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Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2022

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 March 31, 2022 and 2021:

			March 31, 2022																		March 31, 2021
			Level 1						Level 2						Total						Level 1						Level 2						Total
Assets:			(Amounts in millions)
Equity securities with a readily determinable fair value			$	0.5					$	—					$	0.5					$	1.8					$	—					$	1.8
Forward exchange contracts (see Note 18)			—						3.5						3.5						—						1.5						1.5
Interest rate swaps (see Note 18)(1)			—						120.1						120.1						—						149.0						149.0
Liabilities:
Forward exchange contracts (see Note 18)			—						(2.8)						(2.8)						—						(2.6)						(2.6)
Interest rate swaps (see Note 18)			—						28.6						28.6						—						(78.4)						(78.4)

________________

(1)Amounts at March 31, 2022 and 2021 exclude $88.1 million and $98.2 million, respectively, of financing component of interest rate swaps recorded as a reduction of assets under master netting arrangements which are 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 and related loans, IP Credit Facility, and interest rate swaps at March 31, 2022 and 2021:

			March 31, 2022												March 31, 2021
			(Amounts in millions)
			Carrying Value						Fair Value(1)						Carrying Value						Fair Value(1)
									(Level 2)												(Level 2)
Term Loan A(2)			$	631.9					$	625.7					$	651.4					$	647.6
Term Loan B			837.5						828.3						942.8						936.0
5.500% Senior Notes			965.8						962.5						—						—
5.875% Senior Notes			—						—						506.7						533.9
6.375% Senior Notes			—						—						540.8						563.0
Production and related loans			1,281.2						1,286.7						489.0						493.5
IP Credit Facility and other financing obligations(3)			120.6						123.5						—						—
Financing component of interest rate swaps(4)			134.0						122.9						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)Subsequent to March 31, 2022, in April 2022, the Company voluntarily prepaid the entire outstanding principal amount of the 2023 Term Loan A of $193.6 million, together with accrued and unpaid interest. See Note 21 - Subsequent Events.

(3)See Note 21 - Subsequent Events for amounts received under the IGR Facility subsequent to March 31, 2022.

(4)Amounts at March 31, 2022 and 2021 include $88.1 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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