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Leases (Tables) | 3 Months Ended
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Jun. 30, 2021
Leases [Abstract] |
Components of Lease Expense | The components of lease expense for the three months ended June 30, 2021 and 2020 were as follows:
|  |  |  | Three Months Ended June 30,
(In thousands) |  |  |  |  |  | 2021 |  | 2020
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  |  |  |  |  | $ | 642 |  |  | $ | 325 |
Interest on lease liabilities |  |  |  |  |  | 66 |  |  | 50 |
Operating lease cost |  |  |  |  |  | 1,687 |  |  | 1,697 |
Short term lease cost |  |  |  |  |  | 22 |  |  | 23 |
Variable lease cost |  |  |  |  |  | 11,651 |  |  | 11,707 |
Sublease income |  |  |  |  |  | — |  |  | (54) |
Total net lease cost |  |  |  |  |  | $ | 14,068 |  |  | $ | 13,748 |
The weighted average remaining lease term and weighted average discount rate were as follows:
|  |  | June 30, 2021
Weighted average remaining lease term (years) |  |
| Operating leases |  | 4.45
| Finance leases |  | 3.25
Weighted average discount rate |  |
| Operating leases |  | 5.26 | %
| Finance leases |  | 2.98 | %
Maturities of Operating Leases | As of June 30, 2021, the maturities of lease liabilities were as follows:
(In thousands) |  |  |  |  |  |
Year Ending March 31, |  | Operating Leases |  | Finance Lease |  | Total
2022 (Remaining nine months ending March 31, 2022) |  | $ | 5,453 |  |  | $ | 2,119 |  |  | $ | 7,572 |
2023 |  | 6,377 |  |  | 2,826 |  |  | 9,203 |
2024 |  | 6,335 |  |  | 2,826 |  |  | 9,161 |
2025 |  | 4,137 |  |  | 1,413 |  |  | 5,550 |
2026 |  | 1,815 |  |  | — |  |  | 1,815 |
Thereafter |  | 3,164 |  |  | — |  |  | 3,164 |
Total undiscounted lease payments |  | 27,281 |  |  | 9,184 |  |  | 36,465 |
Less amount of lease payments representing interest |  | (2,978) |  |  | (420) |  |  | (3,398) |
Total present value of lease payments |  | $ | 24,303 |  |  | $ | 8,764 |  |  | $ | 33,067 |
Maturities of Finance Leases | As of June 30, 2021, the maturities of lease liabilities were as follows:
(In thousands) |  |  |  |  |  |
Year Ending March 31, |  | Operating Leases |  | Finance Lease |  | Total
2022 (Remaining nine months ending March 31, 2022) |  | $ | 5,453 |  |  | $ | 2,119 |  |  | $ | 7,572 |
2023 |  | 6,377 |  |  | 2,826 |  |  | 9,203 |
2024 |  | 6,335 |  |  | 2,826 |  |  | 9,161 |
2025 |  | 4,137 |  |  | 1,413 |  |  | 5,550 |
2026 |  | 1,815 |  |  | — |  |  | 1,815 |
Thereafter |  | 3,164 |  |  | — |  |  | 3,164 |
Total undiscounted lease payments |  | 27,281 |  |  | 9,184 |  |  | 36,465 |
Less amount of lease payments representing interest |  | (2,978) |  |  | (420) |  |  | (3,398) |
Total present value of lease payments |  | $ | 24,303 |  |  | $ | 8,764 |  |  | $ | 33,067 |

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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=123408670&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=123408670&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=123408670&loc=SL77918701-209980 + Details
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