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Leases (Table Text Block)
12 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Supplemental Balance Sheet Information Related to Leases

 

 

As of March 31, 2025

 

 

 

Finance

 

 

 

Operating

 

 

 

Total

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

Buildings and improvements

$

 

 

 

$

 

71,330

 

 

$

 

71,330

 

Furniture and equipment

 

 

61

 

 

 

 

 

 

 

 

61

 

Rental trailers and other rental equipment

 

 

58,071

 

 

 

 

 

 

 

 

58,071

 

Rental trucks

 

309,475

 

 

 

 

 

 

 

 

309,475

 

Right-of-use assets, gross

 

367,607

 

 

 

 

71,330

 

 

 

 

438,937

 

Less: Accumulated depreciation

 

(228,909

)

 

 

 

(25,305

)

 

 

 

(254,214

)

Right-of-use assets, net

$

 

138,698

 

 

$

 

46,025

 

 

$

 

184,723

 

 

 

 

As of March 31, 2024

 

 

 

Finance

 

 

Operating

 

 

Total

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

Buildings and improvements

$

 

 

$

 

79,317

 

$

 

79,317

 

Furniture and equipment

 

 

61

 

 

 

 

 

 

61

 

Rental trailers and other rental equipment

 

 

114,607

 

 

 

 

 

 

114,607

 

Rental trucks

 

 

607,521

 

 

 

 

 

 

607,521

 

Right-of-use assets, gross

 

 

722,189

 

 

 

79,317

 

 

 

801,506

 

Less: Accumulated depreciation

 

 

(432,884

)

 

 

(25,605

)

 

 

(458,489

)

Right-of-use assets, net

$

 

289,305

 

$

 

53,712

 

$

 

343,017

 

Summary of Weighted-average remaining lease terms and Discount rates

 

 

Financing leases

 

 

 

 

March 31,

 

 

 

 

2025

 

 

 

2024

 

 

Weighted average remaining lease term (years)

 

 

0.6

 

 

 

 

1

 

 

Weighted average discount rate

 

 

4.4

 

%

 

 

4.1

 

%

 

 

 

Operating leases

 

 

 

 

March 31,

 

 

 

 

2025

 

 

 

2024

 

 

Weighted average remaining lease term (years)

 

 

24.1

 

 

 

 

21.9

 

 

Weighted average discount rate

 

 

4.6

 

%

 

 

4.6

 

%

Components of Lease Expense

 

 

Twelve Months Ended March 31,

 

 

 

2025

 

 

2024

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

Operating lease costs

$

 

22,907

 

$

 

34,609

 

 

 

 

 

 

 

 

Finance lease cost:

 

 

 

 

 

 

Amortization of right-of-use assets

$

 

29,014

 

$

 

55,085

 

Interest on lease liabilities

 

 

3,666

 

 

 

6,990

 

Total finance lease cost

$

 

32,680

 

$

 

62,075

 

Maturities of Lease Liabilities

 

 

Finance leases

 

 

Operating leases

 

Year ending March 31,

 

(In thousands)

 

 

 

 

 

 

 

 

2026

$

 

45,531

 

$

 

10,586

 

2027

 

 

 

 

 

8,171

 

2028

 

 

 

 

 

6,805

 

2029

 

 

 

 

 

5,220

 

2030

 

 

 

 

 

3,949

 

Thereafter

 

 

 

 

 

57,276

 

Total lease payments

 

 

45,531

 

 

 

92,007

 

Less: imputed interest

 

 

(1,193

)

 

 

(45,034

)

Present value of lease liabilities

$

 

44,338

 

$

 

46,973