v3.22.4
Leases
 9 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Leases Leases
The Company leases office space under non-cancelable operating leases which expire at various dates from fiscal 2023 to 2033. As of December 31, 2022, the weighted average remaining lease term was 6.1 years and the weighted average discount rate was 4.7%. The Company does not have any finance leases as of December 31, 2022.
The Company has a sublease of a former office which expires in fiscal 2025. Sublease income from operating leases, which is recorded as a reduction of rental expense, was $0.6 million and $0.8 million for the three months ended December 31, 2022 and 2021, respectively, and $1.7 million and $1.9 million for the nine months ended December 31, 2022 and 2021.
The following table presents information about leases on the condensed consolidated statements of operations (in thousands):
Three Months Ended December 31,Nine Months Ended December 31,

2022202120222021
Operating lease expense (1)
$3,246 $2,838 $9,241 $7,919 
Short-term lease expense$450 $258 $1,299 $699 
Variable lease expense $281 $202 $659 $574 
_________________
(1) Presented gross of sublease income.
The following table presents supplemental cash flow information about the Company’s leases (in thousands):
Nine Months Ended December 31,
20222021
Cash paid for amounts included in the measurement of lease liabilities$11,590 $9,912 
Operating lease assets obtained in exchange for new operating lease liabilities (1)
$20,656 $25,151 
_________________
(1) Includes the impact of new leases as well as remeasurements and modifications of existing leases.
As of December 31, 2022, remaining maturities of lease liabilities were as follows (in thousands):
Fiscal Years Ending March 31,Amount
2023$4,409 
202418,034 
202515,185 
202611,954 
202710,756 
Thereafter23,672 
Total operating lease payments (1)
84,010 
Less: imputed interest(9,431)
Total operating lease liabilities$74,579 
_________________
(1) Presented gross of sublease income.
As of December 31, 2022, the Company had commitments of $23.4 million for operating leases that have not yet commenced and therefore are not included in the right-of-use assets or operating lease liabilities. These operating leases are expected to commence during the fiscal years ended March 31, 2023 through March 31, 2025 with lease terms ranging from 3 to 10 years.
Leases Leases
The Company leases office space under non-cancelable operating leases which expire at various dates from fiscal 2023 to 2033. As of December 31, 2022, the weighted average remaining lease term was 6.1 years and the weighted average discount rate was 4.7%. The Company does not have any finance leases as of December 31, 2022.
The Company has a sublease of a former office which expires in fiscal 2025. Sublease income from operating leases, which is recorded as a reduction of rental expense, was $0.6 million and $0.8 million for the three months ended December 31, 2022 and 2021, respectively, and $1.7 million and $1.9 million for the nine months ended December 31, 2022 and 2021.
The following table presents information about leases on the condensed consolidated statements of operations (in thousands):
Three Months Ended December 31,Nine Months Ended December 31,

2022202120222021
Operating lease expense (1)
$3,246 $2,838 $9,241 $7,919 
Short-term lease expense$450 $258 $1,299 $699 
Variable lease expense $281 $202 $659 $574 
_________________
(1) Presented gross of sublease income.
The following table presents supplemental cash flow information about the Company’s leases (in thousands):
Nine Months Ended December 31,
20222021
Cash paid for amounts included in the measurement of lease liabilities$11,590 $9,912 
Operating lease assets obtained in exchange for new operating lease liabilities (1)
$20,656 $25,151 
_________________
(1) Includes the impact of new leases as well as remeasurements and modifications of existing leases.
As of December 31, 2022, remaining maturities of lease liabilities were as follows (in thousands):
Fiscal Years Ending March 31,Amount
2023$4,409 
202418,034 
202515,185 
202611,954 
202710,756 
Thereafter23,672 
Total operating lease payments (1)
84,010 
Less: imputed interest(9,431)
Total operating lease liabilities$74,579 
_________________
(1) Presented gross of sublease income.
As of December 31, 2022, the Company had commitments of $23.4 million for operating leases that have not yet commenced and therefore are not included in the right-of-use assets or operating lease liabilities. These operating leases are expected to commence during the fiscal years ended March 31, 2023 through March 31, 2025 with lease terms ranging from 3 to 10 years.