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Leases | 12 Months Ended
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Mar. 31, 2024
Leases [Abstract] |
Leases | Leases The Company leases office space under non-cancelable operating leases which expire at various dates fro m fiscal 2025 to 2033. A s of March 31, 2024, the weighted average remaining lease term was 5.8 years and the weighted average discount rate was 4.5%. The Company does not have any finance leases. The Company has a sublease of a former office which expires in fiscal 2025. Sublease income from operating leases, which is recorded as a reduction of rental expense, w as $2.3 million for the years ended March 31, 2024 and 2023, and $2.5 million for the year ended March 31, 2022. The following table presents information about leases on the consolidated statements of operations (in thousands):
|  | Fiscal Year Ended March 31, |  |
|  | 2024 |  | 2023 |  | 2022 |  |
Operating lease expense (1) |  | $ | 15,522 |  |  | $ | 12,908 |  |  | $ | 10,899 |  |  |
Short-term lease expense |  | $ | 2,033 |  |  | $ | 1,847 |  |  | $ | 1,009 |  |  |
Variable lease expense |  | $ | 1,585 |  |  | $ | 891 |  |  | $ | 793 |  |  |
_________________ (1) Presented gross of sublease income. The following table presents supplemental cash flow information about the Company’s leases (in thousands):
|  | Fiscal Year Ended March 31,
|  | 2024 |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities |  | $ | 18,908 |  |  | $ | 16,098 |  |  | $ | 13,466 |
Operating lease assets obtained in exchange for new operating lease liabilities |  | $ | 10,470 |  |  | $ | 24,323 |  |  | $ | 29,112 |
As of March 31, 2024, remaining maturities of lease liabilities were as follows (in thousands):
Fiscal Years Ending March 31, |  | Amount
2025 |  | $ | 18,020 |
2026 |  | 14,602 |
2027 |  | 13,154 |
2028 |  | 8,846 |
2029 |  | 6,719 |
Thereafter |  | 16,595 |
Total operating lease payments (1) |  | 77,936 |
Less: imputed interest |  | (8,410) |
Total operating lease liabilities |  | $ | 69,526 |
_________________ (1) Presented gross of sublease income. As of March 31, 2024, the Company had commitments of $104.4 million for operating leases that have not yet commenced, and therefore are not included in the right-of-use assets or operating lease liabilities. These operating leases are expected to commence during the fiscal years ending March 31, 2025 through March 31, 2026, with lease terms ranging from 2 to 10 years.
Leases | Leases The Company leases office space under non-cancelable operating leases which expire at various dates fro m fiscal 2025 to 2033. A s of March 31, 2024, the weighted average remaining lease term was 5.8 years and the weighted average discount rate was 4.5%. The Company does not have any finance leases. The Company has a sublease of a former office which expires in fiscal 2025. Sublease income from operating leases, which is recorded as a reduction of rental expense, w as $2.3 million for the years ended March 31, 2024 and 2023, and $2.5 million for the year ended March 31, 2022. The following table presents information about leases on the consolidated statements of operations (in thousands):
|  | Fiscal Year Ended March 31, |  |
|  | 2024 |  | 2023 |  | 2022 |  |
Operating lease expense (1) |  | $ | 15,522 |  |  | $ | 12,908 |  |  | $ | 10,899 |  |  |
Short-term lease expense |  | $ | 2,033 |  |  | $ | 1,847 |  |  | $ | 1,009 |  |  |
Variable lease expense |  | $ | 1,585 |  |  | $ | 891 |  |  | $ | 793 |  |  |
_________________ (1) Presented gross of sublease income. The following table presents supplemental cash flow information about the Company’s leases (in thousands):
|  | Fiscal Year Ended March 31,
|  | 2024 |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities |  | $ | 18,908 |  |  | $ | 16,098 |  |  | $ | 13,466 |
Operating lease assets obtained in exchange for new operating lease liabilities |  | $ | 10,470 |  |  | $ | 24,323 |  |  | $ | 29,112 |
As of March 31, 2024, remaining maturities of lease liabilities were as follows (in thousands):
Fiscal Years Ending March 31, |  | Amount
2025 |  | $ | 18,020 |
2026 |  | 14,602 |
2027 |  | 13,154 |
2028 |  | 8,846 |
2029 |  | 6,719 |
Thereafter |  | 16,595 |
Total operating lease payments (1) |  | 77,936 |
Less: imputed interest |  | (8,410) |
Total operating lease liabilities |  | $ | 69,526 |
_________________ (1) Presented gross of sublease income. As of March 31, 2024, the Company had commitments of $104.4 million for operating leases that have not yet commenced, and therefore are not included in the right-of-use assets or operating lease liabilities. These operating leases are expected to commence during the fiscal years ending March 31, 2025 through March 31, 2026, with lease terms ranging from 2 to 10 years.

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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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- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-30/tableOfContent + Details
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