XML 143 R23.htm IDEA: XBRL DOCUMENT
v3.23.3

Leases Leases (Notes) | 6 Months Ended
--- | ---
Sep. 30, 2023
Leases [Abstract] |
Lessee, Operating Leases | 15. Leases The Company’s lease arrangements generally include real estate (manufacturing facilities, sales offices, distribution centers, warehouses), vehicles, and equipment. Leases with a term greater than one year are recognized on the Consolidated Balance Sheet; the Company has elected not to recognize leases with terms of one year or less on the Consolidated Balance Sheet. Lease obligations and their corresponding ROU assets are recorded based on the present value of lease payments over the expected lease term. The Company recognizes lease expense on a straight-line basis over the lease term. The Company's leases have lease terms ranging from 1 to 23 years, some of which include options to extend or terminate the lease. The exercise of lease renew all options is at the Company’s sole discretion. When deemed reasonably certain of exercise, the renewal options are included in the determination of the lease term. The Company’s lease agreements do not contain material residual value guarantees or any material restrictive covenants. The following table illustrates the lease-related assets and liabilities recorded on the Condensed Consolidated Balance Sheet (in thousands):
| September 30, 2023 | March 31, 2023
Operating leases: |  |
Other assets | $ | 52,252 |  | $ | 53,551 |
Accrued liabilities | 8,121 |  | 7,966 |
Other non current liabilities | 46,530 |  | 46,524 |
Total operating liabilities | $ | 54,651 |  | $ | 54,490 |
Finance lease: |  |
Net property, plant, and equipment | $ | 12,096 |  | $ | 12,597 |
Current portion of long-term debt and finance lease obligation | 636 |  | 604 |
Term loan and finance lease obligations | 12,611 |  | 12,937 |
Total finance liabilities | $ | 13,247 |  | $ | 13,541 |
Operating lease expense of $3,110,000 and $6,120,000 and $2,187,000 and $4,341,000 for the three and six months ended September 30, 2023 and September 30, 2022, respectively, is included in Income from operations on the Condensed Consolidated Statements of Operations. Short-term lease expense, sublease income, and variable lease expenses were not material for the three and six months ended September 30, 2023 and September 30, 2022, respectively. Finance lease expense of $250,000 and $501,000 for the three and six months ended September 30, 2023 and September 30, 2022, respectively, is included in Income from operations on the Condensed Consolidated Statements of Operations. Interest and debt expense related to the finance lease of $151,000 and $302,000 and $157,000 and $315,000 is included the Company's Condensed Consolidated Statements of Operations in the three and six months ended September 30, 2023 and September 30, 2022, respectively. Supplemental cash flow information related to leases is as follows (in thousands):
| Six Months Ended September 30, |
| 2023 | 2022 |
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 4,966 |  | $ | 4,277 |  |
Cash paid for amounts included in the measurement of finance lease liabilities | $ | 596 |  | $ | 578 |  |
ROU assets obtained in exchange for new operating lease liabilities | $ | 4,220 |  | $ | 3,026 |  |

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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration