Intangible Assets

3 Months Ended

Jun. 30, 2026

Intangible Asset, Excluding Goodwill, after Accumulated Amortization [Abstract]

Our intangible assets consist of the following at the dates indicated:


		June 30, 2026						March 31, 2026
Description	Weighted Average Remaining Useful Life	Gross Carrying Amount		Accumulated Amortization		Net		Gross Carrying Amount		Accumulated Amortization		Net
	(in years)	(in thousands)

Customer relationships	17.0	$	857,903	$	(314,928)	$	542,975	$	857,903	$	(304,877)	$	553,026
Customer commitments	18.0	192,000		(53,760)		138,240		192,000		(51,840)		140,160
Rights-of-way and easements	25.7	117,281		(31,152)		86,129		111,980		(28,367)		83,613
Executory contracts and other agreements	22.9	18,763		(4,332)		14,431		19,324		(4,654)		14,670
Debt issuance costs (1)	2.6	13,858		(1,450)		12,408		13,895		(254)		13,641
Total		$	1,199,805	$	(405,622)	$	794,183	$	1,195,102	$	(389,992)	$	805,110

(1) Includes debt issuance costs related to the ABL Facility (as defined herein). Debt issuance costs related to the fixed-rate notes and 2026 Term Loan B (as defined herein) are reported as a reduction of the carrying amount of long-term debt.

Amortization expense is as follows for the periods indicated:


	Three Months Ended June 30,
Recorded In	2026		2025
	(in thousands)
Depreciation and amortization	$	13,398	$	13,168
Cost of sales - service	1,602		—
Interest expense	1,197		1,135
Operating expenses	62		62
Total	$	16,259	$	14,365

The following table summarizes expected amortization of our intangible assets at June 30, 2026 (in thousands):


Year Ending March 31,
2027 (nine months)	$	47,867
2028	55,662
2029	52,337
2030	44,898
2031	44,093
2032	42,534
Thereafter	506,792
Total	$	794,183