XML 38 R18.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Transactions with Affiliates
 12 Months Ended
Mar. 31, 2024
Related Party Transactions [Abstract]  
Transactions with Affiliates Transactions with Affiliates
The following table summarizes our related party transactions for the periods indicated:
Year Ended March 31,
202420232022
(in thousands)
Purchases from equity method investees$1,281 $1,872 $1,091 
Purchases from entities affiliated with management$100 $— $1,489 

Accounts receivable from affiliates consist of the following at the dates indicated:
March 31,
20242023
(in thousands)
Equity method investees$1,501 $673 
NGL Energy Holdings LLC (1)— 11,688 
Entities affiliated with management— 1 
Total$1,501 $12,362 
(1)    The outstanding receivable balance, which related to legal costs associated with the LCT legal matter (see Note 8), was written off, as it was determined that the Partnership should bear the financial responsibility for the litigation.

Accounts payable to affiliates consist of the following at the dates indicated:
March 31,
20242023
(in thousands)
Equity method investees$36 $64 
Entities affiliated with management1 1 
Total$37 $65 

Other Related Party Transactions

Guarantee of Outstanding Loan for KAIR2014 LLC (“KAIR2014”)

In connection with the purchase of our 50% interest in an aircraft company, KAIR2014, we executed a joint and several guarantee for the benefit of the lender for KAIR2014’s outstanding loan. The other owner of KAIR2014, our Chief Executive Officer, H. Michael Krimbill, is a party to a similar guarantee. This guarantee obligates us for the payment and performance of KAIR2014 with respect to the repayment of the loan, which was set to mature in September 2023. On September 1, 2023, KAIR2014 entered into an agreement to extend the maturity date of the loan to September 1, 2028. Accordingly, we and H. Michael Krimbill executed new joint and several guarantees for the benefit of the lender for KAIR2014’s outstanding loan. In December 2023, KAIR2014 sold an airplane for total consideration of approximately $4.7 million. A portion of the proceeds was used to repay the outstanding loan balance of approximately $2.1 million, resulting in the release of our guarantee.