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RESERVES FOR CREDIT LOSSES
 3 Months Ended
Jun. 30, 2019
RESERVES FOR CREDIT LOSSES [Abstract]  
RESERVES FOR CREDIT LOSSES



7.  RESERVES FOR CREDIT LOSSES

Activity in our reserves for credit losses for the three months ended June 30, 2019 and 2018 were as follows (in thousands):


  
Accounts
Receivable
    
Notes
Receivable
    
Lease-
Related
Receivables
    
Total
  
Balance April 1, 2019
  
$
1,579
    
$
505
    
$
530
    
$
2,614
  
Provision for credit losses
    
281
      
16
      
(16
)
    
281
  
Write-offs and other
    
(3
)
    
(1
)
    
(2
)
    
(6
)
Balance June 30, 2019
  
$
1,857
    
$
520
    
$
512
    
$
2,889
  


 
Accounts
Receivable
    
Notes
Receivable
    
Lease-
Related
Receivables
    
Total
  
Balance April 1, 2018
  
$
1,538
    
$
486
    
$
640
    
$
2,664
  
Provision for credit losses
    
123
      
-
      
56
      
179
  
Write-offs and other
    
(1
)
    
-
      
-
      
(1
)
Balance June 30, 2018
  
$
1,660
    
$
486
    
$
696
    
$
2,842
  

Our reserves for credit losses and minimum payments associated with our notes receivables and lease-related receivables disaggregated based on of our impairment method were as follows (in thousands):


  
June 30, 2019
    
March 31, 2019
  
   
Notes
Receivable
    
Lease-
Related
Receivables
    
Notes
Receivable
    
Lease-
Related
Receivables
  
Reserves for credit losses:
                        
Ending balance: collectively evaluated for impairment
  
$
458
    
$
512
    
$
443
    
$
530
  
Ending balance: individually evaluated for impairment
    
62
      
-
      
62
      
-
  
Ending balance
  
$
520
    
$
512
    
$
505
    
$
530
  
                                 
Minimum payments:
                                
Ending balance: collectively evaluated for impairment
  
$
62,985
    
$
85,396
    
$
40,501
    
$
64,201
  
Ending balance: individually evaluated for impairment
    
89
      
-
      
62
      
-
  
Ending balance
  
$
63,074
    
$
85,396
    
$
40,563
    
$
64,201
  

We place receivables on non-accrual status when events, such as a customer’s declaring bankruptcy, occur that indicate a receivable will not be collectable. We charge off uncollectable financing receivables when we stop pursuing collection.
The age of the recorded minimum lease payments and net credit exposure associated with our investment in direct financing and sales-type leases that are past due disaggregated based on our internally assigned credit quality rating (“CQR”) were as follows as of June 30, 2019 and March 31, 2019 (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
  
                                                             
June 30, 2019
                                                            
                                                             
High CQR
  
$
275
    
$
205
    
$
528
    
$
1,008
    
$
239
    
$
38,379
    
$
39,626
    
$
(4,362
)
  
$
(13,800
)
  
$
21,464
  
Average CQR
    
32
      
11
      
29
      
72
      
252
      
45,446
      
45,770
      
(3,698
)
    
(25,970
)
    
16,102
  
Low CQR
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total
  
$
307
    
$
216
    
$
557
    
$
1,080
    
$
491
    
$
83,825
    
$
85,396
    
$
(8,060
)
  
$
(39,770
)
  
$
37,566
  
                                                                                 
March 31, 2019
                                                                                
                                                                                 
High CQR
  
$
325
    
$
41
    
$
10
    
$
376
    
$
543
    
$
29,503
    
$
30,422
    
$
(2,799
)
  
$
(11,044
)
  
$
16,579
  
Average CQR
    
22
      
54
      
15
      
91
      
125
      
33,563
      
33,779
      
(2,508
)
    
(20,848
)
    
10,423
  
Low CQR
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total
  
$
347
    
$
95
    
$
25
    
$
467
    
$
668
    
$
63,066
    
$
64,201
    
$
(5,307
)
  
$
(31,892
)
  
$
27,002
  

The age of the recorded notes receivable balance disaggregated based on our internally assigned CQR were as follows as of June 30, 2019 and March 31, 2019 (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
  
                                                       
June 30, 2019
                                                      
                                                       
High CQR
  
$
-
    
$
23
    
$
106
    
$
129
    
$
7,361
    
$
48,240
    
$
55,730
    
$
(29,962
)
  
$
25,768
  
Average CQR
    
27
      
27
      
-
      
54
      
487
      
6,714
      
7,255
      
(49
)
    
7,206
  
Low CQR
    
-
      
-
      
89
      
89
      
-
      
-
      
89
      
-
      
89
  
Total
  
$
27
    
$
50
    
$
195
    
$
272
    
$
7,848
    
$
54,954
    
$
63,074
    
$
(30,011
)
  
$
33,063
  
                                                                         
March 31, 2019
                                                                        
                                                                         
High CQR
  
$
990
    
$
40
    
$
30
    
$
1,060
    
$
3,813
    
$
28,113
    
$
32,986
    
$
(18,245
)
  
$
14,741
  
Average CQR
    
105
      
34
      
7
      
146
      
137
      
7,232
      
7,515
      
(1,507
)
    
6,008
  
Low CQR
    
-
      
-
      
62
      
62
      
-
      
-
      
62
      
-
      
62
  
Total
  
$
1,095
    
$
74
    
$
99
    
$
1,268
    
$
3,950
    
$
35,345
    
$
40,563
    
$
(19,752
)
  
$
20,811
  

We estimate losses on our net credit exposure to be between 0% - 5% for customers with the highest CQR, as these customers are investment grade or the equivalent of investment grade. We estimate losses on our net credit exposure to be between 2% - 15% for customers with average CQR, and between 15% - 100% for customers with low CQR, which includes customers in bankruptcy.