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Leases (Table Text Block)
9 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Leases [Abstract]    
Supplemental Balance Sheet Information Related to Leases

The following tables show the components of our right-of-use (“ROU") assets, net:

 

 

 

As of December 31, 2025

 

 

 

Finance

 

 

Operating

 

 

Total

 

 

 

(Unaudited)

 

 

 

(In thousands)

 

Buildings and improvements

 

$

 

 

$

72,557

 

 

$

72,557

 

Furniture and equipment

 

 

61

 

 

 

 

 

 

61

 

Rental trailers and other rental equipment

 

 

9,192

 

 

 

 

 

 

9,192

 

Rental trucks

 

 

80,722

 

 

 

 

 

 

80,722

 

Right-of-use assets, gross

 

 

89,975

 

 

 

72,557

 

 

 

162,532

 

Less: Accumulated depreciation

 

 

(59,414

)

 

 

(31,868

)

 

 

(91,282

)

Right-of-use assets, net

 

$

30,561

 

 

$

40,689

 

 

$

71,250

 

 

 

 

As of March 31, 2025

 

 

 

Finance

 

 

Operating

 

 

Total

 

 

 

(Unaudited)

 

 

 

(In thousands)

 

Buildings and improvements

 

$

 

 

$

71,330

 

 

$

71,330

 

Furniture and equipment

 

 

61

 

 

 

 

 

 

61

 

Rental trailers and other rental equipment

 

 

58,071

 

 

 

 

 

 

58,071

 

Rental trucks

 

 

309,475

 

 

 

 

 

 

309,475

 

Right-of-use assets, gross

 

 

367,607

 

 

 

71,330

 

 

 

438,937

 

Less: Accumulated depreciation

 

 

(228,909

)

 

 

(25,305

)

 

 

(254,214

)

Right-of-use assets, net

 

$

138,698

 

 

$

46,025

 

 

$

184,723

 

 
Finance lease, Liability, to be Paid, Maturity

 

 

Finance leases

 

 

 

 

December 31,

 

 

March 31,

 

 

 

 

2025

 

 

2025

 

 

 

 

(Unaudited)

 

 

Weighted average remaining lease term (years)

 

0.2

 

 

0.6

 

 

Weighted average discount rate

 

 

4.3

 

%

 

4.4

 

%

 
Lessee, Operating Lease, Liability, to be Paid, Maturity

 

 

Operating leases

 

 

 

 

December 31,

 

 

March 31,

 

 

 

 

2025

 

 

2025

 

 

 

 

(Unaudited)

 

 

Weighted average remaining lease term (years)

 

 

26.0

 

 

24.1

 

 

Weighted average discount rate

 

 

4.7

 

%

 

4.6

 

%

 
Components of Lease Expense

The components of lease costs, including leases of less than 12 months, were as follows:

 

 

 

Nine months ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

 

(Unaudited)

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

Operating lease costs

 

$

14,226

 

 

$

15,386

 

 

 

 

 

 

 

 

Finance lease cost:

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

7,631

 

 

$

23,903

 

Interest on lease liabilities

 

 

1,062

 

 

 

3,048

 

Total finance lease cost

 

$

8,693

 

 

$

26,951

 

The components of lease costs, including leases of less than 12 months, were as follows:

 

 

 

Nine months ended

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

 

(Unaudited)

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

Operating lease costs

 

$

14,226

 

 

$

15,386

 

 

 

 

 

 

 

 

Finance lease cost:

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

7,631

 

 

$

23,903

 

Interest on lease liabilities

 

 

1,062

 

 

 

3,048

 

Total finance lease cost

 

$

8,693

 

 

$

26,951

 

Maturities of Lease Liabilities

Maturities of lease liabilities were as follows:

 

 

 

Finance leases

 

 

Operating leases

 

 

 

(Unaudited)

 

Year ending March 31,

 

(In thousands)

 

 

 

 

 

 

 

 

2026 (3 months)

 

$

11,558

 

 

$

2,439

 

2027

 

 

 

 

 

8,696

 

2028

 

 

 

 

 

7,265

 

2029

 

 

 

 

 

5,309

 

2030

 

 

 

 

 

4,018

 

Thereafter

 

 

 

 

 

57,278

 

Total lease payments

 

 

11,558

 

 

 

85,005

 

Less: imputed interest

 

 

(121

)

 

 

(43,541

)

Present value of lease liabilities

 

$

11,437

 

 

$

41,464