Supplemental Disclosures of Cash Flow Information

9 Months Ended

Dec. 31, 2023

Supplemental Cash Flow Elements [Abstract]

Supplemental Disclosures of Cash Flow Information

5. Supplemental Disclosures of Cash Flow Information

Additional information related to the condensed consolidated statements of cash flows is as follows:

	Nine months ended December 31,
(In thousands)		2023		2022
Cash receipts for interest, net	$	3,191	$	1,046
Cash payments for income tax, net		1,246		912
Cash payments for operating leases		3,684		4,207
Cash payments for finance leases		4		4
Accrued capital expenditures		114		332

During October 2023, we terminated certain agreements of leased office space before the expiration of their lease terms resulting in the removal of $3.8 million in lease liabilities and $3.2 million in associated right-of-use assets with a gain of $0.6 million. We also sold certain related property and equipment for a gain of $0.5 million resulting in a total gain on asset disposals of $1.1 million reported as operating activities in the condensed consolidated statement of cash flows for the nine months ended December 31, 2023.

During November 2023, in a noncash financing transaction, we converted $35 million of Series A convertible preferred stock, no par value, to common stock as further described in Note 10, Preferred Stock.