FINANCING RECEIVABLES AND OPERATING LEASES (Tables)

9 Months Ended

Dec. 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):

December 31, 2016	Notes Receivables			Lease-Related Receivables			Total Financing Receivables
Minimum payments	$	53,167		$	71,343		$	124,510
Estimated unguaranteed residual value (1)		-			18,069			18,069
Initial direct costs, net of amortization (2)		465			518			983
Unearned income		-			(7,017	)		(7,017	)
Reserve for credit losses (3)		(3,508	)		(778	)		(4,286	)
Total, net	$	50,124		$	82,135		$	132,259
Reported as:
Current	$	32,269		$	33,676		$	65,945
Long-term		17,855			48,459			66,314
Total, net	$	50,124		$	82,135		$	132,259

(1) Includes estimated unguaranteed residual values of $11,932 thousand for direct financing leases, which have been sold and accounted for as sales.

(2) Initial direct costs are shown net of amortization of $665 thousand.

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

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 sold and accounted for as sales.

(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.”

Investment in Operating Lease Equipment - Net

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

	December 31, 2016			March 31, 2016
Cost of equipment under operating leases	$	17,062		$	36,635
Accumulated depreciation		(8,886	)		(18,897	)
Investment in operating lease equipment—net (1)	$	8,176		$	17,738

(1) These totals include estimated unguaranteed residual values of $928 thousand and $3,417 thousand as of December 31, 2016 and March 31, 2016, respectively.