ePlus (PLUS) 10-Q 6 Aug 20 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Jun. 30, 2020	Aug. 03, 2020
Cover [Abstract]
Entity Registrant Name	ePlus inc.
Entity Central Index Key	0001022408
Current Fiscal Year End Date	--03-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		13,553,424
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	1-34167
Entity Tax Identification Number	54-1817218
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	13595 Dulles Technology Drive
Entity Address, City or Town	Herndon
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	20171-3413
City Area Code	703
Local Phone Number	984-8400
Title of 12(b) Security	Common Stock, $.01 par value
Trading Symbol	PLUS
Security Exchange Name	NASDAQ

UNAUDITED CONSOLIDATED BALANCE

UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Current assets:
Cash and cash equivalents	$ 144,382	$ 86,231
Accounts receivable-trade, net	393,044	374,998
Accounts receivable-other, net	33,076	36,570
Inventories	93,323	50,268
Financing receivables-net, current	116,120	70,169
Deferred costs	20,785	22,306
Other current assets	6,102	9,256
Total current assets	806,832	649,798
Financing receivables and operating leases-net	68,862	74,158
Property, equipment and other assets	33,025	32,596
Goodwill	118,097	118,097
Other intangible assets-net	32,046	34,464
TOTAL ASSETS	1,058,862	909,113
Current liabilities:
Accounts payable	136,507	82,919
Accounts payable-floor plan	175,701	127,416
Salaries and commissions payable	26,460	30,952
Deferred revenue	57,271	55,480
Recourse notes payable-current	37,271	37,256
Non-recourse notes payable-current	55,667	29,630
us-gaap_OtherLiabilitiesCurrent	30,683	22,986
Total current liabilities	519,560	386,639
Non-recourse notes payable-long term	5,500	5,872
Deferred tax liability-net	2,731	2,730
us-gaap_OtherLiabilitiesNoncurrent	28,346	27,727
TOTAL LIABILITIES	556,137	422,968
COMMITMENTS AND CONTINGENCIES (Note 10)
STOCKHOLDERS' EQUITY
Preferred stock, $.01 per share par value; 2,000 shares authorized; none outstanding	0	0
Common stock, $.01 per share par value; 25,000 shares authorized; 13,553 outstanding at June 30, 2020 and 13,500 outstanding at March 31, 2020	145	144
Additional paid-in capital	147,082	145,197
Treasury stock, at cost, 934 shares at June 30, 2020 and 896 shares at March 31, 2020	(71,127)	(68,424)
Retained earnings	427,579	410,219
Accumulated other comprehensive income-foreign currency translation adjustment	(954)	(991)
Total Stockholders' Equity	502,725	486,145
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 1,058,862	$ 909,113

UNAUDITED CONSOLIDATED BALANC_2

UNAUDITED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Jun. 30, 2020	Mar. 31, 2020
STOCKHOLDERS' EQUITY
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	2,000	2,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	25,000	25,000
Common stock, shares outstanding (in shares)	13,553	13,500
Treasury stock, shares (in shares)	934	896

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Net sales
Total	$ 355,031	$ 381,372
Cost of sales
Total	256,474	288,733
Gross profit	98,557	92,639
Selling, general, and administrative	69,467	65,787
Depreciation and amortization	3,516	3,463
Interest and financing costs	577	628
Operating expenses	73,560	69,878
Operating income	24,997	22,761
Other income (expense)	98	(45)
Earnings before tax	25,095	22,716
Provision for income taxes	7,735	6,528
Net earnings	$ 17,360	$ 16,188
Net earnings per common share-basic (in dollars per share)	$ 1.30	$ 1.21
Net earnings per common share-diluted (in dollars per share)	$ 1.30	$ 1.20
Weighted average common shares outstanding-basic (in shares)	13,322	13,356
Weighted average common shares outstanding-diluted (in shares)	13,388	13,457
Product [Member]
Net sales
Total	$ 307,240	$ 335,601
Cost of sales
Total	226,634	260,063
Services [Member]
Net sales
Total	47,791	45,771
Cost of sales
Total	$ 29,840	$ 28,670

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
NET EARNINGS	$ 17,360	$ 16,188
OTHER COMPREHENSIVE INCOME, NET OF TAX:
Foreign currency translation adjustments	37	(263)
Other comprehensive income (loss)	37	(263)
TOTAL COMPREHENSIVE INCOME	$ 17,397	$ 15,925

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net earnings	$ 17,360	$ 16,188
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	4,779	4,964
Reserve for credit losses	787	351
Share-based compensation expense	1,885	1,919
Deferred taxes	1	(3)
Payments from lessees directly to lenders-operating leases	(8)	(22)
Gain on disposal of property, equipment, and operating lease equipment	(25)	(203)
Changes in:
Accounts receivable	(14,880)	(69,281)
Inventories-net	(43,038)	(7,774)
Financing receivables-net	(24,745)	(58,198)
Deferred costs and other assets	4,973	(14,379)
Accounts payable-trade	53,675	21,089
Salaries and commissions payable, deferred revenue, and other liabilities	5,630	17,955
Net cash provided by (used in) operating activities	6,394	(87,394)
Cash flows from investing activities:
Proceeds from sale of property, equipment, and operating lease equipment	118	292
Purchases of property, equipment, and operating lease equipment	(2,277)	(1,518)
Net cash used in investing activities	(2,159)	(1,226)
Cash flows from financing activities:
Borrowings of non-recourse and recourse notes payable	10,332	41,394
Repayments of non-recourse and recourse notes payable	(1,874)	(3,414)
Repurchase of common stock	(2,703)	(13,318)
Repayments of financing of acquisitions	0	(265)
Net borrowings on floor plan facility	48,285	19,930
Net cash provided by financing activities	54,040	44,327
Effect of exchange rate changes on cash	(124)	81
Net increase (decrease) in cash and cash equivalents	58,151	(44,212)
Cash and cash equivalents, beginning of period	86,231	79,816
Cash and cash equivalents, end of period	144,382	35,604
Supplemental disclosures of cash flow information:
Cash paid for interest	558	595
Cash paid for income taxes	193	5,616
Cash paid for amounts included in the measurement of lease liabilities	1,503	1,081
Schedule of non-cash investing and financing activities:
Purchases of property, equipment, and operating lease equipment	(237)	(1,947)
Borrowing of non-recourse and recourse notes payable	22,824	30,046
Repayments of non-recourse and recourse notes payable	(8)	(22)
Vesting of share-based compensation	7,472	7,774
Repurchase of common stock	0	(137)
New operating lease assets obtained in exchange for lease obligations	$ 726	$ 1,291

UNAUDITED CONSOLIDATED STATEM_4

UNAUDITED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Additional Paid-In Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income [Member]	Total
Balance at Mar. 31, 2019	$ 143	$ 137,243	$ (53,999)	$ 341,137	$ (271)	$ 424,253
Balance (in shares) at Mar. 31, 2019	13,611
Issuance of restricted stock awards	$ 1	0	0	0	0	1
Issuance of restricted stock awards (in shares)	86
Share-based compensation	$ 0	1,919	0	0	0	1,919
Repurchase of common stock	0	0	$ (13,455)	0	0	(13,455)
Repurchase of common stock (in shares)			(188)
Net earnings	0	0	$ 0	16,188	0	16,188
Foreign currency translation adjustment	0	0	0	0	(263)	(263)
Balance at Jun. 30, 2019	$ 144	139,162	(67,454)	357,325	(534)	428,643
Balance (in shares) at Jun. 30, 2019	13,509
Balance at Mar. 31, 2020	$ 144	145,197	(68,424)	410,219	(991)	$ 486,145
Balance (in shares) at Mar. 31, 2020	13,500					13,500
Issuance of restricted stock awards	$ 1	0	0	0	0	$ 1
Issuance of restricted stock awards (in shares)	91
Share-based compensation	$ 0	1,885	0	0	0	1,885
Repurchase of common stock	0	0	$ (2,703)	0	0	(2,703)
Repurchase of common stock (in shares)			(38)
Net earnings	0	0	$ 0	17,360	0	17,360
Foreign currency translation adjustment	0	0	0	0	37	37
Balance at Jun. 30, 2020	$ 145	$ 147,082	$ (71,127)	$ 427,579	$ (954)	$ 502,725
Balance (in shares) at Jun. 30, 2020	13,553					13,553

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Jun. 30, 2020
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES DESCRIPTION OF BUSINESS — Our e e e Kingdom (“UK”). BASIS OF PRESENTATION — The e acquisition. INTERIM FINANCIAL STATEMENTS — The unaudited consolidated financial statements for the months ended June and were prepared by us and include all normal and recurring adjustments that, in the opinion of management, are necessary for a fair presentation of our financial position, results of operations, changes in comprehensive income, and cash flows for such periods. Operating results for the months ended June and are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year ending March or any other future period. These unaudited consolidated financial statements do not include all disclosures required by the accounting principles generally accepted in the United States (“US GAAP”) for annual financial statements. Our audited consolidated financial statements are contained in our annual report on Form -K for the year ended March (“ Annual Report”), which should be read in conjunction with these interim consolidated financial statements. USE OF ESTIMATES — The estimates. CONCENTRATIONS OF RISK — A substantial portion of our sales are products from Cisco Systems, which were 37% of our technology segment’s net sales for the three months ended June 30, 2020, and 40% for the three months ended June 30, 2019. SIGNIFICANT ACCOUNTING POLICIES — The significant accounting policies used in preparing these Consolidated Financial Statements were applied on a basis consistent with those reflected in our Consolidated Financial Statements for the year ended March except for changes from the adoption of Financial Accounting Standards Board (“FASB”) Accounting Standards Update ("ASU") - Financial Instruments- Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU - ”). to our accounting policies from adopting ASU - are provided below. ALLOWANCE FOR CREDIT LOSSES — We maintain an allowance for credit losses related to our accounts receivable and financing receivables. We record an expense in the amount necessary to adjust the allowance for credit losses to our current estimate of expected credit losses on financial assets. We estimate expected credit losses based on our internal rating of the customer’s credit quality, our historical credit losses, current economic conditions, and other relevant factors. Prior to providing credit, we assign an internal rating for each customer’s credit quality based on the customer’s financial status, rating agency reports and other financial information. We review our internal ratings for each customer at least annually or when there is an indicator of a change in credit quality, such as a delinquency or bankruptcy. We charge off uncollectable financing receivables when we stop pursuing collection.

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Jun. 30, 2020
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	2. RECENT ACCOUNTING PRONOUNCEMENTS CREDIT LOSSES — Note 7

REVENUES

REVENUES	3 Months Ended
	Jun. 30, 2020
REVENUES [Abstract]
REVENUES	3. REVENUES Contract balances Accounts receivable – trade consists entirely of amounts due from contracts with customers. In addition, we had $ million and $ million of receivables from contracts with customers included within financing receivables as of June and March respectively. The following table provides the balance of contract liabilities from contracts with customers (in s): Contract liabilities June 30, 2020 March 31, 2020 Current (included in deferred revenue) $ 56,422 $ 54,486 Non-current (included in other liabilities) $ 15,410 $ 16,395 Revenue recognized from the beginning contract liability balance was $15.6 million and $15.8 million for the three months ended June 30, 2020, and 2019, respectively. Performance obligations The following table includes revenue expected to be recognized in the future related to performance obligations, primarily non-cancelable contracts for e Plus managed services, that are unsatisfied or partially unsatisfied at the end of the reporting period, in s. Remainder of Year ending March 31, 2021 $ 24,863 Year Ending March 31, 2022 13,072 Year Ending March 31, 2023 4,991 Year Ending March 31, 2024 789 Year Ending March 31, 2025 and thereafter 653 Total remaining performance obligations $ 44,368 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.

