ePlus (PLUS) 10-Q 7 Nov 23 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Sep. 30, 2023	Nov. 03, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Document Transition Report	false
Entity File Number	1-34167
Entity Registrant Name	ePlus inc.
Entity Central Index Key	0001022408
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		26,932,046

UNAUDITED CONSOLIDATED BALANCE

UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Current assets:
Cash and cash equivalents	$ 82,498	$ 103,093
Accounts receivable-trade, net	650,017	504,122
Accounts receivable-other, net	73,264	55,508
Inventories	222,122	243,286
Financing receivables-net, current	136,294	89,829
Deferred costs	44,258	44,191
Other current assets	60,775	55,101
Total current assets	1,269,228	1,095,130
Financing receivables and operating leases-net	68,582	84,417
Deferred tax asset	3,682	3,682
Property, equipment, and other assets	72,153	70,447
Goodwill	158,199	136,105
Other intangible assets-net	46,942	25,045
TOTAL ASSETS	1,618,786	1,414,826
Current liabilities:
Accounts payable	295,855	220,159
Accounts payable-floor plan	168,601	134,615
Salaries and commissions payable	38,607	37,336
Deferred revenue	118,910	114,028
Other current liabilities	34,555	24,372
Total current liabilities	700,368	561,326
Non-recourse notes payable - long-term	9,717	9,522
Deferred tax liability	721	715
Other liabilities	62,284	60,998
TOTAL LIABILITIES	773,090	632,561
COMMITMENTS AND CONTINGENCIES (Note 9)
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; 50,000 shares authorized; 26,942 outstanding at September 30, 2023 and 26,905 outstanding at March 31, 2023	274	272
Additional paid-in capital	173,318	167,303
Treasury stock, at cost, 424 shares at September 30, 2023 and 261 shares at March 31, 2023	(22,375)	(14,080)
Retained earnings	693,713	627,202
Accumulated other comprehensive income-foreign currency translation adjustment	766	1,568
Total Stockholders' Equity	845,696	782,265
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	1,618,786	1,414,826
Recourse [Member]
Current liabilities:
Notes payable-current	2,016	5,997
Non-recourse [Member]
Current liabilities:
Notes payable-current	$ 41,824	$ 24,819

UNAUDITED CONSOLIDATED BALANC_2

UNAUDITED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Sep. 30, 2023	Mar. 31, 2023
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)	50,000	50,000
Common stock, shares outstanding (in shares)	26,942	26,905
Treasury stock, shares (in shares)	424	261

UNAUDITED CONSOLIDATED STATEMEN

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net sales
Total	$ 587,611	$ 493,706	$ 1,161,786	$ 952,065
Cost of sales
Total	443,246	360,402	875,148	705,238
Gross profit	144,365	133,304	286,638	246,827
Selling, general, and administrative	92,652	84,704	182,950	161,471
Depreciation and amortization	5,630	3,568	10,422	6,778
Interest and financing costs	1,220	925	2,071	1,288
Operating expenses	99,502	89,197	195,443	169,537
Operating income	44,863	44,107	91,195	77,290
Other income (expense), net	117	(3,866)	307	(6,019)
Earnings before tax	44,980	40,241	91,502	71,271
Provision for income taxes	12,316	11,772	24,991	20,463
Net earnings	$ 32,664	$ 28,469	$ 66,511	$ 50,808
Net earnings per common share-basic (in dollars per share)	$ 1.23	$ 1.07	$ 2.5	$ 1.91
Net earnings per common share-diluted (in dollars per share)	$ 1.22	$ 1.07	$ 2.49	$ 1.91
Weighted average common shares outstanding-basic (in shares)	26,624	26,578	26,588	26,546
Weighted average common shares outstanding-diluted (in shares)	26,679	26,623	26,659	26,671
Product [Member]
Net sales
Total	$ 516,609	$ 428,545	$ 1,023,265	$ 823,795
Cost of sales
Total	398,234	317,127	787,138	621,337
Services [Member]
Net sales
Total	71,002	65,161	138,521	128,270
Cost of sales
Total	$ 45,012	$ 43,275	$ 88,010	$ 83,901

UNAUDITED CONSOLIDATED STATEM_2

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME [Abstract]
NET EARNINGS	$ 32,664	$ 28,469	$ 66,511	$ 50,808
OTHER COMPREHENSIVE INCOME, NET OF TAX:
Foreign currency translation adjustments	(1,749)	(1,071)	(802)	(2,410)
Other comprehensive loss	(1,749)	(1,071)	(802)	(2,410)
TOTAL COMPREHENSIVE INCOME	$ 30,915	$ 27,398	$ 65,709	$ 48,398

UNAUDITED CONSOLIDATED STATEM_3

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net earnings	$ 66,511	$ 50,808
Adjustments to reconcile net earnings to net cash provided by (used in) operating activities:
Depreciation and amortization	12,285	9,539
Provision for credit losses	1,079	1,739
Share-based compensation expense	4,619	3,731
Gain on disposal of property, equipment, and operating lease equipment	(293)	(3,052)
Changes in:
Accounts receivable	(145,632)	(93,103)
Inventories-net	21,739	(122,182)
Financing receivables-net	(29,018)	(23,164)
Deferred costs and other assets	(5,436)	(24,711)
Accounts payable-trade	69,537	49,626
Salaries and commissions payable, deferred revenue, and other liabilities	14,945	31,098
Net cash provided by (used in) operating activities	10,336	(119,671)
Cash flows from investing activities:
Proceeds from sale of property, equipment, and operating lease equipment	377	3,114
Purchases of property, equipment and operating lease equipment	(5,608)	(2,410)
Cash used in acquisitions, net of cash acquired	(48,603)	(12,998)
Net cash used in investing activities	(53,834)	(12,294)
Cash flows from financing activities:
Borrowings of non-recourse and recourse notes payable	191,639	142,271
Repayments of non-recourse and recourse notes payable	(180,103)	(54,597)
Proceeds from issuance of common stock	1,398	0
Repurchase of common stock	(8,352)	(7,224)
Net borrowings (repayments) on floor plan facility	18,032	(9,108)
Net cash provided by financing activities	22,614	71,342
Effect of exchange rate changes on cash	289	4,776
Net decrease in cash and cash equivalents	(20,595)	(55,847)
Cash and cash equivalents, beginning of period	103,093	155,378
Cash and cash equivalents, end of period	82,498	99,531
Supplemental disclosures of cash flow information:
Cash paid for interest	1,875	1,111
Cash paid for income taxes	22,657	28,878
Cash paid for amounts included in the measurement of lease liabilities	2,543	2,300
Schedule of non-cash investing and financing activities:
Proceeds from sale of property, equipment, and leased equipment	25	35
Purchases of property, equipment, and operating lease equipment	(282)	(720)
Consideration for acquisitions	0	(290)
Borrowing of non-recourse and recourse notes payable	21,387	15,532
Vesting of share-based compensation	9,328	9,811
Repurchase of common stock	(65)	0
New operating lease assets obtained in exchange for lease obligations	$ 3,122	$ 2,353

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, 2022	$ 270	$ 159,480	$ (6,734)	$ 507,846	$ (124)	$ 660,738
Balance (in shares) at Mar. 31, 2022	26,886
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock awards	$ 1	0	0	0	0	1
Issuance of restricted stock awards (in shares)	135
Share-based compensation	$ 0	1,773	0	0	0	1,773
Share-based compensation (in shares)	0
Repurchase of common stock	$ 0	0	$ (7,224)	0	0	(7,224)
Repurchase of common stock (in shares)			(128)
Net earnings	0	0	$ 0	22,339	0	22,339
Foreign currency translation adjustment	0	0	0	0	(1,339)	(1,339)
Balance at Jun. 30, 2022	$ 271	161,253	(13,958)	530,185	(1,463)	676,288
Balance (in shares) at Jun. 30, 2022	26,893
Balance at Mar. 31, 2022	$ 270	159,480	(6,734)	507,846	(124)	660,738
Balance (in shares) at Mar. 31, 2022	26,886
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings						50,808
Balance at Sep. 30, 2022	$ 272	163,211	(13,958)	558,654	(2,534)	705,645
Balance (in shares) at Sep. 30, 2022	26,906
Balance at Jun. 30, 2022	$ 271	161,253	(13,958)	530,185	(1,463)	676,288
Balance (in shares) at Jun. 30, 2022	26,893
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock awards	$ 1	0	0	0	0	1
Issuance of restricted stock awards (in shares)	13
Share-based compensation	$ 0	1,958	0	0	0	1,958
Share-based compensation (in shares)	0
Net earnings	$ 0	0	0	28,469	0	28,469
Foreign currency translation adjustment	0	0	0	0	(1,071)	(1,071)
Balance at Sep. 30, 2022	$ 272	163,211	(13,958)	558,654	(2,534)	705,645
Balance (in shares) at Sep. 30, 2022	26,906
Balance at Mar. 31, 2023	$ 272	167,303	(14,080)	627,202	1,568	$ 782,265
Balance (in shares) at Mar. 31, 2023	26,905					26,905
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock awards	$ 2	(2)	0	0	0	$ 0
Issuance of restricted stock awards (in shares)	153
Issuance of common stock	$ 0	1,398	0	0	0	1,398
Issuance of common stock (in shares)	36
Share-based compensation	$ 0	2,205	0	0	0	2,205
Share-based compensation (in shares)	0
Repurchase of common stock	$ 0	0	$ (7,371)	0	0	(7,371)
Repurchase of common stock (in shares)			(147)
Net earnings	0	0	$ 0	33,847	0	33,847
Foreign currency translation adjustment	0	0	0	0	947	947
Balance at Jun. 30, 2023	$ 274	170,904	(21,451)	661,049	2,515	813,291
Balance (in shares) at Jun. 30, 2023	26,947
Balance at Mar. 31, 2023	$ 272	167,303	(14,080)	627,202	1,568	$ 782,265
Balance (in shares) at Mar. 31, 2023	26,905					26,905
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings						$ 66,511
Balance at Sep. 30, 2023	$ 274	173,318	(22,375)	693,713	766	$ 845,696
Balance (in shares) at Sep. 30, 2023	26,942					26,942
Balance at Jun. 30, 2023	$ 274	170,904	(21,451)	661,049	2,515	$ 813,291
Balance (in shares) at Jun. 30, 2023	26,947
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock awards	$ 0	0	0	0	0	0
Issuance of restricted stock awards (in shares)	10
Share-based compensation	$ 0	2,414	0	0	0	2,414
Share-based compensation (in shares)	0
Repurchase of common stock	$ 0	0	$ (924)	0	0	(924)
Repurchase of common stock (in shares)			(15)
Net earnings	0	0	$ 0	32,664	0	32,664
Foreign currency translation adjustment	0	0	0	0	(1,749)	(1,749)
Balance at Sep. 30, 2023	$ 274	$ 173,318	$ (22,375)	$ 693,713	$ 766	$ 845,696
Balance (in shares) at Sep. 30, 2023	26,942					26,942

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Sep. 30, 2023
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 company was founded in 1990 and is a Delaware corporation. e Plus inc. is sometimes referred to in this Quarterly Report on Form 10-Q as “we,” “our,” “us,” “ourselves,” or “ e Plus.” e Plus inc. is a holding company that through its subsidiaries provides IT solutions that enable organizations to optimize their IT environment and supply chain processes. We also provide consulting, professional services, managed services, and complete lifecycle management services including flexible financing solutions. We focus on selling to medium and large enterprises, with customers in the United States (“US”) and in select international markets including the United Kingdom (“UK”), the European Union (“EU”), India, Singapore, and Israel. BASIS OF PRESENTATION — The unaudited consolidated financial statements include the accounts of ePlus inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The accounts of businesses acquired are included in the unaudited consolidated financial statements from the dates of acquisition. During the quarter ended June 30, 2023, we split our technology segment into new segments — — I NTERIM FINANCIAL STATEMENTS — The unaudited consolidated financial statements for the six months ended September 30, 2023, and 2022, 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 six months ended September 30, 2023, and 2022, are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year ending March 31, 2024, 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. These financial statements should be read in conjunction with the information contained in our annual report on Form 10-K for the year ended March 31, 2023 (“2023 Annual Report”), and our Form 8-K that we filed with the SEC on October 6, 2023, which recasts the disclosures in certain portions of our 2023 Annual Report to reflect changes in our reportable segments. USE OF ESTIMATES — The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Estimates are used when accounting for items and matters including, but not limited to, revenue recognition, residual values, vendor consideration, lease classification, goodwill and intangible assets, allowance for credit losses, inventory obsolescence, and the recognition and measurement of income tax assets and other provisions and contingencies. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results may differ from these estimates. CONCENTRATIONS OF RISK — A substantial portion of our sale s are products from Cisco Systems, which were 53% and 39% of our technology business net sales for the three months ended September 30, 2023, and 2022, respectively, and 49% and 37% of our technology business net sales for the six months ended September 30, 2023, and 2022, 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 31, 2023, except for the changes provided in Note 2, “Recent Accounting Pronouncements.”

