Fair Value Measurements (Tables)

3 Months Ended

Jun. 30, 2020

The following summarizes the financial assets and liabilities measured at fair value on a recurring basis:


	June 30, 2020											June 30, 2019										March 31, 2020
							Total							Total							Total
	Level 2		Level 3		at Fair Value			Level 2		Level 3		at Fair Value			Level 2		Level 3		at Fair Value
Financial Assets:
Derivative financial instruments	$	—	$	—	$	—		$	3	$	—	$	3		$	—	$	—	$	—
Securitized beneficial interests	—		14,949		14,949			—		14,648		14,648			—		27,021		27,021
Total assets	$	—	$	14,949	$	14,949		$	3	$	14,648	$	14,651		$	—	$	27,021	$	27,021
Financial Liabilities:
Long-term debt	$	318,060	$	3,804	$	321,864		$	814,766	$	623	$	815,389		$	358,782	$	848	$	359,630
Guarantees	—		3,312		3,312			—		3,136		3,136			—		2,791		2,791
Total liabilities	$	318,060	$	7,116	$	325,176		$	814,766	$	3,759	$	818,525		$	358,782	$	3,639	$	362,421

The following summarizes the reconciliation of changes in Level 3 instruments measured on a recurring basis:


	Three Months Ended June 30, 2020										Three Months Ended June 30, 2019
	Securitized Beneficial Interests		Long-Term Debt		Guarantees		Securitized Beneficial Interests		Long-Term Debt		Guarantees
Beginning balance	$	27,021	$	848	$	2,791	$	40,332	$	703	$	3,714
Issuances of sales of receivables/guarantees	47,120		—		647		46,882		—		293
Settlements	(57,902)		(100)		(117)		(71,623)		(83)		(879)
Additions	—		3,056		—		—		3		—
(Losses) gains recognized in earnings	(1,290)		—		(9)		(943)		—		8
Ending balance	$	14,949	$	3,804	$	3,312	$	14,648	$	623	$	3,136