FINANCING RECEIVABLES AND OPERA

FINANCING RECEIVABLES AND OPERATING LEASES	3 Months Ended
	Jun. 30, 2020
FINANCING RECEIVABLES AND OPERATING LEASES [Abstract]
FINANCING RECEIVABLES AND OPERATING LEASES	4. FINANCING RECEIVABLES AND OPERATING LEASES O ur financing receivables and operating leases consist primarily of leases of IT and communication equipment and notes receivable from financing customer purchases of -party software, maintenance, and services. Our leases often include elections for the lessee to purchase the underlying asset at the end of the lease term. Occasionally, our leases provide the lessee a bargain purchase option . The following table provides the profit recognized for new sales-type leases at their commencement date, including modifications that are recognized on a net basis, for the months ended June and June (in s) : Profit recognized for sales-type leases Three months ended June 30, 2020 Three months ended June 30, 2019 Net sales $ 10,163 $ 4,854 Cost of sales 5,327 3,950 Gross profit $ 4,836 $ 904 The following table provides interest income in aggregate on our sales-type leases and lease income on our operating leases for the months ended June and June (in s): Three months ended June 30, 2020 Three months ended June 30, 2019 Interest income on sales-type leases $ 2,219 $ 2,095 Lease income on operating leases $ 3,838 $ 5,359 FINANCING RECEIVABLES—NET The following table provides a disaggregation of our financing receivables – net (in s): June 30, 2020 Notes Receivable Lease Receivables Financing Receivables Gross receivables $ 101,196 $ 64,197 $ 165,393 Unguaranteed residual value (1) - 21,534 21,534 Initial direct costs, net of amortization 552 - 552 Unearned income - (10,079 ) (10,079 ) Reserve for credit losses (2) (1,139 ) (727 ) (1,866 ) Total, net $ 100,609 $ 74,925 $ 175,534 Reported as: Current $ 79,262 $ 36,858 $ 116,120 Long-term 21,347 38,067 59,414 Total, net $ 100,609 $ 74,925 $ 175,534 (1) Includes unguaranteed residual values of $12,962 thousand that we retained after selling the related lease receivable. (2) Refer to Note 7 , “Allowance for Credit Losses” for details. March 31, 2020 Notes Receivable Lease Receivables Financing Receivables Minimum payments $ 55,417 $ 69,492 $ 124,909 Estimated unguaranteed residual value (1) - 21,862 21,862 Initial direct costs, net of amortization 212 247 459 Unearned income - (11,612 ) (11,612 ) Reserve for credit losses (2) (798 ) (610 ) (1,408 ) Total, net $ 54,831 $ 79,379 $ 134,210 Reported as: Current $ 31,181 $ 38,988 $ 70,169 Long-term 23,650 40,391 64,041 Total, net $ 54,831 $ 79,379 $ 134,210 (1) Includes unguaranteed residual values of for sales type leases, which have been sold and accounted for as sales. (2) Refer to Note 7 “Allowance for Credit Losses” for details. The following table provides the future scheduled minimum lease payments for investments in sales-type leases as of June (in s): Remainder of the Year ending March 31, 2021 $ 38,966 Year Ending March 31, 2022 14,156 Year Ending March 31, 2023 8,381 Year Ending March 31, 2024 1,985 Year Ending March 31, 2025 and thereafter 709 Total $ 64,197 OPERATING LEASES—NET Operating leases—net represents leases that do not qualify as sales-type leases. The components of the operating leases—net are as follows (in thousands): OPERATING LEASES June 30, 2020 March 31, 2020 Cost of equipment under operating leases $ 21,263 $ 21,276 Accumulated depreciation (11,815 ) (11,159 ) Investment in operating lease equipment—net (1) $ 9,448 $ 10,117 (1) Amounts include estimated unguaranteed residual values of $3.0 million and $3.1 million as of June 30, 2020, and March 31, 2020, respectively. The following table provides the future scheduled minimum lease rental payments for operating leases as of June (in s): Remainder of the Year ending March 31, 2021 $ 2,821 Year Ending March 31, 2022 2,472 Year Ending March 31, 2023 1,528 Year Ending March 31, 2024 477 Year Ending March 31, 2025 and thereafter 34 Total $ 7,332 TRANSFERS OF FINANCIAL ASSETS We enter into arrangements to transfer the contractual payments due under financing receivables and operating lease agreements, which are accounted for as sales or secured borrowings. For transfers accounted for as a secured borrowing, the corresponding investments serve as collateral for non-recourse notes payable. As of June 30, 2020, and March 31, 2020, we had financing receivables of $ million and $ million, respectively, and operating leases of $ million and $ million, respectively, which were collateral for non-recourse notes payable. See Note 9 , “Notes Payable and Credit Facility.” For transfers accounted for as sales, we derecognize the carrying value of the asset transferred plus any liability and recognize a net gain or loss on the sale, which are presented within net sales in the consolidated statement of operations. During the three months ended June 30, 2020 and 2019 we recognized net gains of $2.5 million and $3.3 million, respectively, and total proceeds from these sales were $73.2 million and $69.9 million, respectively. When we retain servicing obligations in transfers accounted for as sales, we allocate a portion of the proceeds to deferred revenues, which is recognized as we perform the services. As of both June 30, 2020, and March 31, 2020, we had deferred revenue of $0.4 million for servicing obligations. In a limited number of transfers accounted for as sales, we indemnified the assignee in the event that the lessee elected to early terminate the lease. As of June 30, 2020, our maximum potential future payments related to such guarantees is immaterial. We believe the likelihood of making any such payments to be remote.

LESSEE ACCOUNTING

LESSEE ACCOUNTING	3 Months Ended
	Jun. 30, 2020
LESSEE ACCOUNTING [Abstract]
LESSEE ACCOUNTING	5. LESSEE ACCOUNTING We lease office space for periods up to years. We recognize our right-of-use assets as part of property, equipment and other assets. We recognize the current and long-term portions of our lease liability as part of other current liabilities and other liabilities, respectively. We recognized rent expense of as part of selling, general, and administrative expenses for each of the months ended June and . The following table provides supplemental information about the remaining lease terms and discount rates applied as of June and March : Lease term and Discount Rate June 30, 2020 March 31, 2020 Weighted average remaining lease term (months) 36 38 Weighted average discount rate 3.9 % 3.9 % The following table provides our future lease payments under our operating leases as of June (in s): June 30, 2020 Remainder of the year ending March 31, 2021 $ 3,899 Year ending March 31, 2022 4,287 Year ending March 31, 2023 3,093 Year ending March 31, 2024 1,248 Year ending March 31, 2025 and thereafter 814 Total lease payments $ 13,341 Less: interest (733 ) Present value of lease liabilities $ 12,608

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	3 Months Ended
	Jun. 30, 2020
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	6. GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL The carrying value of goodwill was $118.1 million for both June 30, 2020, and March 31,2020, as there were no additions or impairments, and changes due to foreign currency translations were insignificant. Goodwill represents the premium paid over the fair value of the net tangible and intangible assets that are individually identified and separately recognized in business combinations. All of our goodwill as of June 30, 2020, is related to our technology reportable segment, which we also determined to be one reporting unit. We test goodwill for impairment on an annual basis, as of the first day of our third fiscal quarter, and between annual tests if an event occurs, or circumstances change, that would more likely than not reduce the fair value of a reporting unit below its carrying value. During the fourth quarter of fiscal year 2020, we determined that the uncertainty associated with the economic environment stemming from the COVID-19 pandemic was a triggering event and we elected to perform a quantitative goodwill impairment test. We concluded that the fair value of our technology reporting unit substantially exceeded its carrying value as of March 31, 2020. Our conclusions would not be impacted by a ten percent change in our estimate of the fair value of the reporting unit. OTHER INTANGIBLE ASSETS Our other intangible assets consist of the following at June 30, 2020 and March 31, 2020 June 30, 2020 March 31, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships & other intangibles $ 63,006 $ (35,228 ) $ 27,778 $ 63,006 $ (33,000 ) $ 30,006 Capitalized software development 10,500 (6,232 ) 4,268 10,385 (5,927 ) 4,458 Total $ 73,506 $ (41,460 ) $ 32,046 $ 73,391 $ (38,927 ) $ 34,464 Customer relationships and other intangibles are generally amortized between to years. Capitalized generally amortized over Total amortization expense for other intangible assets was $2.5 million for each of the three months ended June 30, 2020, and 2019.

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES	3 Months Ended
	Jun. 30, 2020
ALLOWANCE FOR CREDIT LOSSES [Abstract]
ALLOWANCE FOR CREDIT LOSSES	7. ALLOWANCE FOR CREDIT LOSSES The following table provides the activity in our allowance for credit losses for the three months ended June 30, 2020, and 2019 (in thousands): Accounts Receivable Notes Receivable Lease Receivables Total Balance April 1, 2020 $ 1,781 $ 798 $ 610 $ 3,189 Provision for credit losses 329 341 117 787 Write-offs and other - - - - Balance June 30, 2020 $ 2,110 $ 1,139 $ 727 $ 3,976 Accounts Receivable Notes Receivable Lease 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 The following table provides our allowance for credit losses and minimum payments associated with our notes receivables and lease-related receivables disaggregated based on our impairment method as of March 31, 2020 (in thousands): March 31, 2020 Notes Receivable Lease Allowance for credit losses: Ending balance: collectively evaluated for impairment $ 736 $ 610 Ending balance: individually evaluated for impairment 62 - Ending balance $ 798 $ 610 Minimum payments: Ending balance: collectively evaluated for impairment $ 55,005 $ 69,492 Ending balance: individually evaluated for impairment 412 - Ending balance $ 55,417 $ 69,492 We evaluate our customers using an internally assigned credit quality rating (“CQR”): • High CQR: This rating includes accounts with excellent to good business credit, asset quality and capacity to meet financial obligations. Loss rates in this category are generally less than . • Average CQR: This rating includes accounts with average credit risk that are more susceptible to loss in the event of adverse business or economic conditions. Loss rates in this category are generally in the range of to . • Low CQR: This rating includes accounts that have marginal credit risk such that the customer’s ability to make repayment is impaired or may likely become impaired. The loss rates in this category in the normal course are generally in the range of to . The following table provides the amortized cost basis of our financing receivables by CQR and by credit origination year as of June 30, 2020 (in thousands): Amortized cost basis by origination year ending March 31, 2021 2020 2019 2018 2017 2016 and prior Total Transfers (2) Net credit exposure Notes receivable: High CQR $ 49,137 $ 15,822 $ 13,503 $ 1,024 $ 45 $ - $ 79,531 $ (56,342 ) $ 23,189 Average CQR 3,426 16,395 1,195 76 - - 21,092 (11,592 ) 9,500 Low CQR - 160 324 - - 89 573 - 573 Total $ 52,563 $ 32,377 $ 15,022 $ 1,100 $ 45 $ 89 $ 101,196 $ (67,934 ) $ 33,262 Lease receivables: High CQR $ 15,995 $ 13,812 $ 4,620 $ 1,597 $ 387 $ 16 $ 36,427 $ (18,580 ) $ 17,847 Average CQR 8,650 11,129 5,498 875 108 3 26,263 (10,123 ) 16,140 Low CQR - - - - - - - - - Total $ 24,645 24,941 $ 10,118 $ 2,472 $ 495 $ 19 $ 62,690 $ (28,703 ) $ 33,987 Total amortized cost (1) $ 77,208 $ 57,318 $ 25,140 $ 3,572 $ 540 $ 108 $ 163,886 $ (96,637 ) $ 67,249 (1) Unguaranteed residual values of $ thousand that we retained after selling the related lease receivable and initial direct costs of notes receivable of $ thousand are excluded from amortized cost. (2) Transfers consist of receivables that have been transferred to third-party financial institutions on a non-recourse basis and receivables that are in the process of being transferred to third-party financial institutions. The following table provides an aging analysis of our financing receivables as of , (in thousands): 31-60 Days Past Due 61-90 Days Past Due > 90 Days Past Due Total Past Due Current Total Billed Unbilled Amortized Cost Notes receivable $ 933 $ 29 $ 1,316 $ 2,278 $ 22,943 $ 25,221 $ 75,975 $ 101,196 Lease receivables 707 284 1,168 2,159 4,439 6,598 56,092 62,690 Total $ 1,640 $ 313 $ 2,484 $ 4,437 $ 27,382 $ 31,819 $ 132,067 $ 163,886 The following table provides an aging analysis of our lease receivables by CQR as of March 31, (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 High CQR $ 951 $ 105 $ 922 $ 1,978 $ 1,181 $ 33,581 $ 36,740 $ (4,766 ) $ (19,823 ) $ 12,151 Average CQR 46 107 112 265 1,106 31,381 32,752 (3,646 ) (18,693 ) 10,413 Low CQR - - - - - - - - - - Total $ 997 $ 212 $ 1,034 $ 2,243 $ 2,287 $ 64,962 $ 69,492 $ (8,412 ) $ (38,516 ) $ 22,564 The following table provides an aging analysis of our notes receivables by CQR as of March 31, (in thousands): 31-60 Days Past Due 61-90 Days Past Due Greater than 90 Days Past Due Total Past Current Unbilled Notes Receivable Total Notes Receivable Non- Recourse Notes Payable Net Credit Exposure High CQR $ 1,332 $ 2 $ 280 $ 1,614 $ 2,878 $ 29,057 $ 33,549 $ (18,341 ) $ 15,208 Average CQR 140 44 142 326 1,135 19,995 21,456 (16,636 ) 4,820 Low CQR 63 - 152 215 - 197 412 - 412 Total $ 1,535 $ 46 $ 574 $ 2,155 $ 4,013 $ 49,249 $ 55,417 $ (34,977 ) $ 20,440 Our financial assets on nonaccrual status was not significant as of June 30, 2020, and March 31, 2020.

