Debt (Tables)

9 Months Ended

Dec. 31, 2022

Debt consisted of the following:


	December 31, 2022				March 31, 2022
	Interest Rate		Outstanding Balance		Interest Rate		Outstanding Balance
New Term Loan A	5.67	%	$	1,639,688	—	%	$	—
Existing Term Loan A Loans	—	%	—		1.71	%	1,241,398
Existing Term Loan B Loans	—	%	—		2.21	%	380,321

Senior Notes due 2028	3.88	%	700,000		3.88	%	700,000
Senior Notes due 2029	4.00	%	500,000		4.00	%	500,000
Less: Unamortized debt issuance costs and discount on debt			(17,977)				(21,647)
Total			2,821,711				2,800,072
Less: Current portion of long-term debt			(41,250)				(68,379)
Long-term debt, net of current portion			$	2,780,461			$	2,731,693

The following table summarizes interest payments made on the Company’s term loans:


	Three Months Ended December 31,				Nine Months Ended December 31,
	2022		2021		2022		2021
New Term Loan A	$	24,845	$	—	$	24,845	$	—
Existing Term Loan A	—		4,733		14,165		15,197
Existing Term Loan B	—		1,795		5,209		5,401
Total	$	24,845	$	6,528	$	44,219	$	20,598

Schedule of Interest Expense

Interest on debt and debt-like instruments consisted of the following:


	Three Months Ended December 31,				Nine Months Ended December 31,
	2022		2021		2022		2021
	(In thousands)				(In thousands)
New Term Loan A Interest Expense	$	20,733	$	—	$	39,210	$	—
Existing Term Loan A Loans Interest Expense	—		4,724		—		15,187
Existing Term Loan B Loans Interest Expense	—		1,795		5,186		5,401
Interest on Revolving Credit Facility	—		—		—		25
Senior Notes Interest Expense	11,781		11,781		35,344		31,121
Amortization of Debt Issuance Cost (DIC) and Original Issue Discount (OID) (1)	1,042		1,168		3,329		3,462
Interest Swap Expense	(1,648)		4,097		1,571		13,627
Other	123		112		388		378
Total Interest Expense	$	32,031	$	23,677	$	85,028	$	69,201

(1) DIC and OID on the Term Loans and senior notes are recorded as a reduction of long-term debt in the condensed consolidated balance sheet and are amortized ratably over the life of the related debt using the effective rate method. DIC on the Revolving Credit Facility is recorded as a long-term asset on the condensed consolidated balance sheet and amortized ratably over the term of the Revolving Credit Facility.