XML 28 R20.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Leases | 9 Months Ended
--- | ---
Dec. 31, 2024
Leases [Abstract] |
Leases | . Leases The following tables show the components of our right-of-use (“ROU") assets, net:
|  | As of December 31, 2024 |
|  | Finance |  |  | Operating |  |  | Total |
|  | (Unaudited) |
|  | (In thousands) |
Buildings and improvements |  | $ | — |  |  | $ | 82,384 |  |  | $ | 82,384 |
Furniture and equipment |  |  | 61 |  |  |  | — |  |  |  | 61 |
Rental trailers and other rental equipment |  |  | 66,083 |  |  |  | — |  |  |  | 66,083 |
Rental trucks |  |  | 388,528 |  |  |  | — |  |  |  | 388,528 |
Right-of-use assets, gross |  |  | 454,672 |  |  |  | 82,384 |  |  |  | 537,056 |
Less: Accumulated depreciation |  |  | (285,855 | ) |  |  | (33,884 | ) |  |  | (319,739 | )
Right-of-use assets, net |  | $ | 168,817 |  |  | $ | 48,500 |  |  | $ | 217,317 |
|  | As of March 31, 2024 |
|  | Finance |  |  | Operating |  |  | Total |
|  | (Unaudited) |
|  | (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 |
As of December 31, 2024 and March 31, 2024, we had finance lease liabilities for the ROU assets, net of $57.0 million and $117.6 million, respectively, included in Notes, loans and finance leases payable, net in the consolidated balance sheets.
|  | Finance leases |  |
|  | December 31, |  |  | March 31, |  |
|  | 2024 |  |  | 2024 |  |
|  | (Unaudited) |  |
Weighted average remaining lease term (years) |  | 0.8 |  |  | 1 |  |
Weighted average discount rate |  |  | 4.3 |  | % |  | 4.1 |  | %
|  | Operating leases |  |
|  | December 31, |  |  | March 31, |  |
|  | 2024 |  |  | 2024 |  |
|  | (Unaudited) |  |
Weighted average remaining lease term (years) |  | 23.2 |  |  | 21.9 |  |
Weighted average discount rate |  |  | 4.6 |  | % |  | 4.6 |  | %
For the nine months ended December 31, 2024 and 2023, cash paid for leases included in our operating cash flow activities were $15.7 million and $17.5 million, respectively, and our financing cash flow activities were $60.7 million and $86.2 million, respectively. Non-cash activities of ROU assets in exchange for lease liabilities were $3.1 million and $17.9 million for the first nine months of fiscal 2025 and 2024, respectively. The components of lease costs, including leases of less than 12 months, were as follows:
|  | Nine months ended |
|  | December 31, 2024 |  |  | December 31, 2023 |
|  | (Unaudited) |
|  | (In thousands) |
Operating lease costs |  | $ | 15,386 |  |  | $ | 25,181 |
Finance lease cost: |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 23,903 |  |  | $ | 44,220 |
Interest on lease liabilities |  |  | 3,048 |  |  |  | 5,600 |
Total finance lease cost |  | $ | 26,951 |  |  | $ | 49,820 |
The short-term lease costs for the first nine months of fiscal 2025 and 2024 were not material. Maturities of lease liabilities were as follows:
|  | Finance leases |  |  | Operating leases |
|  | (Unaudited) |
Year ending March 31, |  | (In thousands) |
2025 (3 months) |  | $ | 47,013 |  |  | $ | 3,234 |
2026 |  |  | 11,782 |  |  |  | 10,579 |
2027 |  |  | — |  |  |  | 8,164 |
2028 |  |  | — |  |  |  | 6,774 |
2029 |  |  | — |  |  |  | 5,184 |
Thereafter |  |  | — |  |  |  | 61,191 |
Total lease payments |  |  | 58,795 |  |  |  | 95,126 |
Less: imputed interest |  |  | (1,815 | ) |  |  | (45,583 | )
Present value of lease liabilities |  | $ | 56,980 |  |  | $ | 49,543 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_OperatingLeasesOfLessorDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration