REVENUES

9 Months Ended

Dec. 31, 2021

REVENUES [Abstract]

REVENUES

2. REVENUES

CONTRACT BALANCES

Accounts receivable – trade consists entirely of amounts due from contracts with customers. In addition, we had $62.7 million and $54.6 million of receivables from contracts with customers included within financing receivables as of December 31, 2021, and March 31, 2021, respectively. The following table provides the balance of contract liabilities from contracts with customers (in thousands):

	December 31, 2021		March 31, 2021
Current (included in deferred revenue)	$	92,662	$	72,299
Non-current (included in other liabilities)	$	28,335	$	26,042

Revenue recognized from the beginning contract liability balance was $11.7 million and $47.9 million for the three and nine months ended December 31, 2021, respectively, and $9.6 million and $36.5 million for the three and nine months ended December 31, 2020, respectively.

PERFORMANCE OBLIGATIONS

The following table includes revenue expected to be recognized in the future related to performance obligations, primarily non-cancelable contracts for ePlus managed services, that are unsatisfied or partially unsatisfied at the end of the reporting period (in thousands):

Remainder of the year ending March 31, 2022	$	17,884
Year ending March 31, 2023		34,059
Year ending March 31, 2024		15,388
Year ending March 31, 2025		4,626
Year ending March 31, 2026 and thereafter		1,742
Total remaining performance obligations	$	73,699

The table does not include the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less, and (ii) contracts where we recognize revenue at the amount that we have the right to invoice for services performed.