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Interest on Borrowings | 12 Months Ended
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Mar. 31, 2017
Interest Expense, Borrowings [Abstract] |
Interest on Borrowings | Interest Expense Components of interest expense include the following:
|  | Years Ended March 31,
|  | 2017 |  | 2016 |  | 2015
|  | (In thousands)
Interest expense | $ | 106,221 | $ | 85,404 | $ | 80,905
Capitalized interest |  | (4,863) |  | (3,623) |  | (1,204)
Amortization of transaction costs |  | 3,445 |  | 3,235 |  | 3,495
Interest expense resulting from derivatives |  | 8,603 |  | 12,699 |  | 14,329
Total interest expense |  | 113,406 |  | 97,715 |  | 97,525
Write-off of transaction costs related to early extinguishment of debt |  | 499 |  | – |  | 298
Fees on early extinguishment of debt |  | – |  | – |  | 3,783
Fees and amortization on early extinguishment of debt |  | 499 |  | – |  | 4,081
Total | $ | 113,905 | $ | 97,715 | $ | 101,606
Interest paid in cash, including payments related to derivative contracts, amounted to $113.7 million, $95.1 million and $95.0 million for fiscal 2017, 2016 and 2015, 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,
|  | 2017 |  | 2016 |  | 2015
|  | (In thousands, except interest rates)
Weighted average interest rate during the year |  | 1.83% |  | 1.67% |  | 1.70%
Interest rate at year end |  | 2.06% |  | 1.82% |  | 1.65%
Maximum amount outstanding during the year | $ | 597,000 | $ | 347,000 | $ | 232,000
Average amount outstanding during the year | $ | 477,888 | $ | 237,372 | $ | 187,004
Facility fees | $ | 158 | $ | 201 | $ | 336

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