ePlus (PLUS) 10-Q 4 Feb 21 2021 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 31, 2020	Feb. 01, 2021
Cover [Abstract]
Entity Registrant Name	ePlus inc.
Entity Central Index Key	0001022408
Current Fiscal Year End Date	--03-31
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Document Transition Report	false
Entity File Number	1-34167
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	54-1817218
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
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		13,503,352

UNAUDITED CONSOLIDATED BALANCE

UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Current assets:
Cash and cash equivalents	$ 86,463	$ 86,231
Accounts receivable-trade, net	460,385	374,998
Accounts receivable-other, net	34,355	36,570
Inventories	81,304	50,268
Financing receivables-net, current	126,692	70,169
Deferred costs	28,939	22,306
Other current assets	8,514	9,256
Total current assets	826,652	649,798
Financing receivables and operating leases-net	87,342	74,158
Property, equipment and other assets	43,387	32,596
Goodwill	126,945	118,097
Other intangible assets-net	41,628	34,464
TOTAL ASSETS	1,125,954	909,113
Current liabilities:
Accounts payable	159,175	82,919
Accounts payable-floor plan	177,084	127,416
Salaries and commissions payable	33,197	30,952
Deferred revenue	68,466	55,480
Recourse notes payable-current	0	37,256
Non-recourse notes payable-current	62,021	29,630
Other current liabilities	31,095	22,986
Total current liabilities	531,038	386,639
Non-recourse notes payable-long term	6,312	5,872
Deferred tax liability-net	3,763	2,730
Other liabilities	39,832	27,727
TOTAL LIABILITIES	580,945	422,968
COMMITMENTS AND CONTINGENCIES (Note 10)
STOCKHOLDERS' EQUITY
Preferred stock, $0.01 per share par value; 2,000 shares authorized; none outstanding	0	0
Common stock, $0.01 per share par value; 25,000 shares authorized; 13,503 outstanding at December 31, 2020 and 13,500 outstanding at March 31, 2020	145	144
Additional paid-in capital	150,624	145,197
Treasury stock, at cost, 993 shares at December 31, 2020 and 896 shares at March 31, 2020	(75,372)	(68,424)
Retained earnings	469,063	410,219
Accumulated other comprehensive income-foreign currency translation adjustment	549	(991)
Total Stockholders' Equity	545,009	486,145
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 1,125,954	$ 909,113

UNAUDITED CONSOLIDATED BALANC_2

UNAUDITED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Dec. 31, 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)	13,503	13,500
Treasury stock, shares (in shares)	993	896

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Net sales
Total	$ 427,604	$ 428,991	$ 1,215,716	$ 1,221,928
Cost of sales
Total	329,453	325,295	920,046	922,562
Gross profit	98,151	103,696	295,670	299,366
Selling, general, and administrative	65,390	73,090	201,746	209,400
Depreciation and amortization	3,143	3,647	10,000	10,667
Interest and financing costs	355	694	1,179	1,898
Operating expenses	68,888	77,431	212,925	221,965
Operating income	29,263	26,265	82,745	77,401
Other income (expense)	813	997	1,095	912
Earnings before tax	30,076	27,262	83,840	78,313
Provision for income taxes	8,438	7,712	24,996	22,477
Net earnings	$ 21,638	$ 19,550	$ 58,844	$ 55,836
Net earnings per common share-basic (in dollars per share)	$ 1.62	$ 1.47	$ 4.41	$ 4.19
Net earnings per common share-diluted (in dollars per share)	$ 1.62	$ 1.46	$ 4.39	$ 4.16
Weighted average common shares outstanding-basic (in shares)	13,332	13,320	13,342	13,329
Weighted average common shares outstanding-diluted (in shares)	13,378	13,378	13,402	13,410
Product [Member]
Net sales
Total	$ 375,512	$ 378,569	$ 1,066,408	$ 1,077,667
Cost of sales
Total	297,514	293,209	827,111	832,135
Services [Member]
Net sales
Total	52,092	50,422	149,308	144,261
Cost of sales
Total	$ 31,939	$ 32,086	$ 92,935	$ 90,427

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
NET EARNINGS	$ 21,638	$ 19,550	$ 58,844	$ 55,836
OTHER COMPREHENSIVE INCOME, NET OF TAX:
Foreign currency translation adjustments	983	682	1,540	69
Other comprehensive income (loss)	983	682	1,540	69
TOTAL COMPREHENSIVE INCOME	$ 22,621	$ 20,232	$ 60,384	$ 55,905

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities:
Net earnings	$ 58,844	$ 55,836
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	13,762	15,217
Reserve for credit losses	1,920	504
Share-based compensation expense	5,427	6,019
Deferred taxes	1,033	(3)
Payments from lessees directly to lenders-operating leases	(25)	(44)
Gain on disposal of property, equipment, and operating lease equipment	(408)	(614)
Changes in:
Accounts receivable	(67,989)	(102,093)
Inventories-net	(28,340)	(10,429)
Financing receivables-net	(67,112)	(87,633)
Deferred costs and other assets	(15,865)	(18,424)
Accounts payable-trade	70,726	33,574
Salaries and commissions payable, deferred revenue, and other liabilities	33,271	33,362
Net cash provided by (used in) operating activities	5,244	(74,728)
Cash flows from investing activities:
Proceeds from sale of property, equipment, and operating lease equipment	670	1,404
Purchases of property, equipment and operating lease equipment	(4,227)	(7,209)
Cash used in acquisitions, net of cash acquired	(27,102)	(14,239)
Net cash used in investing activities	(30,659)	(20,044)
Cash flows from financing activities:
Borrowings of non-recourse and recourse notes payable	31,698	75,557
Repayments of non-recourse and recourse notes payable	(41,870)	(9,854)
Repurchase of common stock	(6,948)	(13,692)
Repayments of financing of acquisitions	(556)	(5,763)
Net borrowings on floor plan facility	44,058	28,400
Net cash provided by financing activities	26,382	74,648
Effect of exchange rate changes on cash	(735)	(137)
Net increase (decrease) in cash and cash equivalents	232	(20,261)
Cash and cash equivalents, beginning of period	86,231	79,816
Cash and cash equivalents, end of period	86,463	59,555
Supplemental disclosures of cash flow information:
Cash paid for interest	929	1,721
Cash paid for income taxes	21,257	19,519
Cash paid for amounts included in the measurement of lease liabilities	4,460	4,113
Schedule of non-cash investing and financing activities:
Purchases of property, equipment, and operating lease equipment	(221)	(425)
Consideration for acquisitions	0	(1,037)
Borrowing of non-recourse and recourse notes payable	77,289	111,234
Repayments of non-recourse and recourse notes payable	(25)	(44)
Vesting of share-based compensation	7,926	8,990
New operating lease assets obtained in exchange for lease obligations	$ 1,097	$ 6,035

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
Share-based compensation (in shares)	0
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, 2019	$ 143	137,243	(53,999)	341,137	(271)	424,253
Balance (in shares) at Mar. 31, 2019	13,611
Net earnings						55,836
Balance at Dec. 31, 2019	$ 144	143,262	(67,691)	396,973	(202)	472,486
Balance (in shares) at Dec. 31, 2019	13,513
Balance at Jun. 30, 2019	$ 144	139,162	(67,454)	357,325	(534)	428,643
Balance (in shares) at Jun. 30, 2019	13,509
Issuance of restricted stock awards	$ 0	0	0	0	0	0
Issuance of restricted stock awards (in shares)	7
Share-based compensation	$ 0	2,135	0	0	0	2,135
Share-based compensation (in shares)	(3)
Repurchase of common stock	$ 0	0	$ (237)	0	0	(237)
Repurchase of common stock (in shares)			0
Net earnings	0	0	$ 0	20,098	0	20,098
Foreign currency translation adjustment	0	0	0	0	(350)	(350)
Balance at Sep. 30, 2019	$ 144	141,297	(67,691)	377,423	(884)	450,289
Balance (in shares) at Sep. 30, 2019	13,513
Issuance of restricted stock awards	$ 0	0	0	0	0	0
Issuance of restricted stock awards (in shares)	0
Share-based compensation	$ 0	1,965	0	0	0	1,965
Share-based compensation (in shares)	0
Repurchase of common stock	$ 0	0	$ 0	0	0	0
Repurchase of common stock (in shares)			0
Net earnings	0	0	$ 0	19,550	0	19,550
Foreign currency translation adjustment	0	0	0	0	682	682
Balance at Dec. 31, 2019	$ 144	143,262	(67,691)	396,973	(202)	472,486
Balance (in shares) at Dec. 31, 2019	13,513
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
Share-based compensation (in shares)	0
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
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
Net earnings						$ 58,844
Balance at Dec. 31, 2020	$ 145	150,624	(75,372)	469,063	549	$ 545,009
Balance (in shares) at Dec. 31, 2020	13,503					13,503
Balance at Jun. 30, 2020	$ 145	147,082	(71,127)	427,579	(954)	$ 502,725
Balance (in shares) at Jun. 30, 2020	13,553
Issuance of restricted stock awards	$ 0	0	0	0	0	0
Issuance of restricted stock awards (in shares)	8
Share-based compensation	$ 0	1,763	0	0	0	1,763
Share-based compensation (in shares)	0
Repurchase of common stock	$ 0	0	$ (1,784)	0	0	(1,784)
Repurchase of common stock (in shares)			(24)
Net earnings	0	0	$ 0	19,846	0	19,846
Foreign currency translation adjustment	0	0	0	0	520	520
Balance at Sep. 30, 2020	$ 145	148,845	(72,911)	447,425	(434)	523,070
Balance (in shares) at Sep. 30, 2020	13,537
Issuance of restricted stock awards	$ 0	0	0	0	0	0
Issuance of restricted stock awards (in shares)	1
Share-based compensation	$ 0	1,779	0	0	0	1,779
Share-based compensation (in shares)	0
Repurchase of common stock	$ 0	0	$ (2,461)	0	0	(2,461)
Repurchase of common stock (in shares)			(35)
Net earnings	0	0	$ 0	21,638	0	21,638
Foreign currency translation adjustment	0	0	0	0	983	983
Balance at Dec. 31, 2020	$ 145	$ 150,624	$ (75,372)	$ 469,063	$ 549	$ 545,009
Balance (in shares) at Dec. 31, 2020	13,503					13,503

