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Leases (Tables)
6 Months Ended
Sep. 30, 2019
Leases [Abstract]  
Schedule of lease expenses and other information

The components of lease expenses for the three and six months ended September 30, 2019 were as follows:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

(in thousands)

 

September 30, 2019

 

Operating leases expense

 

$

1,003

 

 

$

2,016

 

Finance lease expense:

 

 

 

 

 

 

 

 

Amortization of ROU assets

 

 

5

 

 

 

11

 

Interest on lease liabilities

 

 

1

 

 

 

3

 

Total finance lease expense

 

 

6

 

 

 

14

 

Variable lease costs

 

 

69

 

 

 

137

 

Short term lease expense

 

 

36

 

 

 

50

 

Total lease expense

 

$

1,114

 

 

$

2,217

 

 

Other information related to leases for the six months ended September 30, 2019 was as follows:

 

 

 

Six Months Ended

 

Supplemental cash flow information

 

September 30, 2019

 

Cash paid for amounts included in the measurement of lease

   liabilities (in thousands):

 

 

 

 

Operating cash flows for operating leases

 

$

2,210

 

Operating cash flows for finance leases

 

 

6

 

Financing cash flows for finance leases

 

 

12

 

ROU assets obtained in exchange for lease obligations (in thousands):

 

 

 

 

Operating leases

 

$

185

 

Finance leases

 

 

6

 

Weighted average remaining lease terms

 

 

 

 

Operating leases

 

 

5.40

 

Finance leases

 

 

2.22

 

Weighted average discount rates

 

 

 

 

Operating leases

 

 

9.93

%

Finance leases

 

 

4.30

%

 

Schedule of future minimum lease payments, finance leases

The table below reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under non-cancelable leases with terms of more than one year to the total lease liabilities recognized on the condensed consolidated balance sheet as of September 30, 2019:

 

(in thousands)

 

Operating leases

 

 

Finance leases

 

2020 (excluding the six months ended September 30, 2019)

 

$

2,163

 

 

$

14

 

2021

 

 

4,391

 

 

 

25

 

2022

 

 

3,630

 

 

 

17

 

2023

 

 

2,252

 

 

 

1

 

2024

 

 

2,057

 

 

 

 

Thereafter

 

 

5,763

 

 

 

 

Total undiscounted future minimum lease payments

 

 

20,256

 

 

 

57

 

Less: difference between undiscounted lease payments and discounted lease liabilities

 

 

(5,446

)

 

 

(6

)

Total lease liabilities

 

$

14,810

 

 

$

51

 

 

Schedule of future minimum lease payments, operating leases

The table below reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under non-cancelable leases with terms of more than one year to the total lease liabilities recognized on the condensed consolidated balance sheet as of September 30, 2019:

 

(in thousands)

 

Operating leases

 

 

Finance leases

 

2020 (excluding the six months ended September 30, 2019)

 

$

2,163

 

 

$

14

 

2021

 

 

4,391

 

 

 

25

 

2022

 

 

3,630

 

 

 

17

 

2023

 

 

2,252

 

 

 

1

 

2024

 

 

2,057

 

 

 

 

Thereafter

 

 

5,763

 

 

 

 

Total undiscounted future minimum lease payments

 

 

20,256

 

 

 

57

 

Less: difference between undiscounted lease payments and discounted lease liabilities

 

 

(5,446

)

 

 

(6

)

Total lease liabilities

 

$

14,810

 

 

$

51

 

 

Schedule of future minimum lease payments, finance leases, under previous lease accounting standard

As previously disclosed on our March 31, 2019 Form 10-K and under the previous lease accounting standard, future minimum lease payments under non-cancelable leases as of March 31, 2019 were as follows:

 

Year ending (in thousands)

 

Operating leases

 

 

Finance leases

 

2020

 

$

4,143

 

 

$

27

 

2021

 

 

3,945

 

 

 

23

 

2022

 

 

3,166

 

 

 

15

 

2023

 

 

1,916

 

 

 

 

2024

 

 

1,770

 

 

 

 

Thereafter

 

 

4,497

 

 

 

 

Total lease payments

 

 

19,437

 

 

 

65

 

Less: Amounts representing interest

 

 

 

 

 

(8

)

Present value of lease liabilities

 

$

19,437

 

 

$

57

 

 

Schedule of future minimum lease payments, operating leases, under previous lease accounting standard

As previously disclosed on our March 31, 2019 Form 10-K and under the previous lease accounting standard, future minimum lease payments under non-cancelable leases as of March 31, 2019 were as follows:

 

Year ending (in thousands)

 

Operating leases

 

 

Finance leases

 

2020

 

$

4,143

 

 

$

27

 

2021

 

 

3,945

 

 

 

23

 

2022

 

 

3,166

 

 

 

15

 

2023

 

 

1,916

 

 

 

 

2024

 

 

1,770

 

 

 

 

Thereafter

 

 

4,497

 

 

 

 

Total lease payments

 

 

19,437

 

 

 

65

 

Less: Amounts representing interest

 

 

 

 

 

(8

)

Present value of lease liabilities

 

$

19,437

 

 

$

57