Leases (Tables)
|
9 Months Ended |
Dec. 31, 2023 |
|---|
| Leases |
|
| Schedule of Company's minimum rental revenue to be received under operating leases |
At December 31, 2023, the Company’s minimum rental revenue to be received under operating leases were as follows (in thousands):
|
|
|
|
|
|
Operating |
Year Ending March 31, |
|
Leases |
2024 (remainder of fiscal year) |
|
$ |
928 |
2025 |
|
|
3,702 |
2026 |
|
|
2,422 |
2027 |
|
|
1,492 |
2028 |
|
|
1,380 |
Thereafter |
|
|
1,081 |
Total minimum rental revenue |
|
$ |
11,005 |
|
| Schedule of components of lease expense |
The components of lease expense were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended December 31, |
|
Nine Months Ended December 31, |
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
Finance lease costs |
|
$ |
207 |
|
$ |
293 |
|
$ |
608 |
|
$ |
702 |
Operating lease costs |
|
|
1,362 |
|
|
84 |
|
|
3,585 |
|
|
635 |
Total lease costs |
|
$ |
1,569 |
|
$ |
377 |
|
$ |
4,193 |
|
$ |
1,337 |
(1)Interest expense is included in finance lease costs
|
| Schedule of supplemental information related to the leases |
Supplemental balance sheet information related to the leases was as follows (dollars in thousands):
|
|
|
|
|
|
|
|
|
December 31, |
|
March 31, |
|
|
2023 |
|
2023 |
Finance lease right-of-use assets |
|
$ |
4,542 |
|
$ |
4,529 |
Operating lease right-of-use assets |
|
|
13,227 |
|
|
8,808 |
Total right-of-use assets |
|
$ |
17,769 |
|
$ |
13,337 |
|
|
|
|
|
|
|
Finance lease liability, current |
|
$ |
964 |
|
$ |
773 |
Operating lease liability, current |
|
|
3,936 |
|
|
2,492 |
Finance lease liability, non-current |
|
|
2,541 |
|
|
2,903 |
Operating lease liability, non-current |
|
|
9,581 |
|
|
6,588 |
Total lease liabilities |
|
$ |
17,022 |
|
$ |
12,756 |
Finance leases: |
|
|
|
|
|
|
Weighted average remaining lease life |
|
|
1.65 years |
|
|
2.27 years |
Weighted average discount rate |
|
|
13.00% |
|
|
13.00% |
Operating leases: |
|
|
|
|
|
|
Weighted average remaining lease life |
|
|
4.58 years |
|
|
4.86 years |
Weighted average discount rate |
|
|
12.00% |
|
|
12.00% |
Supplemental cash flow information related to the leases was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended December 31, |
|
|
2023 |
|
2022 |
Cash paid for amounts included in the measurement of lease liabilities |
|
|
|
|
Finance cash flows from finance leases |
|
$ |
764 |
|
$ |
671 |
Operating cash flows from finance leases |
|
$ |
33 |
|
$ |
— |
Operating cash flows from operating leases |
|
$ |
3,568 |
|
$ |
701 |
Right-of-use assets obtained in exchange for lease obligations |
|
|
|
|
|
|
Finance leases |
|
$ |
447 |
|
$ |
6,174 |
Operating leases |
|
$ |
6,901 |
|
$ |
3,590 |
|
| Schedule of maturities of operating lease liabilities |
At December 31, 2023, the Company’s minimum commitments under non-cancelable operating and finance leases were as follows (in thousands):
|
|
|
|
|
|
|
|
|
Finance |
|
Operating |
|
|
Leases |
|
Leases |
2024 (remainder of fiscal year) |
|
$ |
284 |
|
$ |
1,363 |
2025 |
|
|
1,113 |
|
|
5,380 |
2026 |
|
|
2,059 |
|
|
4,368 |
2027 |
|
|
252 |
|
|
1,747 |
2028 |
|
|
— |
|
|
1,636 |
Thereafter |
|
|
— |
|
|
3,219 |
Total lease payments |
|
$ |
3,708 |
|
$ |
17,713 |
Less: imputed interest |
|
|
(203) |
|
|
(4,196) |
Present value of lease liabilities |
|
$ |
3,505 |
|
$ |
13,517 |
|
| Schedule of maturities of finance lease liabilities |
At December 31, 2023, the Company’s minimum commitments under non-cancelable operating and finance leases were as follows (in thousands):
|
|
|
|
|
|
|
|
|
Finance |
|
Operating |
|
|
Leases |
|
Leases |
2024 (remainder of fiscal year) |
|
$ |
284 |
|
$ |
1,363 |
2025 |
|
|
1,113 |
|
|
5,380 |
2026 |
|
|
2,059 |
|
|
4,368 |
2027 |
|
|
252 |
|
|
1,747 |
2028 |
|
|
— |
|
|
1,636 |
Thereafter |
|
|
— |
|
|
3,219 |
Total lease payments |
|
$ |
3,708 |
|
$ |
17,713 |
Less: imputed interest |
|
|
(203) |
|
|
(4,196) |
Present value of lease liabilities |
|
$ |
3,505 |
|
$ |
13,517 |
|