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LEASES

9 Months Ended

Dec. 31, 2013

6. LEASES

The Company leases facilities, equipment and land under operating leases expiring through 2035. The land lease provides for contingent rentals in excess of minimum rental commitments based on a percentage of the Company’s sales. Management has accrued for the estimated contingent rent as of December 31, 2013.

Future minimum lease payments under all non-cancelable operating leases at December 31, 2013 are as follows:

Payments Due	(in thousands)
Next 12 Months	$	482
Year 2	442
Year 3	341
Year 4	305
Year 5	299
Thereafter	5,087
Total minimum lease payments	$	6,956

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

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