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v3.23.3

Leases (Table Text Block) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2023 | Sep. 30, 2022 | Mar. 31, 2023
Leases [Abstract] |  |  |
Supplemental Balance Sheet Information Related to Leases |
|  | As of September 30, 2023
|  | Finance |  | Operating |  | Total
|  | (Unaudited)
|  | (In thousands)
Buildings and improvements | $ | – | $ | 142,467 | $ | 142,467
Furniture and equipment |  | 7,109 |  | – |  | 7,109
Rental trailers and other rental equipment |  | 115,072 |  | – |  | 115,072
Rental trucks |  | 816,075 |  | – |  | 816,075
Right-of-use assets, gross |  | 938,256 |  | 142,467 |  | 1,080,723
Less: Accumulated depreciation |  | (560,523) |  | (77,151) |  | (637,674)
Right-of-use assets, net | $ | 377,733 | $ | 65,316 | $ | 443,049
|  | As of March 31, 2023
|  | Finance |  | Operating |  | Total
|  |  |  | (In thousands) |  |
Buildings and improvements | $ | – | $ | 128,221 | $ | 128,221
Furniture and equipment |  | 9,687 |  | – |  | 9,687
Rental trailers and other rental equipment |  | 152,294 |  | – |  | 152,294
Rental trucks |  | 949,838 |  | – |  | 949,838
Right-of-use assets, gross |  | 1,111,819 |  | 128,221 |  | 1,240,040
Less: Accumulated depreciation |  | (637,054) |  | (69,304) |  | (706,358)
Right-of-use assets, net | $ | 474,765 | $ | 58,917 | $ | 533,682
Summary of Weighted-average remaining lease terms and Discount rates |
|  | Finance leases |
|  | September 30, |  | March 31, |
|  | 2023 |  | 2023 |
|  | (Unaudited) |  |  |
Weighted average remaining lease term (years) |  | 2 |  | 2 |
Weighted average discount rate |  | 4.0 | % | 3.8 | %
|  | Operating leases |
|  | September 30, |  | March 31, |
|  | 2023 |  | 2023 |
|  | (Unaudited) |  |  |
Weighted average remaining lease term (years) |  | 18.9 |  | 19.2 |
Weighted average discount rate |  | 4.6 | % | 4.7 | %
Components of Lease Expense |
|  | Six Months Ended
|  | September 30, 2023 |  | September 30, 2022
|  | (Unaudited)
|  | (In thousands)
Operating lease costs | $ | 16,033 | $ | 16,181
Finance lease cost: |  |  |  |
Amortization of right-of-use assets | $ | 31,465 | $ | 43,173
Interest on lease liabilities |  | 4,002 |  | 6,142
Total finance lease cost | $ | 35,467 | $ | 49,315
Maturities of Lease Liabilities |
|  | Finance leases |  | Operating leases
|  | (Unaudited)
Year ending March 31, |  | (In thousands)
2024 (6 months) | $ | 85,789 | $ | 22,913
2025 |  | 61,189 |  | 10,059
2026 |  | 24,371 |  | 6,879
2027 |  | – |  | 6,265
2028 |  | – |  | 5,708
Thereafter |  | – |  | 60,853
Total lease payments |  | 171,349 |  | 112,677
Less: imputed interest |  | (7,896) |  | (48,097)
Present value of lease liabilities | $ | 163,453 | $ | 64,580

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- Definition Schedule of supplemental balance sheet information related to leases. + References No definition available. + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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