FINANCING RECEIVABLES AND OPERATING LEASES (Tables)

6 Months Ended

Sep. 30, 2016

FINANCING RECEIVABLES AND OPERATING LEASES [Abstract]

Components of Notes Receivable Net and Investments in Leases

Our financing receivables, net consist of the following (in thousands):

September 30, 2016	Notes Receivables			Lease-Related Receivables			Total Financing Receivables
Minimum payments	$	53,930		$	81,397		$	135,327
Estimated unguaranteed residual value (1)		-			18,603			18,603
Initial direct costs, net of amortization (2)		407			546			953
Unearned income		-			(6,627	)		(6,627	)
Reserve for credit losses (3)		(3,557	)		(958	)		(4,515	)
Total, net	$	50,780		$	92,961		$	143,741
Reported as:
Current	$	32,203		$	46,413		$	78,616
Long-term		18,577			46,548			65,125
Total, net	$	50,780		$	92,961		$	143,741

(1) Includes estimated unguaranteed residual values of $9,958 thousand for direct financing leases, which have been sold and accounted for as sales.

(2) Initial direct costs are shown net of amortization of $639 thousand.

(3) For details on reserve for credit losses, refer to Note 5, “Reserves for Credit Losses.”

March 31, 2016	Notes Receivables			Lease-Related Receivables			Total Financing Receivables
Minimum payments	$	44,442		$	66,303		$	110,745
Estimated unguaranteed residual value (1)		-			12,693			12,693
Initial direct costs, net of amortization (2)		312			475			787
Unearned income		-			(5,543	)		(5,543	)
Reserve for credit losses (3)		(3,381	)		(685	)		(4,066	)
Total, net	$	41,373		$	73,243		$	114,616
Reported as:
Current	$	24,962		$	31,486		$	56,448
Long-term		16,411			41,757			58,168
Total, net	$	41,373		$	73,243		$	114,616

(1) Includes estimated unguaranteed residual values of $6,722 thousand for direct financing leases which have been sold and accounted for as sales.

(2) Initial direct costs are shown net of amortization of $612 thousand.

(3) For details on reserve for credit losses, refer to Note 5, “Reserves for Credit Losses.”

Investment in Operating Lease Equipment - Net

The components of the operating leases—net are as follows (in thousands):

	September 30, 2016			March 31, 2016
Cost of equipment under operating leases	$	16,844		$	36,635
Accumulated depreciation		(9,863	)		(18,897	)
Investment in operating lease equipment—net (1)	$	6,981		$	17,738

(1) These totals include estimated unguaranteed residual values of $1,171 thousand and $3,417 thousand as of September 30, 2016 and March 31, 2016, respectively.