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DISCONTINUED OPERATIONS (Tables) | 3 Months Ended
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Jun. 30, 2025
DISCONTINUED OPERATIONS [Abstract] |
Discontinued Operations | The following table provides our operating results of discontinued operations for the three months ended June 30, 2025, and 2024 (in thousands):
| Three months ended June 30,
| 2025 |  | 2024
Net sales | $ | 15,811 |  |  | $ | 8,886 |
Cost of sales |  | 1,734 |  |  |  | 1,279 |
Gross profit |  | 14,077 |  |  |  | 7,607 |
Selling, general, and administrative |  | 3,599 |  |  |  | 3,012 |
Interest and financing costs |  | 450 |  |  |  | 585 |
Operating expenses |  | 4,049 |  |  |  | 3,597 |
Operating income |  | 10,028 |  |  |  | 4,010 |
Other income—net |  | 211 |  |  |  | 362 |
Earnings before gain from sale and income taxes |  | 10,239 |  |  |  | 4,372 |
Gain from sale of HoldCo before income taxes |  | 4,368 |  |  |  | - |
Earnings before income taxes |  | 14,607 |  |  |  | 4,372 |
Provision for income taxes |  | 4,038 |  |  |  | 1,226 |
Earnings from discontinued operations, net of tax | $ | 10,569 |  |  | $ | 3,146 |
The following table provides the major classes of assets and liabilities that are classified as discontinued operations as of March 31, 2025 (in thousands):
|  | March 31, 2025 |
ASSETS |  |  |
Accounts receivable | $ | 34,610 |
Financing receivables—net, current |  | 168,392 |
Other current assets |  | 19,397 |
Current assets of discontinued operations | $ | 222,399 |
Financing receivables and operating leases—net | $ | 126,408 |
Other assets—long-term |  | 7,427 |
Non-current assets of discontinued operations | $ | 133,835 |
LIABILITIES |  |  |
Accounts payable | $ | 127,154 |
Salaries and commissions payable |  | 2,812 |
Non-recourse notes payable—current |  | 27,456 |
Other current liabilities |  | 9,041 |
Current liabilities of discontinued operations | $ | 166,463 |
Non-recourse notes payable—long-term |  | 11,317 |
Other liabilities—long-term |  | 1,229 |
Non-current liabilities of discontinued operations | $ | 12,546 |

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