


•	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.


•	Specialty Chemicals is comprised of pipe thread sealants, firestopping sealants and caulks and adhesives/solvent cements, lubricants and greases, drilling compounds, anti-seize compounds, chemical formulations and degreasers and cleaners.

Our corporate headquarters does not constitute a separate segment. We evaluate segment performance and allocate resources based on each reportable segment’s operating income. 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 corporate and other functions. No individual customer accounted for more than 10% of consolidated net revenues. Currently, we do not allocate interest expense, net or other income (expense), net by segment.

Three Months Ended December 31, 2017:



(in thousands)	Industrial Products		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other			Total
Revenues, net	$	37,906	$	31,129	$	69,035	$	1		$	69,036
Operating income	7,299		4,048		11,347		(3,068		)	8,279

Three Months Ended December 31, 2016:



(in thousands)	Industrial Products		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other			Total
Revenues, net	$	31,715	$	33,498	$	65,213	$	44		$	65,257
Operating income	3,978		3,099		7,077		(1,951		)	5,126

Nine Months Ended December 31, 2017:



(in thousands)	Industrial Products		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other			Total
Revenues, net	$	139,654	$	103,101	$	242,755	$	2		$	242,757
Operating income	33,211		15,116		48,327		(8,147		)	40,180

Nine Months Ended December 31, 2016:



(in thousands)	Industrial Products		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other			Total
Revenues, net	$	117,048	$	93,898	$	210,946	$	89		$	211,035
Operating income	24,482		12,709		37,191		(10,462		)	26,729

ORGANIZATION AND OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES (Policies)	9 Months Ended
	Dec. 31, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements included in this Quarterly Report on Form 10-Q for the quarterly period ended December 31, 2017 (“Quarterly Report”) includes all revenues, costs, assets and liabilities directly attributable to CSWI and have been prepared in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”). The condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary to present a fair statement of CSWI’s financial position as of December 31, 2017, and the results of operations for the three and nine month periods ended December 31, 2017 and 2016. All adjustments are of a normal, recurring nature. All significant intercompany balances and transactions have been eliminated in consolidation. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes thereto included in CSWI’s Annual Report on Form 10-K for the fiscal year ended March 31, 2017 (the “Annual Report”).
Discontinued Operations and Segment Realignment	Discontinued Operations and Segment Realignment During the third quarter of fiscal year 2018, we committed to a plan to sell our Strathmore Products business (the "Coatings business"). This determination resulted in the reclassification of the assets comprising that business to assets held-for-sale, and a corresponding adjustment to our condensed consolidated statements of operations to reflect discontinued operations for all periods presented. Additionally, as a result of our determination to sell the Coatings business, we have realigned our reportable segments to better align our resources to support our ongoing business strategy. We retained our Industrial Products Segment and combined the remaining business lines of our historical Coatings, Sealants & Adhesives Segment into our Specialty Chemicals Segment. The reportable segment realignment is consistent with the manner in which we evaluate performance and make resource allocation decisions, subsequent to the decision to sell the Coatings business. Historical segment information has been retrospectively adjusted to reflect the effect of this change. Our segment information is more fully disclosed in Note 17. Historical information also reflects discontinued operations presentation for the portion of our business meeting the held-for-sale criteria as described in Note 3.
Accounting Policies	Accounting Policies We have consistently applied the accounting policies described in our Annual Report in preparing these condensed consolidated financial statements. We have not made any changes in significant accounting policies disclosed in the Annual Report.
Accounting Developments	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 has been subsequently amended with additional ASUs including ASU No. 2016-12, issued in May 2016, and ASU No. 2016-20, issued in December 2016. 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. Most of our revenues are derived from purchase order arrangements, which we do not expect to experience any major changes as a result of this adoption; however, there are additional revenue arrangements (or contracts) that we are continuing to evaluate in the context of the new revenue recognition standard. Based on our preliminary review of contracts, we do not believe the adoption of the new standard will have a material impact. We will adopt the standard for our annual reporting period beginning April 1, 2018, and interim periods within this annual reporting period, using the modified retrospective approach. 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 August 2016, the FASB issued ASU No. 2016-15, "Statement of Cash Flows (Topic 230) – Classification of Certain Cash Receipts and Cash Payments," which clarifies how entities should classify certain cash receipts and cash payments on the statement of cash flows and how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. The new guidance should be applied on a retrospective basis for each period presented. ASU 2016-15 is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted. We do not expect the adoption of ASU No. 2016-15 to have a material impact on our consolidated financial condition and results of operations. In October 2016, the FASB issued ASU No. 2016-16, "Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory," to improve the accounting for the income tax consequences arising from these types of transfers. This ASU aligns the recognition of the income tax consequences with International Financial Reporting Standards. Specifically, International Accounting Standards No. 12, "Income Taxes," requires recognition of current and deferred income taxes resulting from an intra-entity transfer of any asset (including inventory) when the transfer occurs. