Note

Leases

As of

March 31, 2020,

we have operating leases for buildings, warehouses, and office equipment. Our operating lease right of use ("ROU") assets and liabilities increased significantly during the year ended

March 31, 2020

because of the GPT Acquisition described in Note

"Significant Transactions." We accounted for the

four

property leases acquired as part of our acquisition of GPT by measuring the lease liability at the present value of the remaining lease payments as if the acquired lease were a new lease for Mesa.

The following table presents the lease balances within the Consolidated Balance Sheets related to our operating leases as of

March 31, 2020:

Lease Assets and Liabilities	Balance Sheet Location	March 31, 2020
Operating lease ROU asset	Other assets	$	2,480
Current operating lease liabilities	Other accrued expenses		1,095
Noncurrent operating lease liabilities	Other long-term liabilities		1,262

Lease term and discount rates were as follows as of

March 31, 2020:

	March 31, 2020
Weighted average remaining lease term in years		2.3
Weighted average discount rate		3.9	%

The components of lease costs were as follows:

	Year Ended March 31, 2020
Operating lease expense	$	987
Variable lease expense		68
Total lease expense	$	1,055

Supplemental cash flow information related to leases were as follows:

	Year Ended March 31, 2020
Cash paid for amounts included in the measurements of lease liabilities	$	914
Operating lease assets obtained in exchange for operating lease obligations		1,845

Maturities of lease liabilities were as follows as of

March 31, 2020:

2021	$	1,205
2022		854
2023		416
Future value of lease liabilities		2,475
Less: imputed interest		118
Present value of lease liabilities	$	2,357