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v3.23.2

Leases | 3 Months Ended
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Jun. 30, 2023
Leases [Abstract] |
Leases | Leases We lease real estate and equipment for use in our operations. The components of lease expense for the three months ended June 30, 2023 and 2022 were as follows:
|  |  |  | Three Months Ended June 30,
(In thousands) |  |  |  |  |  | 2023 |  | 2022
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  |  |  |  |  | $ | 665 |  |  | $ | 665 |
Interest on lease liabilities |  |  |  |  |  | 30 |  |  | 50 |
Operating lease cost |  |  |  |  |  | 1,624 |  |  | 1,634 |
Short term lease cost |  |  |  |  |  | 33 |  |  | 34 |
Variable lease cost |  |  |  |  |  | 16,456 |  |  | 11,999 |
Total net lease cost |  |  |  |  |  | $ | 18,808 |  |  | $ | 14,382 |
As of June 30, 2023, the maturities of lease liabilities were as follows:
(In thousands) |  |  |  |  |  |
Year Ending March 31, |  | Operating Leases |  | Finance Lease |  | Total
2024 (remaining nine months ending March 31, 2024) |  | $ | 5,265 |  |  | $ | 2,191 |  |  | $ | 7,456 |
2025 |  | 4,743 |  |  | 1,509 |  |  | 6,252 |
2026 |  | 2,260 |  |  | 96 |  |  | 2,356 |
2027 |  | 1,889 |  |  | 80 |  |  | 1,969 |
2028 |  | 1,436 |  |  | — |  |  | 1,436 |
Thereafter |  | 264 |  |  | — |  |  | 264 |
Total undiscounted lease payments |  | 15,857 |  |  | 3,876 |  |  | 19,733 |
Less amount of lease payments representing interest |  | (1,040) |  |  | (76) |  |  | (1,116) |
Total present value of lease payments |  | $ | 14,817 |  |  | $ | 3,800 |  |  | $ | 18,617 |
The weighted average remaining lease term and weighted average discount rate were as follows:
|  |  | June 30, 2023
Weighted average remaining lease term (years) |  |
| Operating leases |  | 3.15
| Finance leases |  | 1.45
Weighted average discount rate |  |
| Operating leases |  | 3.51 | %
| Finance leases |  | 2.95 | %
Leases | Leases We lease real estate and equipment for use in our operations. The components of lease expense for the three months ended June 30, 2023 and 2022 were as follows:
|  |  |  | Three Months Ended June 30,
(In thousands) |  |  |  |  |  | 2023 |  | 2022
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  |  |  |  |  | $ | 665 |  |  | $ | 665 |
Interest on lease liabilities |  |  |  |  |  | 30 |  |  | 50 |
Operating lease cost |  |  |  |  |  | 1,624 |  |  | 1,634 |
Short term lease cost |  |  |  |  |  | 33 |  |  | 34 |
Variable lease cost |  |  |  |  |  | 16,456 |  |  | 11,999 |
Total net lease cost |  |  |  |  |  | $ | 18,808 |  |  | $ | 14,382 |
As of June 30, 2023, the maturities of lease liabilities were as follows:
(In thousands) |  |  |  |  |  |
Year Ending March 31, |  | Operating Leases |  | Finance Lease |  | Total
2024 (remaining nine months ending March 31, 2024) |  | $ | 5,265 |  |  | $ | 2,191 |  |  | $ | 7,456 |
2025 |  | 4,743 |  |  | 1,509 |  |  | 6,252 |
2026 |  | 2,260 |  |  | 96 |  |  | 2,356 |
2027 |  | 1,889 |  |  | 80 |  |  | 1,969 |
2028 |  | 1,436 |  |  | — |  |  | 1,436 |
Thereafter |  | 264 |  |  | — |  |  | 264 |
Total undiscounted lease payments |  | 15,857 |  |  | 3,876 |  |  | 19,733 |
Less amount of lease payments representing interest |  | (1,040) |  |  | (76) |  |  | (1,116) |
Total present value of lease payments |  | $ | 14,817 |  |  | $ | 3,800 |  |  | $ | 18,617 |
The weighted average remaining lease term and weighted average discount rate were as follows:
|  |  | June 30, 2023
Weighted average remaining lease term (years) |  |
| Operating leases |  | 3.15
| Finance leases |  | 1.45
Weighted average discount rate |  |
| Operating leases |  | 3.51 | %
| Finance leases |  | 2.95 | %

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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