Leases (Tables)
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12 Months Ended |
Mar. 31, 2026 |
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| Leases [Abstract] |
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| Summary of Components of Lease Expenses |
The components of lease expenses are as follows:
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March 31, 2026 |
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March 31, 2025 |
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March 31, 2024 |
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Operating lease expense |
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$ |
8,185,000 |
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|
$ |
9,070,000 |
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|
$ |
9,989,000 |
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Finance lease expense |
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19,000 |
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|
80,000 |
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|
86,000 |
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Short-term lease expense |
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|
— |
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|
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114,000 |
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|
114,000 |
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Variable lease expense |
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|
628,000 |
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|
665,000 |
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|
|
559,000 |
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Total lease expenses |
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$ |
8,832,000 |
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|
$ |
9,929,000 |
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|
$ |
10,748,000 |
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| Summary of Lease Related Assets and Liabilities Recorded in Balance Sheet Related to Operating Leases |
The following table presents the lease related assets and liabilities recorded on the Company’s consolidated balance sheets related to its operating leases at March 31, 2026 and March 31, 2025:
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March 31, 2026 |
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March 31, 2025 |
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Right-of-use asset, net |
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$ |
21,164,000 |
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$ |
20,825,000 |
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Short-term lease liability |
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$ |
7,420,000 |
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$ |
8,126,000 |
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Long-term lease liability |
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|
20,687,000 |
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|
19,953,000 |
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Total lease liabilities |
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$ |
28,107,000 |
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|
$ |
28,079,000 |
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Weighted average remaining lease term |
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4.23 years |
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|
4.01 years |
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Weighted average finance lease term |
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|
— |
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|
0.25 years |
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Weighted average discount rate |
|
|
5.3 |
% |
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|
4.5 |
% |
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| Schedule of Supplemental Cash Flow Information Related to Operating Leases |
Supplemental cash flow information related to operating leases for fiscal years ended March 31, 2026 and 2025 were as follows:
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March 31, 2026 |
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March 31, 2025 |
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Cash paid for amounts included in the measurement
of operating lease liabilities |
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$ |
8,457,000 |
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$ |
9,151,000 |
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Operating lease liabilities arising from obtaining ROU assets |
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$ |
41,582,000 |
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$ |
46,954,000 |
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Finance lease liabilities arising from obtaining ROU assets |
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$ |
— |
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$ |
358,000 |
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Additions to ROU assets resulting from additions to
operating lease liabilities |
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$ |
3,300,000 |
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|
$ |
4,555,000 |
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| Summary of Maturities of Operating and Financing Lease Liabilities |
As of March 31, 2026, maturities of operating lease liabilities for each of the next five years and thereafter are as follows:
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2027 |
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$ |
8,700,000 |
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2028 |
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|
8,213,000 |
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2029 |
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|
5,949,000 |
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2030 |
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|
3,968,000 |
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2031 |
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|
2,455,000 |
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Thereafter |
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|
2,345,000 |
|
Total lease payments |
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|
31,630,000 |
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Less interest |
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|
(3,523,000 |
) |
Total lease liabilities |
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$ |
28,107,000 |
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