Leases (Tables)

3 Months Ended

Jun. 30, 2020

Leases [Abstract]

Components of Lease Expense

The components of lease expense for the three months ended June 30, 2020 and 2019 were as follows:

	Three Months Ended June 30,
(In thousands)	2020		2019
Finance lease cost:
Amortization of right-of-use assets	$	325	$	—
Interest on lease liabilities	50		—
Operating lease cost	1,697		1,216
Short term lease cost	23		23
Variable lease cost	11,707		16,599
Sublease income	(54)		(914)
Total net lease cost	$	13,748	$	16,924

The weighted average remaining lease term and weighted average discount rate were as follows:

		June 30, 2020
Weighted average remaining lease term (years)
	Operating leases	5.28
	Financing leases	4.25
Weighted average discount rate
	Operating leases	5.27	%
	Financing leases	3.55 %

Maturities of Operating Leases

As of June 30, 2020, the maturities of lease liabilities were as follows:

(In thousands)
Year Ending March 31,	Operating Leases		Financing Lease		Total
2021 (Remaining nine months ending March 31, 2021)	$	5,250	$	1,052	$	6,302
2022	6,585		1,404		7,989
2023	6,317		1,404		7,721
2024	6,304		1,404		7,708
2025	4,132		700		4,832
Thereafter	4,974		—		4,974
Total undiscounted lease payments	33,562		5,964		39,526
Less amount of lease payments representing interest	(4,350)		(420)		(4,770)
Total present value of lease payments	$	29,212	$	5,544	$	34,756

Maturities of Finance Leases

As of June 30, 2020, the maturities of lease liabilities were as follows:

(In thousands)
Year Ending March 31,	Operating Leases		Financing Lease		Total
2021 (Remaining nine months ending March 31, 2021)	$	5,250	$	1,052	$	6,302
2022	6,585		1,404		7,989
2023	6,317		1,404		7,721
2024	6,304		1,404		7,708
2025	4,132		700		4,832
Thereafter	4,974		—		4,974
Total undiscounted lease payments	33,562		5,964		39,526
Less amount of lease payments representing interest	(4,350)		(420)		(4,770)
Total present value of lease payments	$	29,212	$	5,544	$	34,756