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted. We do not expect the adoption of ASU No. 2016-16 to have a material impact on our consolidated financial condition and results of operations. In November 2016, the FASB issued ASU No. 2016-18, "Statement of Cash Flows (Topic 230): Restricted Cash (a consensus of the FASB Emerging Issues Task Force)," which requires that amounts generally described as restricted cash and restricted cash equivalents be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2017. Early adoption is permitted. The adoption of ASU No. 2016-18 will not have an impact on our consolidated financial condition and results of operations. In January 2017, the FASB issued ASU No. 2017-01, "Business Combinations (Topic 805): Clarifying the Definition of a Business," to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments in this ASU require that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set of assets is not a business. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2017. The amendments in this update should be applied prospectively on or after the effective date, however early adoption is permitted. We do not expect the adoption of ASU No. 2017-01 to have a material impact on our consolidated financial condition and results of operations. In January 2017, the FASB issued ASU No. 2017-04, "Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment," which modifies the concept of impairment from the condition that exists when the carrying amount of goodwill exceeds its implied fair value to the condition that exists when the carrying amount of a reporting unit exceeds its fair value. An entity no longer will determine goodwill impairment by calculating the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination. The amendments in this ASU should be adopted for annual or any interim goodwill impairment tests in fiscal years beginning after December 15, 2019. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. The adoption of ASU No. 2017-04 will only impact our consolidated financial condition and results of operations to the extent that we incur a future goodwill impairment. In March 2017, the FASB issued ASU No. 2017-07, "Compensation - Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost," which requires that an employer disaggregate the service cost component from the other components of net benefit cost. The amendments also provide explicit guidance on how to present the service cost component and the other components of net benefit cost in the statement of operations and allow only the service cost component of net benefit cost to be eligible for capitalization. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2017. The amendments in this ASU should be applied retrospectively on or after the effective date, however early adoption is permitted as of the beginning of an annual period for which financial statements (interim or annual) have not been issued or made available for issuance. Together with our actuaries, we are currently evaluating the impact of ASU No. 2017-07 on our consolidated financial condition and results of operations. In August 2017, the FASB issued ASU No. 2017-12, "Derivatives and Hedging (Topic 815): Targeted improvements of Accounting for Hedging Activities." The purpose of this ASU is to better align a company's risk management activities and financial reporting for hedging relationships. Additionally, the ASU simplifies the hedge accounting requirements and improve the disclosures of hedging arrangements. This ASU is effective for annual periods, including interim periods within those annual periods, including interim periods within those annual periods, beginning after December 15, 2018. We are currently evaluating the impact of ASU 2017-12 on our consolidated financial condition and results of operations. On December 22, 2017, the President of the U.S. signed new tax legislation, commonly referred to as the Tax Cuts and Jobs Act (the "Act"). The Act significantly changes U.S. income tax law, including reduction of the corporate income tax rate to 21%, creation of a territorial tax system (with a one-time mandatory tax on previously deferred foreign earnings), broadening of the tax base and allowing for immediate capital expensing of certain qualified property. It also requires companies to pay minimum taxes on foreign earnings and subjects certain payments from corporations to foreign related parties to additional taxes. ASC 740, “Accounting for Income Taxes,” requires companies to recognize the effect of tax law changes in the period of enactment even though the effective date for most provisions is for tax years beginning after December 31, 2017, or in the case of certain other provisions, January 1, 2018. Though certain key aspects of the new law are effective January 1, 2018 and have an immediate accounting effect, other significant provisions are not effective or may not result in accounting effects for March 31 fiscal year companies until April 1, 2018. The Securities and Exchange Commission (“SEC”) staff issued Staff Accounting Bulletin (“SAB”) 118 to provide guidance for companies that are not able to complete their accounting for the income tax effects of the Act in the period of enactment. Under SAB 118, if a company does not have the necessary information to determine a reasonable estimate to include as a provisional amount, the SEC staff said that it would not expect a company to record provisional amounts in its financial statements for the income tax effects for which a reasonable estimate cannot be determined. In these cases, the SEC staff said a company should continue to apply ASC 740 (e.g., when recognizing and measuring current and deferred taxes) based on the provisions of the tax laws that were in effect immediately prior to the Act being enacted. Companies with fiscal years that end on a date other than December 31 will need to use a blended tax rate because the new rate is administratively effective at the beginning of their fiscal year. We have adopted the provisions of the Act, as it is applicable, in the quarter ended December 31, 2018. There were no areas of the Act where we were unable to determine a reasonable estimate. The impact of the Act is disclosed in Note 15.

