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Indebtedness (Tables)
 6 Months Ended
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.