In February 2018, the Joint Venture entered into an agreement with Wipro, LLC and Wipro Limited (jointly, “Wipro”). The original term of the agreement is ten years, with three one-year renewal options. We initially committed to purchase services from Wipro throughout the ten-year term in an aggregate amount of $1,000,000. Subsequently, in March 2020, the commitment was reduced to $975,000. Under the agreement, Wipro will provide professional services for information technology (including infrastructure, application development and maintenance), business process outsourcing, call center services and similar services. The commitment amount may be reduced if certain events occur. If we have not fully satisfied the commitment by the end of the initial ten-year term, we are required to pay Wipro 25% of the shortfall. During the years ended March 31, 2022 and 2021, we purchased services in the amount of $75,869 and $80,071, respectively. Purchased services were immaterial for the year ended March 31, 2020.

In connection with the agreement, we have incurred and expect to continue to incur severance costs related to the transition of services currently performed by us to Wipro. We record severance liabilities when we can reliably estimate the timing and amount of such future severance costs. Accrued severance costs associated with Wipro were not material as of March 31, 2022 and 2021.

Future minimum commitments by fiscal year as of March 31, 2022 consist of the following:


	Payments by Period
	Total		2023		2024		2025		2026		2027		Thereafter
Operating lease obligations⁽¹⁾	$	87,231	$	26,035	$	18,925	$	13,837	$	9,586	$	7,204	$	11,644
Finance lease obligations		1,327		468		468		391		—		—		—
Purchase obligations ⁽²⁾		1,047,479		220,237		219,697		198,737		148,512		130,240		130,056
Total contractual obligations	$	1,136,037	$	246,740	$	239,090	$	212,965	$	158,098	$	137,444	$	141,700

⁽¹⁾We expect to receive $1,086 in the future under noncancelable subleases. See Note 7, Leases.