Leases (Tables)

9 Months Ended

Dec. 31, 2025

Leases

Leases recorded on consolidated balance sheets

The following table provides a summary of leases recorded on the consolidated balance sheets.

	Balance Sheet Location	December 31, 2025		March 31, 2025
Lease Assets
Operating lease ROU assets	Other noncurrent assets	$	135.4	$	97.2
Finance lease ROU assets (a)	Property, plant and equipment - net		6.9		6.9
Lease Liabilities
Operating lease liabilities	Other current liabilities	$	23.3	$	18.0
Operating lease liabilities	Other noncurrent liabilities		114.0		80.6
Finance lease liabilities	Long-term debt - current portion		0.6		0.5
Finance lease liabilities	Long-term debt		1.9		2.2
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(a) Finance right of use (“ROU”) assets were recorded net of accumulated amortization of $4.7 million and $4.2 million as of December 31, 2025 and March 31, 2025, respectively.

Components of Lease Expense

Components of lease expense

The components of lease expense were as follows:

	Three months ended December 31,				Nine months ended December 31,
	2025		2024		2025		2024
Operating lease expense (a)	$	12.4	$	8.5	$	32.6	$	23.1
Finance lease expense:
Depreciation of ROU assets		0.1		0.1		0.4		0.4
Interest on lease liabilities		—		—		0.1		0.1
Total lease expense	$	12.5	$	8.6	$	33.1	$	23.6
____

(a) For the three and nine months ended December 31, 2025, operating lease expense included short-term lease expense of $3.1 million and $8.1 million, respectively. For the three and nine months ended December 31, 2024, operating lease expense included short-term lease expense of $1.7 million and $4.8 million, respectively. Variable lease expense was not significant.