XML 42 R30.htm IDEA: XBRL DOCUMENT v3.19.3
Leases (Tables)
6 Months Ended
Sep. 30, 2019
Operating Leased Assets [Line Items]  
Lease, Cost [Table Text Block]
The following table reports information about the Company's lease cost for the three and six months ended September 30, 2019:
 
 
Three months ended September 30,
 
Six months ended September 30,
 
 
2019
 
2019
Lease Cost
 
 
 
 
Operating lease cost
 
$
6,331,045

 
$
12,653,350

Variable lease cost
 
808,682

 
1,614,685

Total lease cost
 
$
7,139,727

 
$
14,268,035


Lessee, Operating Lease, Disclosure [Table Text Block]
The following table reports other information about the Company's leases for the three and six months ended September 30, 2019:
 
 
Three months ended September 30,
 
Six months ended September 30,
 
 
2019
 
2019
Other Lease Information
 
 
 
 
Cash paid for amounts included in the measurement of lease liabilities
 
$
6,181,758

 
$
12,303,194

Right-of-use assets obtained in exchange for new operating lease liabilities(1)
 
$
6,424,731

 
$
37,073,292

Weighted average remaining lease term — operating leases
 
5.1 years

 
5.1 years

Weighted-average discount rate — operating leases
 
6.7
%
 
6.7
%
_______________________________________________________
(1) In May 2019 the Company executed a new 10 year lease agreement for its corporate headquarters in Greenville, SC. The lease payments are projected to commence in December 2019; however, execution of the lease agreement triggered recognition of the right-of-use asset in May 2019 for approximately $26.9 million.
Lessee, Operating Lease, Liability, Maturity [Table Text Block]
The following table reports information about the maturity of the Company's operating leases as of September 30, 2019:
Operating lease liability maturity analysis
 
 
FY2020
 
$
12,828,568

FY2021
 
24,253,675

FY2022
 
20,979,001

FY2023
 
16,785,853

FY2024
 
12,317,366

FY2025
 
8,293,707

Thereafter
 
30,005,000

Total undiscounted lease liability
 
$
125,463,170

Imputed interest
 
5,332,753

Total discounted lease liability
 
$
120,130,417