LEASES:

12 Months Ended

Mar. 31, 2020

Leases [Abstract]

Leases

LEASES

Right-of-use asset and lease liability balances consist of the following at March 31, 2020 (dollars in millions):

	March 31, 2020
Right-of-use assets included in other assets, net	$	17.8
Short-term lease liabilities included in other accrued expenses	$	9.6
Long-term lease liabilities included in other liabilities	$	11.4

The Company leases its office facilities under non-cancellable operating leases that expire at various dates through fiscal 2025. Certain leases contain provisions for property-related costs that are variable in nature for which the Company is responsible, including common area maintenance and other property operating services. These costs are calculated based on a variety of factors including property values, tax and utility rates, property service fees, and other factors. Operating lease costs were $10.1 million for the twelve months ended March 31, 2020. Rent expense recorded prior to the adoption of Topic 842 lease guidance was $12.8 million and $9.5 million for the fiscal years ended March 31, 2019 and 2018, respectively.

Supplemental information related to operating leases is as follows (dollars in thousands):

	Year ended
	March 31, 2020
Operating cash flows used for operating leases	$	9,906
Right-of-use assets obtained in exchange for new lease liabilities	$	2,707
Weighted average remaining lease term	2.4 years
Weighted average discount rate	5.0		%

Future minimum payments under all operating leases (including operating leases with a duration of one year or less) as of March 31, 2020 are as follows (dollars in thousands):  

	Amount
Fiscal 2021	$	10,703
Fiscal 2022	9,076
Fiscal 2023	2,678
Fiscal 2024	767
Fiscal 2025	65
Thereafter	—
Total undiscounted lease commitments	23,289
Less: Interest and short-term leases	2,199
Total discounted operating lease liabilities	$	21,090

Future minimum payments as of March 31, 2020 related to restructuring plans as a result of the Company's exit from certain leased office facilities (see Note 4) are: Fiscal 2021: $2,560; Fiscal 2022: $2,611; Fiscal 2023: $2,663; Fiscal 2024: $2,698; Fiscal 2025: $2,698; and Thereafter: $1,799.

Supplemental information for comparative periods (dollars in thousands):

As previously disclosed in our Fiscal 2019 Annual Report on Form 10-K and under the previous lease accounting standard, the future minimum payments under all operating leases as of March 31, 2019 was as follow:  

	For the years ending March 31,
	2020		2021		2022		2023		2024		Thereafter		Total
Operating leases	$	12,057	$	11,253	$	10,865	$	5,160	$	3,270	$	4,497	$	47,102