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Leases

12 Months Ended

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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- 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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