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Financial Instruments and Fair Value Disclosures (Tables)

6 Months Ended

Sep. 30, 2016

Financial Instruments and Fair Value Disclosures

Schedule of financial derivatives

			September 30, 2016						March 31, 2016
		Other non-current assets			Long-term liabilities			Other non-current assets			Long-term liabilities
Derivatives not designated as hedging instruments		Derivative instruments			Derivative instruments			Derivative instruments			Derivative instruments
Interest rate swap agreements		$	—		$	19,489,621		$	—		$	21,647,965

Schedule of effect of derivative instruments on the consolidated statement of operations

				Three months ended
Derivatives not designated as hedging instruments		Location of gain/(loss) recognized		September 30, 2016			September 30, 2015
Interest Rate Swap—Change in fair value		Unrealized gain/(loss) on derivatives		$	6,528,203		$	(5,111,430)
Interest Rate Swap—Realized loss		Realized loss on derivatives			(2,333,915)			(1,230,333)
Gain/(loss) on derivatives, net				$	4,194,288		$	(6,341,763)

				Six months ended
Derivatives not designated as hedging instruments		Location of gain/(loss) recognized		September 30, 2016			September 30, 2015
Interest Rate Swap—Change in fair value		Unrealized gain/(loss) on derivatives		$	2,158,344		$	(3,724,545)
Interest Rate Swap—Realized loss		Realized loss on derivatives			(4,590,703)			(2,474,823)
Gain/(loss) on derivatives, net				$	(2,432,359)		$	(6,199,368)

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- References

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- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5618551-113959

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959

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