v3.25.4

Long-Term Debt (Tables) | 9 Months Ended
--- | ---
Dec. 31, 2025
Long-Term Debt |
Schedule of long-term debt | Our long-term debt consists of the following at the dates indicated:
|  | December 31, 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”) |  | $ | 92,000 |  |  |  |  | $ | 92,000 |  |  | $ | 109,000 |  |  |  |  | $ | 109,000 |
Senior secured term loan "B" credit facility (“Term Loan B”) |  | 687,750 |  |  | $ | (15,015) |  |  | 672,735 |  |  | 693,000 |  |  | $ | (16,479) |  |  | 676,521 |
Senior secured notes: |  |  |  |  |  |  |  |  |  |  |  |
8.125% Notes due 2029 (“2029 Senior Secured Notes”) |  | 900,000 |  |  | (8,240) |  |  | 891,760 |  |  | 900,000 |  |  | (10,219) |  |  | 889,781 |
8.375% Notes due 2032 (“2032 Senior Secured Notes”) |  | 1,281,000 |  |  | (14,411) |  |  | 1,266,589 |  |  | 1,300,000 |  |  | (16,416) |  |  | 1,283,584 |
Other long-term debt |  | 10,314 |  |  | (25) |  |  | 10,289 |  |  | 11,652 |  |  | (30) |  |  | 11,622 |
Total long-term debt |  | 2,971,064 |  |  | (37,691) |  |  | 2,933,373 |  |  | 3,013,652 |  |  | (43,144) |  |  | 2,970,508 |
Less: Current maturities |  | 8,918 |  |  | — |  |  | 8,918 |  |  | 8,805 |  |  | — |  |  | 8,805 |
Long-term debt |  | $ | 2,962,146 |  |  | $ | (37,691) |  |  | $ | 2,924,455 |  |  | $ | 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 $3.8 million discount.
Schedule of maturities of long-term debt | The scheduled maturities of our long-term debt are as follows at December 31, 2025:
Year Ending March 31, |  | ABL Facility |  | Term Loan B |  | Senior Secured Notes |  | Other Long-Term Debt |  | Total
|  | (in thousands)
2026 (three months) |  | $ | — |  |  | $ | 1,750 |  |  | $ | — |  |  | $ | 468 |  |  | $ | 2,218 |
2027 |  | — |  |  | 7,000 |  |  | — |  |  | 1,957 |  |  | 8,957 |
2028 |  | — |  |  | 7,000 |  |  | — |  |  | 2,120 |  |  | 9,120 |
2029 |  | 92,000 |  |  | 7,000 |  |  | 900,000 |  |  | 2,300 |  |  | 1,001,300 |
2030 |  | — |  |  | 7,000 |  |  | — |  |  | 2,494 |  |  | 9,494 |
2031 |  | — |  |  | 658,000 |  |  | — |  |  | 975 |  |  | 658,975 |
Thereafter |  | — |  |  | — |  |  | 1,281,000 |  |  | — |  |  | 1,281,000 |
Total |  | $ | 92,000 |  |  | $ | 687,750 |  |  | $ | 2,181,000 |  |  | $ | 10,314 |  |  | $ | 2,971,064 |
Schedule of future amortization expense of debt issuance costs | The following table summarizes expected amortization of debt issuance costs at December 31, 2025 (in thousands):
Year Ending March 31, |  |
2026 (three months) |  | $ | 1,996 |
2027 |  | 7,949 |
2028 |  | 7,949 |
2029 |  | 7,612 |
2030 |  | 5,310 |
2031 |  | 4,823 |
Thereafter |  | 2,052 |
Total |  | $ | 37,691 |
Repurchases | Senior Secured Notes |
Long-Term Debt |
Schedule of repurchases | The following table summarizes repurchases of Senior Secured Notes for the nine months ended December 31, 2025 (in thousands):
2032 Senior Secured Notes |  |
Notes repurchased (1) |  | $ | 19,000 |
Cash paid (excluding payments of accrued interest) |  | $ | 17,274 |
Gain on early extinguishment of debt (2) |  | $ | 1,492 |
(1) We did not repurchase any notes during the three months ended December 31, 2025. (2) Gain on early extinguishment of debt for the 2032 Senior Secured Notes during the nine months ended December 31, 2025 is inclusive of the write off of debt issuance costs of $0.2 million. The gain is reported within (loss) gain on early extinguishment of liabilities, net within our unaudited condensed consolidated statement of operations.

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