PROPERTY AND EQUIPMENT

6 Months Ended

Sep. 30, 2020

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT:

PROPERTY AND EQUIPMENT:

Property and equipment is summarized as follows (dollars in thousands):

	September 30, 2020		March 31, 2020
Leasehold improvements	$	25,987	$	25,614
Data processing equipment	8,511		9,499
Office furniture and other equipment	9,106		9,673
	43,604		44,786
Less accumulated depreciation and amortization	28,382		25,465
	$	15,222	$	19,321

Depreciation expense on property and equipment was $4.8 million and $10.4 million for the six months ended September 30, 2020 and 2019, respectively. Depreciation expense for the six months ended September 30, 2019 included $3.6 million of accelerated depreciation expense associated with the reduced useful life of certain IT equipment in connection with the Company's migration to a cloud-based data center solution.