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ALLOWANCE FOR CREDIT LOSSES (Tables)
 3 Months Ended
Jun. 30, 2024
ALLOWANCE FOR CREDIT LOSSES [Abstract]  
Activity in Reserves for Credit Losses
The following table provides the activity in our allowance for credit losses for the three months ended June 30, 2024, and 2023 (in thousands):

   
Accounts Receivable
    
Notes
Receivable
    
Lease
Receivables
    
Total
  
Balance as of April 1, 2024
  
$
2,687
    
$
1,056
    
$
1,435
    
$
5,178
  
Provision for credit losses
    
90
      
32
      
(26
)
    
96
  
Write-offs and other
    
(13
)
    
-
      
-
      
(13
)
Balance as of June 30, 2024
  
$
2,764
    
$
1,088
    
$
1,409
    
$
5,261
  

   
Accounts
Receivable
    
Notes
Receivable
    
Lease
Receivables
    
Total
  
Balance as of April 1, 2023
  
$
2,572
    
$
801
    
$
981
    
$
4,354
  
Provision for credit losses
    
629
      
(106
)
    
(45
)
  

478
  
Write-offs and other
    
(13
)
    
1
      
-
    

(12
)
Balance as of June 30, 2023
  
$
3,188
    
$
696
    
$
936
    
$
4,820
  
Amortized Cost Basis of Financing Receivables by Credit Quality Rating and Credit Origination Year
The following table provides the amortized cost basis of our financing receivables by CQR and by credit origination year as of June 30, 2024 (in thousands):

   
Amortized cost basis by origination year ending March 31,
                    
 
2025
    
2024
    
2023
    
2022
    
2021
    
2020 and
prior
    
Total
    
Transfers
(2)
    
Net credit
exposure
  
                                                       
Notes receivable:
                                                      
High CQR
  
$
25,158
    
$
48,541
    
$
14,290
    
$
1,858
    
$
1,786
    
$
24
    
$
91,657
    
$
(26,831
)
  
$
64,826
  
Average CQR
    
2,490
      
14,551
      
2,895
      
148
      
28
      
-
      
20,112
      
(3,302
)
    
16,810
  
Total
  
$
27,648
    
$
63,092
    
$
17,185
    
$
2,006
    
$
1,814
    
$
24
    
$
111,769
    
$
(30,133
)
  
$
81,636
  
                                                                         
Lease receivables:
                                                                        
High CQR
  
$
15,363
    
$
18,528
    
$
8,750
    
$
1,218
    
$
946
    
$
84
    
$
44,889
    
$
(2,931
)
  
$
41,958
  
Average CQR
    
6,298
      
14,816
      
8,373
      
1,732
      
164
      
2
      
31,385
      
(4,292
)
    
27,093
  
Total
  
$
21,661
    
$
33,344
    
$
17,123
    
$
2,950
    
$
1,110
    
$
86
    
$
76,274
    
$
(7,223
)
  
$
69,051
  
                                                                         
Total amortized cost (1)
  
$
49,309
    
$
96,436
    
$
34,308
    
$
4,956
    
$
2,924
    
$
110
    
$
188,043
    
$
(37,356
)
  
$
150,687
  

  (1)
Unguaranteed residual values of $3,554 thousand that we retained after selling the related lease receivable excluded from amortized cost.
 
(2)
Transfers consist of receivables that have been transferred to third-party financial institutions on a non-recourse basis.

The following table provides the amortized cost basis of our financing receivables by CQR and by credit origination year as of March 31, 2024 (in thousands):

   
Amortized cost basis by origination year ending March 31,
                    

 
2024
    
2023
    
2022
    
2021
    
2020
    
2019 and
prior
    
Total
   
Transfers
(2)
   
Net credit
exposure
  
                                                       
Notes receivable:
                                                      
High CQR
  
$
63,934
    
$
15,821
    
$
3,440
    
$
2,656
    
$
30
    
$
-
    
$
85,881
    
$
(25,683
)
   $
60,198  
Average CQR
    
18,715
      
3,260
      
302
      
52
      
-
      
-
      
22,329
      
(3,476
)
     18,853  
Total
  
$
82,649
    
$
19,081
    
$
3,742
    
$
2,708
    
$
30
    
$
-
    
$
108,210
    
$
(29,159
)
   $
79,051  
                                                                         
Lease receivables:
                                                                        
High CQR
  
$
22,123
    
$
9,457
    
$
1,341
    
$
1,151
    
$
100
    
$
7
    
$
34,179
    
$
(1,128
)
   $
33,051  
Average CQR
    
22,861
      
9,548
      
2,133
      
259
      
2
      
-
      
34,803
      
(5,436
)
     29,367  
Total
  
$
44,984
    
$
19,005
    
$
3,474
    
$
1,410
    
$
102
    
$
7
    
$
68,982
    
$
(6,564
)
   $
62,418  
                                                                         
Total amortized cost (1)
  
$
127,633
    
$
38,086
    
$
7,216
    
$
4,118
    
$
132
    
$
7
    
$
177,192
    
$
(35,723
)
   $
141,469  

  (1)
Unguaranteed residual values of $3,718 thousand that we retained after selling the related lease receivable excluded from amortized cost.
 
(2)
Transfers consist of receivables that have been transferred to third-party financial institutions on a non-recourse basis.
Aging Analysis of Financing Receivables
The following table provides an aging analysis of our financing receivables as of June 30, 2024 (in thousands):


  
31-60
Days Past
Due
   
61-90
Days Past
Due
   
> 90
Days Past
Due
    
Total
Past Due
    
Current
    
Total
Billed
    
Unbilled
    
Amortized
Cost
  
Notes receivable
  
$
174
    
$
823
    
$
1,153
    
$
2,150
    
$
7,302
    
$
9,452
    
$
102,317
    
$
111,769
  
Lease receivables
    
281
      
522
      
1,852
      
2,655
      
5,191
      
7,846
      
68,428
      
76,274
  
Total
  
$
455
    
$
1,345
    
$
3,005
    
$
4,805
    
$
12,493
    
$
17,298
    
$
170,745
    
$
188,043
  

The following table provides an aging analysis of our financing receivables as of March 31, 2024 (in thousands):

 
31-60
Days Past
Due
    
61-90
Days Past
Due
    
> 90
Days Past
Due
    
Total
Past Due
    
Current
    
Total
Billed
    
Unbilled
    
Amortized
Cost
  
Notes receivable
  
$
1,251
    
$
334
    
$
2,484
    
$
4,069
    
$
9,337
    
$
13,406
    
$
94,804
    
$
108,210
  
Lease receivables
    
1,174
      
284
      
2,213
      
3,671
      
4,691
      
8,362
      
60,620
      
68,982
  
Total
  
$
2,425
    
$
618
    
$
4,697
    
$
7,740
    
$
14,028
    
$
21,768
    
$
155,424
    
$
177,192