PROPERTY, EQUIPMENT, OTHER ASSE

PROPERTY, EQUIPMENT, OTHER ASSETS AND LIABILITIES	3 Months Ended
	Jun. 30, 2020
PROPERTY, EQUIPMENT, OTHER ASSETS AND LIABILITIES [Abstract]
PROPERTY, EQUIPMENT, OTHER ASSETS AND LIABILITIES	8. PROPERTY, EQUIPMENT, OTHER ASSETS AND LIABILITIES Our property, equipment, other assets and liabilities consist of the following (in thousands): June 30, 2020 March 31, 2020 Other current assets: Deposits & funds held in escrow $ 856 $ 926 Prepaid assets 4,961 7,946 Other 285 384 Total $ 6,102 $ 9,256 Property, equipment and other assets Property and equipment, net $ 7,851 $ 7,153 Deferred costs - non-current 10,366 10,957 Right-of-use assets 12,405 13,066 Other 2,403 1,420 Total $ 33,025 $ 32,596 Other current liabilities : Accrued expenses $ 11,302 $ 10,024 Accrued income taxes payable 6,659 406 Contingent consideration - current 249 220 Short-term lease liability 5,042 4,815 Other 7,431 7,521 Total $ 30,683 $ 22,986 Other liabilities : Deferred revenue $ 15,683 $ 16,693 Long-term lease liability 7,566 8,326 Other 5,097 2,708 Total $ 28,346 $ 27,727 In the above table, deposits and funds held in escrow relate to financial assets that were sold to third-party banks. In conjunction with those sales, a portion of the proceeds was placed in escrow and will be released to us upon payment of outstanding invoices related to the underlying financing arrangements that were sold.

NOTES PAYABLE AND CREDIT FACILI

NOTES PAYABLE AND CREDIT FACILITY	3 Months Ended
	Jun. 30, 2020
NOTES PAYABLE AND CREDIT FACILITY [Abstract]
NOTES PAYABLE AND CREDIT FACILITY	9. NOTES PAYABLE AND CREDIT FACILITY Recourse Notes Payable Recourse notes payable consist of borrowings that, in the event of default, the lender has recourse against us in addition to the assets serving as collateral. As of June 30, 2020, and March 31, 2020, we had $2.3 million of recourse borrowings that were collateralized by investments in notes receivable and leases. Our principal and interest payments are generally due monthly in amounts that equal to the total payments due from the customer under the leases or notes receivable that collateralize the notes payable. The weighted average interest rate for these borrowings was 2.55% as of June 30, 2020, and March 31, 2020. Non-recourse Notes Payable Non-recourse notes payable consists of borrowings that, in the event of a default by a customer, the lender generally only has recourse against the customer, and the assets serving as collateral, but not against us. As of June 30, 2020, and March 31, 2020, we had $61.2 million and $35.5 million, respectively, of non-recourse borrowings that were collateralized by investments in notes and leases. Principal and interest payments are generally due monthly in amounts that are approximately equal to the total payments due from the customer under the leases or notes receivable that collateralize the notes payable. The weighted average interest rate for our non-recourse notes payable was 3.54% and 3.84%, as of June 30, 2020, and March 31, 2020, respectively. Credit Facility Within our technology segment, e Under the floor plan component, we had outstanding balances of $175.7 million and $127.4 million as of June 30, 2020, and March 31, 2020, respectively. Under the accounts receivable component, we had an outstanding balance of $35.0 million as of both June 30, 2020, and March 31, 2020, which is included within recourse notes payable on the consolidated balance sheet. Our interest rate on this borrowing was 2.75% and 3.49% as of June 30, 2020 and March 31, 2020, respectively. The fair value of the outstanding balance under the credit facility was equal to its carrying value as of June 30, 2020 and March 31, 2020. On May 15, 2020, we executed an amendment to the WFCDF credit facility that increased the aggregate limit of the two components, except during a temporary uplift, to $275.0 million. Additionally, we have an election to temporarily increase the aggregate limit to $350.0 million for a period of not less than 30 days, provided that all such periods shall not exceed 150 days in the aggregate in any calendar year. Further, the amendment increased the limit on the accounts receivable component of the WFCDF credit facility to $100 million, changed the interest rate to two percent (2.00%) plus the greater of one month LIBOR or seventy-five hundredths of one percent (0.75%), and modified certain restrictions on e e As of June 30, 2020, the limit of the two components of the credit facility was $275 million, and the accounts receivable component had a sub-limit of $100 million. The WFCDF credit facility is secured by the assets of e e The credit facility restricts the ability of e e e The credit facility requires that financial statements of e The loss of the WFCDF credit facility, including during circumstances related to COVID-19, could have a material adverse effect on our future results as we currently rely on this facility and its components for daily working capital and liquidity for our technology segment and as an operational function of our accounts payable process. On July 23, 2020, we elected to exercise the temporary increase in the aggregate limit of the WFCDF credit facility to $350.0 million for a period of not less than 30 days.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Jun. 30, 2020
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	10. COMMITMENTS AND CONTINGENCIES Legal Proceedings From time to time, the Company may be involved in routine legal proceedings, as well as demands, claims and threatened litigation that arise in the normal course of our business. The ultimate amount of liability, if any, for any claims of any type (either alone or in the aggregate) may materially and adversely affect the Company’s financial condition, results of operations and liquidity. In addition, the ultimate outcome of any litigation is uncertain. Any outcome, whether favorable or unfavorable, may materially and adversely affect the Company due to legal costs and expenses, diversion of management attention and other factors. The Company expenses legal costs in the period incurred. The Company cannot assure that additional contingencies of a legal nature or contingencies having legal aspects will not be asserted against the Company in the future, and these matters could relate to prior, current or future transactions or events.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Jun. 30, 2020
EARNINGS PER SHARE [Abstract]
EARNINGS PER SHARE	11. EARNINGS PER SHARE Basic earnings per share is calculated by dividing net earnings available to common shareholders by the basic weighted average number of shares of common stock outstanding during each period. Diluted earnings per share is calculated by dividing net earnings available to common shareholders by the basic weighted average number of shares of common stock outstanding plus common stock equivalents during each period. The following table provides a reconciliation of the numerators and denominators used to calculate basic and diluted net income per common share as disclosed on our unaudited consolidated statements of operations for the three months ended June 30, 2020, and 2019, respectively Three Months Ended June 30, 2020 2019 Net earnings attributable to common shareholders - basic and diluted $ 17,360 $ 16,188 Basic and diluted common shares outstanding: Weighted average common shares outstanding — basic 13,322 13,356 Effect of dilutive shares 66 101 Weighted average shares common outstanding — diluted 13,388 13,457 Earnings per common share - basic $ 1.30 $ 1.21 Earnings per common share - diluted $ 1.30 $ 1.20

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	3 Months Ended
	Jun. 30, 2020
STOCKHOLDERS' EQUITY [Abstract]
STOCKHOLDERS' EQUITY	12. STOCKHOLDERS’ EQUITY Share Repurchase Plan On May 24, 2019, our board of directors authorized the repurchase of up to 500,000 shares of our outstanding common stock over a 12-month period beginning on May 28, 2019, and ending on May 27, 2020. The plan authorized purchases to be made from time to time in the open market, or in privately negotiated transactions, subject to availability. Any repurchased shares will have the status of treasury shares and may be used, when needed, for general corporate purposes. On May 20, 2020, our board of directors authorized the repurchase of up to 500,000 shares of our outstanding common stock over a 12-month period beginning on May 28, 2020, and ending on May 27, 2021. The plan authorized purchases to be made from time to time in the open market, or in privately negotiated transactions, subject to availability. Any repurchased shares will have the status of treasury shares and may be used, when needed, for general corporate purposes. During the three months ended June 30,2020, no shares of our outstanding common stock were purchased under the share repurchase plan; we purchased 37,640 shares of common stock at a value of $2.7 million to satisfy tax withholding obligations relating to the vesting of employees’ restricted stock. During the three months ended June 30, 2019, we purchased 148,790 shares of our outstanding common stock at a value of $10.7 million under the share repurchase plan; we also purchased 38,811 shares of common stock at a value of $2.8 million to satisfy tax withholding obligations relating to the vesting of employees’ restricted stock.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	3 Months Ended
	Jun. 30, 2020
SHARE-BASED COMPENSATION [Abstract]
SHARE-BASED COMPENSATION	13. SHARE-BASED COMPENSATION Share-Based Plans As of June 30, 2020, we had share-based awards outstanding under the following Restricted Stock Activity For the three months ended June 30, 2020, we granted 716 restricted shares under the 2017 Director LTIP, and 89,873 restricted shares under the 2012 Employee LTIP. For the three months ended June 30, 2019, we granted 454 restricted shares under the 2017 Director LTIP, and 85,132 restricted shares under the 2012 Employee LTIP. A summary of the restricted shares is as follows: Number of Shares Weighted Average Grant- date Fair Value Nonvested April 1, 2020 193,580 $ 73.74 Granted 90,589 $ 71.80 Vested (104,071 ) $ 69.19 Forfeited - $ - Nonvested June 30, 2020 180,098 $ 75.39 Upon each vesting period of the restricted stock awards, employees are subject to minimum tax withholding obligations. Under the 2012 Employee LTIP, we may purchase a sufficient number of shares due to the participant to satisfy their minimum tax withholding on employee stock awards. For the three months ended June 30, 2020, the Company had withheld 37,640 shares of common stock at a value of $2.7 million, which was included in treasury stock. Compensation Expense We recognize compensation cost for awards of restricted stock with graded vesting on a straight-line basis over the requisite service period. There are no additional conditions for vesting other than service conditions. During the three months ended June 30, 2020, and 2019, we recognized $1.9 million and $1.9 million of total share-based compensation expense, respectively. Unrecognized compensation expense related to non-vested restricted stock was $12.8 million as of June 30, 2020, which will be fully recognized over the next 36 months. We also provide our employees with a contributory 401(k) profit sharing plan, to which we may contribute from time to time at our sole discretion. Employer contributions to the plan are fully vested at all times. For both the three months ended June 30, 2020, and 2019, our estimated contribution expense for the plan was $0.7 million.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Jun. 30, 2020
INCOME TAXES [Abstract]
INCOME TAXES	14. INCOME TAXES We account for our tax positions in accordance with Codification Topic 740, Income Taxes Our total gross unrecognized tax benefits recorded for uncertain income tax, and interest and penalties thereon, were negligible as of June 30, 2020, and June 30, 2019. We had no additions or reductions to our gross unrecognized tax benefits during the three months ended June 30, 2020. We recognize accrued interest and penalties related to unrecognized tax benefits in income tax expense.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	3 Months Ended
	Jun. 30, 2020
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	15. FAIR VALUE OF FINANCIAL INSTRUMENTS We account for the fair values of our assets and liabilities in accordance with Codification Topic 820, Fair Value Measurement and Disclosure. Fair Value Measurement Using Recorded Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) June 30 , 2020 Assets: Money market funds $ 20,128 $ 20,128 $ - $ - Liabilities: Contingent consideration $ 249 $ - $ - $ 249 March 31 , 2020 Assets: Money market funds $ 128 $ 128 $ - $ - Liabilities: Contingent consideration $ 220 $ - $ - $ 220 We recorded adjustments that increased the fair value of our liability for contingent consideration the three months ended June 30, 2020, and June 30,2019 by $ thousand and $ thousand, respectively There were payments made to satisfy the current obligations of the contingent consideration arrangements for both the three months ended June 30, 2020, and 2019.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	3 Months Ended
	Jun. 30, 2020
BUSINESS COMBINATIONS [Abstract]
BUSINESS COMBINATIONS	16. BUSINESS COMBINATIONS ABS Technology On August 23, 2019, our subsidiary, e Plus Technology, inc., acquired certain assets and liabilities of ABS Technology, a Virginia Beach, Virginia- headquartered solutions provider with deep expertise in managed services, networking, collaboration, and security solutions. ABS Technology enhances e Plus’ existing solutions portfolio and market position in Richmond and southern Virginia. Our sum of consideration transferred was $ million consisting of $ million paid in cash at closing plus $ million that was paid primarily during the year ended March 31, 2020, upon the collection of certain accounts receivable and less $ million that was repaid to us in December 2019 due to a working capital adjustment. Our allocation of the purchase consideration to the assets acquired and liabilities assumed is presented below (in thousands): Acquisition Date Amount Accounts receivable $ 9,208 Other assets 743 Identified intangible assets 5,720 Accounts payable and other current liabilities (6,715 ) Performance obligation (1,140 ) Total identifiable net assets 7,816 Goodwill 7,461 Total purchase consideration $ 15,277 The identified intangible assets of $5.7 million consist of customer relationships with an estimated useful life of seven (7) years. The fair value of acquired receivables equals the gross contractual amounts receivable. We expect to collect all acquired receivables. We recognized goodwill related to this transaction of $7.5 million, which was assigned to our technology reporting unit. The goodwill recognized in the acquisition is attributable to the acquired assembled workforce and expected synergies, none of which qualify for recognition as a separate intangible asset. The total amount of goodwill is expected to be deductible for tax purposes. The amount of revenues and earnings of the acquiree since the acquisition date are not material. Likewise, the impact to the revenue and earnings of the combined entity for the current reporting period as though the acquisition date had been April 1, 2019, is not material.