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Dec. 31, 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 the United Kingdom (“UK”), and other European countries. BASIS OF PRESENTATION — The e acquisition. INTERIM FINANCIAL STATEMENTS — The unaudited consolidated financial statements for the nine months ended December 31, 2020, and 2019, 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 nine months ended December 31, 2020, and 2019 are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year ending March 31, 2021, 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 10-K for the year ended March 31, 2020 (“2020 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 32% and 41% of our technology segment’s net sales for the three months ended December 31, 2020, and 2019, respectively, and 37% and 41% of our technology segment’s net sales for the nine months ended December 31, 2020, and 2019, respectively. 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	9 Months Ended
	Dec. 31, 2020
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	2. RECENT ACCOUNTING PRONOUNCEMENTS CREDIT LOSSES — Note 7

REVENUES

REVENUES	9 Months Ended
	Dec. 31, 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 December 31 and March respectively. The following table provides the balance of contract liabilities from contracts with customers (in s): December 31, 2020 March 31, 2020 Current (included in deferred revenue) $ 67,845 $ 54,486 Non-current (included in other liabilities) $ 28,441 $ 16,395 Revenue recognized from the beginning contract liability balance was $9.6 million and $36.5 million for the three and nine months ended December 31, 2020, respectively, and $15.9 million and $45.3 million for the three and nine months ended December 31, 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 $ 13,381 Year Ending March 31, 2022 30,971 Year Ending March 31, 2023 15,062 Year Ending March 31, 2024 6,821 Year Ending March 31, 2025 700 Year Ending March 31, 2026 and thereafter 184 Total remaining performance obligations $ 67,119 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	9 Months Ended
	Dec. 31, 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 sales-type leases at their commencement date, including modifications that are recognized on a net basis, for the three and nine months ended December 31, 2020, and 2019 (in thousands): Three months ended December 31, Nine months ended December 31, 2020 2019 2020 2019 Net sales $ 4,182 $ 5,710 $ 22,000 $ 13,697 Cost of sales 3,362 4,807 14,091 11,459 Gross profit $ 820 $ 903 $ 7,909 $ 2,238 The following table provides interest income in aggregate on our sales-type leases and lease income on our operating leases for the three and nine months ended December 31, 2020, and 2019 (in thousands): Three months ended December 31, Nine months ended December 31, 2020 2019 2020 2019 Interest income on sales-type leases $ 1,956 $ 1,272 $ 6,059 $ 4,862 Lease income on operating leases $ 3,623 $ 4,489 $ 11,361 $ 14,908 FINANCING RECEIVABLES—NET The following tables provide a disaggregation of our financing receivables – net (in s): December 31, 2020 Notes Receivable Lease Receivables Financing Receivables Gross receivables $ 111,321 $ 89,629 $ 200,950 Unguaranteed residual value (1) - 20,388 20,388 Initial direct costs, net of amortization 464 - 464 Unearned income - (12,133 ) (12,133 ) Reserve for credit losses (2) (1,280 ) (1,088 ) (2,368 ) Total, net $ 110,505 $ 96,796 $ 207,301 Reported as: Current $ 74,585 $ 52,107 $ 126,692 Long-term 35,920 44,689 80,609 Total, net $ 110,505 $ 96,796 $ 207,301 (1) Includes unguaranteed residual values of $12,314 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 December (in s): Remainder of the Year ending March 31, 2021 $ 40,211 Year Ending March 31, 2022 24,111 Year Ending March 31, 2023 16,337 Year Ending March 31, 2024 5,992 Year Ending March 31, 2025 and thereafter 2,978 Total $ 89,629 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): December 31, 2020 March 31, 2020 Cost of equipment under operating leases $ 18,182 $ 21,276 Accumulated depreciation (11,449 ) (11,159 ) Investment in operating lease equipment—net (1) $ 6,733 $ 10,117 (1) Amounts include estimated unguaranteed residual values of $2.6 million and $3.1 million as of December 31, 2020, and March 31, 2020, respectively. The following table provides the future scheduled minimum lease rental payments for operating leases as of December 31 (in s): Remainder of the Year ending March 31, 2021 $ 625 Year Ending March 31, 2022 2,007 Year Ending March 31, 2023 1,456 Year Ending March 31, 2024 479 Year Ending March 31, 2025 and thereafter 37 Total $ 4,604 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 December 31, 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 December 31, 2020, and 2019, we recognized net gains of $3.0 million and $9.5 million, respectively, and total proceeds from these sales were $67.5 million and $246.0 million, respectively. For the year to date periods ended December 31, 2020, and 2019, we recognized net gains of $10.1 million and $17.0 million, respectively, and total proceeds from these sales were $259.2 million and $414.6 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 December 31, 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 December 31, 2020, our total potential liability that could result from these indemnities is immaterial. We believe the likelihood of making any such payments to be remote.

LESSEE ACCOUNTING

LESSEE ACCOUNTING	9 Months Ended
	Dec. 31, 2020
LESSEE ACCOUNTING [Abstract]
LESSEE ACCOUNTING	5. LESSEE ACCOUNTING We lease office space for periods up to 6 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 $1.5 million and $1.6 million for the three months ending December 31, 2020, and December 31, 2019, respectively, and $4.6 million and $4.7 million for the nine months ending December 31, 2020, and December 31, 2019, respectively, as part of selling, general, and administrative expenses. The following table provides supplemental information about the remaining lease terms and discount rates applied as of December 31 and March : Lease term and Discount Rate December 31, 2020 March 31, 2020 Weighted average remaining lease term (months) 33 38 Weighted average discount rate 3.8 % 3.9 % The following table provides our future lease payments under our operating leases as of December 31, (in s): December 31, 2020 Remainder of the year ending March 31, 2021 $ 967 Year ending March 31, 2022 4,390 Year ending March 31, 2023 3,166 Year ending March 31, 2024 1,323 Year ending March 31, 2025 and thereafter 917 Total lease payments $ 10,763 Less: interest (530 ) Present value of lease liabilities $ 10,233

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	9 Months Ended
	Dec. 31, 2020
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	6. GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL The following table summarizes the changes in the carrying amount of goodwill for the nine months ended December 31, 2020 (in s): Nine months ended December 31, 2020 Goodwill Accumulated Impairment Loss Net Carrying Amount Beginning balance $ 126,770 $ (8,673 ) $ 118,097 Acquisitions 8,643 - 8,643 Foreign currency translations 205 - 205 Ending balance $ 135,618 $ (8,673 ) $ 126,945 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. Our entire balance as of December 31, 2020 and March 31, 2020 relates to our technology reportable segment, which we also determined to be reporting unit. Refer to Note 16 “Business Combinations” for details. 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. In our annual test as of October 1, 2020, we performed a qualitative assessment of goodwill and concluded that, more likely than not, the fair value of our technology reporting unit continued to substantially exceed 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 O : December 31, 2020 March 31, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships & other intangibles $ 77,307 $ (39,371 ) $ 37,936 $ 63,006 $ (33,000 ) $ 30,006 Capitalized software development 10,537 (6,845 ) 3,692 10,385 (5,927 ) 4,458 Total $ 87,844 $ (46,216 ) $ 41,628 $ 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 for the three months ended December 31, 2020 and for the three months ended December 31, 2019 and and for the nine months ended December 31, 2020 and 2019 respectively. The change in the gross carrying amount of other intangible asset is due to the addition of a customer relationship intangible asset of from our acquisition of SMP. Refer to Note 16 “Business Combinations” for details.

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES	9 Months Ended
	Dec. 31, 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 nine months ended December 31, 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 866 570 484 1,920 Write-offs and other (46 ) (88 ) (6 ) (140 ) Balance December 31, 2020 $ 2,601 $ 1,280 $ 1,088 $ 4,969 Accounts Receivable Notes Receivable Lease Receivables Total Balance April 1, 2019 $ 1,579 $ 505 $ 530 $ 2,614 Provision for credit losses 107 283 114 504 Write-offs and other (304 ) - (2 ) (306 ) Balance December 31, 2019 $ 1,382 $ 788 $ 642 $ 2,812 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 Receivables 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 December 31, 2020 (in thousands): Amortized cost basis by origination year ending March 31, 2021 2020 2019 2018 2017 Total Transfers (2) Net credit exposure Notes receivable: High CQR $ 82,424 $ 6,952 $ 1,259 $ 856 $ 27 $ 91,518 $ (60,295 ) $ 31,223 Average CQR 14,922 3,945 576 36 - 19,479 (6,999 ) 12,480 Low CQR - - 324 - - 324 - 324 Total $ 97,346 $ 10,897 $ 2,159 $ 892 $ 27 $ 111,321 $ (67,294 ) $ 44,027 Lease receivables: High CQR $ 39,177 $ 8,137 $ 2,273 $ 713 $ 299 $ 50,599 $ (18,555 ) $ 32,044 Average CQR 25,059 7,709 1,751 403 49 34,971 (4,792 ) 30,179 Low CQR - - - - - - - - Total $ 64,236 $ 15,846 $ 4,024 $ 1,116 $ 348 $ 85,570 $ (23,347 ) $ 62,223 Total amortized cost (1) $ 161,582 $ 26,743 $ 6,183 $ 2,008 $ 375 $ 196,891 $ (90,641 ) $ 106,250 (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 $ 406 $ 2,264 $ 967 $ 3,637 $ 8,839 $ 12,476 $ 98,845 $ 111,321 Lease receivables 4,272 1,832 1,295 7,399 3,584 10,983 74,587 85,570 Total $ 4,678 $ 4,096 $ 2,262 $ 11,036 $ 12,423 $ 23,459 $ 173,432 $ 196,891 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 receivable 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 were not significant as of December 31, 2020, and March 31, 2020.

