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Indebtedness (Tables)
 12 Months Ended
Mar. 31, 2015
Summary of Debt Outstanding

The following table summarizes debt outstanding at March 31:

 

(In thousands)

      2015         2014        

4.61% July 2003 senior notes due fiscal 2016

    $ 35,000         35,000      

3.28% September 2010 senior notes due fiscal 2016

      42,500         42,500      

3.90% September 2010 senior notes due fiscal 2018

      44,500         44,500      

3.95% September 2010 senior notes due fiscal 2018

      25,000         25,000      

4.12% September 2010 senior notes due fiscal 2019

      25,000         25,000      

4.17% September 2010 senior notes due fiscal 2019

      25,000         25,000      

4.33% September 2010 senior notes due fiscal 2020

      50,000         50,000      

4.51% September 2010 senior notes due fiscal 2021

      100,000         100,000      

4.56% September 2010 senior notes due fiscal 2021

      65,000         65,000      

4.61% September 2010 senior notes due fiscal 2023

      48,000         48,000      

4.06% August 2011 senior notes due fiscal 2019

      50,000         50,000      

4.54% August 2011 senior notes due fiscal 2022

      65,000         65,000      

4.64% August 2011 senior notes due fiscal 2022

      50,000         50,000      

4.26% September 2013 senior notes due fiscal 2021

      123,000         123,000      

5.01% September 2013 senior notes due fiscal 2024

      250,000         250,000      

5.16% September 2013 senior notes due fiscal 2026

      127,000         127,000      

NOK denominated notes due fiscal 2025

      20,152         29,837      

NOK denominated notes due fiscal 2026

      34,234         50,028      

NOK denominated borrowing agreement due fiscal 2016

      2,490         5,837      

NOK denominated borrowing agreement due fiscal 2019

      3,112         4,168      

USD denominated notes due fiscal 2027

      29,488         —      

Bank term loan due fiscal 2019 (A)

      300,000         300,000      

Revolving line of credit due fiscal 2019 (A)

      20,000         —        
   $ 1,534,476         1,514,870      

Less: Current maturities of long-term debt

      10,181         9,512        

Total

    $       1,524,295         1,505,358      

 

 

(A)

In May 2015, the company amended its existing credit facility, extending the due dates of the bank term loan and revolving line of credit until fiscal 2020. Refer to Note (19) for additional information regarding the amended and extended credit facility.
Debt Costs

Interest and debt costs incurred, net of interest capitalized, for the years ended March 31, are as follows:

 

(In thousands)    2015      2014      2013        

Interest and debt costs incurred, net of interest capitalized

    $       50,029         43,814         29,745      

Interest costs capitalized

      13,673         11,497         10,602        

Total interest and debt costs

    $ 63,702         55,311         40,347      

 
September 2013 Senior Notes  
Schedule of Aggregate Amount of Senior Unsecured Notes Outstanding

September 2013 Senior Notes

On September 30, 2013, the company executed a note purchase agreement for $500 million and issued $300 million of senior unsecured notes to a group of institutional investors. The company issued the remaining $200 million of senior unsecured notes on November 15, 2013. A summary of these outstanding notes at March 31, is as follows:

 

(In thousands, except weighted average data)    2015     2014       

Aggregate debt outstanding

    $           500,000        500,000     

Weighted average remaining life in years

      8.4        9.4     

Weighted average coupon rate on notes outstanding

      4.86 %      4.86 %   

Fair value of debt outstanding

      516,879        520,979       
August 2011 Senior Notes  
Schedule of Aggregate Amount of Senior Unsecured Notes Outstanding

August 2011 Senior Notes

On August 15, 2011, the company issued $165 million of senior unsecured notes to a group of institutional investors. A summary of these outstanding notes at March 31, is as follows:

 

(In thousands, except weighted average data)

      2015        2014       

Aggregate debt outstanding

    $         165,000        165,000     

Weighted average remaining life in years

      5.6        6.6     

Weighted average coupon rate on notes outstanding

      4.42 %      4.42 %   

Fair value of debt outstanding

      167,910        168,653       
September 2010 Senior Notes  
Schedule of Aggregate Amount of Senior Unsecured Notes Outstanding

September 2010 Senior Notes

In fiscal 2011, the company completed the sale of $425 million of senior unsecured notes. A summary of the aggregate amount of these outstanding notes at March 31, is as follows:

 

(In thousands, except weighted average data)

      2015        2014       

Aggregate debt outstanding

    $         425,000        425,000     

Weighted average remaining life in years

      4.6        5.6     

Weighted average coupon rate on notes outstanding

      4.25 %      4.25 %   

Fair value of debt outstanding

      431,296        436,254       
July 2003 Senior Notes  
Schedule of Aggregate Amount of Senior Unsecured Notes Outstanding

July 2003 Senior Notes

In July 2003, the company completed the sale of $300 million of senior unsecured notes. A summary of the aggregate amount of these outstanding notes at March 31, is as follows:

 

(In thousands, except weighted average data)

      2015        2014       

Aggregate debt outstanding

    $         35,000        35,000     

Weighted average remaining life in years

      0.3        1.3     

Weighted average coupon rate on notes outstanding

      4.61 %      4.61 %   

Fair value of debt outstanding

      35,197        36,018