FINANCING RECEIVABLES AND OPERATING LEASES (Tables)

6 Months Ended

Sep. 30, 2017

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):

September 30, 2017	Notes Receivables			Lease-Related Receivables			Total Financing Receivables
Minimum payments	$	46,479		$	67,693		$	114,172
Estimated unguaranteed residual value (1)		-			15,313			15,313
Initial direct costs, net of amortization (2)		304			341			645
Unearned income		-			(5,199	)		(5,199	)
Reserve for credit losses (3)		(441	)		(648	)		(1,089	)
Total, net	$	46,342		$	77,500		$	123,842
Reported as:
Current	$	27,238		$	42,694		$	69,932
Long-term		19,104			34,806			53,910
Total, net	$	46,342		$	77,500		$	123,842

(1) Includes estimated unguaranteed residual values of $9,772 thousand for direct financing leases, which have been sold and accounted for as sales.

(2) Initial direct costs are shown net of amortization of $375 thousand.

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

March 31, 2017	Notes Receivables			Lease-Related Receivables			Total Financing Receivables
Minimum payments	$	48,524		$	57,872		$	106,396
Estimated unguaranteed residual value (1)		-			18,273			18,273
Initial direct costs, net of amortization (2)		279			341			620
Unearned income		-			(5,913	)		(5,913	)
Reserve for credit losses (3)		(3,434	)		(679	)		(4,113	)
Total, net	$	45,369		$	69,894		$	115,263
Reported as:
Current	$	23,780		$	27,876		$	51,656
Long-term		21,589			42,018			63,607
Total, net	$	45,369		$	69,894		$	115,263

(1) Includes estimated unguaranteed residual values of $12,677 thousand for direct financing leases which have been sold and accounted for as sales.

(2) Initial direct costs are shown net of amortization of $510 thousand.

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

Investment in Operating Lease Equipment - Net

	September 30, 2017			March 31, 2017
Cost of equipment under operating leases	$	16,886		$	16,725
Accumulated depreciation		(8,949	)		(8,449	)
Investment in operating lease equipment—net (1)	$	7,937		$	8,276

(1) These totals include estimated unguaranteed residual values of $2,071 thousand and $1,117 thousand as of September 30, 2017 and March 31, 2017, respectively.