Long-Term Debt (Tables)

9 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of long-term debt

Our long-term debt consists of the following at the dates indicated:

	December 31, 2021						March 31, 2021
	Face Amount		Unamortized Debt Issuance Costs (1)		Book Value		Face Amount		Unamortized Debt Issuance Costs (1)		Book Value
	(in thousands)
Senior secured notes:
7.500% Notes due 2026 (“2026 Senior Secured Notes”)	$	2,050,000	$	(37,491)	$	2,012,509	$	2,050,000	$	(44,246)	$	2,005,754
Asset-based revolving credit facility (“ABL Facility”)	156,000		—		156,000		4,000		—		4,000
Senior unsecured notes:
7.500% Notes due 2023 (“2023 Notes”)	499,496		(2,276)		497,220		555,251		(3,564)		551,687
6.125% Notes due 2025 (“2025 Notes”)	380,020		(2,666)		377,354		380,020		(3,297)		376,723
7.500% Notes due 2026 (“2026 Notes”)	332,402		(3,661)		328,741		338,402		(4,378)		334,024
Other long-term debt	42,323		(62)		42,261		49,095		(70)		49,025
	3,460,241		(46,156)		3,414,085		3,376,768		(55,555)		3,321,213
Less: Current maturities	2,328		—		2,328		2,183		—		2,183
Long-term debt	$	3,457,913	$	(46,156)	$	3,411,757	$	3,374,585	$	(55,555)	$	3,319,030

(1)    Debt issuance costs related to the ABL Facility and the Sawtooth credit agreement (included in other long-term debt) are reported within intangible assets, rather than as a reduction of the carrying amount of long-term debt.

Schedule of repurchases

The following table summarizes repurchases of Senior Unsecured Notes for the periods indicated:

	Three Months Ended December 31,		Nine Months Ended December 31,
	2021		2021
	(in thousands)
2023 Notes
Notes repurchased	$	20,000	$	55,755
Cash paid (excluding payments of accrued interest)	$	19,900	$	54,829
Gain on early extinguishment of debt (1)	$	9	$	636
2026 Notes
Notes repurchased	$	—	$	6,000
Cash paid (excluding payments of accrued interest)	$	—	$	5,320
Gain on early extinguishment of debt (2)	$	—	$	610

(1)    Gain on early extinguishment of debt for the three months and nine months ended December 31, 2021 is inclusive of the write-off of debt issuance costs of $0.1 million and $0.3 million, respectively. The gain is reported within gain on early extinguishment of liabilities, net within our unaudited condensed consolidated statements of operations.

(2)    Gain on early extinguishment of debt for the nine months ended December 31, 2021 is inclusive of the write-off of debt issuance costs of $0.1 million. The gain is reported within gain on early extinguishment of liabilities, net within our unaudited condensed consolidated statements of operations.

Schedule of maturities of long-term debt

The scheduled maturities of our long-term debt are as follows at December 31, 2021:

Fiscal Year Ending March 31,	2026 Senior Secured Notes		ABL Facility		Senior Unsecured Notes		Other Long-Term Debt		Total
	(in thousands)
2022 (three months)	$	—	$	—	$	—	$	410	$	410
2023	—		—		—		2,585		2,585
2024	—		—		499,496		2,816		502,312
2025	—		—		380,020		3,068		383,088
2026	2,050,000		156,000		—		3,343		2,209,343
2027	—		—		332,402		3,642		336,044
Thereafter	—		—		—		26,459		26,459
Total	$	2,050,000	$	156,000	$	1,211,918	$	42,323	$	3,460,241

Schedule of future amortization expense of debt issuance costs

Expected amortization of debt issuance costs is as follows (in thousands):

Fiscal Year Ending March 31,
2022 (three months)	$	3,030
2023	12,120
2024	11,607
2025	10,812
2026	8,535
2027	46
Thereafter	6
Total	$	46,156