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Document and Entity Information - USD ($) $ in Millions	12 Months Ended
Document and Entity Information - USD ($) $ in Millions	Mar. 31, 2018	May 24, 2018	Sep. 29, 2017
Document And Entity Information [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY
Trading Symbol	CSWI
Entity Registrant Name	CSW INDUSTRIALS, INC.
Entity Central Index Key	0001624794
Current Fiscal Year End Date	--03-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		15,841,605
Entity Public Float			$ 479.8

Consolidated Balance Sheets - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Current assets:
Cash and cash equivalents	$ 11,706,000	$ 23,146,000
Bank time deposits	0	1,776,000
Accounts receivable, net	63,383,000	59,831,000
Inventories, net	42,974,000	43,665,000
Prepaid expenses and other current assets	7,077,000	6,722,000
Current assets, discontinued operations	2,427,000	11,906,000
Total current assets	127,567,000	147,046,000
Property, plant and equipment, net	54,473,000	56,812,000
Goodwill	81,764,000	80,863,000
Intangible assets, net	53,054,000	59,312,000
Other assets	23,958,000	16,011,000
Noncurrent assets, discontinued operations	0	38,383,000
Total assets	340,816,000	398,427,000
Current liabilities:
Accounts payable	16,826,000	10,372,000
Accrued and other current liabilities	23,501,000	22,382,000
Current portion of long-term debt	561,000	561,000
Current liabilities, discontinued operations	3,966,000	5,184,000
Total current liabilities	44,854,000	38,499,000
Long-term debt	23,459,000	72,646,000
Retirement benefits payable	2,017,000	1,464,000
Other long-term liabilities	4,721,000	13,380,000
Total liabilities	75,051,000	125,989,000
Equity:
Common shares, $0.01 par value; Shares authorized - 50,000; Shares issued - 15,957 and 15,846, respectively	158,000	157,000
Preferred shares, $0.01 par value; Shares authorized - 10,000; Shares issued - 0	0	0
Additional paid-in capital	42,684,000	38,701,000
Treasury shares, at cost (80 and 29 shares, respectively)	(3,252,000)	(1,011,000)
Retained earnings	233,650,000	245,026,000
Accumulated other comprehensive loss	(7,475,000)	(10,435,000)
Total equity	265,765,000	272,438,000
Total liabilities and equity	$ 340,816,000	$ 398,427,000

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2018	Mar. 31, 2017
Statement of Financial Position [Abstract]
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)	15,957,000	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 (shares)	80,000	29,000

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Revenues, net	$ 326,222	$ 287,460	$ 266,917
Cost of revenues	(178,306)	(158,529)	(132,250)
Gross profit	147,916	128,931	134,667
Selling, general and administrative expense	(97,202)	(94,490)	(88,472)
Impairment loss	0	(1,315)	0
Operating income	50,714	33,126	46,195
Interest expense, net	(2,317)	(2,695)	(3,036)
Other (expense) income, net	(150)	1,729	(186)
Income before income taxes	48,247	32,160	42,973
Provision for income taxes	(15,565)	(14,360)	(19,166)
Income from continuing operations	32,682	17,800	23,807
(Loss) income from discontinued operations	(44,564)	(6,729)	1,664
Net (loss) income	$ (11,882)	$ 11,071	$ 25,471
Basic earnings (loss) per common share:
Continuing operations (USD per share)	$ 2.09	$ 1.13	$ 1.52
Discontinued operations (USD per share)	(2.85)	(0.43)	0.11
Net (loss) income (USD per share)	(0.76)	0.70	1.63
Diluted earnings (loss) per common share:
Continuing operations (USD per share)	2.09	1.12	1.52
Discontinued operations (USD per share)	(2.85)	(0.42)	0.10
Net (loss) income (USD per share)	$ (0.76)	$ 0.70	$ 1.62

Consolidated Statements of Comprehensive (Loss) Income - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (11,882)	$ 11,071	$ 25,471
Other comprehensive income (loss):
Foreign currency translation adjustments	3,295	(2,884)	(1,371)
Cash flow hedging activity, net of taxes of $(101), $(441) and $8, respectively	294	819	(15)
Pension and other post retirement effects, net of taxes of $337, $311 and $(2,145), respectively	(629)	(672)	3,981
Other comprehensive income (loss)	2,960	(2,737)	2,595
Comprehensive (loss) income	$ (8,922)	$ 8,334	$ 28,066

Consolidated Statements of Comprehensive (Loss) Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Cash flow hedging activity, taxes	$ (101)	$ (441)	$ 8
Pension and other post retirement effects, taxes	$ 337	$ 311	$ (2,145)

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock	Treasury Shares	Additional Paid-In Capital	Retained Earnings	Net Investment of Capital Southwest	Accumulated Other Comprehensive Loss
Balance at beginning of period at Mar. 31, 2015	$ 204,601	$ 0	$ 0	$ 0	$ 208,784	$ 6,110	$ (10,293)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based and other executive compensation	2,231			2,231
Stock activity under stock plans	96			96
Tax benefit associated with share-based compensation	212			212
Net (loss) income	25,471				25,471
Dividends	(300)				(300)
Other comprehensive income, net of tax	2,595						2,595
Effects of Share Distribution and contributions from Capital Southwest	23,104	156		29,058		(6,110)
Balance at end of period at Mar. 31, 2016	258,010	156	0	31,597	233,955	0	(7,698)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Share-based and other executive compensation	4,641			4,641
Stock activity under stock plans	1,159	1	(1,011)	2,169
Tax benefit associated with share-based compensation	294			294
Net (loss) income	11,071				11,071
Other comprehensive income, net of tax	(2,737)						(2,737)
Balance at end of period at Mar. 31, 2017	272,438	157	(1,011)	38,701	245,026	0	(10,435)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of ASU 2016-09 \| Accounting Standards Update 2016-09				(506)	506
Share-based and other executive compensation	4,161			4,161
Stock activity under stock plans	(732)	1	(1,061)	328
Net (loss) income	(11,882)				(11,882)
Other comprehensive income, net of tax	2,960						2,960
Repurchase of common shares	(1,180)		(1,180)
Balance at end of period at Mar. 31, 2018	$ 265,765	$ 158	$ (3,252)	$ 42,684	$ 233,650	$ 0	$ (7,475)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Cash flows from operating activities:
Net (loss) income	$ (11,882)	$ 11,071	$ 25,471
Less: (Loss) income from discontinued operations	(44,564)	(6,729)	1,664
Income from continuing operations	32,682	17,800	23,807
Adjustments to reconcile net (loss) income to cash provided by operating activities:
Depreciation	7,651	7,470	6,507
Amortization of intangible and other assets	7,282	6,284	5,231
Provision for inventory reserves	235	167	0
Provision for doubtful accounts, net of recoveries	(457)	131	(282)
Share-based and other executive compensation	4,161	4,642	2,231
Acquisition-related non-cash gain	0	(376)	(1,950)
Net (gain) loss on disposals of property, plant and equipment	(70)	221	56
Pension plan curtailment benefit	0	0	(8,020)
Net pension (benefit) expense	(1,062)	(1,092)	3,506
Impairment of assets	0	1,315	0
Net deferred taxes	1,640	464	7,262
Changes in operating assets and liabilities:
Accounts receivable, net	(2,698)	(5,028)	884
Inventories, net	992	214	4,573
Prepaid expenses and other current assets	7,651	(793)	(4,742)
Other assets	(106)	(112)	(3,211)
Accounts payable and other current liabilities	6,263	5,669	3,082
Retirement benefits payable and other liabilities	(6,780)	2,385	(1,177)
Net cash provided by operating activities, continuing operations	57,384	39,361	37,757
Net cash (used in) provided by operating activities, discontinued operations	(14,228)	(325)	3,773
Net cash provided by operating activities	43,156	39,036	41,530
Cash flows from investing activities:
Capital expenditures	(5,534)	(6,869)	(9,306)
Proceeds from sale of assets held for investment	547	0	0
Proceeds from sale of assets	92	605	46
Net change in bank time deposits	1,860	10,968	(1,978)
Cash paid for acquisitions, net of cash acquired	0	(28,179)	(97,236)
Net cash used in investing activities, continuing operations	(3,035)	(23,475)	(108,474)
Net cash used in investing activities, discontinued operations	(1,510)	(2,493)	(1,747)
Net cash used in investing activities	(4,545)	(25,968)	(110,221)
Cash flows from financing activities:
Borrowings on lines of credit	0	0	179,040
Repayments on lines of credit	(49,187)	(16,476)	(116,061)
Payments of deferred loan costs	(421)	0	(1,081)
Purchase of treasury shares	(2,241)	(1,011)	0
Cash contribution from Capital Southwest	0	0	13,000
Proceeds from stock option activity	328	2,169	96
Dividends paid to Capital Southwest	0	0	(300)
Net cash (used in) provided by financing activities	(51,521)	(15,318)	74,694
Effect of exchange rate changes on cash and equivalents	1,470	(591)	(464)
Net change in cash and cash equivalents	(11,440)	(2,841)	5,539
Cash and cash equivalents, beginning of period	23,146	25,987	20,448
Cash and cash equivalents, end of period	11,706	23,146	25,987
Supplemental non-cash disclosure:
Cash paid during the year for interest	2,118	2,623	3,074
Cash paid during the year for income taxes	9,673	9,793	18,298
Pension plan assets contributed by Capital Southwest	$ 0	$ 0	$ 10,357

Organization and Operations and Summary of Significant Accounting Policies

12 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Operations and Summary of Significant Accounting Policies

ORGANIZATION AND OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

CSW Industrials, Inc. (“CSWI,” the “Company,” “we,” “our” or “us”) is a diversified industrial growth company with well-established, scalable platforms and domain expertise across two segments: 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, sealants and high-performance specialty lubricants. Drawing on our innovative and proven technologies, we seek to deliver solutions to our professional customers that require superior performance and reliability. Our diverse product portfolio includes more than 100 highly respected industrial brands including RectorSeal No. 5™ thread sealants, KOPR KOTE™ anti-seize lubricants, KATS® Coatings, Safe-T-Switch® condensate overflow shutoff devices, Air Sentry® breathers, Deacon® high temperature sealants, AC Leak Freeze® to stop refrigerant leaks and Greco Aluminum Railings®.

Our products are well known in the specific industries we serve and have a reputation for high quality and reliability. Markets that we serve include HVAC, architecturally-specified building products, industrial, plumbing, energy, rail, mining and other general industrial markets.

The Share Distribution – On September 30, 2015, Capital Southwest Corporation (“Capital Southwest”) spun-off certain of its industrial products, coatings, sealants and adhesives and specialty chemicals businesses by means of a distribution of the outstanding shares of common stock of CSWI on a pro rata basis to holders of Capital Southwest common stock (the “Share Distribution”). CSWI became an independent, publicly traded company at the time of the Share Distribution.

Restructuring – During the fiscal year ended March 31, 2017, we initiated a restructuring program related to our Industrial Products segment. The program was initiated in response to excess capacity, which caused us to perform a facility rationalization analysis. The restructuring program is complete and no additional costs are expected to be incurred. There were other costs in the prior years, which are now presented as part of discontinued operations. Restructuring charges are as follows:



(in thousands)	Severance/ Retention		Asset Write-down		Other (a)		Total
For the year ended March 31, 2018
Cost of revenues	$	—	$	69	$	163	$	232
Selling, general and administrative expense	—		—		—		—
Total	$	—	$	69	$	163	$	232
Inception to Date Restructuring Charges
Cost of revenues	$	291	$	69	$	496	$	856
Selling, general and administrative expense	—		—		—		—
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. These charges were expensed as incurred.

Basis of Presentation – CSWI began operations on September 30, 2015 as a result of the Share Distribution. With the exception of cash funded at inception and the contributed capital stock of Capital Southwest, we did not own any material assets prior to the Share Distribution. The historical financial position, results of operations and cash flows included in this Annual Report on Form 10-K for the fiscal year ended March 31, 2018 (“Annual Report”) represent the consolidated financial statements of CSWI. Equity accounts presented in the balance sheet as of March 31, 2016 and for all subsequent periods represent the equity of CSWI. The consolidated financial statements have been prepared on a standalone basis and are derived from the underlying accounting records of the underlying businesses in conformity with United States (“U.S.”) generally accepted accounting principles (“GAAP”).

The consolidated financial statements include all revenues, costs, assets and liabilities directly attributable to CSWI. All significant intercompany balances and transactions have been eliminated in consolidation.

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


•	Timing and amount of revenue recognition;


•	Deferred taxes and tax reserves;


•	Pension benefits; and


•	Valuation of goodwill and indefinite-lived intangible assets.

Cash and Cash Equivalents – We consider all highly liquid instruments purchased with original maturities of three months or less and money market accounts to be cash equivalents. We maintain our cash and cash equivalents at financial institutions for which the combined account balances in individual institutions may exceed insurance coverage and, as a result, there is a concentration of credit risk related to amounts on deposit in excess of insurance coverage. We had deposits in domestic banks of $4.0 million and $0.4 million at March 31, 2018 and 2017, respectively, and balances of $7.7 million and $22.2 million were held in foreign currencies in foreign banks at March 31, 2018 and 2017, respectively.

Bank Time Deposits – Bank time deposits include investments with maturities of over three months that are redeemable within one year of the fiscal year end without significant penalty. Our bank time deposits of $0.0 and $1.8 million as of March 31, 2018 and 2017, respectively, were certificates of deposit held in Canada and the United Kingdom.

Allowance for Doubtful Accounts – The allowance for doubtful accounts is established based on estimates of the amount of uncollectible accounts receivable, which is determined principally based upon the aging of the accounts receivable, but also customer credit history, industry and market segment information, economic trends and conditions and credit reports. Customer credit issues, customer bankruptcies or general economic conditions may also impact our estimates. Credit risks are mitigated by the diversity of our customer base across different geographic regions and end markets.

Inventories and Related Reserves – Inventories are stated at the lower of cost or market and include raw materials, supplies, direct labor and manufacturing overhead. Cost is determined using the last-in, first-out (“LIFO”) method for valuing inventories at our primary domestic operations. Our foreign subsidiaries use either the first-in, first out method or the weighted average cost method to value inventory. Foreign inventories represent approximately 9% and 6% of total inventories as of March 31, 2018 and 2017, respectively.

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

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



Land improvements	5	to	40 years
Buildings and improvements	7	to	40 years
Plant, office and lab equipment	5	to	10 years

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

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

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

If a reporting unit fails the qualitative assessment, then valuation models and other relevant data are used to estimate the reporting unit’s fair value. The valuation models require the input of subjective assumptions. We use an income approach for impairment testing of goodwill and indefinite-lived intangible assets, using a discounted cash flow method. Estimates of future revenue and expense are made for five years, growth estimates are made to calculate terminal value and a discount rate is used that approximates our weighted average cost of capital. We perform qualitative or quantitative assessments to test asset carrying values for impairment at January 31, which is the annual impairment testing date. No impairment loss was recognized as a result of the impairment tests for the fiscal years ended March 31, 2018, 2017 and 2016.

We have intangible assets consisting of patents, trademarks, customer lists and non-compete agreements. Definite-lived intangible assets are assessed for impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable. In addition, we have other trademarks and license agreements that are considered to have indefinite lives. We review indefinite-lived intangible assets at least annually for impairment, or whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Significant assumptions used in the impairment test include the discount rate, royalty rate, future projections and terminal value growth rate. These inputs are considered non-recurring level three inputs within the fair value hierarchy. An impairment loss would be recognized when estimated future cash flows are less than their carrying amount. We recorded an impairment of intangible assets of continuing operations of $0.0, $0.2 million and $0.0 for the fiscal years ended March 31, 2018, 2017 and 2016, respectively. See Note 3 for discussion of impairment of intangible assets of discontinued operations.

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

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

Fair Values of Financial Instruments – Our financial instruments are presented at fair value in our consolidated balance sheets, with the exception of our long-term debt, as discussed in Note 8. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Where available, fair value is based on observable market prices or parameters or derived from such prices or parameters. Where observable prices or inputs are not available, valuation models may be applied.

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

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

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

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

Recurring fair value measurements are limited to investments in derivative instruments and reserves for contingent consideration. The fair value measurements of our derivative instruments are determined using models that maximize the use of the observable market inputs including interest rate curves and both forward and spot prices for currencies, and are classified as Level II under the fair value hierarchy. The fair values of our derivative instruments are included in Note 9. The fair value measurements of our reserves for contingent consideration were classified as Level III and generally determined using a weighted average probability model based primarily on projected net revenues.

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

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

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

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

•

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

•

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

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

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

Revenue Recognition – We generally recognize revenue upon shipment of product, at which time title and risk of loss pass to the customer. Additionally, we require that all of the following circumstances are satisfied: a) persuasive evidence of an arrangement exists, b) price is fixed or determinable, c) collectability is reasonably assured and d) delivery has occurred or services have been rendered. Net revenues represent gross revenues invoiced to customers less certain related charges for contractual discounts or rebates. Revenues for certain long-term contracts are recorded on the percentage of completion method with progress measured on a cost-to-cost basis, and represent less than 6% of annual net sales. Discounts provided to customers at the point of sale are recognized as reductions in revenue as the products are sold. Rebate amounts are recorded as a reduction of revenue at least quarterly using estimates of customer participation and performance. Freight charges billed to customers are included in net revenues and the related shipping costs are included in cost of revenues in our consolidated statements of operations.

Research and Development ("R&D") – R&D costs are expensed as incurred. Costs incurred for R&D primarily include salaries and benefits and consumable supplies, as well as rent, professional fees, utilities and the depreciation of property and equipment used in R&D activities. R&D costs included in selling, general and administrative expense were $4.6 million, $4.8 million and $4.5 million for the fiscal years ended March 31, 2018, 2017 and 2016, respectively.

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

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

We recognize income tax related interest and penalties, if any, as a component of income tax expense.

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

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

We recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities. The determination is based on the technical merits of the position and presumes that each uncertain tax position will be examined by the relevant taxing authority that has full knowledge of all relevant information. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement.

