Contract Assets

3 Months Ended

Jun. 30, 2023

Contract Assets [Abstract]

Contract Assets

5. Contract Assets

During the three months ended June 30, 2023 and 2022, the Company reduced the carrying value of Remanufactured Cores held at customers’ locations by $778,000 and $572,000, respectively.

Contract assets are comprised of the following:

	June 30, 2023		March 31, 2023
Short-term contract assets
Cores expected to be returned by customers	$	15,915,000	$	13,463,000
Core premiums paid to customers		9,775,000		9,812,000
Upfront payments to customers		1,458,000		1,593,000
Finished goods premiums paid to customers		584,000		575,000
Total short-term contract assets	$	27,732,000	$	25,443,000
Remanufactured cores held at customers’ locations	$	268,906,000	$	271,628,000
Core premiums paid to customers		36,401,000		38,310,000
Long-term core inventory deposits		5,569,000		5,569,000
Finished goods premiums paid to customers		2,651,000		2,530,000
Upfront payments to customers		936,000		344,000
Total long-term contract assets	$	314,463,000	$	318,381,000