FINANCING RECEIVABLES AND OPERATING LEASES (Tables)

12 Months Ended

Mar. 31, 2016

FINANCING RECEIVABLES AND OPERATING LEASES [Abstract]

Components of Notes Receivable Net and Investments in Leases

Our financing receivables, net consist of the following (in thousands):

March 31, 2016	Notes Receivables			Lease-Related Receivables			Total Financing Receivables
Minimum payments	$	44,442		$	66,303		$	110,745
Estimated unguaranteed residual value (1)		-			12,693			12,693
Initial direct costs, net of amortization (2)		312			475			787
Unearned income		-			(5,543	)		(5,543	)
Reserve for credit losses (3)		(3,381	)		(685	)		(4,066	)
Total, net	$	41,373		$	73,243		$	114,616
Reported as:
Current	$	24,962		$	31,486		$	56,448
Long-term		16,411			41,757			58,168
Total, net	$	41,373		$	73,243		$	114,616

(1) Includes estimated unguaranteed residual values of $6,722 thousand for direct financing leases, which have been accounted for as sales under Codification Topic Transfers and Servicing.

(2) Initial direct costs are shown net of amortization of $612 thousand.

(3) For details on reserve for credit losses, refer to Note 5, “Reserves for Credit Losses.”

March 31, 2015	Notes Receivables			Lease-Related Receivables			Total Financing Receivables
Minimum payments	$	59,943		$	66,415		$	126,358
Estimated unguaranteed residual value (1)		-			8,376			8,376
Initial direct costs, net of amortization (2)		429			495			924
Unearned income		-			(5,233	)		(5,233	)
Reserve for credit losses (3)		(3,573	)		(881	)		(4,454	)
Total, net	$	56,799		$	69,172		$	125,971
Reported as:
Current	$	33,484		$	33,425		$	66,909
Long-term		23,315			35,747			59,062
Total, net	$	56,799		$	69,172		$	125,971

(1) Includes estimated unguaranteed residual values of $3,977 thousand for direct financing leases which have been accounted for as sales under Codification Topic Transfers and Servicing.

(2) Initial direct costs are shown net of amortization of $647 thousand.

(3) For details on reserve for credit losses, refer to Note 5, “Reserves for Credit Losses.”

Future Scheduled Minimum Lease Payments

Future scheduled minimum lease payments for investments in direct financing and sales-type leases as of March 31, 2016 are as follows (in thousands):

Year ending March 31, 2017	$	34,566
2018		19,247
2019		10,673
2020		1,582
2021 and thereafter		235
Total	$	66,303

Investment in Operating Lease Equipment - Net

The components of the operating leases—net are as follows (in thousands):

	March 31, 2016			March 31, 2015
Cost of equipment under operating leases	$	36,635		$	36,283
Accumulated depreciation		(18,897	)		(18,354	)
Investment in operating lease equipment—net (1)	$	17,738		$	17,929

(1) Amounts include estimated unguaranteed residual values of $3,417 thousand and $4,340 thousand as of March 31, 2016 and 2015, respectively.

Future Minimum Rental Payments for Operating Leases

Future scheduled minimum lease rental payments as of March 31, 2016 are as follows (in thousands):

Year ending March 31, 2017	$	8,293
2018		5,935
2019		2,501
2020		1,025
2021 and thereafter		755
Total	$	18,509