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Leases

9 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

Leases

We lease real estate and equipment for use in our operations.

The components of lease expense for the three and nine months ended December 31, 2023 and 2022 were as follows:

						Three Months Ended December 31,												Nine Months Ended December 31,
(In thousands)						2023						2022						2023						2022
Finance lease cost:
Amortization of right-of-use assets						$	665					$	665					$	1,994					$	1,994
Interest on lease liabilities						20						41						74						136
Operating lease cost						1,624						1,621						4,872						4,872
Short term lease cost						34						35						101						120
Variable lease cost						14,488						14,727						47,885						43,742
Total net lease cost						$	16,831					$	17,089					$	54,926					$	50,864

As of December 31, 2023, the maturities of lease liabilities were as follows:

(In thousands)
Year Ending March 31,						Operating Leases						Finance Lease						Total
2024 (remaining three months ending March 31, 2024)						$	1,806					$	731					$	2,537
2025						4,834						1,509						6,343
2026						2,348						96						2,444
2027						1,916						80						1,996
2028						1,437						—						1,437
Thereafter						265						—						265
Total undiscounted lease payments						12,606						2,416						15,022
Less amount of lease payments representing interest						(818)						(33)						(851)
Total present value of lease payments						$	11,788					$	2,383					$	14,171

The weighted average remaining lease term and weighted average discount rate were as follows:

									December 31, 2023
Weighted average remaining lease term (years)
			Operating leases						2.95
			Finance leases						1.03
Weighted average discount rate
			Operating leases						3.80		%
			Finance leases						2.93		%

Leases

Leases

We lease real estate and equipment for use in our operations.

The components of lease expense for the three and nine months ended December 31, 2023 and 2022 were as follows:

						Three Months Ended December 31,												Nine Months Ended December 31,
(In thousands)						2023						2022						2023						2022
Finance lease cost:
Amortization of right-of-use assets						$	665					$	665					$	1,994					$	1,994
Interest on lease liabilities						20						41						74						136
Operating lease cost						1,624						1,621						4,872						4,872
Short term lease cost						34						35						101						120
Variable lease cost						14,488						14,727						47,885						43,742
Total net lease cost						$	16,831					$	17,089					$	54,926					$	50,864

As of December 31, 2023, the maturities of lease liabilities were as follows:

(In thousands)
Year Ending March 31,						Operating Leases						Finance Lease						Total
2024 (remaining three months ending March 31, 2024)						$	1,806					$	731					$	2,537
2025						4,834						1,509						6,343
2026						2,348						96						2,444
2027						1,916						80						1,996
2028						1,437						—						1,437
Thereafter						265						—						265
Total undiscounted lease payments						12,606						2,416						15,022
Less amount of lease payments representing interest						(818)						(33)						(851)
Total present value of lease payments						$	11,788					$	2,383					$	14,171

The weighted average remaining lease term and weighted average discount rate were as follows:

									December 31, 2023
Weighted average remaining lease term (years)
			Operating leases						2.95
			Finance leases						1.03
Weighted average discount rate
			Operating leases						3.80		%
			Finance leases						2.93		%

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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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- 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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