(8)INDEBTEDNESS

The following is a summary of all debt outstanding at June 30, 2017 and March 31, 2017:

	June 30,		March 31,
(In thousands)	2017		2017
Term loan (A)	$	300,000		300,000
Revolving line of credit (A) (B)		600,000		600,000
September 2013 senior unsecured notes (A)		500,000		500,000
August 2011 senior unsecured notes (A)		165,000		165,000
September 2010 senior unsecured notes (A)		382,500		382,500
Troms Offshore borrowings:
May 2015 4.42% notes (C)		26,116		27,421
March 2015 4.41% notes (C)		24,573		24,573
January 2014 4.31% notes (C) (D)		26,957		26,167
May 2012 5.88% notes (C) (D)		14,291		14,864
		2,039,437		2,040,525
Less: Deferred debt issue costs		968		6,401
Less: Current portion of long-term debt		10,106		2,034,124
Less: Liabilities subject to compromise		1,947,500		—
Total long-term debt	$	80,863		—

(A)

At June 30, 2017, the term loan, revolving line of credit and senior notes have been classified as liabilities subject to compromise as a result of the bankruptcy petition filed on May 17, 2017. Refer to Note (3) - Liabilities Subject to Compromise for additional information. As of June 30, 2017 and March 31, 2017, the aggregate fair value (Level 2) of the term loan, revolver and senior notes were $1.1 billion and $1.1 billion, respectively.

(B)	The revolver was fully utilized at June 30, 2017 and March 31, 2017, respectively.

(C)	The company continues to make semi-annual principal and interest payments on these notes in the ordinary course of business. As of June 30, 2017 and March 31, 2017, the aggregate fair value (Level 2) of the Troms Offshore borrowings was $91.7 million and $92.9 million, respectively.

(D)	Notes are denominated in Norwegian kroner (NOK)

On July 31, 2017, amendments related to the four Troms Offshore debt arrangements became effective. Refer to
Note (18) for additional information regarding the new terms of the Troms Offshore Debt.

Debt Costs

The company capitalizes a portion of its interest costs incurred on borrowed funds used to construct vessels. The following is a summary of interest and debt costs incurred, net of interest capitalized, for the quarters ended June 30, are as follows:

	Quarter Ended
	June 30,
(In thousands)	2017		2016
Interest and debt costs incurred, net of interest capitalized	$	10,605		16,954
Interest costs capitalized		601		1,393
Total interest and debt costs	$	11,206		18,347

The company recognizes interest expense incurred subsequent to its chapter 11 filing date only to the extent that such interest will be paid during the proceedings or that it is probable that it will be an allowed claim. Accrued interest on the term loan, revolving line of credit and senior notes subsequent to the Petition Date was not an allowed claim in the Prepackaged Plan; therefore, the company did not record interest expense subsequent to that date. Had the term loan, revolving line of credit and senior notes not been compromised by the Prepackaged Plan, interest expense for the quarter ended
June 30, 2017 would have been approximately $20 million.