PROPERTY, EQUIPMENT, OTHER ASSE

PROPERTY, EQUIPMENT, OTHER ASSETS AND LIABILITIES	9 Months Ended
	Dec. 31, 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): December 31, 2020 March 31, 2020 Other current assets: Deposits & funds held in escrow $ 376 $ 926 Prepaid assets 7,626 7,946 Other 512 384 Total $ 8,514 $ 9,256 Property, equipment and other assets Property and equipment, net $ 7,921 $ 7,153 Deferred costs - non-current 20,650 10,957 Right-of-use assets 9,986 13,066 Other 4,830 1,420 Total $ 43,387 $ 32,596 Other current liabilities : Accrued expenses $ 13,054 $ 10,024 Accrued income taxes payable 2,249 406 Contingent consideration - current - 220 Short-term lease liability 4,292 4,815 Other 11,500 7,521 Total $ 31,095 $ 22,986 Other liabilities : Deferred revenue $ 28,708 $ 16,693 Long-term lease liability 5,941 8,326 Other 5,183 2,708 Total $ 39,832 $ 27,727

CREDIT FACILITY AND NOTES PAYAB

CREDIT FACILITY AND NOTES PAYABLE	9 Months Ended
	Dec. 31, 2020
CREDIT FACILITY AND NOTES PAYABLE [Abstract]
CREDIT FACILITY AND NOTES PAYABLE	9. CREDIT FACILITY AND NOTES PAYABLE Credit Facility Within our technology segment, e Under the floor plan component, we had outstanding balances of $177.1 million and $127.4 million as of December 31, 2020 and March 31, 2020 respectively, and are presented as accounts payable – floorplan. The fair value of the outstanding balance under the credit facility was equal to its carrying value as of December 31, 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 million. Additionally, we have an election to temporarily increase the aggregate limit to $350 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 December 31, 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. Our borrowing availability under the credit facility varies based upon the value of the receivables and inventory of e Plus Technology, inc., and certain of its subsidiaries. Under the accounts receivable component, we had outstanding balance as of December 31, 2020 and outstanding as of March 31, 2020 The accounts receivable component is presented as recourse notes payable – current. 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 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. 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 March 31, 2020, we had $2.3 million of recourse borrowings that were collateralized by investments in notes receivable and leases. We had recourse borrowings as of December 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 December 31, 2020, and March 31, 2020, we had $68.3 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 3.57% and 3.84%, as of December 31, 2020, and March 31, 2020, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Dec. 31, 2020
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	10. COMMITMENTS AND CONTINGENCIES Legal Proceedings From time to time, we may be involved in routine legal proceedings, as well as demands, claims and threatened litigation that arise in the normal course of our business and that have not been fully resolved. The ultimate amount of liability, if any, for any claims of any type (either alone or in the aggregate) may materially and adversely affect our financial condition, results of operations and liquidity. In addition, the ultimate outcome of any litigation is inherently uncertain. Any outcome, whether favorable or unfavorable, may materially and adversely affect us due to legal costs and expenses, diversion of management attention and other factors. We expense legal costs in the period incurred. We cannot assure that additional contingencies of a legal nature or contingencies having legal aspects will not be asserted against us in the future, and these matters could relate to prior, current or future transactions or events.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Dec. 31, 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 and nine months ended December 31, 2020, and 2019, respectively (in thousands, except per share data). Three Months Ended December 31, Nine Months Ended December 31, 2020 2019 2020 2019 Net earnings attributable to common shareholders - basic and diluted $ 21,638 $ 19,550 $ 58,844 $ 55,836 Basic and diluted common shares outstanding: Weighted average common shares outstanding — basic 13,332 13,320 13,342 13,329 Effect of dilutive shares 46 58 60 81 Weighted average shares common outstanding — diluted 13,378 13,378 13,402 13,410 Earnings per common share - basic $ 1.62 $ 1.47 $ 4.41 $ 4.19 Earnings per common share - diluted $ 1.62 $ 1.46 $ 4.39 $ 4.16

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Dec. 31, 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 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 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 nine months ended December 31, 2020, we purchased 59,101 shares of our outstanding common stock at a value of $4.2 million under the share repurchase plan; we also 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 nine months ended December 31, 2019, we purchased 149,044 shares of our outstanding common stock at a value of $10.7 million under the share repurchase plan; we also purchased 41,817 shares of common stock at a value of $3.0 million to satisfy tax withholding obligations relating to the vesting of employees’ restricted stock.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
	Dec. 31, 2020
SHARE-BASED COMPENSATION [Abstract]
SHARE-BASED COMPENSATION	13. SHARE-BASED COMPENSATION Share-Based Plans As of December 31, 2020, we had share-based awards outstanding under the following Restricted Stock Activity For the nine months ended December 31, 2020, we granted 9,871 restricted shares under the 2017 Director LTIP, and 89,873 restricted shares under the 2012 Employee LTIP. For the nine months ended December 31, 2019, we granted 8,646 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 99,744 $ 71.82 Vested (110,292 ) $ 70.01 Forfeited - $ - Nonvested December 31, 2020 183,032 $ 74.94 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 nine months ended December 31, 2020, we 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 December 31, 2020, and 2019, we recognized $1.8 million and $2.0 million of total share-based compensation expense, respectively. During the nine months ended December 31, 2020, and 2019, we recognized $5.4 million and $6.0 million of total share-based compensation expense, respectively. Unrecognized compensation expense related to non-vested restricted stock was $9.9 million as of December 31, 2020, which will be fully recognized over the next 30 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. ur estimated contribution expense for the plan was $ million .

INCOME TAXES

INCOME TAXES	9 Months Ended
	Dec. 31, 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 December 31, 2020, and December 31, 2019. We had no additions or reductions to our gross unrecognized tax benefits during the nine months ended December 31, 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	9 Months Ended
	Dec. 31, 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) December 31 , 2020 Assets: Money market funds $ 5,134 $ 5,134 $ - $ - March 31 , 2020 Assets: Money market funds $ 128 $ 128 $ - $ - Liabilities: Contingent consideration $ 220 $ - $ - $ 220 For the three and nine months ended December 31, 2020, we did not record significant adjustments to our liability for contingent consideration arising from a past business combination. In August 2020, we paid $219 thousand to fully satisfy the obligations of our contingent consideration arrangement. For the nine months ended December 31, 2019, we recorded adjustments to operating expenses that increased the fair value of our liability for contingent consideration by $1.5 million. There were no adjustments to operating expenses for the three months ended December 31, 2019. In September 2019, we reached a settlement in full of one of our contingent consideration arrangements in the amount of $9.6 million, which was paid in October 2019. Additionally, in September 2019, we paid $0.5 million to satisfy certain current obligations in another of these arrangements.