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	6 Months Ended
	Sep. 30, 2023
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	2. RECENT ACCOUNTING PRONOUNCEMENTS RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS— In September 2022, the Financial Accounting Standards Board (“FASB”) issued ASU 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. This update requires buyers in a supplier finance program to disclose certain qualitative and quantitative information about the program. It is intended to provide information about an entity’s use of supplier finance programs and their effect on the entity’s working capital, liquidity, and cash flows. This update is effective for us beginning in the first quarter of our fiscal year ending March 31, 2024, except for a requirement to provide a roll forward of our obligations during the annual period, which is effective for us beginning in the first quarter of our fiscal year ending March 31, 2025. We adopted the standard during the first quarter of fiscal year ending March 31, 2024, except for the roll forward requirement, which will be adopted during the first quarter of fiscal year ending March 31, 2025. The adoption of the standard resulted in new disclosures only for amounts presented within Accounts payable – floor plan. For additional information on the new disclosures, see Note 8, “Notes Payable and Credit Facility”.

REVENUES

REVENUES	6 Months Ended
	Sep. 30, 2023
REVENUES [Abstract]
REVENUES	3. REVENUES CONTRACT BALANCES Accounts receivable – trade consists entirely of amounts due from contracts with customers. In addition, we had $59.4 million and $70.4 million of receivables from contracts with customers included within financing receivables as of September 30, 2023, and March 31, 2023, respectively. The following table provides the balance of contract liabilities from contracts with customers (in thousands): September 30, 2023 March 31, 2023 Current (included in deferred revenue) $ 118,410 $ 113,713 Non-current (included in other liabilities) $ 48,331 $ 47,217 Revenue recognized from the beginning contract liability balance was $23.4 million and $54.3 million for the three and six months ended September 30, 2023, respectively, and $17.5 million and $42.4 million for the three and six months ended September 30, 2022, 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 the year ending March 31, 2024 $ 40,911 Year ending March 31, 2025 41,630 Year ending March 31, 2026 20,151 Year ending March 31, 2027 7,167 Year ending March 31, 2028 and thereafter 3,797 Total remaining performance obligations $ 113,656 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	6 Months Ended
	Sep. 30, 2023
FINANCING RECEIVABLES AND OPERATING LEASES [Abstract]
FINANCING RECEIVABLES AND OPERATING LEASES	4. FINANCING RECEIVABLES AND OPERATING LEASES Our 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. Often, 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 six months ended September 30, 2023, and 2022 (in thousands): Three months Ended September 30, Six months Ended September 30, 2023 2022 2023 2022 Net sales $ 4,872 $ 4,506 $ 12,495 $ 9,489 Cost of sales 4,132 3,769 11,523 7,836 Gross profit $ 740 $ 737 $ 972 $ 1,653 The following table provides interest income in aggregate on our sales-type leases and lease income on our operating leases for the three and six months ended September 30, 2023, and 2022 (in thousands): Three months Ended September 30, Six months Ended September 30, 2023 2022 2023 2022 Interest income on sales-type leases $ 1,624 $ 819 $ 2,986 $ 1,680 Lease income on operating leases $ 2,801 $ 4,659 $ 5,609 $ 9,241 FINANCING RECEIVABLES—NET The following tables provide a disaggregation of our financing receivables – net (in s): Notes Lease Financing September 30 2023 Receivable Receivables Receivables Gross receivables $ 141,236 $ 71,058 $ 212,294 Unguaranteed residual value (1) - 8,794 8,794 Unearned income (4,147 ) (14,387 ) (18,534 ) Allowance for credit losses (2) (921 ) (1,428 ) (2,349 ) Total, net $ 136,168 $ 64,037 $ 200,205 Reported as: Current $ 102,917 $ 33,377 $ 136,294 Long-term 33,251 30,660 63,911 Total, net $ 136,168 $ 64,037 $ 200,205 (1) Includes unguaranteed residual values of $4,027 thousand that we retained after selling the related lease receivable. (2) Refer to Note 7, “Allowance for Credit Losses” for details. Notes Lease Financing March 31 2023 Receivable Receivables Receivables Gross receivables $ 117,008 $ 60,157 $ 177,165 Unguaranteed residual value (1) - 8,161 8,161 Unearned income (5,950 ) (8,050 ) (14,000 ) Allowance for credit losses (2) (801 ) (981 ) (1,782 ) Total, net $ 110,257 $ 59,287 $ 169,544 Reported as: Current $ 65,738 $ 24,091 $ 89,829 Long-term 44,519 35,196 79,715 Total, net $ 110,257 $ 59,287 $ 169,544 (1) Includes unguaranteed residual values of that we retained after selling the related lease receivable. (2) Refer to Note 7 “Allowance for Credit Losses” for details. 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): September 30, March 31, 2023 2023 Cost of equipment under operating leases $ 14,653 $ 15,301 Accumulated depreciation (9,982 ) (10,599 ) Investment in operating lease equipment—net (1) $ 4,671 $ 4,702 (1) Amounts include estimated unguaranteed residual values of $1,643 thousand and $1,717 thousand as of September 30, 2023, and March 31, 2023, respectively 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 September 30, 2023, and March 31, 2023, we had financing receivables of $67.9 million and $35.7 million, respectively, and operating leases of $2.8 million and $2.5 million, respectively, which were collateral for non-recourse notes payable. See Note 8, ‘‘Notes Payable and Credit Facility.’’ For transfers accounted for as a sale, 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 September 30, 2023, and 2022, we recognized net gains of $6.9 million and $8.1 million, respectively, and total proceeds from these sales were $220.8 million and $376.4 million, respectively. For the six months ended September 30, 2023, and 2022, we recognized net gains of $8.2 million and $9.9 million, respectively, and total proceeds from these sales were $282.2 million and $428.9 million, respectively. When we retain servicing obligations in transfers accounted for as sales, we allocate a portion of the proceeds to deferred revenue, which is recognized as we perform the services. As of September 30, 2023, and March 31, 2023, we had deferred revenue of $0.4 million and $0.5 million, respectively, for servicing obligations. In

LESSEE ACCOUNTING

LESSEE ACCOUNTING	6 Months Ended
	Sep. 30, 2023
LESSEE ACCOUNTING [Abstract]
LESSEE ACCOUNTING	5. LESSEE ACCOUNTING We lease office space for periods up to six years and lease warehouse space for periods of up to ten years, and we have some lease options that can be exercised to extend beyond those lease term limits. 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 as part of selling, general and administrative expenses. We recognized rent expense of $1.5 million and $1.2 million for the three months ended September 30, 2023, and September 30, 2022, respectively, and $3.0 million and $2.5 million for the six months ended September 30, 2023, and 2022, respectively.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	6 Months Ended
	Sep. 30, 2023
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 six months ended September 30, 2023 (in thousands): Professional Managed Product Services Services Total Balance March 31, 2023 (1) $ 106,497 $ 19,712 $ 9,896 $ 136,105 Acquisitions 19,672 2,456 - 22,128 Foreign currency translations (27 ) (5 ) (2 ) (34 ) Balance September 30, 2023 (1) $ 126,142 $ 22,163 $ 9,894 $ 158,199 (1) Balance is net of $8,673 thousand in accumulated impairments that were recorded in segments that proceed our current segment organization. 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 goodwill balance increased by $22.1 million over the six months ended September 30, 2023, due to $22.1 million in goodwill additions from our acquisition of Network Solutions Group (“NSG”). Please refer to Note 15, “Business Combinations” for details of our acquisition. 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, 2022, we performed a quantitative assessment of goodwill and concluded that the fair value of our technology reporting unit exceeded its carrying value. Our conclusions would not be impacted by a ten percent change in our estimate of the fair value of the reporting unit. During the first quarter ended June 30, 2023, we separated our technology segment into three new segments: product, professional services, and managed services. We concluded that each segment was one reporting unit. At that time, we allocated our goodwill to the reporting units affected using a relative fair value approach. We concluded that the fair value of each new reporting unit exceeded its carrying value. 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 ur other intangible assets consist of the following on September 30, 2023, and March 31, 2023 (in thousands): September 30, 2023 March 31, 2023 Gross Gross Carrying Accumulated Net Carrying Carrying Accumulated Net Carrying Amount Amortization Amount Amount Amortization Amount Purchased intangibles $ 115,372 $ (68,832 ) $ 46,540 $ 85,449 $ (61,376 ) $ 24,073 Capitalized software development 10,516 (10,114 ) 402 10,516 (9,544 ) 972 Total $ 125,888 $ (78,946 ) $ 46,942 $ 95,965 $ (70,920 ) $ 25,045 Purchased intangibles, consisting mainly of customer relationships, are generally amortized between 5 to 10 years. Capitalized software development is generally amortized over 5 years. Total amortization expense for customer relationships and other intangible assets was $4.0 million for the three months ended September 30, 2023, and $2.5 million for the three months ended September 30, 2022, and $7.5 million and $4.7 million for the six months ended September 30, 2023, and 2022, respectively.

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES	6 Months Ended
	Sep. 30, 2023
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 six months ended September 30, 2023, and 2022 (in thousands): Accounts Receivable Notes Receivable Lease Receivables Total Balance April 1, 2023 $ 2,572 $ 801 $ 981 $ 4,354 Provision for credit losses 508 122 449 1,079 Write-offs and other (26 ) (2 ) (2 ) (30 ) Balance September 30 2023 $ 3,054 $ 921 $ 1,428 $ 5,403 Accounts Receivable Notes Receivable Lease Receivables Total Balance April 1, 2022 $ 2,411 $ 708 $ 681 $ 3,800 Provision for credit losses 943 269 527 1,739 Write-offs and other (71 ) (1 ) (1 ) (73 ) Balance September 30 2022 $ 3,283 $ 976 $ 1,207 $ 5,466 We evaluate our customers using an internally assigned credit quality rating “CQR”. The CQR categories of our financing receivables are: • 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 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 greater than and up to . The following table provides the amortized cost basis of our financing receivables by CQR and by credit origination year as of September 30, 2023 (in thousands): Amortized cost basis by origination year ending March 31, 2024 2023 2022 2021 2020 2019 and prior Total Transfers (2) Net credit exposure Notes receivable: High CQR $ 79,740 $ 22,969 $ 6,850 $ 7,515 $ 80 $ - $ 117,154 $ (36,784 ) $ 80,370 Average CQR 12,731 5,500 1,614 85 - 5 19,935 (6,943 ) 12,992 Total $ 92,471 $ 28,469 $ 8,464 $ 7,600 $ 80 $ 5 $ 137,089 $ (43,727 ) $ 93,362 Lease receivables: High CQR $ 16,364 $ 10,424 $ 2,543 $ 1,408 $ 287 $ 23 $ 31,049 $ (4,524 ) $ 26,525 Average CQR 13,926 12,574 3,345 518 26 - 30,389 (2,995 ) 27,394 Total $ 30,290 $ 22,998 $ 5,888 $ 1,926 $ 313 $ 23 $ 61,438 $ (7,519 ) $ 53,919 Total amortized cost (1) $ 122,761 $ 51,467 $ 14,352 $ 9,526 $ 393 $ 28 $ 198,527 $ (51,246 ) $ 147,281 (1) Excludes thousand that we retained after selling the related lease receivable. (2) Transfers consist of receivables that have been transferred to third-party financial institutions on a non-recourse basis. The following table provides the amortized cost basis of our financing receivables by CQR and by credit origination year as of March 31, 2023 (in thousands): Amortized cost basis by origination year ending March 31, 2023 2022 2021 2020 2019 2018 and prior Total Transfers (2) Net credit exposure Notes receivable: High CQR $ 72,155 $ 11,378 $ 11,267 $ 370 $ 30 $ - $ 95,200 $ (28,115 ) $ 67,085 Average CQR 12,793 2,675 213 115 61 1 15,858 (1,432 ) 14,426 Total $ 84,948 $ 14,053 $ 11,480 $ 485 $ 91 $ 1 $ 111,058 $ (29,547 ) $ 81,511 Lease receivables: High CQR $ 21,629 $ 3,842 $ 1,916 $ 565 $ 51 $ 9 $ 28,012 $ (1,437 ) $ 26,575 Average CQR 23,796 3,430 770 35 3 - 28,034 (1,594 ) 26,440 Total $ 45,425 $ 7,272 $ 2,686 $ 600 $ 54 $ 9 $ 56,046 $ (3,031 ) $ 53,015 Total amortized cost (1) $ 130,373 $ 21,325 $ 14,166 $ 1,085 $ 145 $ 10 $ 167,104 $ (32,578 ) $ 134,526 (1) Excludes unguaranteed residual values of $ thousand that we retained after selling the related lease receivable. (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 61-90 Days Past > 90 Days Past Due Total Past Due Current Total Billed Unbilled Amortized Notes receivable $ 1,904 $ 992 $ 597 $ 3,493 $ 15,218 $ 18,711 $ 118,378 $ 137,089 Lease receivables 790 336 603 1,729 4,222 5,951 55,487 61,438 Total $ 2,694 $ 1,328 $ 1,200 $ 5,222 $ 19,440 $ 24,662 $ 173,865 $ 198,527 The following table provides an aging analysis of our financing receivables as of , (in thousands): 31-60 Days Past 61-90 Days Past > 90 Days Past Due Total Past Due Current Total Billed Unbilled Amortized Cost Notes receivable $ 1,020 $ 862 $ 473 $ 2,355 $ 7,703 $ 10,058 $ 101,000 $ 111,058 Lease receivables 1,068 463 864 2,395 5,413 7,808 48,238 56,046 Total $ 2,088 $ 1,325 $ 1,337 $ 4,750 $ 13,116 $ 17,866 $ 149,238 $ 167,104 Our financial assets on nonaccrual status were not significant as of September 30, 2023, and March 31, 2023.

