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Accounts Receivable Discount Programs | 12 Months Ended
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Mar. 31, 2020
Accounts Receivable Discount Programs [Abstract] |
Accounts Receivable Discount Programs |
12. | 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 receipt of payment on customers’ receivables. The following is a summary of the Company’s accounts receivable discount programs:
|  | Years Ended March 31, |
|  | 2020 |  |  | 2019 |
Receivables discounted |  | $ | 461,484,000 |  |  | $ | 396,650,000 |
Weighted average days |  |  | 346 |  |  |  | 341 |
Weighted average discount rate |  |  | 3.3 | % |  |  | 4.2 | %
Amount of discount as interest expense |  | $ | 14,780,000 |  |  | $ | 15,867,000 |

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- Definition Describes the nature of the entity's non-recourse receivable discount programs with its customers and their respective banks. + References No definition available. + Details
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