Leases

3 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

13. Leases

The Company’s material leases consist of store, warehouse, parking lots and its offices with expiration dates through 2027. In general, the leases have remaining terms of 1-20 years, most of which include options to extend the leases. The lease term is generally the minimum non-cancellable period of the lease. The Company does not include option periods unless the Company determines that it is reasonably certain of exercising the option at inception or when a triggering event occurs.

Balance sheet information related to the Company’s operating and finance leases (noting the financial statement caption each is included with) as of June 30, 2020 was as follows:

	As of June 30, 2020
Operating Lease Assets:
Operating Lease	$	58,408,630
Total operating lease assets		58,408,630
Operating lease obligations:
Current operating lease liabilities		5,441,020
Non-current operating lease liabilities		59,546,344
Total Lease liabilities	$	64,987,364
Weighted Average Remaining Lease Term Operating Lease		13.64 years
Weighted Average discount rate		4.3	%

	June 30,		March 31,
	2020		2020
Finance lease Assets
Vehicles under finance lease	$	874,698	$	874,698
Accumulated depreciation		234,614		219,679
Finance lease assets, net	$	640,084	$	655,019

	June 30,		March 31,
	2020		2020
Finance lease obligations:
Current	$	133,733	$	137,243
Long-term		245,314		277,350
Total obligations	$	379,047	$	414,593
Weighted Average Remaining Lease Term Finance Lease				2.67 years
Weighted Average discount rate				7.1	%

Supplemental cash flow information related to leases was as follows:

	As of June 30, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating Lease	$	1,969,181
Finance lease	$	35,546

The estimated future lease payments under the operating and finance leases are as follows:

	Capital			Operating,
Twelve months ending June 30,	Lease			lease
2021		162,551			7,903,304
2022		146,831			8,122,465
2023		118,289			8,563,378
2024		2,259			8,117,492
2025		-			7,364,547
Thereafter		-			46,140,193
Total minimum lease payments	$	429,930		$	86,211,379
Less: Amount representing interest		(50,883	)		(21,224,015	)
Total	$	379,047		$	64,987,364