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Leases (Tables)
12 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Schedule of lease expenses and other information

The components of lease expenses, which are included in operating expenses in our Consolidated Statements of Operations, were as follows:

 

 

 

Year ended March 31,

 

(in thousands)

 

2021

 

 

2020

 

Operating leases expense

 

$

4,440

 

 

$

4,193

 

Finance lease expense:

 

 

 

 

 

 

 

 

Amortization of ROU assets

 

 

26

 

 

 

23

 

Interest on lease liabilities

 

 

5

 

 

 

6

 

Total finance lease expense

 

 

31

 

 

 

29

 

Variable lease costs

 

 

443

 

 

 

271

 

Short term lease expense

 

 

120

 

 

 

88

 

Sublease income

 

 

(129

)

 

 

 

Total lease expense

 

$

4,905

 

 

$

4,581

 

 

Other information related to leases for fiscal 2021 and 2020 was as follows:

 

 

 

Year ended March 31,

 

Supplemental cash flow information

 

2021

 

 

2020

 

Cash paid for amounts included in the measurement of lease liabilities

   (in thousands):

 

 

 

 

 

 

 

 

Operating cash flows for operating leases

 

$

5,987

 

 

$

4,873

 

Operating cash flows for finance leases

 

 

30

 

 

 

8

 

Financing cash flows for finance leases

 

 

24

 

 

 

24

 

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

 

 

 

 

 

 

 

 

Operating leases

 

$

1,573

 

 

$

2,734

 

Finance leases

 

 

 

 

 

17

 

Weighted average remaining lease terms

 

 

 

 

 

 

 

 

Operating leases

 

 

4.39

 

 

 

5.04

 

Finance leases

 

 

1.44

 

 

 

2.16

 

Weighted average discount rates

 

 

 

 

 

 

 

 

Operating leases

 

 

10.51

%

 

 

10.37

%

Finance leases

 

 

4.46

%

 

 

4.38

%

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 Consolidated Balance Sheet as of March 31, 2021:

 

Year ending (in thousands)

 

Operating leases (1)

 

 

Finance leases

 

2022

 

$

5,211

 

 

$

21

 

2023

 

 

3,494

 

 

 

5

 

2024

 

 

2,859

 

 

 

2

 

2025

 

 

2,144

 

 

 

 

2026

 

 

1,584

 

 

 

 

Thereafter

 

 

2,431

 

 

 

 

Total undiscounted future minimum lease payments

 

 

17,724

 

 

 

28

 

Less: difference between undiscounted lease payments and discounted lease

   liabilities

 

 

(4,119

)

 

 

(3

)

Total lease liabilities

 

$

13,606

 

 

$

25

 

 

 

(1)

Non-cancellable sublease proceeds for the fiscal years ending March 31, 2022, 2023, and 2024 of $0.7 million, $0.8 million, and $0.7 million, respectively, are not included in the table above.

 

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 Consolidated Balance Sheet as of March 31, 2021:

 

Year ending (in thousands)

 

Operating leases (1)

 

 

Finance leases

 

2022

 

$

5,211

 

 

$

21

 

2023

 

 

3,494

 

 

 

5

 

2024

 

 

2,859

 

 

 

2

 

2025

 

 

2,144

 

 

 

 

2026

 

 

1,584

 

 

 

 

Thereafter

 

 

2,431

 

 

 

 

Total undiscounted future minimum lease payments

 

 

17,724

 

 

 

28

 

Less: difference between undiscounted lease payments and discounted lease

   liabilities

 

 

(4,119

)

 

 

(3

)

Total lease liabilities

 

$

13,606

 

 

$

25

 

 

 

(1)

Non-cancellable sublease proceeds for the fiscal years ending March 31, 2022, 2023, and 2024 of $0.7 million, $0.8 million, and $0.7 million, respectively, are not included in the table above.