Financial Instruments and Fair Value Disclosures (Tables)

9 Months Ended

Dec. 31, 2015

Financial Instruments and Fair Value Disclosures

Schedule of financial derivatives

		December 31, 2015				March 31, 2015
	Other non-current assets		Long-term liabilities		Other non-current assets		Long-term liabilities
Derivatives not designated as hedging instruments	Derivative instruments		Derivative instruments		Derivative instruments		Derivative instruments
Interest rate swap agreements	$	1,869,068	$	10,934,205	$	—	$	12,730,462

Schedule of effect of derivative instruments on the consolidated statement of operations

		Three months ended
Derivatives not designated as hedging instruments	Location of gain/(loss) recognized	December 31, 2015		December 31, 2014
Interest Rate Swap—Change in fair value	Gain/(loss) on derivatives, net	$	7,389,868	$	(19,406)
Interest Rate Swap—Realized loss	Gain/(loss) on derivatives, net		(2,007,426)		(1,321,341)
Gain/(loss) on derivatives, net		$	5,382,442	$	(1,340,747)

		Nine months ended
Derivatives not designated as hedging instruments	Location of gain/(loss) recognized	December 31, 2015		December 31, 2014
Interest Rate Swap—Change in fair value	Gain/(loss) on derivatives, net	$	3,665,324	$	1,637,646
Interest Rate Swap—Realized loss	Gain/(loss) on derivatives, net		(4,482,250)		(4,024,228)
Gain/(loss) on derivatives, net		$	(816,926)	$	(2,386,582)