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Leases (Tables)
3 Months Ended
Jun. 30, 2022
Leases [Abstract]  
Components of Lease Expense The components of lease expense for the three months ended June 30, 2022 and 2021 were as follows:
Three Months Ended June 30,
(In thousands)20222021
Finance lease cost:
     Amortization of right-of-use assets$665 $642 
     Interest on lease liabilities50 66 
Operating lease cost1,634 1,687 
Short term lease cost34 22 
Variable lease cost11,999 11,651 
Total net lease cost$14,382 $14,068 
The weighted average remaining lease term and weighted average discount rate were as follows:
June 30, 2022
Weighted average remaining lease term (years)
Operating leases3.81
Finance leases2.40
Weighted average discount rate
Operating leases3.08 %
Finance leases2.95 %
Maturities of Operating Leases
As of June 30, 2022, the maturities of lease liabilities were as follows:
(In thousands)
Year Ending March 31,Operating LeasesFinance
Lease
Total
2023 (Remaining nine months ending March 31, 2023)$5,382 $2,191 $7,573 
20246,850 2,923 9,773 
20254,586 1,509 6,095 
20262,181 96 2,277 
20271,883 80 1,963 
Thereafter1,682 — 1,682 
Total undiscounted lease payments22,564 6,799 29,363 
Less amount of lease payments representing interest(1,556)(227)(1,783)
Total present value of lease payments$21,008 $6,572 $27,580 
Maturities of Finance Leases
As of June 30, 2022, the maturities of lease liabilities were as follows:
(In thousands)
Year Ending March 31,Operating LeasesFinance
Lease
Total
2023 (Remaining nine months ending March 31, 2023)$5,382 $2,191 $7,573 
20246,850 2,923 9,773 
20254,586 1,509 6,095 
20262,181 96 2,277 
20271,883 80 1,963 
Thereafter1,682 — 1,682 
Total undiscounted lease payments22,564 6,799 29,363 
Less amount of lease payments representing interest(1,556)(227)(1,783)
Total present value of lease payments$21,008 $6,572 $27,580