Securitized Receivables

3 Months Ended

Jun. 30, 2020

Transfers and Servicing [Abstract]

Securitized Receivables

Securitized ReceivablesThe Company sells trade receivables to unaffiliated financial institutions under three accounts receivable securitization facilities. Under the first facility, the Company continuously sells a designated pool of trade receivables to a special purpose entity, which sells 100% of the receivables to an unaffiliated financial institution. As of June 30, 2020, the investment limit under the first facility was $125,000 of trade receivables. Under the second and third facilities, the Company offers receivables for sale to unaffiliated financial institutions, which are then subject to acceptance by the unaffiliated financial institutions. As of

June 30, 2020, the investment limit under the second facility was $125,000 of trade receivables. As of June 30, 2020, the investment limit under the third facility was variable based on qualifying sales.

As the servicer of these facilities, the Company may receive funds that are due to the unaffiliated financial institutions, which are net settled on the next settlement date. As a result of the net settlement, trade and other receivables, net in the condensed consolidated balance sheets has been reduced by $5,663, $6,348, and $9,586 as of June 30, 2020 and 2019, and March 31, 2020, respectively.

The following summarizes the accounts receivable securitization information:

	June 30,				March 31,
	2020		2019		2020
Receivables outstanding in facility	$	60,324	$	78,258	$	135,439
Beneficial interests	14,949		14,648		27,021
Servicing liability	7		—		43

	Three Months Ended June 30,
	2020		2019
Cash proceeds for the period ended:
Cash purchase price	$	108,007	$	103,517
Deferred purchase price	53,949		72,266
Service fees	131		137
Total	$	162,087	$	175,920