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Long-Term Debt | 9 Months Ended
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Dec. 31, 2020
Debt Disclosure [Abstract] |
Long-Term Debt | Long-Term Debt Long-term debt consists of the following, as of the dates indicated:
(In thousands, except percentages) |  | December 31, 2020 |  | March 31, 2020
2016 Senior Notes bearing interest at 6.375%, with interest payable on March 1 and September 1 of each year. The 2016 Senior Notes mature on March 1, 2024. |  | $ | 600,000 |  |  | $ | 600,000 |
2019 Senior Notes bearing interest at 5.125%, with interest payable on January 15 and July 15 of each year. The 2019 Senior Notes mature on January 15, 2028. |  | 400,000 |  |  | 400,000 |
2012 Term B-5 Loans bearing interest at the Borrower's option at either LIBOR plus a margin of 2.00%, with a LIBOR floor of 0.00%, or an alternate base rate plus a margin of 1.00%, with a base rate floor of 1.00%, due on January 26, 2024. |  | 560,000 |  |  | 690,000 |
2012 ABL Revolver bearing interest at the Borrower's option at either a base rate plus applicable margin or LIBOR plus applicable margin. Any unpaid balance is due on December 11, 2024. |  | — |  |  | 55,000 |
Long-term debt |  | 1,560,000 |  |  | 1,745,000 |
Less: unamortized debt costs |  | (11,308) |  |  | (14,700) |
Long-term debt, net |  | $ | 1,548,692 |  |  | $ | 1,730,300 |
At December 31, 2020, we had no balance outstanding on the asset-based revolving credit facility entered into January 31, 2012, as amended (the "2012 ABL Revolver") and a borrowing capacity of $123.3 million. Interest Rate Swaps: We currently have two interest rate swaps to hedge a total of $400.0 million of our variable interest debt (see Note 9 for further details). As of December 31, 2020, aggregate future principal payments required in accordance with the terms of the 2012 Term B-5 Loans, 2012 ABL Revolver and the indentures governing the senior unsecured notes due 2024 (the "2016 Senior Notes") and the senior unsecured notes due 2028 (the "2019 Senior Notes") are as follows:
(In thousands) |
Year Ending March 31, | Amount
2021 (remaining three months ending March 31, 2021) | $ | — |
2022 |  | — |
2023 |  | — |
2024 |  | 1,160,000 |
2025 |  | — |
Thereafter | 400,000 |
| $ | 1,560,000 |

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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