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Note 5 - Leases

12 Months Ended

Mar. 31, 2023

Note 5. Leases

We have operating leases for buildings and office equipment. The following table presents the lease balances within the Consolidated Balance Sheets related to our operating leases:

Lease Assets and Liabilities	*Balance Sheet Location*	*March 31, 2023*		*March 31, 2022*
Operating lease ROU asset	Other assets	$	8,693	$	10,201
Current operating lease liabilities	Other accrued expenses		2,868		2,768
Noncurrent operating lease liabilities	Other long-term liabilities		5,752		7,436

The components of lease costs, the weighted average remaining lease term and the weighted average discount rate were as follows:

	*Year Ended March 31,*
	*2023*			*2022*
Operating lease expense	$	3,064		$	1,973
Variable lease expense		704			419
Total lease expense	$	3,768		$	2,392
Weighted average remaining lease term in years		3.3			4.3
Weighted average discount rate		2.0	%		1.7	%

Supplemental cash flow information related to leases was as follows:

	Year Ended March 31,
	2023		2022
Cash paid for amounts included in the measurements of lease liabilities	$	3,017	$	1,896
Operating lease assets obtained in exchange for operating lease obligations		1,426		10,577

Maturities of lease liabilities are as follows as for the years ending March 31:

2024	$	3,018
2025		2,384
2026		1,984
2027		1,490
Future value of lease liabilities		8,876
Less: imputed interest		256
Present value of lease liabilities	$	8,620