Annual report pursuant to Section 13 and 15(d)

Debt (Tables)

v3.19.1
Debt (Tables)
12 Months Ended
Mar. 31, 2019
Debt Disclosure [Abstract]  
Summary of debt
A summary of debt is as follows (amounts in thousands):
 
 
March 31,
 
 
2019
 
2018
Term Loan Credit Agreement (1)
 
$

 
$
318,782

TOKIN Term Loan Facility (2)
 
276,808

 

Customer Advances (3)
 
11,270

 

Other, net (4)
 
6,393

 
5,841

Total debt
 
294,471

 
324,623

Current maturities
 
(28,430
)
 
(20,540
)
Total long-term debt
 
$
266,041

 
$
304,083

______________________________________________________________________________
(1) Amount shown is net of discount, bank issuance costs and other indirect issuance costs of $13.3 million as of March 31, 2018.
(2) Amount shown is net of discount, bank issuance costs and other indirect issuance costs of $8.7 million as of March 31, 2019.
(3) Amount shown is net of discount of $2.1 million as of March 31, 2019.
(4) Amounts shown are net of discounts of $0.6 million and $0.5 million as of March 31, 2019 and 2018, respectively.
Schedule of cash and non-cash components of interest expense
The line item “Interest expense” on the Consolidated Statements of Operations for the fiscal years 2019, 2018 and 2017, respectively, is as follows (amounts in thousands):
 
 
Fiscal Years Ended March 31,
 
 
2019
 
2018
 
2017
Contractual interest expense
 
$
19,471

 
$
30,323

 
$
38,825

Capitalized interest
 
(232
)
 
(141
)
 
(154
)
Amortization of debt issuance costs
 
334

 
511

 
1,390

Amortization of debt (premium) discount
 
1,481

 
1,843

 
(788
)
Imputed interest on acquisition related obligations
 
57

 
113

 
159

Interest expense on capital leases
 
128

 
233

 
323

Total interest expense
 
$
21,239

 
$
32,882

 
$
39,755

Schedule of line of credit facilities
.
Schedule of the Company's annual maturities of debt
The following table highlights the Company’s annual cash maturities of debt (amounts in thousands):
 
Annual Maturities of Debt Fiscal Years Ended March 31,
 
2020
 
2021
 
2022
 
2023
 
2024
 
Thereafter
TOKIN Term Loan Facility
$
24,826

 
$
24,826

 
$
24,826

 
$
24,826

 
$
24,826

 
$
161,371

Customer Advances (1)

 
1,800

 
6,850

 
4,028

 
734

 

Other
3,604

 
560

 
647

 
647

 
647

 
909

 
$
28,430

 
$
27,186

 
$
32,323

 
$
29,501

 
$
26,207

 
$
162,280


(1) Repayment of the Customer Capacity Agreements assumes the customers purchase products in a quantity sufficient to require the maximum permitted debt repayment amount per quarter.