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Accounts Receivable
 12 Months Ended
Mar. 31, 2018
Receivables [Abstract]  
Accounts Receivable
Accounts Receivable
Accounts receivable at March 31, 2018 and March 31, 2017 consisted of the following (in thousands):
 
March 31,
2018
 
March 31,
2017
Accounts receivable (billed)
$
4,403

 
$
7,436

Accounts receivable (unbilled)
3,016

 
574

Less: Allowance for doubtful accounts
(54
)
 
(54
)
Accounts receivable, net
$
7,365

 
$
7,956

Note Receivable
AMSC entered into a purchase and sale agreement dated February 1, 2018 for the Devens facility (including land, building and building improvements) located at 64 Jackson Road, Devens, Massachusetts to 64 Jackson Road, LLC, a limited liability company, in the amount of $23.0 million. The terms for payment included a $1.0 million security deposit, and a note receivable for $6.0 million payable to AMSC with the remaining cash net of certain adjustments for closing costs at the date of settlement.
The note receivable is due in two $3.0 million installments plus accrued interest at 1.96% rate on March 31, 2019 and March 31, 2020. The note is subordinate to East Boston Savings Bank's mortgage on the Devens property. The note receivable was discounted to its present value of $5.7 million utilizing a discount rate of 6%, which was based on management’s assessment of what an appropriate loan at current market rate would be. The $0.3 million discount was recorded as an offset to the long term portion of the note receivable, and will be amortized to interest income over the term of the note. In addition, the resulting gain of $0.1 million from the sale of the property will be deferred under the cost recovery method for real estate sales due to the subordination of the note receivable. The deferred gain is offset against the long-term portion of the note receivable.
Note receivable as of March 31, 2018 consisted of the following (in thousands):
 
March 31,
2018
Current assets
 
    Note receivable, current
3,000

Total current note receivable
$
3,000

 
 
Long term assets
 
     Note receivable, long term
3,000

     Note receivable discount
(337
)
     Deferred gain on sale
(105
)
Total long term note receivable
$
2,559