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Leases (Tables)
12 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Components of Lease Expense
The components of lease expense for the years ended March 31, 2024 and 2023 were as follows:
March 31,
(In thousands)20242023
Finance lease cost:
     Amortization of right-of-use assets$2,658 $2,658 
     Interest on lease liabilities88 170 
Operating lease cost6,564 6,495 
Short term lease cost132 153 
Variable lease cost61,069 59,735 
Total net lease cost$70,511 $69,211 
The weighted average remaining lease term and weighted average discount rate were as follows:
March 31, 2024
Weighted average remaining lease term (years)
Operating leases4.13
Financing leases0.87
Weighted average discount rate
Operating leases4.48 %
Financing leases2.92 %
Maturities of Operating Leases
As of March 31, 2024, the maturities of lease liabilities were as follows:
(In thousands)
Year Ending March 31,Operating LeasesFinancing LeasesTotal
2025$5,109 $1,509 $6,618 
20262,626 96 2,722 
20272,207 80 2,287 
20281,726 — 1,726 
2029367 — 367 
Thereafter1,565 — 1,565 
Total undiscounted lease payments13,600 1,685 15,285 
Less amount of lease payments representing interest(1,414)(19)(1,433)
Total present value of lease payments$12,186 $1,666 $13,852 
Maturities of Finance Leases
As of March 31, 2024, the maturities of lease liabilities were as follows:
(In thousands)
Year Ending March 31,Operating LeasesFinancing LeasesTotal
2025$5,109 $1,509 $6,618 
20262,626 96 2,722 
20272,207 80 2,287 
20281,726 — 1,726 
2029367 — 367 
Thereafter1,565 — 1,565 
Total undiscounted lease payments13,600 1,685 15,285 
Less amount of lease payments representing interest(1,414)(19)(1,433)
Total present value of lease payments$12,186 $1,666 $13,852