v3.26.1
Property, Plant and Equipment, Net
 12 Months Ended
Mar. 31, 2026
Property, Plant, and Equipment [Abstract]  
Property, Plant and Equipment, Net
6. Property, Plant and Equipment, Net
Property, plant and equipment, net consisted of the following:
March 31,
Useful Life20262025
Furniture and equipment
2 - 12 years
$67,888 $78,610 
Buildings and leasehold improvements
2 - 40 years
76,224 74,238 
Land and land improvementsIndefinite3,680 3,680 
Total property, plant and equipment147,792 156,528 
Less: accumulated depreciation(57,371)(61,331)
Total property, plant and equipment, net
$90,421 $95,197 
Depreciation expense was $25,052, $16,789 and $27,236 for the fiscal years ended March 31, 2026, 2025 and 2024, respectively.
On June 30, 2023, the Company completed a sale and leaseback transaction for its office building located in Dubuque, Iowa for a sale price of $20,500. The transaction qualified for sales recognition under the sale leaseback accounting requirements, and the Company leased back a small portion of the building. The Company recorded a gain of $2,043, which is included within Operating and administrative expenses in the consolidated statements of operations.
There were no impairments of property, plant and equipment in any of the periods presented.