Borrowings (Table Text Block)

3 Months Ended

Jun. 30, 2016

Debt Instruments [Abstract]

Long-Term Debt

Long-term debt was as follows:

				June 30,		March 31,
	2017 Rate (a)	Maturities		2016		2016
				(Unaudited)
				(In thousands)
Real estate loan (amortizing term)	6.93%	2023	$	202,500	$	205,000
Senior mortgages	2.46% - 5.50%	2016 - 2038		1,116,682		1,121,897
Working capital loan (revolving credit)	-	2018		–		–
Fleet loans (amortizing term)	1.95% - 4.76%	2017 - 2023		218,076		218,998
Fleet loan (securitization)	4.90%	2017		60,139		62,838
Fleet loans (revolving credit)	1.60% - 2.30%	2018 - 2021		410,000		347,000
Capital leases (rental equipment)	2.12% - 7.92%	2016 - 2023		778,731		672,825
Other obligations	3.00% - 8.00%	2016 - 2045		63,547		60,200
Less: Debt issuance costs				(22,623)		(23,362)
Total notes, loans and leases payable			$	2,827,052	$	2,665,396
(a) Interest rate as of June 30, 2016, including the effect of applicable hedging instruments.

Annual Maturities of Notes, Loans and Leases Payable

		Year Ended June 30,
		2017		2018		2019		2020		2021		Thereafter
		(Unaudited)
		(In thousands)
Notes, loans and leases payable, secured	$	412,924	$	399,936	$	364,383	$	379,501	$	218,793	$	1,051,515

Components of interest expense

		Quarter Ended June 30,
		2016		2015
		(Unaudited)
		(In thousands)
Interest expense	$	24,303	$	18,542
Capitalized interest		(1,313)		(551)
Amortization of transaction costs		843		743
Interest expense resulting from derivatives		2,811		3,366
Total interest expense	$	26,644	$	22,100

Interest rates and company borrowings

		Revolving Credit Activity
		Quarter Ended June 30,
		2016		2015
		(Unaudited)
		(In thousands, except interest rates)
Weighted average interest rate during the quarter		1.73%		1.65%
Interest rate at year end		1.72%		1.65%
Maximum amount outstanding during the quarter	$	410,000	$	191,000
Average amount outstanding during the quarter	$	369,637	$	180,714
Facility fees	$	41	$	94