FINANCING RECEIVABLES AND OPERATING LEASES (Tables)

9 Months Ended

Dec. 31, 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):

December 31, 2017	Notes Receivables			Lease-Related Receivables			Total Financing Receivables
Minimum payments	$	59,444		$	73,022		$	132,466
Estimated unguaranteed residual value (1)		-			13,358			13,358
Initial direct costs, net of amortization (2)		369			321			690
Unearned income		-			(6,034	)		(6,034	)
Reserve for credit losses (3)		(451	)		(621	)		(1,072	)
Total, net	$	59,362		$	80,046		$	139,408
Reported as:
Current	$	33,109		$	41,489		$	74,598
Long-term		26,253			38,557			64,810
Total, net	$	59,362		$	80,046		$	139,408

(1) Includes estimated unguaranteed residual values of $7,753 thousand for direct financing leases, which have been sold and accounted for as sales.

(2) Initial direct costs are shown net of amortization of $334 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

Operating leases—net represents leases that do not qualify as direct financing leases. The components of the operating leases—net are as follows (in thousands):

	December 31, 2017			March 31, 2017
Cost of equipment under operating leases	$	16,804		$	16,725
Accumulated depreciation		(9,039	)		(8,449	)
Investment in operating lease equipment—net (1)	$	7,765		$	8,276

(1) These totals include estimated unguaranteed residual values of $2,077 thousand and $1,117 thousand as of December 31, 2017 and March 31, 2017, respectively.