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LEASES | 6 Months Ended
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Sep. 30, 2023
Leases [Abstract] |
LEASES | LEASES: Right-of-use assets and lease liabilities balances consist of the following (dollars in thousands):
|  | September 30, 2023 |  | March 31, 2023
Right-of-use assets included in other assets, net |  | $ | 26,989 |  |  | $ | 24,604 |
Short-term lease liabilities included in other accrued expenses |  | $ | 9,852 |  |  | $ | 9,929 |
Long-term lease liabilities included in other liabilities |  | $ | 36,172 |  |  | $ | 37,243 |
Supplemental balance sheet information: |  |  |  |
Weighted average remaining lease term |  | 5.7 years |  | 5.6 years
Weighted average discount rate |  | 5.0 | % |  | 3.5 | %
The Company leases its office facilities under non-cancellable operating leases that expire at various dates through fiscal 2031. 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 $4.7 million and $6.2 million for the six months ended September 30, 2023, and 2022, respectively. During the six months ended September 30, 2023, the Company recorded $1.9 million of right-of-use asset impairment charges and $0.4 million of non-lease component restructuring charges that are included in gains, losses and other items, net in the condensed consolidated statements of operations related to certain leased office facilities. Please refer to Note 13, Restructuring, Impairment and Other Charges for further details. The following table presents future minimum payments under all operating leases (including operating leases with a duration of one year or less) as of September 30, 2023. The amount for fiscal 2024 represents the remaining six months ending March 31, 2024. All other periods represent fiscal years ending March 31 (dollars in thousands):
|  | Amount
Fiscal 2024 |  | $ | 5,190 |
Fiscal 2025 |  | 9,885 |
Fiscal 2026 |  | 8,654 |
Fiscal 2027 |  | 8,265 |
Fiscal 2028 |  | 8,454 |
Thereafter |  | 12,828 |
Total undiscounted lease commitments |  | 53,276 |
Less: Interest and short-term leases |  | 7,252 |
Total discounted operating lease liabilities |  | $ | 46,024 |
Future minimum payments as of September 30, 2023 related to restructuring plans as a result of the Company's exit from certain leased office facilities (see Note 13) are as follows (dollars in thousands): Fiscal 2024: $1,349; 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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