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PROPERTY AND EQUIPMENT
 12 Months Ended
Mar. 31, 2023
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT:
Property and equipment is summarized as follows (dollars in thousands):
March 31, 2023March 31, 2022
Leasehold improvements$25,262 $28,224 
Data processing equipment6,537 7,001 
Office furniture and other equipment7,594 9,776 
39,393 45,001 
Less accumulated depreciation and amortization32,308 33,470 
Property and equipment, net of accumulated depreciation and amortization$7,085 $11,531 

Depreciation expense on property and equipment was $4.0 million, $5.4 million and $8.9 million for the twelve months ended March 31, 2023, 2022 and 2021, respectively.

During the twelve months ended March 31, 2023, the Company recorded $4.1 million of impairment charges related to the exit from certain leased office facilities that are included in gains, losses and other items, net in the consolidated statements of operations. There were no impairment charges recorded during the twelve months ended March 31, 2022 and 2021.