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INDEBTEDNESS (Tables)
 3 Months Ended
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.