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LEASES: | 12 Months Ended
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Mar. 31, 2020
Leases [Abstract] |
Leases | LEASES Right-of-use asset and lease liability balances consist of the following at March 31, 2020 (dollars in millions):
|  | March 31, 2020
Right-of-use assets included in other assets, net |  | $ | 17.8 |
Short-term lease liabilities included in other accrued expenses |  | $ | 9.6 |
Long-term lease liabilities included in other liabilities |  | $ | 11.4 |
The Company leases its office facilities under non-cancellable operating leases that expire at various dates through fiscal 2025. Certain leases contain provisions for property-related costs that are variable in nature for which the Company is responsible, including common area maintenance and other property operating services. These costs are calculated based on a variety of factors including property values, tax and utility rates, property service fees, and other factors. Operating lease costs were $10.1 million for the twelve months ended March 31, 2020. Rent expense recorded prior to the adoption of Topic 842 lease guidance was $12.8 million and $9.5 million for the fiscal years ended March 31, 2019 and 2018, respectively. Supplemental information related to operating leases is as follows (dollars in thousands):
|  | Year ended
|  | March 31, 2020
Operating cash flows used for operating leases |  | $ | 9,906 |
Right-of-use assets obtained in exchange for new lease liabilities |  | $ | 2,707 |
Weighted average remaining lease term |  | 2.4 years
Weighted average discount rate |  | 5.0 | %
Future minimum payments under all operating leases (including operating leases with a duration of one year or less) as of March 31, 2020 are as follows (dollars in thousands):
|  | Amount
Fiscal 2021 |  | $ | 10,703 |
Fiscal 2022 |  | 9,076 |
Fiscal 2023 |  | 2,678 |
Fiscal 2024 |  | 767 |
Fiscal 2025 |  | 65 |
Thereafter |  | — |
Total undiscounted lease commitments |  | 23,289 |
Less: Interest and short-term leases |  | 2,199 |
Total discounted operating lease liabilities |  | $ | 21,090 |
Future minimum payments as of March 31, 2020 related to restructuring plans as a result of the Company's exit from certain leased office facilities (see Note 4) are: Fiscal 2021: $2,560; Fiscal 2022: $2,611; Fiscal 2023: $2,663; Fiscal 2024: $2,698; Fiscal 2025: $2,698; and Thereafter: $1,799. Supplemental information for comparative periods (dollars in thousands): 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 follow:
|  | 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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