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Leases
 12 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Leases Leases
The components of lease expense for the years ended March 31, 2021 and 2020 were as follows:
March 31,
(In thousands)20212020
Finance lease cost:
     Amortization of right-of-use assets$2,039 $522 
     Interest on lease liabilities254 84 
Operating lease cost6,754 7,914 
Short term lease cost85 104 
Variable lease cost46,771 64,230 
Sublease income(188)(3,441)
Total net lease cost$55,715 $69,413 
As of March 31, 2021, the maturities of lease liabilities were as follows:

(In thousands)
Year Ending March 31,Operating LeasesFinancing LeasesTotal
2022$7,032 $2,826 $9,858 
20236,378 2,826 9,204 
20246,335 2,826 9,161 
20254,137 1,412 5,549 
20261,815 — 1,815 
Thereafter3,163 — 3,163 
Total undiscounted lease payments28,860 9,890 38,750 
Less amount of lease payments representing interest(3,296)(486)(3,782)
Total present value of lease payments$25,564 $9,404 $34,968 

The weighted average remaining lease term and weighted average discount rate were as follows:
March 31, 2021
Weighted average remaining lease term (years)
Operating leases4.66
Financing leases3.50
Weighted average discount rate
Operating leases5.25 %
Financing leases2.98 %

Under our Master Services Agreement with GEODIS Logistics LLC ("GEODIS"), GEODIS purchased certain assets for our use that went into service during 2021 and 2020. The noncash lease liability arising from obtaining ROU assets was $5.2 million for the assets that went into service in 2021 and $6.4 million for assets that went into service in 2020. These amounts represent noncash financing activities.
Leases Leases
The components of lease expense for the years ended March 31, 2021 and 2020 were as follows:
March 31,
(In thousands)20212020
Finance lease cost:
     Amortization of right-of-use assets$2,039 $522 
     Interest on lease liabilities254 84 
Operating lease cost6,754 7,914 
Short term lease cost85 104 
Variable lease cost46,771 64,230 
Sublease income(188)(3,441)
Total net lease cost$55,715 $69,413 
As of March 31, 2021, the maturities of lease liabilities were as follows:

(In thousands)
Year Ending March 31,Operating LeasesFinancing LeasesTotal
2022$7,032 $2,826 $9,858 
20236,378 2,826 9,204 
20246,335 2,826 9,161 
20254,137 1,412 5,549 
20261,815 — 1,815 
Thereafter3,163 — 3,163 
Total undiscounted lease payments28,860 9,890 38,750 
Less amount of lease payments representing interest(3,296)(486)(3,782)
Total present value of lease payments$25,564 $9,404 $34,968 

The weighted average remaining lease term and weighted average discount rate were as follows:
March 31, 2021
Weighted average remaining lease term (years)
Operating leases4.66
Financing leases3.50
Weighted average discount rate
Operating leases5.25 %
Financing leases2.98 %

Under our Master Services Agreement with GEODIS Logistics LLC ("GEODIS"), GEODIS purchased certain assets for our use that went into service during 2021 and 2020. The noncash lease liability arising from obtaining ROU assets was $5.2 million for the assets that went into service in 2021 and $6.4 million for assets that went into service in 2020. These amounts represent noncash financing activities.