Commitments and Contingencies

6 Months Ended

Sep. 30, 2016

Commitments and Contingencies Disclosure [Abstract]

We are involved from time to time in legal matters and other claims incidental to our business. We review outstanding claims and proceedings internally and with external counsel as necessary to assess the probability and amount of a 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 of operations.

Lease Commitments

We have operating leases for office facilities and equipment in New York and other locations, which expire at various dates through fiscal 2022. These amounts have been included in the table below.

The following summarizes future minimum lease payments for our operating leases as of September 30, 2016:



(In thousands)
Year Ending March 31,	Facilities		Equipment		Total (a)
2017 (Remaining six months ending March 31, 2017)	$	1,048	$	76	$	1,124
2018	2,029		152		2,181
2019	2,023		152		2,175
2020	1,848		89		1,937
2021	903		—		903
Thereafter	59		—		59
	$	7,910	$	469	$	8,379

(a) Minimum lease payments have not been reduced by minimum sublease rentals of $1.0 million due to us 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:



(In thousands)	September 30, 2016			March 31, 2016
Minimum lease payments	$	8,379		$	8,434
Less: Sublease rentals	(1,036		)	(1,165		)
	$	7,343		$	7,269

Rent expense for the three months ended September 30, 2016 and 2015 was $0.5 million and $0.4 million, respectively.

Rent expense for the six months ended September 30, 2016 and 2015 was $1.1 million and $0.8 million, 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,	Amount
2017 (Remaining six months ending March 31, 2017)	518
2018	1,013
2019	982
2020	559
2021	—
	$	3,072