and even then the big impact is when we get our own furnishes up and when we get our own production up. So I wouldn’t expect glass to have an enormous impact on margins in fiscal 16 either it is more longer dated than that.
Judy Hong , Goldman Sachs
OK. Thank you!
Operator
The next question comes from the line of Kim Brainy of Capital Research Group.
Kim Brainy, Capital Research Group
Good morning! Thanks! Did you say how long the diesel hedges were? When should we thinking about seeing and even positive impact coming through lower fuel?
Robert Ryder, Executive Vice President and Chief Financial Officer, Constellation Brands [NYSE: STZ]
Well, it is a combination thing and we don’t hedge 100%, right? So we hedge a smaller percent of our exposure in outer year. So we will hedge the most in the next 12 months and then month 12 to 24 will be a lower percentage. So, we will benefit for the on-hedged piece of diesel. We will benefit from that because we are pretty much paying the spot rate. The negative is the marked market on the hedges, right? And when those hedges get closed out we will see that lost in our comparable earnings.
Kim Brainy, Capital Research Group.
OK. And then on the net debt, the way I do the math you actually may reach 4.0 times in the Q4. I know you previous guidance has been below that by 16 and so maybe we are splitting hairs here a little bit. Are we little ahead of the curve?
Robert Ryder, Executive Vice President and Chief Financial Officer, Constellation Brands [NYSE: STZ]
I think we are pretty much where we expected. We’d expect to be right around that 4.0 range at the end of the year and it happens to be how our free cash flow coming in. Of course, we haven’t even finished our plan next year but a lot of that will be depended upon what quarter we spent a lot of the beer capital. But probably my guess is of our due leverage will occur in the back half of next year. But you know, we would expect to be below 4 times in fiscal 16, by the end of fiscal 16 and as our planning process comes through we would have better visibility to it by quarter.
Kim Brainy, Capital Research Group.
Got it. Is that number kind of magical relative to the dividend discussion? Maybe not for covenant reason but just for managements’ mindset reason?
Robert Ryder, Executive Vice President and Chief Financial Officer, Constellation Brands [NYSE: STZ]
We’ve kind muted magic I guess. In all these discussions there is a lot of variables but we have to pick kind of one cold fish of the equation of fix and what we said is that the EBITDA leverage and we’ve said we will begin reassessing returning cash to shareholders because we have been one of the more aggressive people in our space but we’ve done an exclusively from stock buy backs when we bought back about 20% of our shares under USD 20 a share. We still have USD 750 M available under our Boar authorization but I think what we’ve said now since a lot have happened since we’ve stopped our, you know, since we put the stock buyback program on high at us that dividend will trunk stock buyback and what we’ve said is when we have really good viability to getting below 4 times and staying there that’s when we will start assessing a dividend and as we all said it looks like it will be in fiscal 16. We will probably, you know, talking about it for our fiscal 16 guidance.
Kim Brainy, Capital Research Group
Sounds good. Thanks so much!
Operator
Our next question comes from the line of Dara Mohsenian, Morgan Stanley
Dara Mohsenian, Morgan Stanley
Thanks! Good morning guys! So what are the given update on growths of the draft and K import exports of your business in the quarter? And also what you think the capitalizations level are in your business from expansion of those 2 areas worst draft as if you added it for your business?
