We have operating leases for manufacturing facilities, offices, warehouses, vehicles and certain equipment. Our leases have remaining lease terms of 1 year to 22 years, some of which include escalation clauses and/or options to extend or terminate the leases. We have immaterial financing lease arrangements.


	Three Months Ended December 31,				Nine Months Ended December 31,
(in thousands)	2025		2024		2025		2024
Components of Operating Lease Expense






Operating lease expense (a)	$	4,497	$	3,258	$	12,447	$	9,605
Short-term lease expense	95		245		383		695
Total operating lease expense	$	4,592	$	3,503	$	12,830	$	10,300
(a) Included in cost of revenues and selling, general and administrative expenses


(in thousands)	December 31, 2025		March 31, 2025







Operating Lease Assets and Liabilities
Right-of-use assets, net (b)	$	71,488	$	62,061

Short-term lease liabilities (c)	$	13,728	$	11,244
Long-term lease liabilities (c)	64,935		58,120
Total operating lease liabilities	$	78,663	$	69,364
(b) Included in other assets
(c) Included in accrued and other current liabilities and other long-term liabilities


	Nine Months Ended December 31,
(in thousands)	2025			2024
Supplemental Cash Flow
Cash paid for amounts included in the measurement of operating lease liabilities (d)	$	12,470		$	9,486
Right-of-use assets obtained in exchange for new operating lease liabilities	1,714			26,973
(d) Included in our Consolidated Statements of Cash Flows under operating activities in net income and accounts payable and other current liabilities

Other Information for Operating Leases
Weighted average remaining lease term (in years)	6.50			7.25
Weighted average discount rate	5.7		%	5.2		%


Maturities of operating lease liabilities were as follows (in thousands):
Year Ending March 31, 2026 (excluding the nine months ended December 31, 2025)	$	4,638
2027	17,248
2028	15,780
2029	14,257
2030	11,942
Thereafter	31,596
Total lease liabilities	95,461
Less: Imputed interest	(16,798)
Present value of lease liabilities	$	78,663