19. Commitments

Lease Commitments

The Company leases its offices and other facilities under operating lease agreements that expire at various dates through 2029. The Company recognizes lease expense on a straight-line basis, including predetermined fixed escalations, over the initial lease term including reasonably assured renewal periods from the time that the Company controls the leased property. Total rent expense for all operating leases was $3,048, $0 and $0 for the years ended March 31, 2020, 2019, and 2018, respectively.

Other Commitments

In February 2018, the Joint Venture, through one its wholly-owned subsidiaries, entered into a Master Services Agreement (the “Agreement”) with Wipro, LLC and Wipro Limited (jointly, “Wipro”). The term of the Agreement is ten years, with the Company having three one-year renewal options. The Company initially committed to purchase services from Wipro through the initial ten-year term of the Agreement (the “Minimum Commitment”) in an aggregate amount of $1 billion; the Minimum Commitment was subsequently adjusted in March 2020 to $975 million. Under the Agreement, Wipro will globally provide the Company with professional services for information technology (including infrastructure, application development and maintenance), business process outsourcing, call center services and similar services. As the Company orders specific services under the Agreement, the parties will execute Statements of Work describing the specific scope of the services to be performed by Wipro. The amount of the Minimum Commitment may be reduced on the occurrence of certain events, some of which also provide the Company the right to terminate the Agreement. If the Company has not fully satisfied the Minimum Commitment (as reduced) by the end of the initial ten-year term, it is required to pay Wipro 25% of the shortfall.

In connection with the Agreement, the Company expects to incur significant severance costs related to the transition of services currently performed by the Company to Wipro. However, pending execution of future Statements of Work, the Company cannot reliably estimate the timing or amount of such future severance costs. Accordingly, the consolidated balance sheet reflects no accrual for such costs associated with the Agreement.

Minimum Commitments

Future minimum commitments by fiscal year as of March 31, 2020 consisted of the following:


	Payments by Period
		Total	2021		2022		2023		2024		2025		Thereafter
Operating lease obligations	$	141,010	$	40,476	$	34,750	$	23,761	$	15,393	$	10,780	$	15,850
Contingent consideration obligation		3,000		3,000		—		—		—		—		—
Purchase obligations and other		1,162,529		126,900		174,516		174,516		173,805		173,805		338,987
Total contractual obligations	$	1,306,539	$	170,376	$	209,266	$	198,277	$	189,198	$	184,585	$	354,837

(1) The Company expects to receive $1,562 of minimum rentals in the future under noncancelable subleases.