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Leases (Tables)

6 Months Ended

Sep. 30, 2020

Leases [Abstract]

Balance Sheet Information for Leases

Balance sheet information for leases is as follows:

			September 30, 2020				March 31, 2020
Leases	Classification
Assets:
Operating	Operating lease assets		$	68,530,000			$	53,029,000
Finance	Plant and equipment			7,506,000				6,922,000
Total leased assets			$	76,036,000			$	59,951,000

Liabilities:
Current
Operating	Operating lease liabilities		$	6,228,000			$	5,104,000
Finance	Other current liabilities			2,333,000				2,059,000
Long-term
Operating	Long-term operating lease liabilities			72,959,000				61,425,000
Finance	Other liabilities			4,299,000				3,905,000
Total lease liabilities			$	85,819,000			$	72,493,000

Lease Cost Recognized in Consolidated Statements of Income

Lease cost recognized in the condensed consolidated statements of income is as follows:

		Three Months Ended September 30,								Six Months Ended September 30,
		2020				2019				2020				2019
Lease cost
Operating lease cost		$	2,877,000			$	1,987,000			$	5,560,000			$	3,885,000
Short-term lease cost			337,000				295,000				654,000				698,000
Variable lease cost			230,000				157,000				373,000				287,000
Finance lease cost:
Amortization of finance lease assets			428,000				372,000				841,000				730,000
Interest on finance lease liabilities			93,000				73,000				176,000				141,000
Total lease cost		$	3,965,000			$	2,884,000			$	7,604,000			$	5,741,000

Maturity of Lease Commitments

Maturities of lease commitments at September 30, 2020 were as follows:

Maturity of lease liabilities		Operating Leases				Finance Leases				Total
2021 - remaining six months		$	5,521,000			$	1,310,000			$	6,831,000
2022			10,348,000				2,438,000				12,786,000
2023			9,269,000				1,800,000				11,069,000
2024			8,102,000				1,026,000				9,128,000
2025			8,095,000				618,000				8,713,000
Thereafter			69,261,000				87,000				69,348,000
Total lease payments			110,596,000				7,279,000				117,875,000
Less amount representing interest			(31,409,000	)			(647,000	)			(32,056,000	)
Present value of lease liabilities		$	79,187,000			$	6,632,000			$	85,819,000

Other Information about Leases

Other information about leases is as follows:

		September 30, 2020
Lease term and discount rate
Weighted-average remaining lease term (years):
Finance leases			3.3
Operating leases			11.5
Weighted-average discount rate:
Finance leases			5.6	%
Operating leases			5.9	%