Earnings Per Share – We use the two-class method of calculating earnings per share, which determines earnings per share for each class of common stock and participating security as if all earnings of the period had been distributed. If the holders of restricted stock awards are entitled to vote and receive dividends during the restriction period, unvested shares of restricted stock qualify as participating securities and, accordingly, are included in the basic computation of earnings per share. Our unvested restricted shares participate on an equal basis with common shares; therefore, there is no difference in undistributed earnings allocated to each participating security. Accordingly, the presentation in Note 10 is prepared on a combined basis and is presented as earnings per common share. Diluted earnings per share is based on the weighted average number of shares as determined for basic earnings per share plus shares potentially issuable in conjunction with stock options.

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

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

Discontinued Operations and Segment Realignment – During the third quarter of the fiscal year ended March 31, 2018, we committed to a plan to divest our Strathmore products business (the "Coatings business"). This determination resulted in the reclassification of the assets and liabilities comprising that business to assets held-for-sale, and a corresponding adjustment to our consolidated statements of operations to reflect discontinued operations for all periods presented.

Additionally, as a result of our decision to divest the Coatings business, we realigned our reportable segments to better align our resources to support our ongoing business strategy. We retained the Industrial Products Segment and combined the non-coatings 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 our Chief Operating Decision Maker evaluates performance and makes resource allocation decisions, subsequent to the decision to divest the Coatings business. Historical segment information has been adjusted to reflect the effect of this change. Our segment information is more fully disclosed in Note 18. Historical information also reflects discontinued operations presentation for the portion of our business meeting the held-for-sale criteria as described in Note 3.

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


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


•	Specialty Chemicals includes 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.

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

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 and ASU No. 2016-20, issued in May and December 2016, respectively. 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. In 2017, we identified the relevant revenue streams and documented the procedures and control changes required to address the impacts that ASU 2014-09 may have on our business, as well as trained appropriate personnel on the procedures and controls going into effect April 1, 2018. From the analysis performed, two main revenue streams were identified from contracts with customers: (1) book and ship and (2) long-term contracts. Our revenue recognition methodology does not materially change following the adoption of the new standard as approximately 95% of our annual revenue is derived from book and ship sales. As of March 31, 2018, we have completed our impact assessment for the implementation of the new revenue recognition guidance. In addition, we will elect to apply certain of the permitted practical expedients within the revenue recognition guidance. We will adopt the new guidance effective April 1, 2018 using the modified retrospective approach and will recognize the cumulative effect of initially applying the guidance as an adjustment to opening retained earnings effective April 1, 2018. We have evaluated the impact of this ASU and have estimated the impact to be ($0.7) million adjustment to opening retained earnings upon adoption.

In July 2015, the FASB issued ASU No. 2015-11, “Inventory (Subtopic 330): Simplifying the Measurement of Inventory.” This ASU simplifies the subsequent measurement of inventory by requiring inventory to be measured at the lower of cost and net realizable value. Entities will continue to apply their existing impairment models to inventories that are accounted for using LIFO and retail inventory method. This ASU was effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2016. We adopted the amendments of this ASU April 1, 2017. The adoption of this ASU did not impact our consolidated financial condition and results of operations.

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 using the modified retrospective application of adoption. Early adoption is permitted. We are currently evaluating the impact of ASU No. 2016-02 on our consolidated financial condition and results of operations.

In March 2016, the FASB issued ASU No. 2016-09, “Compensation – Stock Compensation (Topic 718),” which simplifies the accounting for share-based compensation. The areas for simplification in this ASU involve several aspects of the accounting for share-based payment transactions, including the income tax consequences, classification of awards as either equity or liabilities and classification on the statement of cash flows. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2016. We adopted the amendments within this ASU effective April 1, 2017. The resulting impact was a decrease in additional paid in capital and an increase in retained earnings of $0.5 million.

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 No. 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. CSWI does not have restricted cash and restricted cash equivalents, as such the amendments in this ASU will not impact 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 ASU 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 income statement 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. We, in partnership with our actuaries, 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, this ASU simplifies the hedge accounting requirements and improves the disclosures of hedging arrangements. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2018. We are currently evaluating the impact of ASU No. 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. SAB 118 provides a measurement period that should not extend beyond one year from the Tax Act enactment date for companies to complete the accounting under ASC 740. In accordance with SAB 118, a company must reflect the income tax effects of those aspects of the Act for which the accounting under ASC 740 is complete. To the extent that a company's accounting for certain income tax effects of the Tax Act is incomplete but it is able to determine a reasonable estimate, it must record a provisional estimate in the financial statements. If a company cannot determine a provisional estimate to be included in the financial statements, it should continue to apply ASC 740 on the basis of the provisions of the tax laws that were in effect immediately before the enactment of the Tax Act. Companies with fiscal years that end on a date other than December 31 will need to use a blended tax rate as 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, 2017. The following provisional adjustments have been recorded:

•

The Deemed Repatriation Transition Tax ("Transition Tax") is a tax on previously untaxed accumulated and current earnings and profits ("E&P") of certain of our foreign subsidiaries. To assess the amount of the Transition Tax, we must determine, in addition to other factors, the amount of post-1986 E&P of the relevant subsidiaries, as well as the amount of non-U.S. income taxes paid on such earnings. We are able to make a reasonable estimate of the Transition Tax; however, we are continuing to review additional information regarding our accumulated E&P and non-U.S. income taxes paid to more precisely compute the amount of the Transition Tax. In addition, based on current state tax law, we estimate the state impact of the Transition Tax to be insignificant. This estimate will be revised based on a calculation of our final Transition Tax as well as any updated guidance on state treatment of the deemed repatriation.


•	While we have not yet completed all of the computations necessary or completed a detailed inventory of our expenditures that qualify for immediate expensing, we have recorded a provisional benefit based on our current intent to fully expense all qualifying expenditures.

Because of the complexity of the new Global Intangible Low-Taxed Income ("GILTI") tax rules, we are continuing to evaluate this provision of the Tax Act and the application of ASC 740. Under U.S. GAAP, we are allowed to make an accounting policy choice of either (1) treating taxes due on future U.S. inclusions in taxable income related to GILTI as a current period expense when incurred (the “period cost method”) or (2) factoring such amounts into measurement of our deferred taxes (the “deferred method”). Our selection of an accounting policy with respect to the new GILTI tax rules will depend, in part, on analyzing our global income to determine whether we expect to have future U.S. inclusions in taxable income related to GILTI and, if so, what the impact is expected to be. We are not currently able to reasonably estimate the effect of the new GILTI tax rules on future U.S. inclusions in taxable income as the expected future impact of this provision of the Tax Act depends on our current structure and business. Therefore, we have not made any adjustments related to potential GILTI tax in our financial statements and have not made a policy decision regarding whether to record deferred taxes on GILTI. We anticipate that additional clarification and evaluation of these rules will occur during fiscal year 2019 and, if the GILTI tax rules have an impact to our provision for income taxes, an estimate will be recorded as soon as a reliable estimate can be formed.

In February 2018, the FASB issued ASU No. 2018-02, "Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income." The amendments in this ASU allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Act. Consequently, the amendments eliminate the stranded tax effects resulting from the Act and will improve the usefulness of information reported to financial statement users. However, because the amendments only relate to the reclassification of the income tax effects of the Act, the underlying guidance that requires that the effect of a change in tax laws or rates be included in income from continuing operations is not affected. The amendments in this ASU also require certain disclosures about stranded tax effects. This ASU is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2018. We are currently evaluating the impact of ASU No. 2018-02 on our consolidated financial condition and results of operations.

Acquisitions	12 Months Ended
Acquisitions	Mar. 31, 2018
Business Combinations [Abstract]
Acquisitions	ACQUISITIONS 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. 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 preliminary 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 9 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. No pro forma information has been provided due to immateriality. AC Leak Freeze On December 16, 2015, we acquired substantially all of the assets of AC Leak Freeze™ (“Leak Freeze”), based in Baltimore, Maryland for $16.3 million in cash funded by borrowings under CSWI’s Revolving Credit Facility (discussed in Note 8). Leak Freeze is a leading manufacturer of original equipment manufacturer-approved air conditioning and refrigerant leak repair solutions. The excess of the purchase price over the fair value of the identifiable assets acquired was $5.7 million and was allocated to goodwill, which will be deductible for income tax purposes. Goodwill represents the value expected to be obtained from a more extensive specialty chemical product portfolio for the HVAC market and leveraging our larger distributor network. The allocation of the fair value of the assets acquired included customer lists, trademarks and trade names and a non-compete agreement of $8.1 million, $1.4 million and $0.2 million, respectively, as well as inventory in the amount of $0.7 million. Customer lists and the non-compete agreement are being amortized over 10 years and five years, respectively, while trademarks and trade names and goodwill are not being amortized. Leak Freeze activity has been included in our Specialty Chemicals segment since the acquisition date. No pro forma information has been provided due to immateriality. Deacon Industries, Inc. On October 1, 2015, we acquired substantially all of the assets of Deacon Industries, Inc. (“Deacon”), based in Washington, Pennsylvania for $12.6 million. The acquisition was funded by $11.0 million of borrowings under a line of credit and $1.1 million cash on hand. The remaining $0.5 million of the purchase price represents a payment contingent upon the achievement of certain performance metrics during the fiscal year ended March 31, 2017. This liability was reduced to $0.0 during the quarter ended December 31, 2016 based on expected achievement of performance metrics. Deacon is a leading manufacturer of high temperature sealants and injectable packings with applications in a variety of industrial end markets, both on an emergency and maintenance basis. The excess of the purchase price over the fair value of the identifiable assets acquired was $4.1 million and was allocated to goodwill, which will be deductible for income tax purposes. Goodwill represents the value expected to be obtained from a more extensive sealant and injectable packing product portfolio and leveraging our larger distributor network. The allocation of the fair value of the assets acquired included customer lists, know-how, trademarks and trade names and a non-compete agreement of $2.9 million, $2.6 million, $1.1 million, and $0.1 million, respectively, as well as property, plant, and equipment and inventory in the amounts of $0.9 million and $0.5 million, respectively. Customer lists, know-how and the non-compete agreement are being amortized over 15 years, 10 years and five years, respectively, while trademarks and trade names and goodwill are not being amortized. Deacon activity was historically included in our Coatings, Sealants & Adhesives segment since the acquisition date and is now reflected within our Specialty Chemicals segment due to our segment realignment. No pro forma information has been provided due to immateriality.

Discontinued Operations

12 Months Ended

Mar. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

DISCONTINUED OPERATIONS

During the third quarter of fiscal year ended March 31, 2018, we commenced a process to divest our Coatings business to allow us to focus resources on our core growth platforms. Our Coatings business manufactures specialized industrial coatings products including urethanes, epoxies, acrylics and alkyds. The Coatings business meets the held-for-sale criteria under ASC 360, "Property, Plant and Equipment," and accordingly, we have classified and accounted for the assets and liabilities of the Coatings business as held-for-sale in the accompanying consolidated balance sheets and as discontinued operations, net of tax in the accompanying consolidated statements of operations and cash flows. We estimated that the fair value of the business was less than carrying value, resulting in an estimated $46.0 million impairment charge recorded during the third quarter of the fiscal year ended March 31, 2018. We completed an initial assessment of the assets and liabilities of the Coatings business and recorded the impairment based on our best estimates as of the date of issuance of financial results for the third quarter of the fiscal year ended March 31, 2018. No adjustments to previously recorded estimates have been made subsequently.

Summarized selected financial information for Strathmore for the fiscal years ended March 31, 2018, 2017 and 2016, is presented in the following table:



	Fiscal Years Ended March 31,
(in thousands)	2018			2017			2016
Revenues, net	$	23,153		$	39,624		$	52,688
Impairment expense	(46,007		)	(2,800		)	—
(Loss) income from discontinued operations before income taxes	(61,164		)	(10,616		)	1,253
Income tax benefit	16,600			3,887			411
(Loss) income from discontinued operations	$	(44,564	)	$	(6,729	)	$	1,664

The assets and liabilities of discontinued operations are stated separately as of March 31, 2018 and 2017, respectively, in the consolidated balance sheets and are comprised of the following items:



	Fiscal Years Ended March 31,
(in thousands)	2018		2017
Assets
Accounts receivable, net	$	2,259	$	3,951
Inventories, net	—		6,736
Prepaid expenses and other current assets (a)	168		1,219
Total current assets	2,427		11,906
Property, plant and equipment, net	—		7,085
Intangible assets	—		31,298
Other	—		—
Total non-current assets	—		38,383
Total assets	$	2,427	$	50,289

Liabilities
Accounts payable, accrued and other expenses	$	3,966	$	5,184

(a)

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. Tax expense has been attributed to discontinued operations and includes an estimate of all relevant tax characteristics pertaining to the disposed Coatings business, including the effects resulting from the enactment of the Tax Cuts and Jobs Act. 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 reliably quantified.

Goodwill and Intangible Assets

12 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

The changes in the carrying amount of goodwill for the fiscal years ended March 31, 2018 and 2017 were as follows (in thousands):



	Industrial Products			Specialty Chemicals		Total
Balance at March 31, 2016	$	36,194		$	31,563	$	67,757
Acquisition of Greco	13,619			—		13,619
Currency translation	(513		)	—		(513		)
Balance at March 31, 2017	$	49,300		$	31,563	$	80,863
Purchase price adjustment for Greco	152			—		152
Currency translation	749			—		749
Balance at March 31, 2018	$	50,201		$	31,563	$	81,764

The following table provides information about out intangible assets for the fiscal years ended March 31, 2018 and 2017 (in thousands, except years):



		March 31, 2018					March 31, 2017
	Wtd Avg Life (Years)	Ending Gross Amount		Accumulated Amortization			Ending Gross Amount		Accumulated Amortization
Finite-lived intangible assets:
Patents (a)	11	$	9,489	$	(5,564	)	$	9,576	$	(4,779	)
Customer lists and amortized trademarks	12	58,161		(24,812		)	57,421		(19,523		)
Non-compete agreements	5	1,713		(762		)	1,469		(194		)
Other	10	5,016		(1,529		)	4,849		(828		)
		$	74,379	$	(32,667	)	$	73,315	$	(25,324	)
Trade names and trademarks not being amortized:		$	11,342	$	—		$	11,321	$	—


(a)	During the fiscal years ended March 31, 2018 and 2017, we wrote off $0.0 and $4.0 million of intangible assets that were fully amortized.

Amortization expense for the fiscal years ended March 31, 2018, 2017 and 2016 was $7.1 million, $6.1 million and $5.2 million, respectively. The following table presents the estimated future amortization of finite-lived intangible assets for the next five fiscal years ending March 31 (in thousands):



2019	$	5,766
2020	5,530
2021	4,637
2022	4,463
2023	3,885

- Definition

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

+ References + Details

Spin-Off Executive Compensation	12 Months Ended
Spin-Off Executive Compensation	Mar. 31, 2018
Postemployment Benefits [Abstract]
Spin-Off Executive Compensation	SPIN-OFF EXECUTIVE COMPENSATION On August 28, 2014, the board of directors of Capital Southwest (our former parent company) adopted an executive compensation plan consisting of grants of nonqualified stock options, restricted stock and cash incentive awards (the “Spin-Off Compensation Plan”) to executive officers of Capital Southwest, which included Joseph Armes, our current Chief Executive Officer, and Kelly Tacke, our former Chief Financial Officer. Under the Spin-Off Compensation Plan, certain Capital Southwest executive officers were eligible to receive an amount equal to 6.0% of the aggregate appreciation in Capital Southwest’s share price from the adoption of the Spin-Off Compensation Plan to the “trigger event date” (later determined by Capital Southwest’s board to be December 29, 2015). The nonqualified stock options became exercisable and the restricted stock and the cash incentive awards vested ratably in three annual tranches beginning on December 29, 2015. Effective with the Share Distribution, CSWI entered into an Employee Matters Agreement with Capital Southwest. Under this agreement, Capital Southwest retained the obligation to fund the cash incentive awards granted under the Spin-Off Executive Compensation Plan, and all liabilities with respect to such cash incentive awards remained liabilities of Capital Southwest. The final tranche of awards under the Spin-Off Compensation Plan vested on December 29, 2017. As a result, we will not recognize any additional executive compensation expense under the Spin-Off Compensation Plan in any future period. During the fiscal year ended March 31, 2018, we recorded total executive compensation expense for the cash incentive payments of $0.5 million for Mr. Armes and total stock compensation expense of $0.3 million. During the fiscal year ended March 31, 2017, we recorded total executive compensation expense for the cash incentive payments of $1.9 million for Mr. Armes and Ms. Tacke, and total stock compensation expense of $1.0 million. Within those amounts were $1.2 million and $1.0 million of cash incentive and stock compensation expenses, respectively, which were accelerated as a result of the termination of Ms. Tacke’s employment with CSWI in June 2016. During the fiscal year ended March 31, 2016, we recorded total executive compensation expense for the cash incentive payments of $1.3 million for Mr. Armes and Ms. Tacke, and total stock compensation expense of $0.3 million.

Share-Based Compensation

12 Months Ended

Mar. 31, 2018

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

Share-Based Compensation

SHARE-BASED COMPENSATION

We maintain the shareholder-approved 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 well as the issuance of conversion awards in connection with the Share Distribution. Additionally, 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. As of March 31, 2018, 929,459 shares were available for issuance under the 2015 Plan.

In connection with the Share Distribution, all stock option and restricted stock awards granted by Capital Southwest, including awards granted under the Spin-Off Compensation Plan discussed in Note 5, were adjusted and each holder of an award received both Capital Southwest and CSWI stock options and restricted stock awards.

