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INDEBTEDNESS (Tables) | 3 Months Ended
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Jun. 30, 2015
Summary of Other U.S. Dollar Denominated Borrowings Outstanding | A summary of debt outstanding at June 30, 2015 and March 31, 2015, is as follows:
|  | June 30, |  | March 31,
(In thousands, except weighted average data) |  | 2015 |  |  |  |  | 2015 |  |  |
Credit facility: |  |  |  |  |  |  |  |  |  |  |  |
Term loan agreement (A) |  | $ | 300,000 |  |  |  |  |  | 300,000 |  |  |
Revolving line of credit (A) (B) |  |  | — |  |  |  |  |  | 20,000 |  |  |
September 2013 senior unsecured notes: |  |  |  |  |  |  |  |  |  |  |  |
Aggregate debt outstanding |  | $ | 500,000 |  |  |  |  |  | 500,000 |  |  |
Weighted average remaining life in years |  |  | 8.2 |  |  |  |  |  | 8.4 |  |  |
Weighted average coupon rate on notes outstanding |  |  | 4.86 | % |  |  |  |  | 4.86 | % |  |
Fair value of debt outstanding (Level 2) |  | $ | 531,339 |  |  |  |  |  | 516,879 |  |  |
August 2011 senior unsecured notes: |  |  |  |  |  |  |  |  |  |  |  |
Aggregate debt outstanding |  | $ | 165,000 |  |  |  |  |  | 165,000 |  |  |
Weighted average remaining life in years |  |  | 5.3 |  |  |  |  |  | 5.6 |  |  |
Weighted average coupon rate on notes outstanding |  |  | 4.42 | % |  |  |  |  | 4.42 | % |  |
Fair value of debt outstanding (Level 2) |  | $ | 172,175 |  |  |  |  |  | 167,910 |  |  |
September 2010 senior unsecured notes (C): |  |  |  |  |  |  |  |  |  |  |  |
Aggregate debt outstanding |  | $ | 425,000 |  |  |  |  |  | 425,000 |  |  |
Weighted average remaining life in years |  |  | 4.4 |  |  |  |  |  | 4.6 |  |  |
Weighted average coupon rate on notes outstanding |  |  | 4.25 | % |  |  |  |  | 4.25 | % |  |
Fair value of debt outstanding (Level 2) |  | $ | 440,712 |  |  |  |  |  | 431,296 |  |  |
July 2003 senior unsecured notes: |  |  |  |  |  |  |  |  |  |  |  |
Aggregate debt outstanding |  | $ | 35,000 |  |  |  |  |  | 35,000 |  |  |
Weighted average remaining life in years |  |  | 0.1 |  |  |  |  |  | 0.3 |  |  |
Weighted average coupon rate on notes outstanding |  |  | 4.61 | % |  |  |  |  | 4.61 | % |  |
Fair value of debt outstanding (Level 2) |  | $ | 35,075 |  |  |  |  |  | 35,197 |  |  |
| (A) | Fair values approximate carrying values because the borrowings bear interest at variable rates.
| (B) | $600 million and $580 million were available under the revolver at June 30, 2015 and March 31, 2015, respectively.
| (C) | Principal repayments of approximately $42.5 million due during the twelve months ending June 30, 2016 are classified as long term debt in the accompanying balance sheet at June 30, 2015 because the company has the ability and intent to fund the repayments with borrowings under the credit facility which matures in June 2019.
Debt Costs | Interest and debt costs incurred, net of interest capitalized, for the quarters ended June 30, are as follows:
|  | Quarter Ended June 30, |
(In thousands) |  |  | 2015 |  |  |  | 2014 |
Interest and debt costs incurred, net of interest capitalized |  | $ | 13,182 |  |  |  | 13,129 |
Interest costs capitalized |  |  | 2,944 |  |  |  | 2,872 |
Total interest and debt costs |  | $ | 16,126 |  |  |  | 16,001 |
Norwegian Kroner (NOK) denominated borrowing |
Summary of Other U.S. Dollar Denominated Borrowings Outstanding | A summary of the Norwegian Kroner (NOK) denominated borrowings outstanding at June 30, 2015 and March 31, 2015, and their U.S. dollar equivalents are as follows:
|  | June 30, |  | March 31,
(In thousands) |  | 2015 |  |  |  |  | 2015 |  |  |
3.81% January 2014 notes (A): |  |  |  |  |  |  |  |  |  |  |  |
NOK denominated |  |  | 275,000 |  |  |  |  |  | 275,000 |  |  |
U.S. dollar equivalent |  | $ | 35,001 |  |  |  |  |  | 34,234 |  |  |
Fair value in U.S. dollar equivalent (Level 2) |  |  | 34,978 |  |  |  |  |  | 34,226 |  |  |
5.38% May 2012 notes (A): |  |  |  |  |  |  |  |  |  |  |  |
NOK denominated |  |  | 153,360 |  |  |  |  |  | 161,880 |  |  |
U.S. dollar equivalent |  | $ | 19,519 |  |  |  |  |  | 20,152 |  |  |
Fair value in U.S. dollar equivalent (Level 2) |  |  | 19,441 |  |  |  |  |  | 19,924 |  |  |
Variable rate borrowings: |  |  |  |  |  |  |  |  |  |  |  |
June 2013 borrowing agreement (B) |  |  |  |  |  |  |  |  |  |  |  |
NOK denominated |  |  | 25,000 |  |  |  |  |  | 25,000 |  |  |
U.S. dollar equivalent |  | $ | 3,182 |  |  |  |  |  | 3,112 |  |  |
May 2012 borrowing agreement (B) |  |  |  |  |  |  |  |  |  |  |  |
NOK denominated |  |  | — |  |  |  |  |  | 20,000 |  |  |
U.S. dollar equivalent |  | $ | — |  |  |  |  |  | 2,490 |  |  |
(A) Notes require semi-annual principal payments. (B) Fair values approximate carrying values because the borrowings bear interest at variable rates.
Other United States Dollar Denominated Debt |
Summary of Other U.S. Dollar Denominated Borrowings Outstanding | A summary of the other U.S. dollar denominated borrowings outstanding at June 30, 2015 and March 31, 2015 are as follows:
|  | June 30, |  | March 31,
(In thousands) |  | 2015 |  |  |  |  | 2015 |  |  |
May 2015 notes: |  |  |  |  |  |  |  |  |  |  |  |
Amount outstanding |  | $ | 31,338 |  |  |  |  |  | — |  |  |
Fair value of debt outstanding (Level 2) |  |  | 31,462 |  |  |  |  |  | — |  |  |
March 2015 notes: |  |  |  |  |  |  |  |  |  |  |  |
Amount outstanding |  | $ | 29,488 |  |  |  |  |  | 29,488 |  |  |
Fair value of debt outstanding (Level 2) |  |  | 29,512 |  |  |  |  |  | 29,501 |  |  |
(A) Notes require semi-annual principal payments.

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