XML 23 R12.htm IDEA: XBRL DOCUMENT

Contract Assets

6 Months Ended

Sep. 30, 2022

5. Contract Assets

During the three months ended September 30, 2022 and 2021, the Company reduced the carrying value of Remanufactured Cores held at customers’ locations by $1,269,000 and $1,687,000, respectively. During the six months ended September 30, 2022 and 2021, the Company reduced the carrying value of Remanufactured Cores held at customers’ locations by $1,841,000 and $2,671,000, respectively.

Contract assets are comprised of the following:

	September 30, 2022		March 31, 2022
Short-term contract assets
Cores expected to be returned by customers	$	22,264,000	$	15,778,000
Core premiums paid to customers		10,062,000		10,621,000
Upfront payments to customers		958,000		517,000
Finished goods premiums paid to customers		577,000		584,000
Total short-term contract assets	$	33,861,000	$	27,500,000

Remanufactured cores held at customers’ locations	$	262,342,000	$	258,376,000
Core premiums paid to customers		42,495,000		43,294,000
Long-term core inventory deposits		5,569,000		5,569,000
Finished goods premiums paid to customers		2,714,000		2,806,000
Upfront payments to customers		68,000		210,000
Total long-term contract assets	$	313,188,000	$	310,255,000