Leases (Tables)
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3 Months Ended |
Jun. 30, 2026 |
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| Leases [Abstract] |
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| Balance Sheet Information for Leases |
Balance sheet information for leases is as follows:
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Leases
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Classification
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June 30, 2026
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March 31, 2026
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Assets:
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Operating
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Operating lease assets |
| $ | 63,833,000 | |
| $ | 63,103,000 | |
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Finance
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Plant and equipment |
| | 4,493,000 | |
| | 4,784,000 | |
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Total leased assets
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|
| $ | 68,326,000 | |
| $ | 67,887,000 | |
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Liabilities:
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Current
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|
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Operating
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Operating lease liabilities |
| $ | 9,398,000 | |
| $ | 8,957,000 | |
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Finance
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Other current liabilities |
| | 1,272,000 | |
| | 1,289,000 | |
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Long-term
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|
| | | |
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Operating
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Long-term operating lease liabilities |
| | 55,665,000 | |
| | 56,969,000 | |
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Finance
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Other liabilities |
| | 2,887,000 | |
| | 3,202,000 | |
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Total lease liabilities
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|
| $ | 69,222,000 | |
| $ | 70,417,000 | |
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| Lease Cost Recognized in Consolidated Statement of Operations |
Lease cost recognized in the condensed consolidated statements of operations is as follows:
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| Three Months Ended
June 30, | |
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2026
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|
2025
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Lease cost
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| | | |
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Operating lease cost
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| $ | 3,589,000 | |
| $ | 3,490,000 | |
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Short-term lease cost
|
| | 394,000 | |
| | 216,000 | |
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Variable lease cost
|
| | 147,000 | |
| | 133,000 | |
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Finance lease cost:
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| | | |
| | | |
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Amortization of finance lease assets
|
| | 297,000 | |
| | 355,000 | |
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Interest on finance lease liabilities
|
| | 73,000 | |
| | 74,000 | |
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Total lease cost
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| $ | 4,500,000 | |
| $ | 4,268,000 | |
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| Maturity of Lease Commitments |
Maturities of lease commitments at June 30, 2026, by fiscal year, were as follows:
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Maturity of lease liabilities by fiscal year
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Operating Leases
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Finance Leases
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Total
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2027 - remaining nine months
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| $ | 9,659,000 | |
| $ | 1,146,000 | |
| $ | 10,805,000 | |
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2028
|
| | 12,710,000 | |
| | 1,291,000 | |
| | 14,001,000 | |
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2029
|
| | 11,513,000 | |
| | 1,026,000 | |
| | 12,539,000 | |
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2030
|
| | 11,388,000 | |
| | 949,000 | |
| | 12,337,000 | |
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2031
|
| | 11,622,000 | |
| | 269,000 | |
| | 11,891,000 | |
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Thereafter
|
| | 20,525,000 | |
| | - | |
| | 20,525,000 | |
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Total lease payments
|
| | 77,417,000 | |
| | 4,681,000 | |
| | 82,098,000 | |
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Less amount representing interest
|
| | (12,354,000 | ) |
| | (522,000 | ) |
| | (12,876,000 | ) |
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Present value of lease liabilities
|
| $ | 65,063,000 | |
| $ | 4,159,000 | |
| $ | 69,222,000 | |
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| Other Information about Leases |
Other information about leases is as follows:
| | | | | | | | | | | | | June 30, 2026 | | | March 31, 2026 | | | Lease term and discount rate | | | | | | | | | | Weighted-average remaining lease term (years): | | | | | | | | | | Finance leases | | | 3.6 | | | | 3.8 | | | Operating leases | | | 6.2 | | | | 6.5 | | | Weighted-average discount rate: | | | | | | | | | | Finance leases | | | 6.8 | % | | | 6.8 | % | | Operating leases | | | 5.7 | % | | | 5.7 | % |
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