ORGANIZATION AND OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES (Tables)

9 Months Ended

Dec. 31, 2017

Accounting Policies [Abstract]

Schedule of Restructuring Charges

Restructuring charges are as follows (in thousands):



	Severance/ Retention		Asset Write- down		Other (a)		Total
Nine Months Ended December 31, 2017
Cost of revenues	$	—	$	69	$	163	$	232
Selling, general and administrative	—		—		—		—
Total	$	—	$	69	$	163	$	232

Inception to Date Restructuring Charges
Cost of revenues	$	291	$	69	$	496	$	856
Selling, general and administrative	—		—		—		—
Total	$	291	$	69	$	496	$	856


(a)	Other consisted of moving costs related to relocation of manufacturing activities, consulting fees for production and efficiency support, recruiting fees to increase staff in locations where production is being relocated and duplicate and inefficient labor incurred during the transition and relocation. The charges were expensed as incurred.

DISCONTINUED OPERATIONS (Tables)

9 Months Ended

Dec. 31, 2017

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations



	December 31, 2017		March 31, 2017
Assets
Accounts receivable, net	$	2,808	$	3,951
Inventories, net	—		6,736
Prepaid expenses and other current assets (1)	215		4,094
Total current assets	$	3,023	$	14,781
Property, plant and equipment, net	—		7,085
Intangibles assets, net	—		31,298
Deferred tax assets (1)	—		426
Total non-current assets	—		38,809
Total assets	$	3,023	$	53,590

Liabilities
Accounts payable, accrued and other expenses	$	3,613	$	5,184

Summarized selected financial information for the Coatings business for the three and nine months ended December 31, 2017 and 2016, is presented in the following table:



	Three Months Ended December 31,						Nine Months Ended December 31,
	2017			2016			2017			2016
Revenues, net	$	4,616		$	10,239		$	19,289		$	28,700
Impairment expense	46,007			—			46,007			2,800
Loss from discontinued operations before income taxes	(52,029		)	(1,750		)	(57,685		)	(8,959		)
Income tax benefit	15,357			296			17,392			2,825
Loss from discontinued operations, net	$	(36,672	)	$	(1,454	)	$	(40,293	)	$	(6,134	)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Section 45
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Topic 205
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Topic 205
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Section 50
-Paragraph 7
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=84176398&loc=SL51724579-110230

Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 205
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-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 360
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-URI http://asc.fasb.org/extlink&oid=84176398&loc=d3e2941-110230

Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 205
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760

Reference 13: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760

+ Details

INVENTORIES (Tables)

9 Months Ended

Dec. 31, 2017

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories consist of the following (in thousands):



	December 31, 2017			March 31, 2017
Raw materials and supplies	$	22,329		$	18,960
Work in process	3,986			6,271
Finished goods	26,112			25,535
Total inventories	52,427			50,766
Less: LIFO reserve	(5,295		)	(5,295		)
Less: Obsolescence reserve	(1,645		)	(1,806		)
Inventories, net	$	45,487		$	43,665

INTANGIBLE ASSETS (Tables)

9 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

The following table provides information about our intangible assets (in thousands, except years):



		December 31, 2017					March 31, 2017
	Wtd Avg Life	Gross Amount		Accumulated Amortization			Gross Amount		Accumulated Amortization
	(Years)
Finite-lived intangible assets:
Patents	12	$	9,636	$	(5,459	)	$	9,576	$	(4,779	)
Customer lists and amortized trademarks	12	58,168		(23,478		)	57,421		(19,523		)
Non-compete agreements	5	1,731		(681		)	1,469		(194		)
Other	12	5,019		(1,347		)	4,849		(828		)
		$	74,554	$	(30,965	)	$	73,315	$	(25,324	)
Trade names and trademarks not being amortized		$	11,358	$	—		$	11,321	$	—

Schedule of Estimated Future Amortization for Intangible Assets

The following table shows the estimated future amortization for intangible assets as of December 31, 2017, for the remainder of the current fiscal year and the next five years ending March 31 (in thousands):



2018	$	1,222
2019	4,434
2020	4,191
2021	3,968
2022	3,519
2023	3,276

SHARE-BASED COMPENSATION (Tables)

9 Months Ended

Dec. 31, 2017

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

Schedule of Share-Based Compensation

We recorded share-based compensation as follows for the three and nine-month periods ended December 31, 2017 and 2016 (in thousands):



	Three Months Ended December 31, 2017
	Stock Options			Restricted Shares			Total
Share-based compensation expense	$	54		$	1,067		$	1,121
Related income tax benefit	(16		)	(375		)	(391		)
Net share-based compensation expense	$	38		$	692		$	730



	Three Months Ended December 31, 2016
	Stock Options			Restricted Shares			Total
Share-based compensation expense	$	54		$	624		$	678
Related income tax benefit	(19		)	(218		)	(237		)
Net share-based compensation expense	$	35		$	406		$	441



	Nine Months Ended December 31, 2017
	Stock Options			Restricted Shares			Total
Share-based compensation expense	$	162		$	2,651		$	2,813
Related income tax benefit	(49		)	(937		)	(986		)
Net share-based compensation expense	$	113		$	1,714		$	1,827



	Nine Months Ended December 31, 2016
	Stock Options			Restricted Shares			Total
Share-based compensation expense	$	419		$	1,723		$	2,142
Related income tax benefit	(147		)	(603		)	(750		)
Net share-based compensation expense	$	272		$	1,120		$	1,392

Schedule of Stock Options Activity

Stock option activity was as follows:



	Nine Months Ended December 31, 2017
	Number of Shares		Weighted Average Exercise Price		Remaining Contractual Life	Aggregate Intrinsic Value
					(Years)	(in millions)
Outstanding at April 1, 2017	251,635		$	24.44
Granted	—		—
Exercised	(19,918	)	16.51
Canceled	—		—
Outstanding at December 31, 2017	231,717		$	25.12	6.5	$4.8
Exercisable at December 31, 2017	213,791		$	25.17	6.5	$4.4

Schedule of Restricted Stock Activity

Restricted share activity was as follows:



	Nine Months Ended December 31, 2017
	Number of Shares		Weighted Average Grant Date Fair Value
Outstanding at April 1, 2017	209,491		$	26.53
Granted	121,902		46.23
Vested	(79,107	)	22.77
Canceled	(4,415	)	33.26
Outstanding at December 31, 2017	247,871		$	37.30

LONG-TERM DEBT (Tables)

9 Months Ended

Dec. 31, 2017

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Debt consists of the following (in thousands):



	December 31, 2017			March 31, 2017
Revolving Credit Facility, interest rate of 2.82% and 2.23%, respectively	$	28,000		$	60,625
Whitmore term loan, interest rate of 3.57% and 2.98%, respectively	12,161			12,582
Total debt	40,161			73,207
Less: Current portion	(561		)	(561		)
Long-term debt	$	39,600		$	72,646

DERIVATIVE INSTRUMENTS AND HEDGE ACCOUNTING (Tables)

