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LEASES (Tables) | 9 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Schedule of Right-of-use Asset, Lease Liability Balances and Lease Cost | 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 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 |
Schedule of Future Minimum Payments under all Operating Leases | 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 |
Schedule of Future Minimum Payments under Sublease Income | 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 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479773/842-30-50-12 + Details
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