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Fair Value Disclosures (Tables)
9 Months Ended
Dec. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of financial instruments not measured at fair value interest rate was a variable rate based on SOFR pricing options.

 

 

 

 

(In thousands)

 

 

 

Fair Value Measurement Using

 

 

 

 

 

 

 

Description

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Fair
Value

 

 

Carrying
Value

 

Cash

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

$

1,219

 

 

$

-

 

 

$

-

 

 

$

1,219

 

 

$

1,219

 

March 31, 2023

 

$

454

 

 

$

-

 

 

$

-

 

 

$

454

 

 

$

454

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

$

6,598

 

 

$

-

 

 

$

-

 

 

$

6,598

 

 

$

6,598

 

March 31, 2023

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

Finance receivables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

$

-

 

 

$

-

 

 

$

50,306

 

 

$

50,306

 

 

$

50,306

 

March 31, 2023

 

$

-

 

 

$

-

 

 

$

105,971

 

 

$

105,971

 

 

$

106,919

 

Repossessed assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

$

-

 

 

$

-

 

 

$

395

 

 

$

395

 

 

$

395

 

March 31, 2023

 

$

-

 

 

$

-

 

 

$

1,491

 

 

$

1,491

 

 

$

1,491

 

Credit Facility:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

 

$

-

 

March 31, 2023

 

$

-

 

 

$

-

 

 

$

29,100

 

 

$

29,100

 

 

$

29,100

 

Schedule of fair value measurement inputs and valuation techniques

Level 3 Assets with Significant Unobservable Inputs

 

Fair Value

 

 

Valuation Technique

 

Significant Unobservable Inputs

 

Range

 

Weighted Average (1)

Non-recurring fair value

 

 

 

 

 

 

 

 

 

 

 

Finance receivables held for sale

 

$

50,306

 

 

Discounted Cash Flows

 

Discount Rate

 

16.4% - 17.6%

 

17.3%

Repossessed assets held for sale

 

 

395

 

 

Discounted Cash Flows

 

Discount Rate

 

16.4% - 17.6%

 

17.3%

 

(1)

Weighted averages are determined by the relative fair value of the instruments or the relative contribution to the instruments fair value.