Long-Term Debt (Tables)

9 Months Ended

Dec. 31, 2023

Debt Disclosure [Abstract]

Schedule of long-term debt

Our long-term debt consists of the following at the dates indicated:

	December 31, 2023						March 31, 2023
	Face Amount		Unamortized Debt Issuance Costs (1)		Book Value		Face Amount		Unamortized Debt Issuance Costs (1)		Book Value
	(in thousands)
Senior secured notes:
7.500% Notes due 2026 (“2026 Senior Secured Notes”)	$	2,050,000	$	(19,124)	$	2,030,876	$	2,050,000	$	(26,009)	$	2,023,991
Asset-based revolving credit facility (“ABL Facility”)	55,000				55,000		138,000				138,000
Senior unsecured notes:
6.125% Notes due 2025 (“2025 Notes”)	280,745		(725)		280,020		380,020		(1,612)		378,408
7.5% Notes due 2026 (“2026 Notes”)	319,902		(1,880)		318,022		319,902		(2,496)		317,406
Long-term debt	$	2,705,647	$	(21,729)	$	2,683,918	$	2,887,922	$	(30,117)	$	2,857,805

(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.

Schedule of repurchases

Repurchases

The following table summarizes repurchases of Senior Unsecured Notes for the period indicated:

		Nine Months Ended December 31, 2023
	(in thousands)
2025 Notes
Notes repurchased (1)		$	99,275
Cash paid (excluding payments of accrued interest)		$	91,982
Gain on early extinguishment of debt (2)		$	6,906

(1)    We did not repurchase any 2025 Notes during the three months ended December 31, 2023.

(2)    Gain on early extinguishment of debt for the 2025 Notes during the nine months ended December 31, 2023 is inclusive of the write-off of debt issuance costs of $0.4 million. The gain is reported within gain on early extinguishment of liabilities, net within our unaudited condensed consolidated statement of operations.

Schedule of maturities of long-term debt

The scheduled maturities of our long-term debt are as follows at December 31, 2023:

Fiscal Year Ending March 31,	2026 Senior Secured Notes		ABL Facility		Senior Unsecured Notes		Total
	(in thousands)
2024 (three months)	$	—	$	—	$	—	$	—
2025	—		—		280,745		280,745
2026	2,050,000		55,000		—		2,105,000
2027	—		—		319,902		319,902
Total	$	2,050,000	$	55,000	$	600,647	$	2,705,647

Schedule of future amortization expense of debt issuance costs

The following table summarizes expected amortization of debt issuance costs at December 31, 2023 (in thousands):

Fiscal Year Ending March 31,
2024 (three months)	$	2,656
2025	10,570
2026	8,471
2027	32
Total	$	21,729