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Accounts Receivable Discount Programs
 12 Months Ended
Mar. 31, 2024
Accounts Receivable Discount Programs [Abstract]  
Accounts Receivable Discount Programs
11. Accounts Receivable Discount Programs

The Company uses accounts receivable discount programs offered by certain customers and their respective banks. Under these accounts receivable discount 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 accounts receivable discount programs allow the Company to accelerate receipt of payment on customers’ receivables.

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

 
  
Fiscal Years Ended March 31,
  
 
  
2024
    
2023
  
Receivables discounted
  
$
618,012,000
    
$
548,376,000
  
Weighted average days
    
336
      
328
  
Weighted average discount rate
    
6.8
%
    
5.3
%
Amount of discount as interest expense
  
$
39,175,000
    
$
26,432,000