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	9 Months Ended
	Dec. 31, 2020
BUSINESS COMBINATIONS [Abstract]
BUSINESS COMBINATIONS	16. BUSINESS COMBINATIONS Systems Management Planning (SMP) On December 31, 2020, our subsidiary, e e e Our preliminary sum of consideration transferred was $27.1 million consisting of $29.3 million paid in cash at closing less $2.2 million that is due back to us related to a working capital adjustment. Our preliminary allocation of the purchase consideration to the assets acquired and liabilities assumed is presented below (in thousands): Acquisition Date Amount Accounts receivable $ 14,329 Other assets 3,290 Identified intangible assets 14,270 Accounts payable and other current liabilities (11,250 ) Performance obligations (2,180 ) Total identifiable net assets 18,459 Goodwill 8,643 Total purchase consideration $ 27,102 The identified intangible assets of $14.3 million consists of customer relationships with an estimated useful life of seven 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 $8.6 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, 2020, is not material. As of our filing date, our accounting for this business combination is incomplete in respect to determining the final consideration transferred and the fair value of assets acquired, and liabilities assumed. 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	9 Months Ended
	Dec. 31, 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 for the three- and nine-month periods ended December 31, 2020, and 2019 are summarized in the following tables (in thousands): Three Months Ended December 31, 2020 December 31, 2019 Technology Financing Total Technology Financing Total Sales Product $ 363,478 $ 12,034 $ 375,512 $ 360,206 $ 18,363 $ 378,569 Service 52,092 - 52,092 50,422 - 50,422 Net sales 415,570 12,034 427,604 410,628 18,363 428,991 Cost of Sales Product 295,310 2,204 297,514 290,980 2,229 293,209 Service 31,939 - 31,939 32,086 - 32,086 Total cost of sales 327,249 2,204 329,453 323,066 2,229 325,295 Gross Profit 88,321 9,830 98,151 87,562 16,134 103,696 Selling, general, and administrative 62,377 3,013 65,390 67,759 5,331 73,090 Depreciation and amortization 3,115 28 3,143 3,619 28 3,647 Interest and financing costs - 355 355 - 694 694 Operating expenses 65,492 3,396 68,888 71,378 6,053 77,431 Operating income 22,829 6,434 29,263 16,184 10,081 26,265 Other income 813 997 Earnings before tax $ 30,076 $ 27,262 Net Sales Contracts with customers $ 411,175 $ 1,904 $ 413,079 $ 404,918 $ 1,689 $ 406,607 Financing and other 4,395 10,130 14,525 5,710 16,674 22,384 Net Sales $ 415,570 $ 12,034 $ 427,604 $ 410,628 $ 18,363 $ 428,991 Selected Financial Data - Statement of Cash Flow Depreciation and amortization $ 3,311 $ 991 $ 4,302 $ 3,691 $ 1,449 $ 5,140 Purchases of property, equipment and operating lease equipment $ 959 $ 1 $ 960 $ 786 $ 1,535 $ 2,321 Selected Financial Data - Balance Sheet Total assets $ 887,684 $ 238,270 $ 1,125,954 $ 733,174 $ 219,434 $ 952,608 Nine Months Ended December 31, 2020 December 31, 2019 Technology Financing Total Technology Financing Total Sales Product $ 1,026,845 $ 39,563 $ 1,066,408 $ 1,032,620 $ 45,047 $ 1,077,667 Service 149,308 - 149,308 144,261 - 144,261 Net sales 1,176,153 39,563 1,215,716 1,176,881 45,047 1,221,928 Cost of Sales Product 820,859 6,252 827,111 825,509 6,626 832,135 Service 92,935 - 92,935 90,427 - 90,427 Total cost of sales 913,794 6,252 920,046 915,936 6,626 922,562 Gross Profit 262,359 33,311 295,670 260,945 38,421 299,366 Selling, general, and administrative 190,519 11,227 201,746 197,615 11,785 209,400 Depreciation and amortization 9,916 84 10,000 10,555 112 10,667 Interest and financing costs 266 913 1,179 - 1,898 1,898 Operating expenses 200,701 12,224 212,925 208,170 13,795 221,965 Operating income 61,658 21,087 82,745 52,775 24,626 77,401 Other income 1,095 912 Earnings before tax $ 83,840 $ 78,313 Net Sales Contracts with customers $ 1,157,519 $ 3,892 $ 1,161,411 $ 1,163,184 $ 3,889 $ 1,167,073 Financing and other 18,634 35,671 54,305 13,697 41,158 54,855 Net Sales $ 1,176,153 $ 39,563 $ 1,215,716 $ 1,176,881 $ 45,047 $ 1,221,928 Selected Financial Data - Statement of Cash Flow Depreciation and amortization $ 10,444 $ 3,318 $ 13,762 $ 10,974 $ 4,243 $ 15,217 Purchases of property, equipment and operating lease equipment $ 4,060 $ 167 $ 4,227 $ 3,461 $ 3,748 $ 7,209 Selected Financial Data - Balance Sheet Total assets $ 887,684 $ 238,270 $ 1,125,954 $ 733,174 $ 219,434 $ 952,608 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 for the three and nine month periods ended December 31, 2020, and 2019 in the tables below (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2020 2019 2020 2019 Customer end market: Technology $ 57,346 $ 77,841 $ 203,634 $ 251,523 Telecom, Media & Entertainment 123,441 84,707 277,020 218,217 Financial Services 60,610 56,395 154,763 149,241 State and local government and educational institutions 50,703 55,908 197,758 198,964 Healthcare 44,706 60,275 150,494 176,202 All others 78,764 75,502 192,484 182,734 Net sales 415,570 410,628 1,176,153 1,176,881 Less: Revenue from financing and other (4,395 ) (5,710 ) (18,634 ) (13,697 ) Revenue from contracts with customers $ 411,175 $ 404,918 $ 1,157,519 $ 1,163,184 Three Months Ended December 31, Nine Months Ended December 31, 2020 2019 2020 2019 Vendor Cisco Systems $ 132,290 $ 169,265 $ 433,388 $ 488,051 NetApp 13,861 15,799 39,196 38,997 HP Inc. & HPE 14,100 15,853 47,533 57,952 Dell EMC 34,027 12,025 80,457 38,300 Arista Networks 22,157 12,862 42,420 60,578 Juniper Networks 29,781 27,419 68,076 58,843 All others 169,354 157,405 465,083 434,160 Net sales 415,570 410,628 1,176,153 1,176,881 Less: Revenue from financing and other (4,395 ) (5,710 ) (18,634 ) (13,697 ) Revenue from contracts with customers $ 411,175 $ 404,918 $ 1,157,519 $ 1,163,184 Financing Segment Disaggregation of Revenue We analyze our revenues within our financing segment based on the nature of the arrangement. Our revenues from contracts with customers within our financing segment consist entirely of proceeds from the sale of off-lease equipment.

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Dec. 31, 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 nine months ended December 31, 2020, and 2019, 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 nine months ended December 31, 2020, and 2019 are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year ending March 31, 2021, 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 10-K for the year ended March 31, 2020 (“2020 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 32% and 41% of our technology segment’s net sales for the three months ended December 31, 2020, and 2019, respectively, and 37% and 41% of our technology segment’s net sales for the nine months ended December 31, 2020, and 2019, respectively.
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)	9 Months Ended
	Dec. 31, 2020
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	CREDIT LOSSES — Note 7

REVENUES (Tables)

REVENUES (Tables)	9 Months Ended
	Dec. 31, 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 December 31 and March respectively. The following table provides the balance of contract liabilities from contracts with customers (in s): December 31, 2020 March 31, 2020 Current (included in deferred revenue) $ 67,845 $ 54,486 Non-current (included in other liabilities) $ 28,441 $ 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 $ 13,381 Year Ending March 31, 2022 30,971 Year Ending March 31, 2023 15,062 Year Ending March 31, 2024 6,821 Year Ending March 31, 2025 700 Year Ending March 31, 2026 and thereafter 184 Total remaining performance obligations $ 67,119

FINANCING RECEIVABLES AND OPE_2

FINANCING RECEIVABLES AND OPERATING LEASES (Tables)	9 Months Ended
	Dec. 31, 2020
FINANCING RECEIVABLES AND OPERATING LEASES [Abstract]
Sales-type Leases	The following table provides the profit recognized for sales-type leases at their commencement date, including modifications that are recognized on a net basis, for the three and nine months ended December 31, 2020, and 2019 (in thousands): Three months ended December 31, Nine months ended December 31, 2020 2019 2020 2019 Net sales $ 4,182 $ 5,710 $ 22,000 $ 13,697 Cost of sales 3,362 4,807 14,091 11,459 Gross profit $ 820 $ 903 $ 7,909 $ 2,238 The following table provides interest income in aggregate on our sales-type leases and lease income on our operating leases for the three and nine months ended December 31, 2020, and 2019 (in thousands): Three months ended December 31, Nine months ended December 31, 2020 2019 2020 2019 Interest income on sales-type leases $ 1,956 $ 1,272 $ 6,059 $ 4,862 Lease income on operating leases $ 3,623 $ 4,489 $ 11,361 $ 14,908
Notes Receivable Net and Investments in Leases	The following tables provide a disaggregation of our financing receivables – net (in s): December 31, 2020 Notes Receivable Lease Receivables Financing Receivables Gross receivables $ 111,321 $ 89,629 $ 200,950 Unguaranteed residual value (1) - 20,388 20,388 Initial direct costs, net of amortization 464 - 464 Unearned income - (12,133 ) (12,133 ) Reserve for credit losses (2) (1,280 ) (1,088 ) (2,368 ) Total, net $ 110,505 $ 96,796 $ 207,301 Reported as: Current $ 74,585 $ 52,107 $ 126,692 Long-term 35,920 44,689 80,609 Total, net $ 110,505 $ 96,796 $ 207,301 (1) Includes unguaranteed residual values of $12,314 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 December (in s): Remainder of the Year ending March 31, 2021 $ 40,211 Year Ending March 31, 2022 24,111 Year Ending March 31, 2023 16,337 Year Ending March 31, 2024 5,992 Year Ending March 31, 2025 and thereafter 2,978 Total $ 89,629
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): December 31, 2020 March 31, 2020 Cost of equipment under operating leases $ 18,182 $ 21,276 Accumulated depreciation (11,449 ) (11,159 ) Investment in operating lease equipment—net (1) $ 6,733 $ 10,117 (1) Amounts include estimated unguaranteed residual values of $2.6 million and $3.1 million as of December 31, 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 December 31 (in s): Remainder of the Year ending March 31, 2021 $ 625 Year Ending March 31, 2022 2,007 Year Ending March 31, 2023 1,456 Year Ending March 31, 2024 479 Year Ending March 31, 2025 and thereafter 37 Total $ 4,604

LESSEE ACCOUNTING (Tables)

LESSEE ACCOUNTING (Tables)	9 Months Ended
	Dec. 31, 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 December 31 and March : Lease term and Discount Rate December 31, 2020 March 31, 2020 Weighted average remaining lease term (months) 33 38 Weighted average discount rate 3.8 % 3.9 %
Future Lease Payments Under Operating Leases	The following table provides our future lease payments under our operating leases as of December 31, (in s): December 31, 2020 Remainder of the year ending March 31, 2021 $ 967 Year ending March 31, 2022 4,390 Year ending March 31, 2023 3,166 Year ending March 31, 2024 1,323 Year ending March 31, 2025 and thereafter 917 Total lease payments $ 10,763 Less: interest (530 ) Present value of lease liabilities $ 10,233

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	9 Months Ended
	Dec. 31, 2020
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]
Changes in Goodwill	The following table summarizes the changes in the carrying amount of goodwill for the nine months ended December 31, 2020 (in s): Nine months ended December 31, 2020 Goodwill Accumulated Impairment Loss Net Carrying Amount Beginning balance $ 126,770 $ (8,673 ) $ 118,097 Acquisitions 8,643 - 8,643 Foreign currency translations 205 - 205 Ending balance $ 135,618 $ (8,673 ) $ 126,945
Other Intangible Assets	O : December 31, 2020 March 31, 2020 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Customer relationships & other intangibles $ 77,307 $ (39,371 ) $ 37,936 $ 63,006 $ (33,000 ) $ 30,006 Capitalized software development 10,537 (6,845 ) 3,692 10,385 (5,927 ) 4,458 Total $ 87,844 $ (46,216 ) $ 41,628 $ 73,391 $ (38,927 ) $ 34,464

