Leases

3 Months Ended

Jun. 30, 2021

Note 16: Leases

Lease Assets and Liabilities

The following table provides a summary of leases recorded on the consolidated balance sheets. The amounts exclude operating lease right of use (“ROU”) assets and liabilities, which each totaled $4.5 million and $6.1 million as of June 30, 2021 and March 31, 2021, respectively, that are classified as held for sale on the Company’s consolidated balance sheets; see Note 2 for additional information.

	Balance Sheet Location	June 30, 2021		March 31, 2021
Lease Assets
Operating lease ROU assets	Other noncurrent assets	$	53.6	$	54.1
Finance lease ROU assets (a)	Property, plant and equipment - net		8.3		8.3

Lease Liabilities
Operating lease liabilities	Other current liabilities	$	11.8	$	11.2
Operating lease liabilities	Other noncurrent liabilities		43.7		44.8
Finance lease liabilities	Long-term debt - current portion		0.4		0.4
Finance lease liabilities	Long-term debt		3.2		3.2

(a)	Finance lease ROU assets were recorded net of accumulated amortization of $2.5 million and $2.4 million as of June 30, 2021 and March 31, 2021, respectively.

Components of Lease Expense

The components of lease expense were as follows:

	Three months ended June 30,
	2021		2020
Operating lease expense (a)	$	4.6	$	4.9
Finance lease expense:
Depreciation of ROU assets		0.1		0.1
Interest on lease liabilities		-		-
Total lease expense	$	4.7	$	5.0

(a)	For the three months ended June 30, 2021 and 2020, operating lease expense included short-term lease expense of $0.8 million and $0.9 million, respectively. Variable lease expense was not significant.