Interest on Borrowings (Table Text Block)

12 Months Ended

Mar. 31, 2018

Interest Expense, Borrowings [Abstract]

Components of interest expense

Components of interest expense include the following:

		Years Ended March 31,
		2018		2017		2016
		(In thousands)
Interest expense	$	125,412	$	106,221	$	85,404
Capitalized interest		(6,466)		(4,863)		(3,623)
Amortization of transaction costs		3,867		3,445		3,235
Interest expense resulting from derivatives		3,893		8,603		12,699
Total interest expense		126,706		113,406		97,715
Amortization on early extinguishment of debt		–		499		–
Total	$	126,706	$	113,905	$	97,715

Interest rates and company borrowings

Interest rates and our revolving credit borrowings were as follows:

		Revolving Credit Activity
		Years Ended March 31,
		2018		2017		2016
		(In thousands, except interest rates)
Weighted average interest rate during the year		2.48%		1.83%		1.67%
Interest rate at year end		2.84%		2.06%		1.82%
Maximum amount outstanding during the year	$	538,000	$	597,000	$	347,000
Average amount outstanding during the year	$	517,997	$	477,888	$	237,372
Facility fees	$	410	$	158	$	201