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Debt (Tables)
 12 Months Ended
Mar. 31, 2020
Debt Disclosure [Abstract]  
Schedule of Debt Instruments

Debt obligations included in the consolidated balance sheets consisted of the following (in millions):
 
Coupon Interest Rate
 
Effective Interest Rate
 
Fair Value of Liability Component at Issuance (1)
 
March 31,
 
 
 
 
2020
 
2019
Senior Secured Indebtedness
 
 
 
 
 
 
 
 
 
Revolving Credit Facility
 
 
 
 
 
 
$
2,388.5

 
$
3,266.5

Term Loan Facility
 
 
 
 
 
 
1,723.5

 
1,911.5

Bridge Loan Facility
 
 
 
 
 
 
615.0

 
—

2023 Notes, maturing June 1, 2023 ("2023 Notes")
4.333%
 
4.7%
 
 
 
1,000.0

 
1,000.0

2021 Notes, maturing June 1, 2021 ("2021 Notes")
3.922%
 
4.5%
 
 
 
1,000.0

 
1,000.0

Total Senior Secured Indebtedness
 
 
 
 
 
 
6,727.0

 
7,178.0

Senior Subordinated Convertible Debt - Principal Outstanding
 
 
 
 
2017 Senior Convertible Debt, maturing February 15, 2027 ("2017 Senior Convertible Debt")
1.625%
 
6.0%
 
$1,396.3
 
$
2,070.0

 
$
2,070.0

2015 Senior Convertible Debt, maturing February 15, 2025 ("2015 Senior Convertible Debt")
1.625%
 
5.9%
 
$916.8
 
1,110.0

 
1,725.0

Junior Subordinated Convertible Debt - Principal Outstanding
 
 
 
 
2017 Junior Convertible Debt, maturing February 15, 2037 ("2017 Junior Convertible Debt")
2.250%
 
7.4%
 
$321.1
 
686.3

 
686.3

Total Convertible Debt
 
 
 
 
 
 
3,866.3

 
4,481.3

 
 
 
 
 
 
 
 
 
 
Gross long-term debt including current maturities
 
 
 
 
 
 
10,593.3

 
11,659.3

Less: Debt discount (2)
 
 
 
 
 
 
(1,043.2
)
 
(1,268.7
)
Less: Debt issuance costs (3)
 
 
 
 
 
 
(67.9
)
 
(83.6
)
Net long-term debt including current maturities
 
 
 
 
 
 
9,482.2

 
10,307.0

Less: Current maturities (4)
 
 
 
 
 
 
(608.8
)
 
(1,360.8
)
Net long-term debt
 
 
 
 
 
 
$
8,873.4

 
$
8,946.2

 
 
 
 
 
 
 
 
 
 

(1) As each of the convertible debt instruments may be settled in cash upon conversion, for accounting purposes, they were bifurcated into a liability component and an equity component, which are both initially recorded at fair value.  The amount allocated to the equity component is the difference between the principal value of the instrument and the fair value of the liability component at issuance.  The resulting debt discount is being amortized to interest expense at the respective effective interest rate over the contractual term of the debt.

(2) The unamortized discount consists of the following (in millions):  
 
March 31,
 
2020
 
2019
Bridge Loan Facility
$
(3.1
)
 
$
—

2023 Notes
(3.5
)
 
(4.4
)
2021 Notes
(2.1
)
 
(3.8
)
2017 Senior Convertible Debt
(504.2
)
 
(561.9
)
2015 Senior Convertible Debt
(192.9
)
 
(351.4
)
2017 Junior Convertible Debt
(337.4
)
 
(347.2
)
Total unamortized discount
$
(1,043.2
)
 
$
(1,268.7
)

(3) Debt issuance costs consist of the following (in millions):
 
March 31,
 
2020
 
2019
Revolving Credit Facility
$
(14.6
)
 
$
(14.7
)
Term Loan Facility
(14.6
)
 
(19.4
)
Bridge Loan Facility
(3.1
)
 
—

2023 Notes
(7.7
)
 
(10.2
)
2021 Notes
(4.8
)
 
(8.8
)
2017 Senior Convertible Debt
(13.0
)
 
(14.5
)
2015 Senior Convertible Debt
(7.0
)
 
(12.8
)
2017 Junior Convertible Debt
(3.1
)
 
(3.2
)
Total debt issuance costs
$
(67.9
)
 
$
(83.6
)


(4) As of March 31, 2020, current maturities include the Bridge Loan Facility. As of March 31, 2019, current maturities consists of the liability component of the 2015 Senior Convertible Debt, as the debentures were convertible.
Schedule of Maturities of Long-term Debt
Expected maturities relating to the Company’s debt obligations as of March 31, 2020 are as follows (in millions):
Fiscal year ending March 31,
 
Expected Maturities
2021
 
$
615.0

2022
 
1,000.0

2023
 
—

2024
 
3,388.5

2025
 
1,110.0

Thereafter
 
4,479.8

Total
 
$
10,593.3
Convertible Debt
The following table sets forth the applicable Conversion Rates adjusted for dividends declared since issuance of such series of Convertible Debt and the applicable Incremental Share Factors and Maximum Conversion Rates as adjusted for dividends paid since the applicable issuance date:
 
Dividend adjusted rates as of March 31, 2020
 
Conversion Rate
 
Approximate Conversion Price
 
Incremental Share Factor
 
Maximum Conversion Rate
2017 Senior Convertible Debt (1)
10.4562

 
$
95.64

 
5.2281

 
14.9001

2015 Senior Convertible Debt (1)
16.3058

 
$
61.33

 
8.1529

 
22.8280

2017 Junior Convertible Debt (1)
10.6430

 
$
93.96

 
5.3215

 
14.9001



(1) As of March 31, 2020, the 2017 Senior Convertible Debt, the 2015 Senior Convertible Debt and the 2017 Junior Convertible Debt were not convertible. As of March 31, 2020, the 2015 Senior Convertible Debt had a value if converted above par of $175.7 million.
Schedule of Interest Expense
Interest expense consists of the following (in millions):
 
Year Ended March 31,
 
2020
 
2019
 
2018
Debt issuance amortization
$
13.2

 
$
12.9

 
$
3.1

Debt discount amortization
2.9

 
2.2

 
—

Interest expense
277.6

 
291.8

 
6.6

Total interest expense on Senior Secured Indebtedness
293.7

 
306.9

 
9.7

Debt issuance amortization
3.9

 
3.6

 
3.5

Debt discount amortization
118.8

 
112.4

 
106.1

Coupon interest expense
77.2

 
77.1

 
77.3

Total interest expense on Convertible Debt
199.9

 
193.1

 
186.9

Other interest expense
3.7

 
2.9

 
2.4

Total interest expense
$
497.3

 
$
502.9

 
$
199.0