| LEASES |
Leases Lessee Arrangements Operating Leases We primarily lease real estate which is utilized for our office locations. As of March 31, 2026, the remaining term of our operating leases ranged from 1 to 13 years with various automatic extensions. The following table outlines the maturity of our existing operating lease liabilities on a fiscal year-end basis as of March 31, 2026. Maturity of Operating Leases | | | | | | | | | | | Operating Leases | | 2027 | | $ | 63,752 | | | 2028 | | 65,620 | | | 2029 | | 64,602 | | | 2030 | | 63,133 | | | 2031 | | 61,110 | | | Thereafter | | 326,571 | | | Total | | 644,788 | | | Less: present value discount | | (152,680) | | | Operating lease liabilities | | $ | 492,108 | |
Lease costs | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | March 31, 2025 | | Operating lease expense | | | | $ | 63,427 | | | $ | 61,106 | | Variable lease expense (1) | | | | 20,053 | | | 19,419 | | | Short-term lease expense | | | | 268 | | | 231 | | | Less: Sublease income | | | | (3,938) | | | (2,874) | | | Total lease costs | | | | $ | 79,810 | | | $ | 77,882 | |
(1)Primarily consists of payments for property taxes, common area maintenance and usage-based operating costs.
Weighted-average details | | | | | | | | | | | | | | | | | March 31, 2026 | | March 31, 2025 | | Weighted-average remaining lease term (years) | | 10 | | 11 | | Weighted-average discount rate | | 5.5 | % | | 5.4 | % |
Supplemental cash flow information related to leases: | | | | | | | | | | | | | | | | | March 31, 2026 | | March 31, 2025 | | Operating cash flows: | | | | | | Cash paid for amounts included in the measurement of Operating lease liabilities | | $ | 56,931 | | | $ | 56,312 | | | | | | | | Non-cash activity: | | | | | | Operating lease right-of-use assets obtained in exchange of Operating lease liabilities | | $ | 90,891 | | | $ | 55,433 | | | Change in Operating lease right-of-use assets due to remeasurement | | (12,912) | | | (9,215) | |
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