Financial Instruments and Fair Value Disclosures (Tables)

12 Months Ended

Mar. 31, 2017

Financial Instruments and Fair Value Disclosures

Schedule of principal terms of the interest rate swaps

	Transaction	Termination	Fixed		Nominal value	Nominal value
Interest rate swap	Date	Date	interest rate		March 31, 2017	March 31, 2016
RBS - CMNL	July 2013(7)	November 2016(7)	5.395	%	—	20,456,000
RBS - CMNL	July 2013(7)	November 2016(7)	4.936	%	—	7,671,000
RBS - CJNP	July 2013(7)	November 2016(7)	4.772	%	—	27,979,875
RBS - CJNP	July 2013(7)	November 2016(7)	2.960	%	—	9,420,125
RBS - CNML	July 2013(7)	November 2016(7)	4.350	%	—	43,000,000
2015 Debt Facility - Citibank(1)	September 2015	March 2022	1.933	%	200,000,000	200,000,000
2015 Debt Facility - ING(2)	September 2015	March 2022	2.002	%	50,000,000	50,000,000
2015 Debt Facility - CBA(3)	October 2015	March 2022	1.428	%	71,250,000	82,550,000
2015 Debt Facility - Citibank(4)	October 2015	March 2022	1.380	%	106,875,000	123,825,000
2015 Debt Facility - Citibank(5)	June 2016	March 2022	1.213	%	67,124,650	—
2015 Debt Facility - Citibank(6)	June 2016	March 2022	1.161	%	27,583,142	—
					522,832,792	564,902,000

⁽¹⁾ Non-amortizing with a final settlement of $200 million in March 2022.

⁽²⁾ Non-amortizing with a final settlement of $50 million in March 2022.

⁽³⁾ Reduces quarterly by $2.8 million with a final settlement of $17.9 million due in March 2022.

⁽⁴⁾ Reduces quarterly by $4.2 million with a final settlement of $26.9 million due in March 2022.

⁽⁵⁾ Reduces quarterly by $2.0 million with a final settlement of $29.9 million due in March 2022.

⁽⁶⁾ Reduces quarterly by $0.8 million with a final settlement of $12.3 million due in March 2022.

⁽⁷⁾ RBS swaps assumed from Predecessor Businesses in July 2013 and terminated in November 2016.

Schedule of financial derivatives

		March 31, 2017				March 31, 2016
	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	$	5,843,368	$	—	$	—	$	21,647,965

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

Derivatives not designated as hedging instruments	Location of gain/(loss) recognized	March 31, 2017		March 31, 2016		March 31, 2015
Interest Rate Swap—Change in fair value	Unrealized gain/(loss) on derivatives	$	27,491,333	$	(8,917,503)	$	1,331,954
Interest Rate Swap—Realized loss	Realized loss on derivatives		(13,797,478)		(6,858,126)		(5,291,157)
Gain/(loss) on derivatives, net		$	13,693,855	$	(15,775,629)	$	(3,959,203)