SEGMENT REPORTING

SEGMENT REPORTING	3 Months Ended
	Jun. 30, 2020
SEGMENT REPORTING [Abstract]
SEGMENT REPORTING	17. SEGMENT REPORTING Our operations are conducted through two operating segments that are also both reportable segments. Our technology segment includes sales of IT products, third-party software, third-party maintenance, advanced professional and managed services, and our proprietary software to commercial enterprises, state and local governments, and government contractors. Our financing segment consists of the financing of IT equipment, software, and related services to commercial enterprises, state and local governments, and government contractors. We measure the performance of the segments based on operating income. Our reportable segment information was as follows (in thousands): Three Months Ended June 30, 2020 June 30, 2019 Technology Financing Total Technology Financing Total Sales Product $ 293,433 $ 13,807 $ 307,240 $ 322,764 $ 12,837 $ 335,601 Service 47,791 - 47,791 45,771 - 45,771 Net sales 341,224 13,807 355,031 368,535 12,837 381,372 Cost of Sales Product 224,543 2,091 226,634 258,054 2,009 260,063 Service 29,840 - 29,840 28,670 - 28,670 Total cost of sales 254,383 2,091 256,474 286,724 2,009 288,733 Gross Profit 86,841 11,716 98,557 81,811 10,828 92,639 Selling, general, and administrative 65,556 3,911 69,467 62,667 3,120 65,787 Depreciation and amortization 3,488 28 3,516 3,407 56 3,463 Interest and financing costs 265 312 577 - 628 628 Operating expenses 69,309 4,251 73,560 66,074 3,804 69,878 Operating income 17,532 7,465 24,997 15,737 7,024 22,761 Other income 98 (45 ) Earnings before tax $ 25,095 $ 22,716 Net Sales Contracts with customers $ 333,987 $ 960 $ 334,947 $ 363,681 $ 789 $ 364,470 Financing and other 7,237 12,847 20,084 4,854 12,048 16,902 Net Sales $ 341,224 $ 13,807 $ 355,031 $ 368,535 $ 12,837 $ 381,372 Selected Financial Data - Statement of Cash Flow Depreciation and amortization $ 3,634 $ 1,145 $ 4,779 $ 1,339 $ 3,625 $ 4,964 Purchases of property, equipment and operating lease equipment $ 2,048 $ 229 $ 2,277 $ 1,249 $ 269 $ 1,518 Selected Financial Data - Balance Sheet Total assets $ 834,264 $ 224,598 $ 1,058,862 $ 658,692 $ 216,121 $ 874,813 Technology Segment Disaggregation of Revenue We analyze net sales for our technology segment by customer end market and by vendor, as opposed to discrete product and service categories, which are summarized below (in thousands): Three Months Ended June 30, 2020 2019 Customer end market: Technology $ 69,967 $ 76,180 Telecom, Media & Entertainment 56,652 62,466 Financial Services 47,421 48,241 SLED 70,563 71,190 Healthcare 46,535 56,109 All others 50,086 54,349 Net sales 341,224 368,535 Less: Revenue from financing and other (7,237 ) (4,854 ) Revenue from contracts with customers $ 333,987 $ 363,681 Three Months Ended June 30, 2020 2019 Vendor Cisco Systems $ 127,932 $ 146,181 NetApp 15,421 13,427 HP Inc. & HPE 17,038 23,113 Dell / EMC 31,081 13,781 Arista Networks 6,820 20,950 Juniper Networks 13,579 7,054 All others 129,353 144,029 Net sales 341,224 368,535 Less: Revenue from financing and other (7,237 ) (4,854 ) Revenue from contracts with customers $ 333,987 $ 363,681 Financing Segment Disaggregation of Revenue We analyze our revenues within our financing segment based on the nature of the arrangement, and our revenues from contracts with customers consist of proceeds from the sale of off-lease equipment.

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Jun. 30, 2020
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION — The e acquisition.
INTERIM FINANCIAL STATEMENTS	INTERIM FINANCIAL STATEMENTS — The unaudited consolidated financial statements for the months ended June and were prepared by us and include all normal and recurring adjustments that, in the opinion of management, are necessary for a fair presentation of our financial position, results of operations, changes in comprehensive income, and cash flows for such periods. Operating results for the months ended June and are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year ending March or any other future period. These unaudited consolidated financial statements do not include all disclosures required by the accounting principles generally accepted in the United States (“US GAAP”) for annual financial statements. Our audited consolidated financial statements are contained in our annual report on Form -K for the year ended March (“ Annual Report”), which should be read in conjunction with these interim consolidated financial statements.
USE OF ESTIMATES	USE OF ESTIMATES — The estimates.
CONCENTRATIONS OF RISK	CONCENTRATIONS OF RISK — A substantial portion of our sales are products from Cisco Systems, which were 37% of our technology segment’s net sales for the three months ended June 30, 2020, and 40% for the three months ended June 30, 2019.
ALLOWANCE FOR CREDIT LOSSES	ALLOWANCE FOR CREDIT LOSSES — We maintain an allowance for credit losses related to our accounts receivable and financing receivables. We record an expense in the amount necessary to adjust the allowance for credit losses to our current estimate of expected credit losses on financial assets. We estimate expected credit losses based on our internal rating of the customer’s credit quality, our historical credit losses, current economic conditions, and other relevant factors. Prior to providing credit, we assign an internal rating for each customer’s credit quality based on the customer’s financial status, rating agency reports and other financial information. We review our internal ratings for each customer at least annually or when there is an indicator of a change in credit quality, such as a delinquency or bankruptcy. We charge off uncollectable financing receivables when we stop pursuing collection.

RECENT ACCOUNTING PRONOUNCEME_2

RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	3 Months Ended
	Jun. 30, 2020
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	CREDIT LOSSES — Note 7

REVENUES (Tables)

REVENUES (Tables)	3 Months Ended
	Jun. 30, 2020
REVENUES [Abstract]
Balance of Receivables, Contract Assets, and Contract Liabilities	Accounts receivable – trade consists entirely of amounts due from contracts with customers. In addition, we had $ million and $ million of receivables from contracts with customers included within financing receivables as of June and March respectively. The following table provides the balance of contract liabilities from contracts with customers (in s): Contract liabilities June 30, 2020 March 31, 2020 Current (included in deferred revenue) $ 56,422 $ 54,486 Non-current (included in other liabilities) $ 15,410 $ 16,395
Remaining Performance Obligations	The following table includes revenue expected to be recognized in the future related to performance obligations, primarily non-cancelable contracts for e Plus managed services, that are unsatisfied or partially unsatisfied at the end of the reporting period, in s. Remainder of Year ending March 31, 2021 $ 24,863 Year Ending March 31, 2022 13,072 Year Ending March 31, 2023 4,991 Year Ending March 31, 2024 789 Year Ending March 31, 2025 and thereafter 653 Total remaining performance obligations $ 44,368

FINANCING RECEIVABLES AND OPE_2

FINANCING RECEIVABLES AND OPERATING LEASES (Tables)	3 Months Ended
	Jun. 30, 2020
FINANCING RECEIVABLES AND OPERATING LEASES [Abstract]
Sales-type Leases	The following table provides the profit recognized for new sales-type leases at their commencement date, including modifications that are recognized on a net basis, for the months ended June and June (in s) : Profit recognized for sales-type leases Three months ended June 30, 2020 Three months ended June 30, 2019 Net sales $ 10,163 $ 4,854 Cost of sales 5,327 3,950 Gross profit $ 4,836 $ 904 The following table provides interest income in aggregate on our sales-type leases and lease income on our operating leases for the months ended June and June (in s): Three months ended June 30, 2020 Three months ended June 30, 2019 Interest income on sales-type leases $ 2,219 $ 2,095 Lease income on operating leases $ 3,838 $ 5,359
Notes Receivable Net and Investments in Leases	The following table provides a disaggregation of our financing receivables – net (in s): June 30, 2020 Notes Receivable Lease Receivables Financing Receivables Gross receivables $ 101,196 $ 64,197 $ 165,393 Unguaranteed residual value (1) - 21,534 21,534 Initial direct costs, net of amortization 552 - 552 Unearned income - (10,079 ) (10,079 ) Reserve for credit losses (2) (1,139 ) (727 ) (1,866 ) Total, net $ 100,609 $ 74,925 $ 175,534 Reported as: Current $ 79,262 $ 36,858 $ 116,120 Long-term 21,347 38,067 59,414 Total, net $ 100,609 $ 74,925 $ 175,534 (1) Includes unguaranteed residual values of $12,962 thousand that we retained after selling the related lease receivable. (2) Refer to Note 7 , “Allowance for Credit Losses” for details. March 31, 2020 Notes Receivable Lease Receivables Financing Receivables Minimum payments $ 55,417 $ 69,492 $ 124,909 Estimated unguaranteed residual value (1) - 21,862 21,862 Initial direct costs, net of amortization 212 247 459 Unearned income - (11,612 ) (11,612 ) Reserve for credit losses (2) (798 ) (610 ) (1,408 ) Total, net $ 54,831 $ 79,379 $ 134,210 Reported as: Current $ 31,181 $ 38,988 $ 70,169 Long-term 23,650 40,391 64,041 Total, net $ 54,831 $ 79,379 $ 134,210 (1) Includes unguaranteed residual values of for sales type leases, which have been sold and accounted for as sales. (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 for investments in sales-type leases as of June (in s): Remainder of the Year ending March 31, 2021 $ 38,966 Year Ending March 31, 2022 14,156 Year Ending March 31, 2023 8,381 Year Ending March 31, 2024 1,985 Year Ending March 31, 2025 and thereafter 709 Total $ 64,197
Investment in Operating Lease Equipment - Net	Operating leases—net represents leases that do not qualify as sales-type leases. The components of the operating leases—net are as follows (in thousands): OPERATING LEASES June 30, 2020 March 31, 2020 Cost of equipment under operating leases $ 21,263 $ 21,276 Accumulated depreciation (11,815 ) (11,159 ) Investment in operating lease equipment—net (1) $ 9,448 $ 10,117 (1) Amounts include estimated unguaranteed residual values of $3.0 million and $3.1 million as of June 30, 2020, and March 31, 2020, respectively.
Future Minimum Rental Payments for Operating Leases	The following table provides the future scheduled minimum lease rental payments for operating leases as of June (in s): Remainder of the Year ending March 31, 2021 $ 2,821 Year Ending March 31, 2022 2,472 Year Ending March 31, 2023 1,528 Year Ending March 31, 2024 477 Year Ending March 31, 2025 and thereafter 34 Total $ 7,332

