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Leases (Tables) | 12 Months Ended
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Mar. 31, 2020
Leases [Abstract] |
Components of Lease Expense | The components of lease expense for the year ended March 31, 2020 were as follows:
(In thousands) |  |  |
Finance lease cost: |  |  |  |
Amortization of right-of-use assets |  |  | $ | 522 |
Interest on lease liabilities |  |  | 84 |
Operating lease cost |  |  | 7,914 |
Short term lease cost |  |  | 104 |
Variable lease cost |  |  | 64,230 |
Sublease income |  |  | (3,441) |
Total net lease cost |  |  | $ | 69,413 |
The weighted average remaining lease term and weighted average discount rate were as follows:
|  |  | March 31, 2020
Weighted average remaining lease term (years) |  |  |
| Operating leases |  | 5.40
| Financing leases |  | 4.50
Weighted average discount rate |  |  |
| Operating leases |  | 5.28 | %
| Financing leases |  | 3.55 | %
Maturities of Operating Leases | As of March 31, 2020, the maturities of lease liabilities were as follows:
(In thousands) |  |  |  |  |  |
Year Ending March 31, |  | Operating Leases |  | Financing Leases |  | Total
2021 |  | $ | 7,019 |  |  |  | $ | 1,404 |  |  | $ | 8,423 |
2022 |  | 6,497 |  |  |  | 1,404 |  |  | 7,901 |
2023 |  | 6,305 |  |  |  | 1,404 |  |  | 7,709 |
2024 |  | 6,294 |  |  |  | 1,404 |  |  | 7,698 |
2025 |  | 4,123 |  |  |  | 700 |  |  | 4,823 |
Thereafter |  | 4,973 |  |  |  | — |  |  | 4,973 |
Total undiscounted lease payments |  | 35,211 |  |  |  | 6,316 |  |  | 41,527 |
Less amount of lease payments representing interest |  | (4,722) |  |  |  | (470) |  |  | (5,192) |
Total present value of lease payments |  | $ | 30,489 |  |  |  | $ | 5,846 |  |  | $ | 36,335 |
Maturities of Finance Leases | As of March 31, 2020, the maturities of lease liabilities were as follows:
(In thousands) |  |  |  |  |  |
Year Ending March 31, |  | Operating Leases |  | Financing Leases |  | Total
2021 |  | $ | 7,019 |  |  |  | $ | 1,404 |  |  | $ | 8,423 |
2022 |  | 6,497 |  |  |  | 1,404 |  |  | 7,901 |
2023 |  | 6,305 |  |  |  | 1,404 |  |  | 7,709 |
2024 |  | 6,294 |  |  |  | 1,404 |  |  | 7,698 |
2025 |  | 4,123 |  |  |  | 700 |  |  | 4,823 |
Thereafter |  | 4,973 |  |  |  | — |  |  | 4,973 |
Total undiscounted lease payments |  | 35,211 |  |  |  | 6,316 |  |  | 41,527 |
Less amount of lease payments representing interest |  | (4,722) |  |  |  | (470) |  |  | (5,192) |
Total present value of lease payments |  | $ | 30,489 |  |  |  | $ | 5,846 |  |  | $ | 36,335 |
Future Minimum Rental Payments for Operating Leases Under Prior Guidance | The following table summarizes future minimum lease payments for our operating leases as of March 31, 2019, before adoption of Topic 842:
(In thousands) | Facilities |  | Equipment |  | Total
Year Ending March 31, |  |  |  |  |
2020 | $ | 2,828 |  |  | $ | 314 |  |  | $ | 3,142 |
2021 | 2,633 |  |  | 248 |  |  | 2,881 |
2022 | 2,265 |  |  | 213 |  |  | 2,478 |
2023 | 1,684 |  |  | 105 |  |  | 1,789 |
2024 | 1,705 |  |  | — |  |  | 1,705 |
Thereafter | 6,780 |  |  | — |  |  | 6,780 |
| $ | 17,895 |  |  | $ | 880 |  |  | $ | 18,775 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 + Details
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