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Leases | 12 Months Ended
--- | ---
Mar. 31, 2024
Leases [Abstract] |
Leases | Leases Operating lease arrangements are comprised primarily of real estate and equipment agreements for which the ROU assets are included in other assets and the corresponding lease liabilities, depending on their maturity, are included in accrued liabilities or other long-term liabilities in the consolidated balance sheets. There are certain immaterial finance leases recorded in the consolidated balance sheets. The Company has elected to account for the lease and non-lease components as a single lease component. The Company's leases are included as a component of the following balance sheet lines (in millions):
|  | March 31,
| 2024 |  | 2023
| Other assets: |  |  |
| ROU assets | $ | 156.3 |  |  | $ | 154.0 |
| Total lease assets | $ | 156.3 |  |  | $ | 154.0 |
| Accrued liabilities: |  |  |
| Current portion of lease liabilities | $ | 32.6 |  |  | $ | 31.5 |
| Other long-term liabilities: |  |  |
| Non-current portion of lease liabilities | 128.7 |  |  | 128.6 |
| Total lease liabilities | $ | 161.3 |  |  | $ | 160.1 |
The following table presents the maturities of lease liabilities as of March 31, 2024 (in millions):
Fiscal year ending March 31, |  | Operating Leases
2025 |  | $ | 41.4 |
2026 |  | 37.6 |
2027 |  | 33.1 |
2028 |  | 23.5 |
2029 |  | 14.9 |
Thereafter |  | 35.2 |
Total lease payments |  | 185.7 |
Less: Imputed lease interests |  | 24.4 |
Total lease liabilities |  | $ | 161.3 |
The Company's weighted-average remaining lease-term and weighted-average discount rate at March 31, 2024 are as follows:
Weighted average remaining lease-term (years) | 5.61
Weighted average discount rate | 4.52 | %
The Company's total lease expense is as follows (in millions):
|  |  |  |  | Fiscal Year Ended March 31,
|  |  |  |  |  |  |  |  |  |  | 2024 |  | 2023 | 2022
Operating lease expense |  |  |  |  |  |  |  |  |  |  | $ | 60.4 |  |  | $ | 56.6 |  | $ | 58.4 |
Leases | Leases Operating lease arrangements are comprised primarily of real estate and equipment agreements for which the ROU assets are included in other assets and the corresponding lease liabilities, depending on their maturity, are included in accrued liabilities or other long-term liabilities in the consolidated balance sheets. There are certain immaterial finance leases recorded in the consolidated balance sheets. The Company has elected to account for the lease and non-lease components as a single lease component. The Company's leases are included as a component of the following balance sheet lines (in millions):
|  | March 31,
| 2024 |  | 2023
| Other assets: |  |  |
| ROU assets | $ | 156.3 |  |  | $ | 154.0 |
| Total lease assets | $ | 156.3 |  |  | $ | 154.0 |
| Accrued liabilities: |  |  |
| Current portion of lease liabilities | $ | 32.6 |  |  | $ | 31.5 |
| Other long-term liabilities: |  |  |
| Non-current portion of lease liabilities | 128.7 |  |  | 128.6 |
| Total lease liabilities | $ | 161.3 |  |  | $ | 160.1 |
The following table presents the maturities of lease liabilities as of March 31, 2024 (in millions):
Fiscal year ending March 31, |  | Operating Leases
2025 |  | $ | 41.4 |
2026 |  | 37.6 |
2027 |  | 33.1 |
2028 |  | 23.5 |
2029 |  | 14.9 |
Thereafter |  | 35.2 |
Total lease payments |  | 185.7 |
Less: Imputed lease interests |  | 24.4 |
Total lease liabilities |  | $ | 161.3 |
The Company's weighted-average remaining lease-term and weighted-average discount rate at March 31, 2024 are as follows:
Weighted average remaining lease-term (years) | 5.61
Weighted average discount rate | 4.52 | %
The Company's total lease expense is as follows (in millions):
|  |  |  |  | Fiscal Year Ended March 31,
|  |  |  |  |  |  |  |  |  |  | 2024 |  | 2023 | 2022
Operating lease expense |  |  |  |  |  |  |  |  |  |  | $ | 60.4 |  |  | $ | 56.6 |  | $ | 58.4 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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