ALLOWANCE FOR CREDIT LOSSES (Ta

ALLOWANCE FOR CREDIT LOSSES (Tables)	9 Months Ended
	Dec. 31, 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 nine months ended December 31, 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 866 570 484 1,920 Write-offs and other (46 ) (88 ) (6 ) (140 ) Balance December 31, 2020 $ 2,601 $ 1,280 $ 1,088 $ 4,969 Accounts Receivable Notes Receivable Lease Receivables Total Balance April 1, 2019 $ 1,579 $ 505 $ 530 $ 2,614 Provision for credit losses 107 283 114 504 Write-offs and other (304 ) - (2 ) (306 ) Balance December 31, 2019 $ 1,382 $ 788 $ 642 $ 2,812
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 Receivables 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 December 31, 2020 (in thousands): Amortized cost basis by origination year ending March 31, 2021 2020 2019 2018 2017 Total Transfers (2) Net credit exposure Notes receivable: High CQR $ 82,424 $ 6,952 $ 1,259 $ 856 $ 27 $ 91,518 $ (60,295 ) $ 31,223 Average CQR 14,922 3,945 576 36 - 19,479 (6,999 ) 12,480 Low CQR - - 324 - - 324 - 324 Total $ 97,346 $ 10,897 $ 2,159 $ 892 $ 27 $ 111,321 $ (67,294 ) $ 44,027 Lease receivables: High CQR $ 39,177 $ 8,137 $ 2,273 $ 713 $ 299 $ 50,599 $ (18,555 ) $ 32,044 Average CQR 25,059 7,709 1,751 403 49 34,971 (4,792 ) 30,179 Low CQR - - - - - - - - Total $ 64,236 $ 15,846 $ 4,024 $ 1,116 $ 348 $ 85,570 $ (23,347 ) $ 62,223 Total amortized cost (1) $ 161,582 $ 26,743 $ 6,183 $ 2,008 $ 375 $ 196,891 $ (90,641 ) $ 106,250 (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 $ 406 $ 2,264 $ 967 $ 3,637 $ 8,839 $ 12,476 $ 98,845 $ 111,321 Lease receivables 4,272 1,832 1,295 7,399 3,584 10,983 74,587 85,570 Total $ 4,678 $ 4,096 $ 2,262 $ 11,036 $ 12,423 $ 23,459 $ 173,432 $ 196,891
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 receivable 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)	9 Months Ended
	Dec. 31, 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): December 31, 2020 March 31, 2020 Other current assets: Deposits & funds held in escrow $ 376 $ 926 Prepaid assets 7,626 7,946 Other 512 384 Total $ 8,514 $ 9,256 Property, equipment and other assets Property and equipment, net $ 7,921 $ 7,153 Deferred costs - non-current 20,650 10,957 Right-of-use assets 9,986 13,066 Other 4,830 1,420 Total $ 43,387 $ 32,596 Other current liabilities : Accrued expenses $ 13,054 $ 10,024 Accrued income taxes payable 2,249 406 Contingent consideration - current - 220 Short-term lease liability 4,292 4,815 Other 11,500 7,521 Total $ 31,095 $ 22,986 Other liabilities : Deferred revenue $ 28,708 $ 16,693 Long-term lease liability 5,941 8,326 Other 5,183 2,708 Total $ 39,832 $ 27,727

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Dec. 31, 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 and nine months ended December 31, 2020, and 2019, respectively (in thousands, except per share data). Three Months Ended December 31, Nine Months Ended December 31, 2020 2019 2020 2019 Net earnings attributable to common shareholders - basic and diluted $ 21,638 $ 19,550 $ 58,844 $ 55,836 Basic and diluted common shares outstanding: Weighted average common shares outstanding — basic 13,332 13,320 13,342 13,329 Effect of dilutive shares 46 58 60 81 Weighted average shares common outstanding — diluted 13,378 13,378 13,402 13,410 Earnings per common share - basic $ 1.62 $ 1.47 $ 4.41 $ 4.19 Earnings per common share - diluted $ 1.62 $ 1.46 $ 4.39 $ 4.16

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
	Dec. 31, 2020
SHARE-BASED COMPENSATION [Abstract]
Summary of Non-vested Restricted Shares	For the nine months ended December 31, 2020, we granted 9,871 restricted shares under the 2017 Director LTIP, and 89,873 restricted shares under the 2012 Employee LTIP. For the nine months ended December 31, 2019, we granted 8,646 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 99,744 $ 71.82 Vested (110,292 ) $ 70.01 Forfeited - $ - Nonvested December 31, 2020 183,032 $ 74.94

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Dec. 31, 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) December 31 , 2020 Assets: Money market funds $ 5,134 $ 5,134 $ - $ - March 31 , 2020 Assets: Money market funds $ 128 $ 128 $ - $ - Liabilities: Contingent consideration $ 220 $ - $ - $ 220

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	9 Months Ended
	Dec. 31, 2020
Systems Management Planning (SMP) [Member]
Business Acquisition [Line Items]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed	Our preliminary sum of consideration transferred was $27.1 million consisting of $29.3 million paid in cash at closing less $2.2 million that is due back to us related to a working capital adjustment. Our preliminary allocation of the purchase consideration to the assets acquired and liabilities assumed is presented below (in thousands): Acquisition Date Amount Accounts receivable $ 14,329 Other assets 3,290 Identified intangible assets 14,270 Accounts payable and other current liabilities (11,250 ) Performance obligations (2,180 ) Total identifiable net assets 18,459 Goodwill 8,643 Total purchase consideration $ 27,102
ABS Technology [Member]
Business Acquisition [Line Items]
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)	9 Months Ended
	Dec. 31, 2020
SEGMENT REPORTING [Abstract]
Segment Reporting Information, by Reportable Segment	Our reportable segment information for the three- and nine-month periods ended December 31, 2020, and 2019 are summarized in the following tables (in thousands): Three Months Ended December 31, 2020 December 31, 2019 Technology Financing Total Technology Financing Total Sales Product $ 363,478 $ 12,034 $ 375,512 $ 360,206 $ 18,363 $ 378,569 Service 52,092 - 52,092 50,422 - 50,422 Net sales 415,570 12,034 427,604 410,628 18,363 428,991 Cost of Sales Product 295,310 2,204 297,514 290,980 2,229 293,209 Service 31,939 - 31,939 32,086 - 32,086 Total cost of sales 327,249 2,204 329,453 323,066 2,229 325,295 Gross Profit 88,321 9,830 98,151 87,562 16,134 103,696 Selling, general, and administrative 62,377 3,013 65,390 67,759 5,331 73,090 Depreciation and amortization 3,115 28 3,143 3,619 28 3,647 Interest and financing costs - 355 355 - 694 694 Operating expenses 65,492 3,396 68,888 71,378 6,053 77,431 Operating income 22,829 6,434 29,263 16,184 10,081 26,265 Other income 813 997 Earnings before tax $ 30,076 $ 27,262 Net Sales Contracts with customers $ 411,175 $ 1,904 $ 413,079 $ 404,918 $ 1,689 $ 406,607 Financing and other 4,395 10,130 14,525 5,710 16,674 22,384 Net Sales $ 415,570 $ 12,034 $ 427,604 $ 410,628 $ 18,363 $ 428,991 Selected Financial Data - Statement of Cash Flow Depreciation and amortization $ 3,311 $ 991 $ 4,302 $ 3,691 $ 1,449 $ 5,140 Purchases of property, equipment and operating lease equipment $ 959 $ 1 $ 960 $ 786 $ 1,535 $ 2,321 Selected Financial Data - Balance Sheet Total assets $ 887,684 $ 238,270 $ 1,125,954 $ 733,174 $ 219,434 $ 952,608 Nine Months Ended December 31, 2020 December 31, 2019 Technology Financing Total Technology Financing Total Sales Product $ 1,026,845 $ 39,563 $ 1,066,408 $ 1,032,620 $ 45,047 $ 1,077,667 Service 149,308 - 149,308 144,261 - 144,261 Net sales 1,176,153 39,563 1,215,716 1,176,881 45,047 1,221,928 Cost of Sales Product 820,859 6,252 827,111 825,509 6,626 832,135 Service 92,935 - 92,935 90,427 - 90,427 Total cost of sales 913,794 6,252 920,046 915,936 6,626 922,562 Gross Profit 262,359 33,311 295,670 260,945 38,421 299,366 Selling, general, and administrative 190,519 11,227 201,746 197,615 11,785 209,400 Depreciation and amortization 9,916 84 10,000 10,555 112 10,667 Interest and financing costs 266 913 1,179 - 1,898 1,898 Operating expenses 200,701 12,224 212,925 208,170 13,795 221,965 Operating income 61,658 21,087 82,745 52,775 24,626 77,401 Other income 1,095 912 Earnings before tax $ 83,840 $ 78,313 Net Sales Contracts with customers $ 1,157,519 $ 3,892 $ 1,161,411 $ 1,163,184 $ 3,889 $ 1,167,073 Financing and other 18,634 35,671 54,305 13,697 41,158 54,855 Net Sales $ 1,176,153 $ 39,563 $ 1,215,716 $ 1,176,881 $ 45,047 $ 1,221,928 Selected Financial Data - Statement of Cash Flow Depreciation and amortization $ 10,444 $ 3,318 $ 13,762 $ 10,974 $ 4,243 $ 15,217 Purchases of property, equipment and operating lease equipment $ 4,060 $ 167 $ 4,227 $ 3,461 $ 3,748 $ 7,209 Selected Financial Data - Balance Sheet Total assets $ 887,684 $ 238,270 $ 1,125,954 $ 733,174 $ 219,434 $ 952,608
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 for the three and nine month periods ended December 31, 2020, and 2019 in the tables below (in thousands): Three Months Ended December 31, Nine Months Ended December 31, 2020 2019 2020 2019 Customer end market: Technology $ 57,346 $ 77,841 $ 203,634 $ 251,523 Telecom, Media & Entertainment 123,441 84,707 277,020 218,217 Financial Services 60,610 56,395 154,763 149,241 State and local government and educational institutions 50,703 55,908 197,758 198,964 Healthcare 44,706 60,275 150,494 176,202 All others 78,764 75,502 192,484 182,734 Net sales 415,570 410,628 1,176,153 1,176,881 Less: Revenue from financing and other (4,395 ) (5,710 ) (18,634 ) (13,697 ) Revenue from contracts with customers $ 411,175 $ 404,918 $ 1,157,519 $ 1,163,184 Three Months Ended December 31, Nine Months Ended December 31, 2020 2019 2020 2019 Vendor Cisco Systems $ 132,290 $ 169,265 $ 433,388 $ 488,051 NetApp 13,861 15,799 39,196 38,997 HP Inc. & HPE 14,100 15,853 47,533 57,952 Dell EMC 34,027 12,025 80,457 38,300 Arista Networks 22,157 12,862 42,420 60,578 Juniper Networks 29,781 27,419 68,076 58,843 All others 169,354 157,405 465,083 434,160 Net sales 415,570 410,628 1,176,153 1,176,881 Less: Revenue from financing and other (4,395 ) (5,710 ) (18,634 ) (13,697 ) Revenue from contracts with customers $ 411,175 $ 404,918 $ 1,157,519 $ 1,163,184

