Notes, Loans and Finance Leases Payable, net (Table Text Block)

3 Months Ended

6 Months Ended

Sep. 30, 2024

Sep. 30, 2024

Debt Instruments [Abstract]

Long-Term Debt

Long term debt was as follows:

	Fiscal Year 2025 Interest Rates						Maturities				Weighted Avg Interest Rates (c)			September 30, 2024			March 31, 2024
														(Unaudited)
														(In thousands)
Real estate loans (amortizing term) (a)		4.30	%	-	6.68	%	2027		-	2037		5.91	%	$	271,827		$	277,767
Senior mortgages		2.70	%	-	6.05	%	2026		-	2042		4.16	%		2,199,217			2,284,853
Real estate loans (revolving credit)		—	%	-	—	%		—	-	2027	-		%		—			—
Fleet loans (amortizing term)		1.61	%	-	5.68	%	2024		-	2031		3.92	%		67,447			70,454
Fleet loans (revolving credit) (b)		6.45	%	-	6.60	%	2027		-	2029		6.40	%		585,000			573,889
Finance leases (rental equipment)		2.86	%	-	5.01	%	2024		-	2026		4.23	%		78,382			117,641
Finance liability (rental equipment)		1.60	%	-	6.80	%	2024		-	2031		4.94	%		1,823,365			1,708,619
Private placements		2.43	%	-	6.00	%	2029		-	2035		3.62	%		1,700,000			1,200,000
Other obligations		1.50	%	-	8.00	%	2024		-	2049		6.29	%		69,264			70,815
Notes, loans and finance leases payable															6,794,502			6,304,038
Less: Debt issuance costs															(33,721	)		(32,676	)
Total notes, loans and finance leases payable, net														$	6,760,781		$	6,271,362
(a) Certain loans have interest rate swaps fixing the rate for the relevant loans between 2.72% and 2.86% based on current margin. The weighted average interest rate calculation for these loans was 4.10% using the swap adjusted interest rate.
(b) Certain loans have interest rate swaps fixing the rate for the relevant loans between 4.36% and 4.71% based on current margin. The weighted average interest rate calculation for these loans was 6.23% using the swap adjusted interest rate.
(c) Weighted average rates as of September 30, 2024.

Annual Maturities of Notes, Loans and Leases Payable

	Years Ended September 30,
	2025		2026		2027		2028		2029		Thereafter		Total
	(Unaudited)
	(In thousands)
Notes, loans and finance leases payable	$	517,502	$	761,346	$	1,097,768	$	639,548	$	736,189	$	3,042,149	$	6,794,502

Components of interest expense

Components of interest expense included the following:

	Quarter ended September 30,
	2024			2023
	(Unaudited)
	(In thousands)
Interest expense	$	74,241		$	67,524
Capitalized interest		(2,567	)		(3,669	)
Amortization of transaction costs		1,330			1,432
Interest expense resulting from cash flow hedges		(1,506	)		(1,344	)
Total interest expense	$	71,498		$	63,943

	Six months ended September 30,
	2024			2023
	(Unaudited)
	(In thousands)
Interest expense	$	145,388		$	131,924
Capitalized interest		(6,580	)		(7,732	)
Amortization of transaction costs		2,839			2,843
Interest expense resulting from cash flow hedges		(2,931	)		(2,494	)
Total interest expense	$	138,716		$	124,541

Interest rates and company borrowings

Interest rates and Company borrowings related to our revolving credit facilities were as follows:

	Revolving Credit Activity
	Quarter ended September 30,
		2024			2023
	(Unaudited)
	(In thousands, except interest rates)
Weighted average interest rate during the quarter		6.60	%		6.51	%
Interest rate at the end of the quarter		6.55	%		6.61	%
Maximum amount outstanding during the quarter	$	585,000		$	605,000
Average amount outstanding during the quarter	$	585,000		$	596,322
Facility fees	$	316		$	306

	Revolving Credit Activity
	Six months ended September 30,
		2024			2023
	(Unaudited)
	(In thousands, except interest rates)
Weighted average interest rate during the period		6.62	%		6.38	%
Interest rate at the end of the period		6.55	%		6.61	%
Maximum amount outstanding during the period	$	735,000		$	715,000
Average amount outstanding during the period	$	625,209		$	628,151
Facility fees	$	579		$	571