Leases (Tables)

9 Months Ended

Dec. 31, 2020

Future minimum lease payments as of December 31, 2020, consisted of the following (in thousands):


Fiscal Year	Operating Leases
2021 (1)	$	97
2022	587
2023	587
2024	593
2025	604
Thereafter	276
Total lease payments	2,744
Less: imputed interest	(281)
Total operating lease liabilities	$	2,463

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(1) Represents the future minimum operating lease payments expected to be made over the remaining balance of the fiscal year.

The components of lease expense are as follows:

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(1) Variable lease expense is related to our leased real estate and primarily includes labor and operational costs as well as taxes and insurance.

(2) Short-term lease expense is immaterial.

The following table summarizes the classification of ROU assets and lease liabilities as of December 31, 2020 and March 31, 2020:


(in thousands)	December 31, 2020		March 31, 2020		Balance Sheet Classification
Assets:
ROU assets	$	2,573	$	628	Right-of-use assets on operating leases, net
Liabilities:
Current operating lease liability	440		339		Accrued expenses
Non-current operating lease liabilities	2,023		250		Lease liabilities non-current
Total lease liabilities	$	2,463	$	589