|9 Months Ended|
Dec. 31, 2016
Effective on November 10, 2016, we executed an amendment to the lease of our headquarters facility, pursuant to which the term of the lease was extended from July 31, 2017 to July 31, 2022 and the base rent for the five-year extension period was specified. The lease amendment also provides for a two-month period of rent abatement and an allowance for tenant improvements, which allowance may be disbursed between January 1, 2017 and August 1, 2018. We have recognized the effect of the amendment in the balance reported as Deferred Rent Liability in the accompanying Condensed Consolidated Balance Sheet at December 31, 2016 and in rent expense in the Condensed Consolidated Statement of Operations for the quarter ended December 31, 2016.
The entire disclosure for debt and capital lease obligations can be reported. Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Also includes descriptions and amounts of capital leasing arrangements that consist of direct financing, sales type and leveraged leases. Disclosure may include the effect on the balance sheet and the income statement resulting from a change in lease classification for leases that at inception would have been classified differently had guidance been in effect at the inception of the original lease.
No definition available.