NOTES PAYABLE AND CREDIT FACILI

NOTES PAYABLE AND CREDIT FACILITY	6 Months Ended
	Sep. 30, 2023
NOTES PAYABLE AND CREDIT FACILITY [Abstract]
CREDIT FACILITY AND NOTES PAYABLE	8. NOTES PAYABLE AND CREDIT FACILITY CREDIT FACILITY We finance the operations of our subsidiaries e Plus Technology, inc., e Plus Technology Services, inc., and SLAIT Consulting, LLC (collectively, the “Borrowers”) in our technology business through a credit facility with Wells Fargo Commercial Distribution Finance, LLC (“WFCDF”). The WFCDF credit facility (the “WFCDF Credit Facility”) has a floor plan facility and a revolving credit facility. On October 13, 2021, the Borrowers amended, restated, and replaced in entirety their then-existing credit agreements with WFCDF. On October 31, 2022, the Borrowers entered into the First Amendment to the credit agreement. Under this agreement and its amendment, the credit facility is provided by a syndicate of banks (collectively, the “Lenders”) for which WFCDF acts as administrative agent and consists of a discretionary senior secured floor plan facility in favor of the Borrowers. On March 10, 2023, the Borrowers entered into a Second Amendment to the credit agreement that amended the credit agreement to increase the maximum aggregate amount of principal available under the floor plan facility to $500.0 million and increase the maximum aggregate amount of principal available under the Revolving Facility to $200.0 million. Under the accounts payable floor plan facility, we had an outstanding balance of $168.6 million and $134.6 million as of September 30, 2023, and March 31, 2023 We use the floor plan to facilitate the purchase of inventory from designated suppliers. The Lenders pay our suppliers and provide us extended payment terms. We pay down the floor plan facility on three specified dates each month, generally 30-60 days from the invoice date. We do not incur any interest or other incremental expenses for the floor plan facility. We are not involved in establishing the terms or conditions of the arrangements between our suppliers and the Lenders. U The fair value of the outstanding balances under the WFCDF Credit Facility were approximately equal to their carrying value as of September 30, 2023, and March 31, 2023 The amount of principal available is subject to a borrowing base determined by, among other things, the Borrowers’ accounts receivable and inventory, each pursuant to a formula and subject to certain reserves. Loans accrue interest at a rate per annum equal to Term SOFR Rate plus a Term SOFR Adjustment of 0.10% plus an Applicable Margin of 1.75%. Our borrowings under the WFCDF Credit Facility are secured by the assets of the Borrowers. Additionally, the WFCDF Credit Facility requires a guaranty of $10.5 million by e Under the WFCDF Credit Facility, the Borrowers are restricted in their ability to pay dividends to e s of September 30, 2023, and March 31, 2023 The WFCDF Credit Facility has an initial one-year term, which automatically renews for successive one-year terms thereafter. However, either the Borrowers or WFCDF may terminate the WFCDF Credit Facility at any time notice to the other party no less than . 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 business 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. As of September 30, 2023, and March 31, 2023, we had $2.0 million and $6.0 million, respectively, arising from one installment payment arrangement within our technology business. Our payments under this installment agreement are due quarterly in amounts that are correlated to the payments due to us from a customer under a related notes receivable. We discounted our payments due under this installment agreement to calculate our payable balance using an interest rate of 3.50% as of both September 30, 2023, and March 31, 2023. 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 September 30, 2023, and March 31, 2023 September 30, 2023, and March 31, 2023

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Sep. 30, 2023
COMMITMENTS AND CONTINGENCIES [Abstract]
COMMITMENTS AND CONTINGENCIES	9. COMMITMENTS AND CONTINGENCIES LEGAL PROCEEDINGS We are subject to various legal proceedings, as well as demands, claims and threatened litigation, that arise in the normal course of our business and have not been fully resolved. The ultimate outcome of any litigation or other legal dispute is uncertain. When a loss related to a legal proceeding or claim is probable and reasonably estimable, we accrue our best estimate for the ultimate resolution of the matter. If one or more legal matters are resolved against us in a reporting period for amounts above our expectations, our financial condition and operating results for that period may be adversely affected. As of September 30, 2023, we do not believe that there is a reasonable possibility that any material loss exceeding the amounts already recognized for these proceedings and matters, if any, has been incurred. 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	6 Months Ended
	Sep. 30, 2023
EARNINGS PER SHARE [Abstract]
EARNINGS PER SHARE	10. 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 six months ended September 30, 2023, and 2022, respectively (in thousands, except per share data) Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Net earnings attributable to common shareholders - basic and diluted $ 32,664 $ 28,469 $ 66,511 $ 50,808 Basic and diluted common shares outstanding Weighted average common shares outstanding — basic 26,624 26,578 26,588 26,546 Effect of dilutive shares 55 45 71 125 Weighted average shares common outstanding — diluted 26,679 26,623 26,659 26,671 Earnings per common share - basic $ 1.23 $ 1.07 $ 2.50 $ 1.91 Earnings per common share - diluted $ 1.22 $ 1.07 $ 2.49 $ 1.91

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Sep. 30, 2023
SHARE-BASED COMPENSATION [Abstract]
SHARE-BASED COMPENSATION	12. SHARE-BASED COMPENSATION SHARE-BASED PLANS As of September 30, 2023, we had share-based awards outstanding under the following plans: (1) the 2017 Non-Employee Director Long-Term Incentive Plan (“2017 Director LTIP”), (2) the 2012 Employee Long-Term Incentive Plan (“2012 Employee LTIP”), and (3) the 2021 Employee Long-Term Incentive Plan (“2021 Employee LTIP”) The 2021 Employee LTIP was approved by our shareholders on September 16, 2021, and became effective October 1, 2021. The 2021 Employee LTIP replaced the 2012 Employee LTIP that had previously been approved by our stockholders on September 13, 2012. Beginning September 16, 2021, we permanently ceased issuing any additional shares under the 2012 Employee LTIP These share-based plans define fair market value as the closing sales price of a share of common stock as quoted on any established stock exchange for such date or the most recent trading day preceding such date if there were no trades on such date. RESTRICTED STOCK ACTIVITY For the six months ended September 30, 2023, we granted 12,454 restricted shares of our stock under the 2017 Director LTIP, and 152,865 restricted shares of our stock under the 2021 Employee LTIP. For the six months ended September 30, 2022, we granted 15,954 shares of our stock under the 2017 Director LTIP, and 138,643 restricted shares of our stock under the 2021 Employee LTIP. A summary of our restricted stock activity, is as follows: Number of Shares Weighted Average Grant-date Fair Value Nonvested April 1, 2023 314,860 $ 49.57 Granted 165,319 $ 56.39 Vested (165,943 ) $ 46.12 Forfeited (2,456 ) $ 55.59 Nonvested September 30 2023 311,780 $ 54.98 EMPLOYEE STOCK PURCHASE PLAN On September 15, 2022, our stockholders approved the 2022 Employee Stock Purchase Plan (“ESPP”) through which eligible employees may purchase up to an aggregate of 2.50 million shares of our stock at 6-month intervals at a discount off the lesser of the closing market price on the first or the last trading day of each offering period. During the six months ended September 30, 2023, we issued 36,697 shares at a price of $38.10 per share under the ESPP. As of September 30, 2023, there were 2.46 million shares remaining under the ESPP. COMPENSATION EXPENSE The following table provides a summary of our total share-based compensation expense, including for restricted stock awards and our ESPP, and the related income tax benefit for the three and six months ended September 30, 2023, and 2022, respectively (in thousands): Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 Equity-based compensation expense $ 2,414 $ 1,958 $ 4,619 $ 3,731 Income tax benefit (661 ) (574 ) (1,261 ) (1,071 ) We recognized the income tax benefit as a reduction to our provision for income taxes. As of September 30, 2023, the total unrecognized compensation expense related to non-vested restricted stock was $14.7 million, which is expected to be recognized over a weighted-average period of 33 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 always fully vested. Our estimated contribution expense to the plan for the three months ended September 30, 2023, and 2022, was $1.2 and $1.0 million, respectively. For the six months ended September 30, 2023, and 2022, our estimated contribution expense for the plan was $2.6 million and $2.0 million, respectively.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Sep. 30, 2023
STOCKHOLDERS' EQUITY [Abstract]
STOCKHOLDERS' EQUITY	11. STOCKHOLDERS’ EQUITY SHARE REPURCHASE PLAN On March 22, 2023, our board of directors authorized the repurchase of up to 1,000,000 shares of our outstanding common stock, over a 12-month period beginning May 28, 2023. On March 24, 2022, our board of directors authorized the repurchase of up to 1,000,000 shares of our outstanding common stock, over a 12-month period beginning May 28, 2022 During the six months ended September 30, 2023 During the six months ended September 30, 2022

INCOME TAXES

INCOME TAXES	6 Months Ended
	Sep. 30, 2023
INCOME TAXES [Abstract]
INCOME TAXES	13. INCOME TAXES Our provision for income tax expense was $12.3 million and $25.0 million for the three and six months ended September 30, 2023, as compared to $11.8 million and $20.5 million for the same periods in the prior year. Our effective tax rate for the three and six months ended September 30, 2023, was 27.4% and 27.3% respectively, compared with 29.3% and 28.7%, respectively, for the same periods in the prior year. Our effective income tax rate for the three and six months ended September 30, 2023, was lower compared to the same periods in the prior year primarily due to lower state effective tax rates and less non-deductible executive compensation in the current period. The effective tax rate for the three and six months ended September 30, 2023, and September 30, 2022, differed from the US federal statutory rate of 21.0% primarily due to state and local income taxes.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	6 Months Ended
	Sep. 30, 2023
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]
FAIR VALUE OF FINANCIAL INSTRUMENTS	14. FAIR VALUE OF FINANCIAL INSTRUMENTS The following table summarizes the fair value hierarchy of our financial instruments as of September 30, 2023, and March 31, 2023 Fair Value Measurement Using Recorded Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs (Level 3) September 30 , 2023 Assets: Money market funds $ 14,570 $ 14,570 $ - $ - March 31 , 2023 Assets: Money market funds $ 8,880 $ 8,880 $ - $ -

BUSINESS COMBINATIONS

BUSINESS COMBINATIONS	6 Months Ended
	Sep. 30, 2023
BUSINESS COMBINATIONS [Abstract]
BUSINESS COMBINATIONS	15. BUSINESS COMBINATIONS NETWORK SOLUTIONS GROUP (NSG) On April 30, 2023, our subsidiary, e Our preliminary sum for consideration transferred is million that was paid back to us during the quarter ended September 30, 2023, by the sellers based on adjustments to a determination of the total net assets delivered Our preliminary allocation of the purchase consideration to the assets acquired and liabilities assumed is presented below (in thousands): Acquisition Date Amount Accounts receivable $ 20,419 Other assets 1,940 Identified intangible assets 29,960 Accounts payable and other liabilities (24,758 ) Contract liabilities (1,086 ) Total identifiable net assets 26,475 Goodwill 22,128 Total purchase consideration $ 48,603 The identified intangible assets of $30.0 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 $22.1 million, of which $19.7 million and $2.4 million were assigned to our product and professional services reporting units, respectively. 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, 2023, is not material. FUTURE COM On July 15, 2022, our subsidiary, ePlus Technology, inc., acquired certain assets and liabilities of Future Com, Ltd., a Texas-based provider of cybersecurity solutions, cloud security and security consulting services throughout the US. Our acquisition provides access to enhanced engineering, sales, and services delivery capabilities in the South-Central region of the United States, as well as bolstering the skills and expertise surrounding ePlus’ growing cybersecurity practice. Our sum for consideration transferred is $13.3 million consisting of $13.0 million paid in cash at closing plus an additional $0.3 million that was subsequently paid to the sellers based on adjustments to our determination of the total net assets delivered. Our allocation of the purchase consideration to the assets acquired and liabilities assumed is presented below (in thousands): Acquisition Date Amount Accounts receivable $ 4,033 Other assets 129 Identified intangible assets 8,360 Accounts payable and other liabilities (8,714 ) Contract liabilities (214 ) Total identifiable net assets 3,594 Goodwill 9,694 Total purchase consideration $ 13,288 The identified intangible assets of $8.4 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 $9.7 million, which was originally assigned to our technology segment reporting unit. As a result of changes in our reporting units, we subsequently reassigned the goodwill to our product, professional services, and managed services segments. 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, 2022, is not material.

