Leases (Tables)

6 Months Ended

Sep. 30, 2024

Leases

Leases Recorded on Consolidated Balance Sheets

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

	Balance Sheet Location	September 30, 2024		March 31, 2024
Lease Assets
Operating lease ROU assets	Other noncurrent assets	$	91.4	$	76.0
Finance lease ROU assets (a)	Property, plant and equipment - net		7.3		6.5
Lease Liabilities
Operating lease liabilities	Other current liabilities	$	17.4	$	15.3
Operating lease liabilities	Other noncurrent liabilities		75.4		62.1
Finance lease liabilities	Long-term debt - current portion		0.5		0.4
Finance lease liabilities	Long-term debt		2.5		1.9
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(a) Finance right of use (“ROU”) assets were recorded net of accumulated amortization of $4.0 million and $3.7 million as of September 30, 2024 and March 31, 2024, respectively.

Components of Lease Expense

The components of lease expense were as follows:

	Three months ended September 30,				Six months ended September 30,
	2024		2023		2024		2023
Operating lease expense (a)	$	7.7	$	5.6	$	14.6	$	11.5
Finance lease expense:
Depreciation of ROU assets		0.2		0.2		0.3		0.3
Interest on lease liabilities		0.1		0.1		0.1		0.1
Total lease expense	$	8.0	$	5.9	$	15.0	$	11.9
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(a) For three and six months ended September 30, 2024, operating lease expense included short-term lease expense of $1.8 million and $3.1 million, respectively. For three and six months ended September 30, 2023, operating lease expense included short-term lease expense of $1.4 million and $2.9 million, respectively. Variable lease expense was not significant.