•

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

•

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

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

We recorded share-based compensation as follows for the fiscal years ended March 31, 2018, 2017 and 2016:



	Fiscal Year Ended March 31, 2018
(in thousands)	Stock Options			Restricted Stock			Total
Share-based compensation expense	$	178		$	3,482		$	3,660
Related income tax benefit	(56		)	(1,097		)	(1,153		)
Net share-based compensation expense	$	122		$	2,385		$	2,507



	Fiscal Year Ended March 31, 2017
(in thousands)	Stock Options			Restricted Stock			Total
Share-based compensation expense	$	473		$	2,341		$	2,814
Related income tax benefit	(166		)	(819		)	(985		)
Net share-based compensation expense	$	307		$	1,522		$	1,829



	Fiscal Year Ended March 31, 2016
(in thousands)	Stock Options			Restricted Stock			Total
Share-based compensation expense	$	206		$	750		$	956
Related income tax benefit	(72		)	(263		)	(335		)
Net share-based compensation expense	$	134		$	487		$	621

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



	Fiscal Year Ended March 31, 2018
	Number of Shares		Weighted Average Exercise Price		Remaining Contractual Life (Years)	Aggregate Intrinsic Value (in Millions)
Outstanding at April 1, 2017	251,635		$	24.44
Exercised	(19,918	)	16.51
Outstanding at March 31, 2018	231,717		$	25.12	6.2	$	4.6
Exercisable at March 31, 2018	219,767		$	25.14	6.2	$	4.4



	Fiscal Year Ended March 31, 2017
	Number of Shares		Weighted Average Exercise Price		Remaining Contractual Life (Years)	Aggregate Intrinsic Value (in Millions)
Outstanding at April 1, 2016	362,513		$	24.53
Exercised	(85,981	)	25.23
Canceled	(24,897	)	23.11
Outstanding at March 31, 2017	251,635		$	24.44	6.9	$	3.1
Exercisable at March 31, 2017	170,412		$	24.12	6.7	$	2.1

At March 31, 2018, we had an immaterial amount of unrecognized compensation cost related to non-vested stock options that will be amortized into net income over the remaining weighted average vesting period of less than 1.0 year. Other than options granted in conjunction with the Share Distribution to convert existing Capital Southwest options during the fiscal year ended March 31, 2016, no options have been granted. The intrinsic value of options exercised during the fiscal year ended March 31, 2018 was $0.5 million. Cash received for options exercised during the fiscal year ended March 31, 2018 was $0.3 million, and the tax benefit received was $0.2 million. The total fair value of stock options vested during the years ended March 31, 2018, 2017 and 2016 was $0.2 million, $0.7 million and $0.5 million, respectively.

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



	Number of Shares		Weighted Average Grant Date Fair Value
Outstanding at April 1, 2017	209,489		$	28.20
Granted	122,919		46.24
Vested	(89,708	)	23.75
Canceled	(27,681	)	38.53
Outstanding at March 31, 2018	215,019		$	37.41

During the restriction period, the holders of restricted shares are entitled to vote and, except for conversion awards issued under the Spin-Off Compensation Plan, receive dividends. At March 31, 2018, we had unrecognized compensation cost related to unvested restricted shares of $5.2 million, which will be amortized into net income over the remaining weighted average vesting period of 1.9 years. The total fair value of restricted shares vested during the years ended March 31, 2018 and 2017 was $4.0 million and $1.8 million, respectively.

Restricted shares granted during the years ended March 31, 2018 and 2017 includes 42,860 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 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.

Details of Certain Consolidated Balance Sheet Captions

12 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Details of Certain Consolidated Balance Sheet Captions

DETAILS OF CERTAIN CONSOLIDATED BALANCE SHEET CAPTIONS

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



	March 31,
	2018			2017
Accounts receivable trade	$	62,494		$	59,299
Other receivables	1,904			1,998
	64,398			61,297
Less: Allowance for doubtful accounts	(1,015		)	(1,466		)
Accounts receivable, net	$	63,383		$	59,831

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



	March 31,
	2018			2017
Raw materials and supplies	$	21,855		$	18,960
Work in process	3,756			6,271
Finished goods	24,561			25,535
Total inventories	50,172			50,766
Less: LIFO reserve	(5,511		)	(5,295		)
Less: Obsolescence reserve	(1,687		)	(1,806		)
Inventories, net	$	42,974		$	43,665

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



	March 31,
	2018			2017
Land and improvements	$	3,365		$	3,357
Buildings and improvements	44,341			43,705
Plant, office and laboratory equipment	66,230			62,563
Construction in progress	2,504			3,189
	116,440			112,814
Less: Accumulated depreciation	(61,967		)	(56,002		)
Property, plant and equipment, net	$	54,473		$	56,812

Depreciation of property, plant and equipment was $7.7 million, $7.5 million and $6.5 million for the fiscal years ended March 31, 2018, 2017 and 2016, respectively. Of these amounts, cost of revenues includes $5.6 million, $5.2 million and $4.3 million, respectively.

Other assets consist of the following (in thousands):



	March 31,
	2018		2017
Property held for investment (a)	$	8,863	$	9,208
Deferred income taxes	7,636		—
Retirement assets in excess of benefit obligations	3,334		2,954
Other	4,125		3,849
Other assets	$	23,958	$	16,011


(a)	As of March 31, 2018 and 2017, $6.2 million and $6.2 million in assets were held for sale, respectively, in the "Elimination and Other" segment.

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



	March 31,
	2018		2017
Compensation and related benefits	$	12,839	$	11,668
Rebates and marketing agreements	2,892		2,435
Non-income taxes	741		814
Income taxes payable	768		868
Other accrued expenses	6,261		6,597
Accrued and other current liabilities	$	23,501	$	22,382

Other long-term liabilities consists of the following (in thousands):



	March 31,
	2018		2017
Contingent consideration	$	—	$	6,390
Deferred income taxes	2,360		3,090
Other	2,361		3,900
Other long-term liabilities	$	4,721	$	13,380

Long-Term Debt

12 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Long-Term Debt

LONG-TERM DEBT

Debt consists of the following (in thousands):



	March 31,
	2018			2017
Revolving Credit Facility, interest rate of 3.13% and 2.23%, respectively	$	12,000		$	60,625
Whitmore term loan, interest rate of 3.88% and 2.98%, respectively	12,020			12,582
Total debt	24,020			73,207
Less: Current portion	(561		)	(561		)
Long-term debt	$	23,459		$	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 and to extend the original maturity date to September 15, 2022. The interest rate, financial covenants and all other material provisions of the Amended Credit Agreement were not materially changed by this amendment. Borrowings under this facility bear interest at the prime rate plus 0.25% or the London Interbank Offered Rate (“LIBOR”) plus 1.25%, 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 the maturity date. The Revolving Credit Facility is secured by substantially all of our assets. As of March 31, 2018 and 2017, we had $12.0 million and $60.6 million, respectively, in outstanding borrowings under the Revolving Credit Facility, which reduced our borrowing capacity to $288.0 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 of 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 March 31, 2018.

Whitmore Term Loan

As of March 31, 2018, Whitmore Manufacturing, LLC (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 R&D facility. The term loan matures on July 31, 2029, with payments of $140,000 due each quarter. Borrowings under the term loan bear interest at a variable annual rate equal to one-month LIBOR plus 2.0%. As of March 31, 2018 and 2017, Whitmore had $12.0 million and $12.6 million, respectively, in outstanding borrowings under the term loan. Interest payments under the Whitmore term loan are hedged under an interest rate swap agreement as described in Note 9.

Future Minimum Debt Payments

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



2019	$	561
2020	561
2021	561
2022	561
2023	12,561
Thereafter	9,215
Total	$	24,020

Operating Leases

We have entered into non-cancelable operating leases with initial terms in excess of one year for manufacturing and office facilities. The leases expire at various times through 2026. Future minimum lease payments under these leases for fiscal years ending March 31 are as follows (in thousands):



2019	$	2,344
2020	2,106
2021	1,865
2022	876
2023	384
Thereafter	3,118
Total	$	10,693

Rental expense under operating leases was $2.5 million, $2.8 million and $2.2 million for the fiscal years ended March 31, 2018, 2017 and 2016, respectively.

Derivative Instruments and Hedge Accounting

12 Months Ended

Mar. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedge Accounting

DERIVATIVE INSTRUMENTS AND HEDGE ACCOUNTING

We enter into interest rate swap agreements to hedge exposure to floating interest rates on certain portions of our debt. As of March 31, 2018 and 2017, we had $12.0 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 March 31, 2018, the maximum remaining length of any interest rate swap contract in place was approximately 11.3 years.

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



	March 31,
	2018		2017
Current derivative liabilities	$	88	$	199
Non-current derivative liabilities	134		420

The impact of changes in the fair value of interest rate swaps is included in Note 17.

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 consolidated statement of operations for the year ended March 31, 2017.

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

Earnings Per Share

12 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

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

The following table sets forth the reconciliation of the numerator and the denominator of basic and diluted earnings per share for the fiscal years ended March 31, 2018, 2017 and 2016:



	Fiscal Years Ended March 31,
(amounts in thousands, except per share data)	2018			2017			2016
Income from continuing operations	$	32,682		$	17,800		$	23,807
(Loss) income from discontinued operations	(44,564		)	(6,729		)	1,664
Net (loss) income	$	(11,882	)	$	11,071		$	25,471
Weighted average shares:
Common stock	15,671			15,555			15,443
Participating securities	—			218			182
Denominator for basic earnings per common share	15,671			15,773			15,625
Potentially dilutive securities (a)	—			66			50
Denominator for diluted earnings per common share	15,671			15,839			15,675

Basic earnings (loss) per common share:
Continuing operations	$	2.09		$	1.13		$	1.52
Discontinued operations	(2.85		)	(0.43		)	0.11
Net (loss) income	$	(0.76	)	$	0.70		$	1.63

Diluted earnings (loss) per common share:
Continuing operations	$	2.09		$	1.12		$	1.52
Discontinued operations	(2.85		)	(0.42		)	0.10
Net (loss) income	$	(0.76	)	$	0.70		$	1.62


(a)	As a result of the net loss for the year ended March 31, 2018, we excluded 180,906 of unvested Restricted Shares from the calculation of diluted EPS due to their anti-dilutive effect. No shares were excluded as being anti-dilutive for the fiscal years ended March 31, 2017 or 2016.

Shareholders' Equity	12 Months Ended
Shareholders' Equity	Mar. 31, 2018
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 from time to time 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 its common stock and general market conditions. The program may be limited or terminated at any time at our discretion without notice. During the fiscal year ended March 31, 2018, 26,544 shares were repurchased for an aggregate of $1.2 million. No shares were repurchased prior to the fiscal year ended March 31, 2018.

Fair Value Measurements

12 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

The fair value of interest rate swaps discussed in Note 9 are determined using Level II inputs. The carrying value of our debt, included 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 March 31, 2018 and 2017 due to their short-term nature.

The fair values of acquisition-related contingent payments are estimated using Level III inputs. The contingent payment related to the acquisition of the Deacon assets utilized the weighted average probability method using forecasted sales. The most significant factor in the valuation is projected net revenues resulting from sales of Deacon products. The contingent payment related to the acquisition of assets from SureSeal utilized the weighted average probability method using forecasted sales and gross margin. The most significant factor in the valuation was projected net revenues resulting from sales of SureSeal products.

The following table sets forth the changes in fair value of contingent consideration recognized within the selling, general and administrative expenses of our consolidated statements of operations:



(in millions)	Deacon			SureSeal			Total
Balance at April 1, 2016	$	0.4		$	5.5		$	5.9
Change due to accretion	—			0.7			0.7
Change in estimate	(0.4		)	0.2			(0.2		)
Balance at March 31, 2017	$	—		$	6.4		$	6.4
Change in estimate	—			0.1			0.1
Payment of contingent consideration	—			(6.5		)	(6.5		)
Balance at March 31, 2018	$	—		$	—		$	—

- Definition

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

+ References + Details

Retirement Plans

12 Months Ended

Mar. 31, 2018

Retirement Benefits [Abstract]

Retirement Plans

RETIREMENT PLANS

We maintain a frozen qualified defined benefit pension plan (the “Qualified Plan”) that covers certain of our U.S. employees. The Qualified Plan was previously closed to employees hired or re-hired on or after January 1, 2015 and it was also amended to freeze benefit accruals and to modify certain ancillary benefits provided under the Qualified Plan effective as of September 30, 2015. Benefits are based on years of service and an average of the highest five consecutive years of compensation during the last ten years of employment. A remeasurement was performed at September 30, 2015 to reflect the amendment of the Qualified Plan that froze participation and all future benefit accruals. The freeze of the Qualified Plan as of September 30, 2015 required the immediate recognition of a curtailment gain due to the accelerated recognition of all remaining prior service costs (benefits) and the decrease in the projected benefit obligation. The freeze of the Qualified Plan reduced net periodic pension expense for the remainder of fiscal year 2016 based on the remeasurement. The funding policy of the Qualified Plan is to contribute annual amounts that are currently deductible for federal income tax purposes. No contributions were made during the fiscal years ended March 31, 2018, 2017 or 2016.

During the year ended March 31, 2018, we offered lump sum payments to terminated vested participants, representing approximately 16% of our liability. Approximately 67% of those participants accepted the lump sum offer for an aggregate payment of $7.3 million.

We maintain a frozen unfunded retirement restoration plan (the “Restoration Plan”) that is a non-qualified plan providing for the payment to participating employees, upon retirement, of the difference between the maximum annual payment permissible under the Qualified Plan pursuant to federal limitations and the amount that would otherwise have been payable under the Qualified Plan. As with the Qualified Plan, the Restoration Plan was closed to new participants on January 1, 2015 and amended to freeze benefit accruals and to modify certain ancillary benefits effective as of September 30, 2015.

We maintain a registered defined benefit pension plan (the "Canadian Plan") that covers all of our employees based at our facility in Alberta, Canada. Employees are eligible for membership in the plan following the completion of one year of employment. Benefits accrue to eligible employees based on years of service and an average of the highest 60 consecutive months of compensation during the last 10 consecutive years of employment. Benefit eligibility typically occurs upon the first day of the month following an eligible employee’s reaching age 65, and plan benefits are typically paid monthly in advance for the lifetime of the participant.

The plans described above (collectively, the "Plans") are presented in aggregate as the impact of the Restoration Plan and Canadian Plan to our consolidated financial position and results of operations is not material.

The following are assumptions related to the Plans:



	March 31,
	2018		2017		2016
Assumptions used to determine benefit obligations:
Discount rate	3.98	%	4.23	%	4.50	%
Rate of compensation increases	3.00	%	3.00	%	(a)
Assumptions used to determine net pension expense:
Discount rate	4.23	%	4.50	%	4.25	%
Expected return on plan assets	6.18	%	6.19	%	7.00	%
Rate of compensation increases	3.00	%	3.00	%	(a)


(a)	Rate of compensation increase is no longer relevant to the Qualified Plan or Restoration Plan due to freezing benefit accruals. The rate of compensation increase on the Canadian Plan is 3.0%.

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

Net pension (benefit) expense for the Plans was:



	March 31,
(in thousands)	2018			2017			2016
Service cost – benefits earned during the year	$	58		$	94		$	2,069
Interest cost on projected benefit obligation	2,515			2,637			2,739
Expected return on assets	(3,927		)	(3,723		)	(3,226		)
Net amortization and deferral	30			30			9
Settlement expense	339			—			—
Curtailment benefit	—			—			(8,020		)
Other adjustment	—			(24		)	—
Net pension (benefit) expense	$	(985	)	$	(986	)	$	(6,429	)

The estimated prior service costs and the estimated net loss for the Plans that will be amortized from accumulated other comprehensive loss into pension expense in the fiscal year ended March 31, 2019 is $0 and $28,000, respectively.

The following is a summary of the changes in the Plans' pension obligations:



	March 31,
(in thousands)	2018			2017
Benefit obligation at beginning of year	$	61,434		$	60,561
Service cost	58			94
Interest cost	2,515			2,637
Actuarial loss	(73		)	(2,091		)
Benefits paid	(2,299		)	(2,514		)
Settlements (b)	(7,252		)	—
Other adjustment (a)	—			2,815
Currency translation impact	78			(68		)
Benefit obligation at end of year	$	54,461		$	61,434
Accumulated benefit obligation	$	54,197		$	61,132


(a)	Reflects amounts associated with the plan assets and obligations of the Canadian Plan that were previously omitted from aggregate pension disclosures due to immateriality.

(b) Reflects lump-sum payments to terminated vested participants.

The following is a reconciliation of the Plans' assets:



	March 31,
(in thousands)	2018			2017
Fair value of plan assets at beginning of year	$	62,271		$	60,878
Actual return on plan assets	2,704			1,523
Benefits paid	(2,193		)	(2,420		)
Company contributions	80			83
Settlements (b)	(7,252		)	—
Other adjustment (a)	—			2,263
Currency translation impact	65			(56		)
Fair value of plan assets at end of year	$	55,675		$	62,271


(a)	Reflects amounts associated with the plan assets and obligations of the Canadian Plan that were previously omitted from aggregate pension disclosures due to immateriality.


(b)	Reflects lump-sum payments to terminated vested participants.

We made no contributions to the Qualified Plan in the fiscal year ended March 31, 2018 and do not expect to make any contributions in the fiscal year ending March 31, 2019. We contributed $0.1 million to the Canadian Plan in the fiscal year ended March 31, 2018 and estimate that our contribution in the fiscal year ending March 31, 2019 will be $0.1 million.

The following summarizes the net pension asset for the Plans:



	March 31,
(in thousands)	2018			2017
Plan assets at fair value	$	55,675		$	62,271
Benefit obligation	(54,461		)	(61,434		)
Funded status	$	1,214		$	837

The following summarizes amounts recognized in the balance sheets for the Plans:



	March 31,
(in thousands)	2018			2017
Noncurrent assets	$	3,334		$	2,955
Current liabilities	(103		)	(654		)
Noncurrent liabilities	(2,017		)	(1,464		)
Funded status	$	1,214		$	837

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



	March 31,
(in thousands)	2018			2017
Accumulated other comprehensive loss at beginning of year	$	(1,901	)	$	(1,229	)
Amortization of net loss	26			17
Amortization of prior service credit	(5		)	3
Settlements (b)	232			—
Net loss arising during the year	(762		)	(63		)
Other adjustment (a)	(107		)	(644		)
Currency translation impact	(13		)	15
Accumulated other comprehensive loss at end of year	$	(2,530	)	$	(1,901	)


(a)	For fiscal year ended March 31, 2017, amounts are to recognize an adjustment, net of tax, to accumulated other comprehensive loss associated with the Canadian Plan.