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
	Sep. 30, 2023
SEGMENT REPORTING [Abstract]
SEGMENT REPORTING	16. SEGMENT REPORTING We manage and report our operating results through four operating segments: product, professional services, managed services, and financing. Our product segment includes sales of IT products, third-party software, and third-party maintenance, software assurance, and other third-party services. Our professional services segment includes our advanced professional services, staff augmentation, project management services, cloud consulting services and security services. Our managed services segment includes our advanced managed services, service desk, storage-as-a-service, cloud hosted services, cloud managed services and managed security services. We refer to the product segment, professional services segment, and managed services segment collectively as our technology business. Our financing business 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 within our technology business based on gross profit, while we measure our financing business segment based on operating income. We do not present asset information for our reportable segments as we do not provide asset information to our chief operating decision maker. The following table provides reportable segment information (in thousands): Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 Net sales Product $ 500,937 $ 406,317 $ 999,103 $ 791,993 Professional services 38,270 38,050 73,826 75,218 Managed services 32,732 27,111 64,695 53,052 Financing 15,672 22,228 24,162 31,802 Total 587,611 493,706 1,161,786 952,065 Gross profit Product 104,749 94,389 216,140 177,557 Professional services 15,796 14,697 30,520 29,752 Managed services 10,194 7,189 19,991 14,617 Financing 13,626 17,029 19,987 24,901 Total 144,365 133,304 286,638 246,827 Operating expenses Technology business 94,856 84,372 187,270 160,804 Financing 4,646 4,825 8,173 8,733 Total 99,502 89,197 195,443 169,537 Operating income Technology business 35,883 31,903 79,381 61,122 Financing 8,980 12,204 11,814 16,168 Total 44,863 44,107 91,195 77,290 Other income (expense), net 117 (3,866 ) 307 (6,019 ) Earnings before tax $ 44,980 $ 40,241 $ 91,502 $ 71,271 Depreciation and amortization Technology business $ 5,602 $ 3,540 $ 10,366 $ 6,722 Financing 28 28 56 56 Total $ 5,630 $ 3,568 $ 10,422 $ 6,778 Interest and financing costs Technology business $ 661 $ 671 $ 1,211 $ 809 Financing 559 254 860 479 Total $ 1,220 $ 925 $ 2,071 $ 1,288 Selected Financial Data - Statement of Cash Flow Purchases of property, equipment, and operating lease equipment Technology business $ 1,904 $ 611 $ 4,689 $ 1,897 Financing 6 22 919 513 Total $ 1,910 $ 633 $ 5,608 $ 2,410 The following tables provide a disaggregation of net sales by source and further disaggregate our revenue recognized from contracts with customers by timing and our position as principal or agent (in thousands): Three months ended September 30, 2023 Product Professional Managed Services Financing Total Net Sales Contracts with customers $ 496,065 $ 38,270 $ 32,732 $ 2,835 $ 569,902 Financing and other 4,872 - - 12,837 17,709 Total $ 500,937 $ 38,270 $ 32,732 $ 15,672 $ 587,611 Timing and position as principal or agent Transferred at a point in time as principal $ 442,278 $ - $ - $ 2,835 $ 445,113 Transferred at a point in time as agent 53,787 - - - 53,787 Transferred over time as principal - 38,270 32,732 - 71,002 Total revenue from contracts with customers $ 496,065 $ 38,270 $ 32,732 $ 2,835 $ 569,902 Six months ended September 30, 2023 Product Professional Managed Services Financing Total Net Sales Contracts with customers $ 986,608 $ 73,826 $ 64,695 $ 4,125 $ 1,129,254 Financing and other 12,495 - - 20,037 32,532 Total $ 999,103 $ 73,826 $ 64,695 $ 24,162 $ 1,161,786 Timing and position as principal or agent Transferred at a point in time as principal $ 894,660 $ - $ - $ 4,125 $ 898,785 Transferred at a point in time as agent 91,948 - - - 91,948 Transferred over time as principal - 73,826 64,695 - 138,521 Total revenue from contracts with customers $ 986,608 $ 73,826 $ 64,695 $ 4,125 $ 1,129,254 Three months ended September 30, 2022 Product Professional Managed Services Financing Total Net Sales Contracts with customers $ 401,811 $ 38,050 $ 27,111 $ 6,923 $ 473,895 Financing and other 4,506 - - 15,305 19,811 Total $ 406,317 $ 38,050 $ 27,111 $ 22,228 $ 493,706 Timing and position as principal or agent Transferred at a point in time as principal $ 356,846 $ - $ - $ 6,923 $ 363,769 Transferred at a point in time as agent 44,965 - - - 44,965 Transferred over time as principal - 38,050 27,111 - 65,161 Total revenue from contracts with customers $ 401,811 $ 38,050 $ 27,111 $ 6,923 $ 473,895 Six months ended September 30, 2022 Product Professional Managed Services Financing Total Net Sales Contracts with customers $ 782,503 $ 75,218 $ 53,052 $ 7,868 $ 918,641 Financing and other 9,490 - - 23,934 33,424 Total $ 791,993 $ 75,218 $ 53,052 $ 31,802 $ 952,065 Timing and position as principal or agent Transferred at a point in time as principal $ 692,559 $ - $ - $ 7,868 $ 700,427 Transferred at a point in time as agent 89,944 - - - 89,944 Transferred over time as principal - 75,218 53,052 - 128,270 Total revenue from contracts with customers $ 782,503 $ 75,218 $ 53,052 $ 7,868 $ 918,641 TECHNOLOGY BUSINESS DISAGGREGATION OF REVENUE The following table provides a disaggregation of our revenue from contracts with customers for our technology business by customer end market and by type (in thousands): Three Months Ended September 30, Six Months Ended September 30 2023 2022 2023 2022 Customer end market: Telecom, Media & Entertainment $ 124,306 $ 118,454 $ 265,641 $ 246,731 Technology 110,948 96,160 184,351 166,021 State and local government and educational institutions 94,906 70,491 204,311 135,092 Healthcare 72,022 66,959 158,678 135,471 Financial Services 69,885 37,611 135,575 70,910 All others 99,872 81,803 189,068 166,038 Net sales 571,939 471,478 1,137,624 920,263 Less: Revenue from financing and other (4,872 ) (4,506 ) (12,495 ) (9,490 ) Revenue from contracts with customers $ 567,067 $ 466,972 $ 1,125,129 $ 910,773 Type: Product Networking $ 268,636 $ 165,896 $ 513,824 $ 308,537 Cloud 135,068 148,992 307,112 313,725 Security 51,886 48,517 97,682 96,512 Collaboration 27,083 19,187 40,039 32,167 Other 18,264 23,725 40,446 41,052 Total product 500,937 406,317 999,103 791,993 Professional services 38,270 38,050 73,826 75,218 Managed services 32,732 27,111 64,695 53,052 Net sales 571,939 471,478 1,137,624 920,263 Less: Revenue from financing and other (4,872 ) (4,506 ) (12,495 ) (9,490 ) Revenue from contracts with customers $ 567,067 $ 466,972 $ 1,125,129 $ 910,773 We do not disaggregate sales by customer end market beyond the technology business. FINANCING BUSINESS SEGMENT DISAGGREGATION OF REVENUE We analyze our revenues within our financing business segment based on the nature of the arrangement. Our financing revenue generally consists of portfolio income, transactional gains, and post-contract earnings including month-to-month rents and the sales of off-lease equipment. All our revenues from contracts with customers within our financing business segment is from the sales of off-lease equipment.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	During the three months ended September 30, 2023, none of our directors or officers (as defined in Rule 16a-1 under the Exchange Act) adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 105b-1 trading arrangement” (as those terms are defined in Item 408 of Regulation S-K), except the following Rule 10b5-1 trading arrangements adopted that are intended to satisfy the affirmative defense of Rule 10b5-1(c): Name Title Adoption date Duration (a) Aggregate number of shares to be sold Darren Raiguel Chief Operating Officer and President of ePlus Technology, inc. August 22, 2023 August 22, 2023-November 19, 2024 20,000 Elaine Marion Chief Financial Officer September 14, 2023 September 14, 2023 - December 15, 2024 20,000 a) Subject to compliance with Rule 10b5-1, duration could cease earlier than the final date shown above to the extent that the aggregate number of shares to be sold under the trading arrangement have been sold and trading may not begin on the first date of the duration. Additionally, certain of our executive officers may participate in employee stock purchase plans that have been designed to comply with Rule 10b5-1(c) under the Exchange Act.
Darren Raiguel [Member]
Trading Arrangements, by Individual
Name	Darren Raiguel
Title	Chief Operating Officer and President of ePlus Technology, inc.
Rule 10b5-1 Arrangement Adopted	true
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Adoption Date	August 22, 2023
Arrangement Duration	455 days
Aggregate Available	20,000
Elaine Marion [Member]
Trading Arrangements, by Individual
Name	Elaine Marion
Title	Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Adoption Date	September 14, 2023
Arrangement Duration	458 days
Aggregate Available	20,000

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Sep. 30, 2023
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION — The unaudited consolidated financial statements include the accounts of ePlus inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The accounts of businesses acquired are included in the unaudited consolidated financial statements from the dates of acquisition. During the quarter ended June 30, 2023, we split our technology segment into new segments — —
INTERIM FINANCIAL STATEMENTS	I NTERIM FINANCIAL STATEMENTS — The unaudited consolidated financial statements for the six months ended September 30, 2023, and 2022, 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 six months ended September 30, 2023, and 2022, are not necessarily indicative of results that may be expected for any other interim period or for the full fiscal year ending March 31, 2024, 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. These financial statements should be read in conjunction with the information contained in our annual report on Form 10-K for the year ended March 31, 2023 (“2023 Annual Report”), and our Form 8-K that we filed with the SEC on October 6, 2023, which recasts the disclosures in certain portions of our 2023 Annual Report to reflect changes in our reportable segments.
USE OF ESTIMATES	USE OF ESTIMATES — The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Estimates are used when accounting for items and matters including, but not limited to, revenue recognition, residual values, vendor consideration, lease classification, goodwill and intangible assets, allowance for credit losses, inventory obsolescence, and the recognition and measurement of income tax assets and other provisions and contingencies. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results may differ from these estimates.
CONCENTRATIONS OF RISK	CONCENTRATIONS OF RISK — A substantial portion of our sale s are products from Cisco Systems, which were 53% and 39% of our technology business net sales for the three months ended September 30, 2023, and 2022, respectively, and 49% and 37% of our technology business net sales for the six months ended September 30, 2023, and 2022, respectively.

RECENT ACCOUNTING PRONOUNCEME_2

RECENT ACCOUNTING PRONOUNCEMENTS (Policies)	6 Months Ended
	Sep. 30, 2023
RECENT ACCOUNTING PRONOUNCEMENTS [Abstract]
Recent Accounting Pronouncements	RECENTLY ADOPTED ACCOUNTING PRONOUNCEMENTS— In September 2022, the Financial Accounting Standards Board (“FASB”) issued ASU 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. This update requires buyers in a supplier finance program to disclose certain qualitative and quantitative information about the program. It is intended to provide information about an entity’s use of supplier finance programs and their effect on the entity’s working capital, liquidity, and cash flows. This update is effective for us beginning in the first quarter of our fiscal year ending March 31, 2024, except for a requirement to provide a roll forward of our obligations during the annual period, which is effective for us beginning in the first quarter of our fiscal year ending March 31, 2025. We adopted the standard during the first quarter of fiscal year ending March 31, 2024, except for the roll forward requirement, which will be adopted during the first quarter of fiscal year ending March 31, 2025. The adoption of the standard resulted in new disclosures only for amounts presented within Accounts payable – floor plan. For additional information on the new disclosures, see Note 8, “Notes Payable and Credit Facility”.