9 Months Ended

Dec. 31, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivatives

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



	December 31, 2017		March 31, 2017
Current derivative assets	$	57	$	—
Current derivative liabilities	134		199
Non-current derivative liabilities	431		420

EARNINGS PER SHARE (Tables)

9 Months Ended

Dec. 31, 2017

Earnings Per Share [Abstract]

Reconciliation of Earnings Per Share



	Three Months Ended December 31,						Nine Months Ended December 31,
	2017			2016			2017			2016
Income from continuing operations	$	2,635		$	1,859		$	22,072		$	14,477
Loss from discontinued operations	(36,672		)	(1,454		)	(40,293		)	(6,134		)
Net (loss) income	$	(34,037	)	$	405		$	(18,221	)	$	8,343

Weighted average shares:
Common stock	15,694			15,586			15,659			15,529
Participating securities	—			246			—			219
Denominator for basic earnings per common share	15,694			15,832			15,659			15,748
Potentially dilutive securities	—			62			—			64
Denominator for diluted earnings per common share	15,694			15,894			15,659			15,812

Basic earnings (loss) per common share:
Continuing operations	$	0.17		$	0.12		$	1.41		$	0.92
Discontinued operations	(2.34		)	(0.09		)	(2.57		)	(0.39		)
Net (loss) income	$	(2.17	)	$	0.03		$	(1.16	)	$	0.53

Diluted earnings (loss) per common share:
Continuing operations	$	0.17		$	0.12		$	1.41		$	0.92
Discontinued operations	(2.34		)	(0.09		)	(2.57		)	(0.39		)
Net (loss) income	$	(2.17	)	$	0.03		$	(1.16	)	$	0.53

FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Dec. 31, 2017

Fair Value Disclosures [Abstract]

Summary of Changes in Fair Value



	Nine Months Ended December 31, 2017
	SureSeal
Balance at April 1, 2017	$	6,390
Change in estimate	110
Payment of contingent fee	(6,500		)
Balance at December 31, 2017	$	—

Fair Value Measurements, Nonrecurring



	Carrying Values before Impairment		Estimated Fair Value		Level 1		Level 2		Level 3

Intangible assets	$	30,073	$	—	$	—	$	—	$	—
Property, plant and equipment	8,064		—		—		—		—
Inventory	6,409		—		—		—		—
Prepaid expenses and other current assets	426		215		—		—		215

RETIREMENT PLANS (Tables)

9 Months Ended

Dec. 31, 2017

Retirement Benefits [Abstract]

Schedule of Net Pension Benefit

The following tables set forth the combined net pension benefit recognized in our condensed consolidated financial statements for all plans (in thousands):



	Three Months Ended December 31,
	2017			2016
Service cost, benefits earned during the period	$	14		$	—
Interest cost on projected benefit obligation	628			616
Expected return on assets	(980		)	(902		)
Amortization of net actuarial loss	7			—
Net pension benefit	$	(331	)	$	(286	)



	Nine Months Ended December 31,
	2017			2016
Service cost, benefits earned during the period	$	41		$	—
Interest cost on projected benefit obligation	1,883			1,850
Expected return on assets	(2,941		)	(2,706		)
Amortization of net actuarial loss	21			—
Net pension benefit	$	(996	)	$	(856	)

OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

9 Months Ended

Dec. 31, 2017

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):



	Three Months Ended December 31,
	2017			2016
Currency translation adjustments:
Balance at beginning of period	$	(4,495	)	$	(7,180	)
Adjustments for foreign currency translation	(134		)	(1,534		)
Balance at end of period	$	(4,629	)	$	(8,714	)
Interest rate swaps:
Balance at beginning of period	$	(436	)	$	(1,288	)
Unrealized gains (losses), net of taxes of $(40) and $(375), respectively (a)	74			696
Reclassification of losses included in interest expense, net of taxes of $(17) and $(45), respectively	32			83
Other comprehensive income	106			779
Balance at end of period	$	(330	)	$	(509	)
Defined benefit plans:
Balance at beginning of period	$	(1,927	)	$	(1,221	)
Amortization of net loss, net of taxes of $(5) and $(1), respectively	9			2
Balance at end of period	$	(1,918	)	$	(1,219	)



	Nine Months Ended December 31,
	2017			2016
Currency translation adjustments:
Balance at beginning of period	$	(8,132	)	$	(5,248	)
Adjustments for foreign currency translation	3,503			(3,466		)
Balance at end of period	$	(4,629	)	$	(8,714	)
Interest rate swaps:
Balance at beginning of period	$	(402	)	$	(1,221	)
Unrealized gains (losses), net of taxes of $23 and $(239), respectively (a)	(43		)	444
Reclassification of losses included in interest expense, net of taxes of $(61) and ($144), respectively	115			268
Other comprehensive loss	72			712
Balance at end of period	$	(330	)	$	(509	)
Defined benefit plans:
Balance at beginning of period	$	(1,901	)	$	(1,229	)
Amortization of net (gain) loss, net of taxes of $9 and $(5), respectively	(17		)	10
Balance at end of period	$	(1,918	)	$	(1,219	)


(a)	Unrealized losses are reclassified to earnings as underlying cash interest payments are made. We expect to recognize a loss of $0.1 million, net of deferred taxes, over the next twelve months related to designated cash flow hedges based on their fair values at December 31, 2017.

