Interest on Borrowings (Table Text Block)

12 Months Ended

Mar. 31, 2019

Interest Expense, Borrowings [Abstract]

Components of interest expense

Components of interest expense include the following:

		Years Ended March 31,
		2019		2018		2017
		(In thousands)
Interest expense	$	150,609	$	125,412	$	106,221
Capitalized interest		(12,733)		(6,466)		(4,863)
Amortization of transaction costs		3,745		3,867		3,445
Interest expense resulting from cash flow hedges		824		3,893		8,603
Total interest expense		142,445		126,706		113,406
Amortization on early extinguishment of debt		–		–		499
Total	$	142,445	$	126,706	$	113,905

Interest rates and company borrowings

Interest rates and our revolving credit borrowings were as follows:

		Revolving Credit Activity
		Years Ended March 31,
		2019		2018		2017
		(In thousands, except interest rates)
Weighted average interest rate during the year		3.39%		2.48%		1.83%
Interest rate at year end		3.60%		2.84%		2.06%
Maximum amount outstanding during the year	$	959,400	$	538,000	$	597,000
Average amount outstanding during the year	$	699,415	$	517,997	$	477,888
Facility fees	$	374	$	410	$	158