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v3.23.2

Leases | 12 Months Ended
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Mar. 31, 2023
Lessee Disclosure [Abstract] |
Leases | 3. Leases Nextracker has several commitments under operating leases for warehouses, buildings, and equipment. Leases have initial lease terms ranging from one year to five years. The components of lease cost recognized under ASC 842 were as follow (in thousands):
|  | Fiscal year ended March 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Operating lease cost |  | $ | 1,922 |  |  | $ | 1,769 |  |  | $ | 1,624 |
Amounts reported in the consolidated balance sheet as of March 31, 2023 and 2022 were as follows (in thousands, except weighted average lease term and discount rate):
|  | As of March 31, |
|  | 2023 |  |  | 2022 |
Operating Leases: |  |  |  |  |  |  |  |
Operating lease right of use assets |  | $ | 3,337 |  |  | $ | 4,359 |
Operating lease liabilities |  | $ | 3,394 |  |  | $ | 4,508 |
Weighted-average remaining lease term (In years) |  |  | 2.6 |  |  |  | 2.8 |
Weighted-average discount rate |  |  | 4.7% |  |  |  | 3.1% |
Other information related to leases was as follow (in thousands):
|  | Fiscal year ended March 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 1,928 |  |  | $ | 1,818 |  |  | $ | 1,610 |
Future lease payments under non-cancellable leases as of March 31, 2023 are as follows:
(in thousands) |  | Operating Leases |
Fiscal year ended March 31, |  |  |  |
2024 |  | $ | 1,997 |
2025 |  |  | 626 |
2026 |  |  | 493 |
2027 |  |  | 423 |
2028 |  |  | 106 |
Total undiscounted lease payments |  |  | 3,645 |
Less: imputed interest |  |  | 251 |
Total lease liabilities |  | $ | 3,394 |

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- References No definition available. + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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