XML 37 R26.htm IDEA: XBRL DOCUMENT v3.22.0.1
Borrowings (Table Text Block)
3 Months Ended 9 Months Ended
Dec. 31, 2021
Dec. 31, 2021
Debt Instruments [Abstract]    
Long-Term Debt                         December 31,   March 31,   2022 Rates     Maturities   2021   2021                 (Unaudited)                     (In thousands) Real estate loan (amortizing term)       1.61 %       2023 $ 51,925 $   82,913 Senior mortgages 2.70 % - 5.50 %   2022 - 2042   2,199,110   2,125,324 Real estate loans (revolving credit) (a) 1.34 % - 3.14 %   2023 - 2025   535,000   535,000 Fleet loans (amortizing term) 1.61 % - 4.66 %   2022 - 2028   136,790   176,295 Fleet loans (revolving credit) 1.25 %   2.36 %   2024 - 2026   550,000   535,000 Finance leases (rental equipment) 1.92 % - 5.04 %   2022 - 2026   384,505   513,623 Finance liability (rental equipment) 1.60 % - 4.22 %   2024 - 2029   886,254   644,375 Private placements 2.43 %   2.78 %   2029 - 2033   600,000   – Other obligations 1.50 % - 8.00 %   2022 - 2049   87,777   86,085 Notes, loans and finance leases payable                   5,431,361   4,698,615 Less: Debt issuance costs                     (33,505)   (29,708) Total notes, loans and finance leases payable, net         $ 5,397,856 $   4,668,907                             (a) Certain loans have interest rate swaps fixing the rate between 3.03% and 3.14% based on current margins.   
Annual Maturities of Notes, Loans and Leases Payable       Year Ending December 31,     2022   2023   2024   2025   2026   Thereafter     (Unaudited)     (In thousands) Notes, loans and finance leases payable, secured$ 515,591 $ 611,940 $ 1,084,053 $ 539,695 $ 661,676 $ 2,018,406
Components of interest expense     Quarter Ended December 31,     2021   2020     (Unaudited)     (In thousands) Interest expense $ 43,850 $ 41,371 Capitalized interest   (2,222)   (2,105) Amortization of transaction costs   1,407   1,890 Interest expense resulting from cash flow hedges   1,007   972 Total interest expense   44,042   42,128 Fees on early extinguishment of debt   956   – Total $ 44,998 $ 42,128     Nine Months Ended December 31,     2021   2020     (Unaudited)     (In thousands) Interest expense $ 122,589 $ 124,882 Capitalized interest   (6,974)   (10,033) Amortization of transaction costs   4,153   4,645 Interest expense resulting from cash flow hedges   2,997   2,680 Total interest expense   122,765   122,174 Fees on early extinguishment of debt   956   – Total $ 123,721 $ 122,174
Interest rates and company borrowings     Revolving Credit Activity       Quarter Ended December 31,       2021   2020       (Unaudited)       (In thousands, except interest rates)   Weighted average interest rate during the period   1.38 % 1.66 % Interest rate at the end of the period   1.39 % 1.65 % Maximum amount outstanding during the period $ 1,085,000 $ 1,082,000   Average amount outstanding during the period $ 1,081,283 $ 1,057,380   Facility fees$ 66 $ 91       Revolving Credit Activity       Nine Months Ended December 31,       2021   2020       (Unaudited)       (In thousands, except interest rates)   Weighted average interest rate during the period   1.38 % 1.65 % Interest rate at the end of the period   1.39 % 1.65 % Maximum amount outstanding during the period $ 1,093,000 $ 1,175,000   Average amount outstanding during the period $ 1,081,571 $ 1,092,382   Facility fees$ 198 $ 185