Leases

12 Months Ended

Mar. 31, 2024

Leases [Abstract]

Leases

Leases

Operating lease arrangements are comprised primarily of real estate and equipment agreements for which the ROU assets are included in other assets and the corresponding lease liabilities, depending on their maturity, are included in accrued liabilities or other long-term liabilities in the consolidated balance sheets. There are certain immaterial finance leases recorded in the consolidated balance sheets. The Company has elected to account for the lease and non-lease components as a single lease component.

The Company's leases are included as a component of the following balance sheet lines (in millions):

	March 31,
	2024		2023
Other assets:
ROU assets	$	156.3	$	154.0
Total lease assets	$	156.3	$	154.0
Accrued liabilities:
Current portion of lease liabilities	$	32.6	$	31.5
Other long-term liabilities:
Non-current portion of lease liabilities	128.7		128.6
Total lease liabilities	$	161.3	$	160.1

The following table presents the maturities of lease liabilities as of March 31, 2024 (in millions):

Fiscal year ending March 31,	Operating Leases
2025	$	41.4
2026	37.6
2027	33.1
2028	23.5
2029	14.9
Thereafter	35.2
Total lease payments	185.7
Less: Imputed lease interests	24.4
Total lease liabilities	$	161.3

The Company's weighted-average remaining lease-term and weighted-average discount rate at March 31, 2024 are as follows:

Weighted average remaining lease-term (years)	5.61
Weighted average discount rate	4.52	%

The Company's total lease expense is as follows (in millions):

	Fiscal Year Ended March 31,
	2024		2023		2022
Operating lease expense	$	60.4	$	56.6	$	58.4

Leases

Leases

Operating lease arrangements are comprised primarily of real estate and equipment agreements for which the ROU assets are included in other assets and the corresponding lease liabilities, depending on their maturity, are included in accrued liabilities or other long-term liabilities in the consolidated balance sheets. There are certain immaterial finance leases recorded in the consolidated balance sheets. The Company has elected to account for the lease and non-lease components as a single lease component.

The Company's leases are included as a component of the following balance sheet lines (in millions):

	March 31,
	2024		2023
Other assets:
ROU assets	$	156.3	$	154.0
Total lease assets	$	156.3	$	154.0
Accrued liabilities:
Current portion of lease liabilities	$	32.6	$	31.5
Other long-term liabilities:
Non-current portion of lease liabilities	128.7		128.6
Total lease liabilities	$	161.3	$	160.1

The following table presents the maturities of lease liabilities as of March 31, 2024 (in millions):

Fiscal year ending March 31,	Operating Leases
2025	$	41.4
2026	37.6
2027	33.1
2028	23.5
2029	14.9
Thereafter	35.2
Total lease payments	185.7
Less: Imputed lease interests	24.4
Total lease liabilities	$	161.3

The Company's weighted-average remaining lease-term and weighted-average discount rate at March 31, 2024 are as follows:

Weighted average remaining lease-term (years)	5.61
Weighted average discount rate	4.52	%

The Company's total lease expense is as follows (in millions):

	Fiscal Year Ended March 31,
	2024		2023		2022
Operating lease expense	$	60.4	$	56.6	$	58.4