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INTEREST EXPENSE
9 Months Ended
Dec. 31, 2012
INTEREST EXPENSE

(N) INTEREST EXPENSE

The following components are included in interest expense, net:

 

     For the Three Months
Ended  December 31,
    For the Nine Months
Ended December 31,
 
     2012     2011     2012     2011  
     (dollars in thousands)     (dollars in thousands)  

Interest (Income)

   $ (48   $ (3   $ (52   $ (5

Interest Expense

     3,556        4,425        10,449        13,340   

Interest Expense – Income Taxes

     100        (426     288        (426

Other Expenses

     228        214        464        443   
  

 

 

   

 

 

   

 

 

   

 

 

 

Interest Expense, net

   $ 3,836      $ 4,210      $ 11,149      $ 13,352   
  

 

 

   

 

 

   

 

 

   

 

 

 

Interest income includes interest on investments of excess cash. Components of interest expense include interest associated with the Senior Notes, Credit Facility and commitment fees based on the unused portion of the Credit Facility. Other expenses include amortization of debt issuance costs, and credit facility costs.

Interest Expense – Income Taxes relates to interest accrued on our unrecognized tax benefits, primarily related to our acquisition of the Republic Assets in November 2000. There was no expense recorded for the three and nine month periods ended December 31, 2011, as we filed amended tax returns with several states that offered amnesty for certain penalties and interest. Due to the amnesty relief, we received credits during the quarter ended December 31, 2011 for interest accrued in previous quarters.