Derivatives, Hedging Activities and Interest Expense (Tables)

9 Months Ended

Dec. 31, 2016

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Activity Impact on Consolidated Balance Sheet

The following tables show the financial statement line item and amount of our derivative assets and liabilities that are reported in the Consolidated Balance Sheet:

	December 31, 2016
	Hedge accounting				Non-hedge
	derivatives				accountingderivatives				Total
			Fair				Fair				Fair
	Notional		value		Notional		value		Notional		value
Other assets:
Interest rate swaps	$	-	$	-	$	59,033	$	508	$	59,033	$	508
Interest rate floors		-		-		1,673		2		1,673		2
Foreign currency swaps		271		19		763		38		1,034		57
Total	$	271	$	19	$	61,469	$	548	$	61,740	$	567
Counterparty netting and collateral held												(516	)
Carrying value of derivative    contracts – Other assets											$	51
Other liabilities:
Interest rate swaps	$	-	$	-	$	45,235	$	305	$	45,235	$	305
Interest rate caps		-		-		30		-		30		-
Foreign currency swaps		93		4		13,900		1,426		13,993		1,430
Total	$	93	$	4	$	59,165	$	1,731	$	59,258	$	1,735
Counterparty netting and collateral posted												(1,734	)
Carrying value of derivative    contracts – Other liabilities											$	1

Note 7 – Derivatives, Hedging Activities and Interest Expense (Continued)

	March 31, 2016
	Hedge accounting				Non-hedge
	derivatives				accountingderivatives				Total
			Fair				Fair				Fair
	Notional		value		Notional		value		Notional		value
Other assets:
Interest rate swaps	$	-	$	-	$	29,469	$	640	$	29,469	$	640
Interest rate floors		-		-		1,679		4		1,679		4
Foreign currency swaps		364		39		4,337		290		4,701		329
Total	$	364	$	39	$	35,485	$	934	$	35,849	$	973
Counterparty netting and collateral held												(905	)
Carrying value of derivative    contracts – Other assets											$	68
Other liabilities:
Interest rate swaps	$	-	$	-	$	68,383	$	475	$	68,383	$	475
Interest rate caps		-		-		30		-		30		-
Foreign currency swaps		-		-		9,340		835		9,340		835
Total	$	-	$	-	$	77,753	$	1,310	$	77,753	$	1,310
Counterparty netting and collateral posted												(1,303	)
Carrying value of derivative    contracts – Other liabilities											$	7

Components of Interest Expense

The following table summarizes the components of interest expense, including the location and amount of gains and losses on derivative instruments and related hedged items, as reported in our Consolidated Statement of Income:

	Three Months Ended						Nine Months Ended
	December 31,						December 31,
	2016			2015			2016			2015
Interest expense on debt	$	397		$	334		$	1,133		$	964
Interest expense (income) on derivatives		2			1			(5	)		(4	)
Interest expense on debt and derivatives, net		399			335			1,128			960
Loss on hedge accounting derivatives:
Foreign currency swaps		62			6			25			23
Loss on hedge accounting derivatives		62			6			25			23
Less hedged item:  change in fair value of fixed rate   debt denominated in a foreign currency		(62	)		(7	)		(25	)		(25	)
Ineffectiveness related to hedge accounting derivatives		-			(1	)		-			(2	)
(Gain) loss on debt denominated in foreign currencies    and U.S. dollar non-hedge accounting derivatives:
Gain on non-hedge accounting debt denominated    in foreign currencies		(907	)		(222	)		(969	)		(68	)
Loss on non-hedge accounting foreign currency     swaps		1,127			263			1,159			170
Loss (gain) on U.S. dollar non-hedge accounting interest     rate swaps		82			(98	)		(13	)		(72	)
Total interest expense	$	701		$	277		$	1,305		$	988