SEGMENTS (Tables)

9 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Schedule of Segments

Three Months Ended December 31, 2017:



(in thousands)	Industrial Products		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other			Total
Revenues, net	$	37,906	$	31,129	$	69,035	$	1		$	69,036
Operating income	7,299		4,048		11,347		(3,068		)	8,279

Three Months Ended December 31, 2016:



(in thousands)	Industrial Products		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other			Total
Revenues, net	$	31,715	$	33,498	$	65,213	$	44		$	65,257
Operating income	3,978		3,099		7,077		(1,951		)	5,126

Nine Months Ended December 31, 2017:



(in thousands)	Industrial Products		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other			Total
Revenues, net	$	139,654	$	103,101	$	242,755	$	2		$	242,757
Operating income	33,211		15,116		48,327		(8,147		)	40,180

Nine Months Ended December 31, 2016:



(in thousands)	Industrial Products		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other			Total
Revenues, net	$	117,048	$	93,898	$	210,946	$	89		$	211,035
Operating income	24,482		12,709		37,191		(10,462		)	26,729

ORGANIZATION AND OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES - Additional Information (Details)	6 Months Ended	9 Months Ended
	Sep. 30, 2017 Segment	Dec. 31, 2017 Segment Brand
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of business segments \| Segment	3	2
Highly respected industrial brands \| Brand		100

ORGANIZATION AND OPERATIONS AND SUMMARY OF ACCOUNTING POLICIES - Schedule of Restructuring Charges (Details) - Strathmore $ in Thousands	9 Months Ended
	Dec. 31, 2017 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 232
Inception to Date Restructuring Charges	856
Cost of revenues
Restructuring Cost and Reserve [Line Items]
Restructuring charges	232
Inception to Date Restructuring Charges	856
Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0
Inception to Date Restructuring Charges	0
Severance/ Retention
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0
Inception to Date Restructuring Charges	291
Severance/ Retention \| Cost of revenues
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0
Inception to Date Restructuring Charges	291
Severance/ Retention \| Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0
Inception to Date Restructuring Charges	0
Asset Write- down
Restructuring Cost and Reserve [Line Items]
Restructuring charges	69
Inception to Date Restructuring Charges	69
Asset Write- down \| Cost of revenues
Restructuring Cost and Reserve [Line Items]
Restructuring charges	69
Inception to Date Restructuring Charges	69
Asset Write- down \| Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0
Inception to Date Restructuring Charges	0
Other
Restructuring Cost and Reserve [Line Items]
Restructuring charges	163
Inception to Date Restructuring Charges	496
Other \| Cost of revenues
Restructuring Cost and Reserve [Line Items]
Restructuring charges	163
Inception to Date Restructuring Charges	496
Other \| Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0
Inception to Date Restructuring Charges	$ 0

ACQUISITION (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
ACQUISITION (Details) - USD ($) $ in Thousands	Feb. 28, 2017	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2017	Sep. 30, 2017
Business Acquisition [Line Items]
Goodwill		$ 81,870		$ 81,870		$ 80,863
Net sales		30,202	$ 27,369	111,725	$ 98,448
Operating income		8,279	$ 5,126	40,180	$ 26,729
Greco Holdings, LLC
Business Acquisition [Line Items]
Purchase price, amount transferred	$ 28,200
Fair value of property, plant and equipment acquired	800
Fair value of inventory acquired	500
Fair value of deferred tax liabilities assumed	3,400
Net sales		4,300		14,400		1,200
Operating income		500		3,000		200
Industrial Products \| Greco Holdings, LLC
Business Acquisition [Line Items]
Goodwill, acquired during period						$ 13,800
Goodwill		13,800		$ 13,800			$ 13,600
Purchase price allocation adjustment		$ 200
Customer Lists \| Greco Holdings, LLC
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 10,300
Assets acquired, amortization period	15 years
Non-compete agreements \| Greco Holdings, LLC
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 800
Assets acquired, amortization period	5 years
Lease Agreements \| Greco Holdings, LLC
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 100
Assets acquired, amortization period	9 years
Trademarks \| Greco Holdings, LLC
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 1,000

DISCONTINUED OPERATIONS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment expense	$ 46,007	$ 0	$ 46,007	$ 2,800

DISCONTINUED OPERATIONS - Income Statement (Details) - Discontinued Operations, Held-for-sale - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues, net	$ 4,616	$ 10,239	$ 19,289	$ 28,700
Impairment expense	46,007	0	46,007	2,800
Loss from discontinued operations before income taxes	(52,029)	(1,750)	(57,685)	(8,959)
Income tax benefit	15,357	296	17,392	2,825
Loss from discontinued operations, net	$ (36,672)	$ (1,454)	$ (40,293)	$ (6,134)

- Definition

Amount before tax of income (loss) from a discontinued operation. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

DISCONTINUED OPERATIONS - Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Assets
Total current assets	$ 3,023	$ 14,781
Total non-current assets	0	38,809
Discontinued Operations, Held-for-sale
Assets
Accounts receivable, net	2,808	3,951
Inventories, net	0	6,736
Prepaid expenses and current assets	215	4,094
Total current assets	3,023	14,781
Property, plant and equipment, net	0	7,085
Intangibles assets, net	0	31,298
Deferred tax assets	0	426
Total non-current assets	0	38,809
Total assets	3,023	53,590
Liabilities
Accounts payable, accrued and other expenses	$ 3,613	$ 5,184

INVENTORIES (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 22,329	$ 18,960
Work in process	3,986	6,271
Finished goods	26,112	25,535
Total inventories	52,427	50,766
Less: LIFO reserve	(5,295)	(5,295)
Less: Obsolescence reserve	(1,645)	(1,806)
Inventories, net	$ 45,487	$ 43,665

