Leases (Tables)

9 Months Ended

Dec. 31, 2019

Leases [Abstract]

Summary of Components of Lease Expense

The components of lease expense are as follows:

	Three Months Ended		Nine Months Ended
	December 31, 2019		December 31, 2019
Operating lease expense	$	3,832,000	$	11,270,000
Short-term lease expense		131,000		182,000
Variable lease expense		36,000		82,000
	$	3,999,000	$	11,534,000

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:

	December 31, 2019
Right-of-use asset, net	$	93,541,000
Short-term lease liability	$	13,259,000
Long-term lease liability		87,587,000
Total lease liabilities	$	100,846,000
Weighted average remaining lease term	8.47 years
Weighted average discount rate		4.0	%

Schedule of Supplemental Cash Flow Information Related to Operating Leases

Supplemental cash flow information related to operating leases for the nine months ended December 31, 2019 were as follows:

Cash paid for amounts included in the measurement of operating lease liabilities	$	11,270,000
Operating lease liabilities arising from obtaining ROU assets	$	110,441,000
Reductions to ROU assets resulting from reductions to operating lease liabilities	$	8,254,000

Summary of Maturities of Operating Lease Liabilities

As of December 31, 2019, maturities of operating lease liabilities for each of the next five years and thereafter are as follows:

2020	$	3,734,000
2021		14,922,000
2022		14,230,000
2023		14,307,000
2024		12,869,000
Thereafter		60,223,000
Total lease payments		120,285,000
Less interest		(19,439,000	)
Total lease liabilities	$	100,846,000