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Leases (Tables)

12 Months Ended

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

X

- 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

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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

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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

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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

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-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

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