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Leases (Tables) | 12 Months Ended
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Mar. 31, 2024
Leases [Abstract] |
Components of Lease Expense | The components of lease expense for the years ended March 31, 2024 and 2023 were as follows:
| March 31,
(In thousands) | 2024 |  | 2023
Finance lease cost: |  |  |
Amortization of right-of-use assets | $ | 2,658 |  |  | $ | 2,658 |
Interest on lease liabilities | 88 |  |  | 170 |
Operating lease cost | 6,564 |  |  | 6,495 |
Short term lease cost | 132 |  |  | 153 |
Variable lease cost | 61,069 |  |  | 59,735 |
Total net lease cost | $ | 70,511 |  |  | $ | 69,211 |
The weighted average remaining lease term and weighted average discount rate were as follows:
|  |  | March 31, 2024
Weighted average remaining lease term (years) |  |
| Operating leases |  | 4.13
| Financing leases |  | 0.87
Weighted average discount rate |  |
| Operating leases |  | 4.48 | %
| Financing leases |  | 2.92 | %
Maturities of Operating Leases | As of March 31, 2024, the maturities of lease liabilities were as follows:
(In thousands) |  |  |  |  |  |
Year Ending March 31, |  | Operating Leases |  | Financing Leases |  | Total
2025 |  | $ | 5,109 |  |  | $ | 1,509 |  |  | $ | 6,618 |
2026 |  | 2,626 |  |  | 96 |  |  | 2,722 |
2027 |  | 2,207 |  |  | 80 |  |  | 2,287 |
2028 |  | 1,726 |  |  | — |  |  | 1,726 |
2029 |  | 367 |  |  | — |  |  | 367 |
Thereafter |  | 1,565 |  |  | — |  |  | 1,565 |
Total undiscounted lease payments |  | 13,600 |  |  | 1,685 |  |  | 15,285 |
Less amount of lease payments representing interest |  | (1,414) |  |  | (19) |  |  | (1,433) |
Total present value of lease payments |  | $ | 12,186 |  |  | $ | 1,666 |  |  | $ | 13,852 |
Maturities of Finance Leases | As of March 31, 2024, the maturities of lease liabilities were as follows:
(In thousands) |  |  |  |  |  |
Year Ending March 31, |  | Operating Leases |  | Financing Leases |  | Total
2025 |  | $ | 5,109 |  |  | $ | 1,509 |  |  | $ | 6,618 |
2026 |  | 2,626 |  |  | 96 |  |  | 2,722 |
2027 |  | 2,207 |  |  | 80 |  |  | 2,287 |
2028 |  | 1,726 |  |  | — |  |  | 1,726 |
2029 |  | 367 |  |  | — |  |  | 367 |
Thereafter |  | 1,565 |  |  | — |  |  | 1,565 |
Total undiscounted lease payments |  | 13,600 |  |  | 1,685 |  |  | 15,285 |
Less amount of lease payments representing interest |  | (1,414) |  |  | (19) |  |  | (1,433) |
Total present value of lease payments |  | $ | 12,186 |  |  | $ | 1,666 |  |  | $ | 13,852 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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