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v3.19.3

Borrowings (Table Text Block) | 3 Months Ended | 6 Months Ended
--- | --- | ---
Sep. 30, 2019 | Sep. 30, 2019
Debt Instruments [Abstract] |  |
Long-Term Debt |  |
|  |  |  |  |  |  |  |  |  |  | September 30, |  | March 31,
| 2020 Rates (a) |  |  | Maturities |  | 2019 |  | 2019
|  |  |  |  |  |  |  | (Unaudited) |  |
|  |  |  |  |  |  |  | (In thousands)
Real estate loan (amortizing term) |  |  |  | 3.55 | % |  |  |  | 2023 | $ | 97,913 | $ | 102,913
Senior mortgages | 3.36 | % | - | 6.62 | % |  | 2021 | - | 2038 |  | 1,876,499 |  | 1,741,652
Real estate loans (revolving credit) | 3.03 | % | - | 3.61 | % |  | 2022 | - | 2024 |  | 435,000 |  | 429,400
Fleet loans (amortizing term) | 1.95 | % | - | 4.66 | % |  | 2020 | - | 2027 |  | 262,984 |  | 263,209
Fleet loans (revolving credit) | 3.25 | % | - | 3.27 | % |  | 2022 | - | 2024 |  | 570,000 |  | 530,000
Finance/capital leases (rental equipment) | 1.92 | % | - | 5.04 | % |  | 2019 | - | 2026 |  | 861,751 |  | 1,042,652
Finance liability (rental equipment) | 2.97 | % | - | 4.22 | % |  | 2024 | - | 2026 |  | 339,387 |  | 0
Other obligations | 2.75 | % | - | 8.00 | % |  | 2019 | - | 2048 |  | 83,503 |  | 82,417
Notes, loans and finance/capital leases payable |  |  |  |  |  |  |  |  |  | 4,527,037 |  | 4,192,243
Less: Debt issuance costs |  |  |  |  |  |  |  |  |  |  | (29,125) |  | (28,920)
Total notes, loans and finance/capital leases payable, net |  |  |  |  | $ | 4,497,912 | $ | 4,163,323
(a) Interest rates as of September 30, 2019, including the effect of applicable hedging instruments. |  |  |  |
Annual Maturities of Notes, Loans and Leases Payable |  |
|  | Year Ended September 30,
|  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | Thereafter
|  | (Unaudited)
|  | (In thousands)
Notes, loans and finance/capital leases payable, secured | $ | 491,098 | $ | 401,307 | $ | 907,853 | $ | 525,138 | $ | 770,782 | $ | 1,430,859
Components of interest expense |
|  | Quarter Ended September 30,
|  | 2019 |  | 2018
|  | (Unaudited)
|  | (In thousands)
Interest expense | $ | 44,743 | $ | 36,220
Capitalized interest |  | (6,669) |  | (2,227)
Amortization of transaction costs |  | 1,047 |  | 881
Interest expense resulting from cash flow hedges |  | 1 |  | 156
Total interest expense | $ | 39,122 | $ | 35,030
|  | Six Months Ended September 30,
|  | 2019 |  | 2018
|  | (Unaudited)
|  | (In thousands)
Interest expense | $ | 88,074 | $ | 70,416
Capitalized interest |  | (12,168) |  | (2,646)
Amortization of transaction costs |  | 2,100 |  | 1,842
Interest expense resulting from cash flow hedges |  | 4 |  | 672
Total interest expense | $ | 78,010 | $ | 70,284
Interest rates and company borrowings |
|  | Revolving Credit Activity |
|  | Quarter Ended September 30, |
|  | 2019 |  | 2018 |
|  | (Unaudited) |
|  | (In thousands, except interest rates) |
Weighted average interest rate during the quarter |  | 3.50 | % | 3.06 | %
Interest rate at the end of the quarter |  | 3.36 | % | 2.81 | %
Maximum amount outstanding during the quarter | $ | 1,015,000 | $ | 705,000 |
Average amount outstanding during the quarter | $ | 1,004,348 | $ | 585,924 |
Facility fees | $ | 45 | $ | 128 |
|  | Revolving Credit Activity |
|  | Six Months Ended September 30, |
|  | 2019 |  | 2018 |
|  | (Unaudited) |
|  | (In thousands, except interest rates) |
Weighted average interest rate during the period |  | 3.61 | % | 3.08 | %
Interest rate at the end of the period |  | 3.36 | % | 2.81 | %
Maximum amount outstanding during the period | $ | 1,015,000 | $ | 705,000 |
Average amount outstanding during the period | $ | 985,954 | $ | 542,186 |
Facility fees | $ | 107 | $ | 272 |

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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