Long-Term Debt (Tables)

6 Months Ended

Sep. 30, 2025

Long-Term Debt

Schedule of long-term debt

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

	September 30, 2025						March 31, 2025
	Face Amount		Unamortized Debt Issuance Costs (1)		Book Value		Face Amount		Unamortized Debt Issuance Costs (1)		Book Value
	(in thousands)
Asset-based revolving credit facility (“ABL Facility”)	$	71,000			$	71,000	$	109,000			$	109,000
Senior secured term loan "B" credit facility (“Term Loan B”)	689,500		$	(15,719)	673,781		693,000		$	(16,479)	676,521
Senior secured notes:
8.125% Notes due 2029 (“2029 Senior Secured Notes”)	900,000		(8,900)		891,100		900,000		(10,219)		889,781
8.375% Notes due 2032 (“2032 Senior Secured Notes”)	1,281,000		(14,999)		1,266,001		1,300,000		(16,416)		1,283,584
Other long-term debt	10,771		(27)		10,744		11,652		(30)		11,622
Total long-term debt	2,952,271		(39,645)		2,912,626		3,013,652		(43,144)		2,970,508
Less: Current maturities	8,880		—		8,880		8,805		—		8,805
Long-term debt	$	2,943,391	$	(39,645)	$	2,903,746	$	3,004,847	$	(43,144)	$	2,961,703

(1)    Debt issuance costs related to the ABL Facility are reported within intangible assets, rather than as a reduction of the carrying amount of long-term debt. The unamortized debt issuance costs for the Term Loan B include a $4.0 million discount.

Schedule of maturities of long-term debt

The scheduled maturities of our long-term debt are as follows at September 30, 2025:

Year Ending March 31,	ABL Facility		Term Loan B		Senior Secured Notes		Other Long-Term Debt		Total
	(in thousands)
2026 (six months)	$	—	$	3,500	$	—	$	924	$	4,424
2027	—		7,000		—		1,957		8,957
2028	—		7,000		—		2,120		9,120
2029	71,000		7,000		900,000		2,300		980,300
2030	—		7,000		—		2,494		9,494
2031	—		658,000		—		976		658,976
Thereafter	—		—		1,281,000		—		1,281,000
Total	$	71,000	$	689,500	$	2,181,000	$	10,771	$	2,952,271

Schedule of future amortization expense of debt issuance costs

The following table summarizes expected amortization of debt issuance costs at September 30, 2025 (in thousands):

Year Ending March 31,
2026 (six months)	$	4,003
2027	7,938
2028	7,938
2029	7,601
2030	5,299
2031	4,814
Thereafter	2,052
Total	$	39,645

Repurchases | Senior Secured Notes

Long-Term Debt

Schedule of repurchases

The following table summarizes repurchases of Senior Secured Notes for the six months ended September 30, 2025 (in thousands):

2032 Senior Secured Notes
Notes repurchased (1)	$	19,000
Cash paid (excluding payments of accrued interest)	$	17,274
Gain on early extinguishment of debt (2)	$	1,492

(1)    We did not repurchase any notes during the three months ended September 30, 2025.

(2)    Gain on early extinguishment of debt for the 2032 Senior Secured Notes during the six months ended September 30, 2025 is inclusive of the write off of debt issuance costs of $0.2 million. The gain is reported within gain on early extinguishment of liabilities, net within our unaudited condensed consolidated statement of operations.