Leases (Tables)

12 Months Ended

Mar. 31, 2021

Leases [Abstract]

Components of Lease Expense

The components of lease expense for the years ended March 31, 2021 and 2020 were as follows:

	March 31,
(In thousands)	2021		2020
Finance lease cost:
Amortization of right-of-use assets	$	2,039	$	522
Interest on lease liabilities	254		84
Operating lease cost	6,754		7,914
Short term lease cost	85		104
Variable lease cost	46,771		64,230
Sublease income	(188)		(3,441)
Total net lease cost	$	55,715	$	69,413

The weighted average remaining lease term and weighted average discount rate were as follows:

		March 31, 2021
Weighted average remaining lease term (years)
	Operating leases	4.66
	Financing leases	3.50
Weighted average discount rate
	Operating leases	5.25	%
	Financing leases	2.98	%

Maturities of Operating Leases

As of March 31, 2021, the maturities of lease liabilities were as follows:

(In thousands)
Year Ending March 31,	Operating Leases		Financing Leases		Total
2022	$	7,032	$	2,826	$	9,858
2023	6,378		2,826		9,204
2024	6,335		2,826		9,161
2025	4,137		1,412		5,549
2026	1,815		—		1,815
Thereafter	3,163		—		3,163
Total undiscounted lease payments	28,860		9,890		38,750
Less amount of lease payments representing interest	(3,296)		(486)		(3,782)
Total present value of lease payments	$	25,564	$	9,404	$	34,968

Maturities of Finance Leases

As of March 31, 2021, the maturities of lease liabilities were as follows:

(In thousands)
Year Ending March 31,	Operating Leases		Financing Leases		Total
2022	$	7,032	$	2,826	$	9,858
2023	6,378		2,826		9,204
2024	6,335		2,826		9,161
2025	4,137		1,412		5,549
2026	1,815		—		1,815
Thereafter	3,163		—		3,163
Total undiscounted lease payments	28,860		9,890		38,750
Less amount of lease payments representing interest	(3,296)		(486)		(3,782)
Total present value of lease payments	$	25,564	$	9,404	$	34,968