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Short-Term Borrowings | 12 Months Ended
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Mar. 31, 2014
Debt Instruments [Abstract] |
Debt Disclosure Text Block | 4. Short-Term Borrowings The Company completed the closing of a new five year revolving credit facility (“Revolver”) on July 20, 2011. During 2013, the Company executed $50.0 million of the $200.0 million accordion feature of the Revolver to expand available borrowings under the Revolver from $250.0 million to $300.0 million from April through July and $350.0 million to $400.0 million from August through March of each year under the Revolver. The maturity date for the R evolver is July 20, 2016. As of March 31, 201 4, the outstanding bala nce of the Revolver was $1 75.0 million, with a weighted average interest rate of 1.65%, and is included in the Long-T erm D ebt on the Consolidated Balance Sheet. The Revolver is secured by accounts receivable and inventories with a carrying value of $5 2 8.4 million. The Company had $10.6 million of outstanding standby letters of credit as of March 31, 201 4 and 20 1 3, which reduce s borrowing availability under the Revolver. See Note 5, Long-Term Debt, for additional comments related to the Revolver. During 2014, the Company entered into some interim lease notes which financed down payments for various equipment orders at market rates. As of March 31, 2014, these interim notes had not been converted into operating leases since the equipment was not yet delivered. Thes e notes, which total $12.3 million as of March 31, 2014, are included in notes payable in the accompanying Consolidated Balance Sheets. These notes are expected to be converted into operating leases within the next twelve months. U ntil then, they bear in terest at an annual rate of 1.65%.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19, 20, 22 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 129 -Paragraph 2, 4 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19,20,22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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