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v3.25.2

Long-Term Debt (Tables) | 3 Months Ended
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Jun. 30, 2025
Long-Term Debt |
Schedule of long-term debt | Our long-term debt consists of the following at the dates indicated:
|  | June 30, 2025 |  | March 31, 2025
|  | Face Amount |  | Unamortized Debt Issuance Costs (1) |  | Book Value |  | Face Amount |  | Unamortized Debt Issuance Costs (1) |  | Book Value
|  | (in thousands)
Asset-based revolving credit facility (“ABL Facility”) |  | $ | 37,000 |  |  |  |  | $ | 37,000 |  |  | $ | 109,000 |  |  |  |  | $ | 109,000 |
Senior secured term loan "B" credit facility (“Term Loan B”) |  | 691,250 |  |  | $ | (15,836) |  |  | 675,414 |  |  | 693,000 |  |  | $ | (16,479) |  |  | 676,521 |
Senior secured notes: |  |  |  |  |  |  |  |  |  |  |  |
8.125% Notes due 2029 (“2029 Senior Secured Notes”) |  | 900,000 |  |  | (9,560) |  |  | 890,440 |  |  | 900,000 |  |  | (10,219) |  |  | 889,781 |
8.375% Notes due 2032 (“2032 Senior Secured Notes”) |  | 1,281,000 |  |  | (15,587) |  |  | 1,265,413 |  |  | 1,300,000 |  |  | (16,416) |  |  | 1,283,584 |
Other long-term debt |  | 11,215 |  |  | (27) |  |  | 11,188 |  |  | 11,652 |  |  | (30) |  |  | 11,622 |
Total long-term debt |  | 2,920,465 |  |  | (41,010) |  |  | 2,879,455 |  |  | 3,013,652 |  |  | (43,144) |  |  | 2,970,508 |
Less: Current maturities |  | 8,842 |  |  | — |  |  | 8,842 |  |  | 8,805 |  |  | — |  |  | 8,805 |
Long-term debt |  | $ | 2,911,623 |  |  | $ | (41,010) |  |  | $ | 2,870,613 |  |  | $ | 3,004,847 |  |  | $ | (43,144) |  |  | $ | 2,961,703 |
(1) Debt issuance costs related to the ABL Facility are reported within intangible assets, rather than as a reduction of the carrying amount of long-term debt. The unamortized debt issuance costs for the Term Loan B include a $4.2 million discount.
Schedule of maturities of long-term debt | The scheduled maturities of our long-term debt are as follows at June 30, 2025:
Year Ending March 31, |  | ABL Facility |  | Term Loan B |  | Senior Secured Notes |  | Other Long-Term Debt |  | Total
|  | (in thousands)
2026 (nine months) |  | $ | — |  |  | $ | 5,250 |  |  | $ | — |  |  | $ | 1,368 |  |  | $ | 6,618 |
2027 |  | — |  |  | 7,000 |  |  | — |  |  | 1,957 |  |  | 8,957 |
2028 |  | — |  |  | 7,000 |  |  | — |  |  | 2,120 |  |  | 9,120 |
2029 |  | 37,000 |  |  | 7,000 |  |  | 900,000 |  |  | 2,300 |  |  | 946,300 |
2030 |  | — |  |  | 7,000 |  |  | — |  |  | 2,494 |  |  | 9,494 |
2031 |  | — |  |  | 658,000 |  |  | — |  |  | 976 |  |  | 658,976 |
Thereafter |  | — |  |  | — |  |  | 1,281,000 |  |  | — |  |  | 1,281,000 |
Total |  | $ | 37,000 |  |  | $ | 691,250 |  |  | $ | 2,181,000 |  |  | $ | 11,215 |  |  | $ | 2,920,465 |
Schedule of future amortization expense of debt issuance costs | The following table summarizes expected amortization of debt issuance costs at June 30, 2025 (in thousands):
Year Ending March 31, |  |
2026 (nine months) |  | $ | 5,925 |
2027 |  | 7,823 |
2028 |  | 7,823 |
2029 |  | 7,486 |
2030 |  | 5,184 |
2031 |  | 4,717 |
Thereafter |  | 2,052 |
Total |  | $ | 41,010 |
Repurchases | Senior Secured Notes |
Long-Term Debt |
Schedule of repurchases | The following table summarizes repurchases of Senior Secured Notes for the quarter ended June 30, 2025 (in thousands):
2032 Senior Secured Notes |  |
Notes repurchased |  | $ | 19,000 |
Cash paid (excluding payments of accrued interest) |  | $ | 17,274 |
Gain on early extinguishment of debt (1) |  | $ | 1,492 |
(1) Gain on early extinguishment of debt for the 2032 Senior Secured Notes during the quarter ended June 30, 2025 is inclusive of the write off of debt issuance costs of $0.2 million. The gain is reported within gain on early extinguishment of liabilities, net within our unaudited condensed consolidated statement of operations.

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