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Accounts Receivable Discount Programs (Tables)

6 Months Ended

Sep. 30, 2020

Accounts Receivable Discount Programs [Abstract]

Accounts Receivable Discount Programs

The following is a summary of accounts receivable discount programs:

		Six Months Ended September 30,
		2020				2019
Receivables discounted		$	222,310,000			$	205,882,000
Weighted average days			341				346
Annualized weighted average discount rate			2.3	%			3.6	%
Amount of discount recognized as interest expense		$	4,781,000			$	7,196,000

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- Definition

Tabular disclosure of accounts receivable factored out to banks. Disclosure includes amounts factored, weighted average days, weighted average discount rate and amount of discount.

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