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Leases (Table Text Block)
6 Months Ended 12 Months Ended
Sep. 30, 2024
Mar. 31, 2024
Leases [Abstract]    
Supplemental Balance Sheet Information Related to Leases

 

 

As of September 30, 2024

 

 

 

Finance

 

 

Operating

 

 

Total

 

 

 

(Unaudited)

 

 

 

(In thousands)

 

Buildings and improvements

 

$

 

 

$

82,385

 

 

$

82,385

 

Furniture and equipment

 

 

61

 

 

 

 

 

 

61

 

Rental trailers and other rental equipment

 

 

96,006

 

 

 

 

 

 

96,006

 

Rental trucks

 

 

436,576

 

 

 

 

 

 

436,576

 

Right-of-use assets, gross

 

 

532,643

 

 

 

82,385

 

 

 

615,028

 

Less: Accumulated depreciation

 

 

(323,839

)

 

 

(31,077

)

 

 

(354,916

)

Right-of-use assets, net

 

$

208,804

 

 

$

51,308

 

 

$

260,112

 

 

 

As of March 31, 2024

 

 

 

Finance

 

 

Operating

 

 

Total

 

 

 

(Unaudited)

 

 

 

(In thousands)

 

Buildings and improvements

 

$

 

 

$

79,317

 

 

$

79,317

 

Furniture and equipment

 

 

61

 

 

 

 

 

 

61

 

Rental trailers and other rental equipment

 

 

114,607

 

 

 

 

 

 

114,607

 

Rental trucks

 

 

607,521

 

 

 

 

 

 

607,521

 

Right-of-use assets, gross

 

 

722,189

 

 

 

79,317

 

 

 

801,506

 

Less: Accumulated depreciation

 

 

(432,884

)

 

 

(25,605

)

 

 

(458,489

)

Right-of-use assets, net

 

$

289,305

 

 

$

53,712

 

 

$

343,017

 

Summary of Weighted-average remaining lease terms and Discount rates

 

 

Finance leases

 

 

 

 

September 30,

 

 

March 31,

 

 

 

 

2024

 

 

2024

 

 

 

 

(Unaudited)

 

 

Weighted average remaining lease term (years)

 

0.9

 

 

1

 

 

Weighted average discount rate

 

 

4.2

 

%

 

4.1

 

%

 

 

Finance leases

 

 

 

 

September 30,

 

 

March 31,

 

 

 

 

2024

 

 

2024

 

 

 

 

(Unaudited)

 

 

Weighted average remaining lease term (years)

 

0.9

 

 

1

 

 

Weighted average discount rate

 

 

4.2

 

%

 

4.1

 

%

Components of Lease Expense

 

 

Six months ended

 

 

 

September 30, 2024

 

 

September 30, 2023

 

 

 

(Unaudited)

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

Operating lease costs

 

$

10,334

 

 

$

16,033

 

 

 

 

 

 

 

 

Finance lease cost:

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

17,630

 

 

$

31,465

 

Interest on lease liabilities

 

 

2,219

 

 

 

4,002

 

Total finance lease cost

 

$

19,849

 

 

$

35,467

 

 
Maturities of Lease Liabilities

 

 

Finance leases

 

 

Operating leases

 

 

 

(Unaudited)

 

Year ending March 31,

 

(In thousands)

 

 

 

 

 

 

 

 

2025 (6 months)

 

$

60,653

 

 

$

6,675

 

2026

 

 

20,379

 

 

 

10,449

 

2027

 

 

 

 

 

8,097

 

2028

 

 

 

 

 

6,792

 

2029

 

 

 

 

 

5,203

 

Thereafter

 

 

 

 

 

61,752

 

Total lease payments

 

 

81,032

 

 

 

98,968

 

Less: imputed interest

 

 

(2,650

)

 

 

(46,497

)

Present value of lease liabilities

 

$

78,382

 

 

$

52,471