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INDEBTEDNESS (Tables) | 9 Months Ended
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Dec. 31, 2016
Summary of Debt Outstanding | The following is a summary of debt outstanding at December 31, 2016 and March 31, 2016:
|  | December 31, |  |  | March 31, |
(In thousands) |  | 2016 |  |  | 2016 |
Term loan |  | $ | 300,000 |  |  |  | 300,000 |
Revolving line of credit |  |  | 600,000 |  |  |  | 600,000 |
September 2013 senior unsecured notes |  |  | 500,000 |  |  |  | 500,000 |
August 2011 senior unsecured notes |  |  | 165,000 |  |  |  | 165,000 |
September 2010 senior unsecured notes: |  |  | 382,500 |  |  |  | 382,500 |
May 2015 4.22% notes |  |  | 27,421 |  |  |  | 30,033 |
March 2015 4.21% notes |  |  | 25,802 |  |  |  | 27,030 |
January 2014 3.81% notes |  |  | 27,487 |  |  |  | 30,207 |
May 2012 5.38% notes |  |  | 14,791 |  |  |  | 17,500 |
|  | $ | 2,043,001 |  |  |  | 2,052,270 |
Less: Deferred debt issue costs |  |  | 6,941 |  |  |  | 6,754 |
Total debt |  | $ | 2,036,060 |  |  |  | 2,045,516 |
Debt Costs | The following is a summary of interest and debt costs incurred, net of interest capitalized, for the quarters and nine-month periods ended December 31, 2016 and 2015:
|  | Quarter Ended |  |  | Nine Months Ended |
|  | December 31, |  |  | December 31, |
(In thousands) |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
Interest and debt costs incurred, net of interest capitalized |  | $ | 18,587 |  |  |  | 13,312 |  |  |  | 54,018 |  |  |  | 39,741 |
Interest costs capitalized |  |  | 1,118 |  |  |  | 2,513 |  |  |  | 3,612 |  |  |  | 8,280 |
Total interest and debt costs |  | $ | 19,705 |  |  |  | 15,825 |  |  |  | 57,630 |  |  |  | 48,021 |
Unites States Dollar Denominated Debt |
Summary of Debt Outstanding | The following table contains additional detail for U.S. dollar denominated borrowings outstanding at December 31, 2016 and March 31, 2016:
|  | December 31, |  |  | 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) |  |  | 165,000 |  |  |  | 300,000 |
Revolving line of credit (A) (B) |  |  | 600,000 |  |  |  | 600,000 |
Fair value revolving line of credit outstanding (Level 2) |  |  | 330,000 |  |  |  | 600,000 |
September 2013 senior unsecured notes: |  |  |  |  |  |  |  |
Aggregate debt outstanding |  | $ | 500,000 |  |  |  | 500,000 |
Weighted average remaining life in years (C) |  |  | 6.6 |  |  |  | 7.4 |
Weighted average coupon rate on notes outstanding |  |  | 4.86 | % |  |  | 4.86 | %
Fair value of debt outstanding (Level 2) |  | $ | 275,000 |  |  |  | 342,746 |
August 2011 senior unsecured notes: |  |  |  |  |  |  |  |
Aggregate debt outstanding |  | $ | 165,000 |  |  |  | 165,000 |
Weighted average remaining life in years (C) |  |  | 3.8 |  |  |  | 4.6 |
Weighted average coupon rate on notes outstanding |  |  | 4.42 | % |  |  | 4.42 | %
Fair value of debt outstanding (Level 2) |  | $ | 90,750 |  |  |  | 127,148 |
September 2010 senior unsecured notes: |  |  |  |  |  |  |  |
Aggregate debt outstanding |  | $ | 382,500 |  |  |  | 382,500 |
Weighted average remaining life in years (C) |  |  | 3.3 |  |  |  | 4.1 |
Weighted average coupon rate on notes outstanding |  |  | 4.35 | % |  |  | 4.35 | %
Fair value of debt outstanding (Level 2) |  | $ | 210,375 |  |  |  | 302,832 |
May 2015 4.22% notes (D): |  |  |  |  |  |  |  |
Amount outstanding |  | $ | 27,421 |  |  |  | 30,033 |
Fair value of debt outstanding (Level 2) |  |  | 27,409 |  |  |  | 30,062 |
March 2015 4.21% notes (D): |  |  |  |  |  |  |  |
Amount outstanding |  | $ | 25,802 |  |  |  | 27,030 |
Fair value of debt outstanding (Level 2) |  |  | 25,765 |  |  |  | 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 December 31, 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.
Norwegian Kroner (NOK) denominated borrowing |
Summary of Debt Outstanding | The following table contains additional detail for Norwegian Kroner (NOK) denominated borrowings outstanding at December 31, 2016 and March 31, 2016, and their U.S. dollar equivalents:
|  | December 31, |  |  | March 31, |
(In thousands) |  | 2016 |  |  | 2016 |
January 2014 3.81% notes (A): |  |  |  |  |  |  |  |
NOK denominated |  |  | 237,500 |  |  |  | 250,000 |
U.S. dollar equivalent |  | $ | 27,487 |  |  |  | 30,207 |
Fair value in U.S. dollar equivalent (Level 2) |  |  | 27,442 |  |  |  | 30,199 |
May 2012 5.38% notes (A): |  |  |  |  |  |  |  |
NOK denominated |  |  | 127,800 |  |  |  | 144,840 |
U.S. dollar equivalent |  | $ | 14,791 |  |  |  | 17,500 |
Fair value in U.S. dollar equivalent (Level 2) |  |  | 14,767 |  |  |  | 17,479 |
(A) | Troms Offshore debt requires semi-annual principal payments and has a 12 year maturity.

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