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Leases (Tables)
3 Months Ended
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)20212020
Finance lease cost:
     Amortization of right-of-use assets$642 $325 
     Interest on lease liabilities66 50 
Operating lease cost1,687 1,697 
Short term lease cost22 23 
Variable lease cost11,651 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 leases4.45
Finance leases3.25
Weighted average discount rate
Operating leases5.26 %
Finance leases2.98 %
Maturities of Operating Leases
As of June 30, 2021, the maturities of lease liabilities were as follows:
(In thousands)
Year Ending March 31,Operating LeasesFinance
Lease
Total
2022 (Remaining nine months ending March 31, 2022)$5,453 $2,119 $7,572 
20236,377 2,826 9,203 
20246,335 2,826 9,161 
20254,137 1,413 5,550 
20261,815 — 1,815 
Thereafter3,164 — 3,164 
Total undiscounted lease payments27,281 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 LeasesFinance
Lease
Total
2022 (Remaining nine months ending March 31, 2022)$5,453 $2,119 $7,572 
20236,377 2,826 9,203 
20246,335 2,826 9,161 
20254,137 1,413 5,550 
20261,815 — 1,815 
Thereafter3,164 — 3,164 
Total undiscounted lease payments27,281 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