LEASES

6 Months Ended

Sep. 30, 2022

We have operating leases for manufacturing facilities, offices, warehouses, vehicles and certain equipment. Our leases have remaining lease terms of 1 year to 26 years, some of which include escalation clauses and/or options to extend or terminate the leases. We do not currently have any financing lease arrangements.


	Three Months Ended September 30,				Six Months Ended September 30,
(in thousands)	2022		2021		2022		2021
Components of Operating Lease Expenses
Operating lease expense (a)	$	2,637	$	2,401	$	5,275	$	4,830
Short-term lease expense	171		63		408		158
Total operating lease expense	$	2,808	$	2,464	$	5,683	$	4,988
(a) Included in cost of revenues and selling, general and administrative expense


(in thousands)	September 30, 2022		March 31, 2022
Operating Lease Assets and Liabilities
Right-of-use assets, net (b)	$	63,106	$	67,076

Short-term lease liabilities (c)	$	9,519	$	9,269
Long-term lease liabilities (c)	59,120		63,275
Total operating lease liabilities	$	68,639	$	72,544
(b) Included in other assets
(c) Included in accrued and other current liabilities and other long-term liabilities


	Six Months Ended September 30,
(in thousands)	2022			2021
Supplemental Cash Flow
Cash paid for amounts included in the measurement of operating lease liabilities (a)	$	5,439		$	4,752
Right-of-use assets obtained in exchange for new operating lease obligations	2,038			133
(a) Included in our condensed consolidated statement of cash flows, operating activities in accounts payable and other current liabilities

Other Information for Operating Leases
Weighted average remaining lease term (in years)	7.46			8.20
Weighted average discount rate	2.2		%	2.3		%


Maturities of operating lease liabilities were as follows (in thousands):
Year Ending March 31, 2023 (excluding the six months ended September 30, 2022)	$	5,535
2024	10,903
2025	10,672
2026	10,328
2027	10,134
Thereafter	27,101
Total lease liabilities	74,673
Less: Imputed interest	(6,034)
Present value of lease liabilities	$	68,639