XML 37 R25.htm IDEA: XBRL DOCUMENT v3.19.2
Borrowings (Table Text Block)
3 Months Ended
Jun. 30, 2019
Debt Instruments [Abstract]  
Long-Term Debt

 

 

 

 

 

 

 

 

 

 

 

June 30,

 

March 31,

 

2020 Rates (a)

 

 

Maturities

 

2019

 

2019

 

 

 

 

 

 

 

 

(Unaudited)

 

 

 

 

 

 

 

 

(In thousands)

Real estate loan (amortizing term)

 

 

 

3.91

%

 

 

 

2023

$

100,413

$ 

102,913

Senior mortgages

3.72

%

-

6.62

%

 

2021

-

2038

 

1,729,184

 

1,741,652

Real estate loans (revolving credit)

3.03

%

-

3.93

%

 

2021

-

2024

 

435,000

 

429,400

Fleet loans (amortizing term)

1.95

%

-

4.66

%

 

2019

-

2025

 

261,677

 

263,209

Fleet loans (revolving credit)

 

 

 

3.59

%

 

2021

-

2023

 

555,000

 

530,000

Finance/capital leases (rental equipment)

1.92

%

-

5.04

%

 

2019

-

2026

 

948,206

 

1,042,652

Finance liability (rental equipment)

3.21

%

-

4.22

%

 

 

 

2026

 

259,617

 

0

Other obligations

2.75

%

-

8.00

%

 

2019

-

2048

 

82,724

 

82,417

Notes, loans and finance/capital leases payable

 

 

 

 

 

 

 

 

 

4,371,821

 

4,192,243

Less: Debt issuance costs

 

 

 

 

 

 

 

 

 

 

(27,886)

 

(28,920)

Total notes, loans and finance/capital leases payable, net

 

 

 

 

$

4,343,935

$ 

4,163,323

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(a) Interest rates as of June 30, 2019, including the effect of applicable hedging instruments.

 

 

 

 

Annual Maturities of Notes, Loans and Leases Payable

 

 

Year Ended June 30,

 

 

2020

 

2021

 

2022

 

2023

 

2024

 

Thereafter

 

 

(Unaudited)

 

 

(In thousands)

Notes, loans and finance/capital leases payable, secured

$

511,219

$

394,680

$

811,709

$

555,826

$

767,871

$

1,330,516

Components of interest expense

 

 

Quarter Ended June 30,

 

 

2019

 

2018

 

 

(Unaudited)

 

 

(In thousands)

Interest expense

$

43,331

$

34,196

Capitalized interest

 

(5,499)

 

(419)

Amortization of transaction costs

 

1,053

 

961

Interest expense resulting from cash flow hedges

 

3

 

516

Total interest expense

$

38,888

$

35,254

Interest rates and company borrowings

 

 

Revolving Credit Activity

 

 

 

Quarter Ended June 30,

 

 

 

2019

 

2018

 

 

 

(Unaudited)

 

 

 

(In thousands, except interest rates)

 

Weighted average interest rate during the quarter

 

3.73

%

3.11

%

Interest rate at the end of the quarter

 

3.69

%

3.16

%

Maximum amount outstanding during the quarter

$

990,000

$

525,000

 

Average amount outstanding during the quarter

$

967,358

$

497,967

 

Facility fees

$

62

$

144