v3.26.1
Long-Term Debt (Tables)
 12 Months Ended
Mar. 31, 2026
Long-Term Debt  
Schedule of long-term debt
Our long-term debt consists of the following at the dates indicated:
March 31, 2026March 31, 2025
Face
Amount		Unamortized
Debt Issuance
Costs (1)		Book
Value		Face
Amount		Unamortized
Debt Issuance
Costs (1)		Book
Value
(in thousands)
Asset-based revolving credit facility (“ABL Facility”)$135,000 $135,000 $109,000 $109,000 
2024 senior secured term loan “B” credit facility (“2024 Term Loan B”)— $— — 693,000 $(16,479)676,521 
2026 senior secured term loan “B” credit facility (“2026 Term Loan B”)950,000 (19,838)930,162 — — — 
Senior secured notes:
8.125% Notes due 2029 (“2029 Senior Secured Notes”)
900,000 (7,580)892,420 900,000 (10,219)889,781 
8.375% Notes due 2032 (“2032 Senior Secured Notes”)
1,281,000 (13,823)1,267,177 1,300,000 (16,416)1,283,584 
Other long-term debt9,847 (23)9,824 11,652 (30)11,622 
Total long-term debt 3,275,847 (41,264)3,234,583 3,013,652 (43,144)2,970,508 
Less: Current maturities11,457 — 11,457 8,805 — 8,805 
Long-term debt$3,264,390 $(41,264)$3,223,126 $3,004,847 $(43,144)$2,961,703 
(1)    Debt issuance costs related to the ABL Facility are reported within intangible assets, rather than as a reduction of the carrying amount of long-term debt. The unamortized debt issuance costs for the 2026 Term Loan B include a $4.7 million discount.
Schedule of maturities of long-term debt
The scheduled maturities of our long-term debt are as follows at March 31, 2026:
Year Ending March 31,ABL Facility2026 Term Loan B Senior Secured
Notes		Other Long-Term DebtTotal
(in thousands)
2027$— $9,500 $— $1,957 $11,457 
2028— 9,500 — 2,120 11,620 
2029135,000 9,500 900,000 2,300 1,046,800 
2030— 9,500 — 2,494 11,994 
2031— 9,500 — 976 10,476 
Thereafter— 902,500 1,281,000 — 2,183,500 
Total$135,000 $950,000 $2,181,000 $9,847 $3,275,847 
Schedule of future amortization expense of debt issuance costs
The following table summarizes expected amortization of debt issuance costs at March 31, 2026 (in thousands):
Year Ending March 31,
2027$7,854 
20287,854 
20297,517 
20305,215 
20315,211 
Thereafter7,613 
Total$41,264 
Redemptions | Senior Secured Notes  
Long-Term Debt  
Schedule of redemptions
The following table summarizes redemptions of Senior Secured Notes for the year ended March 31, 2024 (in thousands):
2026 Senior Secured Notes (1)
Notes redeemed$2,050,000 
Cash paid (excluding payments of accrued interest)$2,088,438 
Loss on early extinguishment of debt$59,014 
(1)    On February 4, 2021, we closed on our private offering of $2.05 billion of 7.500% senior secured notes due 2026 (“2026 Senior Secured Notes”). On February 6, 2024, we redeemed all of the outstanding 2026 Senior Secured Notes. Loss on the early extinguishment of debt for the 2026 Senior Secured Notes during the year ended March 31, 2024 includes the write off of debt issuance costs and other expenses of $20.6 million and a call premium of $38.4 million. The loss is reported within loss on early extinguishment of liabilities, net within our consolidated statement of operations.
Redemptions | Senior unsecured notes  
Long-Term Debt  
Schedule of redemptions
The following table summarizes redemptions of Senior Unsecured Notes for the year ended March 31, 2024 (in thousands):
2025 Notes (1)
Notes redeemed$280,745 
Cash paid (excluding payments of accrued interest)$280,745 
Loss on early extinguishment of debt$978 
2026 Notes (2)
Notes redeemed$319,902 
Cash paid (excluding payments of accrued interest)$319,902 
Loss on early extinguishment of debt$2,159 
(1)    On February 20, 2024, we redeemed all of the remaining outstanding 2025 Notes. Loss on the early extinguishment of debt for the 2025 Notes during the year ended March 31, 2024 includes the write off of debt issuance costs and other expenses of $1.0 million. The loss is reported within loss on early extinguishment of liabilities, net within our consolidated statement of operations.
(2)    On February 2, 2024, we deposited $331.9 million with the trustee for the redemption of the 2026 Notes, which included the repayment of accrued and unpaid interest of $12.0 million. As we met the requirements of discharge under the 2026 indenture dated February 4, 2021, we no longer had this liability as of March 31, 2024. Loss on the early extinguishment of debt for the 2026 Notes during the year ended March 31, 2024 includes the write off of debt issuance costs and other expenses of $2.2 million. The loss is reported within loss on early extinguishment of liabilities, net within our consolidated statement of operations.
Repurchases | Senior Secured Notes  
Long-Term Debt  
Schedule of redemptions
The following table summarizes repurchases of Senior Secured Notes for the year ended March 31, 2026 (in thousands):
2032 Senior Secured Notes
Notes repurchased $19,000 
Cash paid (excluding payments of accrued interest)$17,274 
Gain on early extinguishment of debt (1)$1,492 
(1)    Gain on early extinguishment of debt for the 2032 Senior Secured Notes during the year ended March 31, 2026 is inclusive of the write off of debt issuance costs of $0.2 million. The gain is reported within loss on early extinguishment of liabilities, net within our consolidated statement of operations.
Repurchases | Senior unsecured notes  
Long-Term Debt  
Schedule of redemptions
The following table summarizes repurchases of Senior Unsecured Notes for the year ended March 31, 2024 (in thousands):
2025 Notes
Notes repurchased$99,275 
Cash paid (excluding payments of accrued interest)$91,982 
Gain on early extinguishment of debt (1)$6,906 
(1)    Gain on early extinguishment of debt for the 2025 Notes during the year ended March 31, 2024 is inclusive of the write off of debt issuance costs of $0.4 million. The gain is reported within loss on early extinguishment of liabilities, net within our consolidated statement of operations.
Repurchases | 2024 Term Loan B Credit Facility  
Long-Term Debt  
Schedule of redemptions
The following table summarizes the repayment of the existing 2024 Term Loan B for the year ended March 31, 2026 (in thousands):

2024 Term Loan B (1)
2024 Term Loan B repayment $687,750 
Cash paid (excluding payments of accrued interest)$687,750 
Loss on early extinguishment of debt$15,508 
(1)    On March 12, 2026, as part of our debt refinancing transaction, we repaid our 2024 Term Loan B. Loss on the early extinguishment of debt for the 2024 Term Loan B during the year ended March 31, 2026, includes the write off of debt issuance costs and other expenses of $15.5 million. The loss is reported within loss on early extinguishment of liabilities, net within our consolidated statement of operations.