Leases (Tables)

9 Months Ended

Dec. 31, 2019

Balance sheet information for leases is as follows:

		December 31, 2019
Leases	Classification
Assets:
Operating	Operating lease assets	$	65,652,000
Finance	Plant and equipment		6,718,000
Total leased assets		$	72,370,000

Liabilities:
Current
Operating	Operating lease liabilities	$	4,991,000
Finance	Other current liabilities		1,965,000
Long-term
Operating	Long-term operating lease liabilities		61,805,000
Finance	Other liabilities		3,766,000
Total lease liabilities		$	72,527,000

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

	Three Months Ended December 31,		Nine Months Ended December 31,
	2019		2019
Lease cost
Operating lease cost	$	2,402,000	$	6,287,000
Short-term lease cost		278,000		976,000
Variable lease cost		133,000		420,000
Finance lease cost:
Amortization of finance lease assets		448,000		1,178,000
Interest on finance lease liabilities		73,000		214,000
Total lease cost	$	3,334,000	$	9,075,000

Maturities of lease commitments at December 31, 2019 were as follows:

Maturity of lease liabilities	Operating Leases			Finance Leases			Total
2020 - remaining three months	$	2,273,000		$	584,000		$	2,857,000
2021		8,472,000			2,095,000			10,567,000
2022		7,711,000			1,760,000			9,471,000
2023		6,544,000			1,149,000			7,693,000
2024		6,479,000			481,000			6,960,000
Thereafter		63,306,000			113,000			63,419,000
Total lease payments		94,785,000			6,182,000			100,967,000
Less amount representing interest		(27,989,000	)		(451,000	)		(28,440,000	)
Present value of lease liabilities	$	66,796,000		$	5,731,000		$	72,527,000

Other information about leases is as follows:

	Nine Months Ended December 31,
	2019
Lease term and discount rate
Weighted-average remaining lease term (years):
Finance leases		3.2
Operating leases		12.2
Weighted-average discount rate:
Finance leases		4.8	%
Operating leases		5.7	%