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Interest on Borrowings | 12 Months Ended
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Mar. 31, 2016
Interest Expense, Borrowings [Abstract] |
Interest on Borrowings | Note 10. Interest on Borrowings Interest Expense Components of interest expense include the following:
|  | Years Ended March 31,
|  | 2016 |  | 2015 |  | 2014
|  | (In thousands)
Interest expense | $ | 85,592 | $ | 80,905 | $ | 72,538
Capitalized interest |  | (3,623) |  | (1,204) |  | (571)
Amortization of transaction costs |  | 3,235 |  | 3,495 |  | 3,551
Interest expense resulting from derivatives |  | 12,699 |  | 14,329 |  | 17,174
Total interest expense |  | 97,903 |  | 97,525 |  | 92,692
Write-off of transaction costs related to early extinguishment of debt |  | – |  | 298 |  | –
Fees on early extinguishment of debt |  | – |  | 3,783 |  | –
Fees and amortization on early extinguishment of debt |  | – |  | 4,081 |  | –
Total | $ | 97,903 | $ | 101,606 | $ | 92,692
Interest paid in cash, including payments related to derivative contracts, amounted to $95.1 million, $95.0 million and $87.8 million for fiscal 2016, 2015 and 2014, respectively. In addition, during fiscal 2015, we paid $3.8 million of fees associated with the early extinguishment of debt. Interest Rates Interest rates and our revolving credit borrowings were as follows:
|  | Revolving Credit Activity
|  | Years Ended March 31,
|  | 2016 |  | 2015 |  | 2014
|  | (In thousands, except interest rates)
Weighted average interest rate during the year |  | 1.67% |  | 1.70% |  | 1.10%
Interest rate at year end |  | 1.82% |  | 1.65% |  | 1.78%
Maximum amount outstanding during the year | $ | 347,000 | $ | 232,000 | $ | 89,632
Average amount outstanding during the year | $ | 237,372 | $ | 187,004 | $ | 18,658
Facility fees | $ | 201 | $ | 336 | $ | 301

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