Leases (Tables)
|
9 Months Ended |
Dec. 31, 2024 |
|---|
| Leases |
|
| Schedule of Company's minimum rental revenue to be received under operating leases |
At December 31, 2024, the Company’s minimum rental revenue to be received was as follows (in thousands):
|
|
|
|
|
|
|
|
|
Leased |
|
Owned and |
Year Ending March 31, |
|
Assets |
|
Financed Assets |
2025 (remainder of fiscal year) |
|
$ |
860 |
|
$ |
2,781 |
2026 |
|
|
1,369 |
|
|
4,900 |
2027 |
|
|
— |
|
|
672 |
2028 |
|
|
— |
|
|
550 |
2029 |
|
|
— |
|
|
286 |
Thereafter |
|
|
— |
|
|
792 |
Total minimum rental revenue |
|
$ |
2,229 |
|
$ |
9,981 |
|
| 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, |
|
|
2024 |
|
2023 |
|
2024 |
|
2023 |
Finance lease costs (1) |
|
$ |
177 |
|
$ |
207 |
|
$ |
552 |
|
$ |
608 |
Operating lease costs |
|
|
1,324 |
|
|
1,362 |
|
|
4,011 |
|
|
3,585 |
Total lease costs |
|
$ |
1,501 |
|
$ |
1,569 |
|
$ |
4,563 |
|
$ |
4,193 |
(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, |
|
|
2024 |
|
2024 |
Finance lease right-of-use assets |
|
$ |
3,938 |
|
$ |
4,391 |
Operating lease right-of-use assets |
|
|
9,321 |
|
|
12,279 |
Total right-of-use assets |
|
$ |
13,259 |
|
$ |
16,670 |
|
|
|
|
|
|
|
Finance lease liability, current |
|
$ |
595 |
|
$ |
964 |
Operating lease liability, current |
|
|
3,775 |
|
|
4,041 |
Finance lease liability, non-current |
|
|
1,933 |
|
|
2,300 |
Operating lease liability, non-current |
|
|
5,806 |
|
|
8,527 |
Total lease liabilities |
|
$ |
12,109 |
|
$ |
15,832 |
Finance leases: |
|
|
|
|
|
|
Weighted average remaining lease life |
|
|
0.66 years |
|
|
1.41 years |
Weighted average discount rate |
|
|
12.77% |
|
|
13.00% |
Operating leases: |
|
|
|
|
|
|
Weighted average remaining lease life |
|
|
4.34 years |
|
|
4.48 years |
Weighted average discount rate |
|
|
12.40% |
|
|
13.00% |
Supplemental cash flow information related to the leases was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended December 31, |
|
|
2024 |
|
2023 |
Cash paid for amounts included in the measurement of lease liabilities |
|
|
|
|
Finance cash flows from finance leases |
|
$ |
736 |
|
$ |
764 |
Operating cash flows from finance leases |
|
$ |
98 |
|
$ |
33 |
Operating cash flows from operating leases |
|
$ |
4,041 |
|
$ |
3,568 |
Right-of-use assets obtained in exchange for lease obligations |
|
|
|
|
|
|
Finance leases |
|
$ |
— |
|
$ |
447 |
Operating leases |
|
$ |
— |
|
$ |
6,901 |
|
| Schedule of maturities of operating lease liabilities |
At December 31, 2024, the Company’s minimum commitments under non-cancelable operating and finance leases were as follows (in thousands):
|
|
|
|
|
|
|
|
|
Finance |
|
Operating |
Year Ending March 31, |
|
Leases |
|
Leases |
2025 (remainder of fiscal year) |
|
$ |
278 |
|
$ |
1,339 |
2026 |
|
|
2,052 |
|
|
4,368 |
2027 |
|
|
252 |
|
|
1,747 |
2028 |
|
|
— |
|
|
1,636 |
2029 |
|
|
— |
|
|
1,337 |
Thereafter |
|
|
— |
|
|
1,882 |
Total lease payments |
|
$ |
2,582 |
|
$ |
12,309 |
Less: imputed interest |
|
|
(54) |
|
|
(2,728) |
Present value of lease liabilities |
|
$ |
2,528 |
|
$ |
9,581 |
|
| Schedule of maturities of finance lease liabilities |
At December 31, 2024, the Company’s minimum commitments under non-cancelable operating and finance leases were as follows (in thousands):
|
|
|
|
|
|
|
|
|
Finance |
|
Operating |
Year Ending March 31, |
|
Leases |
|
Leases |
2025 (remainder of fiscal year) |
|
$ |
278 |
|
$ |
1,339 |
2026 |
|
|
2,052 |
|
|
4,368 |
2027 |
|
|
252 |
|
|
1,747 |
2028 |
|
|
— |
|
|
1,636 |
2029 |
|
|
— |
|
|
1,337 |
Thereafter |
|
|
— |
|
|
1,882 |
Total lease payments |
|
$ |
2,582 |
|
$ |
12,309 |
Less: imputed interest |
|
|
(54) |
|
|
(2,728) |
Present value of lease liabilities |
|
$ |
2,528 |
|
$ |
9,581 |
|