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Leases (Tables)
3 Months Ended
Jun. 30, 2023
Leases [Abstract]  
Components of Lease Expense 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)20232022
Finance lease cost:
     Amortization of right-of-use assets$665 $665 
     Interest on lease liabilities30 50 
Operating lease cost1,624 1,634 
Short term lease cost33 34 
Variable lease cost16,456 11,999 
Total net lease cost$18,808 $14,382 
The weighted average remaining lease term and weighted average discount rate were as follows:
June 30, 2023
Weighted average remaining lease term (years)
Operating leases3.15
Finance leases1.45
Weighted average discount rate
Operating leases3.51 %
Finance leases2.95 %
Maturities of Operating Leases
As of June 30, 2023, the maturities of lease liabilities were as follows:
(In thousands)
Year Ending March 31,Operating LeasesFinance
Lease
Total
2024 (remaining nine months ending March 31, 2024)$5,265 $2,191 $7,456 
20254,743 1,509 6,252 
20262,260 96 2,356 
20271,889 80 1,969 
20281,436 — 1,436 
Thereafter264 — 264 
Total undiscounted lease payments15,857 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 
Maturities of Finance Leases
As of June 30, 2023, the maturities of lease liabilities were as follows:
(In thousands)
Year Ending March 31,Operating LeasesFinance
Lease
Total
2024 (remaining nine months ending March 31, 2024)$5,265 $2,191 $7,456 
20254,743 1,509 6,252 
20262,260 96 2,356 
20271,889 80 1,969 
20281,436 — 1,436 
Thereafter264 — 264 
Total undiscounted lease payments15,857 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