LESSEE ACCOUNTING (Tables)

LESSEE ACCOUNTING (Tables)	3 Months Ended
	Jun. 30, 2020
LESSEE ACCOUNTING [Abstract]
Supplemental Information of Remaining Lease Terms and Discount Rates	The following table provides supplemental information about the remaining lease terms and discount rates applied as of June and March : Lease term and Discount Rate June 30, 2020 March 31, 2020 Weighted average remaining lease term (months) 36 38 Weighted average discount rate 3.9 % 3.9 %
Future Lease Payments Under Operating Leases	The following table provides our future lease payments under our operating leases as of June (in s): June 30, 2020 Remainder of the year ending March 31, 2021 $ 3,899 Year ending March 31, 2022 4,287 Year ending March 31, 2023 3,093 Year ending March 31, 2024 1,248 Year ending March 31, 2025 and thereafter 814 Total lease payments $ 13,341 Less: interest (733 ) Present value of lease liabilities $ 12,608

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	3 Months Ended
	Jun. 30, 2020
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]
Other Intangible Assets	Our other intangible assets consist of the following at June 30, 2020 and March 31, 2020 June 30, 2020 March 31, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships & other intangibles $ 63,006 $ (35,228 ) $ 27,778 $ 63,006 $ (33,000 ) $ 30,006 Capitalized software development 10,500 (6,232 ) 4,268 10,385 (5,927 ) 4,458 Total $ 73,506 $ (41,460 ) $ 32,046 $ 73,391 $ (38,927 ) $ 34,464

ALLOWANCE FOR CREDIT LOSSES (Ta

ALLOWANCE FOR CREDIT LOSSES (Tables)	3 Months Ended
	Jun. 30, 2020
ALLOWANCE FOR CREDIT LOSSES [Abstract]
Activity in Reserves for Credit Losses	The following table provides the activity in our allowance for credit losses for the three months ended June 30, 2020, and 2019 (in thousands): Accounts Receivable Notes Receivable Lease Receivables Total Balance April 1, 2020 $ 1,781 $ 798 $ 610 $ 3,189 Provision for credit losses 329 341 117 787 Write-offs and other - - - - Balance June 30, 2020 $ 2,110 $ 1,139 $ 727 $ 3,976 Accounts Receivable Notes Receivable Lease 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
Allowance for Credit Losses and Minimum Payments Associated with Notes Receivable and Lease Related Receivables Disaggregated Based on Impairment Method	The following table provides our allowance for credit losses and minimum payments associated with our notes receivables and lease-related receivables disaggregated based on our impairment method as of March 31, 2020 (in thousands): March 31, 2020 Notes Receivable Lease Allowance for credit losses: Ending balance: collectively evaluated for impairment $ 736 $ 610 Ending balance: individually evaluated for impairment 62 - Ending balance $ 798 $ 610 Minimum payments: Ending balance: collectively evaluated for impairment $ 55,005 $ 69,492 Ending balance: individually evaluated for impairment 412 - Ending balance $ 55,417 $ 69,492
Amortized Cost Basis of Financing Receivables by CQR and Credit Origination Year	The following table provides the amortized cost basis of our financing receivables by CQR and by credit origination year as of June 30, 2020 (in thousands): Amortized cost basis by origination year ending March 31, 2021 2020 2019 2018 2017 2016 and prior Total Transfers (2) Net credit exposure Notes receivable: High CQR $ 49,137 $ 15,822 $ 13,503 $ 1,024 $ 45 $ - $ 79,531 $ (56,342 ) $ 23,189 Average CQR 3,426 16,395 1,195 76 - - 21,092 (11,592 ) 9,500 Low CQR - 160 324 - - 89 573 - 573 Total $ 52,563 $ 32,377 $ 15,022 $ 1,100 $ 45 $ 89 $ 101,196 $ (67,934 ) $ 33,262 Lease receivables: High CQR $ 15,995 $ 13,812 $ 4,620 $ 1,597 $ 387 $ 16 $ 36,427 $ (18,580 ) $ 17,847 Average CQR 8,650 11,129 5,498 875 108 3 26,263 (10,123 ) 16,140 Low CQR - - - - - - - - - Total $ 24,645 24,941 $ 10,118 $ 2,472 $ 495 $ 19 $ 62,690 $ (28,703 ) $ 33,987 Total amortized cost (1) $ 77,208 $ 57,318 $ 25,140 $ 3,572 $ 540 $ 108 $ 163,886 $ (96,637 ) $ 67,249 (1) Unguaranteed residual values of $ thousand that we retained after selling the related lease receivable and initial direct costs of notes receivable of $ thousand are excluded from amortized cost. (2) Transfers consist of receivables that have been transferred to third-party financial institutions on a non-recourse basis and receivables that are in the process of being transferred to third-party financial institutions.
Aging Analysis of Financing Receivables	The following table provides an aging analysis of our financing receivables as of , (in thousands): 31-60 Days Past Due 61-90 Days Past Due > 90 Days Past Due Total Past Due Current Total Billed Unbilled Amortized Cost Notes receivable $ 933 $ 29 $ 1,316 $ 2,278 $ 22,943 $ 25,221 $ 75,975 $ 101,196 Lease receivables 707 284 1,168 2,159 4,439 6,598 56,092 62,690 Total $ 1,640 $ 313 $ 2,484 $ 4,437 $ 27,382 $ 31,819 $ 132,067 $ 163,886
Aging Analysis of Financing Receivables by CQR	The following table provides an aging analysis of our lease receivables by CQR as of March 31, (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 High CQR $ 951 $ 105 $ 922 $ 1,978 $ 1,181 $ 33,581 $ 36,740 $ (4,766 ) $ (19,823 ) $ 12,151 Average CQR 46 107 112 265 1,106 31,381 32,752 (3,646 ) (18,693 ) 10,413 Low CQR - - - - - - - - - - Total $ 997 $ 212 $ 1,034 $ 2,243 $ 2,287 $ 64,962 $ 69,492 $ (8,412 ) $ (38,516 ) $ 22,564 The following table provides an aging analysis of our notes receivables by CQR as of March 31, (in thousands): 31-60 Days Past Due 61-90 Days Past Due Greater than 90 Days Past Due Total Past Current Unbilled Notes Receivable Total Notes Receivable Non- Recourse Notes Payable Net Credit Exposure High CQR $ 1,332 $ 2 $ 280 $ 1,614 $ 2,878 $ 29,057 $ 33,549 $ (18,341 ) $ 15,208 Average CQR 140 44 142 326 1,135 19,995 21,456 (16,636 ) 4,820 Low CQR 63 - 152 215 - 197 412 - 412 Total $ 1,535 $ 46 $ 574 $ 2,155 $ 4,013 $ 49,249 $ 55,417 $ (34,977 ) $ 20,440

PROPERTY, EQUIPMENT, OTHER AS_2

PROPERTY, EQUIPMENT, OTHER ASSETS AND LIABILITIES (Tables)	3 Months Ended
	Jun. 30, 2020
PROPERTY, EQUIPMENT, OTHER ASSETS AND LIABILITIES [Abstract]
Property, Equipment, Other Assets and Liabilities	Our property, equipment, other assets and liabilities consist of the following (in thousands): June 30, 2020 March 31, 2020 Other current assets: Deposits & funds held in escrow $ 856 $ 926 Prepaid assets 4,961 7,946 Other 285 384 Total $ 6,102 $ 9,256 Property, equipment and other assets Property and equipment, net $ 7,851 $ 7,153 Deferred costs - non-current 10,366 10,957 Right-of-use assets 12,405 13,066 Other 2,403 1,420 Total $ 33,025 $ 32,596 Other current liabilities : Accrued expenses $ 11,302 $ 10,024 Accrued income taxes payable 6,659 406 Contingent consideration - current 249 220 Short-term lease liability 5,042 4,815 Other 7,431 7,521 Total $ 30,683 $ 22,986 Other liabilities : Deferred revenue $ 15,683 $ 16,693 Long-term lease liability 7,566 8,326 Other 5,097 2,708 Total $ 28,346 $ 27,727

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Jun. 30, 2020
EARNINGS PER SHARE [Abstract]
Reconciliation of Numerators and Denominators Used to Calculate Basic and Diluted Earnings per Common Share	The following table provides a reconciliation of the numerators and denominators used to calculate basic and diluted net income per common share as disclosed on our unaudited consolidated statements of operations for the three months ended June 30, 2020, and 2019, respectively Three Months Ended June 30, 2020 2019 Net earnings attributable to common shareholders - basic and diluted $ 17,360 $ 16,188 Basic and diluted common shares outstanding: Weighted average common shares outstanding — basic 13,322 13,356 Effect of dilutive shares 66 101 Weighted average shares common outstanding — diluted 13,388 13,457 Earnings per common share - basic $ 1.30 $ 1.21 Earnings per common share - diluted $ 1.30 $ 1.20

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	3 Months Ended
	Jun. 30, 2020
SHARE-BASED COMPENSATION [Abstract]
Summary of Non-vested Restricted Shares	For the three months ended June 30, 2020, we granted 716 restricted shares under the 2017 Director LTIP, and 89,873 restricted shares under the 2012 Employee LTIP. For the three months ended June 30, 2019, we granted 454 restricted shares under the 2017 Director LTIP, and 85,132 restricted shares under the 2012 Employee LTIP. A summary of the restricted shares is as follows: Number of Shares Weighted Average Grant- date Fair Value Nonvested April 1, 2020 193,580 $ 73.74 Granted 90,589 $ 71.80 Vested (104,071 ) $ 69.19 Forfeited - $ - Nonvested June 30, 2020 180,098 $ 75.39

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Jun. 30, 2020
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]
Fair Value Hierarchy of Financial Instruments	We account for the fair values of our assets and liabilities in accordance with Codification Topic 820, Fair Value Measurement and Disclosure. Fair Value Measurement Using Recorded Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) June 30 , 2020 Assets: Money market funds $ 20,128 $ 20,128 $ - $ - Liabilities: Contingent consideration $ 249 $ - $ - $ 249 March 31 , 2020 Assets: Money market funds $ 128 $ 128 $ - $ - Liabilities: Contingent consideration $ 220 $ - $ - $ 220

