v3.25.4
Intangible Assets
 9 Months Ended
Dec. 31, 2025
Intangible Assets, Net (Excluding Goodwill) [Abstract]  
Intangible Assets Intangible Assets
Our intangible assets consist of the following at the dates indicated:
December 31, 2025March 31, 2025
DescriptionWeighted-
Average
Remaining
Useful Life		Gross Carrying
Amount		Accumulated
Amortization		NetGross Carrying
Amount		Accumulated
Amortization		Net
(in years)(in thousands)
Customer relationships17.4$857,903 $(294,826)$563,077 $857,903 $(264,675)$593,228 
Customer commitments18.5192,000 (49,920)142,080 192,000 (44,160)147,840 
Rights-of-way and easements25.2111,010 (25,775)85,235 99,964 (21,645)78,319 
Debt issuance costs (1)
3.222,329 (8,176)14,153 21,841 (4,748)17,093 
Executory contracts and other agreements23.119,906 (4,455)15,451 19,973 (5,106)14,867 
Total $1,203,148 $(383,152)$819,996 $1,191,681 $(340,334)$851,347 
(1)    Includes debt issuance costs related to the ABL Facility (as defined herein). Debt issuance costs related to the fixed-rate notes and Term Loan B (as defined herein) are reported as a reduction of the carrying amount of long-term debt.

Amounts in the table above do not include assets classified as either held for sale or discontinued operations within our March 31, 2025 consolidated balance sheet (see Note 16).

Amortization expense is as follows for the periods indicated:
Three Months Ended December 31,Nine Months Ended December 31,
Recorded In2025202420252024
(in thousands)
Depreciation and amortization$14,561 $13,960 $41,024 $42,059 
Cost of sales - product— 110 — 147 
Interest expense1,147 1,092 3,428 3,028 
Operating expenses62 62 185 185 
Total$15,770 $15,224 $44,637 $45,419 

Amounts in the table above do not include amortization expense related to our refined products and biodiesel businesses, as these amounts have been classified within discontinued operations within our unaudited condensed consolidated statements of operations (see Note 16).
The following table summarizes expected amortization of our intangible assets at December 31, 2025 (in thousands):
Year Ending March 31,
2026 (three months)$15,943 
202763,370 
202855,169 
202951,791 
203044,534 
203143,769 
Thereafter545,420 
Total$819,996