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LEASES | 9 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
LEASES | LEASES Operating Leases The Company primarily leases facilities for office and data center space for its U.S. and international locations under non-cancellable operating leases. The leases expire at various dates through 2030. The following table provides balance sheet information related to leases as of December 31, 2020 (in thousands):
|  | December 31, 2020 |  | March 31, 2020
Assets |  |  |  |
Operating lease, right-of-use assets |  | $ | 70,443 |  |  | $ | 78,963 |
Liabilities |  |  |  |
Operating lease liabilities, current |  | $ | 12,691 |  |  | $ | 5,875 |
Operating lease liabilities, non-current |  | 85,379 |  |  | 92,452 |
Total operating lease liabilities |  | $ | 98,070 |  |  | $ | 98,327 |
The components of lease expense were as follows (in thousands):
|  |  |  | Three Months Ended December 31, |  | Nine Months Ended December 31,
|  |  |  | 2020 |  | 2019 |  | 2020 |  | 2019
Operating lease expense |  |  |  | $ | 3,886 |  |  | $ | 4,436 |  |  | $ | 11,469 |  |  | $ | 10,677 |
Variable lease expense |  |  |  | $ | 729 |  |  | $ | 434 |  |  | $ | 2,368 |  |  | $ | 872 |
Short-term lease expense was immaterial for the three and nine months ended December 31, 2020 and 2019. Cash outflows from operating leases were $6.3 million and $7.2 million, respectively, for the nine months ended December 31, 2020 and 2019. The following table presents supplemental information for the nine months ended December 31, 2020 (in thousands, except for weighted average):
Weighted average remaining lease term |  | 8.5 years
Weighted average discount rate |  | 4.0%
The following table presents future payments of lease liabilities under the Company's non-cancellable operating leases as of December 31, 2020 (in thousands):
Remainder of 2021 |  | $ | 3,586 |
2022 |  | 16,382 |
2023 |  | 15,182 |
2024 |  | 11,835 |
2025 |  | 11,497 |
Thereafter |  | 58,190 |
Total lease payments |  | 116,672 |
Less: imputed interest |  | (18,602) |
Present value of lease liabilities |  | $ | 98,070 |
Lease Assignment In the fourth quarter of fiscal 2018, the Company entered into a 132-month lease agreement (the "Agreement") with CAP Phase I, a Delaware limited liability company (the "Landlord"), to rent approximately 162,000 square feet of office space in a new building in San Jose, California. The lease term began on January 1, 2019. On April 30, 2019, the Company entered into an assignment and assumption (the "Assignment") of the Agreement with the Landlord, and Roku Inc., a Delaware corporation ("Roku"), whereby the Company assigned to Roku the Agreement. Pursuant to the Assignment, the Company expects to be released from all of its obligations under the lease and related standby letter of credit by the end of the Company’s fiscal year ending March 31, 2022, or shortly thereafter. The Company also expects to receive the reimbursement of base rent and direct expenses from Roku by the end of the Company’s fiscal year ending March 31, 2021, in accordance with the Assignment. Amounts related to the Agreement are not included in the right-of-use asset or lease liabilities as of December 31, 2020 or March 31, 2020. The remaining obligations related to the Assignment of $2.8 million and the termination fee of $0.8 million are recorded in Other accrued liabilities and Other liabilities, non-current, respectively, and the expected receivable of $6.4 million due in February 2021 is recorded in Other current assets, on the Company's Condensed Consolidated Balance Sheets as of both December 31, 2020 and March 31, 2020.

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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