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The table below summarizes by vessel class and vessel type the number of vessels expected to be delivered by quarter along with the expected cash outlay (in thousands) of the various vessel commitments as discussed above: 

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(A) The $89,067 of ‘Thereafter’ vessel construction obligations is expected to be paid out as follows: $87,815 in the remaining quarters of fiscal 2012 and $1,252 during fiscal 2013. 

The company believes that it has sufficient financial capacity to support a continued investment in new vessels for the intermediate term, assuming customer demand, acquisition and shipyard economics and other considerations justify such an investment. The company continues to evaluate its fleet renewal program, whether through new construction or acquisitions, relative to other investment opportunities and uses of cash, including the current share repurchase authorization, and in the context of its financial position and then existing conditions in the credit and capital markets. In recent years, the company has funded vessel additions with available cash, operating cash flow, and funds provided by the 2003 private placement of $300.0 million in senior unsecured notes, revolving credit facilities, and various leasing arrangements. The company has $470.3 million remaining capital commitments on the 31 vessels currently under construction and the five vessel purchase commitments at March 31, 2010. 

## General and Administrative Expenses 

Consolidated general and administrative expenses and its related percentage of total revenues for the years ended March 31 consists of the following components: 

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General and administrative expenses were higher by approximately $13.7 million, or 10%, during fiscal 2010 as compared to fiscal 2009, primarily due to a $3.6 million settlement loss related to the July 2009 supplemental retirement plan lump sum distributions, as disclosed in Note 5 of Notes to Consolidated Financial Statements, to higher legal costs associated with internal investigation matters along with an $11.4 million proposed settlement with the SEC regarding the internal investigation matter, and to the expropriation of the company’s Venezuelan assets as disclosed in Note 10 of Notes to Consolidated Financial Statements, partially offset by lower aviation costs. 

General and administrative expenses during fiscal 2009 were approximately $9.6 million, or 8%, higher as compared to the fiscal 2008 due to higher personnel costs (resulting from the amortization of restricted stock and phantom stock awards granted during the last two fiscal years); costs associated with accelerating the vesting of restricted stock awards for one retiring senior executive; and higher salary and administrative benefit expenses. Higher personnel costs were slightly offset by lower professional service costs (primarily legal fees) related to the internal investigation. General and administrative expenses were also higher due to 