INTANGIBLE ASSETS - Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2017	Mar. 31, 2017
Intangible Assets [Line Items]
Gross Amount	$ 74,554	$ 73,315
Accumulated Amortization	(30,965)	(25,324)
Trade names and trademarks not being amortized
Intangible Assets [Line Items]
Gross Amount	$ 11,358	11,321
Patents
Intangible Assets [Line Items]
Wtd Avg Life (Years)	12 years
Gross Amount	$ 9,636	9,576
Accumulated Amortization	$ (5,459)	(4,779)
Customer lists and amortized trademarks
Intangible Assets [Line Items]
Wtd Avg Life (Years)	12 years
Gross Amount	$ 58,168	57,421
Accumulated Amortization	$ (23,478)	(19,523)
Non-compete agreements
Intangible Assets [Line Items]
Wtd Avg Life (Years)	5 years
Gross Amount	$ 1,731	1,469
Accumulated Amortization	$ (681)	(194)
Other
Intangible Assets [Line Items]
Wtd Avg Life (Years)	12 years
Gross Amount	$ 5,019	4,849
Accumulated Amortization	$ (1,347)	$ (828)

INTANGIBLE ASSETS - Schedule of Estimated Future Amortization (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization of intangible assets	$ 1,400	$ 1,100	$ 4,100	$ 3,200
2018	1,222		1,222
2019	4,434		4,434
2020	4,191		4,191
2021	3,968		3,968
2022	3,519		3,519
2023	$ 3,276		$ 3,276

SPIN-OFF EXECUTIVE COMPENSATION (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 1,121	$ 678	$ 2,813	$ 2,142
Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Executive compensation expense for the cash incentive payments	200	200	500	1,700
Share-based compensation expense	$ 100	$ 100	300	$ 900
Accelerated compensation expense for cash incentive payments			1,200
Accelerated compensation expense for stock compensation payments			$ 1,000

SHARE-BASED COMPENSATION - Additional Information (Detail) - 2015 Plan - Stock Compensation Plan - shares	Dec. 31, 2017	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock granted		1,230,000
Shares available for issuance	907,208
Share Distribution
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for issuance	510,447

SHARE-BASED COMPENSATION - Schedule of Share-Based Compensation (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 1,121	$ 678	$ 2,813	$ 2,142
Related income tax benefit	(391)	(237)	(986)	(750)
Net share-based compensation expense	730	441	1,827	1,392
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	54	54	162	419
Related income tax benefit	(16)	(19)	(49)	(147)
Net share-based compensation expense	38	35	113	272
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	1,067	624	2,651	1,723
Related income tax benefit	(375)	(218)	(937)	(603)
Net share-based compensation expense	$ 692	$ 406	$ 1,714	$ 1,120

SHARE-BASED COMPENSATION - Stock Option Activity (Detail) - Stock Options - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017
Number of Shares
Number of Shares, Outstanding, Beginning balance			251,635
Number of Shares, Granted	0	0	0
Number of Shares, Exercised			(19,918)
Number of Shares, Canceled			0
Number of Shares, Outstanding, Ending balance	231,717		231,717
Exercisable at end of period, Number of shares	213,791		213,791
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding, Beginning balance (USD per share)			$ 24.44
Weighted Average Exercise Price, Granted (USD per share)			0.00
Weighted Average Exercise Price, Exercised (USD per share)			16.51
Weighted Average Exercise Price, Canceled (USD per share)			0.00
Weighted Average Exercise Price, Outstanding, Ending balance (USD per share)	$ 25.12		25.12
Exercisable at End of Period, Exercise Price (USD per share)	$ 25.17		$ 25.17
Outstanding, Remaining Contractual Life			6 years 5 months 16 days
Exercisable, Remaining Contractual Life			6 years 6 months
Outstanding, Aggregate Intrinsic Value	$ 4.8		$ 4.8
Exercisable, Aggregate Intrinsic Value	$ 4.4		$ 4.4

SHARE-BASED COMPENSATION (Stock Option Activity) - Additional Information (Detail) - Stock Options - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average vesting period (less than)			1 year
Stock options, vested, fair value	$ 0.1	$ 0.3	$ 0.2	$ 0.7
Stock options exercised, fair value			$ 0.3
Number of shares granted (shares)	0	0	0
Intrinsic value of options exercised		$ 2.2		2.2
Tax benefit received from exercise of stock options		$ 0.1		$ 0.1

SHARE-BASED COMPENSATION - Restricted Share Activity (Detail) - Restricted Shares	9 Months Ended
	Dec. 31, 2017 $ / shares shares
Number of Shares
Number of Shares, Outstanding, Beginning balance \| shares	209,491
Number of Shares, Granted \| shares	121,902
Number of Shares, Vested \| shares	(79,107)
Number of Shares, Canceled \| shares	(4,415)
Number of Shares, Outstanding, Ending balance \| shares	247,871
Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, Outstanding, Beginning balance \| $ / shares	$ 26.53
Weighted Average Grant Date Fair Value, Granted \| $ / shares	46.23
Weighted Average Grant Date Fair Value, Vested \| $ / shares	22.77
Weighted Average Grant Date Fair Value, Canceled \| $ / shares	33.26
Weighted Average Grant Date Fair Value, Outstanding, Ending balance \| $ / shares	$ 37.30

