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Interest on Borrowings | 12 Months Ended
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Mar. 31, 2019
Interest Expense, Borrowings [Abstract] |
Interest on Borrowings | Interest Expense Components of interest expense include the following:
|  | Years Ended March 31,
|  | 2019 |  | 2018 |  | 2017
|  | (In thousands)
Interest expense | $ | 150,609 | $ | 125,412 | $ | 106,221
Capitalized interest |  | (12,733) |  | (6,466) |  | (4,863)
Amortization of transaction costs |  | 3,745 |  | 3,867 |  | 3,445
Interest expense resulting from cash flow hedges |  | 824 |  | 3,893 |  | 8,603
Total interest expense |  | 142,445 |  | 126,706 |  | 113,406
Amortization on early extinguishment of debt |  | – |  | – |  | 499
Total | $ | 142,445 | $ | 126,706 | $ | 113,905
Interest paid in cash, including payments related to derivative contracts, amounted to $149.8 million, $129.3 million and $113.7 million for fiscal 2019, 2018 and 2017, respectively. Interest Rates Interest rates and our revolving credit borrowings were as follows:
|  | Revolving Credit Activity
|  | Years Ended March 31,
|  | 2019 |  | 2018 |  | 2017
|  | (In thousands, except interest rates)
Weighted average interest rate during the year |  | 3.39% |  | 2.48% |  | 1.83%
Interest rate at year end |  | 3.60% |  | 2.84% |  | 2.06%
Maximum amount outstanding during the year | $ | 959,400 | $ | 538,000 | $ | 597,000
Average amount outstanding during the year | $ | 699,415 | $ | 517,997 | $ | 477,888
Facility fees | $ | 374 | $ | 410 | $ | 158

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