(b)	Reflects impact of lump-sum payments to terminated vested participants.

Amounts recorded in accumulated other comprehensive loss consist of:



	March 31,
(in thousands)	2018			2017
Net prior service cost	$	41		$	45
Net loss	(2,571		)	(1,946		)
Accumulated other comprehensive loss	$	(2,530	)	$	(1,901	)

The current target allocations for plan assets are 15% – 20% equity securities, 75% – 80% for fixed income securities and 0% – 5% for alternatives. The actual asset allocations for the Plans are as follows:



	March 31,
Asset category	2018		2017
Equity securities	15	%	17	%
Fixed income securities	79	%	78	%
Other	5	%	4	%
Cash and cash equivalents	1	%	1	%
Total	100	%	100	%

The Plans' assets, shown below, are presented at fair value, as described in Note 1. The fair values of our Plans' assets were:



	March 31, 2018								March 31, 2017
(in thousands)			Hierarchical Levels								Hierarchical Levels
Asset category	Total		I		II		III		Total		I		II		III
Equity securities (a)	$	8,731	$	264	$	8,467	$	—	$	10,850	$	333	$	10,517	$	—
Fixed income securities (b)	43,810		—		43,810		—		48,312		—		48,312		—
Other (c)	2,753		424		2,329		—		2,760		493		2,267		—
Cash and cash equivalents	381		381		—		—		349		349		—		—
Total	$	55,675	$	1,069	$	54,606	$	—	$	62,271	$	1,175	$	61,096	$	—


(a)	This category includes investment in equity securities of large, medium and small companies and equity investments in foreign companies. Mutual funds included in this category are valued using the net asset value per unit as of the valuation date.


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


(c)	This category includes investments in commodity linked and real estate funds within the U.S. and investments in funds that invest in a combination of U.S. and non-U.S. equity and Canadian fixed income securities.

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



2019	$	2.6
2020	2.7
2021	2.8
2022	2.9
2023	3.0
Thereafter	15.9

Defined Contribution Plan

Effective October 1, 2015, we began to sponsor a defined contribution plan covering substantially all of our U.S. employees. Employees may contribute to this plan, and these contributions are matched by us up to 6.0% of eligible earnings. Additionally, we contribute 3.0% of eligible earnings to employees regardless of their level of participation in the plan, which is discretionary and subject to adjustment based on profitability. Effective January 1, 2017, the 3.0% discretionary contribution is contributed following the end of the calendar year. Contributions to the defined contribution plan were $3.6 million and $3.3 million for the years ended March 31, 2018 and 2017, respectively.

Employee Stock Ownership Plan

We sponsor a qualified, non-leveraged employee stock ownership plan (“ESOP”) in which domestic employees are eligible to participate following the completion of one year of service. The ESOP provides annual discretionary contributions of up to the maximum amount that is deductible under the Internal Revenue Code. Contributions to the ESOP are invested in our common stock. A participant’s interest in contributions to the ESOP fully vests after three years of credited service or upon retirement, permanent disability (each, as defined in the plan document) or death.

We recorded total contributions to the ESOP of $1.6 million, $2.1 million and $1.6 million during the fiscal years ended March 31, 2018, 2017 and 2016, respectively, based on performance in the prior fiscal year. During the fiscal year ended March 31, 2018, $1.5 million was recorded to expense based on performance in the fiscal year ended March 31, 2018 and is expected to be contributed to the ESOP for the during the fiscal year ending March 31, 2019.

The ESOP held 0 and 597,434 shares of Capital Southwest common stock as of March 31, 2018 and 2017, respectively. The ESOP held 850,940 and 907,748 shares of CSWI common stock as of March 31, 2018 and 2017, respectively.

Income Taxes

12 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

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



	March 31,
	2018		2017		2016
U.S. Federal	$	42,898	$	29,525	$	39,727
Foreign	5,349		2,635		3,246
Income before income taxes	$	48,247	$	32,160	$	42,973

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



For the year ended:	Current		Deferred			Total
March 31, 2018
U.S. Federal	$	9,083	$	1,915		$	10,998
State and local	3,281		398			3,679
Foreign	1,303		(415		)	888
Provision for income taxes	$	13,667	$	1,898		$	15,565
March 31, 2017
U.S. Federal	$	8,313	$	3,384		$	11,697
State and local	1,726		417			2,143
Foreign	1,201		(681		)	520
Provision for income taxes	$	11,240	$	3,120		$	14,360
March 31, 2016
U.S. Federal	$	9,560	$	7,645		$	17,205
State and local	1,348		(127		)	1,221
Foreign	914		(174		)	740
Provision for income taxes	$	11,822	$	7,344		$	19,166

Income tax expense differed from the amounts computed by applying the U.S. federal statutory income tax rate of 31.5% to income from continuing operations before income taxes as a result of the following (in thousands):



	March 31,
	2018			2017			2016
Computed tax expense at statutory rate	$	15,198		$	11,256		$	15,041
Increase (reduction) in income taxes resulting from:
Uncertain tax positions	269			1,593			1,277
State and local income taxes, net of federal benefits	1,304			1,529			1,049
Domestic production activity deduction	(1,238		)	(545		)	(420		)
Other permanent differences	(520		)	646			1,373
Foreign rate differential	(414		)	(444		)	(642		)
Impact of reduction of federal tax rate	(1,011		)	—			(107		)
Federal Repatriation Tax, net of tax credit	1,891			—			—
Other, net	86			325			1,595
Provision for income taxes continuing operations	$	15,565		$	14,360		$	19,166

The effective tax rates for the fiscal years ended March 31, 2018, 2017 and 2016 were 32.3%, 44.7% and 44.6%, respectively. The current year tax rate was lower, compared to the prior years, as a result of a decrease in the federal statutory rate, the release of FIN 48 for state voluntary disclosure agreements and a decrease in state and local income taxes. Other items impacting the effective tax rate include federal repatriation tax under the new U.S. tax reform and an increase in the domestic production activity deduction.

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



	March 31,
	2018			2017
Deferred tax assets:
Accrued expenses	$	106		$	2
Net operating loss carryforwards	167			565
Inventory reserves	837			1,876
Pension and other employee benefits	863			3,289
Accrued compensation	1,693			2,621
Impairment	10,933			—
Other, net	883			1,485
Deferred tax assets	15,482			9,838
Valuation allowance	(64		)	(107		)
Deferred tax assets, net of valuation allowance	15,418			9,731
Deferred tax liabilities:
Property, plant and equipment	$	(4,913	)	$	(6,719	)
Goodwill and intangible assets	(4,465		)	(5,313		)
Deferred gain	(461		)	(783		)
Other, net	(303		)	(6		)
Deferred tax liabilities	(10,142		)	(12,821		)
Net deferred tax assets (liabilities)	$	5,276		$	(3,090	)

As of March 31, 2018 and 2017, we had $0.2 million and $0.6 million, respectively, in tax effected net operating loss carryforwards. Net operating loss carryforwards will expire in periods beyond the next 5 years.

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



	March 31,
	2018			2017
Balance at beginning of year	$	2,025		$	900
Increases related to prior year tax positions	316			916
Increases related to current year tax positions	284			730
Settlement	(746		)	(521		)
Balance at end of year	$	1,879		$	2,025

We have accrued interest and penalties on uncertain tax positions of $0.1 million and $0.2 million, respectively, for the year ended March 31, 2018 and $0.2 million and $0.2 million, respectively, for the years ended March 31, 2017 and 2016. We are currently under examination for the fiscal year ended March 31, 2016 for U.S. federal income taxes. We are not under examination by any U.S. state income taxing authority. Our federal income tax returns for the year ended September 30, 2015 and subsequent years remain subject to examination. Our income tax returns in certain state income tax jurisdictions remain subject to examination for various periods for the year ended September 30, 2015 and subsequent years.

Related Party Transactions	12 Months Ended
Related Party Transactions	Mar. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS We paid $0.1 million in consulting fees in each of the fiscal years ended March 31, 2018, 2017 and 2016 to a company owned by a member of our board of directors. The consulting agreement under which these fees were paid was terminated effective March 31, 2018. We paid $0.0, $0.0 and $0.2 million in management fees for the fiscal years ended March 31, 2018, 2017 and 2016, respectively, to a management company subsidiary of Capital Southwest for services rendered during each respective fiscal year. These amounts are presented in selling, general and administrative expenses in the consolidated statements of operations, and payments ceased in connection with the Share Distribution. We paid $0.0, $0.0 and $0.3 million in dividends to Capital Southwest during the fiscal years ended March 31, 2018, 2017 and 2016, respectively. Dividends paid in the fiscal year ended March 31, 2016 were paid prior to the Share Distribution, as Capital Southwest was our sole shareholder until the Share Distribution. As of fiscal year ended March 31, 2018 and 2017, 0 and 597,434 shares, respectively, of Capital Southwest stock were held under our ESOP. Tax Matters Agreement – We entered into a tax matters agreement with Capital Southwest (the “Tax Matters Agreement”). The Tax Matters Agreement generally governs our and Capital Southwest’s respective rights, responsibilities and obligations with respect to taxes in connection with the Share Distribution. The Tax Matters Agreement provides that we will be liable for taxes incurred by Capital Southwest as a result of our taking or failing to take certain actions that result in the Share Distribution failing to meet the requirements of a tax-free distribution under the Internal Revenue Code. The Tax Matters Agreement also restricts our and Capital Southwest’s ability to take actions that could cause the Share Distribution to fail to meet the requirements of a tax-free distribution under the Code. These restrictions may prevent us and Capital Southwest from entering into transactions that might be advantageous to us or our stockholders. The term of the Tax Matters Agreement is perpetual, unless the agreement is terminated by mutual consent of both parties. Employee Matters Agreement – We entered into an employee matters agreement with Capital Southwest prior to the Distribution Date (the “Employee Matters Agreement”). The Employee Matters Agreement allocates liabilities and responsibilities between us and Capital Southwest relating to employee compensation and benefit plans and programs, including the treatment of certain employment agreements, outstanding annual and long-term incentive awards, and health and welfare benefit obligations and provide for the cooperation between us and Capital Southwest in the sharing of employee information. In general, following the Share Distribution, we are responsible for all employment and benefit-related obligations and liabilities related to those individuals employed by Capital Southwest or one of the contributed businesses prior to the Share Distribution and whose employment was transferred to us in connection with the Share Distribution. In general, Capital Southwest is responsible for any employment and benefit-related obligations and liabilities of any employees who continue to be employees of Capital Southwest following the Share Distribution. The term of the Employee Matters Agreement is perpetual, unless the agreement is terminated by mutual consent of both parties.

Contingencies	12 Months Ended
Contingencies	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Contingencies	CONTINGENCIES From time to time, we are involved in various claims and legal actions which arise in the ordinary course of business. There are not any matters pending that we currently believe are reasonably possible of having a material impact to our business, consolidated financial position, results of operations or cash flows.

Other Comprehensive Income (Loss)

12 Months Ended

Mar. 31, 2018

Equity [Abstract]

Other Comprehensive Income (Loss)

OTHER COMPREHENSIVE INCOME (LOSS)

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



	Fiscal Years Ended March 31,
	2018			2017
Currency translation adjustments:
Balance at beginning of period	$	(8,132	)	$	(5,248	)
Adjustments for foreign currency translation	3,295			(2,884		)
Balance at end of period	$	(4,837	)	$	(8,132	)
Interest rate swaps:
Balance at beginning of period	$	(402	)	$	(1,221	)
Unrealized gains, net of taxes of $(67) and $(261), respectively (a)	193			485
Reclassification of losses included in interest expense, net of taxes of $(34) and $(180), respectively	101			334
Other comprehensive income	294			819
Balance at end of period	$	(108	)	$	(402	)
Defined benefit plans:
Balance at beginning of period	$	(1,901	)	$	(1,229	)
Amortization of net prior service benefit, net of taxes of $2 and $(2), respectively (b)	(5		)	3
Amortization of net loss, net of taxes of $(12) and $(7), respectively (b)	26			17
Net loss arising during the year, net of taxes of $347 and $42, respectively	(762		)	(63		)
Settlement recognition, net of taxes of $107 and $0, respectively	232			—
Other adjustment, net of taxes of $0 and $276, respectively (c)	(107		)	(644		)
Currency translation impact	(13		)	15
Other comprehensive loss	(629		)	(672		)
Balance at end of period	$	(2,530	)	$	(1,901	)


(a)	Unrealized gains are reclassified to earnings as underlying cash interest payments are made. We expect to recognize a loss of less than $0.1 million, net of deferred taxes, over the next twelve months related to a designated cash flow hedge based on its fair value as of March 31, 2018.


(b)	Amortization of prior service costs and actuarial losses out of accumulated other comprehensive loss are included in the computation of net periodic pension expense. See Note 13 for additional information.


(c)	The other adjustment as of March 31, 2018, relates to the change in the effective tax rate. The other adjustment for the fiscal year ended March 31, 2017 was to recognize an adjustment, net of tax, to accumulated other comprehensive income associated with the Canadian Plan.

Segments

12 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Segments

SEGMENTS

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


•	Industrial Products; and


•	Specialty Chemicals.

The following is a summary of the financial information of our reporting segments reconciled to the amounts reported in the consolidated financial statements (in thousands). Historical segment information has been retrospectively adjusted to reflect the decision to divest the Coatings business.



Year ended March 31, 2018
	Industrial Products		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other			Total
Revenues, net	$	186,483	$	139,735	$	326,218	$	4		$	326,222
Operating income	43,984		18,427		62,411		(11,697		)	50,714
Depreciation and amortization	7,586		6,679		14,265		668			14,933



Year ended March 31, 2017
	Industrial Products		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other			Total
Revenues, net	$	158,654	$	128,714	$	287,368	$	92		$	287,460
Operating income	32,893		13,508		46,401		(13,275		)	33,126
Depreciation and amortization	6,963		6,418		13,381		373			13,754



Year ended March 31, 2016
	Industrial Products		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other			Total
Revenues, net	$	138,594	$	128,051	$	266,645	$	272		$	266,917
Operating income	31,075		22,110		53,185		(6,990		)	46,195
Depreciation and amortization	6,530		5,140		11,670		68			11,738

During the year ended March 31, 2018, we recorded restructuring charges of $0.2 million in our Industrial Products segment. As noted in Note 1, the program was complete as of March 31, 2018. During the year ended March 31, 2017, we recorded restructuring charges of $0.4 million in our Industrial Products segment.

During the year ended March 31, 2016, we recorded pension plan curtailment benefits of $3.2 million and $4.8 million in our Industrial Products and Specialty Chemicals segments, respectively.



Total Assets
	Industrial Products		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other		Total
March 31, 2018	$	170,847	$	143,733	$	314,580	$	26,236	$	340,816
March 31, 2017	171,147		208,126		379,273		19,154		398,427
March 31, 2016	154,583		227,166		381,749		10,922		392,671

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

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



	For the Years Ended March 31,
	2018				2017				2016
U.S.	$	268,201	82.2	%	$	239,657	83.4	%	$	205,027	76.8	%
Non-U.S. (a)	58,021		17.8	%	47,803		16.6	%	61,890		23.2	%
Revenues, net	$	326,222	100.0	%	$	287,460	100.0	%	$	266,917	100.0	%


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



	As of March 31,
	2018				2017				2016
U.S.	$	178,010	86.6	%	$	185,472	87.1	%	$	180,148	93.3	%
Non-U.S.	27,603		13.4	%	27,526		12.9	%	12,990		6.7	%
Long-lived assets (a)	$	205,613	100.0	%	$	212,998	100.0	%	$	193,138	100.0	%


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

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

Quarterly Financial Data (Unaudited)

12 Months Ended

Mar. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (Unaudited)

QUARTERLY FINANCIAL DATA (UNAUDITED)

The following presents a summary of the unaudited quarterly data for the fiscal years ended March 31, 2018 and 2017 (amounts in millions, except per share data):



	Fiscal Year Ended March 31, 2018
Quarter	4th			3rd			2nd			1st
Revenues, net	$	83.5		$	69.0		$	84.4		$	89.3
Gross profit	36.1			30.2			39.7			41.9
Income before income taxes	9.8			7.8			14.5			16.1
Income from continuing operations	10.6			2.6			9.2			10.3
Loss from discontinued operations	(4.3		)	(36.7		)	(1.8		)	(1.8		)
Net income (loss)	6.3			(34.0		)	7.3			8.5
Basic earnings (loss) per common share (a):
Continuing operations	$	0.68		$	0.17		$	0.58		$	0.65
Discontinued operations	(0.28		)	(2.34		)	(0.12		)	(0.12		)
Net income (loss)	$	0.40		$	(2.17	)	$	0.46		$	0.53

Diluted earnings (loss) per common share (a):
Continuing operations	$	0.68		$	0.17		$	0.57		$	0.65
Discontinued operations	(0.28		)	(2.34		)	(0.11		)	(0.12		)
Net income (loss)	$	0.40		$	(2.17	)	$	0.46		$	0.53



	Fiscal Year Ended March 31, 2017
Quarter	4th			3rd			2nd			1st
Revenues, net	$	76.4		$	65.3		$	70.9		$	74.9
Gross profit	30.4			27.4			34.9			36.2
Income before income taxes	5.8			5.0			12.5			8.9
Income from continuing operations	3.3			1.9			7.3			5.3
Loss from discontinued operations	(0.5		)	(1.5		)	(3.5		)	(1.2		)
Net income (loss)	2.8			0.4			3.8			4.1
Basic earnings (loss) per common share (a):
Continuing operations	$	0.21		$	0.12		$	0.47		$	0.34
Discontinued operations	(0.04		)	(0.09		)	(0.23		)	(0.08		)
Net income	$	0.17		$	0.03		$	0.24		$	0.26

Diluted earnings (loss) per common share (a):
Continuing operations	$	0.21		$	0.12		$	0.47		$	0.33
Discontinued operations	(0.04		)	(0.09		)	(0.23		)	(0.07		)
Net income	$	0.17		$	0.03		$	0.24		$	0.26


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

Significant pre-tax adjustments recorded in the quarter ended March 31, 2018 included severance for our chief operating officer ($0.4 million). Significant pre-tax adjustments recorded in the fourth quarter ended March 31, 2017 included restructuring and realignment ($3.4 million), implementation costs related to design of our internal controls framework ($0.5 million), transaction costs incurred related to our acquisition of Greco ($0.4 million) and trademark impairments ($0.2 million).