ORGANIZATION AND SUMMARY OF S_3

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Net Sales [Member] | Cisco Systems [Member] | Technology Segment [Member]
Concentration of risk [Abstract]
Percentage of concentration risk	32.00%	41.00%	37.00%	41.00%

REVENUES (Details)

REVENUES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020
Contract with Customer, Asset and Liability [Abstract]
Accounts receivable - trade	$ 24,400		$ 24,400		$ 33,100
Current (included in deferred revenue)	67,845		67,845		54,486
Non-current (included in other liabilities)	28,441		28,441		$ 16,395
Revenue recognized from the beginning contract liability	9,600	$ 15,900	36,500	$ 45,300
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	67,119		67,119
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-10-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 13,381		$ 13,381
Expected timing of satisfaction, period	3 months		3 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 30,971		$ 30,971
Expected timing of satisfaction, period	1 year		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 15,062		$ 15,062
Expected timing of satisfaction, period	1 year		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	$ 6,821		$ 6,821
Expected timing of satisfaction, period	1 year		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	$ 700		$ 700
Expected timing of satisfaction, period	1 year		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	$ 184		$ 184
Expected timing of satisfaction, period

FINANCING RECEIVABLES AND OPE_3

FINANCING RECEIVABLES AND OPERATING LEASES (Details) - USD ($) $ in Thousands		3 Months Ended			9 Months Ended
		Dec. 31, 2020		Dec. 31, 2019	Dec. 31, 2020		Dec. 31, 2019	Mar. 31, 2020		Mar. 31, 2019
Profit Recognized for Sales-type Leases [Abstract]
Net sales		$ 4,182		$ 5,710	$ 22,000		$ 13,697
Cost of sales		3,362		4,807	14,091		11,459
Gross Profit		820		903	7,909		2,238
Interest Income on Sales-type Leases [Abstract]
Interest Income on sales-type leases		1,956		1,272	6,059		4,862
Lease income on operating leases		3,623		4,489	11,361		14,908
Financing Receivables [Abstract]
Estimated unguaranteed residual value		12,314			12,314
Initial direct costs, net of amortization		464			464
Reserve for credit losses		(4,969)		(2,812)	(4,969)		(2,812)	$ (3,189)		$ (2,614)
Reported as [Abstract]
Current		126,692			126,692			70,169
Future scheduled minimum lease payments [Abstract]
Remainder of year ending March 31, 2021		40,211			40,211
Year ending March 31, 2022		24,111			24,111
Year ending March 31, 2023		16,337			16,337
Year ending March 31, 2024		5,992			5,992
Year ending March 31, 2025 and thereafter		2,978			2,978
Total		89,629			89,629
Estimated unguaranteed residual values for direct financing lease		12,314			12,314			14,972
Investment in operating lease equipment - net [Abstract]
Cost of equipment under operating leases		18,182			18,182			21,276
Accumulated depreciation		(11,449)			(11,449)			(11,159)
Investment in operating lease equipment - net	[1]	6,733			6,733			10,117
Unguaranteed residual value of operating lease equipment net		2,600			2,600			3,100
Future scheduled minimum lease rental payments [Abstract]
Remainder of year ending March 31, 2021		625			625
Year ending March 31, 2022		2,007			2,007
Year ending March 31, 2023		1,456			1,456
Year ending March 31, 2024		479			479
Year ending March 31, 2025 and thereafter		37			37
Total		4,604			4,604
Collateral for non-recourse notes payable - Finance receivables		69,400			69,400			34,600
Collateral for non-recourse notes payable - Operating leases		4,400			4,400			6,700
Gain on sale of financing receivables		3,000		9,500	10,100		17,000
Proceeds from sale of financing receivables		67,500		246,000	259,200		414,600
Contract liabilities - servicing of financial assets		400			400			400
Notes Receivables [Member]
Financing Receivables [Abstract]
Minimum payments		111,321			111,321			55,417
Estimated unguaranteed residual value		0	[2]		0	[2]		0	[3]
Initial direct costs, net of amortization	[4]	464			464			212
Unearned income		0			0			0
Reserve for credit losses		(1,280)	[4]	(788)	(1,280)	[4]	(788)	(798)	[4]	(505)
Total, net		110,505			110,505			54,831
Reported as [Abstract]
Current		74,585			74,585			31,181
Long-term		35,920			35,920			23,650
Total, net		110,505			110,505			54,831
Lease Receivables [Member]
Financing Receivables [Abstract]
Minimum payments		89,629			89,629			69,492
Estimated unguaranteed residual value		20,388	[2]		20,388	[2]		21,862	[3]
Initial direct costs, net of amortization	[4]	0			0			247
Unearned income		(12,133)			(12,133)			(11,612)
Reserve for credit losses		(1,088)	[4]	$ (642)	(1,088)	[4]	$ (642)	(610)	[4]	$ (530)
Total, net		96,796			96,796			79,379
Reported as [Abstract]
Current		52,107			52,107			38,988
Long-term		44,689			44,689			40,391
Total, net		96,796			96,796			79,379
Financing Receivables [Member]
Financing Receivables [Abstract]
Minimum payments		200,950			200,950			124,909
Estimated unguaranteed residual value		20,388	[2]		20,388	[2]		21,862	[3]
Initial direct costs, net of amortization	[4]	464			464			459
Unearned income		(12,133)			(12,133)			(11,612)
Reserve for credit losses	[4]	(2,368)			(2,368)			(1,408)
Total, net		207,301			207,301			134,210
Reported as [Abstract]
Current		126,692			126,692			70,169
Long-term		80,609			80,609			64,041
Total, net		$ 207,301			$ 207,301			$ 134,210
[1]	Amounts include estimated unguaranteed residual values of $2.6 million and $3.1 million as of December 31, 2020, and March 31, 2020, respectively.
[2]	Includes unguaranteed residual values of $12,314 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		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020
Lessee, Operating Lease [Abstract]
Rent expense	$ 1,500	$ 1,600	$ 4,600	$ 4,700
Lease Term and Discount Rate [Abstract]
Weighted average remaining lease term (months)	33 months		33 months		38 months
Weighted average discount rate	3.80%		3.80%		3.90%
Future Lease Payments under Operating Leases [Abstract]
Remainder of year ending March 31, 2021	$ 967		$ 967
Year ending March 31, 2022	4,390		4,390
Year ending March 31, 2023	3,166		3,166
Year ending March 31, 2024	1,323		1,323
Year ending March 31, 2025 and thereafter	917		917
Total lease payments	10,763		10,763
Less: Interest	(530)		(530)
Present value of lease liabilities	$ 10,233		$ 10,233
Maximum [Member]
Lessee, Operating Lease [Abstract]
Operating lease term	6 years		6 years

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS, Goodwill (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Dec. 31, 2020USD ($)Unit	Mar. 31, 2020USD ($)Unit
Goodwill [Roll Forward]
Goodwill, Beginning Balance	$ 126,770
Goodwill, Impairment Loss, Beginning Balance	(8,673)
Goodwill, Net Carrying Amount, Beginning Balance	118,097
Acquisitions	8,643
Foreign currency translations	205
Goodwill, Ending Balance	135,618	$ 126,770
Goodwill, Impairment Loss, Ending Balance	(8,673)	(8,673)
Goodwill, Net Carrying Amount, Ending Balance	$ 126,945	$ 118,097
Number of reporting units | Unit	1	1
Percentage change in the fair value	10.00%

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS, Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020
Other Intangible Assets [Abstract]
Gross carrying amount	$ 87,844		$ 87,844		$ 73,391
Accumulated amortization	(46,216)		(46,216)		(38,927)
Net carrying amount	41,628		41,628		34,464
Total amortization expense for other intangible assets	2,300	$ 2,600	7,300	$ 7,500
Systems Management and Planning, Inc. ("SMP") [Member]
Other Intangible Assets [Abstract]
Intangible assets acquired	14,270		14,270
Customer Relationships and Other Intangibles [Member]
Other Intangible Assets [Abstract]
Gross carrying amount	77,307		77,307		63,006
Accumulated amortization	(39,371)		(39,371)		(33,000)
Net carrying amount	37,936		$ 37,936		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	10,537		$ 10,537		10,385
Accumulated amortization	(6,845)		(6,845)		(5,927)
Net carrying amount	3,692		$ 3,692		$ 4,458
Capitalized Software Development [Member] | Minimum [Member]
Other Intangible Assets [Abstract]
Estimated useful life			5 years
Customer Relationships [Member] | Systems Management and Planning, Inc. ("SMP") [Member]
Other Intangible Assets [Abstract]
Estimated useful life			7 years
Intangible assets acquired	$ 14,300		$ 14,300

