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Leases | 12 Months Ended
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Mar. 31, 2023
Leases [Abstract] |
Leases | 6. Leases The majority of our leases are comprised of real estate leases for our respective offices around the globe. Our finance leases consist of office equipment. We have no residual value guarantees or restrictions or covenants imposed by or associated with our active leases. During April 2023, we entered into a lease agreement for approximately $1.4 million that will commence in fiscal year 2024 with a lease term of approximately 3.5 years. We do not have any related party leases. We have variable payments for expenses such as common area maintenance and taxes. We do not have variable payments that are based on an index or rate. As a result, we do not include variable payments in the calculation of the lease liability. Any variable costs are expensed as incurred. We sublease one of our office leases located in Bellevue, Washington with a lease term that will expire during fiscal year 2024. The components of lease expenses, which are included in operating expenses in our Consolidated Statements of Operations, were as follows:
|  | Year ended March 31, |
(In thousands) |  | 2023 |  |  | 2022 |
Operating leases expense |  | $ | 5,301 |  |  | $ | 4,752 |
Finance lease expense: |  |  |  |  |  |
Amortization of ROU assets |  |  | 3 |  |  |  | 17 |
Interest on lease liabilities |  |  | 1 |  |  |  | 2 |
Total finance lease expense |  |  | 4 |  |  |  | 19 |
Variable lease costs |  |  | 700 |  |  |  | 463 |
Short term lease expense |  |  | 300 |  |  |  | 140 |
Sublease income |  |  | (789 | ) |  |  | (782 | )
Total lease expense |  | $ | 5,516 |  |  | $ | 4,592 |
Other information related to leases for fiscal 2023 and 2022 was as follows:
|  | Year ended March 31, |
Supplemental cash flow information |  | 2023 |  |  | 2022 |
Cash paid for amounts included in the measurement of lease liabilities (in thousands): |  |  |  |  |  |
Operating cash flows for operating leases |  | $ | 5,862 |  |  | $ | 5,536 |
Operating cash flows for finance leases |  |  | 6 |  |  |  | 23 |
Financing cash flows for finance leases |  |  | 4 |  |  |  | 19 |
ROU assets obtained in exchange for lease obligations (in thousands): |  |  |  |  |  |
Operating leases |  | $ | 8,292 |  |  | $ | 1,314 |
Weighted average remaining lease terms |  |  |  |  |  |
Operating leases |  |  | 7.59 |  |  |  | 3.08 |
Finance leases |  |  | 0.58 |  |  |  | 1.43 |
Weighted average discount rates |  |  |  |  |  |
Operating leases |  |  | 6.44 | % |  |  | 7.62 | %
Finance leases |  |  | 4.50 | % |  |  | 4.50 | %
The table below reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under non-cancelable leases with terms of more than one year to the total lease liabilities recognized on the Consolidated Balance Sheet as of March 31, 2023:
(In thousands) |  | Operating leases (1) |  |  | Finance leases |
Fiscal year ending March 31, |  |  |  |  |  |
2024 |  | $ | 3,408 |  |  | $ | 2 |
2025 |  |  | 2,905 |  |  |  |
2026 |  |  | 2,726 |  |  |  |
2027 |  |  | 2,219 |  |  |  |
2028 |  |  | 1,431 |  |  |  |
Thereafter |  |  | 8,816 |  |  |  |
Total undiscounted future minimum lease payments |  |  | 21,505 |  |  |  | 2 |
Less: difference between undiscounted lease payments and discounted lease liabilities |  |  | (4,765 | ) |  |  | — |
Total lease liabilities |  | $ | 16,740 |  |  | $ | 2 |
(1) Non-cancellable sublease proceeds for the fiscal year ending March 31, 2024 of $0.7 million is not included in the table above.

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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