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

Leases (Tables)

3 Months Ended

Jun. 30, 2020


Lease Term and Discount Rate	June 30, 2020		March 31, 2020
Weighted average remaining lease term
Operating	6.0		6.2
Finance	3.4		3.4

Weighted average discount rate
Operating	4.81	%	4.82	%
Finance	6.96	%	6.98	%

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


Lease expense	Classification	Three Months Ended June 30, 2020		Three Months Ended June 30, 2019
Operating lease expense	Marketing, general and administrative and engineering	$	1,141	$	808

Finance lease expense:
Amortization of ROU assets	Marketing, general and administrative and engineering	77		59
Interest expense on finance lease liabilities	Interest expense	11		13

Short-term lease expense	Marketing, general and administrative and engineering	21		463
Net lease expense		$	1,250	$	1,343

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


Cash paid for amounts included in the measurement of lease liabilities	Three Months Ended June 30, 2020		Three Months Ended June 30, 2019
Operating cash used for operating leases	$	1,168	$	718
Operating cash flows used for finance leases	11		10
Financing cash flows used for finance leases	74		38

Supplemental balance sheet information related to leases was as follows:


Assets	Classification	June 30, 2020		March 31, 2020
Operating	Operating lease right-of-use assets	$	16,039	$	16,637
Finance	Property, plant and equipment	619		695
Total right-of-use assets		$	16,658	$	17,332

Liabilities
Current
Operating	Lease liabilities	$	3,546	$	3,352
Finance	Lease liabilities	234		201
Non-current
Operating	Non-current lease liabilities	14,255		15,060
Finance	Non-current lease liabilities	405		511
Total lease liabilities		$	18,440	$	19,124

Future lease payments under non-cancellable operating leases as of June 30, 2020 were as follows:

Future lease payments under non-cancellable operating leases as of June 30, 2020 were as follows: