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INCOME TAXES (Tables) | 12 Months Ended
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Mar. 31, 2023
Income Tax Disclosure [Abstract] |
Schedule of Components of Income Tax Expense (Benefit) | Income tax expense (benefit) attributable to (loss) income from continuing operations consists of (in thousands):
| Year Ended March 31,
| 2023 |  | 2022
Current: |  |  |
Federal | $ | 46 |  |  | $ | 1,358 |
State | 150 |  |  | 44 |
Foreign | 845 |  |  | 134 |
Total current | 1,041 |  |  | 1,536 |
Deferred: |  |  |
Federal | 29 |  |  | (507) |
State | (442) |  |  | 140 |
Foreign | (196) |  |  | — |
Total deferred | (609) |  |  | (367) |
Total | $ | 432 |  |  | $ | 1,169 |
Schedule of Effective Income Tax Rate Reconciliation | Income tax expense attributable to income (loss) from continuing operations differed from the amounts computed by applying the U.S. Federal income tax rate of 21.0% to pretax income (loss) from continuing operations as follows (in thousands):
| Year Ended March 31,
| 2023 |  | 2022
Expected Federal income tax expense (benefit) U.S. statutory rate | $ | (2,384) |  |  | 21.0 | % |  | $ | 2,813 |  |  | 21.0 | %
State income taxes, net of federal benefit | (558) |  |  | 4.9 | % |  | 177 |  |  | 1.3 | %
Permanent Items | 28 |  |  | -0.2 | % |  | (165) |  |  | -1.2 | %
Micro-captive insurance benefit | (274) |  |  | 2.4 | % |  | (233) |  |  | -1.8 | %
Change in valuation allowance | 3,149 |  |  | -27.7 | % |  | (2,251) |  |  | -16.8 | %
Income attributable to minority interest - Contrail | 190 |  |  | -1.7 | % |  | (174) |  |  | -1.3 | %
Write-off Delphax Tech SAS | — |  |  | 0.0 | % |  | 2,225 |  |  | 16.6 | %
PPP Loan Forgiveness | — |  |  | 0.0 | % |  | (1,650) |  |  | -12.3 | %
Other differences, net | 281 |  |  | -2.5 | % |  | 427 |  |  | 3.2 | %
Income tax expense (benefit) | $ | 432 |  |  | -3.8 | % |  | $ | 1,169 |  |  | 8.7 | %
Schedule of Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities were comprised of the following (in thousands):
| 2023 |  | 2022
Net operating loss & attribute carryforwards | $ | 5,968 |  |  | $ | 3,794 |
Unrealized losses on investments | 1,740 |  |  | 1,669 |
Inventory reserve | 851 |  |  | 682 |
Accrued vacation | 421 |  |  | 327 |
Foreign tax credit | 391 |  |  | 263 |
Accounts and notes receivable | 182 |  |  | 235 |
Interest rate swaps | 77 |  |  | 138 |
Investment in partnerships | 1,723 |  |  | 671 |
Lease liabilities | 3,000 |  |  | 1,691 |
Other deferred tax assets | 115 |  |  | 286 |
Total deferred tax assets | 14,468 |  |  | 9,756 |
Bargain purchase gain | (191) |  |  | (447) |
Property and equipment | (1,804) |  |  | (1,532) |
Right-of-use assets | (2,815) |  |  | (1,511) |
Capital gain deferment | (1,799) |  |  | (1,696) |
Foreign intangible assets | (2,159) |  |  | (2,572) |
Other deferred tax liabilities | (110) |  |  | (36) |
Total deferred tax liabilities | (8,878) |  |  | (7,794) |
Net deferred tax assets | $ | 5,590 |  |  | $ | 1,962 |
Less valuation allowance | (8,007) |  |  | (4,774) |
Net deferred tax liabilities | $ | (2,417) |  |  | $ | (2,812) |

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- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319 + Details
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- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319 + Details
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