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Leases (Tables)

9 Months Ended

Dec. 31, 2023

Leases [Abstract]

Balance Sheet Information for Leases

Balance sheet information for leases is as follows:

Leases		Classification		December 31, 2023				March 31, 2023
Assets:
Operating		Operating lease assets		$	85,187,000			$	87,619,000
Finance		Plant and equipment			4,251,000				5,549,000
Total leased assets				$	89,438,000			$	93,168,000

Liabilities:
Current
Operating		Operating lease liabilities		$	8,564,000			$	8,767,000
Finance		Other current liabilities			1,564,000				1,851,000
Long-term
Operating		Long-term operating lease liabilities			73,725,000				79,318,000
Finance		Other liabilities			1,640,000				2,742,000
Total lease liabilities				$	85,493,000			$	92,678,000

Lease Cost Recognized in Consolidated Statement of Operations

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

		Three Months Ended								Nine Months Ended
		December 31,								December 31,
		2023				2022				2023				2022
Lease cost
Operating lease cost		$	3,740,000			$	3,232,000			$	11,243,000			$	9,527,000
Short-term lease cost			274,000				340,000				917,000				1,353,000
Variable lease cost			138,000				164,000				470,000				528,000
Finance lease cost:
Amortization of finance lease assets			361,000				503,000				1,155,000				1,531,000
Interest on finance lease liabilities			51,000				68,000				170,000				200,000
Total lease cost		$	4,564,000			$	4,307,000			$	13,955,000			$	13,139,000

Maturity of Lease Commitments

Maturities of lease commitments at December 31, 2023 by fiscal year were as follows:

Maturity of lease liabilities		Operating Leases				Finance Leases				Total
2024 - remaining three months		$	3,506,000			$	483,000			$	3,989,000
2025			12,514,000				1,577,000				14,091,000
2026			12,200,000				844,000				13,044,000
2027			10,974,000				353,000				11,327,000
2028			10,873,000				194,000				11,067,000
Thereafter			54,486,000				2,000				54,488,000
Total lease payments			104,553,000				3,453,000				108,006,000
Less amount representing interest			(22,264,000	)			(249,000	)			(22,513,000	)
Present value of lease liabilities		$	82,289,000			$	3,204,000			$	85,493,000

Other Information about Leases

Other information about leases is as follows:

		December 31, 2023				March 31, 2023
Lease term and discount rate
Weighted-average remaining lease term (years):
Finance leases			2.4				2.9
Operating leases			8.5				9.0
Weighted-average discount rate:
Finance leases			6.0	%			5.9	%
Operating leases			5.8	%			5.8	%