XML 34 R20.htm IDEA: XBRL DOCUMENT v3.5.0.1
Accounts Receivable Discount Programs
12 Months Ended
Mar. 31, 2016
Accounts Receivable Discount Programs [Abstract]  
Accounts Receivable Discount Programs
12. Accounts Receivable Discount Programs

The Company uses receivable discount programs with certain major 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 programs allow the Company to accelerate collection of customers’ receivables.

The following is a summary of the Company’s accounts receivable discount programs:

  
Years Ended March 31,
 
  
2016
  
2015
 
       
Receivables discounted
 
$
331,176,000
  
$
260,973,000
 
Weighted average days
  
341
   
336
 
Weighted average discount rate
  
2.3
%
  
2.0
%
Amount of discount as interest expense
 
$
7,257,000
  
$
4,917,000