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	3 Months Ended
	Jun. 30, 2020
BUSINESS COMBINATIONS [Abstract]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed	Our sum of consideration transferred was $ million consisting of $ million paid in cash at closing plus $ million that was paid primarily during the year ended March 31, 2020, upon the collection of certain accounts receivable and less $ million that was repaid to us in December 2019 due to a working capital adjustment. Our allocation of the purchase consideration to the assets acquired and liabilities assumed is presented below (in thousands): Acquisition Date Amount Accounts receivable $ 9,208 Other assets 743 Identified intangible assets 5,720 Accounts payable and other current liabilities (6,715 ) Performance obligation (1,140 ) Total identifiable net assets 7,816 Goodwill 7,461 Total purchase consideration $ 15,277

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	3 Months Ended
	Jun. 30, 2020
SEGMENT REPORTING [Abstract]
Segment Reporting Information, by Reportable Segment	Our reportable segment information was as follows (in thousands): Three Months Ended June 30, 2020 June 30, 2019 Technology Financing Total Technology Financing Total Sales Product $ 293,433 $ 13,807 $ 307,240 $ 322,764 $ 12,837 $ 335,601 Service 47,791 - 47,791 45,771 - 45,771 Net sales 341,224 13,807 355,031 368,535 12,837 381,372 Cost of Sales Product 224,543 2,091 226,634 258,054 2,009 260,063 Service 29,840 - 29,840 28,670 - 28,670 Total cost of sales 254,383 2,091 256,474 286,724 2,009 288,733 Gross Profit 86,841 11,716 98,557 81,811 10,828 92,639 Selling, general, and administrative 65,556 3,911 69,467 62,667 3,120 65,787 Depreciation and amortization 3,488 28 3,516 3,407 56 3,463 Interest and financing costs 265 312 577 - 628 628 Operating expenses 69,309 4,251 73,560 66,074 3,804 69,878 Operating income 17,532 7,465 24,997 15,737 7,024 22,761 Other income 98 (45 ) Earnings before tax $ 25,095 $ 22,716 Net Sales Contracts with customers $ 333,987 $ 960 $ 334,947 $ 363,681 $ 789 $ 364,470 Financing and other 7,237 12,847 20,084 4,854 12,048 16,902 Net Sales $ 341,224 $ 13,807 $ 355,031 $ 368,535 $ 12,837 $ 381,372 Selected Financial Data - Statement of Cash Flow Depreciation and amortization $ 3,634 $ 1,145 $ 4,779 $ 1,339 $ 3,625 $ 4,964 Purchases of property, equipment and operating lease equipment $ 2,048 $ 229 $ 2,277 $ 1,249 $ 269 $ 1,518 Selected Financial Data - Balance Sheet Total assets $ 834,264 $ 224,598 $ 1,058,862 $ 658,692 $ 216,121 $ 874,813
Technology Segment Disaggregation of Revenue	We analyze net sales for our technology segment by customer end market and by vendor, as opposed to discrete product and service categories, which are summarized below (in thousands): Three Months Ended June 30, 2020 2019 Customer end market: Technology $ 69,967 $ 76,180 Telecom, Media & Entertainment 56,652 62,466 Financial Services 47,421 48,241 SLED 70,563 71,190 Healthcare 46,535 56,109 All others 50,086 54,349 Net sales 341,224 368,535 Less: Revenue from financing and other (7,237 ) (4,854 ) Revenue from contracts with customers $ 333,987 $ 363,681 Three Months Ended June 30, 2020 2019 Vendor Cisco Systems $ 127,932 $ 146,181 NetApp 15,421 13,427 HP Inc. & HPE 17,038 23,113 Dell / EMC 31,081 13,781 Arista Networks 6,820 20,950 Juniper Networks 13,579 7,054 All others 129,353 144,029 Net sales 341,224 368,535 Less: Revenue from financing and other (7,237 ) (4,854 ) Revenue from contracts with customers $ 333,987 $ 363,681

ORGANIZATION AND SUMMARY OF S_3

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Net Sales [Member] | Cisco Systems [Member] | Technology Segment [Member]
Concentration of risk [Abstract]
Percentage of concentration risk	37.00%	40.00%

REVENUES (Details)

REVENUES (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020
Contract with Customer, Asset and Liability [Abstract]
Accounts receivable - trade	$ 35,100		$ 33,100
Current (included in deferred revenue)	56,422		54,486
Non-current (included in other liabilities)	15,410		$ 16,395
Revenue recognized from the beginning contract liability	15,600	$ 15,800
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	44,368
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 24,863
Expected timing of satisfaction, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 13,072
Expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 4,991
Expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 789
Expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-04-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 653
Expected timing of satisfaction, period

FINANCING RECEIVABLES AND OPE_3

FINANCING RECEIVABLES AND OPERATING LEASES (Details) - USD ($) $ in Thousands		3 Months Ended
		Jun. 30, 2020		Jun. 30, 2019	Mar. 31, 2020		Mar. 31, 2019
Profit Recognized for Sales-type Leases [Abstract]
Net sales		$ 10,163		$ 4,854
Cost of sales		5,327		3,950
Gross Profit		4,836		904
Interest Income on Sales-type Leases [Abstract]
Interest Income on sales-type leases		2,219		2,095
Lease income on operating leases		3,838		5,359
Financing Receivables [Abstract]
Estimated unguaranteed residual value		12,962
Initial direct costs, net of amortization		552
Reserve for credit losses		(3,976)		(2,889)	$ (3,189)		$ (2,614)
Reported as [Abstract]
Current		116,120			70,169
Future scheduled minimum lease payments [Abstract]
Remainder of year ending March 31, 2021		38,966
Year ending March 31, 2022		14,156
Year ending March 31, 2023		8,381
Year ending March 31, 2024 and thereafter		1,985
Year ending March 31, 2025 and thereafter		709
Total		64,197
Estimated unguaranteed residual values for direct financing lease		12,962			14,972
Investment in operating lease equipment - net [Abstract]
Cost of equipment under operating leases		21,263			21,276
Accumulated depreciation		(11,815)			(11,159)
Investment in operating lease equipment - net	[1]	9,448			10,117
Unguaranteed residual value of operating lease equipment net		3,000			3,100
Future scheduled minimum lease rental payments [Abstract]
Remainder of year ending March 31, 2021		2,821
Year ending March 31, 2022		2,472
Year ending March 31, 2023		1,528
Year ending March 31, 2024 and thereafter		477
Year ending March 31, 2025 and thereafter		34
Total		7,332
Collateral for non-recourse notes payable - Finance receivables		69,700			34,600
Collateral for non-recourse notes payable - Operating leases		6,100			6,700
Gain on sale of financing receivables		2,500		3,300
Proceeds from sale of financing receivables		73,200		69,900
Contract liabilities - servicing of financial assets		400			400
Notes Receivables [Member]
Financing Receivables [Abstract]
Minimum payments		101,196			55,417
Estimated unguaranteed residual value		0	[2]		0	[3]
Initial direct costs, net of amortization	[4]	552			212
Unearned income		0			0
Reserve for credit losses		(1,139)	[4]	(520)	(798)	[4]	(505)
Total, net		100,609			54,831
Reported as [Abstract]
Current		79,262			31,181
Long-term		21,347			23,650
Total, net		100,609			54,831
Lease Receivables [Member]
Financing Receivables [Abstract]
Minimum payments		64,197			69,492
Estimated unguaranteed residual value		21,534	[2]		21,862	[3]
Initial direct costs, net of amortization	[4]	0			247
Unearned income		(10,079)			(11,612)
Reserve for credit losses		(727)	[4]	$ (512)	(610)	[4]	$ (530)
Total, net		74,925			79,379
Reported as [Abstract]
Current		36,858			38,988
Long-term		38,067			40,391
Total, net		74,925			79,379
Financing Receivables [Member]
Financing Receivables [Abstract]
Minimum payments		165,393			124,909
Estimated unguaranteed residual value		21,534	[2]		21,862	[3]
Initial direct costs, net of amortization	[4]	552			459
Unearned income		(10,079)			(11,612)
Reserve for credit losses	[4]	(1,866)			(1,408)
Total, net		175,534			134,210
Reported as [Abstract]
Current		116,120			70,169
Long-term		59,414			64,041
Total, net		$ 175,534			$ 134,210
[1]	Amounts include estimated unguaranteed residual values of $3.0 million and $3.1 million as of June 30, 2020, and March 31, 2020, respectively.
[2]	Includes unguaranteed residual values of $12,962 thousand that we retained after selling the related lease receivable.
[3]	Includes unguaranteed residual values of $14,972 thousand for sales type leases, which have been sold and accounted for as sales.
[4]	Refer to Note 7, “Allowance for Credit Losses” for details.

LESSEE ACCOUNTING (Details)

LESSEE ACCOUNTING (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Mar. 31, 2020
Lessee, Operating Lease [Abstract]
Rent expense	$ 1,600
Lease Term and Discount Rate [Abstract]
Weighted average remaining lease term (months)	36 months	38 months
Weighted average discount rate	3.90%	3.90%
Future Lease Payments under Operating Leases [Abstract]
Remainder of year ending March 31, 2021	$ 3,899
Year ending March 31, 2022	4,287
Year ending March 31, 2023	3,093
Year ending March 31, 2024	1,248
Year ending March 31, 2025 and thereafter	814
Total lease payments	13,341
Less: Interest	(733)
Present value of lease liabilities	$ 12,608
Maximum [Member]
Lessee, Operating Lease [Abstract]
Operating lease term	6 years

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS, Goodwill (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2020USD ($)Unit	Mar. 31, 2020USD ($)
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]
Number of reporting units | Unit	1
Carrying value of goodwill | $	$ 118,097	$ 118,097

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS, Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020
Other Intangible Assets [Abstract]
Gross carrying amount	$ 73,506		$ 73,391
Accumulated amortization	(41,460)		(38,927)
Net carrying amount	32,046		34,464
Total amortization expense for other intangible assets	2,500	$ 2,500
Customer Relationships and Other Intangibles [Member]
Other Intangible Assets [Abstract]
Gross carrying amount	63,006		63,006
Accumulated amortization	(35,228)		(33,000)
Net carrying amount	$ 27,778		30,006
Customer Relationships and Other Intangibles [Member] | Minimum [Member]
Other Intangible Assets [Abstract]
Estimated useful life	5 years
Customer Relationships and Other Intangibles [Member] | Maximum [Member]
Other Intangible Assets [Abstract]
Estimated useful life	10 years
Capitalized Software Development [Member]
Other Intangible Assets [Abstract]
Gross carrying amount	$ 10,500		10,385
Accumulated amortization	(6,232)		(5,927)
Net carrying amount	$ 4,268		$ 4,458
Estimated useful life	5 years

ALLOWANCE FOR CREDIT LOSSES, Ac

ALLOWANCE FOR CREDIT LOSSES, Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020		Jun. 30, 2019
Activity in reserves for credit losses [Roll Forward]
Balance	$ 3,189		$ 2,614
Provision for credit losses	787		281
Write-offs and other	0		(6)
Balance	3,976		2,889
Accounts Receivable [Member]
Activity in reserves for credit losses [Roll Forward]
Balance	1,781		1,579
Provision for credit losses	329		281
Write-offs and other	0		(3)
Balance	2,110		1,857
Notes Receivable [Member]
Activity in reserves for credit losses [Roll Forward]
Balance	798	[1]	505
Provision for credit losses	341		16
Write-offs and other	0		(1)
Balance	1,139	[1]	520
Lease Receivables [Member]
Activity in reserves for credit losses [Roll Forward]
Balance	610	[1]	530
Provision for credit losses	117		(16)
Write-offs and other	0		(2)
Balance	$ 727	[1]	$ 512
[1]	Refer to Note 7, “Allowance for Credit Losses” for details.

