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FAIR VALUE OF FINANCIAL INSTRUMENTS
6 Months Ended
Sep. 30, 2016
Fair Value Disclosures [Abstract]  
FAIR VALUE OF FINANCIAL INSTRUMENTS

(P) FAIR VALUE OF FINANCIAL INSTRUMENTS

The fair value of our long-term debt has been estimated based upon our current incremental borrowing rates for similar types of borrowing arrangements. The fair value of our Senior Notes at September 30, 2016 is as follows:

 

 

 

Fair Value

 

 

(dollars in thousands)

Series 2005A Tranche C

 

 

58,814

Series 2007A Tranche B

 

 

8,002

Series 2007A Tranche C

 

 

24,813

Series 2007A Tranche D

 

  

39,730

4.5%  Senior Unsecured Notes Due 2026

 

  

356,195

 

The estimated fair value of our long-term debt was based on quoted prices of similar debt instruments with similar terms that are publicly traded (level 2 input). The carrying values of cash and cash equivalents, accounts and notes receivable, accounts payable and accrued liabilities approximate their fair values at September 30, 2016 due to the short-term maturities of these assets and liabilities. There were no borrowings under our Credit Facility at September 30, 2016.