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FINANCING RECEIVABLES AND OPERATING LEASES (Tables)
 12 Months Ended
Mar. 31, 2024
FINANCING RECEIVABLES AND OPERATING LEASES [Abstract]  
Sales-type Leases
The following table provides the profit recognized for sales-type leases at their commencement date, including modifications that are recognized on a net basis, for the years ended March 31, 2024, and 2023 (in thousands):

 
Year Ended March 31,
  
   
2024
    
2023
  
Net sales
  
$
21,578
    
$
22,677
  
Cost of sales
    
19,557
      
19,009
  
Gross profit
  
$
2,021
    
$
3,668
  
The following table provides interest income in aggregate on our sales-type leases and lease income on our operating leases for the years ended March 31, 2024, and 2023 (in thousands):

 
Year Ended March 31,
  
   
2024
    
2023
  
Interest income on sales-type leases
  
$
6,769
    
$
3,943
  
Lease income on operating leases
  
$
10,886
    
$
17,421
  
Notes Receivable Net and Investments in Leases
The following tables provide a disaggregation of our financing receivables—net (in thousands):

    Notes     Sales-Type Lease     Financing  
March 31, 2024
  
Receivable
    
Receivables
    
Receivables
  
Gross receivables
  
$
114,713
    
$
75,658
    
$
190,371
  
Unguaranteed residual value (1)
    
-
      
9,078
      
9,078
  
Unearned income
    
(6,503
)
    
(12,036
)
    
(18,539
)
Allowance for credit losses (2)
    
(1,056
)
    
(1,435
)
    
(2,491
)
Total, net
  
$
107,154
    
$
71,265
    
$
178,419
  
Reported as:
                        
Current
  
$
61,830
    
$
40,770
    
$
102,600
  
Long-term
    
45,324
      
30,495
      
75,819
  
Total, net
  
$
107,154
    
$
71,265
    
$
178,419
  

(1)
Includes unguaranteed residual values of $3,718 thousand that we retained after selling the related lease receivable.
(2)
Refer to Note 7, “Allowance for Credit Losses” for details.
    Notes     Sales-Type Lease     Financing  
March 31, 2023
  
Receivable
    
Receivables
    
Receivables
  
Gross receivables
  
$
117,008
    
$
60,157
    
$
177,165
  
Unguaranteed residual value (1)
    
-
      
8,161
      
8,161
  
Unearned income
    
(5,950
)
    
(8,050
)
    
(14,000
)
Allowance for credit losses (2)
    
(801
)
    
(981
)
    
(1,782
)
Total, net
  
$
110,257
    
$
59,287
    
$
169,544
  
Reported as:
                        
Current
  
$
65,738
    
$
24,091
    
$
89,829
  
Long-term
    
44,519
      
35,196
      
79,715
  
Total, net
  
$
110,257
    
$
59,287
    
$
169,544
  

(1)
Includes unguaranteed residual values of $4,222 thousand that we retained after selling the related lease receivable.
(2)
Refer to Note 7, “Allowance for Credit Losses” for details.
Future Scheduled Minimum Lease Payments
The following table provides the future scheduled minimum lease payments to be received from our sales-type leases as of March 31, 2024 (in thousands):

Year ending March 31, 2025
  
$
34,513
  
2026
    
22,600
  
2027
    
12,380
  
2028
    
4,901
  
2029     1,263  
2030 and thereafter
    
1
  
Total
  
$
75,658
  
Operating Lease - Net The components of operating leases—net are as follows (in thousands):

 
March 31, 2024
    
March 31,2023
  
Cost of equipment under operating leases
  
$
10,744
    
$
15,301
  
Accumulated depreciation
    
(7,128
)
    
(10,599
)
Operating leases—net (1)
  
$
3,616
    
$
4,702
  

(1)
Amounts include estimated unguaranteed residual values of $1,346 thousand and $1,717 thousand as of March 31, 2024, and 2023 respectively.
Future Minimum Rental Payments for Operating Leases
The following table provides the future scheduled minimum lease rental payments to be received from our operating leases as of March 31, 2024 (in thousands):

Year ending March 31, 2025
  
$
1,984
  
2026
    
1,271
  
2027
    
222
  
Total
  
$
3,477