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Leases (Tables)
6 Months Ended
Sep. 30, 2019
Leases [Abstract]  
Summary of Lease Cost

The components of the Company's lease costs, weighted average lease terms and discount rates are presented in the tables below:

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

September 30, 2019

 

 

September 30, 2019

 

 

 

(In thousands)

 

Lease cost:

 

 

 

 

 

 

 

 

Operating lease cost

 

$

15,037

 

 

$

30,380

 

Finance lease cost:

 

 

 

 

 

 

 

 

Depreciation of assets obtained under finance leases

 

 

1,553

 

 

 

4,017

 

Interest on lease liabilities

 

 

330

 

 

 

330

 

Short-term lease cost

 

 

1,406

 

 

 

2,017

 

Variable lease cost

 

 

2,043

 

 

 

3,722

 

Net lease cost

 

$

20,369

 

 

$

40,466

 

Summary of Operating and Finance Lease Costs Weighted Average Lease Terms and Discount Rates

 

 

As of

 

 

 

September 30, 2019

 

Lease term and discount rate:

 

 

 

 

Weighted average remaining lease term (in years):

 

 

 

 

Operating leases

 

 

7.39

 

Finance leases

 

 

6.78

 

 

 

 

 

 

Weighted average discount rate:

 

 

 

 

Operating leases

 

 

5.45

%

Finance leases

 

 

5.35

%

 

Summary of Components of Condensed Consolidated Statements of Cash Flow for Operating and Finance Leases

The following table details components of the condensed consolidated statements of cash flows for operating and finance leases:

 

 

 

Six Months Ended

 

 

 

September 30, 2019

 

Cash paid for amounts included in the measurement

   of lease liabilities:

 

 

 

 

Operating cash flows from operating leases

 

$

29,629

 

Operating cash flows from finance leases

 

$

 

Financing cash flows from finance leases

 

$

3,000

 

 

 

 

 

 

Right-of-use assets obtained in exchange for lease liabilities:

 

 

 

 

Operating leases

 

$

14,429

 

Finance leases

 

$

72,711

 

Summary of Maturities of Lease Liabilities

The following table presents maturities of the Company’s lease liabilities as of September 30, 2019:

 

 

 

Operating Leases

 

 

Finance Leases

 

 

 

(In thousands)

 

Expected for the remainder of fiscal year 2020

 

$

28,081

 

 

$

6,900

 

Expected for fiscal year 2021

 

 

59,805

 

 

 

13,350

 

Expected for fiscal year 2022

 

 

57,382

 

 

 

12,000

 

Expected for fiscal year 2023

 

 

51,822

 

 

 

12,000

 

Expected for fiscal year 2024

 

 

51,724

 

 

 

12,000

 

Thereafter

 

 

164,668

 

 

 

27,000

 

Total future lease payments required

 

 

413,482

 

 

 

83,250

 

Less: interest

 

 

74,842

 

 

 

13,209

 

Total

 

$

338,640

 

 

$

70,041

 

Summary of Future Minimum Lease Payments Under ASC 840 The following table presents the Company's future minimum lease payments for operating leases under ASC 840 at March 31, 2019:

 

 

 

Operating Leases

 

 

 

March 31, 2019

 

 

 

(In thousands)

 

Expected for fiscal year 2020

 

$

59,164

 

Expected for fiscal year 2021

 

 

59,452

 

Expected for fiscal year 2022

 

 

57,500

 

Expected for fiscal year 2023

 

 

50,933

 

Expected for fiscal year 2024

 

 

51,000

 

Thereafter

 

 

183,077

 

Total minimum payments required

 

$

461,126