Leases (Table Text Block)
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9 Months Ended |
Dec. 31, 2025 |
Dec. 31, 2024 |
| Leases [Abstract] |
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| Supplemental Balance Sheet Information Related to Leases |
The following tables show the components of our right-of-use (“ROU") assets, net:
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As of December 31, 2025 |
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Finance |
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Operating |
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Total |
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(Unaudited) |
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(In thousands) |
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Buildings and improvements |
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$ |
— |
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$ |
72,557 |
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$ |
72,557 |
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Furniture and equipment |
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61 |
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— |
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61 |
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Rental trailers and other rental equipment |
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9,192 |
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— |
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9,192 |
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Rental trucks |
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80,722 |
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— |
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80,722 |
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Right-of-use assets, gross |
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89,975 |
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72,557 |
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162,532 |
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Less: Accumulated depreciation |
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(59,414 |
) |
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(31,868 |
) |
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(91,282 |
) |
Right-of-use assets, net |
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$ |
30,561 |
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$ |
40,689 |
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$ |
71,250 |
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As of March 31, 2025 |
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Finance |
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Operating |
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Total |
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(Unaudited) |
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(In thousands) |
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Buildings and improvements |
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$ |
— |
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$ |
71,330 |
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$ |
71,330 |
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Furniture and equipment |
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61 |
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— |
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61 |
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Rental trailers and other rental equipment |
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58,071 |
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— |
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58,071 |
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Rental trucks |
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309,475 |
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— |
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309,475 |
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Right-of-use assets, gross |
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367,607 |
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71,330 |
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438,937 |
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Less: Accumulated depreciation |
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(228,909 |
) |
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(25,305 |
) |
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(254,214 |
) |
Right-of-use assets, net |
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$ |
138,698 |
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$ |
46,025 |
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$ |
184,723 |
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| Finance lease, Liability, to be Paid, Maturity |
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Finance leases |
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December 31, |
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March 31, |
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2025 |
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2025 |
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(Unaudited) |
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Weighted average remaining lease term (years) |
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0.2 |
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0.6 |
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Weighted average discount rate |
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4.3 |
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% |
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4.4 |
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% |
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| Lessee, Operating Lease, Liability, to be Paid, Maturity |
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Operating leases |
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December 31, |
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March 31, |
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2025 |
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2025 |
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(Unaudited) |
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Weighted average remaining lease term (years) |
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26.0 |
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24.1 |
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Weighted average discount rate |
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4.7 |
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% |
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4.6 |
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% |
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| Components of Lease Expense |
The components of lease costs, including leases of less than 12 months, were as follows:
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Nine months ended |
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December 31, 2025 |
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December 31, 2024 |
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(Unaudited) |
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(In thousands) |
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Operating lease costs |
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$ |
14,226 |
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$ |
15,386 |
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Finance lease cost: |
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Amortization of right-of-use assets |
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$ |
7,631 |
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$ |
23,903 |
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Interest on lease liabilities |
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1,062 |
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3,048 |
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Total finance lease cost |
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$ |
8,693 |
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$ |
26,951 |
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The components of lease costs, including leases of less than 12 months, were as follows:
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Nine months ended |
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December 31, 2025 |
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December 31, 2024 |
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(Unaudited) |
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(In thousands) |
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Operating lease costs |
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$ |
14,226 |
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$ |
15,386 |
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Finance lease cost: |
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Amortization of right-of-use assets |
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$ |
7,631 |
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$ |
23,903 |
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Interest on lease liabilities |
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1,062 |
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3,048 |
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Total finance lease cost |
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$ |
8,693 |
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$ |
26,951 |
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| Maturities of Lease Liabilities |
Maturities of lease liabilities were as follows:
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Finance leases |
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Operating leases |
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(Unaudited) |
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Year ending March 31, |
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(In thousands) |
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2026 (3 months) |
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$ |
11,558 |
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$ |
2,439 |
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2027 |
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— |
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8,696 |
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2028 |
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— |
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7,265 |
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2029 |
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— |
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5,309 |
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2030 |
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— |
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4,018 |
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Thereafter |
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— |
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57,278 |
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Total lease payments |
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11,558 |
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85,005 |
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Less: imputed interest |
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(121 |
) |
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(43,541 |
) |
Present value of lease liabilities |
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$ |
11,437 |
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$ |
41,464 |
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