ALLOWANCE FOR CREDIT LOSSES, Ac

ALLOWANCE FOR CREDIT LOSSES, Activity (Details) - USD ($) $ in Thousands	9 Months Ended
	Dec. 31, 2020		Dec. 31, 2019
Activity in reserves for credit losses [Roll Forward]
Balance	$ 3,189		$ 2,614
Provision for credit losses	1,920		504
Write-offs and other	(140)		(306)
Balance	4,969		2,812
Accounts Receivable [Member]
Activity in reserves for credit losses [Roll Forward]
Balance	1,781		1,579
Provision for credit losses	866		107
Write-offs and other	(46)		(304)
Balance	2,601		1,382
Notes Receivable [Member]
Activity in reserves for credit losses [Roll Forward]
Balance	798	[1]	505
Provision for credit losses	570		283
Write-offs and other	(88)		0
Balance	1,280	[1]	788
Lease Receivables [Member]
Activity in reserves for credit losses [Roll Forward]
Balance	610	[1]	530
Provision for credit losses	484		114
Write-offs and other	(6)		(2)
Balance	$ 1,088	[1]	$ 642
[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	Dec. 31, 2020		Mar. 31, 2020		Dec. 31, 2019	Mar. 31, 2019
Allowance for credit losses [Abstract]
Ending balance	$ 4,969		$ 3,189		$ 2,812	$ 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	1,280	[1]	798	[1]	788	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	$ 1,088	[1]	610	[1]	$ 642	$ 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		9 Months Ended
		Dec. 31, 2020		Mar. 31, 2020
Credit Risk Profile, Segregated by Class [Abstract]
2021	[1]	$ 161,582
2020	[1]	26,743
2019	[1]	6,183
2018	[1]	2,008
2017	[1]	375
Total	[1]	196,891
Transfers	[1],[2]	(90,641)
Net credit exposure	[1]	106,250
Unguaranteed residual value		12,314
Lease receivable and initial direct costs of notes receivable, net of amortization		464
Notes Receivable [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2021		97,346
2020		10,897
2019		2,159
2018		892
2017		27
Total		111,321
Transfers	[2]	(67,294)
Net credit exposure		44,027
Unguaranteed residual value		0	[3]	$ 0	[4]
Lease receivable and initial direct costs of notes receivable, net of amortization	[5]	464		212
Lease Receivables [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2021		64,236
2020		15,846
2019		4,024
2018		1,116
2017		348
Total		85,570
Transfers	[2]	(23,347)
Net credit exposure		62,223
Unguaranteed residual value		20,388	[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		$ 82,424
2020		6,952
2019		1,259
2018		856
2017		27
Total		91,518
Transfers	[2]	(60,295)
Net credit exposure		31,223
High CQR [Member] | Lease Receivables [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2021		39,177
2020		8,137
2019		2,273
2018		713
2017		299
Total		50,599
Transfers	[2]	(18,555)
Net credit exposure		$ 32,044
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		$ 14,922
2020		3,945
2019		576
2018		36
2017		0
Total		19,479
Transfers	[2]	(6,999)
Net credit exposure		12,480
Average CQR [Member] | Lease Receivables [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2021		25,059
2020		7,709
2019		1,751
2018		403
2017		49
Total		34,971
Transfers	[2]	(4,792)
Net credit exposure		$ 30,179
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		0
2019		324
2018		0
2017		0
Total		324
Transfers	[2]	0
Net credit exposure		324
Low CQR [Member] | Lease Receivables [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2021		0
2020		0
2019		0
2018		0
2017		0
Total		0
Transfers	[2]	0
Net credit exposure		$ 0
[1]	Unguaranteed residual values of $12,314 thousand that we retained after selling the related lease receivable and initial direct costs of notes receivable of $464 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 $12,314 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		Dec. 31, 2020	Mar. 31, 2020
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total past due		$ 11,036
Current		12,423
Billed		23,459
Unbilled		173,432
Total	[1]	196,891
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		3,637	$ 2,155
Current		8,839	4,013
Billed		12,476
Unbilled		98,845
Total		111,321
Unbilled minimum lease payments			49,249
Total minimum lease payments		111,321	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		7,399	2,243
Current		3,584	2,287
Billed		10,983
Unbilled		74,587
Total		85,570
Unbilled minimum lease payments			64,962
Total minimum lease payments		89,629	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		91,518
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		50,599
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		19,479
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		34,971
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		324
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		4,678
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		406	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		4,272	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		4,096
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		2,264	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		1,832	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		2,262
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		967	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		$ 1,295	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 $12,314 thousand that we retained after selling the related lease receivable and initial direct costs of notes receivable of $464 thousand are excluded from amortized cost.

PROPERTY, EQUIPMENT, OTHER AS_3

PROPERTY, EQUIPMENT, OTHER ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Mar. 31, 2020
Other current assets [Abstract]
Deposits & funds held in escrow	$ 376	$ 926
Prepaid assets	7,626	7,946
Other	512	384
Total other current assets	8,514	9,256
Property, equipment and other assets [Abstract]
Property and equipment, net	7,921	7,153
Deferred costs - non-current	20,650	10,957
Right-of-use assets	9,986	13,066
Other	4,830	1,420
Total	$ 43,387	$ 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	$ 13,054	$ 10,024
Accrued income taxes payable	2,249	406
Contingent consideration - current	0	220
Short-term lease liability	4,292	4,815
Other	11,500	7,521
Total	$ 31,095	$ 22,986
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesCurrent	us-gaap:OtherLiabilitiesCurrent
Other liabilities [Abstract]
Deferred revenue	$ 28,708	$ 16,693
Long-term lease liability	5,941	8,326
Other	5,183	2,708
Total	$ 39,832	$ 27,727
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent	us-gaap:OtherLiabilitiesNoncurrent

CREDIT FACILITY AND NOTES PAY_2

CREDIT FACILITY AND NOTES PAYABLE (Details) $ in Thousands	May 15, 2020USD ($)	Dec. 31, 2020USD ($)Component	Mar. 31, 2020USD ($)
Credit Facility [Abstract]
Maximum borrowing capacity under credit facility		$ 275,000
Recourse Notes Payable [Abstract]
Recourse notes payable-current		0	$ 37,256
Account Receivable Component [Member]
Credit Facility [Abstract]
Maximum borrowing capacity under credit facility	$ 275,000	100,000
Recourse Note Payable [Member]
Recourse Notes Payable [Abstract]
Recourse notes payable-current		$ 0	$ 2,300
Weighted average interest rate of notes			2.55%
Non-Recourse Note Payable [Member]
Recourse Notes Payable [Abstract]
Weighted average interest rate of notes		3.57%	3.84%
Non-recourse Notes Payable [Abstract]
Non-recourse notes payable		$ 68,300	$ 35,500
WFCDF [Member]
Credit Facility [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]
Credit Facility [Abstract]
Period of temporary increase of aggregate limit on credit facility		30 days
WFCDF [Member] | Maximum [Member]
Credit Facility [Abstract]
Aggregate period of temporary increase of aggregate limit on credit facility in a calendar year		150 days
WFCDF [Member] | Floor Plan Component [Member]
Credit Facility [Abstract]
Amount outstanding under credit facility		$ 177,100	127,400
WFCDF [Member] | Account Receivable Component [Member]
Credit Facility [Abstract]
Amount outstanding under credit facility		$ 0	$ 35,000
Maximum borrowing capacity under credit facility	$ 100,000
Basis spread on reference rate	2.00%
WFCDF [Member] | Account Receivable Component [Member] | LIBOR [Member]
Credit Facility [Abstract]
Basis spread on reference rate	0.75%
Debt instrument term of variable rate		1 month
Election under WFCDF [Member]
Credit Facility [Abstract]
Maximum borrowing capacity under credit facility	$ 350,000

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share, Basic and Diluted [Abstract]
Net earnings attributable to common shareholders - basic and diluted	$ 21,638	$ 19,846	$ 17,360	$ 19,550	$ 20,098	$ 16,188	$ 58,844	$ 55,836
Basic and diluted common shares outstanding [Abstract]
Weighted average common shares outstanding - basic (in shares)	13,332			13,320			13,342	13,329
Effect of dilutive shares (in shares)	46			58			60	81
Weighted average shares common outstanding - diluted (in shares)	13,378			13,378			13,402	13,410
Earnings per common share - basic (in dollars per share)	$ 1.62			$ 1.47			$ 4.41	$ 4.19
Earnings per common share - diluted (in dollars per share)	$ 1.62			$ 1.46			$ 4.39	$ 4.16

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ in Millions	9 Months Ended
	Dec. 31, 2020	Dec. 31, 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)	59,101	149,044
Common stock repurchased during the period	$ 4.2	$ 10.7
Shares repurchased to satisfy tax withholding obligation (in shares)	37,640	41,817
Value of shares repurchased to satisfy tax withholding obligation	$ 2.7	$ 3

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Additional Disclosures [Abstract]
Vested share-based awards withheld to satisfy income tax obligations (in shares)	37,640	41,817
Vested share-based awards withheld to satisfy income tax obligations	$ 2.7	$ 3
Restricted Stock [Member]
Number of Shares [Roll Forward]
Nonvested at beginning of period (in shares)	193,580
Granted (in shares)	99,744
Vested (in shares)	(110,292)
Forfeited (in shares)	0
Nonvested at end of period (in shares)	183,032
Weighted Average Grant-date Fair Value [Roll Forward]
Nonvested at beginning of period (in dollars per share)	$ 73.74
Granted (in dollars per share)	71.82
Vested (in dollars per share)	70.01
Forfeited (in dollars per share)	0
Nonvested at end of period (in dollars per share)	$ 74.94
2017 Director LTIP [Member] | Restricted Stock [Member]
Number of Shares [Roll Forward]
Granted (in shares)	9,871	8,646
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 ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Compensation Expense [Abstract]
Share-based compensation expense	$ 1,800,000	$ 2,000,000	$ 5,427,000	$ 6,019,000
401(k) Profit Sharing Plan [Abstract]
Contribution to profit sharing plan	900,000	$ 800,000	2,200,000	$ 2,200,000
Restricted Stock [Member]
Compensation Expense [Abstract]
Unrecognized compensation expense	$ 9,900		$ 9,900
Unrecognized compensation expense, period for recognition			30 months

INCOME TAXES (Details)

INCOME TAXES (Details) $ in Thousands	9 Months Ended
	Dec. 31, 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	1 Months Ended			3 Months Ended		9 Months Ended
	Aug. 31, 2020	Oct. 31, 2019	Sep. 30, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2020
Assets [Abstract]
Money market funds				$ 5,134		$ 5,134		$ 128
Liabilities [Abstract]
Contingent consideration								220
Payments of contingent consideration	$ 219	$ 9,600	$ 500
Adjustments to contingent consideration liabilities				0	$ 0	0	$ 1,500
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets [Abstract]
Money market funds				5,134		5,134		128
Liabilities [Abstract]
Contingent consideration								0
Significant Other Observable Inputs (Level 2) [Member]
Assets [Abstract]
Money market funds				0		0		0
Liabilities [Abstract]
Contingent consideration								0
Significant Unobservable Inputs (Level 3) [Member]
Assets [Abstract]
Money market funds				$ 0		$ 0		0
Liabilities [Abstract]
Contingent consideration								$ 220

