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DEBT
9 Months Ended
Dec. 31, 2015
Debt Disclosure [Abstract]  
DEBT
DEBT

The Company's notes payable consist of a $600.0 million senior revolving credit facility with borrowings of $511.9 million outstanding on the borrowing facility and $1.5 million standby letters of credit related to workers compensation and surety bonds outstanding at December 31, 2015. To the extent that the letters of credit are drawn upon, the disbursement will be funded by the credit facility. There are no amounts due related to the letters of credit as of December 31, 2015 and they expire on December 31, 2016. The Letters of Credit are automatically extended for one year on the expiration date. The base credit facility will reduce from $600.0 million to $500.0 million on March 31, 2016 and to $400.0 million on March 31, 2017. Subject to a borrowing base formula, the Company may borrow at the rate of LIBOR plus 4.0% with a minimum rate of 5.0%.  For the nine months ended December 31, 2015 and fiscal year ended March 31, 2015, the Company’s effective interest rate, including the commitment fee, was 5.4% and 4.3%, respectively, and the unused amount available under the revolver at December 31, 2015 was $86.6 million. The revolving credit facility has a commitment fee of 0.50% per annum on the unused portion of the commitment. Borrowings under the revolving credit facility mature on June 15, 2017.

Substantially all of the Company’s assets, excluding the assets of the Company's Mexican subsidiaries, are pledged as collateral for borrowings under the revolving credit agreement.