ALLOWANCE FOR CREDIT LOSSES, Di

ALLOWANCE FOR CREDIT LOSSES, Disaggregated Based on Impairment (Details) - USD ($) $ in Thousands	Jun. 30, 2020		Mar. 31, 2020		Jun. 30, 2019	Mar. 31, 2019
Allowance for credit losses [Abstract]
Ending balance	$ 3,976		$ 3,189		$ 2,889	$ 2,614
Notes Receivable [Member]
Allowance for credit losses [Abstract]
Ending balance: collectively evaluated for impairment			736
Ending balance: individually evaluated for impairment			62
Ending balance	1,139	[1]	798	[1]	520	505
Minimum payments [Abstract]
Ending balance: collectively evaluated for impairment			55,005
Ending balance: individually evaluated for impairment			412
Ending balance			55,417
Lease Receivables [Member]
Allowance for credit losses [Abstract]
Ending balance: collectively evaluated for impairment			610
Ending balance: individually evaluated for impairment			0
Ending balance	$ 727	[1]	610	[1]	$ 512	$ 530
Minimum payments [Abstract]
Ending balance: collectively evaluated for impairment			69,492
Ending balance: individually evaluated for impairment			0
Ending balance			$ 69,492
[1]	Refer to Note 7, “Allowance for Credit Losses” for details.

ALLOWANCE FOR CREDIT LOSSES, Am

ALLOWANCE FOR CREDIT LOSSES, Amortized Cost Basis (Details) - USD ($) $ in Thousands		3 Months Ended
		Jun. 30, 2020		Mar. 31, 2020
Credit Risk Profile, Segregated by Class [Abstract]
2021	[1]	$ 77,208
2020	[1]	57,318
2019	[1]	25,140
2018	[1]	3,572
2017	[1]	540
2016 and prior	[1]	108
Total	[1]	163,886
Transfers	[1],[2]	(96,637)
Net credit exposure	[1]	67,249
Unguaranteed residual value		12,962
Lease receivable and initial direct costs of notes receivable, net of amortization		552
Notes Receivable [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2021		52,563
2020		32,377
2019		15,022
2018		1,100
2017		45
2016 and prior		89
Total		101,196
Transfers	[2]	(67,934)
Net credit exposure		33,262
Unguaranteed residual value		0	[3]	$ 0	[4]
Lease receivable and initial direct costs of notes receivable, net of amortization	[5]	552		212
Lease Receivables [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2021		24,645
2020		24,941
2019		10,118
2018		2,472
2017		495
2016 and prior		19
Total		62,690
Transfers	[2]	(28,703)
Net credit exposure		33,987
Unguaranteed residual value		21,534	[3]	21,862	[4]
Lease receivable and initial direct costs of notes receivable, net of amortization	[5]	$ 0		$ 247
High CQR [Member] | Maximum [Member]
Credit Risk Profile, Segregated by Class [Abstract]
Loss rate on credit quality rating		1.00%
High CQR [Member] | Notes Receivable [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2021		$ 49,137
2020		15,822
2019		13,503
2018		1,024
2017		45
2016 and prior		0
Total		79,531
Transfers	[2]	(56,342)
Net credit exposure		23,189
High CQR [Member] | Lease Receivables [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2021		15,995
2020		13,812
2019		4,620
2018		1,597
2017		387
2016 and prior		16
Total		36,427
Transfers	[2]	(18,580)
Net credit exposure		$ 17,847
Average CQR [Member] | Minimum [Member]
Credit Risk Profile, Segregated by Class [Abstract]
Loss rate on credit quality rating		2.00%
Average CQR [Member] | Maximum [Member]
Credit Risk Profile, Segregated by Class [Abstract]
Loss rate on credit quality rating		10.00%
Average CQR [Member] | Notes Receivable [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2021		$ 3,426
2020		16,395
2019		1,195
2018		76
2017		0
2016 and prior		0
Total		21,092
Transfers	[2]	(11,592)
Net credit exposure		9,500
Average CQR [Member] | Lease Receivables [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2021		8,650
2020		11,129
2019		5,498
2018		875
2017		108
2016 and prior		3
Total		26,263
Transfers	[2]	(10,123)
Net credit exposure		$ 16,140
Low CQR [Member] | Minimum [Member]
Credit Risk Profile, Segregated by Class [Abstract]
Loss rate on credit quality rating		10.00%
Low CQR [Member] | Maximum [Member]
Credit Risk Profile, Segregated by Class [Abstract]
Loss rate on credit quality rating		100.00%
Low CQR [Member] | Notes Receivable [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2021		$ 0
2020		160
2019		324
2018		0
2017		0
2016 and prior		89
Total		573
Transfers	[2]	0
Net credit exposure		573
Low CQR [Member] | Lease Receivables [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2021		0
2020		0
2019		0
2018		0
2017		0
2016 and prior		0
Total		0
Transfers	[2]	0
Net credit exposure		$ 0
[1]	Unguaranteed residual values of $12,962 thousand that we retained after selling the related lease receivable and initial direct costs of notes receivable of $552 thousand are excluded from amortized cost.
[2]	Transfers consist of receivables that have been transferred to third-party financial institutions on a non-recourse basis and receivables that are in the process of being transferred to third-party financial institutions.
[3]	Includes unguaranteed residual values of $12,962 thousand that we retained after selling the related lease receivable.
[4]	Includes unguaranteed residual values of $14,972 thousand for sales type leases, which have been sold and accounted for as sales.
[5]	Refer to Note 7, “Allowance for Credit Losses” for details.

ALLOWANCE FOR CREDIT LOSSES, Ag

ALLOWANCE FOR CREDIT LOSSES, Aging Analysis (Details) - USD ($) $ in Thousands		Jun. 30, 2020	Mar. 31, 2020
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due		$ 4,437
Current		27,382
Billed		31,819
Unbilled		132,067
Total	[1]	163,886
Non-recourse notes payable		(275,000)
Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due		2,278	$ 2,155
Current		22,943	4,013
Billed		25,221
Unbilled		75,975
Total		101,196
Unbilled minimum lease payments			49,249
Total minimum lease payments		101,196	55,417
Non-recourse notes payable			(34,977)
Net credit exposure			20,440
Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due		2,159	2,243
Current		4,439	2,287
Billed		6,598
Unbilled		56,092
Total		62,690
Unbilled minimum lease payments			64,962
Total minimum lease payments		64,197	69,492
Unearned income			(8,412)
Non-recourse notes payable			(38,516)
Net credit exposure			22,564
High CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			1,614
Current			2,878
Total		79,531
Unbilled minimum lease payments			29,057
Total minimum lease payments			33,549
Non-recourse notes payable			(18,341)
Net credit exposure			15,208
High CQR [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			1,978
Current			1,181
Total		36,427
Unbilled minimum lease payments			33,581
Total minimum lease payments			36,740
Unearned income			(4,766)
Non-recourse notes payable			(19,823)
Net credit exposure			12,151
Average CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			326
Current			1,135
Total		21,092
Unbilled minimum lease payments			19,995
Total minimum lease payments			21,456
Non-recourse notes payable			(16,636)
Net credit exposure			4,820
Average CQR [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			265
Current			1,106
Total		26,263
Unbilled minimum lease payments			31,381
Total minimum lease payments			32,752
Unearned income			(3,646)
Non-recourse notes payable			(18,693)
Net credit exposure			10,413
Low CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			215
Current			0
Total		573
Unbilled minimum lease payments			197
Total minimum lease payments			412
Non-recourse notes payable			0
Net credit exposure			412
Low CQR [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			0
Current			0
Total		0
Unbilled minimum lease payments			0
Total minimum lease payments			0
Unearned income			0
Non-recourse notes payable			0
Net credit exposure			0
31 to 60 Days Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due		1,640
31 to 60 Days Past Due [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due		933	1,535
31 to 60 Days Past Due [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due		707	997
31 to 60 Days Past Due [Member] | High CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			1,332
31 to 60 Days Past Due [Member] | High CQR [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			951
31 to 60 Days Past Due [Member] | Average CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			140
31 to 60 Days Past Due [Member] | Average CQR [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			46
31 to 60 Days Past Due [Member] | Low CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			63
31 to 60 Days Past Due [Member] | Low CQR [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			0
61 to 90 Days Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due		313
61 to 90 Days Past Due [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due		29	46
61 to 90 Days Past Due [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due		284	212
61 to 90 Days Past Due [Member] | High CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			2
61 to 90 Days Past Due [Member] | High CQR [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			105
61 to 90 Days Past Due [Member] | Average CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			44
61 to 90 Days Past Due [Member] | Average CQR [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			107
61 to 90 Days Past Due [Member] | Low CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			0
61 to 90 Days Past Due [Member] | Low CQR [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			0
Greater than 90 Days Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due		2,484
Greater than 90 Days Past Due [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due		1,316	574
Greater than 90 Days Past Due [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due		$ 1,168	1,034
Greater than 90 Days Past Due [Member] | High CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			280
Greater than 90 Days Past Due [Member] | High CQR [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			922
Greater than 90 Days Past Due [Member] | Average CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			142
Greater than 90 Days Past Due [Member] | Average CQR [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			112
Greater than 90 Days Past Due [Member] | Low CQR [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			152
Greater than 90 Days Past Due [Member] | Low CQR [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due			$ 0
[1]	Unguaranteed residual values of $12,962 thousand that we retained after selling the related lease receivable and initial direct costs of notes receivable of $552 thousand are excluded from amortized cost.

PROPERTY, EQUIPMENT, OTHER AS_3

PROPERTY, EQUIPMENT, OTHER ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020
Other current assets [Abstract]
Deposits & funds held in escrow	$ 856	$ 926
Prepaid assets	4,961	7,946
Other	285	384
Total other current assets	6,102	9,256
Property, equipment and other assets [Abstract]
Property and equipment, net	7,851	7,153
Deferred costs - non-current	10,366	10,957
Right-of-use assets	12,405	13,066
Other	2,403	1,420
Total	$ 33,025	$ 32,596
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsNoncurrent	us-gaap:OtherAssetsNoncurrent
Other current liabilities [Abstract]
Accrued expenses	$ 11,302	$ 10,024
Accrued income taxes payable	6,659	406
Contingent consideration - current	249	220
Short-term lease liability	5,042	4,815
Other	7,431	7,521
Total	$ 30,683	$ 22,986
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Other liabilities [Abstract]
Deferred revenue	$ 15,683	$ 16,693
Long-term lease liability	7,566	8,326
Other	5,097	2,708
Total	$ 28,346	$ 27,727
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent

NOTES PAYABLE AND CREDIT FACI_2

NOTES PAYABLE AND CREDIT FACILITY (Details) $ in Thousands	May 15, 2020USD ($)	Jun. 30, 2020USD ($)Component	Jul. 23, 2020USD ($)	Mar. 31, 2020USD ($)
Recourse Notes Payable [Abstract]
Recourse notes payable-current		$ 37,271		$ 37,256
Maximum borrowing capacity under credit facility		275,000
Account Receivable Component [Member]
Recourse Notes Payable [Abstract]
Maximum borrowing capacity under credit facility	$ 275,000	100,000
Recourse Note Payable [Member]
Recourse Notes Payable [Abstract]
Recourse notes payable-current		$ 2,300		$ 2,300
Weighted average interest rate of notes		2.55%		2.55%
Interest rates of notes		2.75%		3.49%
Non-Recourse Note Payable [Member]
Recourse Notes Payable [Abstract]
Weighted average interest rate of notes		3.54%		3.84%
Non-recourse Notes Payable [Abstract]
Non-recourse notes payable		$ 61,200		$ 35,500
WFCDF [Member]
Non-recourse Notes Payable [Abstract]
Number of components under credit facility | Component		2
Guarantor obligations for credit facility, maximum		$ 10,500
Period of notice required to terminate credit facility at quarter end		45 days
Period of notice required to terminate credit facility at year end		90 days
WFCDF [Member] | Minimum [Member]
Non-recourse Notes Payable [Abstract]
Period of temporary increase of aggregate limit on credit facility		30 days
WFCDF [Member] | Maximum [Member]
Non-recourse Notes Payable [Abstract]
Aggregate period of temporary increase of aggregate limit on credit facility in a calendar year		150 days
WFCDF [Member] | Floor Plan Component [Member]
Non-recourse Notes Payable [Abstract]
Amount outstanding under credit facility		$ 175,700		127,400
WFCDF [Member] | Account Receivable Component [Member]
Recourse Notes Payable [Abstract]
Maximum borrowing capacity under credit facility	$ 100,000
Non-recourse Notes Payable [Abstract]
Amount outstanding under credit facility		$ 35,000		$ 35,000
Basis spread on reference rate	2.00%
WFCDF [Member] | Account Receivable Component [Member] | LIBOR [Member]
Non-recourse Notes Payable [Abstract]
Debt instrument term of variable rate		1 month
Basis spread on reference rate	0.75%
Election under WFCDF [Member]
Recourse Notes Payable [Abstract]
Maximum borrowing capacity under credit facility	$ 350,000
Election under WFCDF [Member] | Subsequent Event [Member]
Recourse Notes Payable [Abstract]
Maximum borrowing capacity under credit facility			$ 350,000
Election under WFCDF [Member] | Minimum [Member] | Subsequent Event [Member]
Non-recourse Notes Payable [Abstract]
Period of temporary increase of aggregate limit on credit facility		30 days