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

12 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

The Share Distribution

Restructuring

Basis of Presentation

Use of Estimates


•	Timing and amount of revenue recognition;


•	Deferred taxes and tax reserves;


•	Pension benefits; and


•	Valuation of goodwill and indefinite-lived intangible assets.

Cash and Cash Equivalents

Bank Time Deposits

Allowance for Doubtful Accounts

Inventories and Related Reserves

Property, Plant and Equipment

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

Valuation of Goodwill

Intangible Assets

Property Held for Investment

Deferred Loan Costs

Fair Values of Financial Instruments

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

Derivative Instruments and Hedge Accounting

Pension Obligations

•

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

Revenue Recognition

Research and Development

Share-based Compensation

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

We recognize income tax related interest and penalties, if any, as a component of income tax expense.

Unremitted Earnings

Uncertain Tax Positions

Earnings Per Share

Foreign Currency Translation

Discontinued Operations and Segment Realignment


•	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 includes 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.

Accounting Developments

•


•	While we have not yet completed all of the computations necessary or completed a detailed inventory of our expenditures that qualify for immediate expensing, we have recorded a provisional benefit based on our current intent to fully expense all qualifying expenditures.

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

12 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Restructuring and Related Costs

Restructuring charges are as follows:



(in thousands)	Severance/ Retention		Asset Write-down		Other (a)		Total
For the year ended March 31, 2018
Cost of revenues	$	—	$	69	$	163	$	232
Selling, general and administrative expense	—		—		—		—
Total	$	—	$	69	$	163	$	232
Inception to Date Restructuring Charges
Cost of revenues	$	291	$	69	$	496	$	856
Selling, general and administrative expense	—		—		—		—
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. These charges were expensed as incurred.

Schedule of Estimated Useful Lives

Generally, the estimated useful lives of assets are:



Land improvements	5	to	40 years
Buildings and improvements	7	to	40 years
Plant, office and lab equipment	5	to	10 years

Discontinued Operations (Tables)

12 Months Ended

Mar. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Discontinued Operations

Summarized selected financial information for Strathmore for the fiscal years ended March 31, 2018, 2017 and 2016, is presented in the following table:



	Fiscal Years Ended March 31,
(in thousands)	2018			2017			2016
Revenues, net	$	23,153		$	39,624		$	52,688
Impairment expense	(46,007		)	(2,800		)	—
(Loss) income from discontinued operations before income taxes	(61,164		)	(10,616		)	1,253
Income tax benefit	16,600			3,887			411
(Loss) income from discontinued operations	$	(44,564	)	$	(6,729	)	$	1,664

The assets and liabilities of discontinued operations are stated separately as of March 31, 2018 and 2017, respectively, in the consolidated balance sheets and are comprised of the following items:



	Fiscal Years Ended March 31,
(in thousands)	2018		2017
Assets
Accounts receivable, net	$	2,259	$	3,951
Inventories, net	—		6,736
Prepaid expenses and other current assets (a)	168		1,219
Total current assets	2,427		11,906
Property, plant and equipment, net	—		7,085
Intangible assets	—		31,298
Other	—		—
Total non-current assets	—		38,383
Total assets	$	2,427	$	50,289

Liabilities
Accounts payable, accrued and other expenses	$	3,966	$	5,184

(a)

- 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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=84176398&loc=SL51724579-110230

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84176398&loc=d3e2941-110230

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760

+ Details

Goodwill and Intangible Assets (Tables)

12 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for the fiscal years ended March 31, 2018 and 2017 were as follows (in thousands):



	Industrial Products			Specialty Chemicals		Total
Balance at March 31, 2016	$	36,194		$	31,563	$	67,757
Acquisition of Greco	13,619			—		13,619
Currency translation	(513		)	—		(513		)
Balance at March 31, 2017	$	49,300		$	31,563	$	80,863
Purchase price adjustment for Greco	152			—		152
Currency translation	749			—		749
Balance at March 31, 2018	$	50,201		$	31,563	$	81,764

Schedule of Intangible Assets

The following table provides information about out intangible assets for the fiscal years ended March 31, 2018 and 2017 (in thousands, except years):



		March 31, 2018					March 31, 2017
	Wtd Avg Life (Years)	Ending Gross Amount		Accumulated Amortization			Ending Gross Amount		Accumulated Amortization
Finite-lived intangible assets:
Patents (a)	11	$	9,489	$	(5,564	)	$	9,576	$	(4,779	)
Customer lists and amortized trademarks	12	58,161		(24,812		)	57,421		(19,523		)
Non-compete agreements	5	1,713		(762		)	1,469		(194		)
Other	10	5,016		(1,529		)	4,849		(828		)
		$	74,379	$	(32,667	)	$	73,315	$	(25,324	)
Trade names and trademarks not being amortized:		$	11,342	$	—		$	11,321	$	—


(a)	During the fiscal years ended March 31, 2018 and 2017, we wrote off $0.0 and $4.0 million of intangible assets that were fully amortized.

Schedule of Estimated Future Amortization For Intangible Assets

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



2019	$	5,766
2020	5,530
2021	4,637
2022	4,463
2023	3,885

Share-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2018

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

Schedule of Share-Based Compensation

We recorded share-based compensation as follows for the fiscal years ended March 31, 2018, 2017 and 2016:



	Fiscal Year Ended March 31, 2018
(in thousands)	Stock Options			Restricted Stock			Total
Share-based compensation expense	$	178		$	3,482		$	3,660
Related income tax benefit	(56		)	(1,097		)	(1,153		)
Net share-based compensation expense	$	122		$	2,385		$	2,507



	Fiscal Year Ended March 31, 2017
(in thousands)	Stock Options			Restricted Stock			Total
Share-based compensation expense	$	473		$	2,341		$	2,814
Related income tax benefit	(166		)	(819		)	(985		)
Net share-based compensation expense	$	307		$	1,522		$	1,829



	Fiscal Year Ended March 31, 2016
(in thousands)	Stock Options			Restricted Stock			Total
Share-based compensation expense	$	206		$	750		$	956
Related income tax benefit	(72		)	(263		)	(335		)
Net share-based compensation expense	$	134		$	487		$	621

Schedule of Stock Options Activity

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



	Fiscal Year Ended March 31, 2018
	Number of Shares		Weighted Average Exercise Price		Remaining Contractual Life (Years)	Aggregate Intrinsic Value (in Millions)
Outstanding at April 1, 2017	251,635		$	24.44
Exercised	(19,918	)	16.51
Outstanding at March 31, 2018	231,717		$	25.12	6.2	$	4.6
Exercisable at March 31, 2018	219,767		$	25.14	6.2	$	4.4



	Fiscal Year Ended March 31, 2017
	Number of Shares		Weighted Average Exercise Price		Remaining Contractual Life (Years)	Aggregate Intrinsic Value (in Millions)
Outstanding at April 1, 2016	362,513		$	24.53
Exercised	(85,981	)	25.23
Canceled	(24,897	)	23.11
Outstanding at March 31, 2017	251,635		$	24.44	6.9	$	3.1
Exercisable at March 31, 2017	170,412		$	24.12	6.7	$	2.1

Schedule of Restricted Stock Activity

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



	Number of Shares		Weighted Average Grant Date Fair Value
Outstanding at April 1, 2017	209,489		$	28.20
Granted	122,919		46.24
Vested	(89,708	)	23.75
Canceled	(27,681	)	38.53
Outstanding at March 31, 2018	215,019		$	37.41

Details of Certain Consolidated Balance Sheet Captions (Tables)

12 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Accounts Receivable

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



	March 31,
	2018			2017
Accounts receivable trade	$	62,494		$	59,299
Other receivables	1,904			1,998
	64,398			61,297
Less: Allowance for doubtful accounts	(1,015		)	(1,466		)
Accounts receivable, net	$	63,383		$	59,831

Schedule of Inventories

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



	March 31,
	2018			2017
Raw materials and supplies	$	21,855		$	18,960
Work in process	3,756			6,271
Finished goods	24,561			25,535
Total inventories	50,172			50,766
Less: LIFO reserve	(5,511		)	(5,295		)
Less: Obsolescence reserve	(1,687		)	(1,806		)
Inventories, net	$	42,974		$	43,665

Schedule of Property, Plant and Equipment

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



	March 31,
	2018			2017
Land and improvements	$	3,365		$	3,357
Buildings and improvements	44,341			43,705
Plant, office and laboratory equipment	66,230			62,563
Construction in progress	2,504			3,189
	116,440			112,814
Less: Accumulated depreciation	(61,967		)	(56,002		)
Property, plant and equipment, net	$	54,473		$	56,812

Schedule of Other Assets

Other assets consist of the following (in thousands):



	March 31,
	2018		2017
Property held for investment (a)	$	8,863	$	9,208
Deferred income taxes	7,636		—
Retirement assets in excess of benefit obligations	3,334		2,954
Other	4,125		3,849
Other assets	$	23,958	$	16,011


(a)	As of March 31, 2018 and 2017, $6.2 million and $6.2 million in assets were held for sale, respectively, in the "Elimination and Other" segment.

Schedule of Accrued and Other Current Expenses

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



	March 31,
	2018		2017
Compensation and related benefits	$	12,839	$	11,668
Rebates and marketing agreements	2,892		2,435
Non-income taxes	741		814
Income taxes payable	768		868
Other accrued expenses	6,261		6,597
Accrued and other current liabilities	$	23,501	$	22,382

Schedule of Other Liabilities

Other long-term liabilities consists of the following (in thousands):



	March 31,
	2018		2017
Contingent consideration	$	—	$	6,390
Deferred income taxes	2,360		3,090
Other	2,361		3,900
Other long-term liabilities	$	4,721	$	13,380

Long-Term Debt (Tables)

12 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Schedule of Long-Term Debt

Debt consists of the following (in thousands):



	March 31,
	2018			2017
Revolving Credit Facility, interest rate of 3.13% and 2.23%, respectively	$	12,000		$	60,625
Whitmore term loan, interest rate of 3.88% and 2.98%, respectively	12,020			12,582
Total debt	24,020			73,207
Less: Current portion	(561		)	(561		)
Long-term debt	$	23,459		$	72,646

Aggregate Maturities of Long-Term Debt

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



2019	$	561
2020	561
2021	561
2022	561
2023	12,561
Thereafter	9,215
Total	$	24,020

Summary of Future Minimum Lease Payments

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



2019	$	2,344
2020	2,106
2021	1,865
2022	876
2023	384
Thereafter	3,118
Total	$	10,693

Derivative Instruments and Hedge Accounting (Tables)

12 Months Ended

Mar. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Interest Rate Swaps Designated as Hedging Instruments

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



	March 31,
	2018		2017
Current derivative liabilities	$	88	$	199
Non-current derivative liabilities	134		420

Earnings Per Share (Tables)

12 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Reconciliation of 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 fiscal years ended March 31, 2018, 2017 and 2016:



	Fiscal Years Ended March 31,
(amounts in thousands, except per share data)	2018			2017			2016
Income from continuing operations	$	32,682		$	17,800		$	23,807
(Loss) income from discontinued operations	(44,564		)	(6,729		)	1,664
Net (loss) income	$	(11,882	)	$	11,071		$	25,471
Weighted average shares:
Common stock	15,671			15,555			15,443
Participating securities	—			218			182
Denominator for basic earnings per common share	15,671			15,773			15,625
Potentially dilutive securities (a)	—			66			50
Denominator for diluted earnings per common share	15,671			15,839			15,675

Basic earnings (loss) per common share:
Continuing operations	$	2.09		$	1.13		$	1.52
Discontinued operations	(2.85		)	(0.43		)	0.11
Net (loss) income	$	(0.76	)	$	0.70		$	1.63

Diluted earnings (loss) per common share:
Continuing operations	$	2.09		$	1.12		$	1.52
Discontinued operations	(2.85		)	(0.42		)	0.10
Net (loss) income	$	(0.76	)	$	0.70		$	1.62


(a)	As a result of the net loss for the year ended March 31, 2018, we excluded 180,906 of unvested Restricted Shares from the calculation of diluted EPS due to their anti-dilutive effect. No shares were excluded as being anti-dilutive for the fiscal years ended March 31, 2017 or 2016.

Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value, Liabilities Measured on Recurring Basis

The following table sets forth the changes in fair value of contingent consideration recognized within the selling, general and administrative expenses of our consolidated statements of operations:



(in millions)	Deacon			SureSeal			Total
Balance at April 1, 2016	$	0.4		$	5.5		$	5.9
Change due to accretion	—			0.7			0.7
Change in estimate	(0.4		)	0.2			(0.2		)
Balance at March 31, 2017	$	—		$	6.4		$	6.4
Change in estimate	—			0.1			0.1
Payment of contingent consideration	—			(6.5		)	(6.5		)
Balance at March 31, 2018	$	—		$	—		$	—

Retirement Plans (Tables)

12 Months Ended

Mar. 31, 2018

Retirement Benefits [Abstract]

Summary of Assumptions Related to Retirement Plan

The following are assumptions related to the Plans:



	March 31,
	2018		2017		2016
Assumptions used to determine benefit obligations:
Discount rate	3.98	%	4.23	%	4.50	%
Rate of compensation increases	3.00	%	3.00	%	(a)
Assumptions used to determine net pension expense:
Discount rate	4.23	%	4.50	%	4.25	%
Expected return on plan assets	6.18	%	6.19	%	7.00	%
Rate of compensation increases	3.00	%	3.00	%	(a)


(a)	Rate of compensation increase is no longer relevant to the Qualified Plan or Restoration Plan due to freezing benefit accruals. The rate of compensation increase on the Canadian Plan is 3.0%.

Schedule of Pension Plan

Net pension (benefit) expense for the Plans was:



	March 31,
(in thousands)	2018			2017			2016
Service cost – benefits earned during the year	$	58		$	94		$	2,069
Interest cost on projected benefit obligation	2,515			2,637			2,739
Expected return on assets	(3,927		)	(3,723		)	(3,226		)
Net amortization and deferral	30			30			9
Settlement expense	339			—			—
Curtailment benefit	—			—			(8,020		)
Other adjustment	—			(24		)	—
Net pension (benefit) expense	$	(985	)	$	(986	)	$	(6,429	)

Summary of Changes in Pension Obligations

The following is a summary of the changes in the Plans' pension obligations:



	March 31,
(in thousands)	2018			2017
Benefit obligation at beginning of year	$	61,434		$	60,561
Service cost	58			94
Interest cost	2,515			2,637
Actuarial loss	(73		)	(2,091		)
Benefits paid	(2,299		)	(2,514		)
Settlements (b)	(7,252		)	—
Other adjustment (a)	—			2,815
Currency translation impact	78			(68		)
Benefit obligation at end of year	$	54,461		$	61,434
Accumulated benefit obligation	$	54,197		$	61,132


(a)	Reflects amounts associated with the plan assets and obligations of the Canadian Plan that were previously omitted from aggregate pension disclosures due to immateriality.

(b) Reflects lump-sum payments to terminated vested participants.

Summary of Reconciliation of Plan's Assets

The following is a reconciliation of the Plans' assets:



	March 31,
(in thousands)	2018			2017
Fair value of plan assets at beginning of year	$	62,271		$	60,878
Actual return on plan assets	2,704			1,523
Benefits paid	(2,193		)	(2,420		)
Company contributions	80			83
Settlements (b)	(7,252		)	—
Other adjustment (a)	—			2,263
Currency translation impact	65			(56		)
Fair value of plan assets at end of year	$	55,675		$	62,271


(a)	Reflects amounts associated with the plan assets and obligations of the Canadian Plan that were previously omitted from aggregate pension disclosures due to immateriality.


(b)	Reflects lump-sum payments to terminated vested participants.

Summary of Net Pension Asset (Liability) for Retirement Plan

The following summarizes the net pension asset for the Plans:



	March 31,
(in thousands)	2018			2017
Plan assets at fair value	$	55,675		$	62,271
Benefit obligation	(54,461		)	(61,434		)
Funded status	$	1,214		$	837

Summary of Amounts Recognized in Balance Sheet

The following summarizes amounts recognized in the balance sheets for the Plans:



	March 31,
(in thousands)	2018			2017
Noncurrent assets	$	3,334		$	2,955
Current liabilities	(103		)	(654		)
Noncurrent liabilities	(2,017		)	(1,464		)
Funded status	$	1,214		$	837

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

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



	March 31,
(in thousands)	2018			2017
Accumulated other comprehensive loss at beginning of year	$	(1,901	)	$	(1,229	)
Amortization of net loss	26			17
Amortization of prior service credit	(5		)	3
Settlements (b)	232			—
Net loss arising during the year	(762		)	(63		)
Other adjustment (a)	(107		)	(644		)
Currency translation impact	(13		)	15
Accumulated other comprehensive loss at end of year	$	(2,530	)	$	(1,901	)


(a)	For fiscal year ended March 31, 2017, amounts are to recognize an adjustment, net of tax, to accumulated other comprehensive loss associated with the Canadian Plan.


(b)	Reflects impact of lump-sum payments to terminated vested participants.

