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Leases (Tables)
3 Months Ended
Jun. 30, 2019
Leases [Abstract]  
Summary of Operating Lease Right of use Assets and Lease Liabilities

The Company’s condensed consolidated balance sheet as of June 30, 2019 includes the following amounts for right-of-use assets and lease liabilities:

 

 

 

As of

June 30, 2019

 

 

 

(In thousands)

 

Operating lease right-of-use assets

 

$

320,227

 

 

 

 

 

 

Operating lease liabilities

 

$

40,804

 

Non-current operating lease liabilities

 

 

297,867

 

Total operating lease liabilities

 

$

338,671

 

 

Summary of Operating Lease Expense

The components of the Company's lease expense are presented in the table below:

 

 

 

Three Months

Ended

 

 

 

June 30, 2019

 

 

 

(In thousands)

 

Operating lease cost

 

$

15,399

 

Short-term and equipment lease cost

 

 

611

 

Variable lease cost

 

 

1,679

 

Net lease cost

 

$

17,689

 

 

Summary of Components of Cash Flow for Operating Lease Right of use assets and Lease Liabilities

The following table details components of cash flows for operating leases, right-of-use assets obtained in exchange for new operating lease liabilities, weighted average lease terms and discount rates:

 

 

 

Three Months

Ended

 

(In thousands, except lease term and discount rate)

 

June 30, 2019

 

Cash paid for amounts included in the measurement

   of operating lease liabilities

 

$

14,914

 

Right-of-use assets obtained in exchange for new

   operating lease liabilities

 

$

3,566

 

Weighted average remaining lease term - operating

   leases (in years)

 

 

7.6

 

Weighted average discount rate - operating leases

 

 

5.5

%

 

Summary of Future Minimum Lease Payments

The following table presents future lease payments under operating leases as of June 30, 2019:

 

 

 

Operating Leases

 

 

 

June 30, 2019

 

 

 

(In thousands)

 

Expected for the remainder of fiscal year 2020

 

$

42,551

 

Expected for fiscal year 2021

 

 

57,982

 

Expected for fiscal year 2022

 

 

55,520

 

Expected for fiscal year 2023

 

 

50,260

 

Expected for fiscal year 2024

 

 

50,225

 

Thereafter

 

 

160,415

 

Total future lease payments required

 

 

416,953

 

Less: imputed interest

 

 

78,282

 

Total

 

$

338,671

 

 

Summary of Future Minimum Lease Payments Under ASC 840 The following table presents the Company's future minimum lease payments for operating leases under ASC 840 at March 31, 2019:

 

 

 

Operating Leases

 

 

 

March 31, 2019

 

 

 

(In thousands)

 

Expected for fiscal year 2020

 

$

59,164

 

Expected for fiscal year 2021

 

 

59,452

 

Expected for fiscal year 2022

 

 

57,500

 

Expected for fiscal year 2023

 

 

50,933

 

Expected for fiscal year 2024

 

 

51,000

 

Thereafter

 

 

183,077

 

Total minimum payments required

 

$

461,126