REVENUES (Tables)

REVENUES (Tables)	6 Months Ended
	Sep. 30, 2023
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 $59.4 million and $70.4 million of receivables from contracts with customers included within financing receivables as of September 30, 2023, and March 31, 2023, respectively. The following table provides the balance of contract liabilities from contracts with customers (in thousands): September 30, 2023 March 31, 2023 Current (included in deferred revenue) $ 118,410 $ 113,713 Non-current (included in other liabilities) $ 48,331 $ 47,217
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 the year ending March 31, 2024 $ 40,911 Year ending March 31, 2025 41,630 Year ending March 31, 2026 20,151 Year ending March 31, 2027 7,167 Year ending March 31, 2028 and thereafter 3,797 Total remaining performance obligations $ 113,656

FINANCING RECEIVABLES AND OPE_2

FINANCING RECEIVABLES AND OPERATING LEASES (Tables)	6 Months Ended
	Sep. 30, 2023
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 six months ended September 30, 2023, and 2022 (in thousands): Three months Ended September 30, Six months Ended September 30, 2023 2022 2023 2022 Net sales $ 4,872 $ 4,506 $ 12,495 $ 9,489 Cost of sales 4,132 3,769 11,523 7,836 Gross profit $ 740 $ 737 $ 972 $ 1,653 The following table provides interest income in aggregate on our sales-type leases and lease income on our operating leases for the three and six months ended September 30, 2023, and 2022 (in thousands): Three months Ended September 30, Six months Ended September 30, 2023 2022 2023 2022 Interest income on sales-type leases $ 1,624 $ 819 $ 2,986 $ 1,680 Lease income on operating leases $ 2,801 $ 4,659 $ 5,609 $ 9,241
Notes Receivable Net and Investments in Leases	The following tables provide a disaggregation of our financing receivables – net (in s): Notes Lease Financing September 30 2023 Receivable Receivables Receivables Gross receivables $ 141,236 $ 71,058 $ 212,294 Unguaranteed residual value (1) - 8,794 8,794 Unearned income (4,147 ) (14,387 ) (18,534 ) Allowance for credit losses (2) (921 ) (1,428 ) (2,349 ) Total, net $ 136,168 $ 64,037 $ 200,205 Reported as: Current $ 102,917 $ 33,377 $ 136,294 Long-term 33,251 30,660 63,911 Total, net $ 136,168 $ 64,037 $ 200,205 (1) Includes unguaranteed residual values of $4,027 thousand that we retained after selling the related lease receivable. (2) Refer to Note 7, “Allowance for Credit Losses” for details. Notes Lease Financing March 31 2023 Receivable Receivables Receivables Gross receivables $ 117,008 $ 60,157 $ 177,165 Unguaranteed residual value (1) - 8,161 8,161 Unearned income (5,950 ) (8,050 ) (14,000 ) Allowance for credit losses (2) (801 ) (981 ) (1,782 ) Total, net $ 110,257 $ 59,287 $ 169,544 Reported as: Current $ 65,738 $ 24,091 $ 89,829 Long-term 44,519 35,196 79,715 Total, net $ 110,257 $ 59,287 $ 169,544 (1) Includes unguaranteed residual values of that we retained after selling the related lease receivable. (2) Refer to Note 7 “Allowance for Credit Losses” for details.
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): September 30, March 31, 2023 2023 Cost of equipment under operating leases $ 14,653 $ 15,301 Accumulated depreciation (9,982 ) (10,599 ) Investment in operating lease equipment—net (1) $ 4,671 $ 4,702 (1) Amounts include estimated unguaranteed residual values of $1,643 thousand and $1,717 thousand as of September 30, 2023, and March 31, 2023, respectively

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	6 Months Ended
	Sep. 30, 2023
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]
Changes in Goodwill	The following table summarizes the changes in the carrying amount of goodwill for the six months ended September 30, 2023 (in thousands): Professional Managed Product Services Services Total Balance March 31, 2023 (1) $ 106,497 $ 19,712 $ 9,896 $ 136,105 Acquisitions 19,672 2,456 - 22,128 Foreign currency translations (27 ) (5 ) (2 ) (34 ) Balance September 30, 2023 (1) $ 126,142 $ 22,163 $ 9,894 $ 158,199 (1) Balance is net of $8,673 thousand in accumulated impairments that were recorded in segments that proceed our current segment organization.
Other Intangible Assets	O ur other intangible assets consist of the following on September 30, 2023, and March 31, 2023 (in thousands): September 30, 2023 March 31, 2023 Gross Gross Carrying Accumulated Net Carrying Carrying Accumulated Net Carrying Amount Amortization Amount Amount Amortization Amount Purchased intangibles $ 115,372 $ (68,832 ) $ 46,540 $ 85,449 $ (61,376 ) $ 24,073 Capitalized software development 10,516 (10,114 ) 402 10,516 (9,544 ) 972 Total $ 125,888 $ (78,946 ) $ 46,942 $ 95,965 $ (70,920 ) $ 25,045

ALLOWANCE FOR CREDIT LOSSES (Ta

ALLOWANCE FOR CREDIT LOSSES (Tables)	6 Months Ended
	Sep. 30, 2023
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 six months ended September 30, 2023, and 2022 (in thousands): Accounts Receivable Notes Receivable Lease Receivables Total Balance April 1, 2023 $ 2,572 $ 801 $ 981 $ 4,354 Provision for credit losses 508 122 449 1,079 Write-offs and other (26 ) (2 ) (2 ) (30 ) Balance September 30 2023 $ 3,054 $ 921 $ 1,428 $ 5,403 Accounts Receivable Notes Receivable Lease Receivables Total Balance April 1, 2022 $ 2,411 $ 708 $ 681 $ 3,800 Provision for credit losses 943 269 527 1,739 Write-offs and other (71 ) (1 ) (1 ) (73 ) Balance September 30 2022 $ 3,283 $ 976 $ 1,207 $ 5,466
Amortized Cost Basis of Financing Receivables by Credit Quality Rating 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 September 30, 2023 (in thousands): Amortized cost basis by origination year ending March 31, 2024 2023 2022 2021 2020 2019 and prior Total Transfers (2) Net credit exposure Notes receivable: High CQR $ 79,740 $ 22,969 $ 6,850 $ 7,515 $ 80 $ - $ 117,154 $ (36,784 ) $ 80,370 Average CQR 12,731 5,500 1,614 85 - 5 19,935 (6,943 ) 12,992 Total $ 92,471 $ 28,469 $ 8,464 $ 7,600 $ 80 $ 5 $ 137,089 $ (43,727 ) $ 93,362 Lease receivables: High CQR $ 16,364 $ 10,424 $ 2,543 $ 1,408 $ 287 $ 23 $ 31,049 $ (4,524 ) $ 26,525 Average CQR 13,926 12,574 3,345 518 26 - 30,389 (2,995 ) 27,394 Total $ 30,290 $ 22,998 $ 5,888 $ 1,926 $ 313 $ 23 $ 61,438 $ (7,519 ) $ 53,919 Total amortized cost (1) $ 122,761 $ 51,467 $ 14,352 $ 9,526 $ 393 $ 28 $ 198,527 $ (51,246 ) $ 147,281 (1) Excludes thousand that we retained after selling the related lease receivable. (2) Transfers consist of receivables that have been transferred to third-party financial institutions on a non-recourse basis. The following table provides the amortized cost basis of our financing receivables by CQR and by credit origination year as of March 31, 2023 (in thousands): Amortized cost basis by origination year ending March 31, 2023 2022 2021 2020 2019 2018 and prior Total Transfers (2) Net credit exposure Notes receivable: High CQR $ 72,155 $ 11,378 $ 11,267 $ 370 $ 30 $ - $ 95,200 $ (28,115 ) $ 67,085 Average CQR 12,793 2,675 213 115 61 1 15,858 (1,432 ) 14,426 Total $ 84,948 $ 14,053 $ 11,480 $ 485 $ 91 $ 1 $ 111,058 $ (29,547 ) $ 81,511 Lease receivables: High CQR $ 21,629 $ 3,842 $ 1,916 $ 565 $ 51 $ 9 $ 28,012 $ (1,437 ) $ 26,575 Average CQR 23,796 3,430 770 35 3 - 28,034 (1,594 ) 26,440 Total $ 45,425 $ 7,272 $ 2,686 $ 600 $ 54 $ 9 $ 56,046 $ (3,031 ) $ 53,015 Total amortized cost (1) $ 130,373 $ 21,325 $ 14,166 $ 1,085 $ 145 $ 10 $ 167,104 $ (32,578 ) $ 134,526 (1) Excludes unguaranteed residual values of $ thousand that we retained after selling the related lease receivable. (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 61-90 Days Past > 90 Days Past Due Total Past Due Current Total Billed Unbilled Amortized Notes receivable $ 1,904 $ 992 $ 597 $ 3,493 $ 15,218 $ 18,711 $ 118,378 $ 137,089 Lease receivables 790 336 603 1,729 4,222 5,951 55,487 61,438 Total $ 2,694 $ 1,328 $ 1,200 $ 5,222 $ 19,440 $ 24,662 $ 173,865 $ 198,527 The following table provides an aging analysis of our financing receivables as of , (in thousands): 31-60 Days Past 61-90 Days Past > 90 Days Past Due Total Past Due Current Total Billed Unbilled Amortized Cost Notes receivable $ 1,020 $ 862 $ 473 $ 2,355 $ 7,703 $ 10,058 $ 101,000 $ 111,058 Lease receivables 1,068 463 864 2,395 5,413 7,808 48,238 56,046 Total $ 2,088 $ 1,325 $ 1,337 $ 4,750 $ 13,116 $ 17,866 $ 149,238 $ 167,104

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Sep. 30, 2023
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 six months ended September 30, 2023, and 2022, respectively (in thousands, except per share data) Three Months Ended September 30, Six Months Ended September 30, 2023 2022 2023 2022 Net earnings attributable to common shareholders - basic and diluted $ 32,664 $ 28,469 $ 66,511 $ 50,808 Basic and diluted common shares outstanding Weighted average common shares outstanding — basic 26,624 26,578 26,588 26,546 Effect of dilutive shares 55 45 71 125 Weighted average shares common outstanding — diluted 26,679 26,623 26,659 26,671 Earnings per common share - basic $ 1.23 $ 1.07 $ 2.50 $ 1.91 Earnings per common share - diluted $ 1.22 $ 1.07 $ 2.49 $ 1.91

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Sep. 30, 2023
SHARE-BASED COMPENSATION [Abstract]
Summary of Non-Vested Restricted Shares	A summary of our restricted stock activity, is as follows: Number of Shares Weighted Average Grant-date Fair Value Nonvested April 1, 2023 314,860 $ 49.57 Granted 165,319 $ 56.39 Vested (165,943 ) $ 46.12 Forfeited (2,456 ) $ 55.59 Nonvested September 30 2023 311,780 $ 54.98
Summary of Share-Based Compensation Expenses	The following table provides a summary of our total share-based compensation expense, including for restricted stock awards and our ESPP, and the related income tax benefit for the three and six months ended September 30, 2023, and 2022, respectively (in thousands): Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 Equity-based compensation expense $ 2,414 $ 1,958 $ 4,619 $ 3,731 Income tax benefit (661 ) (574 ) (1,261 ) (1,071 )

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	6 Months Ended
	Sep. 30, 2023
FAIR VALUE OF FINANCIAL INSTRUMENTS [Abstract]
Fair Value Hierarchy of Financial Instruments	The following table summarizes the fair value hierarchy of our financial instruments as of September 30, 2023, and March 31, 2023 Fair Value Measurement Using Recorded Amount Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs Significant Unobservable Inputs (Level 3) September 30 , 2023 Assets: Money market funds $ 14,570 $ 14,570 $ - $ - March 31 , 2023 Assets: Money market funds $ 8,880 $ 8,880 $ - $ -

BUSINESS COMBINATIONS (Tables)

BUSINESS COMBINATIONS (Tables)	6 Months Ended
	Sep. 30, 2023
Network Solutions Group [Member]
Business Acquisition [Line Items]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed	Our preliminary allocation of the purchase consideration to the assets acquired and liabilities assumed is presented below (in thousands): Acquisition Date Amount Accounts receivable $ 20,419 Other assets 1,940 Identified intangible assets 29,960 Accounts payable and other liabilities (24,758 ) Contract liabilities (1,086 ) Total identifiable net assets 26,475 Goodwill 22,128 Total purchase consideration $ 48,603
Future Com [Member]
Business Acquisition [Line Items]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed	Our allocation of the purchase consideration to the assets acquired and liabilities assumed is presented below (in thousands): Acquisition Date Amount Accounts receivable $ 4,033 Other assets 129 Identified intangible assets 8,360 Accounts payable and other liabilities (8,714 ) Contract liabilities (214 ) Total identifiable net assets 3,594 Goodwill 9,694 Total purchase consideration $ 13,288