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share, Basic and Diluted [Abstract]
Net earnings attributable to common shareholders - basic and diluted	$ 17,360	$ 16,188
Basic and diluted common shares outstanding [Abstract]
Weighted average common shares outstanding - basic (in shares)	13,322	13,356
Effect of dilutive shares (in shares)	66	101
Weighted average shares common outstanding - diluted (in shares)	13,388	13,457
Earnings per common share - basic (in dollars per share)	$ 1.30	$ 1.21
Earnings per common share - diluted (in dollars per share)	$ 1.30	$ 1.20

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	May 20, 2020	May 24, 2019
STOCKHOLDERS' EQUITY [Abstract]
Authorized number of shares under stock repurchase program (in shares)			500,000	500,000
Common stock repurchased during the period (in shares)	0	148,790
Common stock repurchased during the period		$ 10.7
Shares repurchased to satisfy tax withholding obligation (in shares)	37,640	38,811
Value of shares repurchased to satisfy tax withholding obligation	$ 2.7	$ 2.8

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Additional Disclosures [Abstract]
Vested share-based awards withheld to satisfy income tax obligations (in shares)	37,640	38,811
Vested share-based awards withheld to satisfy income tax obligations	$ 2.7	$ 2.8
Restricted Stock [Member]
Number of Shares [Roll Forward]
Nonvested at beginning of period (in shares)	193,580
Granted (in shares)	90,589
Vested (in shares)	(104,071)
Forfeited (in shares)	0
Nonvested at end of period (in shares)	180,098
Weighted Average Grant-date Fair Value [Roll Forward]
Nonvested at beginning of period (in dollars per share)	$ 73.74
Granted (in dollars per share)	71.80
Vested (in dollars per share)	69.19
Forfeited (in dollars per share)	0
Nonvested at end of period (in dollars per share)	$ 75.39
2017 Director LTIP [Member] | Restricted Stock [Member]
Number of Shares [Roll Forward]
Granted (in shares)	716	454
2012 Employee LTIP [Member] | Restricted Stock [Member]
Number of Shares [Roll Forward]
Granted (in shares)	89,873	85,132
Additional Disclosures [Abstract]
Vested share-based awards withheld to satisfy income tax obligations (in shares)	37,640
Vested share-based awards withheld to satisfy income tax obligations	$ 2.7

SHARE-BASED COMPENSATION, Compe

SHARE-BASED COMPENSATION, Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Compensation Expense [Abstract]
Share-based compensation expense	$ 1,885	$ 1,919
401(k) Profit Sharing Plan [Abstract]
Contribution to profit sharing plan	700	$ 700
Restricted Stock [Member]
Compensation Expense [Abstract]
Unrecognized compensation expense	$ 12,800
Unrecognized compensation expense, period for recognition	36 months

INCOME TAXES (Details)

INCOME TAXES (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2020USD ($)
INCOME TAXES [Abstract]
Additions or reductions to gross unrecognized tax benefits	$ 0

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Mar. 31, 2020
Assets [Abstract]
Money market funds	$ 20,128		$ 128
Liabilities [Abstract]
Contingent consideration	249		220
Adjustment to fair value of contingent consideration	29	$ 401
Payments of contingent consideration	0	$ 0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets [Abstract]
Money market funds	20,128		128
Liabilities [Abstract]
Contingent consideration	0		0
Significant Other Observable Inputs (Level 2) [Member]
Assets [Abstract]
Money market funds	0		0
Liabilities [Abstract]
Contingent consideration	0		0
Significant Unobservable Inputs (Level 3) [Member]
Assets [Abstract]
Money market funds	0		0
Liabilities [Abstract]
Contingent consideration	$ 249		$ 220

BUSINESS COMBINATIONS (Details)

BUSINESS COMBINATIONS (Details) - USD ($) $ in Thousands	Aug. 23, 2019	Dec. 31, 2019	Jun. 30, 2020	Mar. 31, 2020
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Goodwill			$ 118,097	$ 118,097
ABS Technology [Member]
Business Combination [Abstract]
Cash portion of the acquisition	$ 13,800
Contingent consideration payable				$ 1,700
Repayment from acquiree		$ 200
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Accounts receivable	9,208
Other assets	743
Identified intangible assets	5,720
Accounts payable and other current liabilities	(6,715)
Performance obligation	(1,140)
Total identifiable net assets	7,816
Goodwill	7,461
Total purchase consideration	$ 15,277
ABS Technology [Member] | Customer Relationships [Member]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Estimated useful lives			7 years

SEGMENT REPORTING, Reportable S

SEGMENT REPORTING, Reportable Segment Information (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2020USD ($)Segment	Jun. 30, 2019USD ($)	Mar. 31, 2020USD ($)
SEGMENT REPORTING [Abstract]
Number of business segments | Segment	2
Reportable Segment Information [Abstract]
Net sales	$ 355,031	$ 381,372
Cost of Sales [Abstract]
Cost of sales	256,474	288,733
Gross profit	98,557	92,639
Selling, general, and administrative	69,467	65,787
Depreciation and amortization	3,516	3,463
Interest and financing costs	577	628
Operating expenses	73,560	69,878
Operating income	24,997	22,761
Other income (expense)	98	(45)
Earnings before tax	25,095	22,716
Net Sales [Abstract]
Contracts with customers	334,947	364,470
Financing and other	20,084	16,902
Net sales	355,031	381,372
Selected Financial Data - Statement of Cash Flow [Abstract]
Depreciation and amortization	4,779	4,964
Purchases of property, equipment and operating lease equipment	2,277	1,518
Selected Financial Data - Balance Sheet [Abstract]
Total assets	1,058,862	874,813	$ 909,113
Product [Member]
Reportable Segment Information [Abstract]
Net sales	307,240	335,601
Cost of Sales [Abstract]
Cost of sales	226,634	260,063
Net Sales [Abstract]
Net sales	307,240	335,601
Service [Member]
Reportable Segment Information [Abstract]
Net sales	47,791	45,771
Cost of Sales [Abstract]
Cost of sales	29,840	28,670
Net Sales [Abstract]
Net sales	47,791	45,771
Technology Segment [Member]
Reportable Segment Information [Abstract]
Net sales	341,224	368,535
Net Sales [Abstract]
Contracts with customers	333,987	363,681
Financing and other	7,237	4,854
Net sales	341,224	368,535
Operating Segments [Member] | Technology Segment [Member]
Reportable Segment Information [Abstract]
Net sales	341,224	368,535
Cost of Sales [Abstract]
Cost of sales	254,383	286,724
Gross profit	86,841	81,811
Selling, general, and administrative	65,556	62,667
Depreciation and amortization	3,488	3,407
Interest and financing costs	265	0
Operating expenses	69,309	66,074
Operating income	17,532	15,737
Net Sales [Abstract]
Contracts with customers	333,987	363,681
Financing and other	7,237	4,854
Net sales	341,224	368,535
Selected Financial Data - Statement of Cash Flow [Abstract]
Depreciation and amortization	3,634	1,339
Purchases of property, equipment and operating lease equipment	2,048	1,249
Selected Financial Data - Balance Sheet [Abstract]
Total assets	834,264	658,692
Operating Segments [Member] | Technology Segment [Member] | Product [Member]
Reportable Segment Information [Abstract]
Net sales	293,433	322,764
Cost of Sales [Abstract]
Cost of sales	224,543	258,054
Net Sales [Abstract]
Net sales	293,433	322,764
Operating Segments [Member] | Technology Segment [Member] | Service [Member]
Reportable Segment Information [Abstract]
Net sales	47,791	45,771
Cost of Sales [Abstract]
Cost of sales	29,840	28,670
Net Sales [Abstract]
Net sales	47,791	45,771
Operating Segments [Member] | Financing Segment [Member]
Reportable Segment Information [Abstract]
Net sales	13,807	12,837
Cost of Sales [Abstract]
Cost of sales	2,091	2,009
Gross profit	11,716	10,828
Selling, general, and administrative	3,911	3,120
Depreciation and amortization	28	56
Interest and financing costs	312	628
Operating expenses	4,251	3,804
Operating income	7,465	7,024
Net Sales [Abstract]
Contracts with customers	960	789
Financing and other	12,847	12,048
Net sales	13,807	12,837
Selected Financial Data - Statement of Cash Flow [Abstract]
Depreciation and amortization	1,145	3,625
Purchases of property, equipment and operating lease equipment	229	269
Selected Financial Data - Balance Sheet [Abstract]
Total assets	224,598	216,121
Operating Segments [Member] | Financing Segment [Member] | Product [Member]
Reportable Segment Information [Abstract]
Net sales	13,807	12,837
Cost of Sales [Abstract]
Cost of sales	2,091	2,009
Net Sales [Abstract]
Net sales	13,807	12,837
Operating Segments [Member] | Financing Segment [Member] | Service [Member]
Reportable Segment Information [Abstract]
Net sales	0	0
Cost of Sales [Abstract]
Cost of sales	0	0
Net Sales [Abstract]
Net sales	$ 0	$ 0

SEGMENT REPORTING, Technology S

SEGMENT REPORTING, Technology Segment Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Abstract]
Net sales	$ 355,031	$ 381,372
Less: Revenue from financing and other	(20,084)	(16,902)
Revenue from contracts with customers	334,947	364,470
Technology Segment [Member]
Disaggregation of Revenue [Abstract]
Net sales	341,224	368,535
Less: Revenue from financing and other	(7,237)	(4,854)
Revenue from contracts with customers	333,987	363,681
Technology Segment [Member] | Technology [Member]
Disaggregation of Revenue [Abstract]
Net sales	69,967	76,180
Technology Segment [Member] | Telecom, Media & Entertainment [Member]
Disaggregation of Revenue [Abstract]
Net sales	56,652	62,466
Technology Segment [Member] | Financial Services [Member]
Disaggregation of Revenue [Abstract]
Net sales	47,421	48,241
Technology Segment [Member] | SLED [Member]
Disaggregation of Revenue [Abstract]
Net sales	70,563	71,190
Technology Segment [Member] | Health Care [Member]
Disaggregation of Revenue [Abstract]
Net sales	46,535	56,109
Technology Segment [Member] | All others [Member]
Disaggregation of Revenue [Abstract]
Net sales	50,086	54,349
Technology Segment [Member] | Cisco Systems [Member]
Disaggregation of Revenue [Abstract]
Net sales	127,932	146,181
Technology Segment [Member] | NetApp [Member]
Disaggregation of Revenue [Abstract]
Net sales	15,421	13,427
Technology Segment [Member] | HP Inc. & HPE [Member]
Disaggregation of Revenue [Abstract]
Net sales	17,038	23,113
Technology Segment [Member] | Dell / EMC [Member]
Disaggregation of Revenue [Abstract]
Net sales	31,081	13,781
Technology Segment [Member] | Arista Networks [Member]
Disaggregation of Revenue [Abstract]
Net sales	6,820	20,950
Technology Segment [Member] | Juniper Networks [Member]
Disaggregation of Revenue [Abstract]
Net sales	13,579	7,054
Technology Segment [Member] | All others [Member]
Disaggregation of Revenue [Abstract]
Net sales	$ 129,353	$ 144,029