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Leases | 6 Months Ended
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Sep. 30, 2020
Leases [Abstract] |
Leases | Leases We lease real estate and equipment for use in our operations. The components of lease expense for the three and six months ended September 30, 2020 and 2019 were as follows:
|  | Three Months Ended September 30, |  | Six Months Ended September 30,
(In thousands) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 443 |  |  | — |  |  | $ | 768 |  |  | $ | — |
Interest on lease liabilities |  | 59 |  |  | — |  |  | 109 |  |  | — |
Operating lease cost |  | 1,692 |  |  | 2,242 |  |  | 3,389 |  |  | 3,458 |
Short term lease cost |  | 22 |  |  | 27 |  |  | 45 |  |  | 50 |
Variable lease cost |  | 12,303 |  |  | 15,696 |  |  | 24,010 |  |  | 32,295 |
Sublease income |  | (55) |  |  | (860) |  |  | (109) |  |  | (1,774) |
Total net lease cost |  | $ | 14,464 |  |  | 17,105 |  |  | $ | 28,212 |  |  | $ | 34,029 |
As of September 30, 2020, the maturities of lease liabilities were as follows:
(In thousands) |  |  |  |  |  |
Year Ending March 31, |  | Operating Leases |  | Finance Lease |  | Total
2021 (Remaining six months ending March 31, 2021) |  | $ | 3,613 |  |  | $ | 1,466 |  |  | $ | 5,079 |
2022 |  | 6,521 |  |  | 2,932 |  |  | 9,453 |
2023 |  | 6,291 |  |  | 2,932 |  |  | 9,223 |
2024 |  | 6,303 |  |  | 2,932 |  |  | 9,235 |
2025 |  | 4,132 |  |  | 1,467 |  |  | 5,599 |
Thereafter |  | 4,974 |  |  | — |  |  | 4,974 |
Total undiscounted lease payments |  | 31,834 |  |  | 11,729 |  |  | 43,563 |
Less amount of lease payments representing interest |  | (3,973) |  |  | (653) |  |  | (4,626) |
Total present value of lease payments |  | $ | 27,861 |  |  | $ | 11,076 |  |  | $ | 38,937 |
The weighted average remaining lease term and weighted average discount rate were as follows:
|  |  | September 30, 2020
Weighted average remaining lease term (years) |  |
| Operating leases |  | 5.08
| Finance leases |  | 4.00
Weighted average discount rate |  |
| Operating leases |  | 5.28 | %
| Finance leases |  | 2.96 | %
Under our Master Services Agreement with GEODIS Logistics LLC ("GEODIS"), GEODIS purchased certain assets for our use that went into service during the three months ended September 30, 2020. The right-of-use ("ROU") asset and lease liability at the commencement of this finance lease was $5.8 million.
Leases | Leases We lease real estate and equipment for use in our operations. The components of lease expense for the three and six months ended September 30, 2020 and 2019 were as follows:
|  | Three Months Ended September 30, |  | Six Months Ended September 30,
(In thousands) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 443 |  |  | — |  |  | $ | 768 |  |  | $ | — |
Interest on lease liabilities |  | 59 |  |  | — |  |  | 109 |  |  | — |
Operating lease cost |  | 1,692 |  |  | 2,242 |  |  | 3,389 |  |  | 3,458 |
Short term lease cost |  | 22 |  |  | 27 |  |  | 45 |  |  | 50 |
Variable lease cost |  | 12,303 |  |  | 15,696 |  |  | 24,010 |  |  | 32,295 |
Sublease income |  | (55) |  |  | (860) |  |  | (109) |  |  | (1,774) |
Total net lease cost |  | $ | 14,464 |  |  | 17,105 |  |  | $ | 28,212 |  |  | $ | 34,029 |
As of September 30, 2020, the maturities of lease liabilities were as follows:
(In thousands) |  |  |  |  |  |
Year Ending March 31, |  | Operating Leases |  | Finance Lease |  | Total
2021 (Remaining six months ending March 31, 2021) |  | $ | 3,613 |  |  | $ | 1,466 |  |  | $ | 5,079 |
2022 |  | 6,521 |  |  | 2,932 |  |  | 9,453 |
2023 |  | 6,291 |  |  | 2,932 |  |  | 9,223 |
2024 |  | 6,303 |  |  | 2,932 |  |  | 9,235 |
2025 |  | 4,132 |  |  | 1,467 |  |  | 5,599 |
Thereafter |  | 4,974 |  |  | — |  |  | 4,974 |
Total undiscounted lease payments |  | 31,834 |  |  | 11,729 |  |  | 43,563 |
Less amount of lease payments representing interest |  | (3,973) |  |  | (653) |  |  | (4,626) |
Total present value of lease payments |  | $ | 27,861 |  |  | $ | 11,076 |  |  | $ | 38,937 |
The weighted average remaining lease term and weighted average discount rate were as follows:
|  |  | September 30, 2020
Weighted average remaining lease term (years) |  |
| Operating leases |  | 5.08
| Finance leases |  | 4.00
Weighted average discount rate |  |
| Operating leases |  | 5.28 | %
| Finance leases |  | 2.96 | %
Under our Master Services Agreement with GEODIS Logistics LLC ("GEODIS"), GEODIS purchased certain assets for our use that went into service during the three months ended September 30, 2020. The right-of-use ("ROU") asset and lease liability at the commencement of this finance lease was $5.8 million.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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