Leases (Tables)
|
12 Months Ended |
Mar. 31, 2024 |
|---|
| Leases |
|
| Schedule of Company's minimum rental revenue to be received under operating leases |
At March 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 |
|
$ |
2,827 |
|
$ |
8,620 |
|
2026 |
|
|
1,345 |
|
|
3,998 |
|
2027 |
|
|
— |
|
|
653 |
|
2028 |
|
|
— |
|
|
533 |
|
2029 |
|
|
— |
|
|
279 |
|
Thereafter |
|
|
— |
|
|
792 |
|
Total minimum rental revenue |
|
$ |
4,172 |
|
$ |
14,875 |
|
|
| Schedule of Company's minimum rental revenue to be received under finance leases |
At March 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 |
|
$ |
2,827 |
|
$ |
8,620 |
|
2026 |
|
|
1,345 |
|
|
3,998 |
|
2027 |
|
|
— |
|
|
653 |
|
2028 |
|
|
— |
|
|
533 |
|
2029 |
|
|
— |
|
|
279 |
|
Thereafter |
|
|
— |
|
|
792 |
|
Total minimum rental revenue |
|
$ |
4,172 |
|
$ |
14,875 |
|
|
| Schedule of operating leases |
The components of lease expense were as follows (in thousands):
|
|
|
|
|
|
|
|
|
Year Ended March 31, |
|
|
2024 |
|
2023 |
Finance lease costs (1) |
|
$ |
804 |
|
$ |
697 |
Operating lease costs |
|
|
4,948 |
|
|
2,291 |
Total lease costs |
|
$ |
5,752 |
|
$ |
2,988 |
| (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 (in thousands):
|
|
|
|
|
|
|
March 31, 2024 |
|
March 31, 2023 |
Finance lease right-of-use assets |
$ |
4,391 |
|
$ |
4,529 |
Operating lease right-of-use assets |
|
12,279 |
|
|
8,808 |
Total right-of-use assets |
$ |
16,670 |
|
$ |
13,337 |
|
|
|
|
|
|
Finance lease liability, current |
$ |
964 |
|
$ |
773 |
Operating lease liability, current |
|
4,041 |
|
|
2,492 |
Finance lease liability, non-current |
|
2,300 |
|
|
2,903 |
Operating lease liability, non-current |
|
8,527 |
|
|
6,588 |
Total lease liabilities |
$ |
15,832 |
|
$ |
12,756 |
|
|
|
|
|
|
Finance leases: |
|
|
|
|
|
Weighted average remaining lease life |
|
1.41 years |
|
|
2.27 years |
Weighted average discount rate |
|
13.00% |
|
|
13.00% |
Operating leases: |
|
|
|
|
|
Weighted average remaining lease life |
|
4.48 years |
|
|
4.86 years |
Weighted average discount rate |
|
13.00% |
|
|
12.00% |
Supplemental cash flow information related to the leases was as follows (in thousands):
|
|
|
|
|
|
|
Year Ended March 31, |
|
2024 |
|
2023 |
Cash paid for amounts included in the measurement of lease liabilities |
|
|
|
Finance cash flows from finance leases |
$ |
173 |
|
$ |
803 |
Operating cash flows from finance leases |
$ |
42 |
|
$ |
45 |
Operating cash flows from operating leases |
$ |
4,930 |
|
$ |
2,258 |
Right-of-use assets obtained in exchange for lease obligations |
|
|
|
|
|
Finance leases |
$ |
447 |
|
$ |
3,991 |
Operating leases |
$ |
6,901 |
|
$ |
4,179 |
|
| Schedule of maturities of operating lease liabilities |
At March 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 |
|
$ |
1,108 |
|
$ |
5,380 |
2026 |
|
|
2,059 |
|
|
4,368 |
2027 |
|
|
252 |
|
|
1,747 |
2028 |
|
|
— |
|
|
1,636 |
2029 |
|
|
— |
|
|
1,337 |
Thereafter |
|
|
— |
|
|
1,882 |
Total lease payments |
|
$ |
3,419 |
|
$ |
16,350 |
Less: imputed interest |
|
|
(155) |
|
|
(3,782) |
Present value of lease liabilities |
|
$ |
3,264 |
|
$ |
12,568 |
|
| Schedule of maturities of finance lease liabilities |
At March 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 |
|
$ |
1,108 |
|
$ |
5,380 |
2026 |
|
|
2,059 |
|
|
4,368 |
2027 |
|
|
252 |
|
|
1,747 |
2028 |
|
|
— |
|
|
1,636 |
2029 |
|
|
— |
|
|
1,337 |
Thereafter |
|
|
— |
|
|
1,882 |
Total lease payments |
|
$ |
3,419 |
|
$ |
16,350 |
Less: imputed interest |
|
|
(155) |
|
|
(3,782) |
Present value of lease liabilities |
|
$ |
3,264 |
|
$ |
12,568 |
|