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	6 Months Ended
	Sep. 30, 2023
SEGMENT REPORTING [Abstract]
Segment Reporting Information, by Reportable Segment	The following table provides reportable segment information (in thousands): Three Months Ended Six Months Ended September 30, September 30, 2023 2022 2023 2022 Net sales Product $ 500,937 $ 406,317 $ 999,103 $ 791,993 Professional services 38,270 38,050 73,826 75,218 Managed services 32,732 27,111 64,695 53,052 Financing 15,672 22,228 24,162 31,802 Total 587,611 493,706 1,161,786 952,065 Gross profit Product 104,749 94,389 216,140 177,557 Professional services 15,796 14,697 30,520 29,752 Managed services 10,194 7,189 19,991 14,617 Financing 13,626 17,029 19,987 24,901 Total 144,365 133,304 286,638 246,827 Operating expenses Technology business 94,856 84,372 187,270 160,804 Financing 4,646 4,825 8,173 8,733 Total 99,502 89,197 195,443 169,537 Operating income Technology business 35,883 31,903 79,381 61,122 Financing 8,980 12,204 11,814 16,168 Total 44,863 44,107 91,195 77,290 Other income (expense), net 117 (3,866 ) 307 (6,019 ) Earnings before tax $ 44,980 $ 40,241 $ 91,502 $ 71,271 Depreciation and amortization Technology business $ 5,602 $ 3,540 $ 10,366 $ 6,722 Financing 28 28 56 56 Total $ 5,630 $ 3,568 $ 10,422 $ 6,778 Interest and financing costs Technology business $ 661 $ 671 $ 1,211 $ 809 Financing 559 254 860 479 Total $ 1,220 $ 925 $ 2,071 $ 1,288 Selected Financial Data - Statement of Cash Flow Purchases of property, equipment, and operating lease equipment Technology business $ 1,904 $ 611 $ 4,689 $ 1,897 Financing 6 22 919 513 Total $ 1,910 $ 633 $ 5,608 $ 2,410
Disaggregation of Net Sales and Revenue Recognized from Contracts with Customers [Table Text Block]	The following tables provide a disaggregation of net sales by source and further disaggregate our revenue recognized from contracts with customers by timing and our position as principal or agent (in thousands): Three months ended September 30, 2023 Product Professional Managed Services Financing Total Net Sales Contracts with customers $ 496,065 $ 38,270 $ 32,732 $ 2,835 $ 569,902 Financing and other 4,872 - - 12,837 17,709 Total $ 500,937 $ 38,270 $ 32,732 $ 15,672 $ 587,611 Timing and position as principal or agent Transferred at a point in time as principal $ 442,278 $ - $ - $ 2,835 $ 445,113 Transferred at a point in time as agent 53,787 - - - 53,787 Transferred over time as principal - 38,270 32,732 - 71,002 Total revenue from contracts with customers $ 496,065 $ 38,270 $ 32,732 $ 2,835 $ 569,902 Six months ended September 30, 2023 Product Professional Managed Services Financing Total Net Sales Contracts with customers $ 986,608 $ 73,826 $ 64,695 $ 4,125 $ 1,129,254 Financing and other 12,495 - - 20,037 32,532 Total $ 999,103 $ 73,826 $ 64,695 $ 24,162 $ 1,161,786 Timing and position as principal or agent Transferred at a point in time as principal $ 894,660 $ - $ - $ 4,125 $ 898,785 Transferred at a point in time as agent 91,948 - - - 91,948 Transferred over time as principal - 73,826 64,695 - 138,521 Total revenue from contracts with customers $ 986,608 $ 73,826 $ 64,695 $ 4,125 $ 1,129,254 Three months ended September 30, 2022 Product Professional Managed Services Financing Total Net Sales Contracts with customers $ 401,811 $ 38,050 $ 27,111 $ 6,923 $ 473,895 Financing and other 4,506 - - 15,305 19,811 Total $ 406,317 $ 38,050 $ 27,111 $ 22,228 $ 493,706 Timing and position as principal or agent Transferred at a point in time as principal $ 356,846 $ - $ - $ 6,923 $ 363,769 Transferred at a point in time as agent 44,965 - - - 44,965 Transferred over time as principal - 38,050 27,111 - 65,161 Total revenue from contracts with customers $ 401,811 $ 38,050 $ 27,111 $ 6,923 $ 473,895 Six months ended September 30, 2022 Product Professional Managed Services Financing Total Net Sales Contracts with customers $ 782,503 $ 75,218 $ 53,052 $ 7,868 $ 918,641 Financing and other 9,490 - - 23,934 33,424 Total $ 791,993 $ 75,218 $ 53,052 $ 31,802 $ 952,065 Timing and position as principal or agent Transferred at a point in time as principal $ 692,559 $ - $ - $ 7,868 $ 700,427 Transferred at a point in time as agent 89,944 - - - 89,944 Transferred over time as principal - 75,218 53,052 - 128,270 Total revenue from contracts with customers $ 782,503 $ 75,218 $ 53,052 $ 7,868 $ 918,641
Technology Segment Disaggregation of Revenue	The following table provides a disaggregation of our revenue from contracts with customers for our technology business by customer end market and by type (in thousands): Three Months Ended September 30, Six Months Ended September 30 2023 2022 2023 2022 Customer end market: Telecom, Media & Entertainment $ 124,306 $ 118,454 $ 265,641 $ 246,731 Technology 110,948 96,160 184,351 166,021 State and local government and educational institutions 94,906 70,491 204,311 135,092 Healthcare 72,022 66,959 158,678 135,471 Financial Services 69,885 37,611 135,575 70,910 All others 99,872 81,803 189,068 166,038 Net sales 571,939 471,478 1,137,624 920,263 Less: Revenue from financing and other (4,872 ) (4,506 ) (12,495 ) (9,490 ) Revenue from contracts with customers $ 567,067 $ 466,972 $ 1,125,129 $ 910,773 Type: Product Networking $ 268,636 $ 165,896 $ 513,824 $ 308,537 Cloud 135,068 148,992 307,112 313,725 Security 51,886 48,517 97,682 96,512 Collaboration 27,083 19,187 40,039 32,167 Other 18,264 23,725 40,446 41,052 Total product 500,937 406,317 999,103 791,993 Professional services 38,270 38,050 73,826 75,218 Managed services 32,732 27,111 64,695 53,052 Net sales 571,939 471,478 1,137,624 920,263 Less: Revenue from financing and other (4,872 ) (4,506 ) (12,495 ) (9,490 ) Revenue from contracts with customers $ 567,067 $ 466,972 $ 1,125,129 $ 910,773

ORGANIZATION AND SUMMARY OF S_3

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Segment	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Basis of Presentation [Abstract]
Number of operating segments			4
Net Sales [Member] | Product Concentration Risk [Member] | Cisco Systems [Member] | Technology Segment [Member]
Concentrations of Risk [Abstract]
Percentage of concentration risk	53%	39%	49%	37%

REVENUES (Details)

REVENUES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2023
Contract with Customer, Asset and Liability [Abstract]
Accounts receivable - trade	$ 59,400		$ 59,400		$ 70,400
Current (included in deferred revenue)	118,410		118,410		113,713
Non-current (included in other liabilities)	48,331		48,331		$ 47,217
Revenue recognized from the beginning contract liability	23,400	$ 17,500	54,300	$ 42,400
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	113,656		113,656
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 40,911		$ 40,911
Expected timing of satisfaction, period	6 months		6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 41,630		$ 41,630
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	$ 20,151		$ 20,151
Expected timing of satisfaction, period	1 year		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 7,167		$ 7,167
Expected timing of satisfaction, period	1 year		1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-04-01
Revenue, Performance Obligation Satisfied over Time [Abstract]
Remaining performance obligation	$ 3,797		$ 3,797
Expected timing of satisfaction, period

FINANCING RECEIVABLES AND OPE_3

FINANCING RECEIVABLES AND OPERATING LEASES (Details) - USD ($) $ in Thousands		3 Months Ended			6 Months Ended
		Sep. 30, 2023		Sep. 30, 2022	Sep. 30, 2023		Sep. 30, 2022	Jun. 30, 2023	Mar. 31, 2023		Mar. 31, 2022
Profit Recognized for Sales-type Leases [Abstract]
Net sales		$ 4,872		$ 4,506	$ 12,495		$ 9,489
Cost of sales		4,132		3,769	11,523		7,836
Gross profit		740		737	972		1,653
Interest Income on Sales-type Leases [Abstract]
Interest income on sales-type leases		1,624		819	2,986		1,680
Lease income on operating leases		2,801		4,659	5,609		9,241
Financing Receivables [Abstract]
Unguaranteed residual value		4,027			4,027				$ 4,222
Allowance for credit losses		(5,403)		(5,466)	(5,403)		(5,466)		(4,354)		$ (3,800)
Reported as [Abstract]
Current		136,294			136,294				89,829
Unguaranteed residual value for sales-type leases		4,027			4,027				4,222
Investment in Operating Lease Equipment - Net [Abstract]
Cost of equipment under operating leases		14,653			14,653				15,301
Accumulated depreciation		(9,982)			(9,982)				(10,599)
Investment in operating lease equipment-net	[1]	4,671			4,671				4,702
Unguaranteed residual value of operating lease equipment net		1,643			1,643			$ 1,717
Transfers of Financial Assets [Abstract]
Gain on sale of financing receivables		6,900		8,100	8,200		9,900
Proceeds from sale of financing receivables		220,800		376,400	282,200		428,900
Deferred revenue for servicing obligation		400			400				500
Notes Payable [Member] | Asset Pledged as Collateral [Member] | Nonrecourse [Member]
Transfers of Financial Assets [Abstract]
Financing receivables		67,900			67,900				35,700
Operating leases		2,800			2,800				2,500
Notes Receivables [Member]
Financing Receivables [Abstract]
Gross receivables		141,236			141,236				117,008
Unguaranteed residual value		0	[2]		0	[2]			0	[3]
Unearned income		(4,147)			(4,147)				(5,950)
Allowance for credit losses		(921)	[4]	(976)	(921)	[4]	(976)		(801)	[4]	(708)
Total, net		136,168			136,168				110,257
Reported as [Abstract]
Current		102,917			102,917				65,738
Long-term		33,251			33,251				44,519
Total, net		136,168			136,168				110,257
Lease Receivables [Member]
Financing Receivables [Abstract]
Gross receivables		71,058			71,058				60,157
Unguaranteed residual value		8,794	[2]		8,794	[2]			8,161	[3]
Unearned income		(14,387)			(14,387)				(8,050)
Allowance for credit losses		(1,428)	[4]	$ (1,207)	(1,428)	[4]	$ (1,207)		(981)	[4]	$ (681)
Total, net		64,037			64,037				59,287
Reported as [Abstract]
Current		33,377			33,377				24,091
Long-term		30,660			30,660				35,196
Total, net		64,037			64,037				59,287
Financing Receivables [Member]
Financing Receivables [Abstract]
Gross receivables		212,294			212,294				177,165
Unguaranteed residual value		8,794	[2]		8,794	[2]			8,161	[3]
Unearned income		(18,534)			(18,534)				(14,000)
Allowance for credit losses	[4]	(2,349)			(2,349)				(1,782)
Total, net		200,205			200,205				169,544
Reported as [Abstract]
Current		136,294			136,294				89,829
Long-term		63,911			63,911				79,715
Total, net		$ 200,205			$ 200,205				$ 169,544
[1]Amounts include estimated unguaranteed residual values of $1,643 thousand and $1,717 thousand as of September 30, 2023, and March 31, 2023, respectively[2] Includes unguaranteed residual values of $4,027 thousand that we retained after selling the related lease receivable. Includes unguaranteed residual values of that we retained after selling the related lease receivable.

LESSEE ACCOUNTING (Details)

LESSEE ACCOUNTING (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Lessee, Operating Lease [Abstract]
Rent expense	$ 1.5	$ 1.2	$ 3	$ 2.5
Office Building [Member] | Maximum [Member]
Lessee, Operating Lease [Abstract]
Operating lease term	6 years		6 years
Warehouse [Member] | Maximum [Member]
Lessee, Operating Lease [Abstract]
Operating lease term	10 years		10 years

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS, Goodwill (Details) $ in Thousands		3 Months Ended	6 Months Ended
		Jun. 30, 2023 USD ($) Unit	Sep. 30, 2023 USD ($)
Goodwill [Roll Forward]
Goodwill	[1]	$ 136,105	$ 136,105
Acquisitions			22,128
Foreign currency translations			(34)
Goodwill	[1]		158,199
Accumulated impairments			8,673
Increase in goodwill			$ 22,100
Percentage change in the fair value		10%	10%
Number of reporting units | Unit		1
Technology Segment [Member]
Goodwill [Roll Forward]
Number of new segments created | Unit		3
Product [Member]
Goodwill [Roll Forward]
Goodwill	[1]	$ 106,497	$ 106,497
Acquisitions			19,672
Foreign currency translations			(27)
Goodwill	[1]		126,142
Professional Services [Member]
Goodwill [Roll Forward]
Goodwill	[1]	19,712	19,712
Acquisitions			2,456
Foreign currency translations			(5)
Goodwill	[1]		22,163
Managed Services [Member]
Goodwill [Roll Forward]
Goodwill	[1]	$ 9,896	9,896
Acquisitions			0
Foreign currency translations			(2)
Goodwill	[1]		$ 9,894
[1]Balance is net of $8,673 thousand in accumulated impairments that were recorded in segments that proceed our current segment organization.

