Borrowings (Table Text Block)

3 Months Ended

Jun. 30, 2018

Debt Instruments [Abstract]

Long-Term Debt

Long term debt was as follows:

				June 30,		March 31,
	2019 Rate (a)	Maturities		2018		2018
				(Unaudited)
				(In thousands)
Real estate loan (amortizing term)	3.55% - 6.93%	2023	$	132,787	$	135,287
Senior mortgages	3.72% - 6.62%	2021 - 2038		1,519,614		1,487,645
Working capital loans (revolving credit)	3.36%	2021		75,000		55,000
Fleet loans (amortizing term)	1.95% - 4.66%	2018 - 2025		332,236		342,971
Fleet loans (revolving credit)	3.13%	2021 - 2022		450,000		460,000
Capital leases (rental equipment)	1.92% - 5.04%	2018 - 2025		1,029,405		984,217
Other obligations	2.75% - 8.00%	2018 - 2047		72,978		73,579
Notes, loans and leases payable				3,612,020		3,538,699
Less: Debt issuance costs				(25,893)		(25,623)
Total notes, loans and leases payable, net			$	3,586,127	$	3,513,076
(a) Interest rate as of June 30, 2018, including the effect of applicable hedging instruments.

Annual Maturities of Notes, Loans and Leases Payable

		Year Ended June 30,
		2019		2020		2021		2022		2023		Thereafter
		(Unaudited)
		(In thousands)
Notes, loans and leases payable, secured	$	483,563	$	433,620	$	526,913	$	534,647	$	259,432	$	1,373,845

Components of interest expense

		Quarter Ended June 30,
		2018		2017
		(Unaudited)
		(In thousands)
Interest expense	$	34,196	$	29,629
Capitalized interest		(419)		(1,765)
Amortization of transaction costs		961		932
Interest expense resulting from derivatives		516		1,549
Total interest expense		35,254		30,345

Interest rates and company borrowings

		Revolving Credit Activity
		Quarter Ended June 30,
		2018		2017
		(Unaudited)
		(In thousands, except interest rates)
Weighted average interest rate during the quarter		3.11%		2.24%
Interest rate at the end of the quarter		3.16%		2.25%
Maximum amount outstanding during the quarter	$	525,000	$	508,000
Average amount outstanding during the quarter	$	497,967	$	499,659
Facility fees	$	144	$	76