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TOPIC 842 ADOPTION IMPACT AND LEASES: | 6 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Topic 842 Adoption Impact and Leases | TOPIC 842 ADOPTION IMPACT AND LEASES On April 1, 2019, the Company adopted the new lease guidance using a modified retrospective transition method applied to existing leases as of April 1, 2019. Results for reporting periods beginning after March 31, 2019 are presented under the new guidance, while prior period comparative amounts are not adjusted and continue to be reported in accordance with historical guidance. The Company applied the new standard using the practical expedients permitted under the transition guidance where the Company: •did not reassess whether any expired or existing contracts contain a lease; •did not reassess the classification of existing leases; and •did not reassess initial direct costs for any existing leases. The Company uses its incremental borrowing rate at commencement date in determining the present value of lease payments. The Company uses judgment in determining its incremental borrowing rate, which includes selecting a yield curve based on a hypothetical credit rating. The resulting impact, as of the adoption date, to the condensed consolidated balance sheet of applying the new guidance in fiscal 2020 was an increase to right-of-use assets included in other assets, net of $22.9 million, an increase to short-term lease liabilities included in other accrued expenses of $8.4 million, an increase to long-term lease liabilities included in other liabilities of $17.9 million, and a decrease to deferred rent included in other liabilities of $3.4 million. There was no impact to stockholders' equity or the condensed consolidated statements of operations as a result of adopting the new guidance. The Company determines if an arrangement contains a lease or is a lease at inception, and whether lease and non-lease components are combined or not. Operating leases with a duration of less than 12 months are excluded from right-of-use assets and lease liabilities and related expense is recorded as incurred. As of September 30, 2019, right-of-use assets included in other assets, net were $19.2 million, short-term lease liabilities included in other accrued expenses were $8.4 million, and long-term lease liabilities included in other liabilities were $14.2 million. The Company leases its office facilities under non-cancellable operating leases that expire at various dates through fiscal 2024. Operating lease costs were $4.6 million for the six months ended September 30, 2019. Future minimum payments under all operating leases (including operating leases with a duration of less than 12 months) as of September 30, 2019 are as follows (dollars in thousands):
Year |  | Amount
Fiscal 2020 |  | $ | 4,933 |
Fiscal 2021 |  | 8,915 |
Fiscal 2022 |  | 8,253 |
Fiscal 2023 |  | 2,496 |
Fiscal 2024 |  | 587 |
Total undiscounted lease commitments |  | 25,184 |
Less: Interest |  | 2,576 |
Total discounted operating lease liabilities |  | $ | 22,608 |
Future minimum payments as of September 30, 2019 related to restructuring plans as a result of the Company's exit from certain leased office facilities (see Note 14) are: Fiscal 2020: $1,263; Fiscal 2021: $2,560; Fiscal 2022: $2,610; Fiscal 2023: $2,663; Fiscal 2024: $2,699; and Thereafter: $4,497. Supplemental information related to operating leases is as follows (dollars in thousands):
|  | Six Months Ended
|  | September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |
Operating cash flows used in operating leases |  | $ | 4,270 |
Weighted average remaining lease term |  | 3.7 years
Weighted average discount rate |  | 5.0 | %
As previously disclosed in our Fiscal 2019 Annual Report on Form 10-K and under the previous lease accounting standard, the future minimum payments under all operating leases as of March 31, 2019 was as follows (dollars in thousands):
|  | For the years ending March 31, |  |  |  |  |  |  |  |  |  |  |  |
|  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | Thereafter |  | Total
Operating leases |  | $ | 12,057 |  |  | 11,253 |  |  | 10,865 |  |  | 5,160 |  |  | 3,270 |  |  | 4,497 |  |  | $ | 47,102 |

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