XML 44 R32.htm IDEA: XBRL DOCUMENT

ALLOWANCE FOR CREDIT LOSSES (Tables)

12 Months Ended

Mar. 31, 2021

ALLOWANCE FOR CREDIT LOSSES [Abstract]

The following table provides the activity in our allowance for credit losses for the years ended March 31, 2021, 2020 and 2019 (in thousands):

	Accounts Receivable			Notes Receivable			Lease Receivables			Total
Balance as of March 31, 2018	$	1,538		$	486		$	640		$	2,664
Provision for credit losses		195			250			(110	)		335
Write-offs and other		(154	)		(231	)		-			(385	)
Balance as of March 31, 2019		1,579			505			530			2,614
Provision for credit losses		627			293			84			1,004
Write-offs and other		(425	)		-			(4	)		(429	)
Balance as of March 31, 2020		1,781			798			610			3,189
Provision for credit losses		367			503			566			1,436
Write-offs and other		(84	)		(89	)		(5	)		(178	)
Balance as of March 31, 2021	$	2,064		$	1,212		$	1,171		$	4,447

Allowance for Credit Losses and Minimum Payments Associated with Notes Receivable and Lease Related Receivables Disaggregated Based on Impairment Method

The following table provides our allowance for credit losses and minimum payments associated with our notes receivables and lease-related receivables disaggregated based on our impairment method as of March 31, 2020 (in thousands):

	March 31, 2020
	Notes Receivable		Lease- Receivables
Allowance for credit losses:
Ending balance: collectively evaluated for impairment	$	736	$	610
Ending balance: individually evaluated for impairment		62		-
Ending balance	$	798	$	610

Minimum payments:
Ending balance: collectively evaluated for impairment	$	55,005	$	69,492
Ending balance: individually evaluated for impairment		412		-
Ending balance	$	55,417	$	69,492

Amortized Cost Basis of Financing Receivables by CQR and Credit Origination Year

The following table provides the amortized cost basis of our financing receivables by CQR and by credit origination year as of March 31, 2021 (in thousands):

	Amortized cost basis by origination year ending March 31,
	2021		2020		2019		2018		2017		Total		Transfers (2)			Net credit exposure

Notes receivable:

High CQR	$	93,793	$	6,250	$	769	$	771	$	19	$	101,602	$	(63,471	)	$	38,131
Average CQR		7,689		2,468		550		8		-		10,715		(2,896	)		7,819
Low CQR		-		-		324		-		-		324		-			324
Total	$	101,482	$	8,718	$	1,643	$	779	$	19	$	112,641	$	(66,367	)	$	46,274

Lease receivables:

High CQR	$	28,898	$	5,885	$	1,798	$	463	$	125	$	37,169	$	(7,468	)	$	29,701
Average CQR		23,445		3,482		1,017		270		40		28,254		(4,592	)		23,662
Low CQR		-		-		-		-		-		-		-			-
Total	$	52,343	$	9,367	$	2,815	$	733	$	165	$	65,423	$	(12,060	)	$	53,363

Total amortized cost (1)	$	153,825	$	18,085	$	4,458	$	1,512	$	184	$	178,064	$	(78,427	)	$	99,637

(1)	Unguaranteed residual values of $9,453 thousand that we retained after selling the related lease receivable and initial direct costs of notes receivable of $425 thousand are excluded from amortized cost.

(2)	Transfers consist of receivables that have been transferred to third-party financial institutions on a non-recourse basis and receivables that are in the process of being transferred to third-party financial institutions.

Aging Analysis of Financing Receivables

The following table provides an aging analysis of our financing receivables as of March 31, 2021 (in thousands):

	31-60 Days Past Due		61-90 Days Past Due		> 90 Days Past Due		Total Past Due		Current		Total Billed		Unbilled		Amortized Cost
Notes receivable	$	648	$	910	$	673	$	2,231	$	3,240	$	5,471	$	107,170	$	112,641
Lease receivables		804		132		643		1,579		2,566		4,145		61,278		65,423
Total	$	1,452	$	1,042	$	1,316	$	3,810	$	5,806	$	9,616	$	168,448	$	178,064

Aging Analysis of Financing Receivables by CQR

The following table provides an aging analysis of our lease receivables by CQR as of March 31, 2020 (in thousands):

	31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Current		Unbilled Minimum Lease Payments		Total Minimum Lease Payments		Unearned Income			Non- Recourse Notes Payable			Net Credit Exposure

High CQR	$	951	$	105	$	922	$	1,978	$	1,181	$	33,581	$	36,740	$	(4,766	)	$	(19,823	)	$	12,151
Average CQR		46		107		112		265		1,106		31,381		32,752		(3,646	)		(18,693	)		10,413
Low CQR		-		-		-		-		-		-		-		-			-			-
Total	$	997	$	212	$	1,034	$	2,243	$	2,287	$	64,962	$	69,492	$	(8,412	)	$	(38,516	)	$	22,564

The following table provides an aging analysis of our notes receivable by CQR as of March 31, 2020 (in thousands):

	31-60 Days Past Due		61-90 Days Past Due		Greater than 90 Days Past Due		Total Past Due		Current		Unbilled Notes Receivable		Total Notes Receivable		Non- Recourse Notes Payable			Net Credit Exposure

High CQR	$	1,332	$	2	$	280	$	1,614	$	2,878	$	29,057	$	33,549	$	(18,341	)	$	15,208
Average CQR		140		44		142		326		1,135		19,995		21,456		(16,636	)		4,820
Low CQR		63		-		152		215		-		197		412		-			412
Total	$	1,535	$	46	$	574	$	2,155	$	4,013	$	49,249	$	55,417	$	(34,977	)	$	20,440