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Commitments and Contingencies
 12 Months Ended
Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

11. Commitments and Contingencies

The Company leases corporate and branch offices under operating lease agreements which provide for annual minimum rental payments as follows:

 

Fiscal Year Ending March 31

    (In thousands)  
2019
    $ 1,984  

2020

      1,160  

2021

      303  

2022

      44  

2023

      11  
  

 

 

  
   $ 3,502  
  

 

 

  

Rent expense for the fiscal years ended March 31, 2018, 2017, and 2016 was approximately $2.3, $2.4, and $2.3 million respectively. The Company recognizes rent expense on a straight-line basis over the term of the lease, taking into account, when applicable, lessor incentives for tenant improvements, periods where no rent payment is required and escalations in rent payments over the term of the lease.

The Company currently is not a party to any pending legal proceedings other than ordinary routine litigation incidental to its business, none of which, if decided adversely to the Company, would, in the opinion of management, have a material adverse effect on the Company’s financial condition or results of operations.