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Leases
9 Months Ended
Dec. 31, 2022
Leases [Abstract]  
8. Leases 8. Leases The following tables show the components of our Right-of-Use (“ROU“) assets:     As of December 31, 2022     Finance   Operating   Total     (Unaudited)     (In thousands)               Buildings and improvements $ – $ 142,748 $ 142,748 Furniture and equipment   14,731   –   14,731 Rental trailers and other rental equipment   152,867   –   152,867 Rental trucks   982,119   –   982,119 Right-of-use assets, gross   1,149,717   142,748   1,292,465 Less: Accumulated depreciation   (645,077)   (78,892)   (723,969) Right-of-use assets, net $ 504,640 $ 63,856 $ 568,496       As of March 31, 2022     Finance   Operating   Total     (In thousands)               Buildings and improvements $ – $ 136,444 $ 136,444 Furniture and equipment   14,731   –   14,731 Rental trailers and other rental equipment   169,514   –   169,514 Rental trucks   1,114,248   –   1,114,248 Right-of-use assets, gross   1,298,493   136,444   1,434,937 Less: Accumulated depreciation   (677,669)   (62,062)   (739,731) Right-of-use assets, net $ 620,824 $ 74,382 $ 695,206 As of December 31, 2022 and March 31, 2022, we had finance lease liabilities for the ROU assets, net of $252.1 million and $347.4 million, respectively and operating lease liabilities of $63.4 million and $74.2 million, respectively.     Finance leases       December 31,   March 31,       2022   2022       (Unaudited)   Weighted average remaining lease term (years)   2   3   Weighted average discount rate   3.8 % 3.7 %       Operating leases       December 31,   March 31,       2022   2022       (Unaudited)   Weighted average remaining lease term (years)   18.0   16.5   Weighted average discount rate   4.6 % 4.6 % For the first nine months ended December 31, 2022 and 2021, cash paid for leases included in our operating cash flow activities were $ 24.0 million and $ 22.6 million, respectively, and our financing cash flow activities were $ 95.3 million and $ 129.2 million, respectively.   Non-cash activities of ROU assets in exchange for lease liabilities were $ 5.1 million and $ 3.5 million for the first nine months of fiscal 2023 and 2022, respectively.   The components of lease costs, including leases of less than 12 months, were as follows:     Nine Months Ended     December 31, 2022   December 31, 2021     (Unaudited)     (In thousands)           Operating lease costs $ 24,483 $ 24,018           Finance lease cost:         Amortization of right of use assets $ 62,782 $ 90,056 Interest on lease liabilities   8,799   14,290 Total finance lease cost $ 71,581 $ 104,346 The short-term lease costs for the first nine months of fiscal 2023 and 2022 were not material. Maturities of lease liabilities were as follows:     Finance leases   Operating leases     (Unaudited) Year ending December 31,   (In thousands)           2023 $ 121,093 $ 24,511 2024   85,188   15,398 2025   48,126   5,710 2026   12,114   3,579 2027   –   3,018 Thereafter   –   57,288 Total lease payments   266,521   109,504 Less: imputed interest   (14,419)   (46,102) Present value of lease liabilities $ 252,102 $ 63,402