FINANCING RECEIVABLES AND OPERATING LEASES (Tables)

12 Months Ended

Mar. 31, 2018

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, 2018	Notes Receivables			Lease-Related Receivables			Total Financing Receivables
Minimum payments	$	62,992		$	65,943		$	128,935
Estimated unguaranteed residual value (1)		-			11,226			11,226
Initial direct costs, net of amortization (2)		375			334			709
Unearned income		-			(8,251	)		(8,251	)
Reserve for credit losses (3)		(486	)		(640	)		(1,126	)
Total, net	$	62,881		$	68,612		$	131,493
Reported as:
Current	$	39,993		$	29,943		$	69,936
Long-term		22,888			38,669			61,557
Total, net	$	62,881		$	68,612		$	131,493

(1) Includes estimated unguaranteed residual values of $6,004 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 $341 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 accounted for as sales under Codification Topic Transfers and Servicing.

(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.”

Future Scheduled Minimum Lease Payments

Future scheduled minimum lease payments for investments in direct financing and sales-type leases as of March 31, 2018 are as follows (in thousands):

Year ending March 31, 2019	$	34,596
2020		18,218
2021		9,764
2022		2,380
2023 and thereafter		985
Total	$	65,943

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):

	March 31, 2018			March 31, 2017
Cost of equipment under operating leases	$	15,683		$	16,725
Accumulated depreciation		(8,729	)		(8,449	)
Investment in operating lease equipment—net (1)	$	6,954		$	8,276

(1) Amounts include estimated unguaranteed residual values of $1,921 thousand and $1,117 thousand as of March 31, 2018 and 2017, respectively.

Future Minimum Rental Payments for Operating Leases

Future scheduled minimum lease rental payments as of March 31, 2018 are as follows (in thousands):

Year ending March 31, 2019	$	5,103
2020		1,638
2021		788
2022		5
2023 and thereafter		-
Total	$	7,534