Leases

3 Months Ended

Jun. 30, 2023

Leases [Abstract]

Leases

Note 15: Leases

Lease Assets and Liabilities

The following table provides a summary of leases recorded on the consolidated balance sheets.

	Balance Sheet Location	June 30, 2023		March 31, 2023
Lease Assets
Operating lease ROU assets	Other noncurrent assets	$	57.4	$	59.1
Finance lease ROU assets (a)	Property, plant and equipment – net		7.0		7.1
Lease Liabilities
Operating lease liabilities	Other current liabilities	$	11.8	$	11.8
Operating lease liabilities	Other noncurrent liabilities		47.3		48.9
Finance lease liabilities	Long-term debt – current portion		0.4		0.4
Finance lease liabilities	Long-term debt		2.2		2.3

(a) Finance lease right-of-use (“ROU”) assets were recorded net of accumulated amortization of $3.3 million and $3.2 million as of June 30, 2023 and March 31, 2023, respectively.

Components of Lease Expense

The components of lease expense were as follows:

	Three months ended June 30,
	2023		2022
Operating lease expense (a)	$	5.9	$	5.3
Finance lease expense:
Depreciation of ROU assets		0.1		0.1
Interest on lease liabilities		-		-
Total lease expense	$	6.0	$	5.4

(a) For the three months ended June 30, 2023 and 2022, operating lease expense included short-term lease expense of $1.5 million and $1.3 million, respectively. Variable lease expense was not significant.