SHARE-BASED COMPENSATION (Restricted Stock Activity) - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs related to unvested restricted shares	$ 7.0		$ 7.0
Weighted average vesting period			2 years 1 month 9 days
Fair value of restricted shares granted	3.4	$ 2.7	$ 5.6	$ 4.1
Fair value of restricted shares vested	$ 3.5	$ 1.3	$ 3.5	$ 1.8
Restricted shares granted (shares)			121,902
Restricted Stock Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted shares granted (shares)			44,113	49,373
Vesting period			36 months
Restricted Stock Performance Shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based vesting range			0.00%	0.00%
Restricted Stock Performance Shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based vesting range			200.00%	100.00%

LONG-TERM DEBT - Schedule of Long-Term Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Debt Instrument [Line Items]
Total debt	$ 40,161	$ 73,207
Less: Current portion	(561)	(561)
Long-term debt	39,600	72,646
Whitmore \| Secured Term Loan
Debt Instrument [Line Items]
Whitmore term loan, interest rate of 3.57% and 2.98%, respectively	$ 12,161	$ 12,582
Interest rate	3.57%	2.98%
Revolving Credit Facility
Debt Instrument [Line Items]
Revolving Credit Facility, interest rate of 2.82% and 2.23%, respectively	$ 28,000	$ 60,625
Interest rate	2.82%	2.23%

LONG-TERM DEBT (Revolving Credit Agreement) - Additional Information (Detail)		9 Months Ended
	Sep. 15, 2017 USD ($)	Dec. 31, 2017 USD ($)	Mar. 31, 2017 USD ($)	Dec. 11, 2015 USD ($)
Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument, term		5 years
Maximum borrowing capacity				$ 250,000,000
Line of credit sublimit	$ 125,000,000.0
Commitment fee paid	0.15%
Line of credit amount repaid		$ 32,600,000
Line of credit outstanding amount		28,000,000	$ 60,625,000
Line of credit facility, remaining borrowing capacity		$ 272,000,000	$ 239,400,000
Minimum fixed charge coverage ratio		1.25
Maximum leverage ratio of Funded Debt to EBITDA		3.00
Revolving Credit Facility \| Prime Rate
Debt Instrument [Line Items]
Spread on interest rate	0.50%
Revolving Credit Facility \| LIBOR
Debt Instrument [Line Items]
Spread on interest rate	1.50%
Revolving Credit Agreement, Accordion Feature
Debt Instrument [Line Items]
Additional borrowing capacity with accordion feature				$ 50,000,000

LONG-TERM DEBT (Whitmore Term Loan) - Additional Information (Detail) - Whitmore - Secured Term Loan - USD ($)	9 Months Ended
	Dec. 31, 2017	Mar. 31, 2017
Debt Instrument [Line Items]
Debt instrument, periodic principal payment	$ 140,000
Whitmore term loan	$ 12,161,000	$ 12,582,000
LIBOR
Debt Instrument [Line Items]
Spread on interest rate	2.00%

DERIVATIVE INSTRUMENTS AND HEDGE ACCOUNTING - Additional Information (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Dec. 31, 2017	Mar. 31, 2017
Interest Rate Swap
Derivative [Line Items]
Notional amount	$ 40.2	$ 43.2
Maximum remaining length of contract	11 years 7 months 6 days
Foreign Exchange Forward
Derivative [Line Items]
Gain on changes in fair value of foreign exchange forward contracts		$ 0.2

DERIVATIVE INSTRUMENTS AND HEDGE ACCOUNTING - Fair Value of Derivatives (Detail) - Hedging Instrument - Interest Rate Swap - USD ($) $ in Thousands	Dec. 31, 2017	Mar. 31, 2017
Derivatives, Fair Value [Line Items]
Current derivative assets	$ 57	$ 0
Current derivative liabilities	134	199
Non-current derivative liabilities	$ 431	$ 420

EARNINGS PER SHARE (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Earnings Per Share [Abstract]
Income from continuing operations	$ 2,635	$ 1,859	$ 22,072	$ 14,477
Loss from discontinued operations	(36,672)	(1,454)	(40,293)	(6,134)
Net (loss) income	$ (34,037)	$ 405	$ (18,221)	$ 8,343
Weighted average shares:
Common stock (shares)	15,694,000	15,586,000	15,659,000	15,529,000
Participating securities (shares)	0	246,000	0	219,000
Denominator for basic earnings per common share (shares)	15,694,000	15,832,000	15,659,000	15,748,000
Potentially dilutive securities (shares)	0	62,000	0	64,000
Denominator for diluted earnings per common share (shares)	15,694,000	15,894,000	15,659,000	15,812,000
Basic earnings (loss) per common share:
Continuing operations (USD per share)	$ 0.17	$ 0.12	$ 1.41	$ 0.92
Discontinued operations (USD per share)	(2.34)	(0.09)	(2.57)	(0.39)
Net (loss) income (USD per share)	(2.17)	0.03	(1.16)	0.53
Diluted earnings (loss) per common share:
Continuing (USD per share)	0.17	0.12	1.41	0.92
Discontinued operations (USD per share)	(2.34)	(0.09)	(2.57)	(0.39)
Net (loss) income (USD per share)	$ (2.17)	$ 0.03	$ (1.16)	$ 0.53
Antidilutive shares excluded from earnings per share (in shares)	339		310

SHAREHOLDERS' EQUITY (Details) - USD ($)	9 Months Ended
SHAREHOLDERS' EQUITY (Details) - USD ($)	Dec. 31, 2017	Nov. 11, 2016
Equity [Abstract]
Share repurchase program authorized amount		$ 35,000,000.0
Share repurchase program term	2 years
Shares repurchased (shares)	1,221
Shares repurchased, amount	$ 100,000

