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Leases

3 Months Ended

Jun. 30, 2024

Leases [Abstract]

Leases

Leases

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

The components of lease expense for the three months ended June 30, 2024 and 2023 were as follows:

						Three Months Ended June 30,
(In thousands)						2024						2023
Finance lease cost:
Amortization of right-of-use assets						$	665					$	665
Interest on lease liabilities						9						30
Operating lease cost						1,704						1,624
Short term lease cost						32						33
Variable lease cost						16,423						16,456
Total net lease cost						$	18,833					$	18,808

As of June 30, 2024, the maturities of lease liabilities were as follows:

(In thousands)
Year Ending March 31,						Operating Leases						Finance Lease						Total
2025 (remaining nine months ending March 31, 2025)						$	3,348					$	779					$	4,127
2026						2,750						96						2,846
2027						2,214						80						2,294
2028						1,733						—						1,733
2029						374						—						374
Thereafter						1,597						—						1,597
Total undiscounted lease payments						12,016						955						12,971
Less amount of lease payments representing interest						(1,307)						(11)						(1,318)
Total present value of lease payments						$	10,709					$	944					$	11,653

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

									June 30, 2024
Weighted average remaining lease term (years)
			Operating leases						4.28
			Finance leases						0.84
Weighted average discount rate
			Operating leases						4.77		%
			Finance leases						2.89		%

Leases

Leases

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

The components of lease expense for the three months ended June 30, 2024 and 2023 were as follows:

						Three Months Ended June 30,
(In thousands)						2024						2023
Finance lease cost:
Amortization of right-of-use assets						$	665					$	665
Interest on lease liabilities						9						30
Operating lease cost						1,704						1,624
Short term lease cost						32						33
Variable lease cost						16,423						16,456
Total net lease cost						$	18,833					$	18,808

As of June 30, 2024, the maturities of lease liabilities were as follows:

(In thousands)
Year Ending March 31,						Operating Leases						Finance Lease						Total
2025 (remaining nine months ending March 31, 2025)						$	3,348					$	779					$	4,127
2026						2,750						96						2,846
2027						2,214						80						2,294
2028						1,733						—						1,733
2029						374						—						374
Thereafter						1,597						—						1,597
Total undiscounted lease payments						12,016						955						12,971
Less amount of lease payments representing interest						(1,307)						(11)						(1,318)
Total present value of lease payments						$	10,709					$	944					$	11,653

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

									June 30, 2024
Weighted average remaining lease term (years)
			Operating leases						4.28
			Finance leases						0.84
Weighted average discount rate
			Operating leases						4.77		%
			Finance leases						2.89		%

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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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