v3.26.1
Leases
 12 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Leases Leases
The components of lease expense for the years ended March 31, 2026 and 2025 are as follows:
March 31,
(In thousands)20262025
Finance lease cost:
     Amortization of right-of-use assets$3,279 $2,230 
     Interest on lease liabilities1,375 375 
Operating lease cost7,923 7,332 
Short-term lease cost140 139 
Variable lease cost19,387 55,399 
Total net lease cost$32,104 $65,475 

As of March 31, 2026, the maturities of lease liabilities are as follows:
(In thousands)
Year Ending March 31,Operating LeasesFinancing LeasesTotal
2027$8,340 $3,875 $12,215 
20287,957 3,875 11,832 
20296,687 3,869 10,556 
20306,025 3,366 9,391 
20311,123 2,664 3,787 
Thereafter1,619 7,993 9,612 
Total undiscounted lease payments31,751 25,642 57,393 
Less amount of lease payments representing interest(3,886)(5,018)(8,904)
Total present value of lease payments$27,865 $20,624 $48,489 
The weighted average remaining lease term and weighted average discount rate are as follows:
March 31, 2026
Weighted average remaining lease term (years)
Operating leases4.28
Financing leases7.18
Weighted average discount rate
Operating leases6.42 %
Financing leases6.31 %

On October 1, 2024, we entered into Amendments 3 and 4 extending the Master Logistics Services Agreement with GEODIS Logistics LLC ("GEODIS") as our third-party logistics provider. Under this agreement, we have extended our May 2019 agreement that authorized GEODIS to lease a facility and equipment for an additional 65 month term. The lease and non-lease components were recorded in our fiscal 2025 financial statements. The ROU asset and operating lease liability at lease commencement was $23.0 million. The GEODIS amendments also included a new finance lease and the renewal of previous finance leases for assets purchased by GEODIS for our use under the Master Logistics Agreement. The ROU asset and finance lease liability at lease commencement was $4.7 million.
Leases Leases
The components of lease expense for the years ended March 31, 2026 and 2025 are as follows:
March 31,
(In thousands)20262025
Finance lease cost:
     Amortization of right-of-use assets$3,279 $2,230 
     Interest on lease liabilities1,375 375 
Operating lease cost7,923 7,332 
Short-term lease cost140 139 
Variable lease cost19,387 55,399 
Total net lease cost$32,104 $65,475 

As of March 31, 2026, the maturities of lease liabilities are as follows:
(In thousands)
Year Ending March 31,Operating LeasesFinancing LeasesTotal
2027$8,340 $3,875 $12,215 
20287,957 3,875 11,832 
20296,687 3,869 10,556 
20306,025 3,366 9,391 
20311,123 2,664 3,787 
Thereafter1,619 7,993 9,612 
Total undiscounted lease payments31,751 25,642 57,393 
Less amount of lease payments representing interest(3,886)(5,018)(8,904)
Total present value of lease payments$27,865 $20,624 $48,489 
The weighted average remaining lease term and weighted average discount rate are as follows:
March 31, 2026
Weighted average remaining lease term (years)
Operating leases4.28
Financing leases7.18
Weighted average discount rate
Operating leases6.42 %
Financing leases6.31 %

On October 1, 2024, we entered into Amendments 3 and 4 extending the Master Logistics Services Agreement with GEODIS Logistics LLC ("GEODIS") as our third-party logistics provider. Under this agreement, we have extended our May 2019 agreement that authorized GEODIS to lease a facility and equipment for an additional 65 month term. The lease and non-lease components were recorded in our fiscal 2025 financial statements. The ROU asset and operating lease liability at lease commencement was $23.0 million. The GEODIS amendments also included a new finance lease and the renewal of previous finance leases for assets purchased by GEODIS for our use under the Master Logistics Agreement. The ROU asset and finance lease liability at lease commencement was $4.7 million.