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Indebtedness (Tables) | 6 Months Ended
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Sep. 30, 2014
Summary of Debt Outstanding | A summary of debt outstanding at September 30, 2014 and March 31, 2014, are as follows:
|  |  |  | September 30, |  | March 31,
(In thousands, except weighted average data) |  |  |  | 2014 |  | 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 |  |  |  |  |  |  |  |  | 8.9 |  |  |  |  | 9.4 |
Weighted average coupon rate on notes outstanding |  |  |  |  |  |  |  |  | 4.86% |  |  |  |  | 4.86% |
Fair value of debt outstanding (Level 2) |  |  | $ |  |  |  |  |  | 525,860 |  |  |  |  | 520,979 |
August 2011 senior unsecured notes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aggregate debt outstanding |  |  | $ |  |  |  |  |  | 165,000 |  |  |  |  | 165,000 |
Weighted average remaining life in years |  |  |  |  |  |  |  |  | 6.1 |  |  |  |  | 6.6 |
Weighted average coupon rate on notes outstanding |  |  |  |  |  |  |  |  | 4.42% |  |  |  |  | 4.42% |
Fair value of debt outstanding (Level 2) |  |  | $ |  |  |  |  |  | 170,438 |  |  |  |  | 168,653 |
September 2010 senior unsecured notes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aggregate debt outstanding |  |  | $ |  |  |  |  |  | 425,000 |  |  |  |  | 425,000 |
Weighted average remaining life in years |  |  |  |  |  |  |  |  | 5.1 |  |  |  |  | 5.6 |
Weighted average coupon rate on notes outstanding |  |  |  |  |  |  |  |  | 4.25% |  |  |  |  | 4.25% |
Fair value of debt outstanding (Level 2) |  |  | $ |  |  |  |  |  | 437,951 |  |  |  |  | 436,264 |
July 2003 senior unsecured notes: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Aggregate debt outstanding |  |  | $ |  |  |  |  |  | 35,000 |  |  |  |  | 35,000 |
Weighted average remaining life in years |  |  |  |  |  |  |  |  | 0.8 |  |  |  |  | 1.3 |
Weighted average coupon rate on notes outstanding |  |  |  |  |  |  |  |  | 4.61% |  |  |  |  | 4.61% |
Fair value of debt outstanding (Level 2) |  |  | $ |  |  |  |  |  | 35,699 |  |  |  |  | 36,018 |
(A) Fair values approximate carrying values because the borrowings bear interest at variable rates. (B) $600 million was available under the revolver at September 30, 2014 and March 31, 2014.
Debt Costs | Interest and debt costs incurred, net of interest capitalized, for the quarters and six-month periods ended September 30, are as follows:
|  | Quarter Ended September 30, |  |  | Six Months Ended September 30, |
(In thousands) |  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
Interest and debt costs incurred, net of interest capitalized |  | $ | 12,559 |  |  |  | 9,918 |  |  |  | 25,688 |  |  |  | 18,831 |
Interest costs capitalized |  |  | 3,410 |  |  |  | 2,636 |  |  |  | 6,282 |  |  |  | 5,598 |
Total interest and debt costs |  | $ | 15,969 |  |  |  | 12,554 |  |  |  | 31,970 |  |  |  | 24,429 |
Norwegian Kroner (NOK) Denominated Borrowings |
Summary of Debt Outstanding | A summary of the Norwegian Kroner (NOK) denominated borrowings outstanding at September 30, 2014 and March 31, 2014, and their U.S. dollar equivalents are as follows:
|  |  |  | September 30, |  |  | March 31, |
(In thousands) |  |  |  | 2014 |  |  | 2014 |
3.81% January 2014 notes: |  |  |  |  |  |  |  |  |  |
NOK denominated |  |  |  |  | 287,500 |  |  |  | 300,000 |
U.S. dollar equivalent |  | $ |  |  | 46,434 |  |  |  | 50,028 |
Fair value in U.S. dollar equivalent (Level 2) |  |  |  |  | 46,442 |  |  |  | 50,044 |
5.38% May 2012 notes: |  |  |  |  |  |  |  |  |  |
NOK denominated |  |  |  |  | 170,400 |  |  |  | 178,920 |
U.S. dollar equivalent |  | $ |  |  | 27,521 |  |  |  | 29,867 |
Fair value in U.S. dollar equivalent (Level 2) |  |  |  |  | 27,267 |  |  |  | 29,588 |
Variable rate borrowings: |  |  |  |  |  |  |  |  |  |
June 2013 borrowing agreement (C) |  |  |  |  |  |  |  |  |  |
NOK denominated |  |  |  |  | 25,000 |  |  |  | 25,000 |
U.S. dollar equivalent |  | $ |  |  | 4,038 |  |  |  | 4,168 |
May 2012 borrowing agreement (C) |  |  |  |  |  |  |  |  |  |
NOK denominated |  |  |  |  | 20,000 |  |  |  | 35,000 |
U.S. dollar equivalent |  | $ |  |  | 3,230 |  |  |  | 5,837 |
(C) Fair values approximate carrying values because the borrowings bear interest at variable rates.

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