ALLOWANCE FOR CREDIT LOSSES (Tables)

12 Months Ended

Mar. 31, 2025

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 years ended March 31, 2025, 2024, and 2023 (in thousands):

	Accounts Receivable			Notes Receivable		Lease Receivables			Total
Balance as of March 31, 2022	$	2,411		$	708	$	681		$	3,800
Provision for credit losses		273			93		300			666
Write-offs and other		(112	)		-		-			(112	)
Balance as of March 31, 2023		2,572			801		981			4,354
Provision for credit losses		477			255		472			1,204
Write-offs and other		(362	)		-		(18	)		(380	)
Balance as of March 31, 2024		2,687			1,056		1,435			5,178
Provision for credit losses		1,805			682		494			2,981
Write-offs and other		(418	)		1		16			(401	)
Balance as of March 31, 2025	$	4,074		$	1,739	$	1,945		$	7,758

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 March 31, 2025 (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	$	158,257	$	11,929	$	4,821	$	887	$	1,116	$	-	$	177,010	$	(19,512	)	$	157,498
Average CQR		38,647		3,450		1,556		37		2		-		43,692		(3,809	)		39,883
Low CQR		-		58		909		-		-		-		967		-			967
Total	$	196,904	$	15,437	$	7,286	$	924	$	1,118	$	-	$	221,669	$	(23,321	)	$	198,348
Lease receivables:
High CQR	$	18,095	$	9,683	$	4,926	$	549	$	189	$	201	$	33,643	$	(8,682	)	$	24,961
Average CQR		21,304		9,829		4,343		598		17		-		36,091		(6,308	)		29,783
Low CQR		-		354		579				325		-		1,258		-			1,258
Total	$	39,399	$	19,866	$	9,848	$	1,147	$	531	$	201	$	70,992	$	(14,990	)	$	56,002
Total amortized cost (1)	$	236,303	$	35,303	$	17,134	$	2,071	$	1,649	$	201	$	292,661	$	(38,311	)	$	254,350

(1)

Excludes unguaranteed residual values of $5,929 thousand that we retained after selling the related lease receivable.

(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
Low CQR		-		-		-		-		-		-		-		-			-
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
Low CQR		-		-		-		-		-		-		-		-			-
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)

Excludes unguaranteed residual values of $3,718 thousand that we retained after selling the related lease receivable.

(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 March 31, 2025 (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		3888	$	419	$	1,369	$	5,676	$	15,946	$	21,622	$	200,047	$	221,669
Lease receivables		1,191		579		1,610		3,380		5,421		8,801		62,191		70,992
Total	$	5,079	$	998	$	2,979	$	9,056	$	21,367	$	30,423	$	262,238	$	292,661

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		3671		4,691		8,362		60,620		68,982
Total	$	2,425	$	618	$	4,697	$	7,740	$	14,028	$	21,768	$	155,424	$	177,192