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Accounts Receivable Discount Programs
9 Months Ended
Dec. 31, 2014
Accounts Receivable Discount Programs [Abstract]  
Accounts Receivable Discount Programs
9. Accounts Receivable Discount Programs

The Company uses receivable discount programs with certain customers and their respective banks. Under these programs, the Company may sell those customers’ receivables to those banks at a discount to be agreed upon at the time the receivables are sold. These discount arrangements allow the Company to accelerate collection of customers’ receivables.

The following is a summary of the Company’s accounts receivable discount programs from its continuing operations:

  
Nine Months Ended
December 31,
 
  
2014
  
2013
 
Receivables discounted
 
$
198,073,000
  
$
155,739,000
 
Weighted average days
  
337
   
336
 
Annualized weighted average discount rate
  
2.0
%
  
2.3
%
Amount of discount as interest expense
 
$
3,691,000
  
$
3,280,000