Schedule of Plan Asset Allocations

The actual asset allocations for the Plans are as follows:



	March 31,
Asset category	2018		2017
Equity securities	15	%	17	%
Fixed income securities	79	%	78	%
Other	5	%	4	%
Cash and cash equivalents	1	%	1	%
Total	100	%	100	%

The Plans' assets, shown below, are presented at fair value, as described in Note 1. The fair values of our Plans' assets were:



	March 31, 2018								March 31, 2017
(in thousands)			Hierarchical Levels								Hierarchical Levels
Asset category	Total		I		II		III		Total		I		II		III
Equity securities (a)	$	8,731	$	264	$	8,467	$	—	$	10,850	$	333	$	10,517	$	—
Fixed income securities (b)	43,810		—		43,810		—		48,312		—		48,312		—
Other (c)	2,753		424		2,329		—		2,760		493		2,267		—
Cash and cash equivalents	381		381		—		—		349		349		—		—
Total	$	55,675	$	1,069	$	54,606	$	—	$	62,271	$	1,175	$	61,096	$	—


(a)	This category includes investment in equity securities of large, medium and small companies and equity investments in foreign companies. Mutual funds included in this category are valued using the net asset value per unit as of the valuation date.


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


(c)	This category includes investments in commodity linked and real estate funds within the U.S. and investments in funds that invest in a combination of U.S. and non-U.S. equity and Canadian fixed income securities.

Summary of Expected Cash Benefit Payments

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



2019	$	2.6
2020	2.7
2021	2.8
2022	2.9
2023	3.0
Thereafter	15.9

Income Taxes (Tables)

12 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes

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



	March 31,
	2018		2017		2016
U.S. Federal	$	42,898	$	29,525	$	39,727
Foreign	5,349		2,635		3,246
Income before income taxes	$	48,247	$	32,160	$	42,973

Schedule of Income Tax Expense

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



For the year ended:	Current		Deferred			Total
March 31, 2018
U.S. Federal	$	9,083	$	1,915		$	10,998
State and local	3,281		398			3,679
Foreign	1,303		(415		)	888
Provision for income taxes	$	13,667	$	1,898		$	15,565
March 31, 2017
U.S. Federal	$	8,313	$	3,384		$	11,697
State and local	1,726		417			2,143
Foreign	1,201		(681		)	520
Provision for income taxes	$	11,240	$	3,120		$	14,360
March 31, 2016
U.S. Federal	$	9,560	$	7,645		$	17,205
State and local	1,348		(127		)	1,221
Foreign	914		(174		)	740
Provision for income taxes	$	11,822	$	7,344		$	19,166

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



	March 31,
	2018			2017			2016
Computed tax expense at statutory rate	$	15,198		$	11,256		$	15,041
Increase (reduction) in income taxes resulting from:
Uncertain tax positions	269			1,593			1,277
State and local income taxes, net of federal benefits	1,304			1,529			1,049
Domestic production activity deduction	(1,238		)	(545		)	(420		)
Other permanent differences	(520		)	646			1,373
Foreign rate differential	(414		)	(444		)	(642		)
Impact of reduction of federal tax rate	(1,011		)	—			(107		)
Federal Repatriation Tax, net of tax credit	1,891			—			—
Other, net	86			325			1,595
Provision for income taxes continuing operations	$	15,565		$	14,360		$	19,166

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

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



	March 31,
	2018			2017
Deferred tax assets:
Accrued expenses	$	106		$	2
Net operating loss carryforwards	167			565
Inventory reserves	837			1,876
Pension and other employee benefits	863			3,289
Accrued compensation	1,693			2,621
Impairment	10,933			—
Other, net	883			1,485
Deferred tax assets	15,482			9,838
Valuation allowance	(64		)	(107		)
Deferred tax assets, net of valuation allowance	15,418			9,731
Deferred tax liabilities:
Property, plant and equipment	$	(4,913	)	$	(6,719	)
Goodwill and intangible assets	(4,465		)	(5,313		)
Deferred gain	(461		)	(783		)
Other, net	(303		)	(6		)
Deferred tax liabilities	(10,142		)	(12,821		)
Net deferred tax assets (liabilities)	$	5,276		$	(3,090	)

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

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



	March 31,
	2018			2017
Balance at beginning of year	$	2,025		$	900
Increases related to prior year tax positions	316			916
Increases related to current year tax positions	284			730
Settlement	(746		)	(521		)
Balance at end of year	$	1,879		$	2,025

Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Mar. 31, 2018

Equity [Abstract]

Analysis of Changes in Accumulated Other Comprehensive Income (Loss)

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



	Fiscal Years Ended March 31,
	2018			2017
Currency translation adjustments:
Balance at beginning of period	$	(8,132	)	$	(5,248	)
Adjustments for foreign currency translation	3,295			(2,884		)
Balance at end of period	$	(4,837	)	$	(8,132	)
Interest rate swaps:
Balance at beginning of period	$	(402	)	$	(1,221	)
Unrealized gains, net of taxes of $(67) and $(261), respectively (a)	193			485
Reclassification of losses included in interest expense, net of taxes of $(34) and $(180), respectively	101			334
Other comprehensive income	294			819
Balance at end of period	$	(108	)	$	(402	)
Defined benefit plans:
Balance at beginning of period	$	(1,901	)	$	(1,229	)
Amortization of net prior service benefit, net of taxes of $2 and $(2), respectively (b)	(5		)	3
Amortization of net loss, net of taxes of $(12) and $(7), respectively (b)	26			17
Net loss arising during the year, net of taxes of $347 and $42, respectively	(762		)	(63		)
Settlement recognition, net of taxes of $107 and $0, respectively	232			—
Other adjustment, net of taxes of $0 and $276, respectively (c)	(107		)	(644		)
Currency translation impact	(13		)	15
Other comprehensive loss	(629		)	(672		)
Balance at end of period	$	(2,530	)	$	(1,901	)


(a)	Unrealized gains are reclassified to earnings as underlying cash interest payments are made. We expect to recognize a loss of less than $0.1 million, net of deferred taxes, over the next twelve months related to a designated cash flow hedge based on its fair value as of March 31, 2018.


(b)	Amortization of prior service costs and actuarial losses out of accumulated other comprehensive loss are included in the computation of net periodic pension expense. See Note 13 for additional information.


(c)	The other adjustment as of March 31, 2018, relates to the change in the effective tax rate. The other adjustment for the fiscal year ended March 31, 2017 was to recognize an adjustment, net of tax, to accumulated other comprehensive income associated with the Canadian Plan.

Segments (Tables)

12 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Summary of Financial Information of Reporting Segments



Year ended March 31, 2018
	Industrial Products		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other			Total
Revenues, net	$	186,483	$	139,735	$	326,218	$	4		$	326,222
Operating income	43,984		18,427		62,411		(11,697		)	50,714
Depreciation and amortization	7,586		6,679		14,265		668			14,933



Year ended March 31, 2017
	Industrial Products		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other			Total
Revenues, net	$	158,654	$	128,714	$	287,368	$	92		$	287,460
Operating income	32,893		13,508		46,401		(13,275		)	33,126
Depreciation and amortization	6,963		6,418		13,381		373			13,754



Year ended March 31, 2016
	Industrial Products		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other			Total
Revenues, net	$	138,594	$	128,051	$	266,645	$	272		$	266,917
Operating income	31,075		22,110		53,185		(6,990		)	46,195
Depreciation and amortization	6,530		5,140		11,670		68			11,738



Total Assets
	Industrial Products		Specialty Chemicals		Subtotal – Reportable Segments		Eliminations and Other		Total
March 31, 2018	$	170,847	$	143,733	$	314,580	$	26,236	$	340,816
March 31, 2017	171,147		208,126		379,273		19,154		398,427
March 31, 2016	154,583		227,166		381,749		10,922		392,671

Schedule of Sales and Long-Lived Assets by Geographic Area

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



	For the Years Ended March 31,
	2018				2017				2016
U.S.	$	268,201	82.2	%	$	239,657	83.4	%	$	205,027	76.8	%
Non-U.S. (a)	58,021		17.8	%	47,803		16.6	%	61,890		23.2	%
Revenues, net	$	326,222	100.0	%	$	287,460	100.0	%	$	266,917	100.0	%


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



	As of March 31,
	2018				2017				2016
U.S.	$	178,010	86.6	%	$	185,472	87.1	%	$	180,148	93.3	%
Non-U.S.	27,603		13.4	%	27,526		12.9	%	12,990		6.7	%
Long-lived assets (a)	$	205,613	100.0	%	$	212,998	100.0	%	$	193,138	100.0	%


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

Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Mar. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Summary of Unaudited Quarterly Data

The following presents a summary of the unaudited quarterly data for the fiscal years ended March 31, 2018 and 2017 (amounts in millions, except per share data):



	Fiscal Year Ended March 31, 2018
Quarter	4th			3rd			2nd			1st
Revenues, net	$	83.5		$	69.0		$	84.4		$	89.3
Gross profit	36.1			30.2			39.7			41.9
Income before income taxes	9.8			7.8			14.5			16.1
Income from continuing operations	10.6			2.6			9.2			10.3
Loss from discontinued operations	(4.3		)	(36.7		)	(1.8		)	(1.8		)
Net income (loss)	6.3			(34.0		)	7.3			8.5
Basic earnings (loss) per common share (a):
Continuing operations	$	0.68		$	0.17		$	0.58		$	0.65
Discontinued operations	(0.28		)	(2.34		)	(0.12		)	(0.12		)
Net income (loss)	$	0.40		$	(2.17	)	$	0.46		$	0.53

Diluted earnings (loss) per common share (a):
Continuing operations	$	0.68		$	0.17		$	0.57		$	0.65
Discontinued operations	(0.28		)	(2.34		)	(0.11		)	(0.12		)
Net income (loss)	$	0.40		$	(2.17	)	$	0.46		$	0.53



	Fiscal Year Ended March 31, 2017
Quarter	4th			3rd			2nd			1st
Revenues, net	$	76.4		$	65.3		$	70.9		$	74.9
Gross profit	30.4			27.4			34.9			36.2
Income before income taxes	5.8			5.0			12.5			8.9
Income from continuing operations	3.3			1.9			7.3			5.3
Loss from discontinued operations	(0.5		)	(1.5		)	(3.5		)	(1.2		)
Net income (loss)	2.8			0.4			3.8			4.1
Basic earnings (loss) per common share (a):
Continuing operations	$	0.21		$	0.12		$	0.47		$	0.34
Discontinued operations	(0.04		)	(0.09		)	(0.23		)	(0.08		)
Net income	$	0.17		$	0.03		$	0.24		$	0.26

Diluted earnings (loss) per common share (a):
Continuing operations	$	0.21		$	0.12		$	0.47		$	0.33
Discontinued operations	(0.04		)	(0.09		)	(0.23		)	(0.07		)
Net income	$	0.17		$	0.03		$	0.24		$	0.26


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

Organization and Operations and Summary of Significant Accounting Policies - Additional Information (Detail) $ in Thousands	12 Months Ended
	Mar. 31, 2018 USD ($) Segment Brand	Mar. 31, 2017 USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ 233,650	$ 245,026
Number of business segments \| Segment	2
Highly respected industrial brands \| Brand	100
Revenue from percentage of completion method, less than 6% of annual net sales	6.00%
Accounting Standards Update 2014-09 \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Retained earnings	$ (700)
Accounting Standards Update 2016-09 \| Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of ASU 2016-09		$ 506
Book And Ship Sales \| Product Concentration Risk \| Net Revenues
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Concentration risk, percentage	95.00%

Organization and Operations and Summary of Significant Accounting Policies - Restructuring (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2018
Restructuring Cost and Reserve [Line Items]
Severance/ Retention	$ 400		$ 0
Asset Write-down			69
Other			163
Total restructuring charges		$ 3,400	232
Total expected restructuring charges	856		856
Cost of revenues
Restructuring Cost and Reserve [Line Items]
Severance/ Retention			0
Asset Write-down			69
Other			163
Total restructuring charges			232
Total expected restructuring charges	856		856
Selling, general and administrative expense
Restructuring Cost and Reserve [Line Items]
Severance/ Retention			0
Asset Write-down			0
Other			0
Total restructuring charges			0
Total expected restructuring charges	0		0
Severance/ Retention
Restructuring Cost and Reserve [Line Items]
Total expected restructuring charges	291		291
Severance/ Retention \| Cost of revenues
Restructuring Cost and Reserve [Line Items]
Total expected restructuring charges	291		291
Severance/ Retention \| Selling, general and administrative expense
Restructuring Cost and Reserve [Line Items]
Total expected restructuring charges	0		0
Asset Write-down
Restructuring Cost and Reserve [Line Items]
Total expected restructuring charges	69		69
Asset Write-down \| Cost of revenues
Restructuring Cost and Reserve [Line Items]
Total expected restructuring charges	69		69
Asset Write-down \| Selling, general and administrative expense
Restructuring Cost and Reserve [Line Items]
Total expected restructuring charges	0		0
Other
Restructuring Cost and Reserve [Line Items]
Total expected restructuring charges	496		496
Other \| Cost of revenues
Restructuring Cost and Reserve [Line Items]
Total expected restructuring charges	496		496
Other \| Selling, general and administrative expense
Restructuring Cost and Reserve [Line Items]
Total expected restructuring charges	$ 0		$ 0

Organization and Operations and Summary of Significant Accounting Policies - Cash and Deposits (Detail) - USD ($)	Mar. 31, 2018	Mar. 31, 2017
Bank time deposits	$ 0	$ 1,776,000
U.S.
Deposits in banks	4,000,000	400,000
Non-U.S.
Deposits in banks	$ 7,700,000	$ 22,200,000

Organization and Operations and Summary of Significant Accounting Policies - Inventories and Related Reserves (Detail)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Non-U.S. \| Geographic Concentration Risk \| Inventory
Concentration risk, percentage	9.00%	6.00%

Organization and Operations and Summary of Significant Accounting Policies - Schedule of Property, Plant and Equipment (Detail)	12 Months Ended
	Mar. 31, 2018
Minimum \| Land Improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	5 years
Minimum \| Buildings and Improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	7 years
Minimum \| Plant, Office and Lab Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	5 years
Maximum \| Land Improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	40 years
Maximum \| Buildings and Improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	40 years
Maximum \| Plant, Office and Lab Equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	10 years

Organization and Operations and Summary of Significant Accounting Policies - Intangible Assets (Detail) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Goodwill impairment loss		$ 0	$ 0	$ 0
Impairment of intangible assets	$ 200,000	$ 0	$ 200,000	$ 0

Organization and Operations and Summary of Significant Accounting Policies - Research and Development (Detail) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Selling, general and administrative expense
Research and development costs	$ 4.6	$ 4.8	$ 4.5

Acquisitions - Greco Aluminum Railings (Details) - USD ($) $ in Thousands		12 Months Ended
	Feb. 28, 2017	Mar. 31, 2018	Mar. 31, 2017
Business Acquisition [Line Items]
Goodwill, acquired during period		$ 152	$ 13,619
Greco Holdings, LLC
Business Acquisition [Line Items]
Purchase price, amount transferred	$ 28,200
Goodwill, acquired during period	13,800
Fair value of property, plant and equipment acquired	800
Fair value of inventory acquired	500
Fair value of deferred tax liabilities assumed	3,400
Greco Holdings, LLC \| Customer Lists
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 10,300
Assets acquired, amortization period	15 years
Greco Holdings, LLC \| Non-compete agreements
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 800
Assets acquired, amortization period	5 years
Greco Holdings, LLC \| Lease Agreements
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 100
Assets acquired, amortization period	9 years
Greco Holdings, LLC \| Trademarks
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 1,000

Acquisitions - AC Leak Freeze (Detail) - USD ($) $ in Thousands		12 Months Ended
	Dec. 16, 2015	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Business Acquisition [Line Items]
Purchase price, paid from cash		$ 0	$ 28,179	$ 97,236
AC Leak Freeze
Business Acquisition [Line Items]
Purchase price, paid from cash	$ 16,300
Excess of purchase price over fair value of identifiable assets acquired	5,700
Fair value of inventory acquired	700
AC Leak Freeze \| Customer Lists
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 8,100
Assets acquired, amortization period	10 years
AC Leak Freeze \| Non-compete agreements
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 200
Assets acquired, amortization period	5 years
AC Leak Freeze \| Trade Names and Trademarks
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 1,400

Acquisitions - Deacon Industries (Detail) - USD ($)		12 Months Ended
Acquisitions - Deacon Industries (Detail) - USD ($)	Oct. 01, 2015	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Business Acquisition [Line Items]
Purchase price, paid from available cash		$ 0	$ 28,179,000	$ 97,236,000
Contingent consideration liability recognized		$ 0	$ 6,390,000
Deacon
Business Acquisition [Line Items]
Purchase price, amount transferred	$ 12,600,000
Purchase price, funded from borrowings	11,000,000
Purchase price, paid from available cash	1,100,000
Contingent consideration liability recognized	500,000				$ 0
Excess of purchase price over fair value of identifiable assets acquired	4,100,000
Fair value of property, plant and equipment acquired	900,000
Fair value of inventory acquired	500,000
Deacon \| Customer Lists
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 2,900,000
Assets acquired, amortization period	15 years
Deacon \| Know How
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 2,600,000
Assets acquired, amortization period	10 years
Deacon \| Non-compete agreements
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 100,000
Assets acquired, amortization period	5 years
Deacon \| Trade Names and Trademarks
Business Acquisition [Line Items]
Fair value of the assets acquired	$ 1,100,000

Discontinued Operations - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Discontinued Operations, Held-for-sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment expense	$ 46,000	$ 46,007	$ 2,800	$ 0

Discontinued Operations - Income Statement (Details) - Discontinued Operations, Held-for-sale - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues, net		$ 23,153	$ 39,624	$ 52,688
Impairment expense	$ (46,000)	(46,007)	(2,800)	0
(Loss) income from discontinued operations before income taxes		(61,164)	(10,616)	1,253
Income tax benefit		16,600	3,887	411
(Loss) income from discontinued operations		$ (44,564)	$ (6,729)	$ 1,664

