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FINANCING RECEIVABLES AND OPERATING LEASES (Tables)
 9 Months Ended
Dec. 31, 2024
FINANCING RECEIVABLES AND OPERATING LEASES [Abstract]  
Sales-type Leases The following table provides the profit recognized for sales-type leases at their commencement date, including modifications that are recognized on a net basis, for the three and nine months ended December 31, 2024, and 2023 (in thousands):
  
Three months Ended December 31,
 
Nine months Ended December 31,
  
2024
 
2023
 
2024
 
2023
Net sales
 
$
13,107
  
$
7,418
  
$
24,472
  
$
19,913
 
Cost of sales
  
11,236
   
6,666
   
21,251
   
18,189
 
Gross profit
 
$
1,871
  
$
752
  
$
3,221
  
$
1,724
 
The following table provides interest income in aggregate on our sales-type leases and lease income on our operating leases for the three and nine months ended December 31, 2024, and 2023 (in thousands):
  
Three months Ended December 31,
 
Nine months Ended December 31,
  
2024
 
2023
 
2024
 
2023
Interest income on sales-type leases
 
$
2,725
  
$
1,912
  
$
6,967
  
$
4,898
 
Lease income on operating leases
 
$
1,908
  
$
2,757
  
$
6,869
  
$
8,366
 
Notes Receivable Net and Investments in Leases The following tables provide a disaggregation of our financing receivables – net (in thousands):
  
Notes
 
Sales-Type Lease
 
Financing
December 31, 2024
 
Receivable
 
Receivables
 
Receivables
Gross receivables
 
$
146,243
  
$
104,017
  
$
250,260
 
Unguaranteed residual value (1)
  
-
   
13,357
   
13,357
 
Unearned income
  
(9,127
)
  
(16,225
)
  
(25,352
)
Allowance for credit losses (2)
  
(1,677
)
  
(2,028
)
  
(3,705
)
Total, net
 
$
135,439
  
$
99,121
  
$
234,560
 
Reported as:
            
Current
 
$
91,848
  
$
56,910
  
$
148,758
 
Long-term
  
43,591
   
42,211
   
85,802
 
Total, net
 
$
135,439
  
$
99,121
  
$
234,560
 
(1)
Includes unguaranteed residual values of $4,751 thousand that we retained after selling the related lease receivable.
  
Notes
 
Sales-Type Lease
 
Financing
March 31, 2024
 
Receivable
 
Receivables
 
Receivables
Gross receivables
 
$
114,713
  
$
75,658
  
$
190,371
 
Unguaranteed residual value (1)
  
-
   
9,078
   
9,078
 
Unearned income
  
(6,503
)
  
(12,036
)
  
(18,539
)
Allowance for credit losses (2)
  
(1,056
)
  
(1,435
)
  
(2,491
)
Total, net
 
$
107,154
  
$
71,265
  
$
178,419
 
Reported as:
            
Current
 
$
61,830
  
$
40,770
  
$
102,600
 
Long-term
  
45,324
   
30,495
   
75,819
 
Total, net
 
$
107,154
  
$
71,265
  
$
178,419
 
(1)
Includes unguaranteed residual values of $3,718 thousand that we retained after selling the related lease receivable.
(2)
Refer to Note 7, “Allowance for Credit Losses” for details.
Investment in Operating Lease Equipment - Net Operating leases—net represents leases that do not qualify as sales-type leases. The components of the operating leases—net are as follows (in thousands):
  
December 31, 2024
 
March 31, 2024
Cost of equipment under operating leases
 
$
5,228
  
$
10,744
 
Accumulated depreciation
  
(3,394
)
  
(7,128
)
Operating leases—net (1)
 
$
1,834
  
$
3,616
 
(1)
Amounts include estimated unguaranteed residual values of $946 thousand and $1,346 thousand as of December 31, 2024, and March 31, 2024, respectively.