We have operating leases for manufacturing facilities, offices, warehouses, vehicles and certain equipment. Our leases have remaining lease terms of 1 year to 24 years, some of which include escalation clauses and/or options to extend or terminate the leases. We do not currently have any financing lease arrangements.


(in thousands)	March 31, 2024		March 31, 2023
Components of Operating Lease Expenses
Operating lease expense	$	10,375	$	10,793
Short-term lease expense	694		815
Total operating lease expense (a)	$	11,069	$	11,608
(a) Included in cost of revenues and selling, general and administrative expense

(in thousands)	March 31, 2024		March 31, 2023
Operating Lease Assets and Liabilities
Right-of-use lease assets (a)	$	44,491	$	59,815

Short-term lease liabilities	$	9,443	$	9,784
Long-term lease liabilities	39,922		55,590
Total operating lease liabilities (b)	$	49,365	$	65,374
(a) Included in other assets
(b) Included in accrued and other current liabilities and other long-term liabilities, as applicable


(in thousands)	March 31, 2024			March 31, 2023
Supplemental Cash Flow
Cash paid for amounts included in the measurement of operating lease liabilities (a)	$	11,523		$	11,058
Right-of-use assets obtained in exchange for new operating lease obligations	4,789			2,526
Decrease in right-of-use assets and operating lease liabilities due to lease remeasurement	15,371			—
(a) Included in our condensed consolidated statement of cash flows, operating activities in accounts payable and other current liabilities

Other Information for Operating Leases
Weighted average remaining lease term (in years)	6.8			7.0
Weighted average discount rate (percent)	3.4		%	2.3		%


Maturities of operating lease liabilities were as follows (in thousands):
Year Ending March 31,
2025	$	10,779
2026	9,021
2027	8,615
2028	7,170
2029	5,888
Thereafter	13,780
Total lease liabilities	$	55,253
Less: Imputed interest	(5,888)
Present value of lease liabilities	$	49,365