- 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	Mar. 31, 2018	Mar. 31, 2017
Assets
Total current assets	$ 2,427	$ 11,906
Total non-current assets	0	38,383
Discontinued Operations, Held-for-sale
Assets
Accounts receivable, net	2,259	3,951
Inventories, net	0	6,736
Prepaid expenses and other current assets	168	1,219
Total current assets	2,427	11,906
Property, plant and equipment, net	0	7,085
Intangible assets	0	31,298
Other	0	0
Total non-current assets	0	38,383
Total assets	2,427	50,289
Liabilities
Accounts payable, accrued and other expenses	$ 3,966	$ 5,184

Goodwill and Intangible Assets - Schedule of Changes in Carrying Amount of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Goodwill [Roll Forward]
Beginning balance	$ 80,863	$ 67,757
Acquisition	152	13,619
Currency translation	749	(513)
Ending balance	81,764	80,863
Industrial Products
Goodwill [Roll Forward]
Beginning balance	49,300	36,194
Acquisition	152	13,619
Currency translation	749	(513)
Ending balance	50,201	49,300
Specialty Chemicals
Goodwill [Roll Forward]
Beginning balance	31,563	31,563
Acquisition	0	0
Currency translation	0	0
Ending balance	$ 31,563	$ 31,563

Goodwill and Intangible Assets - Schedule of Intangible Assets (Detail) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Intangible Assets [Line Items]
Ending Gross Amount	$ 74,379,000	$ 73,315,000
Accumulated Amortization	(32,667,000)	(25,324,000)
Trade Names and Trademarks
Intangible Assets [Line Items]
Ending Gross Amount	$ 11,342,000	11,321,000
Patents
Intangible Assets [Line Items]
Wtd Avg Life (Years)	11 years
Ending Gross Amount	$ 9,489,000	9,576,000
Accumulated Amortization	$ (5,564,000)	(4,779,000)
Customer lists and amortized trademarks
Intangible Assets [Line Items]
Wtd Avg Life (Years)	12 years
Ending Gross Amount	$ 58,161,000	57,421,000
Accumulated Amortization	$ (24,812,000)	(19,523,000)
Non-compete agreements
Intangible Assets [Line Items]
Wtd Avg Life (Years)	5 years
Ending Gross Amount	$ 1,713,000	1,469,000
Accumulated Amortization	(762,000)	(194,000)
Write off of expired and fully amortized intangible assets	$ 0	4,000,000
Other
Intangible Assets [Line Items]
Wtd Avg Life (Years)	10 years
Ending Gross Amount	$ 5,016,000	4,849,000
Accumulated Amortization	$ (1,529,000)	$ (828,000)

Goodwill and Intangible Assets - Schedule of Estimated Future Amortization of Finite-lived Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 7,100	$ 6,100	$ 5,200
2019	5,766
2020	5,530
2021	4,637
2022	4,463
2023	$ 3,885

Spin-Off Executive Compensation (Detail) - USD ($) $ in Thousands				12 Months Ended			16 Months Ended
	Dec. 29, 2017	Dec. 29, 2016	Dec. 29, 2015	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016	Dec. 29, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense				$ 3,660	$ 2,814	$ 956
Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Executive compensation expense for the cash incentive payments				500	1,900	1,300
Stock compensation expense				$ 300	1,000	$ 300
Incentive cash payment accelerated compensation expense					1,200
Accelerated compensation cost					$ 1,000
Executive Officer \| Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of aggregate appreciation to be received							6.00%
Executive Officer \| Trigger Event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity based awards vest and become exercisable	33.00%	33.00%	33.00%

Share-Based Compensation - Additional Information (Detail)	1 Months Ended
	Sep. 30, 2015 installment shares	Mar. 31, 2018 shares
Stock Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares of common stock granted	1,230,000
Shares available for grant		929,459
Stock Compensation Plan \| Share Distribution
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued related to spin-off	510,447
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, expiration period	10 years
Number of annual installments, options exercisable \| installment	5
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awardees received additional shares for each share held	1
Minimum \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, expiration period	1 year
Share based compensation, vesting period	1 year
Maximum \| Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, expiration period	5 years
Share based compensation, vesting period	5 years

Share-Based Compensation - Schedule of Share-Based Compensation (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 3,660	$ 2,814	$ 956
Related income tax benefit	(1,153)	(985)	(335)
Net share-based compensation expense	2,507	1,829	621
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	178	473	206
Related income tax benefit	(56)	(166)	(72)
Net share-based compensation expense	122	307	134
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	3,482	2,341	750
Related income tax benefit	(1,097)	(819)	(263)
Net share-based compensation expense	$ 2,385	$ 1,522	$ 487

Share-Based Compensation - Stock Option Activity (Detail) - Stock Options - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Number of Shares
Number of Shares, Outstanding, Beginning balance	251,635	362,513
Number of Shares, Exercised	(19,918)	(85,981)
Number of Shares, Canceled		(24,897)
Number of Shares, Outstanding, Ending balance	231,717	251,635
Exercisable at end of period, Number of shares	219,767	170,412
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding, Beginning balance (USD per share)	$ 24.44	$ 24.53
Weighted Average Exercise Price, Exercised (USD per share)	16.51	25.23
Weighted Average Exercise Price, Canceled (USD per share)		23.11
Weighted Average Exercise Price, Outstanding, Ending balance (USD per share)	25.12	24.44
Exercisable at end of period, Exercise Price (USD per share)	$ 25.14	$ 24.12
Outstanding, Remaining Contractual Life	6 years 2 months 16 days	6 years 10 months 25 days
Exercisable, Remaining Contractual Life	6 years 2 months 30 days	6 years 8 months 12 days
Outstanding, Aggregate Intrinsic Value	$ 4.6	$ 3.1
Exercisable, Aggregate Intrinsic Value	$ 4.4	$ 2.1

Share-Based Compensation - Stock Option Activity, Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Proceeds from stock option activity	$ 328	$ 2,169	$ 96
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average vesting period	1 year
Stock options, number of shares, exercised	19,918	85,981
Exercises in period, intrinsic value	$ 500
Proceeds from stock option activity	300
Tax benefit from options exercised	200
Options vested in period, fair value	$ 200	$ 700	$ 500

Share-Based Compensation - Restricted Stock Activity (Detail) - Restricted Stock	12 Months Ended
	Mar. 31, 2018 $ / shares shares
Number of Shares
Number of Shares, Outstanding, Beginning balance \| shares	209,489
Number of Shares, Granted \| shares	122,919
Number of Shares, Vested \| shares	(89,708)
Number of Shares, Canceled \| shares	(27,681)
Number of Shares, Outstanding, Ending balance \| shares	215,019
Weighted Average Grant Date Fair Value
Weighted Average Grant Date Fair Value, Outstanding, Beginning balance (USD per share) \| $ / shares	$ 28.20
Weighted Average Grant Date Fair Value, Granted (USD per share) \| $ / shares	46.24
Weighted Average Grant Date Fair Value, Vested (USD per share) \| $ / shares	23.75
Weighted Average Grant Date Fair Value, Canceled (USD per share) \| $ / shares	38.53
Weighted Average Grant Date Fair Value, Outstanding, Ending balance (USD per share) \| $ / shares	$ 37.41

Share-Based Compensation - Restricted Stock Activity, Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Sep. 30, 2015	Mar. 31, 2018	Mar. 31, 2017
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation costs related to unvested restricted shares		$ 5.2
Weighted average vesting period		1 year 11 months 4 days
Fair value of restricted shares vested		$ 4.0	$ 1.8
Restricted stock granted		122,919
Restricted Stock \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
Restricted Stock \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Restricted Stock Performance Shares \| Cliff Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock granted		42,860	49,373
Vesting period		36 months
Restricted Stock Performance Shares \| Cliff Vesting \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based vesting range		0.00%	0.00%
Restricted Stock Performance Shares \| Cliff Vesting \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based vesting range		200.00%	100.00%

Details of Certain Consolidated Balance Sheet Captions - Schedule of Accounts Receivable (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 64,398	$ 61,297
Less: Allowance for doubtful accounts	(1,015)	(1,466)
Accounts receivable, net	63,383	59,831
Accounts receivable trade
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	62,494	59,299
Other receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 1,904	$ 1,998

Details of Certain Consolidated Balance Sheet Captions - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Inventory Disclosure [Abstract]
Raw materials and supplies	$ 21,855	$ 18,960
Work in process	3,756	6,271
Finished goods	24,561	25,535
Total inventories	50,172	50,766
Less: LIFO reserve	(5,511)	(5,295)
Less: Obsolescence reserve	(1,687)	(1,806)
Inventories, net	$ 42,974	$ 43,665

Details of Certain Consolidated Balance Sheet Captions - Schedule of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Land and improvements	$ 3,365	$ 3,357
Buildings and improvements	44,341	43,705
Plant, office and laboratory equipment	66,230	62,563
Construction in progress	2,504	3,189
Property, plant and equipment, gross	116,440	112,814
Less: Accumulated depreciation	(61,967)	(56,002)
Property, plant and equipment, net	54,473	56,812
Depreciation of property, plant and equipment	7,651	7,470	$ 6,507
Cost of revenue, depreciation	$ 5,600	$ 5,200	$ 4,300

Details of Certain Consolidated Balance Sheet Captions - Schedule of Other Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Property held for investment	$ 8,863	$ 9,208
Deferred income taxes	3,334	2,954
Retirement assets in excess of benefit obligations	7,636	0
Other	4,125	3,849
Other assets	23,958	16,011
Assets held for sale	$ 6,200	$ 6,200

Details of Certain Consolidated Balance Sheet Captions - Schedule of Accrued and Other Current Expenses (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Payables and Accruals [Abstract]
Compensation and related benefits	$ 12,839	$ 11,668
Non-income taxes	2,892	2,435
Income taxes payable	741	814
Income taxes payable	768	868
Other accrued expenses	6,261	6,597
Accrued and other current liabilities	$ 23,501	$ 22,382

Details of Certain Consolidated Balance Sheet Captions - Schedule of Other Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Other Liabilities, Noncurrent [Abstract]
Contingent consideration	$ 0	$ 6,390
Deferred income taxes	2,360	3,090
Other	2,361	3,900
Other long-term liabilities	$ 4,721	$ 13,380

Long-Term Debt - Schedule of Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Debt Instrument [Line Items]
Total debt	$ 24,020	$ 73,207
Less: Current portion	(561)	(561)
Long-term debt	23,459	72,646
Revolving Credit Facility
Debt Instrument [Line Items]
Revolving Credit Facility, interest rate of 3.13% and 2.23%, respectively	$ 12,000	$ 60,625
Interest rate	3.13%	2.23%
Secured Term Loan \| Whitmore
Debt Instrument [Line Items]
Whitmore term loan, interest rate of 3.88% and 2.98%, respectively	$ 12,020	$ 12,582
Interest rate	3.88%	2.98%

Long-Term Debt - Revolving Credit Agreement (Detail)		12 Months Ended
Long-Term Debt - Revolving Credit Agreement (Detail)	Dec. 11, 2015 USD ($)	Mar. 31, 2018 USD ($)	Sep. 15, 2017 USD ($)	Mar. 31, 2017 USD ($)
Revolving Credit Facility
Debt Instrument [Line Items]
Debt instrument term		5 years
Additional borrowing capacity with accordion feature	$ 250,000,000
Line of credit facility, maximum borrowing capacity, sublimit			$ 125,000,000.0
Commitment fee paid	0.15%
Revolving credit facility, amount outstanding		$ 12,000,000		$ 60,625,000
Revolving credit facility, remaining borrowing capacity		$ 288,000,000		$ 239,400,000
Minimum fixed charge coverage ratio		1.25
Maximum leverage ratio of EBITDA to Funded Debt		3
Revolving Credit Facility \| Prime Rate
Debt Instrument [Line Items]
Spread on interest rate	0.25%
Revolving Credit Facility \| LIBOR
Debt Instrument [Line Items]
Spread on interest rate	1.25%
Revolving Credit Agreement, Accordion Feature
Debt Instrument [Line Items]
Additional borrowing capacity with accordion feature	$ 50,000,000

Long-Term Debt - Whitmore Term Loan (Detail) - Whitmore - Secured Term Loan - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Debt Instrument [Line Items]
Debt instrument, periodic principal payment	$ 140,000
Term loan	$ 12,020,000	$ 12,582,000
LIBOR
Debt Instrument [Line Items]
Spread on interest rate	2.00%

Long-Term Debt - Aggregate Maturities of Long-Term Debt (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Maturities of Long-term Debt [Abstract]
2019	$ 561
2020	561
2021	561
2022	561
2023	12,561
Thereafter	9,215
Total debt	$ 24,020	$ 73,207

Long-Term Debt - Summary of Future Minimum Lease Payments (Detail) $ in Thousands	Mar. 31, 2018 USD ($)
Leases [Abstract]
2019	$ 2,344
2020	2,106
2021	1,865
2022	876
2023	384
Thereafter	3,118
Total	$ 10,693

Long-Term Debt - Operating Leases (Detail) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Leases [Abstract]
Rental expense under operating leases	$ 2.5	$ 2.8	$ 2.2

Derivative Instruments and Hedge Accounting - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Interest Rate Swap
Derivative [Line Items]
Notional amount	$ 12.0	$ 43.2
Maximum remaining length of interest rate swap contract	11 years 3 months 19 days
Foreign Exchange Forward
Derivative [Line Items]
Gain on forward contract		$ 0.2

Derivative Instruments and Hedge Accounting - Fair Value of Derivatives (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Derivatives, Fair Value [Line Items]
Current derivative liabilities	$ 23,501	$ 22,382
Non-current derivative liabilities	4,721	13,380
Hedging Instrument \| Interest Rate Swap
Derivatives, Fair Value [Line Items]
Current derivative liabilities	88	199
Non-current derivative liabilities	$ 134	$ 420

Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Common shares, issued (shares)	15,957,000				15,846,000				15,957,000	15,846,000		15,600,000.0
Income from continuing operations	$ 10,600	$ 2,600	$ 9,200	$ 10,300	$ 3,300	$ 1,900	$ 7,300	$ 5,300	$ 32,682	$ 17,800	$ 23,807
(Loss) income from discontinued operations	(4,300)	(36,700)	(1,800)	(1,800)	(500)	(1,500)	(3,500)	(1,200)	(44,564)	(6,729)	1,664
Net (loss) income	$ 6,300	$ (34,000)	$ 7,300	$ 8,500	$ 2,800	$ 400	$ 3,800	$ 4,100	$ (11,882)	$ 11,071	$ 25,471
Weighted average shares:
Common stock (in shares)									15,671,000	15,555,000	15,443,000
Participating securities (in shares)									0	218,000	182,000
Denominator for basic earnings per common share (in shares)									15,671,000	15,773,000	15,625,000
Potentially dilutive securities (in shares)									0	66,000	50,000
Denominator for diluted earnings per common share (in shares)									15,671,000	15,839,000	15,675,000
Basic earnings (loss) per common share:
Continuing operations (USD per share)	$ 0.68	$ 0.17	$ 0.58	$ 0.65	$ 0.21	$ 0.12	$ 0.47	$ 0.34	$ 2.09	$ 1.13	$ 1.52
Discontinued operations (USD per share)	(0.28)	(2.34)	(0.12)	(0.12)	(0.04)	(0.09)	(0.23)	(0.08)	(2.85)	(0.43)	0.11
Net (loss) income (USD per share)	0.40	(2.17)	0.46	0.53	0.17	0.03	0.24	0.26	(0.76)	0.70	1.63
Diluted earnings (loss) per common share:
Continuing operations (USD per share)	0.68	0.17	0.57	0.65	0.21	0.12	0.47	0.33	2.09	1.12	1.52
Discontinued operations (USD per share)	(0.28)	(2.34)	(0.11)	(0.12)	(0.04)	(0.09)	(0.23)	(0.07)	(2.85)	(0.42)	0.10
Net (loss) income (USD per share)	$ 0.40	$ (2.17)	$ 0.46	$ 0.53	$ 0.17	$ 0.03	$ 0.24	$ 0.26	$ (0.76)	$ 0.70	$ 1.62
Antidilutive shares excluded from computation (in shares)									180,906	0	0

Shareholders' Equity (Details) - USD ($)	5 Months Ended	12 Months Ended
Shareholders' Equity (Details) - USD ($)	Mar. 31, 2017	Mar. 31, 2018	Nov. 11, 2016
Equity [Abstract]
Authorized repurchase amount			$ 35,000,000.0
Repurchase program period in force		2 years
Shares repurchased (shares)	0	26,544
Repurchased amount		$ 1,200,000

Fair Value Measurements (Details) - Selling, general and administrative expense - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Financial Liabilities Fair Value Disclosure [Roll Forward]
Balance at beginning of period	$ 6.4	$ 5.9
Change due to accretion		0.7
Change in estimate	0.1	(0.2)
Payment of contingent consideration	(6.5)
Balance at end of period	0.0	6.4
Deacon
Financial Liabilities Fair Value Disclosure [Roll Forward]
Balance at beginning of period	0.0	0.4
Change due to accretion		0.0
Change in estimate	0.0	(0.4)
Payment of contingent consideration	0.0
Balance at end of period	0.0	0.0
SureSeal
Financial Liabilities Fair Value Disclosure [Roll Forward]
Balance at beginning of period	6.4	5.5
Change due to accretion		0.7
Change in estimate	0.1	0.2
Payment of contingent consideration	(6.5)
Balance at end of period	$ 0.0	$ 6.4

Retirement Plans - Additional Information (Detail) - USD ($)	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 80,000	$ 83,000
Defined benefit plan, lump sum payments to terminated vested participants, percentage of liability	16.00%
Defined benefit plan, percentage of participants, settlement	67.00%
Settlements	$ 7,252,000	0
Estimated prior service costs amortized from accumulated other comprehensive loss into pension expense in next fiscal year	0
Estimated net loss amortized from accumulated other comprehensive loss into pension expense in next fiscal year	$ 28,000
Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Defined benefit plan number of consecutive years of highest compensation	5 years
Defined benefit plan number of years of employment	10 years
Company contributions	$ 0	$ 0	$ 0
Estimated contributions made under defined benefit plan, next fiscal year	$ 100,000
Minimum \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Current target allocations, Minimum percentage	15.00%
Minimum \| Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Current target allocations, Minimum percentage	75.00%
Minimum \| Alternative securities
Defined Benefit Plan Disclosure [Line Items]
Current target allocations, Minimum percentage	0.00%
Maximum \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Current target allocations, Minimum percentage	20.00%
Maximum \| Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Current target allocations, Minimum percentage	80.00%
Maximum \| Alternative securities
Defined Benefit Plan Disclosure [Line Items]
Current target allocations, Minimum percentage	5.00%
Foreign Plan \| Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 100,000

