Leases (Tables)
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12 Months Ended |
Mar. 31, 2026 |
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| Leases [Abstract] |
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| Summary of Lease Cost |
The components of the Company's lease costs, weighted average lease terms and discount rates are presented in the tables below:
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Fiscal Years Ended |
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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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(In thousands) |
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Lease cost: |
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Operating lease cost |
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$ |
94,340 |
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$ |
99,067 |
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$ |
105,365 |
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Finance lease cost: |
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Depreciation of assets obtained under finance leases |
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20,716 |
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14,948 |
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11,824 |
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Interest on lease liabilities |
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15,764 |
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6,514 |
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2,018 |
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Short-term lease cost |
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17,096 |
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21,559 |
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13,990 |
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Variable lease cost |
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28,544 |
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27,067 |
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13,214 |
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Net lease cost |
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$ |
176,460 |
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$ |
169,155 |
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$ |
146,411 |
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| Summary of Operating and Finance Lease Costs Weighted Average Lease Terms and Discount Rates |
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As of |
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As of |
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As of |
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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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Lease term and discount rate: |
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Weighted average remaining lease term (in years): |
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Operating leases |
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8.2 |
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8.5 |
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7.3 |
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Finance leases |
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13.4 |
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13.5 |
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2.4 |
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Weighted average discount rate: |
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Operating leases |
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6.1 |
% |
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6.2 |
% |
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6.2 |
% |
Finance leases |
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10.8 |
% |
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10.5 |
% |
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6.3 |
% |
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| Summary of Components of the Consolidated Statements of Cash Flow for Operating and Finance Leases |
The following table details components of the consolidated statements of cash flows for operating and finance leases:
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Fiscal Years Ended |
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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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(In thousands) |
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Cash paid for amounts included in the measurement of lease liabilities: |
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Operating cash flows from operating leases |
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$ |
89,248 |
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$ |
92,600 |
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$ |
93,350 |
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Operating cash flows from finance leases |
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15,836 |
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5,259 |
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2,074 |
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Financing cash flows from finance leases |
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20,692 |
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15,176 |
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11,941 |
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Right-of-use assets obtained in exchange for lease liabilities: |
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Operating leases |
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$ |
71,548 |
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$ |
94,350 |
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$ |
29,035 |
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Finance leases |
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1,150 |
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145,625 |
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1,946 |
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| Summary of Maturities of Lease Liabilities |
The following table presents maturities of the Company’s lease liabilities as of March 31, 2026:
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Operating Leases |
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Finance Leases |
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(In thousands) |
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Expected for fiscal year 2027 |
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$ |
88,383 |
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$ |
22,633 |
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Expected for fiscal year 2028 |
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82,856 |
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19,633 |
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Expected for fiscal year 2029 |
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83,539 |
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19,615 |
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Expected for fiscal year 2030 |
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79,729 |
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19,630 |
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Expected for fiscal year 2031 |
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72,192 |
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19,650 |
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Thereafter |
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225,868 |
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157,785 |
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Total future lease payments required |
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632,567 |
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258,946 |
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Less: interest |
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141,606 |
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119,994 |
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Total |
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$ |
490,961 |
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$ |
138,952 |
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