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LEASES (Tables) | 9 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Lease, Cost | The following table reports information about the Company's lease cost for the three and nine months ended December 31, 2020 and 2019:
|  | Three months ended December 31, |  | Nine months ended December 31,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Lease Cost |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 6,939,330 |  |  | $ | 6,636,596 |  |  | $ | 21,027,265 |  |  | $ | 19,289,946 |
Short-term lease cost |  | — |  |  | 1,800 |  |  | 1,800 |  |  | 1,800 |
Variable lease cost |  | 882,559 |  |  | 835,637 |  |  | 2,659,932 |  |  | 2,450,322 |
Total lease cost |  | $ | 7,821,889 |  |  | $ | 7,474,033 |  |  | $ | 23,688,997 |  |  | $ | 21,742,068 |
The following table reports other information about the Company's leases for the three and nine months ended December 31, 2020 and 2019:
|  | Three months ended December 31, |  | Nine months ended December 31,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Other Lease Information |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities |  | $ | 6,845,544 |  |  | $ | 6,515,141 |  |  | $ | 20,694,712 |  |  | $ | 18,818,335 |
Right-of-use assets obtained in exchange for new operating lease liabilities(1) |  | $ | 2,116,215 |  |  | $ | 8,182,788 |  |  | $ | 9,748,709 |  |  | $ | 31,476,079 |
Weighted average remaining lease term — operating leases |  | 7.3 years |  | 8.5 years |  | 7.3 years |  | 8.5 years
Weighted-average discount rate — operating leases |  | 6.3 | % |  | 6.7 | % |  | 6.3 | % |  | 6.7 | %
_______________________________________________________ (1) In May 2019 the Company executed a new 10 year lease agreement for its corporate headquarters in Greenville, South Carolina. The lease payments commenced in December 2019; however, execution of the lease agreement triggered recognition of the right-of-use asset in May 2019 for approximately $15.6 million.
Lessee, Operating Lease, Liability, Maturity | The following table reports information about the maturity of the Company's operating leases as of December 31, 2020:
|  |  |  | December 31, 2020 |  |
Operating lease liability maturity analysis |  |  |  |  |  |
Fiscal 2021 |  |  |  | $ | 6,779,218 |  |  |
Fiscal 2022 |  |  |  | 24,901,962 |  |  |
Fiscal 2023 |  |  |  | 20,560,663 |  |  |
Fiscal 2024 |  |  |  | 16,573,622 |  |  |
Fiscal 2025 |  |  |  | 12,182,488 |  |  |
Fiscal 2026 |  |  |  | 8,500,529 |  |  |
Thereafter |  |  |  | 30,535,307 |  |  |
Total undiscounted lease liability |  |  |  | 120,033,789 |  |  |
Imputed interest |  |  |  | 25,649,254 |  |  |
Total discounted lease liability |  |  |  | $ | 94,384,535 |  |  |

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918686-209980 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=121609121&loc=SL77918701-209980 + Details
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