Commitments and Contingencies

12 Months Ended

Mar. 31, 2016

Commitments and Contingencies Disclosure [Abstract]

We are involved from time to time in routine legal matters and other claims incidental to our business. We review outstanding claims and proceedings internally and with external counsel as necessary to assess probability and amount of potential loss. These assessments are re-evaluated at each reporting period and as new information becomes available to determine whether a reserve should be established or if any existing reserve should be adjusted. The actual cost of resolving a claim or proceeding ultimately may be substantially different than the amount of the recorded reserve. In addition, because it is not permissible under GAAP to establish a litigation reserve until the loss is both probable and estimable, in some cases there may be insufficient time to establish a reserve prior to the actual incurrence of the loss (upon verdict and judgment at trial, for example, or in the case of a quickly negotiated settlement). We believe the resolution of routine legal matters and other claims incidental to our business, taking our reserves into account, will not have a material adverse effect on our business, financial condition, or results from operations.

Lease Commitments

We have operating leases for office facilities and equipment, including New York, Wyoming, and other locations, which expire at various dates through fiscal 2021. These amounts have been included in the table below.

The following summarizes future minimum lease payments for our operating leases ^(a):



(In thousands)	Facilities		Equipment		Total
Year Ending March 31,
2017	$	1,923	$	77	$	2,000
2018	1,934		—		1,934
2019	1,926		—		1,926
2020	1,757		—		1,757
2021	817		—		817
	$	8,357	$	77	$	8,434

(a) Minimum lease payments have not been reduced by minimum sublease rentals of $1.2 million due in the future under noncancelable subleases.

The following schedule shows the composition of total minimum lease payments that have been reduced by minimum sublease rentals:



	Year ending March 31,
(In thousands)	2016			2015
Minimum lease payments	$	8,434		$	9,957
Less: Sublease rentals	(1,165		)	(1,401		)
	$	7,269		$	8,556

Rent expense was $1.8 million, $1.6 million, and $1.5 million for 2016, 2015, and 2014, respectively.

Purchase Commitments

Effective November 1, 2009, we entered into a ten year supply agreement for the exclusive manufacture of a portion of one of our Household Cleaning products. Although we are committed under the supply agreement to pay the minimum amounts set forth in the table below, the total commitment is less than 10% of the estimated purchases that we expect to make during the course of the agreement.



(In thousands)
Year Ending March 31,
2017	1,044
2018	1,013
2019	982
2020	560
2021	—
Thereafter	—
	$	3,599