XML 40 R23.htm IDEA: XBRL DOCUMENT

Leases

6 Months Ended

Sep. 30, 2025

Note 16: Leases

Lease assets and liabilities

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


	Balance Sheet Location	September 30, 2025		March 31, 2025
Lease Assets
Operating lease ROU assets	Other noncurrent assets	$	107.1	$	97.2
Finance lease ROU assets (a)	Property, plant and equipment - net		7.0		6.9

Lease Liabilities
Operating lease liabilities	Other current liabilities	$	20.7	$	18.0
Operating lease liabilities	Other noncurrent liabilities		86.7		80.6
Finance lease liabilities	Long-term debt - current portion		0.5		0.5
Finance lease liabilities	Long-term debt		2.1		2.2
____

(a)	Finance right of use (“ROU”) assets were recorded net of accumulated amortization of $4.6 million and $4.2 million as of September 30, 2025 and March 31, 2025, respectively.

Components of lease expense

The components of lease expense were as follows:


	Three months ended September 30,				Six months ended September 30,
	2025		2024		2025		2024
Operating lease expense (a)	$	10.5	$	7.7	$	20.2	$	14.6
Finance lease expense:
Depreciation of ROU assets		0.2		0.2		0.3		0.3
Interest on lease liabilities		0.1		0.1		0.1		0.1
Total lease expense	$	10.8	$	8.0	$	20.6	$	15.0
____

(a)

For the three and six months ended September 30, 2025, operating lease expense included short-term lease expense of $2.6 million and $5.0 million, respectively. For the three and six months ended September 30, 2024, operating lease expense included short-term lease expense of $1.8 million and $3.1 million, respectively. Variable lease expense was not significant.

During the second quarter of fiscal 2026, the Company signed a 7-year operating lease for a manufacturing facility with future lease payments totaling approximately $44.0 million. The Company expects this lease will commence in the third quarter of fiscal 2026. The Company is increasing its production capacity to support organic growth opportunities within its Data Center business.