LEASES:

12 Months Ended

Mar. 31, 2022

Leases [Abstract]

LEASES:

LEASES:

Right-of-use assets and lease liabilities balances consist of the following (dollars in thousands):

	March 31, 2022			March 31, 2021
Right-of-use assets included in other assets, net	$	59,459		$	11,731
Short-term lease liabilities included in other accrued expenses	$	8,984		$	9,608
Long-term lease liabilities included in other liabilities	$	52,241		$	4,158
Supplemental balance sheet information:
Weighted average remaining lease term	6.4 years			1.8 years
Weighted average discount rate	3.6		%	5.0		%

The Company leases its office facilities under non-cancellable operating leases that expire at various dates through fiscal 2030. 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 $11.6 million, $11.6 million and $10.1 million for the twelve months ended March 31, 2022, 2021 and 2020, respectively.

During fiscal 2022, the Company negotiated lease extensions at five of its leased office space locations and new leases for two other office locations. The lease period extensions ranged from 2 to 8 years and included the lease extension of the Company's primary corporate headquarters in San Francisco, California by 7 years. As a result, approximately $56.2 million of new right-of-use assets and lease liabilities were recognized in the consolidated balance sheets and as supplemental information to the consolidated statements of cash flows.

Future minimum payments under all operating leases (including operating leases with a duration of one year or less) as of March 31, 2022 are as follows (dollars in thousands):  

	Amount
Fiscal 2023	$	9,308
Fiscal 2024	11,079
Fiscal 2025	9,700
Fiscal 2026	10,260
Fiscal 2027	9,231
Thereafter	19,610
Total undiscounted lease commitments	69,188
Less: Interest and short-term leases	7,963
Total discounted operating lease liabilities	$	61,225

Future minimum payments as of March 31, 2022 related to restructuring plans as a result of the Company's exit from certain leased office facilities (see Note 4) are as follows (dollars in thousands): Fiscal 2023: $2,663; Fiscal 2024: $2,698; Fiscal 2025: $2,698; and Fiscal 2026: $1,799.