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INDEBTEDNESS (Tables) | 6 Months Ended
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Sep. 30, 2016
Summary of Debt Outstanding | The following is a summary of debt outstanding at September 30, 2016 and March 31, 2016:
|  | September 30, |  |  | March 31, |
(In thousands, except weighted average data) |  | 2016 |  |  | 2016 |
Bank loan agreement: |  |  |  |  |  |  |  |
Term loan (A) |  | $ | 300,000 |  |  |  | 300,000 |
Fair value term loan outstanding (Level 2) |  |  | 195,000 |  |  |  | 300,000 |
Revolving line of credit (A) (B) |  |  | 600,000 |  |  |  | 600,000 |
Fair value revolving line of credit outstanding (Level 2) |  |  | 390,000 |  |  |  | 600,000 |
September 2013 senior unsecured notes: |  |  |  |  |  |  |  |
Aggregate debt outstanding |  | $ | 500,000 |  |  |  | 500,000 |
Weighted average remaining life in years (C) |  |  | 6.9 |  |  |  | 7.4 |
Weighted average coupon rate on notes outstanding |  |  | 4.86 | % |  |  | 4.86 | %
Fair value of debt outstanding (Level 2) |  | $ | 325,000 |  |  |  | 342,746 |
August 2011 senior unsecured notes: |  |  |  |  |  |  |  |
Aggregate debt outstanding |  | $ | 165,000 |  |  |  | 165,000 |
Weighted average remaining life in years (C) |  |  | 4.1 |  |  |  | 4.6 |
Weighted average coupon rate on notes outstanding |  |  | 4.42 | % |  |  | 4.42 | %
Fair value of debt outstanding (Level 2) |  | $ | 107,250 |  |  |  | 127,148 |
September 2010 senior unsecured notes: |  |  |  |  |  |  |  |
Aggregate debt outstanding |  | $ | 382,500 |  |  |  | 382,500 |
Weighted average remaining life in years (C) |  |  | 3.6 |  |  |  | 4.1 |
Weighted average coupon rate on notes outstanding |  |  | 4.35 | % |  |  | 4.35 | %
Fair value of debt outstanding (Level 2) |  | $ | 248,625 |  |  |  | 302,832 |
May 2015 4.22% notes (D): |  |  |  |  |  |  |  |
Amount outstanding |  | $ | 28,727 |  |  |  | 30,033 |
Fair value of debt outstanding (Level 2) |  |  | 27,484 |  |  |  | 30,062 |
March 2015 4.21% notes (D): |  |  |  |  |  |  |  |
Amount outstanding |  | $ | 25,802 |  |  |  | 27,030 |
Fair value of debt outstanding (Level 2) |  |  | 24,652 |  |  |  | 27,027 |
(A) | The fair value of the term loan and the revolving line of credit approximated their carrying values at March 31, 2016.
(B) | The revolver was fully utilized at September 30, 2016 and March 31, 2016, respectively.
(C) | Weighted average remaining life in years is based on stated maturities; however, all of the company’s indebtedness has been reclassified as current since March 31, 2016.
(D) | Troms Offshore debt requires semi-annual principal payments and has a 12 year maturity.
Debt Costs | The following is a summary of interest and debt costs incurred, net of interest capitalized, for the quarters and six-month periods ended September 30, 2016 and 2015:
|  | Quarter Ended |  |  | Six Months Ended |
|  | September 30, |  |  | September 30, |
(In thousands) |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Interest and debt costs incurred, net of interest capitalized |  | $ | 18,477 |  |  |  | 13,247 |  |  |  | 35,431 |  |  |  | 26,429 |
Interest costs capitalized |  |  | 1,101 |  |  |  | 2,823 |  |  |  | 2,494 |  |  |  | 5,767 |
Total interest and debt costs |  | $ | 19,578 |  |  |  | 16,070 |  |  |  | 37,925 |  |  |  | 32,196 |
Norwegian Kroner (NOK) denominated borrowing |
Summary of Debt Outstanding | The following is a summary of the Norwegian Kroner (NOK) denominated borrowings outstanding at September 30, 2016 and March 31, 2016, and their U.S. dollar equivalents:
|  | September 30, |  |  | March 31, |
(In thousands) |  | 2016 |  |  | 2016 |
January 2014 3.81% notes (A): |  |  |  |  |  |  |  |
NOK denominated |  |  | 237,500 |  |  |  | 250,000 |
U.S. dollar equivalent |  | $ | 29,745 |  |  |  | 30,207 |
Fair value in U.S. dollar equivalent (Level 2) |  |  | 28,460 |  |  |  | 30,199 |
May 2012 5.38% notes (A): |  |  |  |  |  |  |  |
NOK denominated |  |  | 136,320 |  |  |  | 144,840 |
U.S. dollar equivalent |  | $ | 17,073 |  |  |  | 17,500 |
Fair value in U.S. dollar equivalent (Level 2) |  |  | 16,408 |  |  |  | 17,479 |
(A) | Troms Offshore debt requires semi-annual principal payments and has a 12 year maturity.

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