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Fair Value Measurements
3 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The following summarizes the financial assets and liabilities measured at fair value on a recurring basis:    

June 30, 2024June 30, 2023March 31, 2024
Level 2Level 3Total
at Fair
Value
Level 2Level 3Total
at Fair
Value
Level 2Level 3Total
at Fair
Value
Financial Assets:
Securitized beneficial interests$— $25,640 $25,640 $— $19,641 $19,641 $— $15,036 $15,036 
Total assets$— $25,640 $25,640 $— $19,641 $19,641 $— $15,036 $15,036 
Financial Liabilities:
Derivative financial instruments$1,834 $— $1,834 $11 $— $11 $— $— $— 
Long-term debt(1)
455,789 160 455,949 492,098 509 492,607 462,987 160 463,147 
Guarantees— 2,611 2,611 — 5,764 5,764 — 5,097 5,097 
Total liabilities$457,623 $2,771 $460,394 $492,109 $6,273 $498,382 $462,987 $5,257 $468,244 
(1) This fair value measurement disclosure does not affect the condensed consolidated balance sheets.
The following summarizes the reconciliation of changes in Level 3 instruments measured on a recurring basis:

Securitized Beneficial InterestsLong-Term DebtGuarantees
Beginning balance at March 31, 2024
$15,036 $160 $5,097 
Issuances of sales of receivables/guarantees61,029 — 938 
Settlements(45,233)— (715)
Losses recognized in earnings(5,192)— (2,709)
Ending balance at June 30, 2024
$25,640 $160 $2,611 

Securitized Beneficial InterestsLong-Term DebtGuarantees
Beginning balance at March 31, 2023
$19,522 $514 $5,262 
Issuances of sales of receivables/guarantees36,640 — 1,054 
Settlements(33,183)(5)(555)
Losses recognized in earnings(3,338)— 
Ending balance at June 30, 2023
$19,641 $509 $5,764 

For the three months ended June 30, 2024 and 2023, the impact to earnings attributable to the change in unrealized losses on securitized beneficial interests was $1,250 and $748, respectively. Gains and losses included in earnings are reported in other expense, net.