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Leases

6 Months Ended

Sep. 30, 2024

Leases [Abstract]

Leases

Leases

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

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

						Three Months Ended September 30,												Six Months Ended September 30,
(In thousands)						2024						2023						2024						2023
Finance lease cost:
Amortization of right-of-use assets						$	664					$	664					$	1,329					$	1,329
Interest on lease liabilities						3						24						12						54
Operating lease cost						1,705						1,624						3,409						3,248
Short term lease cost						31						34						63						67
Variable lease cost						16,125						16,941						32,548						33,397
Total net lease cost						$	18,528					$	19,287					$	37,361					$	38,095

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

(In thousands)
Year Ending March 31,						Operating Leases						Finance Lease						Total
2025 (remaining six months ending March 31, 2025)						$	1,479					$	48					$	1,527
2026						2,783						96						2,879
2027						2,230						80						2,310
2028						1,749						—						1,749
2029						390						—						390
Thereafter						1,662						—						1,662
Total undiscounted lease payments						10,293						224						10,517
Less amount of lease payments representing interest						(1,216)						(7)						(1,223)
Total present value of lease payments						$	9,077					$	217					$	9,294

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

									September 30, 2024
Weighted average remaining lease term (years)
			Operating leases						4.65
			Finance leases						2.34
Weighted average discount rate
			Operating leases						5.19		%
			Finance leases						2.63		%

See Note 17. Subsequent Event for the details of amendments we entered into with our third-party logistics provider.

Leases

Leases

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

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

						Three Months Ended September 30,												Six Months Ended September 30,
(In thousands)						2024						2023						2024						2023
Finance lease cost:
Amortization of right-of-use assets						$	664					$	664					$	1,329					$	1,329
Interest on lease liabilities						3						24						12						54
Operating lease cost						1,705						1,624						3,409						3,248
Short term lease cost						31						34						63						67
Variable lease cost						16,125						16,941						32,548						33,397
Total net lease cost						$	18,528					$	19,287					$	37,361					$	38,095

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

(In thousands)
Year Ending March 31,						Operating Leases						Finance Lease						Total
2025 (remaining six months ending March 31, 2025)						$	1,479					$	48					$	1,527
2026						2,783						96						2,879
2027						2,230						80						2,310
2028						1,749						—						1,749
2029						390						—						390
Thereafter						1,662						—						1,662
Total undiscounted lease payments						10,293						224						10,517
Less amount of lease payments representing interest						(1,216)						(7)						(1,223)
Total present value of lease payments						$	9,077					$	217					$	9,294

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

									September 30, 2024
Weighted average remaining lease term (years)
			Operating leases						4.65
			Finance leases						2.34
Weighted average discount rate
			Operating leases						5.19		%
			Finance leases						2.63		%

See Note 17. Subsequent Event for the details of amendments we entered into with our third-party logistics provider.

X

- 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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