FAIR VALUE MEASUREMENTS - Change in Fair Value (Detail) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Change in estimate	$ 0	$ (376)
Sure Seal Brand
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Balance at April 1, 2017	6,390
Change in estimate	110
Payment of contingent fee	(6,500)
Balance at December 31, 2017	$ 0

FAIR VALUE MEASUREMENTS - Nonrecurring (Details) - Discontinued Operations, Held-for-sale $ in Thousands	Dec. 31, 2017 USD ($)
Carrying Values before Impairment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible assets	$ 30,073
Property, plant and equipment	8,064
Inventory	6,409
Prepaid expenses and other current assets	426
Estimated Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible assets	0
Property, plant and equipment	0
Inventory	0
Prepaid expenses and other current assets	215
Estimated Fair Value \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible assets	0
Property, plant and equipment	0
Inventory	0
Prepaid expenses and other current assets	0
Estimated Fair Value \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible assets	0
Property, plant and equipment	0
Inventory	0
Prepaid expenses and other current assets	0
Estimated Fair Value \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible assets	0
Property, plant and equipment	0
Inventory	0
Prepaid expenses and other current assets	$ 215

RETIREMENT PLANS (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
RETIREMENT PLANS (Detail) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
Retirement Benefits [Abstract]
Service cost, benefits earned during the period	$ 14	$ 0	$ 41	$ 0
Interest cost on projected benefit obligation	628	616	1,883	1,850
Expected return on assets	(980)	(902)	(2,941)	(2,706)
Amortization of net actuarial loss	7	0	21	0
Net pension benefit	$ (331)	$ (286)	$ (996)	$ (856)

INCOME TAXES (Detail) $ in Thousands	3 Months Ended		9 Months Ended
INCOME TAXES (Detail) $ in Thousands	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Income Tax Disclosure [Abstract]
Tax Cuts and Jobs Act of 2017, change in tax rate, deferred tax asset, income tax benefit	$ 400
Tax Cuts and Jobs Act of 2017, income tax benefit	700
Tax Cuts and Jobs Act of 2017, adjustment, income tax expense (benefit)	$ (300)		$ 4,900
Foreign tax credit			$ 1,000
Tax Cuts and Jobs Act of 2017, adjustment, increase (decrease) in effective tax rate	0.633		0.128
Income before income taxes	$ 7,775	$ 5,040	$ 38,315	$ 26,430
Provision for income taxes	$ 5,140	$ 3,181	$ 16,243	$ 11,953
Effective tax rate	66.10%	63.30%	42.40%	45.20%
Tax Cuts and Jobs Act of 2017, effective income tax rate reconciliation, amount	$ 700
Tax adjustment	$ 900
Reserves for uncertain tax positions		$ 1,000		$ 1,900
Increase in anticipated effective tax rate	18.90%			7.00%

OTHER COMPREHENSIVE INCOME (LOSS) (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2017	Dec. 31, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			$ 272,438
Other comprehensive (loss) income	$ (19)	$ (753)	3,558	$ (2,744)
Balance at end of period	260,435		260,435
Losses on cash flow hedges expected to be reclassified to earnings within next 12 months			100
Currency translation adjustments:
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(4,495)	(7,180)	(8,132)	(5,248)
Other comprehensive (loss) income	(134)	(1,534)	3,503	(3,466)
Balance at end of period	(4,629)	(8,714)	(4,629)	(8,714)
Interest rate swaps:
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(436)	(1,288)	(402)	(1,221)
Unrealized gains (losses), net of taxes	74	696	(43)	444
Reclassification of other comprehensive (income) loss, net of taxes	32	83	115	268
Other comprehensive (loss) income	106	779	72	712
Balance at end of period	(330)	(509)	(330)	(509)
Unrealized losses, tax	(40)	(375)	23	(239)
Reclassification from AOCI, tax	(17)	(45)	(61)	(144)
Defined benefit plans:
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(1,927)	(1,221)	(1,901)	(1,229)
Reclassification of other comprehensive (income) loss, net of taxes	9	2	(17)	10
Balance at end of period	(1,918)	(1,219)	(1,918)	(1,219)
Reclassification from AOCI, tax	$ (5)	$ (1)	$ 9	$ (5)

SEGMENTS (Detail) $ in Thousands	3 Months Ended		6 Months Ended	9 Months Ended
SEGMENTS (Detail) $ in Thousands	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Sep. 30, 2017 Segment	Dec. 31, 2017 USD ($) Segment	Dec. 31, 2016 USD ($)
Segment Reporting Information [Line Items]
Number of business segments \| Segment			3	2
Revenues, net	$ 69,036	$ 65,257		$ 242,757	$ 211,035
Operating income	8,279	5,126		40,180	26,729
Subtotal – Reportable Segments
Segment Reporting Information [Line Items]
Revenues, net	69,035	65,213		242,755	210,946
Operating income	11,347	7,077		48,327	37,191
Subtotal – Reportable Segments \| Industrial Products
Segment Reporting Information [Line Items]
Revenues, net	37,906	31,715		139,654	117,048
Operating income	7,299	3,978		33,211	24,482
Subtotal – Reportable Segments \| Specialty Chemicals
Segment Reporting Information [Line Items]
Revenues, net	31,129	33,498		103,101	93,898
Operating income	4,048	3,099		15,116	12,709
Eliminations and Other
Segment Reporting Information [Line Items]
Revenues, net	1	44		2	89
Operating income	$ (3,068)	$ (1,951)		$ (8,147)	$ (10,462)