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Leases (Tables)

12 Months Ended

Mar. 31, 2022

Leases [Abstract]

Balance Sheet Information for Leases

Balance sheet information for leases is comprised of the following:

			March 31, 2022				March 31, 2021
Leases	Classification
Assets:
Operating	Operating lease assets		$	81,997,000			$	71,513,000
Finance	Plant and equipment			7,470,000				8,852,000
Total leased assets			$	89,467,000			$	80,365,000

Liabilities:
Current
Operating	Operating lease liabilities		$	6,788,000			$	6,439,000
Finance	Other current liabilities			2,330,000				2,640,000
Long-term
Operating	Long-term operating lease liabilities			80,803,000				70,551,000
Finance	Other liabilities			3,425,000				4,995,000
Total lease liabilities			$	93,346,000			$	84,625,000

Lease Cost Recognized in Consolidated Statements of Income

Lease cost recognized in the consolidated statement of operations is comprised of the following:

		Years Ended March 31,
		2022				2021				2020
Lease cost
Operating lease cost		$	12,472,000			$	11,527,000			$	8,733,000
Short-term lease cost			1,462,000				1,383,000				1,263,000
Variable lease cost			1,011,000				825,000				600,000
Finance lease cost:
Amortization of finance lease assets			2,088,000				1,762,000				1,616,000
Interest on finance lease liabilities			345,000				379,000				281,000
Total lease cost		$	17,378,000			$	15,876,000			$	12,493,000

Maturity of Lease Commitments

Maturities of lease commitments at March 31, 2022 were as follows:

Maturity of lease liabilities by fiscal year		Operating Leases				Finance Leases				Total
2023		$	11,497,000			$	2,549,000			$	14,046,000
2024			10,034,000				1,747,000				11,781,000
2025			10,092,000				1,246,000				11,338,000
2026			10,350,000				553,000				10,903,000
2027			10,497,000				89,000				10,586,000
Thereafter			64,620,000				-				64,620,000
Total lease payments			117,090,000				6,184,000				123,274,000
Less amount representing interest			(29,499,000	)			(429,000	)			(29,928,000	)
Present value of lease liabilities		$	87,591,000			$	5,755,000			$	93,346,000

Other Information about Leases

Other information about leases is as follows:

		March 31, 2022				March 31, 2021
Lease term and discount rate
Weighted-average remaining lease term (years):
Finance leases			2.9				3.4
Operating leases			10.4				11.1
Weighted-average discount rate:
Finance leases			5.1	%			5.3	%
Operating leases			5.7	%			5.9	%