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS, Other Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2023
Other Intangible Assets [Abstract]
Gross carrying amount	$ 125,888		$ 125,888		$ 95,965
Accumulated amortization	(78,946)		(78,946)		(70,920)
Net carrying amount	46,942		46,942		25,045
Purchased Intangibles [Member]
Other Intangible Assets [Abstract]
Gross carrying amount	115,372		115,372		85,449
Accumulated amortization	(68,832)		(68,832)		(61,376)
Net carrying amount	46,540		46,540		24,073
Total amortization expense	$ 4,000	$ 2,500	$ 7,500	$ 4,700
Purchased Intangibles [Member] | Minimum [Member]
Other Intangible Assets [Abstract]
Estimated useful life	5 years		5 years
Purchased Intangibles [Member] | Maximum [Member]
Other Intangible Assets [Abstract]
Estimated useful life	10 years		10 years
Capitalized Software Development [Member]
Other Intangible Assets [Abstract]
Gross carrying amount	$ 10,516		$ 10,516		10,516
Accumulated amortization	(10,114)		(10,114)		(9,544)
Net carrying amount	$ 402		$ 402		$ 972
Capitalized Software Development [Member] | Minimum [Member]
Other Intangible Assets [Abstract]
Estimated useful life	5 years		5 years

ALLOWANCE FOR CREDIT LOSSES, Ac

ALLOWANCE FOR CREDIT LOSSES, Activity (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2023		Sep. 30, 2022
Activity in reserves for credit losses [Roll Forward]
Balance	$ 4,354		$ 3,800
Provision for credit losses	1,079		1,739
Write-offs and other	(30)		(73)
Balance	5,403		5,466
Accounts Receivable [Member]
Activity in reserves for credit losses [Roll Forward]
Balance	2,572		2,411
Provision for credit losses	508		943
Write-offs and other	(26)		(71)
Balance	3,054		3,283
Notes Receivable [Member]
Activity in reserves for credit losses [Roll Forward]
Balance	801	[1]	708
Provision for credit losses	122		269
Write-offs and other	(2)		(1)
Balance	921	[1]	976
Lease Receivables [Member]
Activity in reserves for credit losses [Roll Forward]
Balance	981	[1]	681
Provision for credit losses	449		527
Write-offs and other	(2)		(1)
Balance	$ 1,428	[1]	$ 1,207
[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	6 Months Ended
	Sep. 30, 2023		Mar. 31, 2023
Credit Risk Profile, Segregated by Class [Abstract]
2024/2023	$ 122,761	[1]	$ 130,373	[2]
2023/2022	51,467	[1]	21,325	[2]
2022/2021	14,352	[1]	14,166	[2]
2021/2020	9,526	[1]	1,085	[2]
2020/2019	393	[1]	145	[2]
2019/2018 and prior	28	[1]	10	[2]
Total	198,527	[1]	167,104	[2]
Transfers	(51,246)	[1],[3]	(32,578)	[2],[4]
Net credit exposure	147,281	[1]	134,526
Unguaranteed residual value	$ 4,027		4,222
Minimum [Member]
Credit Risk Profile, Segregated by Class [Abstract]
Loss rate on credit quality rating	8%
Maximum [Member]
Credit Risk Profile, Segregated by Class [Abstract]
Loss rate on credit quality rating	100%
Notes Receivable [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2024/2023	$ 92,471		84,948
2023/2022	28,469		14,053
2022/2021	8,464		11,480
2021/2020	7,600		485
2020/2019	80		91
2019/2018 and prior	5		1
Total	137,089		111,058
Transfers	(43,727)	[3]	(29,547)	[4]
Net credit exposure	93,362		81,511
Unguaranteed residual value	0	[5]	0	[6]
Lease Receivables [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2024/2023	30,290		45,425
2023/2022	22,998		7,272
2022/2021	5,888		2,686
2021/2020	1,926		600
2020/2019	313		54
2019/2018 and prior	23		9
Total	61,438		56,046
Transfers	(7,519)	[3]	(3,031)	[4]
Net credit exposure	53,919		53,015
Unguaranteed residual value	$ 8,794	[5]	8,161	[6]
High CQR [Member] | Maximum [Member]
Credit Risk Profile, Segregated by Class [Abstract]
Loss rate on credit quality rating	1%
High CQR [Member] | Notes Receivable [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2024/2023	$ 79,740		72,155
2023/2022	22,969		11,378
2022/2021	6,850		11,267
2021/2020	7,515		370
2020/2019	80		30
2019/2018 and prior	0		0
Total	117,154		95,200
Transfers	(36,784)	[3]	(28,115)	[4]
Net credit exposure	80,370		67,085
High CQR [Member] | Lease Receivables [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2024/2023	16,364		21,629
2023/2022	10,424		3,842
2022/2021	2,543		1,916
2021/2020	1,408		565
2020/2019	287		51
2019/2018 and prior	23		9
Total	31,049		28,012
Transfers	(4,524)	[3]	(1,437)	[4]
Net credit exposure	$ 26,525		26,575
Average CQR [Member] | Minimum [Member]
Credit Risk Profile, Segregated by Class [Abstract]
Loss rate on credit quality rating	1%
Average CQR [Member] | Maximum [Member]
Credit Risk Profile, Segregated by Class [Abstract]
Loss rate on credit quality rating	8%
Average CQR [Member] | Notes Receivable [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2024/2023	$ 12,731		12,793
2023/2022	5,500		2,675
2022/2021	1,614		213
2021/2020	85		115
2020/2019	0		61
2019/2018 and prior	5		1
Total	19,935		15,858
Transfers	(6,943)	[3]	(1,432)	[4]
Net credit exposure	12,992		14,426
Average CQR [Member] | Lease Receivables [Member]
Credit Risk Profile, Segregated by Class [Abstract]
2024/2023	13,926		23,796
2023/2022	12,574		3,430
2022/2021	3,345		770
2021/2020	518		35
2020/2019	26		3
2019/2018 and prior	0		0
Total	30,389		28,034
Transfers	(2,995)	[3]	(1,594)	[4]
Net credit exposure	$ 27,394		$ 26,440
[1] Excludes thousand that we retained after selling the related lease receivable. Excludes unguaranteed residual values of $ thousand that we retained after selling the related lease receivable. Transfers consist of receivables that have been transferred to third-party financial institutions on a non-recourse basis. 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. Includes unguaranteed residual values of $4,027 thousand that we retained after selling the related lease receivable. Includes unguaranteed residual values of that we retained after selling the related lease receivable.

ALLOWANCE FOR CREDIT LOSSES, Ag

ALLOWANCE FOR CREDIT LOSSES, Aging Analysis (Details) - USD ($) $ in Thousands	Sep. 30, 2023		Mar. 31, 2023
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Billed	$ 24,662		$ 17,866
Unbilled	173,865		149,238
Total	198,527	[1]	167,104	[2]
Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Billed	18,711		10,058
Unbilled	118,378		101,000
Total	137,089		111,058
Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Billed	5,951		7,808
Unbilled	55,487		48,238
Total	61,438		56,046
Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	5,222		4,750
Past Due [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	3,493		2,355
Past Due [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	1,729		2,395
31 to 60 Days Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	2,694		2,088
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	1,904		1,020
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	790		1,068
61 to 90 Days Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	1,328		1,325
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	992		862
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	336		463
> 90 Days Past Due [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	1,200		1,337
> 90 Days Past Due [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	597		473
> 90 Days Past Due [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	603		864
Current [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	19,440		13,116
Current [Member] | Notes Receivable [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	15,218		7,703
Current [Member] | Lease Receivables [Member]
Age of the Recorded Notes Receivable Balance Disaggregated Based on Internally Assigned CQR [Abstract]
Total	$ 4,222		$ 5,413
[1] Excludes thousand that we retained after selling the related lease receivable. Excludes unguaranteed residual values of $ thousand that we retained after selling the related lease receivable.

NOTES PAYABLE AND CREDIT FACI_2

NOTES PAYABLE AND CREDIT FACILITY (Details) $ in Millions	6 Months Ended
	Sep. 30, 2023 USD ($) Dates	Mar. 31, 2023 USD ($)	Mar. 10, 2023 USD ($)
Notes Payable [Member] | Recourse [Member]
Notes Payable [Abstract]
Weighted average interest rate of notes	3.50%	3.50%
Notes Payable [Member] | Recourse [Member] | Note Payable One Installment Arrangement [Member]
Notes Payable [Abstract]
Long-term Debt	$ 2	$ 6
Notes Payable [Member] | Non-recourse [Member]
Notes Payable [Abstract]
Long-term Debt	$ 51.5	$ 34.3
Weighted average interest rate of notes	5.84%	5.01%
Floor Plan Facility [Member] | WFCDF Credit Facility [Member] | Minimum [Member]
Credit Facility [Abstract]
Debt instrument, term	30 days
Floor Plan Facility [Member] | WFCDF Credit Facility [Member] | Maximum [Member]
Credit Facility [Abstract]
Debt instrument, term	60 days
WFCDF [Member] | WFCDF Credit Facility [Member]
Credit Facility [Abstract]
Guarantor obligations for credit facility, maximum	$ 10.5
Debt instrument, term	1 year
Renewal term	1 year
Period of notice required to terminate credit facility at year end	90 days
WFCDF [Member] | WFCDF Credit Facility [Member] | SOFR [Member]
Credit Facility [Abstract]
Basis spread on reference rate	1.75%
Debt instrument, interest rate adjustment	0.10%
WFCDF [Member] | Floor Plan Facility [Member] | WFCDF Credit Facility [Member]
Credit Facility [Abstract]
Maximum borrowing capacity under credit facility			$ 500
Amount outstanding under credit facility	$ 168.6	$ 134.6
Number of specified payment dates | Dates	3
WFCDF [Member] | Revolving Credit Facility [Member] | WFCDF Credit Facility [Member]
Credit Facility [Abstract]
Maximum borrowing capacity under credit facility			$ 200
Amount outstanding under credit facility	$ 0	$ 0

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Reconciliation of Numerators and Denominators Used to Calculate Basic and Diluted Earnings per Common Share [Abstract]
Net earnings attributable to common shareholders - basic and diluted	$ 32,664	$ 33,847	$ 28,469	$ 22,339	$ 66,511	$ 50,808
Basic and diluted common shares outstanding [Abstract]
Weighted average common shares outstanding - basic (in shares)	26,624		26,578		26,588	26,546
Effect of dilutive shares (in shares)	55		45		71	125
Weighted average shares common outstanding - diluted (in shares)	26,679		26,623		26,659	26,671
Earnings per common share - basic (in dollars per share)	$ 1.23		$ 1.07		$ 2.5	$ 1.91
Earnings per common share - diluted (in dollars per share)	$ 1.22		$ 1.07		$ 2.49	$ 1.91

SHARE-BASED COMPENSATION, Restr

SHARE-BASED COMPENSATION, Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Number of Shares [Roll Forward]
Nonvested at beginning of period (in shares)	314,860
Granted (in shares)	165,319
Vested (in shares)	(165,943)
Forfeited (in shares)	(2,456)
Nonvested at end of period (in shares)	311,780
Weighted Average Grant-date Fair Value [Roll Forward]
Nonvested at beginning of period (in dollars per share)	$ 49.57
Granted (in dollars per share)	56.39
Vested (in dollars per share)	46.12
Forfeited (in dollars per share)	55.59
Nonvested at end of period (in dollars per share)	$ 54.98
2017 Director LTIP [Member]
Number of Shares [Roll Forward]
Granted (in shares)	12,454	15,954
2021 Employee LTIP [Member]
Number of Shares [Roll Forward]
Granted (in shares)	152,865	138,643

SHARE-BASED COMPENSATION, Emplo

SHARE-BASED COMPENSATION, Employee Stock Purchase Plan (Details) - 2022 Employee Stock Purchase Plan [Member]	3 Months Ended
	Sep. 30, 2023 $ / shares shares
Employee Stock Purchase Plan [Abstract]
Aggregate number of shares that can be issued to participants (in shares)	2,500,000
Offering period	6 months
Number of shares issued under the plan (in shares)	36,697
Share issue price (in dollars per shares) | $ / shares	$ 38.1
Number of shares remaining under the plan (in shares)	2,460,000

