Obligations Under Capital Lease

12 Months Ended

Mar. 31, 2014

8. Obligations Under Capital Lease

The Company leases certain equipment under a lease arrangement for estimated future minimum lease payments of approximately $13.9 million. Niska Partners may purchase the assets after August 15, 2020 for an agreed portion of the acquisition cost. The present value of the minimum future lease payments is based on the total costs incurred by the lessor and has been reflected in the balance sheet as a current and a non-current obligation under capital lease. The underlying obligations are denominated in U.S. dollars, have an imputed interest rate of 3.08% and are owing through the lease maturity in August 2021.

Following are the future principal and interest payments of obligations under capital lease as of March 31, 2014.



For the fiscal year ending:
March 31, 2015	$	1,657
March 31, 2016		1,657
March 31, 2017		1,657
March 31, 2018		1,657
March 31, 2019		1,657
March 31, 2020 and thereafter		5,574
Less: Amount representing interest		(1,634	)


	$	12,225