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Leases (Tables)
9 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Summary of Lease Cost

The components of the Company's lease costs, weighted average lease terms and discount rates are presented in the tables below:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

December 31, 2019

 

 

December 31, 2019

 

 

 

(In thousands)

 

Lease cost:

 

 

 

 

 

 

 

 

Operating lease cost

 

$

15,348

 

 

$

45,728

 

Finance lease cost:

 

 

 

 

 

 

 

 

Depreciation of assets obtained under finance leases

 

 

3,659

 

 

 

7,676

 

Interest on lease liabilities

 

 

924

 

 

 

1,254

 

Short-term lease cost

 

 

1,474

 

 

 

3,491

 

Variable lease cost

 

 

2,724

 

 

 

6,446

 

Net lease cost

 

$

24,129

 

 

$

64,595

 

Summary of Operating and Finance Lease Costs Weighted Average Lease Terms and Discount Rates

 

 

As of

 

 

 

December 31, 2019

 

Lease term and discount rate:

 

 

 

 

Weighted average remaining lease term (in years):

 

 

 

 

Operating leases

 

 

7.2

 

Finance leases

 

 

6.6

 

 

 

 

 

 

Weighted average discount rate:

 

 

 

 

Operating leases

 

 

5.4

%

Finance leases

 

 

5.4

%

 

Summary of Components of Condensed Consolidated Statements of Cash Flow for Operating and Finance Leases

The following table details components of the condensed consolidated statements of cash flows for operating and finance leases:

 

 

 

Nine Months Ended

 

 

 

December 31, 2019

 

Cash paid for amounts included in the measurement

   of lease liabilities:

 

 

 

 

Operating cash flows from operating leases

 

$

44,522

 

Operating cash flows from finance leases

 

$

955

 

Financing cash flows from finance leases

 

$

5,495

 

 

 

 

 

 

Right-of-use assets obtained in exchange for lease liabilities:

 

 

 

 

Operating leases

 

$

17,900

 

Finance leases

 

$

72,711

 

Summary of Maturities of Lease Liabilities

The following table presents maturities of the Company’s lease liabilities as of December 31, 2019:

 

 

 

Operating Leases

 

 

Finance Leases

 

 

 

(In thousands)

 

Expected for the remainder of fiscal year 2020

 

$

13,596

 

 

$

3,450

 

Expected for fiscal year 2021

 

 

60,671

 

 

 

13,350

 

Expected for fiscal year 2022

 

 

58,438

 

 

 

12,000

 

Expected for fiscal year 2023

 

 

52,817

 

 

 

12,000

 

Expected for fiscal year 2024

 

 

52,572

 

 

 

12,000

 

Thereafter

 

 

165,166

 

 

 

27,000

 

Total future lease payments required

 

 

403,260

 

 

 

79,800

 

Less: interest

 

 

71,271

 

 

 

12,285

 

Total

 

$

331,989

 

 

$

67,515

 

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