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LEASES: | 12 Months Ended
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Mar. 31, 2021
Leases [Abstract] |
LEASES: | LEASES: Right-of-use asset and lease liability balances consist of the following (dollars in millions):
|  | March 31, 2021 |  | March 31, 2020
Right-of-use assets included in other assets, net |  | $ | 11.7 |  |  | $ | 17.8 |
Short-term lease liabilities included in other accrued expenses |  | $ | 9.6 |  |  | $ | 9.6 |
Long-term lease liabilities included in other liabilities |  | $ | 4.2 |  |  | $ | 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 $11.6 million and $10.1 million for the twelve months ended March 31, 2021 and 2020, respectively. Rent expense recorded prior to the adoption of Topic 842 lease guidance was $12.8 million for the fiscal year ended March 31, 2019. Future minimum payments under all operating leases (including operating leases with a duration of one year or less) as of March 31, 2021 are as follows (dollars in thousands):
|  | Amount
Fiscal 2022 |  | $ | 9,960 |
Fiscal 2023 |  | 3,304 |
Fiscal 2024 |  | 1,198 |
Fiscal 2025 |  | 69 |
Total undiscounted lease commitments |  | 14,531 |
Less: Interest and short-term leases |  | 766 |
Total discounted operating lease liabilities |  | $ | 13,765 |
Future minimum payments as of March 31, 2021 related to restructuring plans as a result of the Company's exit from certain leased office facilities (see Note 4) are as follows (dollars in thousands): Fiscal 2022: $2,611; Fiscal 2023: $2,663; Fiscal 2024: $2,698; Fiscal 2025: $2,698; and Fiscal 2026: $1,799.

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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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