FINANCING RECEIVABLES AND OPERATING LEASES (Tables)

3 Months Ended

Jun. 30, 2018

FINANCING RECEIVABLES AND OPERATING LEASES [Abstract]

Notes Receivable Net and Investments in Leases

Our financing receivables, net consist of the following (in thousands):

June 30, 2018	Notes Receivables			Lease-Related Receivables			Total Financing Receivables
Minimum payments	$	53,777		$	74,522		$	128,299
Estimated unguaranteed residual value (1)		-			12,031			12,031
Initial direct costs, net of amortization (2)		499			439			938
Unearned income		-			(8,889	)		(8,889	)
Reserve for credit losses (3)		(486	)		(696	)		(1,182	)
Total, net	$	53,790		$	77,407		$	131,197
Reported as:
Current	$	34,408		$	36,211		$	70,619
Long-term		19,382			41,196			60,578
Total, net	$	53,790		$	77,407		$	131,197

(1) Includes estimated unguaranteed residual values of $6,271 thousand for direct financing leases, which have been sold and accounted for as sales.

(2) Initial direct costs are shown net of amortization of $381 thousand.

(3) For details on reserve for credit losses, refer to Note 6, “Reserves for Credit Losses.”

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 sold and accounted for as sales.

(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.”

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):

	June 30,			March 31,
	2018			2018
Cost of equipment under operating leases	$	16,265		$	15,683
Accumulated depreciation		(6,789	)		(8,729	)
Investment in operating lease equipment—net (1)	$	9,476		$	6,954

(1) Includes estimated unguaranteed residual values of $2,467 thousand and $1,921 thousand as of June 30, 2018 and March 31, 2018, respectively.