Leases (Tables)

3 Months Ended

Jun. 30, 2024

Leases [Abstract]

Summary of Components of Lease Expenses

The components of lease expense are as follows:

	Three Months Ended		Three Months Ended
	June 30, 2024		June 30, 2023
Operating lease expense	$	2,237,000	$	2,763,000
Finance lease expense		21,000		22,000
Short-term lease expense		96,000		7,000
Variable lease expense		136,000		269,000
Total lease expenses	$	2,490,000	$	3,061,000

Summary of Lease Related Assets and Liabilities Recorded in Balance Sheet Related to Operating Leases

The following table presents the lease related assets and liabilities recorded on the Company’s consolidated balance sheets related to its operating leases:

	June 30, 2024			March 31, 2024
Right-of-use asset, net	$	23,241,000		$	24,058,000
Short-term lease liability	$	8,734,000		$	8,864,000
Long-term lease liability		21,714,000			22,533,000
Total lease liabilities	$	30,448,000		$	31,397,000
Weighted average remaining operating lease term	4.07 years			4.11 years
Weighted average remaining finance lease term	1 year			1.25 years
Weighted average discount rate		3.9	%		3.7	%

Schedule of Supplemental Cash Flow Information Related to Operating Leases

Supplemental cash flow information related to operating leases for the three months ended June 30, 2024 and 2023 was as follows:

	Three Months Ended		Three Months Ended
	June 30, 2024		June 30, 2023
Cash paid for amounts included in the measurement of    operating lease liabilities	$	2,369,000	$	2,758,000
Operating lease liabilities arising from obtaining ROU assets	$	50,207,000	$	53,496,000
Finance lease liabilities arising from obtaining ROU assets	$	358,000	$	358,000
Additions/(reductions) to ROU assets resulting from    additions/(reductions) to operating lease liabilities	$	550,000	$	(324,000	)

Summary of Maturities of Operating Lease Liabilities

As of June 30, 2024, maturities of operating lease liabilities for each of the next five years and thereafter are as follows:

2025	$	7,377,000
2026		8,097,000
2027		6,446,000
2028		5,524,000
2029		3,405,000
Thereafter		2,407,000
Total lease payments		33,256,000
Less interest		(2,808,000	)
Total lease liabilities	$	30,448,000