FINANCING RECEIVABLES AND OPERATING LEASES (Tables)

12 Months Ended

Mar. 31, 2017

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):

March 31, 2017	Notes Receivables			Lease-Related Receivables			Total Financing Receivables
Minimum payments	$	48,524		$	57,872		$	106,396
Estimated unguaranteed residual value (1)		-			18,273			18,273
Initial direct costs, net of amortization (2)		279			341			620
Unearned income		-			(5,913	)		(5,913	)
Reserve for credit losses (3)		(3,434	)		(679	)		(4,113	)
Total, net	$	45,369		$	69,894		$	115,263
Reported as:
Current	$	23,780		$	27,876		$	51,656
Long-term		21,589			42,018			63,607
Total, net	$	45,369		$	69,894		$	115,263

(1) Includes estimated unguaranteed residual values of $12,677 thousand for direct financing leases, which have been accounted for as sales under Codification Topic Transfers and Servicing.

(2) Initial direct costs are shown net of amortization of $510 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 accounted for as sales under Codification Topic Transfers and Servicing.

(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.”

Future Scheduled Minimum Lease Payments

Future scheduled minimum lease payments for investments in direct financing and sales-type leases as of March 31, 2017 are as follows (in thousands):

Year ending March 31, 2018	$	30,590
2019		17,172
2020		7,228
2021		2,364
2022 and thereafter		518
Total	$	57,872

Investment in Operating Lease Equipment - Net

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

	March 31, 2017			March 31, 2016
Cost of equipment under operating leases	$	16,725		$	36,635
Accumulated depreciation		(8,449	)		(18,897	)
Investment in operating lease equipment—net (1)	$	8,276		$	17,738

(1) Amounts include estimated unguaranteed residual values of $1,117 thousand and $3,417 thousand as of March 31, 2017 and 2016, respectively.

Future Minimum Rental Payments for Operating Leases

Future scheduled minimum lease rental payments as of March 31, 2017 are as follows (in thousands):

Year ending March 31, 2018	$	2,652
2019		1,492
2020		115
2021		3
2022 and thereafter		-
Total	$	4,262