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Leases

3 Months Ended

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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- References

No definition available.

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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

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X

- 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

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