Debt (Tables)

6 Months Ended

Sep. 30, 2020

The Company’s outstanding debt as of September 30, 2020, March 31, 2020 and September 30, 2019 consisted of the following (in thousands):


	September 30, 2020		March 31, 2020		September 30, 2019

Term loan(1)	$	130,537	$	135,853	$	140,543
Finance lease obligations	2,611		3,012		3,402
Total debt(2)	133,148		138,865		143,945
Less: debt issuance costs	(352)		(209)		(258)
Total debt, net of issuance costs	132,796		138,656		143,687
Less: current portion	(14,219)		(12,568)		(11,310)
Long-term portion of debt	$	118,577	$	126,088	$	132,377

(1) See Note 10, “Debt,” to the consolidated financial statements included in the Annual Report for details regarding the Senior Secured Credit Agreement (the "Credit Agreement”). As of September 30, 2020, the Company was in compliance with all applicable financial covenants under the Credit Agreement.

(2) The gross carrying amounts of the Company’s long-term debt, before reduction of the debt issuance costs, and finance lease obligations approximate their fair values, based on Level 2 inputs (quoted prices for similar assets and liabilities in active markets or inputs that are observable), as the stated rates approximate market rates for loans with similar terms. The Company did not transfer any liabilities measured at fair value on a recurring basis to or from Level 2 for any of the periods presented.