BUSINESS COMBINATIONS (Details)

BUSINESS COMBINATIONS (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Aug. 23, 2019	Dec. 31, 2019	Dec. 31, 2020	Mar. 31, 2020
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Goodwill	$ 126,945			$ 126,945	$ 118,097
Systems Management Planning (SMP) [Member]
Business Combination [Abstract]
Cash portion of the acquisition	29,300
Receivable related to working capital adjustment	2,200			2,200
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Accounts receivable	14,329			14,329
Other assets	3,290			3,290
Identified intangible assets	14,270			14,270
Accounts payable and other current liabilities	(11,250)			(11,250)
Performance obligation	(2,180)			(2,180)
Total identifiable net assets	18,459			18,459
Goodwill	8,643			8,643
Total purchase consideration	27,102			27,102
Systems Management Planning (SMP) [Member] | Customer Relationships [Member]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Identified intangible assets	$ 14,300			$ 14,300
Estimated useful lives				7 years
ABS Technology [Member]
Business Combination [Abstract]
Cash portion of the acquisition		$ 13,800
Receivable related to working capital adjustment		200
Contingent consideration payable		1,700
Additional cash paid upon collection of certain accounts receivable					$ 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		9 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2020USD ($)Segment	Dec. 31, 2019USD ($)	Mar. 31, 2020USD ($)
SEGMENT REPORTING [Abstract]
Number of business segments | Segment			2
Reportable Segment Information [Abstract]
Net sales	$ 427,604	$ 428,991	$ 1,215,716	$ 1,221,928
Cost of Sales [Abstract]
Cost of sales	329,453	325,295	920,046	922,562
Gross profit	98,151	103,696	295,670	299,366
Selling, general, and administrative	65,390	73,090	201,746	209,400
Depreciation and amortization	3,143	3,647	10,000	10,667
Interest and financing costs	355	694	1,179	1,898
Operating expenses	68,888	77,431	212,925	221,965
Operating income	29,263	26,265	82,745	77,401
Other income (expense)	813	997	1,095	912
Earnings before tax	30,076	27,262	83,840	78,313
Net Sales [Abstract]
Contracts with customers	413,079	406,607	1,161,411	1,167,073
Financing and other	14,525	22,384	54,305	54,855
Net sales	427,604	428,991	1,215,716	1,221,928
Selected Financial Data - Statement of Cash Flow [Abstract]
Depreciation and amortization	4,302	5,140	13,762	15,217
Purchases of property, equipment and operating lease equipment	960	2,321	4,227	7,209
Selected Financial Data - Balance Sheet [Abstract]
Total assets	1,125,954	952,608	1,125,954	952,608	$ 909,113
Product [Member]
Reportable Segment Information [Abstract]
Net sales	375,512	378,569	1,066,408	1,077,667
Cost of Sales [Abstract]
Cost of sales	297,514	293,209	827,111	832,135
Net Sales [Abstract]
Net sales	375,512	378,569	1,066,408	1,077,667
Service [Member]
Reportable Segment Information [Abstract]
Net sales	52,092	50,422	149,308	144,261
Cost of Sales [Abstract]
Cost of sales	31,939	32,086	92,935	90,427
Net Sales [Abstract]
Net sales	52,092	50,422	149,308	144,261
Technology Segment [Member]
Reportable Segment Information [Abstract]
Net sales	415,570	410,628	1,176,153	1,176,881
Net Sales [Abstract]
Contracts with customers	411,175	404,918	1,157,519	1,163,184
Financing and other	4,395	5,710	18,634	13,697
Net sales	415,570	410,628	1,176,153	1,176,881
Operating Segments [Member] | Technology Segment [Member]
Reportable Segment Information [Abstract]
Net sales	415,570	410,628	1,176,153	1,176,881
Cost of Sales [Abstract]
Cost of sales	327,249	323,066	913,794	915,936
Gross profit	88,321	87,562	262,359	260,945
Selling, general, and administrative	62,377	67,759	190,519	197,615
Depreciation and amortization	3,115	3,619	9,916	10,555
Interest and financing costs	0	0	266	0
Operating expenses	65,492	71,378	200,701	208,170
Operating income	22,829	16,184	61,658	52,775
Net Sales [Abstract]
Contracts with customers	411,175	404,918	1,157,519	1,163,184
Financing and other	4,395	5,710	18,634	13,697
Net sales	415,570	410,628	1,176,153	1,176,881
Selected Financial Data - Statement of Cash Flow [Abstract]
Depreciation and amortization	3,311	3,691	10,444	10,974
Purchases of property, equipment and operating lease equipment	959	786	4,060	3,461
Selected Financial Data - Balance Sheet [Abstract]
Total assets	887,684	733,174	887,684	733,174
Operating Segments [Member] | Technology Segment [Member] | Product [Member]
Reportable Segment Information [Abstract]
Net sales	363,478	360,206	1,026,845	1,032,620
Cost of Sales [Abstract]
Cost of sales	295,310	290,980	820,859	825,509
Net Sales [Abstract]
Net sales	363,478	360,206	1,026,845	1,032,620
Operating Segments [Member] | Technology Segment [Member] | Service [Member]
Reportable Segment Information [Abstract]
Net sales	52,092	50,422	149,308	144,261
Cost of Sales [Abstract]
Cost of sales	31,939	32,086	92,935	90,427
Net Sales [Abstract]
Net sales	52,092	50,422	149,308	144,261
Operating Segments [Member] | Financing Segment [Member]
Reportable Segment Information [Abstract]
Net sales	12,034	18,363	39,563	45,047
Cost of Sales [Abstract]
Cost of sales	2,204	2,229	6,252	6,626
Gross profit	9,830	16,134	33,311	38,421
Selling, general, and administrative	3,013	5,331	11,227	11,785
Depreciation and amortization	28	28	84	112
Interest and financing costs	355	694	913	1,898
Operating expenses	3,396	6,053	12,224	13,795
Operating income	6,434	10,081	21,087	24,626
Net Sales [Abstract]
Contracts with customers	1,904	1,689	3,892	3,889
Financing and other	10,130	16,674	35,671	41,158
Net sales	12,034	18,363	39,563	45,047
Selected Financial Data - Statement of Cash Flow [Abstract]
Depreciation and amortization	991	1,449	3,318	4,243
Purchases of property, equipment and operating lease equipment	1	1,535	167	3,748
Selected Financial Data - Balance Sheet [Abstract]
Total assets	238,270	219,434	238,270	219,434
Operating Segments [Member] | Financing Segment [Member] | Product [Member]
Reportable Segment Information [Abstract]
Net sales	12,034	18,363	39,563	45,047
Cost of Sales [Abstract]
Cost of sales	2,204	2,229	6,252	6,626
Net Sales [Abstract]
Net sales	12,034	18,363	39,563	45,047
Operating Segments [Member] | Financing Segment [Member] | Service [Member]
Reportable Segment Information [Abstract]
Net sales	0	0	0	0
Cost of Sales [Abstract]
Cost of sales	0	0	0	0
Net Sales [Abstract]
Net sales	$ 0	$ 0	$ 0	$ 0

SEGMENT REPORTING, Technology S

SEGMENT REPORTING, Technology Segment Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020	Dec. 31, 2019
Disaggregation of Revenue [Abstract]
Net sales	$ 427,604	$ 428,991	$ 1,215,716	$ 1,221,928
Less: Revenue from financing and other	(14,525)	(22,384)	(54,305)	(54,855)
Revenue from contracts with customers	413,079	406,607	1,161,411	1,167,073
Technology Segment [Member]
Disaggregation of Revenue [Abstract]
Net sales	415,570	410,628	1,176,153	1,176,881
Less: Revenue from financing and other	(4,395)	(5,710)	(18,634)	(13,697)
Revenue from contracts with customers	411,175	404,918	1,157,519	1,163,184
Technology Segment [Member] | Technology [Member]
Disaggregation of Revenue [Abstract]
Net sales	57,346	77,841	203,634	251,523
Technology Segment [Member] | Telecom, Media & Entertainment [Member]
Disaggregation of Revenue [Abstract]
Net sales	123,441	84,707	277,020	218,217
Technology Segment [Member] | Financial Services [Member]
Disaggregation of Revenue [Abstract]
Net sales	60,610	56,395	154,763	149,241
Technology Segment [Member] | State and Local Government and Educational Institutions [Member]
Disaggregation of Revenue [Abstract]
Net sales	50,703	55,908	197,758	198,964
Technology Segment [Member] | Health Care [Member]
Disaggregation of Revenue [Abstract]
Net sales	44,706	60,275	150,494	176,202
Technology Segment [Member] | All others [Member]
Disaggregation of Revenue [Abstract]
Net sales	78,764	75,502	192,484	182,734
Technology Segment [Member] | Cisco Systems [Member]
Disaggregation of Revenue [Abstract]
Net sales	132,290	169,265	433,388	488,051
Technology Segment [Member] | NetApp [Member]
Disaggregation of Revenue [Abstract]
Net sales	13,861	15,799	39,196	38,997
Technology Segment [Member] | HP Inc. & HPE [Member]
Disaggregation of Revenue [Abstract]
Net sales	14,100	15,853	47,533	57,952
Technology Segment [Member] | Dell / EMC [Member]
Disaggregation of Revenue [Abstract]
Net sales	34,027	12,025	80,457	38,300
Technology Segment [Member] | Arista Networks [Member]
Disaggregation of Revenue [Abstract]
Net sales	22,157	12,862	42,420	60,578
Technology Segment [Member] | Juniper Networks [Member]
Disaggregation of Revenue [Abstract]
Net sales	29,781	27,419	68,076	58,843
Technology Segment [Member] | All others [Member]
Disaggregation of Revenue [Abstract]
Net sales	$ 169,354	$ 157,405	$ 465,083	$ 434,160