PROPERTY AND EQUIPMENT:

12 Months Ended

Mar. 31, 2021

Property, Plant and Equipment [Abstract]

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


	March 31, 2021		March 31, 2020

Leasehold improvements	$	26,024	$	25,614
Data processing equipment	9,053		9,499
Office furniture and other equipment	9,207		9,673
	44,284		44,786
Less accumulated depreciation and amortization	32,327		25,465
	$	11,957	$	19,321

Depreciation expense on property and equipment was $8.9 million, $15.3 million, and $15.6 million for fiscal years ended March 31, 2021, 2020, and 2019, respectively. Depreciation expense in fiscal 2020 and 2019 included $3.6 million and $3.8 million, respectively, 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.