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Leases (Tables)

9 Months Ended

Dec. 31, 2024

Leases

Leases recorded on consolidated balance sheets

The following table provides a summary of leases recorded on the consolidated balance sheets.


		Balance Sheet Location		December 31, 2024			March 31, 2024
Lease Assets
Operating lease ROU assets		Other noncurrent assets		$	96.4		$	76.0
Finance lease ROU assets (a)		Property, plant and equipment - net			6.8			6.5

Lease Liabilities
Operating lease liabilities		Other current liabilities		$	19.7		$	15.3
Operating lease liabilities		Other noncurrent liabilities			78.5			62.1
Finance lease liabilities		Long-term debt - current portion			0.5			0.4
Finance lease liabilities		Long-term debt			2.2			1.9
____

(a)	Finance right of use (“ROU”) assets were recorded net of accumulated amortization of $4.0 million and $3.7 million as of December 31, 2024 and March 31, 2024, respectively.

Components of Lease Expense

Components of lease expense

The components of lease expense were as follows:


		Three months ended December 31,						Nine months ended December 31,
		2024			2023			2024			2023
Operating lease expense (a)		$	8.5		$	6.1		$	23.1		$	17.6
Finance lease expense:
Depreciation of ROU assets			0.1			0.1			0.4			0.4
Interest on lease liabilities			—			—			0.1			0.1
Total lease expense		$	8.6		$	6.2		$	23.6		$	18.1
____

(a)

For the three and nine months ended December 31, 2024, operating lease expense included short-term lease expense of $1.7 million and $4.8 million, respectively. For the three and nine months ended December 31, 2023, operating lease expense included short-term lease expense of $1.4 million and $4.3 million, respectively. Variable lease expense was not significant.