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LEASES | 9 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
LEASES | LEASES The Company has operating leases for its offices and fulfillment centers. Fulfillment and customer service centers and corporate office leases expire at various dates through 2038, excluding renewal options. The Company also leases certain equipment under operating and finance leases. The terms of equipment leases are generally five years and do not contain renewal options. These finance leases expire at various dates through 2028. The Company’s finance leases as of December 31, 2023 and March 31, 2023 were not material and were included in property and equipment, net, on the Company’s condensed consolidated balance sheets. The following schedule represents the components of the Company’s operating lease assets (in thousands):
|  |  |  | As of |  | As of
Leases |  | Classification |  | December 31, 2023 |  | March 31, 2023
Assets |  |  |  |  |  |
Operating |  | Operating lease right-of-use assets |  | $ | 33,772 |  |  | $ | 36,892 |
Total operating lease assets |  |  |  | $ | 33,772 |  |  | $ | 36,892 |
Liabilities |  |  |  |  |  |
Operating lease liabilities (current) |  | Operating lease liabilities, current |  | $ | 4,425 |  |  | $ | 5,484 |
Operating lease liabilities (non-current) |  | Operating lease liabilities |  | $ | 44,778 |  |  | $ | 47,240 |
Total operating lease liabilities |  |  |  | $ | 49,203 |  |  | $ | 52,724 |
For the nine months ended December 31, 2023 no assets were acquired in exchange for new operating lease liabilities. For the nine months ended December 31, 2022 assets acquired in exchange for new operating lease liabilities was $17.0 million. Lease expense primarily pertains to operating lease cost. Lease expense for operating leases was $1.9 million and $2.2 million for the three months ended December 31, 2023 and 2022, respectively. Lease expense for operating leases was $5.8 million and $6.7 million for the nine months ended December 31, 2023 and 2022, respectively. These lease expenses were included within general and administrative expenses in the condensed consolidated statements of operations and comprehensive loss. Sublease income for the three and nine months ended December 31, 2023 and 2022 was immaterial and was recorded within other income, net on the Company’s condensed consolidated statements of operations and comprehensive loss. Cash flows used in operating activities related to operating leases was approximately $3.1 million for the nine months ended December 31, 2023.
LEASES | LEASES The Company has operating leases for its offices and fulfillment centers. Fulfillment and customer service centers and corporate office leases expire at various dates through 2038, excluding renewal options. The Company also leases certain equipment under operating and finance leases. The terms of equipment leases are generally five years and do not contain renewal options. These finance leases expire at various dates through 2028. The Company’s finance leases as of December 31, 2023 and March 31, 2023 were not material and were included in property and equipment, net, on the Company’s condensed consolidated balance sheets. The following schedule represents the components of the Company’s operating lease assets (in thousands):
|  |  |  | As of |  | As of
Leases |  | Classification |  | December 31, 2023 |  | March 31, 2023
Assets |  |  |  |  |  |
Operating |  | Operating lease right-of-use assets |  | $ | 33,772 |  |  | $ | 36,892 |
Total operating lease assets |  |  |  | $ | 33,772 |  |  | $ | 36,892 |
Liabilities |  |  |  |  |  |
Operating lease liabilities (current) |  | Operating lease liabilities, current |  | $ | 4,425 |  |  | $ | 5,484 |
Operating lease liabilities (non-current) |  | Operating lease liabilities |  | $ | 44,778 |  |  | $ | 47,240 |
Total operating lease liabilities |  |  |  | $ | 49,203 |  |  | $ | 52,724 |
For the nine months ended December 31, 2023 no assets were acquired in exchange for new operating lease liabilities. For the nine months ended December 31, 2022 assets acquired in exchange for new operating lease liabilities was $17.0 million. Lease expense primarily pertains to operating lease cost. Lease expense for operating leases was $1.9 million and $2.2 million for the three months ended December 31, 2023 and 2022, respectively. Lease expense for operating leases was $5.8 million and $6.7 million for the nine months ended December 31, 2023 and 2022, respectively. These lease expenses were included within general and administrative expenses in the condensed consolidated statements of operations and comprehensive loss. Sublease income for the three and nine months ended December 31, 2023 and 2022 was immaterial and was recorded within other income, net on the Company’s condensed consolidated statements of operations and comprehensive loss. Cash flows used in operating activities related to operating leases was approximately $3.1 million for the nine months ended December 31, 2023.

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