Long-Term Debt |
Long-term debt was as follows:
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March 31, |
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Fiscal Year 2024 Interest Rates |
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Maturities |
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Weighted Avg Interest Rates (c) |
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2024 |
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2023 |
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(In thousands) |
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Real estate loan (amortizing term) (a) |
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4.30 |
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% |
- |
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6.80 |
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% |
2027 |
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2037 |
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5.90 |
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% |
$ |
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277,767 |
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$ |
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289,647 |
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Senior mortgages |
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2.70 |
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% |
- |
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6.05 |
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% |
2024 |
- |
2042 |
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4.16 |
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% |
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2,284,853 |
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2,371,231 |
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Real estate loans (revolving credit) |
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0.00 |
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% |
- |
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0.00 |
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% |
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2027 |
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0.00 |
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% |
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0 |
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0 |
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Fleet loans (amortizing term) |
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1.61 |
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% |
- |
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5.68 |
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% |
2024 |
- |
2029 |
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3.84 |
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% |
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70,454 |
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111,856 |
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Fleet loans (revolving credit) (b) |
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2.36 |
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% |
- |
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6.68 |
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% |
2026 |
- |
2028 |
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6.45 |
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% |
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573,889 |
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615,000 |
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Finance leases (rental equipment) |
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2.86 |
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% |
- |
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5.01 |
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% |
2024 |
- |
2026 |
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4.10 |
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% |
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117,641 |
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223,205 |
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Finance liability (rental equipment) |
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1.60 |
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% |
- |
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6.80 |
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% |
2024 |
- |
2031 |
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4.69 |
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% |
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1,708,619 |
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1,255,763 |
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Private placements |
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2.43 |
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% |
- |
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2.88 |
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% |
2029 |
- |
2035 |
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2.65 |
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% |
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1,200,000 |
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1,200,000 |
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Other obligations |
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1.50 |
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% |
- |
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8.00 |
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% |
2024 |
- |
2049 |
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6.23 |
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% |
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70,815 |
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76,648 |
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Notes, loans and finance leases payable |
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$ |
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6,304,038 |
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$ |
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6,143,350 |
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Less: Debt issuance costs |
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(32,676 |
) |
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(35,308 |
) |
Total notes, loans and finance leases payable, net |
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$ |
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6,271,362 |
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$ |
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6,108,042 |
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(a)Certain loans have interest rate swaps fixing the rate between 2.72% and 2.86% based on current margin. The weighted average interest rate calculation for these loans was 4.10%, using the swap adjusted interest rate. (b)A loan has an interest rate swap fixing the rate for $100 million of the relevant loan at 4.71% based on current margin. The weighted average interest rate calculation for these loans was 6.34% using the swap adjusted interest rate. (c)Weighted average rates as of March 31, 2024
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Annual Maturities of Notes, Loans and Leases Payable |
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Years Ended March 31, |
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2025 |
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2026 |
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2027 |
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2028 |
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2029 |
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Thereafter |
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Total |
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(In thousands) |
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Notes, loans and finance leases payable, secured |
$ |
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534,979 |
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$ |
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695,136 |
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$ |
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883,221 |
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$ |
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910,625 |
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$ |
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447,633 |
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$ |
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2,832,444 |
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$ |
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6,304,038 |
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