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Leases
 12 Months Ended
Mar. 31, 2023
Leases [Abstract]  
Leases Leases
The components of lease expense for the years ended March 31, 2023 and 2022 were as follows:
March 31,
(In thousands)20232022
Finance lease cost:
     Amortization of right-of-use assets$2,658 $2,579 
     Interest on lease liabilities170 239 
Operating lease cost6,495 6,670 
Short term lease cost153 107 
Variable lease cost59,735 42,868 
Total net lease cost$69,211 $52,463 
As of March 31, 2023, the maturities of lease liabilities were as follows:
(In thousands)
Year Ending March 31,Operating LeasesFinancing LeasesTotal
2024$7,389 $2,922 $10,311 
20254,745 1,509 6,254 
20262,260 96 2,356 
20271,887 80 1,967 
20281,434 — 1,434 
Thereafter257 — 257 
Total undiscounted lease payments17,972 4,607 22,579 
Less amount of lease payments representing interest(1,170)(106)(1,276)
Total present value of lease payments$16,802 $4,501 $21,303 

The weighted average remaining lease term and weighted average discount rate were as follows:
March 31, 2023
Weighted average remaining lease term (years)
Operating leases3.28
Financing leases1.68
Weighted average discount rate
Operating leases3.39 %
Financing leases2.95 %

Under our Master Services Agreement with GEODIS Logistics LLC ("GEODIS"), GEODIS purchased certain assets for our use that went into service during 2022 and 2021. The noncash lease liability arising from obtaining ROU assets was $0.5 million for the assets that went into service in 2022 and $5.2 million for assets that went into service in 2021. These amounts represent noncash financing activities.
Leases Leases
The components of lease expense for the years ended March 31, 2023 and 2022 were as follows:
March 31,
(In thousands)20232022
Finance lease cost:
     Amortization of right-of-use assets$2,658 $2,579 
     Interest on lease liabilities170 239 
Operating lease cost6,495 6,670 
Short term lease cost153 107 
Variable lease cost59,735 42,868 
Total net lease cost$69,211 $52,463 
As of March 31, 2023, the maturities of lease liabilities were as follows:
(In thousands)
Year Ending March 31,Operating LeasesFinancing LeasesTotal
2024$7,389 $2,922 $10,311 
20254,745 1,509 6,254 
20262,260 96 2,356 
20271,887 80 1,967 
20281,434 — 1,434 
Thereafter257 — 257 
Total undiscounted lease payments17,972 4,607 22,579 
Less amount of lease payments representing interest(1,170)(106)(1,276)
Total present value of lease payments$16,802 $4,501 $21,303 

The weighted average remaining lease term and weighted average discount rate were as follows:
March 31, 2023
Weighted average remaining lease term (years)
Operating leases3.28
Financing leases1.68
Weighted average discount rate
Operating leases3.39 %
Financing leases2.95 %

Under our Master Services Agreement with GEODIS Logistics LLC ("GEODIS"), GEODIS purchased certain assets for our use that went into service during 2022 and 2021. The noncash lease liability arising from obtaining ROU assets was $0.5 million for the assets that went into service in 2022 and $5.2 million for assets that went into service in 2021. These amounts represent noncash financing activities.