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Fair Value Measurements (Tables)

3 Months Ended

Jun. 30, 2021

Fair Value Disclosures [Abstract]

Assets and Liabilities Required to be Carried at Fair Value on a Recurring Basis

The following table sets forth the assets and liabilities required to be carried at fair value on a recurring basis as of June 30, 2021 and March 31, 2021:

			June 30, 2021																		March 31, 2021
			Level 1						Level 2						Total						Level 1						Level 2						Total
Assets:			(Amounts in millions)
Available-for-sale equity securities			$	1.1					$	—					$	1.1					$	1.8					$	—					$	1.8
Forward exchange contracts (see Note 16)			—						0.5						0.5						—						1.5						1.5
Interest rate swaps (see Note 16)(1)			—						119.8						119.8						—						149.0						149.0
Liabilities:
Forward exchange contracts (see Note 16)			—						(1.5)						(1.5)						—						(2.6)						(2.6)
Interest rate swaps (see Note 16)			—						(81.8)						(81.8)						—						(78.4)						(78.4)

________________

(1)Amounts at June 30, 2021 and March 31, 2021 exclude $95.7 million and $98.2 million, respectively, of financing component of interest rate swaps presented in the table below.

Carrying Values and Fair Values of Assets and Liabilities Not Required to be Carried at Fair Value on a Recurring Basis

The following table sets forth the carrying values and fair values of the Company’s outstanding debt, production loans, Production Tax Credit Facility and interest rate swaps at June 30, 2021 and March 31, 2021:

			June 30, 2021												March 31, 2021
			(Amounts in millions)
			Carrying Value						Fair Value(1)						Carrying Value						Fair Value(1)
									(Level 2)												(Level 2)
Term Loan A			$	646.0					$	644.8					$	651.4					$	647.6
Term Loan B			889.3						891.3						942.8						936.0
5.500% Senior Notes			963.1						1,052.5						—						—
5.875% Senior Notes			—						—						506.7						533.9
6.375% Senior Notes			—						—						540.8						563.0
Production loans			473.7						474.6						372.5						373.5
Production Tax Credit Facility			181.3						184.5						116.5						120.0
Financing component of interest rate swaps(2)			147.9						142.0						152.5						144.7

________________

(1)The Company measures the fair value of its outstanding debt and interest rate swaps using discounted cash flow techniques that use observable market inputs, such as LIBOR-based yield curves, swap rates, and credit ratings (Level 2 measurements).

(2)Amounts at June 30, 2021 and March 31, 2021 include $95.7 million and $98.2 million, respectively, recorded as a reduction of assets under master netting arrangements.

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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- References

No definition available.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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