XML 44 R37.htm IDEA: XBRL DOCUMENT v3.24.0.1
Leases (Table Text Block)
9 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Supplemental Balance Sheet Information Related to Leases

 

 

As of December 31, 2023

 

 

 

Finance

 

 

Operating

 

 

Total

 

 

 

(Unaudited)

 

 

 

(In thousands)

 

Buildings and improvements

 

$

 

 

$

145,958

 

 

$

145,958

 

Furniture and equipment

 

 

1,693

 

 

 

 

 

 

1,693

 

Rental trailers and other rental equipment

 

 

114,884

 

 

 

 

 

 

114,884

 

Rental trucks

 

 

692,955

 

 

 

 

 

 

692,955

 

Right-of-use assets, gross

 

 

809,532

 

 

 

145,958

 

 

 

955,490

 

Less: Accumulated depreciation

 

 

(483,288

)

 

 

(80,597

)

 

 

(563,885

)

Right-of-use assets, net

 

$

326,244

 

 

$

65,361

 

 

$

391,605

 

 

 

 

As of March 31, 2023

 

 

 

Finance

 

 

Operating

 

 

Total

 

 

 

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Buildings and improvements

 

$

 

 

$

128,221

 

 

$

128,221

 

Furniture and equipment

 

 

9,687

 

 

 

 

 

 

9,687

 

Rental trailers and other rental equipment

 

 

152,294

 

 

 

 

 

 

152,294

 

Rental trucks

 

 

949,838

 

 

 

 

 

 

949,838

 

Right-of-use assets, gross

 

 

1,111,819

 

 

 

128,221

 

 

 

1,240,040

 

Less: Accumulated depreciation

 

 

(637,054

)

 

 

(69,304

)

 

 

(706,358

)

Right-of-use assets, net

 

$

474,765

 

 

$

58,917

 

 

$

533,682

 

Summary of Weighted-average remaining lease terms and Discount rates

 

 

Finance leases

 

 

 

 

December 31,

 

 

March 31,

 

 

 

 

2023

 

 

2023

 

 

 

 

(Unaudited)

 

 

 

 

 

Weighted average remaining lease term (years)

 

1

 

 

2

 

 

Weighted average discount rate

 

 

4.1

 

%

 

3.8

 

%

 

 

 

Operating leases

 

 

 

 

December 31,

 

 

March 31,

 

 

 

 

2023

 

 

2023

 

 

 

 

(Unaudited)

 

 

 

 

 

Weighted average remaining lease term (years)

 

19.1

 

 

19.2

 

 

Weighted average discount rate

 

 

4.6

 

%

 

4.7

 

%

Components of Lease Expense

 

 

Nine months ended

 

 

 

December 31, 2023

 

 

December 31, 2022

 

 

 

(Unaudited)

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

Operating lease costs

 

$

25,181

 

 

$

24,483

 

 

 

 

 

 

 

 

Finance lease cost:

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

44,220

 

 

$

62,782

 

Interest on lease liabilities

 

 

5,600

 

 

 

8,799

 

Total finance lease cost

 

$

49,820

 

 

$

71,581

 

Maturities of Lease Liabilities

 

 

Finance leases

 

 

Operating leases

 

 

 

(Unaudited)

 

Year ending March 31,

 

(In thousands)

 

 

 

 

 

 

 

 

2024 (3 months)

 

$

20,502

 

 

$

6,880

 

2025

 

 

76,714

 

 

 

16,232

 

2026

 

 

46,107

 

 

 

9,527

 

2027

 

 

 

 

 

7,455

 

2028

 

 

 

 

 

6,501

 

Thereafter

 

 

 

 

 

66,126

 

Total lease payments

 

 

143,323

 

 

 

112,721

 

Less: imputed interest

 

 

(6,284

)

 

 

(48,179

)

Present value of lease liabilities

 

$

137,039

 

 

$

64,542