SEGMENT REPORTING (Tables)

12 Months Ended

Mar. 31, 2021

SEGMENT REPORTING [Abstract]

Segment Reporting Information, by Reportable Segment

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

	Year Ended March 31,
	2021						2020						2019
	Technology		Financing		Total		Technology		Financing		Total		Technology		Financing		Total
Sales
Product	$	1,305,789	$	60,369	$	1,366,158	$	1,337,022	$	58,266	$	1,395,288	$	1,180,042	$	43,153	$	1,223,195
Service		202,165		-		202,165		193,116		-		193,116		149,478		-		149,478
Net sales		1,507,954		60,369		1,568,323		1,530,138		58,266		1,588,404		1,329,520		43,153		1,372,673
Cost of Sales
Product		1,036,627		13,050		1,049,677		1,069,110		7,663		1,076,773		945,037		7,427		952,464
Service		125,092		-		125,092		120,440		-		120,440		89,821		-		89,821
Total cost of sales		1,161,719		13,050		1,174,769		1,189,550		7,663		1,197,213		1,034,858		7,427		1,042,285
Gross Profit		346,235		47,319		393,554		340,588		50,603		391,191		294,662		35,726		330,388
Selling, general, and administrative		256,210		15,053		271,263		264,123		15,059		279,182		226,112		10,970		237,082
Depreciation and amortization		13,839		112		13,951		14,016		140		14,156		11,812		12		11,824
Interest and financing costs		521		1,484		2,005		294		2,280		2,574		-		1,948		1,948
Operating expenses		270,570		16,649		287,219		278,433		17,479		295,912		237,924		12,930		250,854
Operating income		75,665		30,670		106,335		62,155		33,124		95,279		56,738		22,796		79,534
Other income						571						680						6,696
Earnings before tax					$	106,906					$	95,959					$	86,230
Net Sales
Contracts with customers	$	1,484,104	$	12,369	$	1,496,473	$	1,514,507	$	4,589	$	1,519,096	$	1,308,405	$	3,577	$	1,311,982
Financing and other		23,850		48,000		71,850		15,631		53,677		69,308		21,115		39,576		60,691
Net Sales	$	1,507,954	$	60,369	$	1,568,323	$	1,530,138	$	58,266	$	1,588,404	$	1,329,520	$	43,153	$	1,372,673
Selected Financial Data - Statement of Cash Flow
Depreciation and amortization	$	14,568	$	5,423	$	19,991	$	14,516	$	4,640	$	19,156	$	12,661	$	5,978	$	18,639
Purchases of property, equipment and operating lease equipment	$	4,752	$	6,761	$	11,513	$	4,842	$	2,167	$	7,009	$	6,042	$	5,587	$	11,629
Selected Financial Data - Balance Sheet
Total assets	$	828,576	$	248,199	$	1,076,775	$	709,854	$	199,259	$	909,113	$	607,998	$	178,200	$	786,198

Technology Segment Disaggregation of Revenue

We analyze net sales for our technology segment by customer end market and by vendor, as opposed to discrete product and service categories, which are summarized below (in thousands):

	Year Ended March 31,
	2021			2020			2019
Customer end market:
Technology	$	251,683		$	324,239		$	293,362
Telecom, Media & Entertainment		371,913			289,958			175,260
Financial Services		198,761			191,679			202,074
State and local government and educational institutions		245,919			243,092			223,330
Healthcare		200,067			233,894			193,754
All others		239,611			247,276			241,740
Net sales		1,507,954			1,530,138			1,329,520
Less: Revenue from financing and other		(23,850	)		(15,631	)		(21,115	)
Revenue from contracts with customers	$	1,484,104		$	1,514,507		$	1,308,405

	Year Ended March 31,
	2021			2020			2019
Vendor
Cisco Systems	$	537,041		$	607,719		$	556,182
NetApp		58,020			59,812			48,858
HP Inc. & HPE		59,838			71,802			74,348
Dell / EMC		107,336			84,939			61,284
Arista Networks		51,789			75,281			57,850
Juniper Networks		91,946			68,339			48,943
All others		601,984			562,246			482,055
Net sales		1,507,954			1,530,138			1,329,520
Less: Revenue from financing and other		(23,850	)		(15,631	)		(21,115	)
Revenue from contracts with customers	$	1,484,104		$	1,514,507		$	1,308,405

Geographical Information

The geographic information for the years ended March 31, 2021, 2020 and 2019 was as follows (in thousands):

	Year Ended March 31,
	2021		2020		2019
Net sales:
US	$	1,476,466	$	1,508,329	$	1,284,482
Non US		91,857		80,075		88,191
Total	$	1,568,323	$	1,588,404	$	1,372,673

	March 31,
	2021		2020
Long-lived tangible assets:
US	$	33,504	$	38,297
Non US		931		1,233
Total	$	34,435	$	39,530