Leases (Tables)

3 Months Ended

Jun. 30, 2021

Leases [Abstract]

Balance Sheet Information for Leases

Balance sheet information for leases is as follows:

Leases	Classification	June 30, 2021		March 31, 2021
Assets:
Operating	Operating lease assets	$	87,924,000	$	71,513,000
Finance	Plant and equipment		8,592,000		8,852,000
Total leased assets		$	96,516,000	$	80,365,000
Liabilities:
Current
Operating	Operating lease liabilities	$	5,434,000	$	6,439,000
Finance	Other current liabilities		2,584,000		2,640,000
Long-term
Operating	Long-term operating lease liabilities		85,889,000		70,551,000
Finance	Other liabilities		4,606,000		4,995,000
Total lease liabilities		$	98,513,000	$	84,625,000

Lease Cost Recognized in Consolidated Statements of Income

Lease cost recognized in the condensed consolidated statements of operations is as follows:

	Three Months Ended
	June 30,
	2021		2020
Lease cost
Operating lease cost	$	3,042,000	$	2,683,000
Short-term lease cost		376,000		317,000
Variable lease cost		281,000		143,000
Finance lease cost:
Amortization of finance lease assets		499,000		413,000
Interest on finance lease liabilities		97,000		83,000
Total lease cost	$	4,295,000	$	3,639,000

Maturity of Lease Commitments

Maturities of lease commitments at June 30, 2021 were as follows:

Maturity of lease liabilities	Operating Leases			Finance Leases			Total
2022 - remaining nine months	$	7,807,000		$	2,246,000		$	10,053,000
2023		11,351,000			2,404,000			13,755,000
2024		9,968,000			1,610,000			11,578,000
2025		10,041,000			1,118,000			11,159,000
2026		10,320,000			432,000			10,752,000
Thereafter		75,101,000			-			75,101,000
Total lease payments		124,588,000			7,810,000			132,398,000
Less amount representing interest		(33,265,000	)		(620,000	)		(33,885,000	)
Present value of lease liabilities	$	91,323,000		$	7,190,000		$	98,513,000

Other Information about Leases

Other information about leases is as follows:

	June 30, 2021			March 31, 2021
Lease term and discount rate
Weighted-average remaining lease term (years):
Finance leases		3.2			3.4
Operating leases		11.0			11.1
Weighted-average discount rate:
Finance leases		5.3	%		5.3	%
Operating leases		5.7	%		5.9	%