XML 32 R16.htm IDEA: XBRL DOCUMENT
v3.25.1

LEASES | 12 Months Ended
--- | ---
Mar. 31, 2025
Leases [Abstract] |
LEASES | (E) Leases We lease certain real estate, buildings, and equipment, including rail cars and barges. 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 12 months. These short-term equipment leases are not recorded on the balance sheet. Lease expense for our operating and short-term leases is as follows:
|  | For the Years Ended March 31, |
|  | 2025 |  |  | 2024 |  |  | 2023 |
|  | (dollars in thousands) |
Operating Lease Cost |  | $ |  | 7,953 |  |  | $ |  | 8,030 |  |  | $ |  | 7,339 |
Short-term Lease Cost |  |  |  | 1,306 |  |  |  |  | 691 |  |  |  |  | 593 |
Total Lease Cost |  | $ |  | 9,259 |  |  | $ |  | 8,721 |  |  | $ |  | 7,932 |
The Right-of-Use Assets and Lease Liabilities are reflected on our Balance Sheet as follows:
|  | March 31, |
|  | 2025 |  |  | 2024 |
|  | (dollars in thousands) |
Operating Leases: |  |  |  |  |  |  |  |
Operating Lease Right-of-Use Assets |  | $ |  | 29,313 |  |  | $ |  | 19,373 |
Current Operating Lease Liabilities |  | $ |  | 4,032 |  |  | $ |  | 7,899 |
Noncurrent Operating Lease Liabilities |  |  |  | 33,597 |  |  |  |  | 19,037 |
Total Operating Lease Liabilities |  | $ |  | 37,629 |  |  | $ |  | 26,936 |
Future payments for operating leases are as follows:
|  | Amount |  |
Fiscal Year |  | (dollars in thousands) |  |
2025 |  | $ |  | 5,015 |  |
2026 |  |  |  | 4,239 |  |
2027 |  |  |  | 3,550 |  |
2028 |  |  |  | 3,586 |  |
2029 |  |  |  | 3,725 |  |
Thereafter |  |  |  | 30,002 |  |
Total Lease Payments |  | $ |  | 50,117 |  |
Less: Imputed Interest |  |  |  | (12,488 | ) |
Present Value of Lease Liabilities |  | $ |  | 37,629 |  |
Weighted-Average Remaining Lease Term (in years) |  |  |  | 12.6 |  |
Weighted-Average Discount Rate |  |  |  | 4.32 | % |

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 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration