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RESERVES FOR CREDIT LOSSES | 12 Months Ended
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Mar. 31, 2019
RESERVES FOR CREDIT LOSSES [Abstract] |
RESERVES FOR CREDIT LOSSES |
6. | RESERVES FOR CREDIT LOSSES
Activity in our reserves for credit losses for the years ended March 31, 2019, 2018 and 2017 were as follows (in thousands):
|  | Accounts Receivable |  |  | Notes Receivable |  |  | Lease-Related Receivables |  |  | Total |
Balance April 1, 2018 |  | $ | 1,538 |  |  | $ | 486 |  |  | $ | 640 |  |  | $ | 2,664 |
Provision for credit losses |  |  | 195 |  |  |  | 250 |  |  |  | (110 | ) |  |  | 335 |
Write-offs and other |  |  | (154 | ) |  |  | (231 | ) |  |  | - |  |  |  | (385 | )
Balance March 31, 2019 |  | $ | 1,579 |  |  | $ | 505 |  |  | $ | 530 |  |  | $ | 2,614 |
|  | Accounts Receivable |  |  | Notes Receivable |  |  | Lease-Related Receivables |  |  | Total |
Balance April 1, 2017 |  | $ | 1,279 |  |  | $ | 3,434 |  |  | $ | 679 |  |  | $ | 5,392 |
Provision for credit losses |  |  | 264 |  |  |  | 73 |  |  |  | 125 |  |  |  | 462 |
Write-offs and other |  |  | (5 | ) |  |  | (3,021 | ) |  |  | (164 | ) |  |  | (3,190 | )
Balance March 31, 2018 |  | $ | 1,538 |  |  | $ | 486 |  |  | $ | 640 |  |  | $ | 2,664 |
Our reserve for credit losses and minimum lease payments associated with our investment in direct financing and sales- type lease balances disaggregated on the basis of our impairment method were as follows (in thousands):
|  | March 31, 2019 |  |  | March 31, 2018 |
|  | Notes Receivable |  |  | Lease- Related Receivables |  |  | Notes Receivable |  |  | Lease- Related Receivables |
Reserves for credit losses: |  |  |  |  |  |  |  |  |  |  |  |
Ending balance: collectively evaluated for impairment |  | $ | 443 |  |  | $ | 530 |  |  | $ | 424 |  |  | $ | 640 |
Ending balance: individually evaluated for impairment |  |  | 62 |  |  |  | - |  |  |  | 62 |  |  |  | - |
Ending balance |  | $ | 505 |  |  | $ | 530 |  |  | $ | 486 |  |  | $ | 640 |
Minimum payments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance: collectively evaluated for impairment |  | $ | 40,501 |  |  | $ | 64,201 |  |  | $ | 62,930 |  |  | $ | 65,943 |
Ending balance: individually evaluated for impairment |  |  | 62 |  |  |  | - |  |  |  | 62 |  |  |  | - |
Ending balance |  | $ | 40,563 |  |  | $ | 64,201 |  |  | $ | 62,992 |  |  | $ | 65,943 |
The net credit exposure for the individually evaluated for impairment as of March 31, 2019 and March 31, 2018 was $0.1 million, which is related to one customer. The age of the recorded minimum lease payments and net credit exposure associated with our investment in direct financing and sales-type leases that are past due disaggregated based on our internally assigned credit quality rating (“CQR”) were as follows as of March 31, 2019 and 2018 (in thousands):
|  | 31-60 Days Past Due |  |  | 61-90 Days Past Due |  |  | Greater than 90 Days Past Due |  |  | Total Past Due |  |  | Current |  |  | Unbilled Minimum Lease Payments |  |  | Total Minimum Lease Payments |  |  | Unearned Income |  |  | Non- Recourse Notes Payable |  |  | Net Credit Exposure |
March 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
High CQR |  | $ | 325 |  |  | $ | 41 |  |  | $ | 10 |  |  | $ | 376 |  |  | $ | 543 |  |  | $ | 29,503 |  |  | $ | 30,422 |  |  | $ | (2,799 | ) |  | $ | (11,044 | ) |  | $ | 16,579 |
Average CQR |  |  | 22 |  |  |  | 54 |  |  |  | 15 |  |  |  | 91 |  |  |  | 125 |  |  |  | 33,563 |  |  |  | 33,779 |  |  |  | (2,508 | ) |  |  | (20,848 | ) |  |  | 10,423 |
Low CQR |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 347 |  |  | $ | 95 |  |  | $ | 25 |  |  | $ | 467 |  |  | $ | 668 |  |  | $ | 63,066 |  |  | $ | 64,201 |  |  | $ | (5,307 | ) |  | $ | (31,892 | ) |  | $ | 27,002 |
March 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
High CQR |  | $ | 143 |  |  | $ | 40 |  |  | $ | 43 |  |  | $ | 226 |  |  | $ | 224 |  |  | $ | 33,779 |  |  | $ | 34,229 |  |  | $ | (3,743 | ) |  | $ | (17,207 | ) |  | $ | 13,279 |
Average CQR |  |  | 109 |  |  |  | 31 |  |  |  | 117 |  |  |  | 257 |  |  |  | 171 |  |  |  | 31,286 |  |  |  | 31,714 |  |  |  | (2,749 | ) |  |  | (16,012 | ) |  |  | 12,953 |
Low CQR |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 252 |  |  | $ | 71 |  |  | $ | 160 |  |  | $ | 483 |  |  | $ | 395 |  |  | $ | 65,065 |  |  | $ | 65,943 |  |  | $ | (6,492 | ) |  | $ | (33,219 | ) |  | $ | 26,232 |
The age of the recorded notes receivable balance disaggregated based on our internally assigned CQR were as follows as March 31, 2019 and 2018 (in thousands):
|  | 31-60 Days Past Due |  |  | 61-90 Days Past Due |  |  | Greater than 90 Days Past Due |  |  | Total Past Due |  |  | Current |  |  | Unbilled Notes Receivable |  |  | Total Notes Receivable |  |  | Non- Recourse Notes Payable |  |  | Net Credit Exposure |
March 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
High CQR |  | $ | 990 |  |  | $ | 40 |  |  | $ | 30 |  |  | $ | 1,060 |  |  | $ | 3,813 |  |  | $ | 28,113 |  |  | $ | 32,986 |  |  | $ | (18,245 | ) |  | $ | 14,741 |
Average CQR |  |  | 105 |  |  |  | 34 |  |  |  | 7 |  |  |  | 146 |  |  |  | 137 |  |  |  | 7,232 |  |  |  | 7,515 |  |  |  | (1,507 | ) |  |  | 6,008 |
Low CQR |  |  | - |  |  |  | - |  |  |  | 62 |  |  |  | 62 |  |  |  | - |  |  |  | - |  |  |  | 62 |  |  |  | - |  |  |  | 62 |
Total |  | $ | 1,095 |  |  | $ | 74 |  |  | $ | 99 |  |  | $ | 1,268 |  |  | $ | 3,950 |  |  | $ | 35,345 |  |  | $ | 40,563 |  |  | $ | (19,752 | ) |  | $ | 20,811 |
March 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
High CQR |  | $ | 175 |  |  | $ | 527 |  |  | $ | 423 |  |  | $ | 1,125 |  |  | $ | 3,262 |  |  | $ | 40,896 |  |  | $ | 45,283 |  |  | $ | (30,345 | ) |  | $ | 14,938 |
Average CQR |  |  | 42 |  |  |  | 409 |  |  |  | 22 |  |  |  | 473 |  |  |  | 394 |  |  |  | 16,780 |  |  |  | 17,647 |  |  |  | (10,424 | ) |  |  | 7,223 |
Low CQR |  |  | - |  |  |  | - |  |  |  | 62 |  |  |  | 62 |  |  |  | - |  |  |  | - |  |  |  | 62 |  |  |  | - |  |  |  | 62 |
Total |  | $ | 217 |  |  | $ | 936 |  |  | $ | 507 |  |  | $ | 1,660 |  |  | $ | 3,656 |  |  | $ | 57,676 |  |  | $ | 62,992 |  |  | $ | (40,769 | ) |  | $ | 22,223 |
We estimate losses on our net credit exposure to be between 0% - 5% for customers with high CQR, as these customers are investment grade or the equivalent of investment grade. We estimate losses on our net credit exposure to be between 2% - 15% for customers with average CQR, and between 15% - 100% for customers with low CQR, which includes customers in bankruptcy.

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- Definition The entire disclosure for allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -URI http://asc.fasb.org/topic&trid=2196771 + Details
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