XML 45 R16.htm IDEA: XBRL DOCUMENT v3.19.3

LEASES

6 Months Ended

Sep. 30, 2019

Leases [Abstract]

LEASES

(I) LEASES

We lease certain real estate, buildings, and equipment, including rail cars. Certain of these leases contain escalations of rent over the term of the lease, as well as options for us to extend the term of the lease at the end of the original term. These extensions range from periods of one year to twenty years. Our lease agreements do not contain material residual value guarantees or material restrictive covenants. In calculating the present value of future minimum lease payments, we use the rate implicit in the lease if it can be determined. Otherwise, we use our incremental borrowing rate in effect at the commencement of the lease to determine the present value of the future minimum lease payments. Additionally, we lease certain equipment under short-term leases with initial terms of less than twelve months, which are not recorded on the balance sheet.

Lease expense for our operating and short-term leases is as follows:

		For the Three Months Ended September 30, 2019				For the Six Months Ended September 30, 2019
		(dollars in thousands)
Operating Lease Cost		$	3,962			$	7,909
Short-term Lease Cost			498				1,082
Total Lease Cost		$	4,460			$	8,991

The Right of Use Assets and Lease Liabilities are reflected on our Balance Sheet as follows:

		For the Six Months Ended September 30, 2019
		(dollars in thousands)
Operating Leases:
Operating Lease Right of Use Assets		$	63,526
Current Operating Lease Liabilities		$	11,315
Noncurrent Operating Lease Liabilities			56,586
Total Operating Lease Liabilities		$	67,901

Future payments for operating leases are as follows (dollars in thousands):

Fiscal Year		Amount
2020 (remaining six months)		$	7,103
2021			12,108
2022			10,618
2023			10,131
2024			8,585
Thereafter			33,579
Total Lease Payments		$	82,124
Less: Imputed Interest			(14,223	)
Present Value of Lease Liabilities		$	67,901
Weighted Average Remaining Lease Term (in years)			8.8
Weighted Average Discount Rate			3.75	%

As disclosed in our March 31, 2019 Form 10-K, future minimum lease payments were as follows (dollars in thousands):

Fiscal Year		Amount
2020		$	14,613
2021			11,487
2022			9,979
2023			9,784
2024			8,347
Thereafter			24,793
Total Lease Payments		$	79,003

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 lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-URI http://asc.fasb.org/topic&trid=2208923

+ Details

Name:	us-gaap_LeasesOfLesseeDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration