PROPERTY AND EQUIPMENT:

9 Months Ended

Dec. 31, 2020

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT:

PROPERTY AND EQUIPMENT:

Property and equipment is summarized as follows (dollars in thousands):

	December 31, 2020		March 31, 2020
Leasehold improvements	$	26,058	$	25,614
Data processing equipment	8,821		9,499
Office furniture and other equipment	9,197		9,673
	44,076		44,786
Less accumulated depreciation and amortization	30,555		25,465
	$	13,521	$	19,321

Depreciation expense on property and equipment was $7.0 million and $12.8 million for the nine months ended December 31, 2020 and 2019, respectively. Depreciation expense for the nine months ended December 31, 2019 included $3.6 million of accelerated depreciation expense associated with the reduced useful life of certain IT equipment in connection with the Company's migration to a cloud-based data center solution.