Retirement Plans - Summary of Assumptions (Detail)	12 Months Ended
Retirement Plans - Summary of Assumptions (Detail)	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Assumptions used to determine benefit obligations:
Discount rate	3.98%	4.23%	4.50%
Rate of compensation increases	3.00%	3.00%
Assumptions used to determine net pension expense:
Discount rate	4.23%	4.50%	4.25%
Expected return on plan assets	6.18%	6.19%	7.00%
Rate of compensation increases	3.00%	3.00%
Pension Plan
Assumptions used to determine net pension expense:
Rate of compensation increases	3.00%

Retirement Plans - Schedule of Net Pension Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Retirement Benefits [Abstract]
Service cost – benefits earned during the year	$ 58	$ 94	$ 2,069
Interest cost on projected benefit obligation	2,515	2,637	2,739
Expected return on assets	(3,927)	(3,723)	(3,226)
Net amortization and deferral	30	30	9
Settlement expense	339	0	0
Curtailment benefit	0	0	(8,020)
Other adjustment	0	(24)	0
Net pension (benefit) expense	$ (985)	$ (986)	$ (6,429)

Retirement Plans - Summary of Changes in Pension Obligations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	$ 61,434	$ 60,561
Service cost	58	94	$ 2,069
Interest cost	2,515	2,637	2,739
Actuarial loss	(73)	(2,091)
Benefits paid	(2,299)	(2,514)
Settlements	(7,252)	0
Other adjustment	0	2,815
Currency translation impact	78	(68)
Benefit obligation at end of year	54,461	61,434	$ 60,561
Accumulated benefit obligation	$ 54,197	$ 61,132

Retirement Plans - Summary of Reconciliation of Plan's Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at beginning of year	$ 62,271	$ 60,878
Actual return on plan assets	2,704	1,523
Benefits paid	(2,193)	(2,420)
Company contributions	80	83
Settlements	(7,252)	0
Other adjustment	0	2,263
Currency translation impact	65	(56)
Fair value of plan assets at end of year	$ 55,675	$ 62,271

Retirement Plans - Summary of Net Pension Asset (Liability) (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Plan assets at fair value	$ 55,675	$ 62,271	$ 60,878
Benefit obligation	(54,461)	(61,434)	$ (60,561)
Funded status	$ 1,214	$ 837

Retirement Plans - Summary of Amounts Recognized in Balance Sheet (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Retirement Benefits [Abstract]
Noncurrent assets	$ 3,334	$ 2,955
Current liabilities	(103)	(654)
Noncurrent liabilities	(2,017)	(1,464)
Funded status	$ 1,214	$ 837

Retirement Plans - Schedule of Change in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Accumulated other comprehensive loss at beginning of year	$ (1,901)	$ (1,229)
Amortization of net loss	26	17
Amortization of prior service credit	(5)	3
Settlements	232	0
Net loss arising during the year	(762)	(63)
Other adjustment	(107)	(644)
Currency translation impact	(13)	15
Accumulated other comprehensive loss at end of year	$ (2,530)	$ (1,901)

Retirement Plans - Schedule of Amounts Recorded in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Retirement Benefits [Abstract]
Net prior service cost	$ 41	$ 45
Net loss	(2,571)	(1,946)
Accumulated other comprehensive loss	$ (2,530)	$ (1,901)	$ (1,229)

Retirement Plans - Schedule of Actual Asset Allocations (Detail)	Mar. 31, 2018	Mar. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation, percentage	100.00%	100.00%
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation, percentage	15.00%	17.00%
Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation, percentage	79.00%	78.00%
Other
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation, percentage	5.00%	4.00%
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Actual asset allocation, percentage	1.00%	1.00%

Retirement Plans - Schedule of Fair Values of Plan Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	$ 55,675	$ 62,271	$ 60,878
Equity securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	8,731	10,850
Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	43,810	48,312
Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	2,753	2,760
Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	381	349
Hierarchical Level 1
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	1,069	1,175
Hierarchical Level 1 \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	264	333
Hierarchical Level 1 \| Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0	0
Hierarchical Level 1 \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	424	493
Hierarchical Level 1 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	381	349
Hierarchical Level 2
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	54,606	61,096
Hierarchical Level 2 \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	8,467	10,517
Hierarchical Level 2 \| Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	43,810	48,312
Hierarchical Level 2 \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	2,329	2,267
Hierarchical Level 2 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0	0
Hierarchical Level 3
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0	0
Hierarchical Level 3 \| Equity securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0	0
Hierarchical Level 3 \| Fixed income securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0	0
Hierarchical Level 3 \| Other
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	0	0
Hierarchical Level 3 \| Cash and cash equivalents
Defined Benefit Plan Disclosure [Line Items]
Plan assets at fair value	$ 0	$ 0

Retirement Plans - Summary of Expected Cash Benefit Payments (Detail) $ in Millions	Mar. 31, 2018 USD ($)
Retirement Benefits [Abstract]
2019	$ 2.6
2020	2.7
2021	2.8
2022	2.9
2023	3.0
Thereafter	$ 15.9

Retirement Plans - Defined Contribution Plan (Detail) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Retirement Benefits [Abstract]
Employer matching contribution, percent of employees' gross pay	6.00%
Employer discretionary contribution of eligible earnings, percent	3.00%
Contributions to defined contribution plan	$ 3.6	$ 3.3

Retirement Plans - Employee Stock Ownership Plan (Detail) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Contributions to the ESOP	$ 1.6	$ 2.1	$ 1.6
ESOP expense recorded	$ 1.5
CSWI
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Shares held in ESOP	850,940	907,748
Capital Southwest
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]
Shares held in ESOP	0	597,434

Income Taxes - Schedule of Income Before Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
U.S. Federal									$ 42,898	$ 29,525	$ 39,727
Foreign									5,349	2,635	3,246
Income before income taxes	$ 9,800	$ 7,800	$ 14,500	$ 16,100	$ 5,800	$ 5,000	$ 12,500	$ 8,900	$ 48,247	$ 32,160	$ 42,973

Income Taxes - Schedule of Income Tax Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Current U.S. Federal	$ 9,083	$ 8,313	$ 9,560
Current state and local	3,281	1,726	1,348
Current foreign	1,303	1,201	914
Current provision for income taxes	13,667	11,240	11,822
Deferred U.S. Federal	1,915	3,384	7,645
Deferred state and local	398	417	(127)
Deferred foreign	(415)	(681)	(174)
Deferred provision for income taxes	1,898	3,120	7,344
U.S. Federal	10,998	11,697	17,205
State and local	3,679	2,143	1,221
Foreign	888	520	740
Provision for income taxes continuing operations	$ 15,565	$ 14,360	$ 19,166

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
U.S. federal statutory income tax rate percentage	31.50%
Effective tax rates	32.30%	44.70%	44.60%
Tax effected net operating loss carryforwards	$ 167	$ 565
Accrued interest on uncertain tax positions	100	200	$ 200
Accrued penalties on uncertain tax positions	200	200	200
Amount taxed	$ 15,198	$ 11,256	$ 15,041

Income Taxes - Reconciliation of Income Tax Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Computed tax expense at statutory rate	$ 15,198	$ 11,256	$ 15,041
Increase (reduction) in income taxes resulting from:
Uncertain tax positions	269	1,593	1,277
State and local income taxes, net of federal benefits	1,304	1,529	1,049
Domestic production activity deduction	(1,238)	(545)	(420)
Other permanent differences	(520)	646	1,373
Foreign rate differential	(414)	(444)	(642)
Impact of reduction of federal tax rate	(1,011)	0	(107)
Federal Repatriation Tax, net of tax credit	1,891	0	0
Other, net	86	325	1,595
Provision for income taxes continuing operations	$ 15,565	$ 14,360	$ 19,166

Income Taxes - Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2018	Mar. 31, 2017
Deferred tax assets:
Accrued expenses	$ 106	$ 2
Net operating loss carryforwards	167	565
Inventory reserves	837	1,876
Pension and other employee benefits	863	3,289
Accrued compensation	1,693	2,621
Impairment	10,933	0
Other, net	883	1,485
Deferred tax assets	15,482	9,838
Valuation allowance	(64)	(107)
Deferred tax assets, net of valuation allowance	15,418	9,731
Deferred tax liabilities:
Property, plant and equipment	(4,913)	(6,719)
Goodwill and intangible assets	(4,465)	(5,313)
Deferred gain	(461)	(783)
Other	(303)	(6)
Deferred tax liabilities	(10,142)	(12,821)
Net deferred tax assets (liabilities)	$ 5,276
Net deferred tax liabilities		$ (3,090)

Income Taxes - Summary of Reconciliation of Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 2,025	$ 900
Increases related to prior year tax positions	316	916
Increases related to current year tax positions	284	730
Settlement	(746)	(521)
Balance at end of year	$ 1,879	$ 2,025

Related Party Transactions (Detail) - USD ($)	12 Months Ended
Related Party Transactions (Detail) - USD ($)	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Related Party Transaction [Line Items]
Selling, general and administrative expenses	$ 97,202,000	$ 94,490,000	$ 88,472,000
Dividends paid	0	0	300,000
Affiliated Entity \| Consulting Fees
Related Party Transaction [Line Items]
Related party expense	100,000	100,000	100,000
Subsidiary of Capital Southwest Corporation \| Management Fees
Related Party Transaction [Line Items]
Selling, general and administrative expenses	0	0	200,000
Capital Southwest
Related Party Transaction [Line Items]
Dividends paid	$ 0	$ 0	$ 300,000
Capital Southwest
Related Party Transaction [Line Items]
Related party, stock held in employee stock-ownership plan (in shares)	0	597,434

Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 272,438	$ 258,010	$ 204,601
Adjustments for foreign currency translation	3,295	(2,884)	(1,371)
Other comprehensive income	294	819	(15)
Other comprehensive income, net of tax	2,960	(2,737)	2,595
Balance at end of period	265,765	272,438	258,010
Other comprehensive income (loss), tax		0
Expected loss from currency cash flow hedge, next 12 months	100
Currency translation adjustments:
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(8,132)	(5,248)
Balance at end of period	(4,837)	(8,132)	(5,248)
Interest rate swaps:
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(402)	(1,221)
Other comprehensive income, before reclassifications, net of tax	193	485
Reclassifications out of accumulated other comprehensive income (loss), net of tax	101	334
Balance at end of period	(108)	(402)	(1,221)
Unrealized gains, tax	(67)	(261)
Reclassification from AOCI, tax	(34)	(180)
Defined benefit plans:
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(1,901)	(1,229)
Other comprehensive income, net of tax	(629)	(672)
Balance at end of period	(2,530)	(1,901)	$ (1,229)
Amortization of Net Prior Service Benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassifications out of accumulated other comprehensive income (loss), net of tax	(5)	3
Reclassification from AOCI, tax	2	(2)
Amortization of Net Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Reclassifications out of accumulated other comprehensive income (loss), net of tax	26	17
Reclassification from AOCI, tax	(12)	(7)
Net Loss Arising During Period
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income, net of tax	(762)	(63)
Other comprehensive income (loss), tax	347	42
Settlement
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income, net of tax	232	0
Other comprehensive income (loss), tax	107
Other Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income, net of tax	(107)	(644)
Other comprehensive income (loss), tax	0	276
Currency Translation Impact
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive income, net of tax	$ (13)	$ 15

Segments - Summary of Financial Information of Reporting Segments (Detail) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Sep. 30, 2017 USD ($)	Jun. 30, 2017 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Sep. 30, 2016 USD ($)	Jun. 30, 2016 USD ($)	Mar. 31, 2018 USD ($) Segment	Mar. 31, 2017 USD ($)	Mar. 31, 2016 USD ($)
Segment Reporting [Abstract]
Number of business segments \| Segment									2
Segment Reporting Information [Line Items]
Revenues, net	$ 83,500	$ 69,000	$ 84,400	$ 89,300	$ 76,400	$ 65,300	$ 70,900	$ 74,900	$ 326,222	$ 287,460	$ 266,917
Operating income									50,714	33,126	46,195
Depreciation and amortization									14,933	13,754	11,738
Restructuring charges					3,400				232
Total Assets	340,816				398,427				340,816	398,427	392,671
Operating Segments
Segment Reporting Information [Line Items]
Revenues, net									326,218	287,368	266,645
Operating income									62,411	46,401	53,185
Depreciation and amortization									14,265	13,381	11,670
Total Assets	314,580				379,273				314,580	379,273	381,749
Operating Segments \| Industrial Products
Segment Reporting Information [Line Items]
Revenues, net									186,483	158,654	138,594
Operating income									43,984	32,893	31,075
Depreciation and amortization									7,586	6,963	6,530
Restructuring charges									200	400
Defined benefit plan, curtailments											3,200
Total Assets	170,847				171,147				170,847	171,147	154,583
Operating Segments \| Specialty Chemicals
Segment Reporting Information [Line Items]
Revenues, net									139,735	128,714	128,051
Operating income									18,427	13,508	22,110
Depreciation and amortization									6,679	6,418	5,140
Defined benefit plan, curtailments											4,800
Total Assets	143,733				208,126				143,733	208,126	227,166
Eliminations and Other
Segment Reporting Information [Line Items]
Revenues, net									4	92	272
Operating income									(11,697)	(13,275)	(6,990)
Depreciation and amortization									668	373	68
Total Assets	$ 26,236				$ 19,154				$ 26,236	$ 19,154	$ 10,922

Segments - Schedule of Sales and Long-Lived Assets by Geographic Area (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net	$ 83,500	$ 69,000	$ 84,400	$ 89,300	$ 76,400	$ 65,300	$ 70,900	$ 74,900	$ 326,222	$ 287,460	$ 266,917
Long-lived assets	205,613				212,998				$ 205,613	$ 212,998	$ 193,138
Net Revenues \| Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage									100.00%	100.00%	100.00%
Long Lived Assets \| Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage									100.00%	100.00%	100.00%
U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net									$ 268,201	$ 239,657	$ 205,027
Long-lived assets	178,010				185,472				$ 178,010	$ 185,472	$ 180,148
U.S. \| Net Revenues \| Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage									82.20%	83.40%	76.80%
U.S. \| Long Lived Assets \| Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage									86.60%	87.10%	93.30%
Non-U.S.
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues, net									$ 58,021	$ 47,803	$ 61,890
Long-lived assets	$ 27,603				$ 27,526				$ 27,603	$ 27,526	$ 12,990
Non-U.S. \| Net Revenues \| Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage									17.80%	16.60%	23.20%
Non-U.S. \| Long Lived Assets \| Geographic Concentration Risk
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage									13.40%	12.90%	6.70%

Quarterly Financial Data (Unaudited) - Summary of Unaudited Quarterly Data (Detail) - USD ($)	3 Months Ended								12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2018	Mar. 31, 2017	Mar. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Revenues, net	$ 83,500,000	$ 69,000,000	$ 84,400,000	$ 89,300,000	$ 76,400,000	$ 65,300,000	$ 70,900,000	$ 74,900,000	$ 326,222,000	$ 287,460,000	$ 266,917,000
Gross profit	36,100,000	30,200,000	39,700,000	41,900,000	30,400,000	27,400,000	34,900,000	36,200,000	147,916,000	128,931,000	134,667,000
Income before income taxes	9,800,000	7,800,000	14,500,000	16,100,000	5,800,000	5,000,000	12,500,000	8,900,000	48,247,000	32,160,000	42,973,000
Income from continuing operations	10,600,000	2,600,000	9,200,000	10,300,000	3,300,000	1,900,000	7,300,000	5,300,000	32,682,000	17,800,000	23,807,000
Loss from discontinued operations	(4,300,000)	(36,700,000)	(1,800,000)	(1,800,000)	(500,000)	(1,500,000)	(3,500,000)	(1,200,000)	(44,564,000)	(6,729,000)	1,664,000
Net (loss) income	$ 6,300,000	$ (34,000,000)	$ 7,300,000	$ 8,500,000	$ 2,800,000	$ 400,000	$ 3,800,000	$ 4,100,000	$ (11,882,000)	$ 11,071,000	$ 25,471,000
Basic earnings (loss) per common share:
Continuing operations (USD per share)	$ 0.68	$ 0.17	$ 0.58	$ 0.65	$ 0.21	$ 0.12	$ 0.47	$ 0.34	$ 2.09	$ 1.13	$ 1.52
Discontinued operations (USD per share)	(0.28)	(2.34)	(0.12)	(0.12)	(0.04)	(0.09)	(0.23)	(0.08)	(2.85)	(0.43)	0.11
Net (loss) income (USD per share)	0.40	(2.17)	0.46	0.53	0.17	0.03	0.24	0.26	(0.76)	0.70	1.63
Diluted earnings (loss) per common share:
Continuing operations (USD per share)	0.68	0.17	0.57	0.65	0.21	0.12	0.47	0.33	2.09	1.12	1.52
Discontinued operations (USD per share)	(0.28)	(2.34)	(0.11)	(0.12)	(0.04)	(0.09)	(0.23)	(0.07)	(2.85)	(0.42)	0.10
Net (loss) income (USD per share)	$ 0.40	$ (2.17)	$ 0.46	$ 0.53	$ 0.17	$ 0.03	$ 0.24	$ 0.26	$ (0.76)	$ 0.70	$ 1.62
Severance costs	$ 400,000								$ 0
Restructuring charges					$ 3,400,000				232,000
Implementation costs					500,000
Acquisition transaction costs					400,000
Asset impairment charges					$ 200,000				$ 0	$ 200,000	$ 0