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Long-Term Obligations | 12 Months Ended
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Mar. 31, 2014
Debt Disclosure [Abstract] |
Long-term Debt [Text Block] | LONG-TERM OBLIGATIONS The Company's long-term obligations at March 31, 2014 and 2013 consisted of the following:
| March 31,
| 2014 |  | 2013
Medium-term notes | $ | 100,000 |  |  | $ | 300,000 |
Senior bank term loan | 175,000 |  |  | — |
Amortizing senior bank term loan | 81,250 |  |  | 92,500 |
Total outstanding | 356,250 |  |  | 392,500 |
Less: current portion | (116,250 | ) |  | (211,250 | )
Long-term obligations | $ | 240,000 |  |  | $ | 181,250 |
During fiscal year 2014, the Company repaid at maturity its $200 million principal amount 5.2% medium term notes and subsequently entered into a new $175 million senior term loan agreement with a group of banks. The Company's remaining medium-term notes at March 31, 2014 bear interest at 6.25% and mature in December 2014. The senior bank term loan is unsecured, matures in October 2018, and provides for incremental term loans in an amount up to $75 million at the Company's option, subject to customary conditions. Loans outstanding under the agreement currently bear interest at LIBOR plus 1.50% (1.69% at March 31, 2014) and may be prepaid at any time without premium or penalty. As discussed in Note 6, the amortizing bank term loan was arranged in fiscal year 2012 under a bank credit agreement that included a revolving credit facility. The original amount of the amortizing term loan was $100 million, and it is being repaid in quarterly installments that began on March 31, 2012, increase annually, and conclude with a final payment due November 3, 2016. The amortizing term loan may be prepaid at any time without penalty or premium at the option of the Company. The interest rate swaps on the loan convert the floating LIBOR base rate to a fixed base rate. Including the effect of the swaps and the facility margin, the interest rate on the term loan was 2.91% at March 31, 2014. The swap agreements were designated as cash flow hedges of the variable rate interest payments on the loan. The aggregate notional amount of the swaps, which is being reduced as quarterly payments are made over the term of the loan, was $81.3 million at March 31, 2014, and $92.5 million at March 31, 2013. The fair value of the interest rate swap agreements was a liability of $0.9 million at March 31, 2014. Additional disclosures related to the Company’s interest rate swap agreements are provided in Note 9. Maturities of long-term debt outstanding at March 31, 2014, by fiscal year, were as follows: 2015 – $116.3 million; 2016 – $27.5 million; 2017 – $37.5 million; 2018 – none; and 2019 – $175.0 million All long-term debt outstanding at March 31, 2014, is scheduled to be repaid by the end of fiscal year 2019. In November 2011, the Company filed an undenominated universal shelf registration statement with the U.S. Securities and Exchange Commission to provide for the future issuance of an undefined amount of additional debt or equity securities as determined by the Company and offered in one or more prospectus supplements prior to issuance. Disclosures about the fair value of long-term obligations are provided in Note 10.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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