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Indebtedness (Tables)
 3 Months Ended
Jun. 30, 2014
Summary of Debt Outstanding

A summary of debt outstanding at June 30, 2014 and March 31, 2014, are as follows:

 

(In thousands, except weighted average data)    June 30,
2014  		     March 31,
2014  		  

Credit facility:

     

Term loan agreement (A)

    $     300,000        300,000   

Revolving line of credit (A) (B)

      ---        ---   

September 2013 senior unsecured notes:

     

Aggregate debt outstanding

    $ 500,000        500,000   

Weighted average remaining life in years

      9.2        9.4   

Weighted average coupon rate on notes outstanding

      4.86 %      4.86 % 

Fair value of debt outstanding (Level 2)

    $ 522,988        520,979   

August 2011 senior unsecured notes:

     

Aggregate debt outstanding

    $ 165,000        165,000   

Weighted average remaining life in years

      6.3        6.6   

Weighted average coupon rate on notes outstanding

      4.42 %      4.42 % 

Fair value of debt outstanding (Level 2)

    $ 170,332        168,653   

September 2010 senior unsecured notes:

     

Aggregate debt outstanding

    $ 425,000        425,000   

Weighted average remaining life in years

      5.4        5.6   

Weighted average coupon rate on notes outstanding

      4.25 %      4.25 % 

Fair value of debt outstanding (Level 2)

    $ 438,074        436,264   

July 2003 senior unsecured notes:

     

Aggregate debt outstanding

    $ 35,000        35,000   

Weighted average remaining life in years

      1.1        1.3   

Weighted average coupon rate on notes outstanding

      4.61 %      4.61 % 

Fair value of debt outstanding (Level 2)

    $ 35,866        36,018   

(A) Fair values approximate carrying values because the borrowings bear interest at variable rates.

(B) $600.0 million was available under the revolver at June 30, 2014 and March 31, 2014.
Debt Costs

Interest and debt costs incurred, net of interest capitalized, for the quarter periods ended June 30, are as follows:

 

            Quarter Ended
June 30,		  
(In thousands)            2014                  2013        

Interest and debt costs incurred, net of interest capitalized

    $               13,129                     8,913         

Interest costs capitalized

               2,872                     2,963         

Total interest and debt costs

    $           16,001                     11,876         
   
Norwegian Kroner (NOK) Denominated Borrowings
  
Summary of Debt Outstanding

A summary of the Norwegian Kroner (NOK) denominated borrowings outstanding at June 30, 2014 and March 31, 2014, and their U.S. dollar equivalents are as follows:

 

(In thousands)    June 30,
2014   		      March 31,    
2014       		  

3.81% January 2014 notes:

      

NOK denominated

      300,000            300,000          

U.S. dollar equivalent

    $         50,265            50,028          

Fair value in U.S. dollar equivalent (Level 2)

      50,302            50,044          

5.38% May 2012 notes:

      

NOK denominated

      170,400            178,920          

U.S. dollar equivalent

    $ 28,550            29,867          

Fair value in U.S. dollar equivalent (Level 2)

      28,467            29,588          

Variable rate borrowings:

      

June 2013 borrowing agreement (C)

      

NOK denominated

      25,000            25,000          

U.S. dollar equivalent

    $ 4,188            4,168          

May 2012 borrowing agreement (C)

      

NOK denominated

      20,000            35,000          

U.S. dollar equivalent

    $ 3,351            5,837          

(C) Fair values approximate carrying values because the borrowings bear interest at variable rates.