Thermon Group Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

6 Months Ended

Sep. 30, 2019

Supplemental statement of operations information related to leases was as follows:



Lease expense	Classification	Three Months Ended September 30, 2019		Six Months Ended September 30, 2019
Operating lease expense	Marketing, general and administrative and engineering	$	959	$	1,767

Finance lease expense:
Amortization of ROU assets	Marketing, general and administrative and engineering	66		125
Interest expense on finance lease liabilities	Interest expense	13		26

Short-term lease expense	Marketing, general and administrative and engineering	252		715
Net lease expense		$	1,290	$	2,633

Supplemental statement of cash flows information related to leases was as follows:



Cash paid for amounts included in the measurement of lease liabilities	Six Months Ended September 30, 2019
Operating cash used for operating leases	$	1,365
Operating cash flows used for finance leases	26
Financing cash flows used for finance leases	108



Lease Term and Discount Rate	September 30, 2019
Weighted average remaining lease term
Operating	6.7
Finance	2.5

Weighted average discount rate
Operating	4.63	%
Finance	7.98	%

Supplemental balance sheet information related to leases was as follows:



Assets	Classification	September 30, 2019
Operating	Operating lease right-of-use assets	$	14,170
Finance	Property, plant and equipment	395
Total right-of-use assets		$	14,565

Liabilities
Current
Operating	Lease liabilities	$	2,459
Finance	Lease liabilities	210
Non-current
Operating	Non-current lease liabilities	12,839
Finance	Non-current lease liabilities	209
Total lease liabilities		$	15,717

Future lease payments under non-cancellable operating leases as of September 30, 2019 were as follows:



Future Lease Payments	Operating Leases			Finance Leases
Twelve months ending September 30,
2020	$	3,110		$	236
2021	3,037			136
2022	2,828			51
2023	2,102			26
2024	1,332			—
Thereafter	5,997			—
Total lease payments	$	18,406		$	449
Less imputed interest	(3,108		)	(30		)
Total lease liability	$	15,298		$	419

Future lease payments under non-cancellable operating leases as of September 30, 2019 were as follows:



Future Lease Payments	Operating Leases			Finance Leases
Twelve months ending September 30,
2020	$	3,110		$	236
2021	3,037			136
2022	2,828			51
2023	2,102			26
2024	1,332			—
Thereafter	5,997			—
Total lease payments	$	18,406		$	449
Less imputed interest	(3,108		)	(30		)
Total lease liability	$	15,298		$	419