SHARE-BASED COMPENSATION, Compe

SHARE-BASED COMPENSATION, Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Compensation Expense [Abstract]
Equity-based compensation expense	$ 2,414	$ 1,958	$ 4,619	$ 3,731
Income tax benefit	(661)	(574)	(1,261)	(1,071)
401(k) Profit Sharing Plan [Abstract]
Contribution to profit sharing plan	1,200	$ 1,000	2,600	$ 2,000
Restricted Stock [Member]
Compensation Expense [Abstract]
Unrecognized compensation expense	$ 14,700		$ 14,700
Unrecognized compensation expense, period for recognition			33 months

STOCKHOLDERS' EQUITY (Details)

STOCKHOLDERS' EQUITY (Details) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 22, 2023	Mar. 24, 2022
Share Repurchase Plan [Abstract]
Authorized number of shares under stock repurchase program (in shares)			1,000,000	1,000,000
Common stock repurchased during the period (in shares)	109,122	70,473
Common stock repurchased during the period	$ 5.3	$ 3.9
Shares repurchased to satisfy tax withholding obligation (in shares)	53,945	58,080
Value of shares repurchased to satisfy tax withholding obligation	$ 3	$ 3.3

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
INCOME TAXES [Abstract]
Provision for income tax expense	$ 12,316	$ 11,772	$ 24,991	$ 20,463
Effective income tax rate	27.40%	29.30%	27.30%	28.70%
Statutory federal income tax rate	21%	21%	21%	21%

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023
Assets [Abstract]
Money market funds	$ 14,570	$ 8,880
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Assets [Abstract]
Money market funds	14,570	8,880
Significant Other Observable Inputs (Level 2) [Member]
Assets [Abstract]
Money market funds	0	0
Significant Unobservable Inputs (Level 3) [Member]
Assets [Abstract]
Money market funds	$ 0	$ 0

BUSINESS COMBINATIONS, NETWORK

BUSINESS COMBINATIONS, NETWORK SOLUTIONS GROUP (NSG) (Details) - USD ($) $ in Thousands		3 Months Ended
	Apr. 30, 2023	Sep. 30, 2023	Mar. 31, 2023
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Goodwill		$ 158,199	$ 136,105
Product [Member]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Goodwill	$ 19,700
Professional Services [Member]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Goodwill	2,400
Network Solutions Group [Member]
Business Combination [Abstract]
Cash portion of the acquisition	59,600
Cash received		$ 11,000
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Accounts receivable	20,419
Other assets	1,940
Identified intangible assets	29,960
Accounts payable and other current liabilities	(24,758)
Contract liabilities	(1,086)
Total identifiable net assets	26,475
Goodwill	22,128
Total purchase consideration	$ 48,603
Network Solutions Group [Member] | Customer Relationships [Member]
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Estimated useful lives		7 years

BUSINESS COMBINATIONS, FUTURE C

BUSINESS COMBINATIONS, FUTURE COM (Details) - USD ($) $ in Thousands	Jul. 15, 2022	Sep. 30, 2023	Mar. 31, 2023
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Goodwill		$ 158,199	$ 136,105
Future Com [Member]
Business Combination [Abstract]
Cash portion of the acquisition	$ 13,000
Consideration payable	300
Allocation of Purchase Price Consideration to Assets Acquired and Liabilities Assumed [Abstract]
Accounts receivable	4,033
Other assets	129
Identified intangible assets	8,360
Accounts payable and other current liabilities	(8,714)
Contract liabilities	(214)
Total identifiable net assets	3,594
Goodwill	9,694
Total purchase consideration	$ 13,288
Future Com [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		6 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) Segment	Sep. 30, 2022 USD ($)
SEGMENT REPORTING [Abstract]
Number of business segments | Segment			4
Reportable Segment Information [Abstract]
Net sales	$ 587,611	$ 493,706	$ 1,161,786	$ 952,065
Gross profit	144,365	133,304	286,638	246,827
Operating expenses	99,502	89,197	195,443	169,537
Operating income	44,863	44,107	91,195	77,290
Other income (expense), net	117	(3,866)	307	(6,019)
Earnings before tax	44,980	40,241	91,502	71,271
Depreciation and amortization	5,630	3,568	10,422	6,778
Interest and financing costs	1,220	925	2,071	1,288
Selected Financial Data - Statement of Cash Flow [Abstract]
Purchases of property, equipment and operating lease equipment	1,910	633	5,608	2,410
Technology Segment [Member]
Reportable Segment Information [Abstract]
Net sales	571,939	471,478	1,137,624	920,263
Product Segment [Member]
Reportable Segment Information [Abstract]
Net sales	500,937	406,317	999,103	791,993
Professional Services Segment [Member]
Reportable Segment Information [Abstract]
Net sales	38,270	38,050	73,826	75,218
Managed Services Segment [Member]
Reportable Segment Information [Abstract]
Net sales	32,732	27,111	64,695	53,052
Financing Segment [Member]
Reportable Segment Information [Abstract]
Net sales	15,672	22,228	24,162	31,802
Operating Segments [Member] | Technology Segment [Member]
Reportable Segment Information [Abstract]
Operating expenses	94,856	84,372	187,270	160,804
Operating income	35,883	31,903	79,381	61,122
Depreciation and amortization	5,602	3,540	10,366	6,722
Interest and financing costs	661	671	1,211	809
Selected Financial Data - Statement of Cash Flow [Abstract]
Purchases of property, equipment and operating lease equipment	1,904	611	4,689	1,897
Operating Segments [Member] | Product Segment [Member]
Reportable Segment Information [Abstract]
Net sales	500,937	406,317	999,103	791,993
Gross profit	104,749	94,389	216,140	177,557
Operating Segments [Member] | Professional Services Segment [Member]
Reportable Segment Information [Abstract]
Net sales	38,270	38,050	73,826	75,218
Gross profit	15,796	14,697	30,520	29,752
Operating Segments [Member] | Managed Services Segment [Member]
Reportable Segment Information [Abstract]
Net sales	32,732	27,111	64,695	53,052
Gross profit	10,194	7,189	19,991	14,617
Operating Segments [Member] | Financing Segment [Member]
Reportable Segment Information [Abstract]
Net sales	15,672	22,228	24,162	31,802
Gross profit	13,626	17,029	19,987	24,901
Operating expenses	4,646	4,825	8,173	8,733
Operating income	8,980	12,204	11,814	16,168
Depreciation and amortization	28	28	56	56
Interest and financing costs	559	254	860	479
Selected Financial Data - Statement of Cash Flow [Abstract]
Purchases of property, equipment and operating lease equipment	$ 6	$ 22	$ 919	$ 513

SEGMENT REPORTING, Disaggregati

SEGMENT REPORTING, Disaggregation of Net Sales and Revenue Recognized from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net Sales [Abstract]
Revenue from contracts with customers	$ 569,902	$ 473,895	$ 1,129,254	$ 918,641
Financing and other	17,709	19,811	32,532	33,424
Net sales	587,611	493,706	1,161,786	952,065
Transferred at Point in Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	445,113	363,769	898,785	700,427
Transferred at Point in Time [Member] | Sales Channel, Through Intermediary [Member]
Net Sales [Abstract]
Revenue from contracts with customers	53,787	44,965	91,948	89,944
Transferred over Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	71,002	65,161	138,521	128,270
Technology Segment [Member]
Net Sales [Abstract]
Revenue from contracts with customers	567,067	466,972	1,125,129	910,773
Financing and other	4,872	4,506	12,495	9,490
Net sales	571,939	471,478	1,137,624	920,263
Product Segment [Member]
Net Sales [Abstract]
Revenue from contracts with customers	496,065	401,811	986,608	782,503
Financing and other	4,872	4,506	12,495	9,490
Net sales	500,937	406,317	999,103	791,993
Product Segment [Member] | Transferred at Point in Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	442,278	356,846	894,660	692,559
Product Segment [Member] | Transferred at Point in Time [Member] | Sales Channel, Through Intermediary [Member]
Net Sales [Abstract]
Revenue from contracts with customers	53,787	44,965	91,948	89,944
Product Segment [Member] | Transferred over Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	0	0	0	0
Professional Services Segment [Member]
Net Sales [Abstract]
Revenue from contracts with customers	38,270	38,050	73,826	75,218
Financing and other	0	0	0	0
Net sales	38,270	38,050	73,826	75,218
Professional Services Segment [Member] | Transferred at Point in Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	0	0	0	0
Professional Services Segment [Member] | Transferred at Point in Time [Member] | Sales Channel, Through Intermediary [Member]
Net Sales [Abstract]
Revenue from contracts with customers	0	0	0	0
Professional Services Segment [Member] | Transferred over Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	38,270	38,050	73,826	75,218
Managed Services Segment [Member]
Net Sales [Abstract]
Revenue from contracts with customers	32,732	27,111	64,695	53,052
Financing and other	0	0	0	0
Net sales	32,732	27,111	64,695	53,052
Managed Services Segment [Member] | Transferred at Point in Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	0	0	0	0
Managed Services Segment [Member] | Transferred at Point in Time [Member] | Sales Channel, Through Intermediary [Member]
Net Sales [Abstract]
Revenue from contracts with customers	0	0	0	0
Managed Services Segment [Member] | Transferred over Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	32,732	27,111	64,695	53,052
Financing Segment [Member]
Net Sales [Abstract]
Revenue from contracts with customers	2,835	6,923	4,125	7,868
Financing and other	12,837	15,305	20,037	23,934
Net sales	15,672	22,228	24,162	31,802
Financing Segment [Member] | Transferred at Point in Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	2,835	6,923	4,125	7,868
Financing Segment [Member] | Transferred at Point in Time [Member] | Sales Channel, Through Intermediary [Member]
Net Sales [Abstract]
Revenue from contracts with customers	0	0	0	0
Financing Segment [Member] | Transferred over Time [Member] | Sales Channel, Directly to Consumer [Member]
Net Sales [Abstract]
Revenue from contracts with customers	$ 0	$ 0	$ 0	$ 0

SEGMENT REPORTING, Technology S

SEGMENT REPORTING, Technology Segment Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Abstract]
Net sales	$ 587,611	$ 493,706	$ 1,161,786	$ 952,065
Less: Revenue from financing and other	(17,709)	(19,811)	(32,532)	(33,424)
Revenue from contracts with customers	569,902	473,895	1,129,254	918,641
Product [Member]
Disaggregation of Revenue [Abstract]
Net sales	516,609	428,545	1,023,265	823,795
Technology Segment [Member]
Disaggregation of Revenue [Abstract]
Net sales	571,939	471,478	1,137,624	920,263
Less: Revenue from financing and other	(4,872)	(4,506)	(12,495)	(9,490)
Revenue from contracts with customers	567,067	466,972	1,125,129	910,773
Technology Segment [Member] | Telecom, Media & Entertainment [Member]
Disaggregation of Revenue [Abstract]
Net sales	124,306	118,454	265,641	246,731
Technology Segment [Member] | Technology [Member]
Disaggregation of Revenue [Abstract]
Net sales	110,948	96,160	184,351	166,021
Technology Segment [Member] | State and Local Government and Educational Institutions [Member]
Disaggregation of Revenue [Abstract]
Net sales	94,906	70,491	204,311	135,092
Technology Segment [Member] | Health Care [Member]
Disaggregation of Revenue [Abstract]
Net sales	72,022	66,959	158,678	135,471
Technology Segment [Member] | Financial Services [Member]
Disaggregation of Revenue [Abstract]
Net sales	69,885	37,611	135,575	70,910
Technology Segment [Member] | All Others [Member]
Disaggregation of Revenue [Abstract]
Net sales	99,872	81,803	189,068	166,038
Product Segment [Member]
Disaggregation of Revenue [Abstract]
Net sales	500,937	406,317	999,103	791,993
Less: Revenue from financing and other	(4,872)	(4,506)	(12,495)	(9,490)
Revenue from contracts with customers	496,065	401,811	986,608	782,503
Product Segment [Member] | Networking [Member]
Disaggregation of Revenue [Abstract]
Net sales	268,636	165,896	513,824	308,537
Product Segment [Member] | Cloud [Member]
Disaggregation of Revenue [Abstract]
Net sales	135,068	148,992	307,112	313,725
Product Segment [Member] | Security [Member]
Disaggregation of Revenue [Abstract]
Net sales	51,886	48,517	97,682	96,512
Product Segment [Member] | Collaboration [Member]
Disaggregation of Revenue [Abstract]
Net sales	27,083	19,187	40,039	32,167
Product Segment [Member] | Other [Member]
Disaggregation of Revenue [Abstract]
Net sales	18,264	23,725	40,446	41,052
Professional Services Segment [Member]
Disaggregation of Revenue [Abstract]
Net sales	38,270	38,050	73,826	75,218
Less: Revenue from financing and other	0	0	0	0
Revenue from contracts with customers	38,270	38,050	73,826	75,218
Managed Services Segment [Member]
Disaggregation of Revenue [Abstract]
Net sales	32,732	27,111	64,695	53,052
Less: Revenue from financing and other	0	0	0	0
Revenue from contracts with customers	$ 32,732	$ 27,111	$ 64,695	$ 53,052