Leases (Tables)

3 Months Ended

Jun. 30, 2019

Balance sheet information for leases is as follows:

		June 30, 2019
Leases	Classification
Assets:
Operating	Operating lease assets	$	50,103,000
Finance	Plant and equipment		5,206,000
Total leased assets		$	55,309,000

Liabilities:
Current
Operating	Operating lease liabilities	$	3,976,000
Finance	Other current liabilities		1,855,000
Long-term
Operating	Long-term operating lease liabilities		48,155,000
Finance	Other liabilities		3,325,000
Total lease liabilities		$	57,311,000

Lease cost recognized in the consolidated statement of operations is as follows:

	Three Months Ended June 30,
	2019
Lease cost
Operating lease cost	$	1,898,000
Short-term lease cost		403,000
Variable lease cost		130,000
Finance lease cost:
Amortization of finance lease assets		358,000
Interest on finance lease liabilities		68,000

Total lease cost	$	2,857,000

Maturities of lease commitments at June 30, 2019 were as follows:

Maturity of lease liabilities	Operating Leases			Finance Leases			Total
2020 - remaining nine months	$	5,217,000		$	1,611,000		$	6,828,000
2021		6,258,000			1,700,000			7,958,000
2022		5,895,000			1,367,000			7,262,000
2023		4,913,000			789,000			5,702,000
2024		4,861,000			130,000			4,991,000
Thereafter		47,262,000			-			47,262,000
Total lease payments	$	74,406,000		$	5,597,000		$	80,003,000
Less amount representing interest		(22,275,000	)		(417,000	)		(22,692,000	)
Present value of lease liabilities	$	52,131,000		$	5,180,000		$	57,311,000

Other information about leases is as follows:

	Three Months Ended June 30,
	2019
Lease term and discount rate
Weighted-average remaining lease term (years):
Finance leases		3.1
Operating leases		12.4
Weighted-average discount rate:
Finance leases		5.0	%
Operating leases		5.6	%