Leases (Tables)
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12 Months Ended |
Mar. 31, 2026 |
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| Leases [Abstract] |
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| Balance Sheet Information for Leases |
Balance sheet information for leases is comprised of the following:
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March 31, 2026
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March 31, 2025
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Leases
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Classification
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Assets:
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Operating
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Operating lease assets |
| $ | 63,103,000 | |
| $ | 66,603,000 | |
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Finance
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Plant and equipment |
| | 4,784,000 | |
| | 4,296,000 | |
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Total leased assets
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| $ | 67,887,000 | |
| $ | 70,899,000 | |
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Liabilities:
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Current
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Operating
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Operating lease liabilities |
| $ | 8,957,000 | |
| $ | 9,982,000 | |
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Finance
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Other current liabilities |
| | 1,289,000 | |
| | 1,222,000 | |
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Long-term
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Operating
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Long-term operating lease liabilities |
| | 56,969,000 | |
| | 65,308,000 | |
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Finance
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Other liabilities |
| | 3,202,000 | |
| | 1,954,000 | |
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Total lease liabilities
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| $ | 70,417,000 | |
| $ | 78,466,000 | |
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| Lease Cost Recognized in Consolidated Statement of Operations |
Lease cost recognized in the consolidated statements of operations is comprised of the following:
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Years Ended March 31,
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2026
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2025
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2024
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Lease cost
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Operating lease cost
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| $ | 14,357,000 | |
| $ | 14,057,000 | |
| $ | 15,047,000 | |
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Short-term lease cost
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| | 999,000 | |
| | 1,221,000 | |
| | 1,263,000 | |
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Variable lease cost
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| | 592,000 | |
| | 511,000 | |
| | 667,000 | |
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Finance lease cost:
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Amortization of finance lease assets
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| | 1,294,000 | |
| | 1,234,000 | |
| | 1,508,000 | |
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Interest on finance lease liabilities
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| | 297,000 | |
| | 191,000 | |
| | 219,000 | |
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Total lease cost
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| $ | 17,539,000 | |
| $ | 17,214,000 | |
| $ | 18,704,000 | |
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| Maturity of Lease Commitments |
Maturities of lease commitments were as follows:
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Maturity of lease liabilities by year ended March 31,
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Operating Leases
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Finance Leases
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Total
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2027
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| $ | 12,454,000 | |
| $ | 1,547,000 | |
| $ | 14,001,000 | |
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2028
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| | 11,806,000 | |
| | 1,292,000 | |
| | 13,098,000 | |
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2029
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| | 11,285,000 | |
| | 1,027,000 | |
| | 12,312,000 | |
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2030
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| | 11,387,000 | |
| | 950,000 | |
| | 12,337,000 | |
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2031
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| | 11,623,000 | |
| | 269,000 | |
| | 11,892,000 | |
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Thereafter
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| | 20,529,000 | |
| | - | |
| | 20,529,000 | |
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Total lease payments
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| | 79,084,000 | |
| | 5,085,000 | |
| | 84,169,000 | |
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Less: amount representing interest
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| | (13,158,000 | ) |
| | (594,000 | ) |
| | (13,752,000 | ) |
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Present value of lease liabilities
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| $ | 65,926,000 | |
| $ | 4,491,000 | |
| $ | 70,417,000 | |
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| Other Information about Leases |
Other information about leases is as follows:
| | | | | | | | | | | | | | March 31, 2026 | | | | March 31, 2025 | | | Lease term and discount rate | | | | | | | | | | Weighted-average remaining lease term (years): | | | | | | | | | | Finance leases | | | 3.8 | | | | 3.2 | | | Operating leases | | | 6.5 | | | | 7.3 | | | Weighted-average discount rate: | | | | | | | | | | Finance leases | | | 6.8 | % | | | 7 | % | | Operating leases | | | 5.7 | % | | | 5.8 | % |
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