LESSEE ACCOUNTING (Tables)

12 Months Ended

Mar. 31, 2020

LESSEE ACCOUNTING [Abstract]

Supplemental Information of Remaining Lease Terms and Discount Rates

Supplemental information about the remaining lease terms and discount rates applied as of March 31, 2020:

Lease term and Discount Rate	March 31, 2020
Weighted average remaining lease term (months)		38
Weighted average discount rate		3.9	%

Future Lease Payments Under Operating Leases

As of March 31, 2020, we have future lease payments under our operating leases (in thousands):

	March 31, 2020
Year ending March 31, 2021	$	4,904
2022		4,038
2023		3,054
2024		1,206
Thereafter		762
Total lease payments	$	13,964
Less: Interest		(823	)
Present value of lease liabilities	$	13,141

Future Minimum Lease Payments for Operating Leases Contractual Obligations

We had annual rent expense relating to operating leases of $5.2 million and $6.7 million for the years ended March 31, 2019, and 2018, respectively. As of March 31, 2019, we had future minimum lease payments under operating leases as follows (in thousands):

	March 31, 2019
Year ending March 31, 2020	$	4,530
2021		4,026
2022		2,727
2023		2,025
2024 and thereafter		293
Total lease payments	$	13,601