Leases (Tables)

12 Months Ended

Mar. 31, 2026

The following table summarizes the components of our lease cost for the periods indicated:


	Year Ended March 31,
	2026		2025		2024
	(in thousands)
Operating lease cost (1)	$	41,274	$	41,014	$	44,683
Variable lease cost (1)	42,673		37,123		31,118
Short-term lease cost (1)	538		1,029		931
Finance lease cost
Amortization of right-of-use asset (2)	858		5		5
Interest on lease obligation (3)	503		9		12
Total lease cost	$	85,846	$	79,180	$	76,749

(1) Included in operating expenses in our consolidated statements of operations.

(2) Included in depreciation and amortization expense in our consolidated statements of operations.

(3) Included in interest expense in our consolidated statement of operations.

Amounts in the table above do not include lease costs related to our refined products and biodiesel businesses, as these amounts have been classified within discontinued operations within our consolidated statements of operations (see Note 18).

Schedule of weighted average lease term and weighted average discount rate

The following table summarizes the weighted average lease term and weighted average discount rate for the periods indicated:


	Year Ended March 31,
	2026		2025
Operating leases
Weighted average lease term (years)	5.14		5.54
Weighted average discount rate	8.30	%	8.62	%
Finance leases
Weighted average lease term (years)	2.41		2.33
Weighted average discount rate	8.87	%	14.29	%

Schedule of maturities of lease obligations

The following table summarizes maturities of our lease obligations at March 31, 2026 (in thousands):


	Operating		Finance
Year Ending March 31,	Leases		Leases (1)
2027	$	40,851	$	3,209
2028	37,292		3,209
2029	25,095		1,556
2030	14,149		22
2031	4,940		—
Thereafter	20,295		—
Total lease payments	142,622		7,996
Less imputed interest	(27,003)		(788)
Total lease obligations	$	115,619	$	7,208

(1) At March 31, 2026, the short-term finance lease obligation of $2.7 million is included in accrued expenses and other payables and the long-term finance lease obligation of $4.5 million is included in other noncurrent liabilities in our consolidated balance sheet.

Schedule of supplemental cash flow information and non-cash information for operating and finance leases

The following table summarizes supplemental cash flow information related to our leases for the periods indicated:


	Year Ended March 31,
	2026		2025		2024
	(in thousands)
Supplemental Cash Flow Information
Cash paid for amounts included in the measurement of lease obligations
Operating cash outflows from operating leases	$	42,226	$	41,541	$	44,781
Operating cash outflows from finance leases	$	456	$	9	$	12
Financing cash outflows from finance leases	$	1,593	$	19	$	16

Right-of-use assets obtained in exchange for lease obligations
Operating leases	$	36,299	$	51,060	$	53,338
Finance leases	$	8,753	$	—	$	—

Amounts in the table above do not include operating cash outflows from operating leases related to our refined products and biodiesel businesses, as these amounts have been classified within discontinued operations within our consolidated statements of operations (see Note 18).

Schedule of future minimum lease payments to be received under contractual commitments

The following table summarizes future minimum lease payments to be received under various noncancelable operating lease agreements at March 31, 2026 (in thousands):


Year Ending March 31,
2027	$	10,147
2028	6,915
2029	2,402
2030	609
2031	617
Thereafter	514
Total	$	21,204