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Leases | 12 Months Ended
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Mar. 31, 2024
Leases [Abstract] |
Leases | Leases 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 |
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 |
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 | %
Under our Master Services Agreement with GEODIS Logistics LLC ("GEODIS"), GEODIS purchased certain assets for our use that went into service during 2022. The noncash lease liability arising from obtaining ROU assets was $0.5 million for these assets. These amounts represent noncash financing activities.
Leases | Leases 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 |
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 |
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 | %
Under our Master Services Agreement with GEODIS Logistics LLC ("GEODIS"), GEODIS purchased certain assets for our use that went into service during 2022. The noncash lease liability arising from obtaining ROU assets was $0.5 million for these assets. These amounts represent noncash financing activities.

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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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