XML 22 R10.htm IDEA: XBRL DOCUMENT
v3.25.0.1

LEASES | 9 Months Ended
--- | ---
Dec. 31, 2024
Leases [Abstract] |
LEASES | 4. LEASES: Right-of-use assets and lease liabilities balances consist of the following (dollars in thousands):
|  | December 31, 2024 |  | March 31, 2024
Right-of-use assets included in other assets, net |  | $ | 21,255 |  |  | $ | 24,471 |
Short-term lease liabilities included in other accrued expenses |  | $ | 9,391 |  |  | $ | 10,125 |
Long-term lease liabilities included in other liabilities |  | $ | 28,757 |  |  | $ | 32,097 |
Supplemental balance sheet information: |  |  |  |
Weighted average remaining lease term |  | 4.7 years |  | 5.3 years
Weighted average discount rate |  | 5.4 | % |  | 5.3 | %
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. The components of lease cost, net for the nine months ended December 31, 2024 and 2023, respectively, were as follows (dollars in thousands):
|  | For the nine months ended December 31,
|  | 2024 |  | 2023
Operating lease costs |  | $ | 6,065 |  |  | $ | 7,246 |
Operating sublease income |  | 802 |  |  | — |
Total leases costs, net |  | $ | 5,263 |  |  | $ | 7,246 |
The following table presents future minimum payments under all operating leases and subleases (including operating leases with a duration of one year or less and excluding ASC 840 leases related to restructuring plans) as of December 31, 2024. The amount for fiscal 2025 represents the remaining three months ending March 31, 2025. All other periods represent fiscal years ending March 31 (dollars in thousands):
|  | Operating lease payments |  | Payments expected under noncancellable subleases |  | Net operating lease payments
Fiscal 2025 |  | $ | 2,389 |  |  | $ | (303) |  |  | 2,086 |
Fiscal 2026 |  | 9,573 |  |  | (1,662) |  |  | 7,911 |
Fiscal 2027 |  | 9,026 |  |  | (2,084) |  |  | 6,942 |
Fiscal 2028 |  | 9,162 |  |  | (2,147) |  |  | 7,015 |
Fiscal 2029 |  | 8,872 |  |  | (2,211) |  |  | 6,661 |
Thereafter |  | 4,301 |  |  | (189) |  |  | 4,112 |
Total undiscounted lease payments |  | 43,323 |  |  | (8,596) |  |  | 34,727 |
Less: Interest and short-term leases |  | 5,175 |  |  | (1,346) |  |  | 3,829 |
Total discounted operating lease liabilities |  | $ | 38,148 |  |  | $ | (7,250) |  |  | $ | 30,898 |
Future minimum payments as of December 31, 2024 related to ASC 840 lease liabilities under 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 2025: $675; and Fiscal 2026: $1,799.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration