LEASES

6 Months Ended

Sep. 30, 2025

4. LEASES:

Right-of-use assets and lease liabilities balances consist of the following (dollars in thousands):



	September 30, 2025			March 31, 2025
Right-of-use assets included in other assets, net	$	18,100		$	19,341
Short-term lease liabilities included in other accrued expenses	$	9,518		$	9,351
Long-term lease liabilities included in other liabilities	$	23,818		$	26,939

Supplemental balance sheet information:
Weighted average remaining lease term	4.0 years			4.5 years
Weighted average discount rate	5.5		%	5.4		%

The Company leases its office facilities under non-cancellable operating leases that expire at various dates through fiscal 2031. Certain leases contain provisions for property-related costs that are variable in nature for which the Company is responsible, including common area maintenance and other property operating services. These costs are calculated based on a variety of factors including property values, tax and utility rates, property service fees, and other factors.

The components of lease cost, net for the six months ended September 30, 2025 and 2024, respectively, were as follows (dollars in thousands):


	For the six months ended September 30,
	2025		2024
Operating lease costs	$	3,786	$	4,074
Operating sublease income	913		482
Total leases costs, net	$	2,873	$	3,592

The following table presents future minimum payments under all operating leases and subleases (including operating leases with a duration of one year or less and excluding ASC 840 leases related to restructuring plans) as of September 30, 2025. The amount for fiscal 2026 represents the remaining six months ending March 31, 2026. All other periods represent fiscal years ending March 31 (dollars in thousands):


Fiscal year:	Operating lease payments		Payments expected under noncancellable subleases		Net operating lease payments
2026	$	4,991	$	(936)	4,055
2027	9,458		(2,084)		7,374
2028	9,472		(2,147)		7,325
2029	9,044		(2,211)		6,833
2030	2,591		(189)		2,402
Thereafter	1,708		—		1,708
Total undiscounted lease payments	37,264		(7,567)		29,697
Less: Interest and short-term leases	3,928		(959)		2,969
Total discounted operating lease liabilities	$	33,336	$	(6,608)	$	26,728

Future minimum payments as of September 30, 2025 related to ASC 840 lease liabilities under restructuring plans as a result of the Company's exit from certain leased office facilities (see Note 13) are as follows (dollars in thousands): Fiscal 2026: $450.