15.	SEGMENT REPORTING

The Company’s segment information is presented in accordance with a “management approach,” which designates the internal reporting used by the chief operating decision-maker (“CODM”) for deciding how to allocate resources and for assessing performance. Our CODM is our Chief Executive Officer and President. Our CODM conducts our operations through two operating segments, our technology segment and our financing segment. Our technology segment includes sales of information technology products, third-party software, third-party maintenance, advanced professional and managed services and our proprietary software to commercial, state and local governments, and government contractors. Our financing segment consists of the financing of IT equipment, software and related services to commercial, state and local governments, and government contractors. Our CODM uses several measures to allocate resources and assess performance. Our reported measure is earnings before taxes.

Our reportable segment information was as follows (in thousands):

	Year Ended March 31,
	2018							2017						2016
Statement of Operations	Technology		Financing		Total			Technology		Financing		Total		Technology		Financing		Total

Sales of product and services	$	1,364,145	$	-	$	1,364,145		$	1,290,228	$	-	$	1,290,228	$	1,163,337	$	-	$	1,163,337
Financing revenue		-		40,671		40,671			-		34,200		34,200		-		35,091		35,091
Fee and other income		5,387		794		6,181			4,709		252		4,961		5,728		43		5,771
Net sales		1,369,532		41,465		1,410,997			1,294,937		34,452		1,329,389		1,169,065		35,134		1,204,199

Cost of sales, product and services		1,082,245		-		1,082,245			1,025,188		-		1,025,188		931,782		-		931,782
Direct lease costs		-		5,270		5,270			-		4,442		4,442		-		10,360		10,360
Cost of sales		1,082,245		5,270		1,087,515			1,025,188		4,442		1,029,630		931,782		10,360		942,142

Selling, general, and administrative expenses		214,980		13,147		228,127			193,594		11,638		205,232		167,992		10,988		178,980
Depreciation and amortization		9,918		3		9,921			7,243		9		7,252		5,532		16		5,548
Interest and financing costs		-		1,195		1,195			-		1,543		1,543		70		1,708		1,778
Operating expenses		224,898		14,345		239,243			200,837		13,190		214,027		173,594		12,712		186,306

Operating income		62,389		21,850		84,239			68,912		16,820		85,732		63,689		12,062		75,751

Other income and (expense)						(348	)						380						-

Earnings before taxes					$	83,891						$	86,112					$	75,751


Selected Financial Data - Statement of Cash Flow
Depreciation and amortization	$	10,461	$	5,366	$	15,827		$	7,365	$	4,366	$	11,731	$	5,641	$	10,339	$	15,980
Purchases of property, equipment and operating lease equipment	$	5,353	$	2,237	$	7,590		$	3,356	$	6,202	$	9,558	$	2,442	$	12,026	$	14,468


Selected Financial Data - Balance Sheet
Total assets	$	541,009	$	217,695	$	758,704		$	533,560	$	208,160	$	741,720	$	427,580	$	189,100	$	616,680

The geographic information for the years ended March 31, 2018, 2017 and 2016 was as follows (in thousands):

	Year Ended March 31,
	2018		2017		2016

Net sales:
U.S.	$	1,341,449	$	1,293,705	$	1,186,904
Non U.S.		69,548		35,684		17,295
Total	$	1,410,997	$	1,329,389	$	1,204,199

	As of March 31,
	2018		2017
Long-lived tangible assets:
U.S.	$	24,445	$	31,450
Non U.S.		494		1,878
Total	$	24,939	$	33,328

Our long-lived tangible assets include property and equipment-net, operating leases-net, and equipment that has been returned to us at the termination of the lease.

For the year ended March 31, 2018 and 2017, sales to a large technology company were approximately 12% and 13% of net sales, respectively, all of which related to our technology segment. No single customer accounted for more than 10% of net sales for the year ended March 31, 2016.